Aldis Case study

Q1. Describe what is eant by the term Marketing?Ans. The chartered Institute of Marketing describes the term ‘Marketing’ as the process responsible for identifying, anticipating and satisfying consumer requirements profitability.Q2. Explain why is it Important to balance the marketing mix?Ans. It is important to provide high quality products to the consumer at reasonable price. Marketing mix is a complex set of variable. Marketing mix of every business is different. Aldi’s mix focuses on providing high quality products that a are cheaper alternatives to famous brands.Aldi’s Marketing mix focuses on Product – High quality like brands Price – Aldi’s offers lower prices that its competitors without compromising on quality Place – Aldi’s outlets are expanding globally Promotions – Aldi’s uses the combination of ‘Above the line’ and ‘Below the line’ promotional strategiesQ3. Analyse the f actors that might affect the location of a new Aldi’s store Ans. Factors that might affect the location of a new Aldi’s store :-1. They keep their store layout simple so that the wastage can be minimised and as a result of that it will keep the costs low. This will ensure that people or customers of Aldi’s will get best quality products at lower prices2. They kept into account the demographic factor of the area where the store is located3. People visiting the store should be maximum and this can be ensured by better connectivity. Good transport facility availability should be there.4. They emphasized that the store should be located in the heart of the city to ensure access to large number of consumers.5. Store should have good visibility and this can be ensured by having the store near the main road.6. One most important factor was they ensured that the store should be in a location where there is very less to no competition.Q4. Evaluate how Aldi has identified a unique position within a competitive marketplace. Ans. Aldi’s has identified a unique position within a competitive marketplace by following few things:-1. Availability of the  best quality products to the customers2. Providing lower prices products but with good quality3. By having the correct marketing mix4. They did it by adopting different types of promotional strategies like ‘Above the line’ and ‘Below the line’5. With the help of advocate customers, who persuaded others as well to buy the products from Aldi’s6. They aim at making loyal customers which will always stick to them or buy products from them7. Use of AIDA model to increase the market share, AIDA stands for, (A)Awareness, (I) Interest, (D) Desire, (A) Action8. One of the most important reason of their strong position in the market is that they used to explore all over the world for best quality product and selection of handpicked suppliers