Aldi’s Market Situation Business & Marketing Research Paper (Research Paper Sample)

REPORT ON ALDI’S MARKET SITUATION
Executive Summary
Marketing comprises a vital component of the business world. This is because it seeks to set the firm apart in terms of market competition. Aldi, similar to other firms in the retail industry, places emphasis on its ability to compete in the modern world to help it through anticipation of long-term development as part of strategic management. Aldi’s marketing plan involves the renowned need to provide high quality products as well as outstanding client value. Thus, Aldi focuses on developing customer loyalty through providing clients better value and this means the company seeks to encourage existing and potential customers to shop at the stores more often. Thus, the marketing strategy at the core of Aldi’s operations and processes involves cost leadership. Throughout the next decade, it is recommended that this organisation gradually explores internet or social media marketing, which is an option that could help it improve overall customer value.
Introduction
An organization operating in the rather competitive, modern retail industry must constantly explore the external and internal environment including client needs and trends. This also includes competitor actions. Doing so enables a company to maintain and improve its competitive edge in the market, and thus enhance results. The retail industry is dynamically changing in terms of competition and clients’ needs, and companies that adapt are in a better position to emerge as leaders. Aldi is one of the firms in the retail industry that has managed to develop an innovative marketing approach, which is increasingly attributed to the firm’s success. Its marketing strategy is anchored on developing customer loyalty through providing clients with increased value and, as noted by Carreno et al (2011, p. 5), Aldi operates exclusively as a value for money organization emphasizing cost leadership. The aim of such a strategy is to persuade clients to develop the urge to make repeat purchases from the company’s stores.
Background