(DOC) Assignment on Marketing Management
14 Pages4231 Words134 Views
Added on 2020-11-23
(DOC) Assignment on Marketing Management
Added on 2020-11-23
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MARKETING
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Explain SOSTAC marketing strategies.......................................................................................1TASK 2............................................................................................................................................7SOSTAC strategy in UK supermarket........................................................................................7TASK 3............................................................................................................................................9Marketing mix strategy in UK and in international market........................................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONMarketing refers to activity taken by the company to promote the buying and selling ofthe product or service. It is a very wide term which includes advertising, selling, strategies anddelivering of products and service to the ultimate customer. Tesco is one of the leading retailer inthe food and non food items and it has a significant internal and external environment as it dealsin the retail sector. The report will highlight the SOSTAC strategy followed by the Tescosupermarket. (Brazil)TASK 1Explain SOSTAC marketing strategies.SOSTAC is a marketing model developed by the PR Smith in 1990 to help in strategic marketingplanning and in business planning. It is rated in top three marketing models which is mostpopular. SOSTAC stands forS- SituationalO- ObjectivesS- StrategiesT- TacticsA- ActionsC- Control1. Situational AnalysisIt is a collection of method which is being used by the manager for the analysis ofinternal and external environment of an organisation which impacts ability of an organisation sothat they can achieve its objectives (Fahy and Jobber, 2015). Situational analysis can be donePESTLE analysis. Tesco is the worlds leading organisation in retail sector operating in 4331retail stores in 14 countries. Tesco is having the largest market share in the UK as well as in theinternational through its marketing techniques. TESCO has maintain there goodwill by providingbest services with the good quality to the customer. Tesco face problems due to fluctuation inprice rates which effects the margin profit of retailers (Hastings and Stead, 2017). Tesco has tosearch more about marketing strategy and search for better substitutes to gain profit in thiscompetitive market. The retailing strategy of Tesco has failed to provide better results which tellsthat Tesco has done weak marketing research. Consumer not able to purchase services due to
high range as retailer fails to maintain its inventory and selection as well.(Kotler and et.al.,2017).By Joining with local companies which can support Tesco in marketing research and helpsto increase their sources of income. Economic changes which disturb market share and profitratio of the world which lead to reduction in sales .High prices of food which leads to reductionin purchasing power of consumer.PESTLE analysis of BrazilPolitical factorPolitical factors greatly influence in the performance of Tesco as it operates globally. Itcovers Tax rates, legislation of the Brazil and the strength of the country where it operates. Dueto the financial instability of the world, many governments give support to the retailers to createthe job opportunities for the domestic public (Lovelock and Patterson, 2015). Tesco wants thattheir organisation is having the great impact on job and the people living there. TESCO performwell in achieving various awards for excellence in retailing and best services provider to thecustomer. Its one of the largest profitable supermarket and has a tough competition with othercompanies across the world. It has lots of property and assets which can provide a greatinfrastructure and financial support to maintain country economy.Economical Factor This factor is the most concern factor of the Tesco as it leverages its cost, price and profit.So the company has to aware of any changes in policies like change in the taxation policy ofBrazil or any other factor which effects the financial stability. Sociological FactorConsumer taste and trends are constantly changing by the time and people wants todeliver their goods fast even on the same day and needs the return policy. People of Brazilbelieves in one stop shopping and bulk shopping. Tesco rely on customers and understand theirissues regarding the service. Now the consumers are becoming more aware for the health so theTesco keeps the food organic as the demand is changing constantly.Technological FactorInnovation in technology brings the various new opportunities for Tesco. As due to theadvancement of technology Tesco introduce the online shopping and self service check points.
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