MAR3023 Marketing Management | Target Market of Aldi
1.What is the brand’s target market?
2.What are each brand’s points-of-parity (POPs) and points-of-difference (PODs)?
3.How might each brand’s PODs be improved?
Answer:
Introduction
The report helps in the analysis of the different target markets of the three brands which have been analyzed in the report. Furthermore, the points of parity and points of differences is required to be identified for the same which will help in managing the different kinds of issues and help in improving the points of differences effectively. The three brands which have been taken in analysis of the report are Coles, Woolworths and Aldi which falls under the retail sector.
Target Market of Aldi
The current target mar
ket of Aldi is as follows:
Demographic – Lower income individuals who have limited income as to spend for the daily groceries ("ALDI Supermarkets - Good Different - ALDI Australia", 2018)
Geographic- Both suburban and rural populations
Psychographic- Environmentally friendly packaging and locally produced vegetables and fruits provided to the people at low prices (Goworek, McGoldrick & McGoldrick, 2015)
Behavioral- The cheap prices quality products are being sold to the customers in the market who are price sensitive in nature
Target Market of Woolworths
The target market of Woolworths is the ones who are high income earners in the economy. Furthermore, the company has introduced different kinds of women wear along with the fashion accessories towards targeting the female customers in the market as well (Woolworths.com., 2018).
Target Market of Coles
The target market of Coles includes the individuals or the customers who prefer quality food and products however at a low price. However, the main target groups of Coles are the premium and middle class Australian households and this helps in improving the sales of the company as well ("Coles Supermarkets", 2018).
Points of Parity and Points of Difference
|
Particulars |
Points of Parity |
Points of Difference |
|
Woolworths |
Situated in Australia Sells grocery items along with different other clothes and other baby products The process is extremely customer friendly (Lovelock & Patterson, 2015) |
Offers branded products which are premium in nature Prices are being competitive in nature
|
|
Coles |
Situated in Australia There is liquor along with baby food products which are being sold at Coles (Gürhan-Canli, Hayran & Sarial-Abi, 2016) The customer service is excellent and they provide different other benefits such as various offers |
Offers the same branded products to customers at affordable prices (Shi et al., 2016)
|
|
Aldi |
Situated in Australia It sells different food and non food items |
Uses unit pricing strategy which helps the customers in comparing with other stores in the market The promotional activities is comprehensive in nature (Chernev, 2018) The customer selection is not up to the standard and the customers selection process is not taken care |
Recommendations to Improve Points of Difference
Therefore, this can be recommended that the different points of difference can be improved in analyzing the weaknesses and comparing the same with the other competitors in the market. This has been seen and analyzed that in Aldi, the customer choices and preferences are not being taken care in an effective manner. This is the duty of the store to analyze the demands of the customers which will help the customers in being and feeling confident about the purchases which are being done by them. With implementation of the Ansoff’s matrix, this will be suitable for the company to be diversifying their offerings for the customers.
Furthermore, Woolworths provide and prepare the different products which are suitable for the different premium customers in the market. This is one of the huge weaknesses of the company and this can be solved by them with usage of the market penetration approach along with product development approach which can help in suiting the different demands of the medium income group customers in the entire Australian market. Woolworths needs to target the male and female customers both in their market as this will help them in increasing their overall sales and gain huge productivity in the entire market as well.
Finally, the Coles need to improve their promotional strategies in order to attract more customers with their everyday low pricing strategy and technique. With implementation of the EDLP, this will help Coles in analyzing the demands of the customers and solve their grievances in an effective manner as well. The product development strategy of Ansoff’s matrix can be used which helps the company in diversifying their offerings for the customers and gain more competitive advantage in the market effectively.
Conclusion
Therefore, this can be concluded that the target market of three brands are different from one another, however there are different points of parity and differences in them. Furthermore, the recommendation has been provided in which this has been seen that Ansoff’s matrix will help in managing the differences and make the company help to sell products more effectively.
References
ALDI Supermarkets - Good Different - ALDI Australia. (2018). Retrieved from https://www.aldi.com.au/
Chernev, A. (2018). Strategic marketing management. Cerebellum Press.
Coles Supermarkets. (2018). Retrieved from https://www.coles.com.au/
Goworek, H., McGoldrick, P. J., & McGoldrick, P. J. (2015). Retail marketing management: Principles and practice. Harlow, UK: Pearson.
Gürhan-Canli, Z., Hayran, C., & Sarial-Abi, G. (2016). Customer-based brand equity in a technologically fast-paced, connected, and constrained environment. AMS review, 6(1-2), 23-32.
Lovelock, C., & Patterson, P. (2015). Services marketing. Pearson Australia.
Shi, C., Dubois, M., Chen, Y., Cheng, L., Ramezani, H., Wang, Y., & Zhang, X. (2016). Accessing the exceptional points of parity-time symmetric acoustics. Nature communications, 7, 11110.
Woolworths.com., (2018). Retrieved from https://www.woolworths.com.au/
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