Introduction to Marketing - Desklib

This report by Desklib discusses the concept of marketing, 7 Ps of marketing, Ansoff's growth matrix, and digital marketing. It provides insights on Tesco's marketing strategies and SWOT analysis. The report is based on the study of various books and journals.

Introduction to Marketing
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Table of content
Table of Contents
Introduction......................................................................................................................................3
Marketing and 7 Ps..........................................................................................................................3
Explain the concept of Marketing...............................................................................................3
Define extended Marketing mix in aspect of the organisation...................................................3
Marketing and Competitiveness......................................................................................................4
SWOT Analysis..........................................................................................................................4
Ansoff's Growth Matrix...................................................................................................................5
Description of Ansoff's growth matrix........................................................................................5
Ansoff's matrix to analyse growth strategies at the organisation................................................5
Digital Marketing ............................................................................................................................6
Use of digital marketing to improve performance and growth...................................................6
Conclusion ......................................................................................................................................7
REFERENCES................................................................................................................................8
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Introduction
The report will discuss upon the concept of marketing. Marketing is a broad concept that
comprises of activities like exchange of commodities, services as well as money in order to
provide maximum value to their customers. Marketing focuses upon the satisfaction of needs and
wants as well as upon building the long term goals (Dwivedi And et.al., 2020).
The report revolves around the marketing concept of Tesco. Tesco is a UK based retail
sector organisation that was founded by Jack Cohen in the year 1919. The organisation deals in
various grocery as well as general products.
Marketing and 7 Ps
Explain the concept of Marketing.
Marketing is referred to the concept where in an organisation promotes selling and
promotion of products and services in the market. Marketing comprises of various actions that
are undertaken by an organisation to attract customers in order to maintain strong relationships
with the customers or the clients (Fahy and Jobber, 2019).
Define extended Marketing mix in aspect of the organisation.
The marketing mix comprises of 7 elements namely product, price, place, promotion,
people, physical evidence and process. The marketing mix in essence of Tesco have been
discussed below.
1. Product- Tesco deals in a wide variety of goods such as grocery items as well as general
products like apparels, cosmetics, stationery products, etc. The organisation focuses upon
fulfilling the needs and requirements of every minute requirement of the consumer.
2. Price- The pricing strategy adopted by Tesco is Cost leadership. Due to this, the
organisation keeps the focuses upon keeping the price of the products low without
compromising with the quality. Also, Tesco enjoys economies of scale and focuses upon
building efficient supply chain.
3. Place- Place is referred to the channel of distribution used by the organisation. Tesco
uses both online as well as offline channels in order to circulate their products in the
market. The organisation has established over 7000 stores along with the online platform
through its websites.
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4. Promotion- Tesco uses various promotional strategies in order to promote its activities
and business through the medium of television, newspaper as well as other social media
platforms. The promotional strategies are used in order to attract customers towards the
organisation (Jarek and Mazurek, 2019).
5. Physical evidence- Physical evidence is referred to the various tangible stuffs that have
existence in the environment or the market. The physical evidence of Tesco include
Business cards, stores, logos, offline stores as well as website of Tesco.
6. Process- Process is basically a set of activities that are performed by the organisation in
order to accomplish their tasks. At Tesco stores, the customers pick their products and go
to customer assistance, they also have methods to make self payment.
7. People- Tesco has a huge number of employees who play an important role in the
organisational success. Tesco invests a huge amount in training and development of the
employees.
Marketing and Competitiveness
SWOT Analysis
The SWOT analysis helps in depiction of various strengths, weaknesses, opportunities
and threats of an organisation. The SWOT analysis helps in analysing the market and thereafter
taking possible actions in order to strengthen the business in comparison with the competitors.
The SWOT analysis of Tesco has been discussed below.
Strengths Weaknesses
 Tesco has been serving a wide and
diversified base of customers in the
market and is not focussed upon just a
single segment in the organisation.
 Tesco has a strong portfolio in order to
sell equipments and services that fulfil
customer demands.
 Patents and patent licensing agreements
are strengths of Tesco for its core
business operations.
 Infringement controversies are the
weakness of Tesco that hinders the
image of the organisation in the market
for violating patents of other
organisation.
 The business operations of Tesco are
quite concentrated in specific regions
like North America that can have a
impact of slowdown upon the
organisation (Jena and Panda, 2017).
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Opportunities Threats
 A continuous investment and efforts in
research and development is an
opportunity for the business growth in a
competitive environment.
 Tesco can plan for various strategic
acquisitions that will help in substantial
growth of the organisation and limit the
competitors.
 Changes in the global economic
environment along with seasonal
variations are a threat for the
organisation.
