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International Marketing Strategies of TESCO

   

Added on  2020-06-06

9 Pages2203 Words42 Views
INTERNATIONALMARKETING

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1TASK 2............................................................................................................................................3CONCLUSION ...............................................................................................................................5REFERENCES ...............................................................................................................................6

INTRODUCTIONInternational commerce process involves marketing principles in more than one country.It involves global marketing which gives new strategies and business plans. In this project,international strategies of TESCO will be discussed. TESCO is the British multinational groceryand general merchandise retailer. It deals with Books, Clothing, Electronics, Furniture, Toys,Petrol and software. It expands their business by providing variety of products and services. Itsatisfies the needs of customers by providing products and services at low prices. It has morethan 500 stores across the world. It will also explain the market entry strategies which helpscompany to maintain its position in the new market. TASK 1Marketing is the process which identifies data and helps company to sell product andservices (Akaka, Vargo and Lusch 2013). Marketing information helps company to make newproducts and marketing strategies. On the other side, marketing involves product, price, placeand promotion which identifies the product’s quality and features. Marketing process helpscompany to improve the image in market. it helps TESCO to accomplish the overall objectivesand create new business plans. Overall marketing is more of a science than art. There are somemarketing theories which help to increase the business growth of TESCO. Marketing Mix 7 Ps: This is the theory by which company measure the external factors andcustomer needs and wants and make product plans. Marketing 7 Ps includes Processes, People,Physical Evidence, Product, Promotion, Price and Place.Product: Product is the main element by which company earns maximum profit(Armstrong, Kotler, Harker and Brennan, 2015). TESCO has different product andservices by which they attract customer satisfaction and earn business value. This theoryof marketing helps to identify the current trends in market and customer needs. After that,they make product strategies. Promotion: Promotion is the second marketing mix element. It is the essential activity topromote the product awareness. In promotion mix they include advertisement, PersonalSelling, Sales Promotion, Social Media, Exhibition etc. these all promotional activitieshelps to increasing the product sales which is very important for the TESCO (Armstronget.al, 2015). 1

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