MRK 101 Introduction to Marketing : Market Segmentation of Aldi
The purpose of these tasks is to get you to relate the marketing concepts which you will learn in weeks 1 through 6 to your own experience and then to critically evaluate the marketing activity of a chosen organisation. The five weekly exercises should not be seen as separate from the final report, rather they should be seen as a cumulative experience to enable you to more effectively evaluate the marketing activities of your chosen organisation
You are required to choose ONE of the following retail organisations as the subject of your report and each week you will relate the concept taught during that week’s lecture & tutorial to a BRANDED product sold in that store. You can choose one from:
Coles
Woolworths
Aldi
Myer
David Jones
Each week you will need to visit the same retailer and select one branded product from the total range and write how, in your opinion, that brand demonstrates the marketing concept(s) taught that week e.g. In Coles you may select Kellogs to demonstrate the concept of segmentation
Each weekly reflection should be no more than 300 words and each reflection exercise must be clearly headed to show the concept being demonstrated. Whilst you may need to cite references in this exercise, it is not anticipated that you will need to cite extensively in this exercise.
Then choose a BRANDED product (e.g. Kellogs or Heinz, or Johnson & Johnson etc.) if a food retailer or a fashion brand/clothing retailer brand such as Bonds etc.) Then follow the instructions in the Unit Outline and address five (5) questions addressed in your marketing lectures to date (e.g. Segmentation, Target Market etc) and write 300 words on each areas of the marketing mix that may apply to that brand.
Answer:
Introduction:
As per the fact produced in the assignment, the report is supposed to produce the insight regarding the marketing processes as well as its various concepts. In that concept, the report will provide the distinctive feature regarding the marketing objectives which will help in thinking and encourage the marketing perspectives as per the environment. For that reason from my personal perspectives, it is better to go for the organization like Aldi which is one of the well-known organizations in the retails sector. Thus as per the global market, Aldi is one of the leading retailers that contains almost 8000 stores across the globe.
In addition to that, I have also seen that the Aldi is very friendly to the environment, health as well as nutrition. The company basically emerged in Germany from since 1913. By that manner, the company has provided the establishment of its portfolio in the international business market. Thus as I have seen the company is working with its main objective of growing its market all over the world. Based upon that from the personal perspective it can be said that the Aldi makes the provision of high-quality products to their customers at guaranteed low amount of price.
1 Company Background
As per the norms of the assignment, there has been the discussion which mentioned that Aldi has expanded many of the stores that have been established in suburbs across Australia. The company had made various transformations from a small business to valuable retails chains which have almost a turnover of $60 billion dollars. Thus the retail chain of Aldi is one of the two leading brands which come under the global discount supermarket. The portfolio of Aldi supermarket chain is considered to be the German based Discount Supermarket Chain. Moreover, Aldi is seen to be handled by brothers, Karl Albrecht and Theo Albrecht in the year 1993.
By this manner, Aldi becomes Germany’s leading grocery network. In relation to that Aldi had maintained the process of success in its “will do” attitude and by that manner, there has been the development of the power globally. It, therefore, provided the efficient performance which resulted in a prominent effect. Thus the retail sector of Aldi works with the clear business philosophy as well as the ethical guidelines. Based upon that Aldi had worked with the ideologies of providing excellent quality, outstanding value, huge savings, buying with confidence and superb special buys to the customers.
By this manner, the business of Aldi is market oriented, product oriented and production oriented. Along with that, the business of Aldi becomes a perfect blend of the market as well as the sale orientation. In that context, the report presented a hypothetical process in which I have chosen Aldi to describe the marketing process of Aldi. In relation to that, I personally was quite sure regarding the marketing process of Aldi is quite profitable than any other company. Therefore I have chosen Aldi so that I can be able to define the proper marketing concept of Aldi without any interruption.
2 Based on the market review regarding the product branding of Aldi it is quite clear the supermarket contains a huge variety of products within its cost effective range. Out of all the cost-effective products, I, personally feel that it is better to choose the brand of Coca-Cola for this report. In that context, there should be the process by which the proper branding of Aldi can be well known without any issue. I have selected the brand of Coca-Cola for this part to make sure how Aldi works in achieving a strong customer base in the international retails market. Along with the strong customer base, the marketing process of Aldi goes on with the mix of sales as well as product orientations. Thus choosing Coca-Cola for the description of the marketing process is to make it successful in the international market.
