The marketing mix approach specifically adapts products

LIDLE COMPANY MARKET ANALYSIS

STUDENT NAME:

Based on these conclusions, a suggested marketing strategy has been developed. This plan specifies clear marketing goals that highlight the desirable results Lidl hopes to achieve in the Australian market. It emphasises the value of strategic positioning to set Lidl apart from its rivals and painstakingly identifies target consumer segments that complement the retailer's offerings. The marketing mix approach specifically adapts products, price plans, distribution avenues, and advertising strategies for the Australian market. Important criteria, such as market share, customer acquisition and retention rates, brand visibility, and financial performance indicators, have been identified to assess the effectiveness of the marketing plan. These measurements will enable Lidl to assess the success of its marketing initiatives and make strategic modifications to improve its performance in the Australian market.

1. Introduction:
The purpose of the paper is to examine the viability and effects of Lidl entering the Australian market. Lidl is a network of inexpensive supermarkets based in Germany that has enjoyed significant success and reputation both domestically and abroad. But for any organisation, breaking into a new market presents both considerable risks and obstacles as well as chances and advantages (Shah, 2020). As a result, this report adopts a critical stance to examine the various factors that affect Lidl's market entry strategy, including the industry structure and competition, the characteristics and preferences of Australian consumers, and the political, economic, social, technological, environmental, and legal aspects of the Australian context (PESTEL) (Lidl’s Australian Plans Laid Bare, n.d.). The report's objective is to offer Lidl insightful information and suggestions that would enable them to develop sensible plans of action, get past obstacles, and fully utilise the opportunities presented by the Australian market. The report also identifies the analysis's limitations and suggests topics for additional study.

3.1.3 Replacement Competitors:
Lidl should be aware of replacement competitors and direct and indirect rivals. These are businesses or new trends that have the potential to alter the established retail environment (Hughes, 2021). For instance, developing e-commerce and online food-buying platforms puts brick-and-mortar establishments in danger. To keep ahead of changing consumer tastes, Lidl should evaluate the effects of these substitute competitors and take new measures like establishing a strong online presence and offering delivery services (Lindberg, 2015).

Lidl must create a comprehensive marketing strategy that uses its distinctive value proposition while addressing the particular challenges posed by each competition category, taking into account the competitive landscape shaped by direct, indirect, and potential replacement competitors (Australian Bureau Of Statistics, 2021).

3.2.3 Social Factors:
Conscious choices, particularly in sustainability and ethics, are increasingly influencing the Australian consumer environment (Australia Pestle Analysis - Term Paper, n.d.). Although Lidl's dedication to pricing is commendable, today's consumers also expect transparency, environmental responsibility, and ethical sourcing. Lidl's appeal to the socially conscious Australian market will depend on its capacity to provide products that are not just inexpensive but also consistent with changing societal ideals (Johnson, 2012).

3.2.4 Technological Factors:
Increasing e-commerce and internet buying hurt traditional retail from a technological standpoint. Lidl needs a strong online presence to go along with its reputation for quality in-store (PESTEL Analysis of Lidl, n.d.). To match the convenience provided by online behemoths like Amazon, the digital battlefield requires deliberate investments in e-commerce infrastructure, user-friendly user interfaces, and cutting-edge supply chain solutions (Farrow, 1985). Without a strong internet approach, Lidl runs the danger of losing a sizeable portion of the tech-savvy customer base.

Through carefully focused marketing initiatives and top-notch customer service, Lidl simultaneously hopes to cultivate a loyal consumer base. Lidl seeks to provide individualised experiences that appeal to certain consumer tastes by leveraging customer data and targeted marketing techniques (Xaif, n.d.). This strategy includes specialised counsel, custom offerings, and tailored communication channels. Delivering outstanding customer service is essential for creating delightful customer experiences and developing long-lasting relationships (Marketing Strategy of Lidl, n.d.). Lidl may solidify its position as a shining example of first-rate customer service by making investments in properly trained staff, effective grievance redressal procedures, and attentive customer support (Worthington, 1989). Building a loyal client base is crucial for achieving sustainable growth since repeat customers significantly boost sales and act as brand ambassadors, luring in new consumers through passionate word-of-mouth recommendations (The Lidl Deception, n.d.).

Increasing brand awareness, acquiring a sizeable market share, building a name for itself as an environmentally and socially concerned store, and cultivating a loyal customer base are all part of Lidl's marketing goals for its entry into the Australian market (Hofstede, 1994).

4.2.2 Targeting:
Lidl should give priority to the market segments that complement its core competencies and value offer (Customer and Marketing at Lidl, n.d.). Lidl should concentrate on the following due to its reputation for providing high-quality goods at affordable prices:

•Price-conscious shoppers: Lidl's affordable yet high-quality products will appeal to this market segment and provide them with an alluring substitute for other stores (LIDL, 2022).

•Ethical and sustainable: aligning Lidl's positioning with its sustainability objectives, demonstrating its initiatives to reduce carbon footprint and promote ethical sourcing, which appeals to the group of consumers that are environmentally sensitive (How to Perfect Your Competitive Positioning Strategy, 2022).

Lidl may successfully traverse the complexities of the Australian market and gain a firm footing by segmenting, targeting, and positioning itself in the right ways (How to

WOOLWORTH

4.3.4 Promotion:
Lidl's dedication to comprehending the Australian market must be seamlessly extended through promotional activities. The PESTLE analysis's emphasis on the ubiquitous influence of digital channels calls for a clear shift towards social media

campaigns and digital marketing platforms (HowandWhat.net, 2018). Strategic partnerships with regional influencers and community organisations should be added to Lidl's digital initiatives to strengthen its ties to Australia. Although traditional media outlets are still relevant, the emphasis on digital marketing is a direct reaction to the social and technological shifts that influence Australian consumer behaviour (Capon & Hulbert, 1975). This coordination of marketing initiatives demonstrates Lidl's flexibility and attention to the regional market (Pro, n.d.).

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