LIDL Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of LIDL analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on LIDL marketing mix, help the brand succeed in the market. Let us start the LIDL Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
LIDL Product Strategy:
The product strategy and mix in LIDL marketing strategy can be explained as follows:
LIDL is a known retail store chain based out of Germany, which caters to almost all countries across Europe and USA. LIDL stores are located at prominent locations across all major cities and towns, and are planned well for customers to navigate and shop conveniently. LIDL focuses on minimizing staff involvement and follows an approach where customers can take goods directly from the cartons.
Some of the other products & services offered by LIDL are LIDL movies, bakeries, mobile brands, home deliveries etc.
Image: Wikimedia
LIDL Price/Pricing Strategy:
Below is the pricing strategy in LIDL marketing strategy:
LIDL is a multi-retail brand and offers products from all the major CPG brands. Since the main products are commodities, groceries & cater to basic goods, the company follows a competitive pricing strategy in its marketing mix.
For a few products, the company also offers lowest-price as compared to the some of the competitors. LIDL company has an annual revenue in excess of €100 billion making it one of the largest retailer brands in the world.
Read more about LIDL
LIDL Place & Distribution Strategy:
Following is the distribution strategy in the LIDL marketing mix:
LIDL is one of the leading retail chains in the world based out of Germany with more than 12,000 outlets. The brand has a wide global presence across Europe and has several stores across the USA as well. Within Germany itself, LIDL has more than 3000 stores and employs nearly 200,000 people to handle operations. With the growth of ecommerce, LIDL also has a significant presence in the online space.
The company provides an end to end online shopping experience for purchase of goods.
LIDL Promotion & Advertising Strategy:
The promotional and advertising strategy in the LIDL marketing strategy is as follows:
LIDL uses a 360 marketing strategy in ensuring high brand awareness for the brand. The company advertises via online channels, social media, TVCs, print ads etc. Apart from advertising, the company also engages with customers via loyalty cards, discount coupons etc. The brand has also sponsored several events.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of KLM.
Process:
Being a service company, the company has several processes which it follows to ensure customer satisfaction. LIDL has several procurement processes, distribution centers, operational processes etc. to ensure that inventory is updated with the stores as per customer needs.
People:
LIDL is one of the leading retail brands employing a lot of people. The prospective employees of the company undergo a careful selection process followed by training of the staff to ensure they are able to cater to the customer requirements. Globally, more than 300,000 people are employed with LIDL.
Physical Evidence:
The physical evidence of LIDL is visible via the product logos, colors, labels and equipment of the brand. The LIDL outlets are also a physical evidence of the company. Since this is where the customers have their maximum interaction, this is the place of moment of truth with the customers. The ecommerce platform for online shopping also is another presence for the brand. This completes the marketing strategy & marketing mix of LIDL.
About LIDL:
LIDL is one of the leading retail chains in the world based out of Germany with more than 12,000 outlets. The brand has an annual revenue in excess of €100 billion making it one of the largest retailer brands in the world.
Globally, more than 300,000 people are employed with LIDL. The first store was found in 1932 by Josef Schwarz.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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