The marketing process can be clearly known from its orientation. It can be known from its generation, dissemination and the response to the market intelligence. The branding of Coca-Cola by Aldi is the part that reaches the customers and satisfies them without any issue. The satisfaction of the customers makes this product as the factor which signifies that Aldi understands the needs of the customers and prepares itself in such a manner that it should understand the customer necessities, intellect distribution along with the wide responsiveness of Coca-Cola in the international market. Moreover, the branding Coca-Cola in Aldi makes this supermarket cost effective and significant for the use of the customers.
Market Segmentation of Aldi:
The product differentiation followed by Aldi is the process of promotion and differentiation between the services or products of the businesses that Aldi carries out and those of its competitors. According to the research conducted by me, the grocery range of Aldi is approximately 95 per cent of the private labels including that of Coco Cola. I also found that Aldi offers low prices of the products of Coco Cola which ranged to be approximately 30 percent cheaper than the original prices. I found Aldi to be popular for its efficiency and the customer service that is provided at a very low cost. Moreover, I found the sale service to be too low regarding the rental system of the shopping cart. This initiative assists in the reduction of the category of environment.
The market segmentation of Aldi regarding Coco-Cola was done by including the following:
Demographic Factors: The income and the earners which have low income and have limited resources to spend.
Geographic Factors: I found that the population which belonged to the rural and suburban geographic areas was included for the market segmentation of Aldi.
Psychological Factors: I found that Aldi was not concerned with the range of Coco Coal products or the service of the after sales, i.e. packing of bags. The packaging of Coco Cola that Aldi does is environmentally friendly.
Behavioral Factors: I found that the customers of Aldi want to have Coco Coal products at bets quality at a cheaper price. The customers of Aldi do not need highly promoted advertised brands.
I found that Aldi targeted the public in selecting the categories where it obtains the best value for money for the products of Coco Cola brand and gaining new customers. The products of Coco Cola may influence on if people select Aldi over many prime competitors.
Targeting:
Having the market segments identified, I believe that the marketers must make a decision regarding the market to which Aldi needs to enter. The marketing program that is covered by Aldi covers all the aspects that are included in the marketing mix of the Coco Cola which I found to be costumed to suit the specific requirements of the targeted segments. I also found that once the market segments are identified the decisions regarding how many groups of customers can be made. The options for Aldi included the offers regarding one product of Coco Cola to a various number of segments.
It also included targeting another product of Coco Coal at every number of market segments and focusing on a single market segments with a single product of Coco Cola. The selection of Aldi regarding the products of Coco Cola by taking the implications on the resources into consideration is followed a specific strategy. The success of Coco Cola, one of the fastest developing niche retailers is depended on a unit strategy of a segment. By concentrating on a customer group that is well defined, Aldi has been able to design a mix and concept of offerings that has a specific appeal that is strong.
Positioning:
According to my view, Aldi must make decisions in the manner and areas in which it would aim to promote the product of Coco Cola as a brand in the target segments. The requirements of the targeted customers must need to be translated into the mix of price, product, distribution and promotion. The perspectives of the consumers regarding the products of Coco Cola and where the positioning would take place is very much associated with the competition in the market is very critical. The paying public would not always view the Coco Coal brand in the way the producers would want.
Coco Cola needs to stand out to have a position that is clearly defined. The positions of the variables and that which are included within the parameters are crucial for the customers and are opted by them. The price might be the prime key in the shopping of the products of Coco Cola while making a decision on the reliability and quality when purchasing the Coco Coal products. While determining the positioning for Coco Cola by Aldi, I found that the segments of a particular market are defined and the decision regarding which market to target is made.
Conclusion:
The assignment deals with the in-depth analysis of the marketing and business frameworks of Coco Cola as a brand by Aldi. The company background is briefed in the assignment. The market segmentation, targeting, and positioning are discussed in the report. The illustration of various aspects of the marketing mix of Aldi in context to Coco Cola is described in brief in the report.
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