 Risk in oil and gas industry is also a
threat for Tesco.
Ansoff's Growth Matrix
Description of Ansoff's growth matrix
Ansoff's growth matrix was developed by the business manager and mathematician H
Igor Ansoff in 1957. There are various risks that are associated with the business expansion and
these are highlighted by Ansoff's matrix in order to help the various marketers. There are four
strategies of the matrix, namely Market penetration, Product development, Market development
and diversification (Kotler, Pfoertsch and Sponholz, 2021).
Ansoff's matrix to analyse growth strategies at the organisation
The two among four quadrants of the matrix have been discussed in aspect of Tesco below.
 Market penetration- Market penetration focuses upon increasing the sale of existing
products in the existing market of the organisation. Tesco has used market penetration
strategy in order to expand its business in the market. The strategy has been proved
helpful in order to increase the market share of the organisation along with its use of
products by the existing customers in the existing market. The reason behind the success
of market penetration strategy of Tesco is that it has been focussing upon the cost
leadership strategy along with attractive ad campaigns. The risk behind the market
penetration strategy is that it can at times limit the profit margin of Tesco in the market.
 Product development- Product development is referred to the introduction of new
products within the existing market. Tesco has come up with various product under its
own brand in order to compete and sustain in the market. Tesco deals in their own as well
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other brand products too in order to fulfil the customer needs and demand in the market.
If Tesco had not launched various products under its own brand name, then in that case
the competitors might have had the power of negotiation while resulting in lesser profits
for Tesco. The risk behind product development strategy is that it is cost consuming.
Development of new products in the market requires high cost and high efforts in the
organisation (Terech, 2018).
Digital Marketing
Use of digital marketing to improve performance and growth
Digital marketing is basically a component of the marketing concept wherein the
marketing process is carried on with the help of internet and technological devices. The various
technological devices include laptops, mobile phones, desktop along with digital media that help
in promotion of products and services through online platforms. Digital marketing is of huge
significance in the present technological era. The various forms of digital marketing are search
engine optimization, pay per click, content marketing, social media marketing, email marketing,
mobile analytics, etc. The various digital marketing tools that help in improvement of the
performance and growth of an organisation have been discussed below.
 Search engine optimization- The digital marketing tool of search engine optimization is
important in order to increase the attraction towards the website. This helps in enhancing
success of the organisation. Tesco has collaborated with Big Mouth Media for the search
engine optimization campaign of the organisation.
 Email marketing- Email marketing strategy comprises of sending information regarding
the products and services by the organisation to the potential customers of the
organisation. It has been determined that Tesco has gained nearly 60% online revenue
with the help of email marketing (Zhang, Pitts and Kim, 2017).
 Online advertising- Online advertisement is one of the most effective advertising
process that facilitates the organisation to have a closer relationship with the customers.
Tesco can use various kinds of social media platforms like Facebook, twitter, etc.
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Conclusion
It can be concluded from the report that Marketing is of huge significance. The concept
of marketing has been discussed in the aspect of a primary organisation wherein 7 ps of
marketing have been discussed such as product, price, place, promotion, physical evidence,
people and process. The marketing tactics that can be used by the organisation in order to remain
competitive have also been discussed in the report along with the growth strategies of ansoff
matrix. Further, the digital marketing tools have been discussed in light of the organisation that
help in growth and success.
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REFERENCES
Books and Journals
Dwivedi, Y.K. And et.al., 2020. Editorial introduction: Advances in theory and practice of
digital marketing.
Fahy, J. and Jobber, D., 2019. EBOOK: Foundations of Marketing, 6e. McGraw Hill.
Jarek, K. and Mazurek, G., 2019. MARKETING AND ARTIFICIAL INTELLIGENCE. Central
European Business Review, 8(2).
Jena, A.B. and Panda, S., 2017. Role of marketing automation software tools in improving or
boosting sales. Splint International Journal of Professionals, 4(7), pp.30-35.
Kotler, P., Pfoertsch, W. and Sponholz, U., 2021. H2H Marketing: The Genesis of Human-to-
Human Marketing. Springer.
Terech, A., 2018. An introduction to marketing and branding. Generations, 42(1), pp.45-49.
Zhang, J.J., Pitts, B.G. and Kim, E., 2017. Introduction: Sport marketing in a globalized
marketplace. In Contemporary sport marketing (pp. 3-22). Routledge.
Dwivedi And et.al., 2020 Fahy and Jobber, 2019 Jarek and Mazurek, 2019 Jena and Panda, 2017
Kotler, Pfoertsch and Sponholz, 2021 Terech, 2018 Zhang, Pitts and Kim, 2017
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