Aldi Marketing Mix

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In increasingly competitive markets, consumers have a greater choice over where they buy their goods and services. For an organisation to meet its business objectives, it has to find out what consumers require and then identify the best way in which it can satisfy these needs and wants. Creating a competitive advantage can be difficult. A unique marketing strategy with clear objectives is vital to ensure effective promotional activity.
Since opening its first store in 1913, Aldi has established itself as one of the most reputable retailers in the global business market by providing great value and quality. Aldi’s goal is simple; ‘to provide our customers with the products they buy regularly and ensure that those
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This enables them to get the finest quality products that Aldi then sells under its own brand labels.
Selecting the prices is one of the most difficult considerations when developing a marketing mix. Different pricing strategies that are commonly used include: * Market penetration – charging lower prices for new products to help them enter the market and gain market share quickly. * Competitive pricing – pricing at a slightly lower prices than competitors. * Strategic pricing – emphasising the quality or brand positioning of a product to allow a higher price to be charged.
Competitive pricing is a key strategy for Aldi. Aldi is able to offer quality products at low prices as it buys in great volume. The fact that Aldi buys such large quantities of these products allows great leverage for negotiating the best possible prices with its suppliers. This is called economies of scale. Buying large quantities of each product allows Aldi to pass these savings to its customers.
The place element of the marketing mix involves identifying where the product or service will be sold. Aldi keeps its store layouts simple to limit waste and keep costs down. This means Aldi can focus on offering its customers the lowest possible prices for its products. When considering new store locations, Aldi takes into account: * the number of people visiting an area as well as the demographic of the area - for example, the population of the

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