International Market Research and Prospects

 
 
International Market Research and Prospects
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International Market Research and Prospects
Successful businesses in today’s market require aggressive marketing, constant growth, and the ability to maintain their relevance and value in the eyes of their customers. Fast-moving firms with unclear intentions or aims for international expansion will have less room for practical change efforts to help them modify and adapt to a new market environment. Advances in technology and operations aid in maintaining these critical areas; therefore, planning to do commerce in international corporate environments is vital since it allows for the modification and evolution of these components. Products, beliefs, operating methods, and ambitions must be linked with a country’s limits and market potential to succeed. As Albrecht Discount (Aldi) expands internationally, it enjoys increasing popularity, positive feedback from customers, and financial success.
Background
In Essen, Germany, a tiny family discount retailer (Albrecht’s) was the forerunner of today’s Aldi, founded in 1946. Karl and Theo Albrecht, two brothers, launched the first Aldi shop in 1961. German business operations were split between the northern and southern hemispheres in 1967 after a demerger. Products from Aldi include fruits and vegetables, meat, liquor, and housewares, all of which are not generally associated with the Aldi brand. The Siepmann Foundation, which heirs of the Albrecht family-run, owns Aldi and its core brands outright; therefore, the company is not dependent on outside investors for its day-to-day operations (Aldi Corporate, 2022). Currently, Aldi does not provide the option of purchasing stock or franchising because it is a privately operated firm. Trader Joe’s, the American grocery store chain that Aldi (Nord) bought outright in 1979, continues to work independently under the ownership of Aldi (Nord).
International Business Strategy
I’ll use Aldi’s globally rare product lines to use the worldwide marketing approach for Aldi’s international expansion activities. Aldi’s foreign expansion began in 1967; the company has more than 10,000 outlets in 19 countries (Bhasin, 2018). The most significant danger to Aldi’s success in the food retail sector of the consumer goods business is the German grocery chain Lidl, even though Walmart and other worldwide retailers are formidable competitors. Even though Lidl isn’t as strong as Aldi, its planned growth in the United States poses the greatest threat to Aldi. Lidl’s parent business, the Schwarz group (a multi-industry corporation), has aggregate revenue revenues that statistically outperform Aldi’s, although Lidl lags behind Aldi in the consumer goods firm’s food retail category as a single company.
Aldi aims to spend $1.9 billion refurbishing current stores and $3.4 billion to build and open 800 new stores in the United States by 2022. Aldi picks regions and places with no discount stores present and then conducts commercial and environmental studies to determine the optimum location for its activities (Cateora et al., 2016). There is a “Real Estate” option on the company’s website where the public can suggest Aldi locations. This offers an opportunity for the company’s offerings to be publicized, known about, and possibly of interest to new customers. Although franchising isn’t an option, the store’s reputation as a place where customers can get good deals on groceries sustains public interest.
Recommendation for Geographic Location
 Without understanding the consumer market climate in Africa’s advanced nations, I would recommend that Aldi consider expanding on the continent. The suggestion is based on Aldi’s agricultural relationship with Farm Africa, an innovative organization that alleviates poverty by empowering African farmers to develop their earnings sustainably. Entering nations in this zone should not be challenging for the corporation due to their established presence and the partnership’s social and economic benefits to the gross domestic.
 
References
Aldi Corporate. (2022). Homepage [ALDI History]. ALDI US. https://corporate.aldi.us/en/aldi-history/.
Bhasin, H. (2018, October 30). Top 17 Aldi Competitors – Competition of Aldi in Retail Market.
Marketing91. https://www.marketing91.com/top-11-aldi-competitors/
Cateora, P., Gilly, M., Graham, J.,