Marketing Mix Recommendation To Increase Revenue: Get Free Solution
You are presenting your recommendations to the marketing manager of your selected supermarket. Your recommendations should focus on as how the supermarket can improve the shopping experience as a means of generating greater revenue.
Answer:
1. The quality of the product has to be maintained as people today are more health conscious. Therefore, ISO/IEC 17025 has to be followed in context to product quality (Meng & Chatwin, 2012). This would help in attracting the customer and meeting the expectation of customers in relation to quality of product or services. The regular inspection of the product has to be done in order to know whether the product is in good condition or not. Thus, it will surely increase the customer experience of the consumers. On the other hand, the company may need to include more brands in their stores that can be helpful for the customers to select from number of brands and fulfill their expectations (Aldi.com.au, 2015).
2. The second recommendation can be product line pricing. It would help the company in setting the price for multiple products that is being offered in coordination with one other product. Therefore, it can be successful in creating different quality levels in the minds of the customers. Moreover, it can help in increasing the profit and turnover the company, ALDI. The product line pricing can be helpful in increasing the customer satisfaction level (Arokiasamy, 2012). On the other hand, the company can gain large-productivity gains. Thus, it can help in remaining in the competition and provide better service to the consumers in terms of price and quality. It can be also effective for the consumers to make decisions.
3. The Company can place different banners showing the exact location of the supermarket. On the other hand, the company can place staffs both inside and outside the supermarket and provide them with a dress code mentioning name of ALDI on their T-shirts. Therefore, it would help the customers to enquire these people about the store instead of asking to random people (Brooks & Simkin, 2012). Thus, it can help in providing better and effective service to the consumers. Moreover, in order to increase visibility among the consumers, the company can place LED TV on every turn so that people can identify and easily reach to the supermarket without any problem. Thus, it can help in improving customer experience that can be effective for the company to increase revenue and better customer engagement (Meng & Chatwin, 2012).
4. In order to increase customer experience, the company has to promote their product. Therefore, in that case, company can offer discount on certain products that can attract customer to buy the product. On the other hand, the company may need to put price tags on the shelf for each product that can help customers to identify the product with ease and make their buying decision. Apart from that, company can use social media such as Facebook, Twitter, Google +, etc to reach out large number of customers (Kumar, Fan, Gulati & Venkat, 2009). This would help in building relationship with consumers and remaining closer to customers. Moreover, the company may be able display their product online that can attract the customers. Apart from that, company can use promotional posters or banners mentioning details about some most saleable products or different offers or discount available in the stores.
References
Aldi.com.au,. (2015). Products & Warranty FAQs - ALDI Australia. Retrieved 27 January 2015,
Arokiasamy, A. (2012). The Effect of Marketing Mix and Customer Perception on Brand Loyalty. IOSR Journal Of Business And Management, 4(2), 1-11. doi:10.9790/487x-0420111
Brooks, N., & Simkin, L. (2012). Judging marketing mix effectiveness. Mrkting Intelligence & Plan, 30(5), 494-514. doi:10.1108/02634501211251025
Kumar, V., Fan, J., Gulati, R., & Venkat, P. (2009). Practice Prize Paper —Marketing-Mix Recommendations to Manage Value Growth at P&G Asia-Pacific. Marketing Science, 28(4), 645-655. doi:10.1287/mksc.1080.0477
Meng, S., & Chatwin, C. (2012). Measuring E-Marketing Mix Elements for Online Business. International Journal Of E-Entrepreneurship And Innovation, 3(3), 13-26. doi:10.4018/jeei.2012070102
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