Being a hard discounter Lidl’s mission is keep its unique quality of offering discounted quality products and services to it customers and achieves sustainable growth by increasing market share.
Lidl Marketing Objectives
Keeping in mind company’s mission and background marketing objectives will be determined. As Lidl is striving for growth so Ansoff model is best tool used for determining the marketing objectives. According to Ansoff model (Harvard business review,1957) there are four strategic options available to any company who wants growth. Company may adopt the strategy of market penetration by penetrate with the current existing product in existing market. 2nd option for Lidl is to adopt market development strategy by entering in new market with existing product, 3rd option is product development strategy by introducing new product in existing market and finally company have the option of diversification by entering in new market with new product. So Lidl can achieve growth by adopting any strategy of the combination of strategy.
As company is launching a new product