Introduction To Marketing

Introduction To Marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK...............................................................................................................................................1
Marketing audit of current business performance.......................................................................1
Research on market segmentation...............................................................................................5
Marketing Strategies...................................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
The term marketing is defined as a business function or the set of process that is engaged
in creating, communicating and delivering better value products or services to the customers.
Marketing is managed and followed by customer relationship that results in developing and
accomplishing mutual benefit for business and its stakeholders. This report is written from the
perspective of Tesco and it is one the largest retail organisation among all over the UK.
Supermarket, hypermarket and superstore are different types of stores that is managed and
controlled by authorities of Tesco and its headquarter is situated in England (Fatricia, 2017). This
report highlights on marketing audit of business's current business performance and on the
organisation current marketing strategy and position of organisation in market. Along with this
market segmentation criteria to accomplish company targets will also focused in the report for
enhancing market size of business.
TASK
Marketing audit of current business performance
The term marketing audit is defined as a comprehensive, organised and systematic
analysis of the business to perform business task in an appropriate manner. The main motive of
marketing audit is to perform marketing functions and operations according to the marketing
environment. Internal and external both conditions are identified by management that is leading
business to highlight areas which perform well so the organisational performance and
management both are improved. Along with this marketing audit is defined as the thorough
review of marketing plan, strategies and the focus on current activities which is executed in the
business operations and functions of TESCO (Oh and et, al., 2017). Some reasons are conducted
by the organisation that supports for marketing audit of TESCO and it is mention as follow:
 Increase in marketing activities- With the analysis of marketing activities it is identified
that all business are concerned about execution of their day to day activities that helps to
manage business for accomplishing a long term goal or objective. At the time of
implementing marketing strategy it is identified that long term goals are executed to
achieve goals and objectives of Tesco in an appropriate manner. Marketing audit work
the way or method that is used to execute business successfully by monitoring that
executing steps accomplish TESCO marketing goals in specify period.
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 To check all steps are performed- The term marketing audit helps the management to
explore all marketing activities that are implemented by TESCO to implement and
evaluate business functions in a successful manner. This is also used to evaluate business
activities that helps in accomplish of company objectives with right facts and figures. It
defines opportunity and marketing areas are performed to employ tactics that helps to
achieve more success in market functions and operations.
 To get In-depth information about competition- For the successful marketing an
organisation require in-depth understanding about several concepts that includes market
and target audience (Otter and Wetherly, 2014). With marketing audit there are different
factors are gained that helps in analysing competition factors. Tesco utilise marketing
audit for exploring strength and weakness of competitors that helps to develop strategy in
accomplish of company goals and objectives.
 Reduce money and time in long term plans- With the constant and continue check-in
and the check out of analysing company process. It is easy for organisation to ensure that
there is no waste in the money and time of company to operate company plans.
Marketing audit of Tesco conduct regularly helps to enhance the marketing investment
and it helps in accomplish of company activities which work best for the business plan.
This results that time and money for Tesco is ensured by making activities which
improve benefits for company for long run.
Current marketing strategy of Tesco
With an existing and clear understanding of business plan it is identified that marketing
activities leads an organisation to perform their work at global level by promoting business
actions with an accurate marketing strategy. The existing marketing strategy of TESCO
undertakes the methods of Brand positioning and according to steps of brand positioning
marketing strategy of TESCO position the company brand. Along with this positioning is
transparent and clear which helps to set the mind of consumer towards company products. The
existing aim of organisation is to reach at every aspect of market. This leads TESCO to position
itself as the high-volume low cost retailer. But with the globalisation of business and industries
Tesco analyse that it is important for organisation to promote products with new strategy that
demonstrate new value for company (Gong, Liu and Zhu, 2019). This also refers it helps Tesco
in demonstrating premium range of products. With this positioning, organisation also try to
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