Marketing strategies of Aarong based on different target market

Abstract

In this report a brief overview of Aarong‟s major business practices in terms of marketing and human resource management has been provided and highlighted. Their internal strategic analysis mentioning their completive position in comparison to their competitors has been discussed as well. Furthermore the values and culture of Aarong and how the two are interlinked with each other has been mentioned. The overview is likely to provide a general idea about how Aarong conducts their business and the strategies and philosophies practiced by them when it comes to doing business in a socially sustainable manner. The research topic of the report has been about the effectiveness of the marketing strategies of Aarong and dissecting its current marketing strategies to see whether it‟s effective or not in helping it to reach its organizational goals and objectives. For doing so the 4 Ps of Aarong has been analyzed, and along with that the segmentation based marketing strategies currently used by Aarong such as geographic, demographic and other qualitative factors that comes into play while targeting customers has been assessed. Another dimension that has been brought in is the use of customer data to design marketing strategies. The major findings of the research has been that Aarong‟s current marketing strategies are solely focused on industry standard practices because of which in most cases innovation and creativity becomes hindered. They also lack optimum usage of data analytics whereby customer data can be better utilized to form campaigns, advertisements etc. Market segmentation can be done in an even more focused manner whereby the exact target group can considered for the advertisements that are likely to be projected towards them. They are also extensively focused on software and IT on certain aspects of marketing hence the lack of human intervention often makes the entire process a bit bureaucratic as the message takes a lot of time to reach the respective department. Lack of adequate market research has been another aspect that Aarong needs to exercise on in order to make efficient use of resources. A proper market research in the form focused group discussion may help Aarong to determine what tools to use for a specific campaign which will be suggested by the participants. Lastly in order to judge the effectiveness of the strategies I have provided my own recommendations based on the areas of shortcoming and what new changes could be made in order to overcome that.