Internal Business Information of Tesco

This presentation discusses the internal business information of Tesco, including its mission, aim, objectives, and goals. It also explores the smart objectives chosen for Tesco's retail marketing plan.

Business
Communication
P2 Internal business information of Tesco

Mission
• 'We make what matters better, together.' Whilst a
vision outlines the aspirations of senior managers, a
mission statement is a general expression of the overall
purpose of the business. It communicates the goals of a
company to all stakeholders.

Aim
• Tesco aim to become/stay there leading retail
supermarket and provide good quality services and
products at a low cost so that they are cheaper than their
competitors.

Objectives
• Objective one - to maximise sales and with doing so increase their profits.
If Tesco to maximise their sales the second half of the aim (increase their
profits) will happen on its own. Tesco may try to maximise their sales by
cutting prices, more in store deals, expand existing stores sell more stock
can be held and build new stores to attract more customers.
• Objective two – Decrease their prices. Tesco aim to make shopping cheaper
for the average household. They aim to do this by cutting prices and offering
more in store deals. They may have many objectives in order to reach this
aim. One objective they may use is offering customers bargains, like to buy
one get one free, by two and get the third free and a percentage off the
original price.

Contd….
• Objective three – Introduce more healthy eating
products into the wide range of groceries they supply. The
advantage of introducing more healthy living products is
that Tesco will; attract many more customers that are
interested in healthy eating products, make Tesco an
established business four providing healthy eating
products. Tesco aim to create a wide range of healthy
eating products from organic turkeys to healthy living
ready meals.

Contd….
• Objective four – Tesco aim to develop a large Internet shopping site.
Tesco aim to provide groceries, electronics and clothing goods as well
as a number of their services online. Tesco are aiming to develop the
online shopping experience, if they are successful in doing so they
may attract many more customers which will help them achieve
objective one. This will help them achieve objective one because by
attracting new customers that are unable to shop in store they will
gain more sales which means they will maximise profit.
• Objective five – to provide jobs to their local community. Tesco aim to
reduce the unemployment in local areas where Tesco Stores are built.

Goals and objectives:
The smart objectives chosen for the retail marketing plan for Tesco are:
• The primary aim of retail marketing plan is to make sure that the chosen brand
is represented visually to the target audience, hence investing in designing the
store or creative magazines, giveaways, etc will be the focus of this marketing
plan. Furthermore, the marketing will be far more focused with this approach.
• Another aim would be to make sure that the retailing allows the customers to
'discover' the product as a must-have which will deflect their attention from the
pricing criteria. This can be done through focusing primarily on the product
and its quality - making the customers believe that they are investing in a
product that is worth the price tag.

References
• Ang, L., 2014. Integrated Marketing Communications A focus on new technologies
and advanced theories. Cambridge University Press.
• Cerne, A., 2012. Market Communication as Socio-Political Activity in Emerging
Markets Business Society and Politics. International Business and Management. 28.
pp.85 – 103
• Chitty,W. and et.al., 2011. Integrated Marketing Communications. Cengage Learning.
• Cochoy, F., 2014. The American Marketing Association: A handrail for marketers and
marketing history. Journal of Historical Research in Marketing. 6(4). pp.538 – 547
• Dahlen, M., Lange, F. and Smith, T., 2010. Marketing Communications: A Brand
Narrative Approach. John Wiley and Sons.