Creating value through the marketing mix An Aldi case study
Page 2: The marketing mix
The Chartered Institute of Marketing describes the term marketing as the process:
‘Responsible for identifying, anticipating and satisfying consumers requirements profitably.'
This places consumers at the heart of every organisation. The marketing mix is often referred to as the four Ps. It involves creating a unique blend of the right product, sold at the right price, in the right place, using the most suitable methods of promotion.
A marketing mix is a complex set of variables. The marketing mix of every business will be different. Aldi’s mix focuses on providing high quality products that are cheaper alternatives to famous brands. Aldi’s marketing mix therefore focuses on:
Product – high quality ‘Like Brands’.
Price – Aldi offers lower prices than its competitors without compromising on quality.
Place – Aldi outlets are expanding globally.
Promotions – Aldi uses a combination of above-the-line and below-the-line promotions with a focus on its ‘Like Brands’ and ‘Swap & Save’ campaigns.
The AIDA model can be used to demonstrate the aim of any promotional activity:
Initiate awareness amongst customers.
Generate interest for and desire to have the product(s).
Leading to customers taking action to purchase.
Aldi uses a variety of communication methods and channels to increase the impact of its promotional activity and meet the aims of AIDA.