Analysis of Retail Business and Marketing Strategies

The provided assignment details a collection of research papers and studies related to retail business and marketing strategies. The documents cover topics such as consumer behavior, brand equity, customer visit segmentation, and supply chain risks in Indian apparel retail chains. Additionally, there are discussions on the impact of music on shoppers' shopping behavior in virtual reality retail stores, and the viability prediction for retail business units using data mining techniques. The assignment includes a list of references from various journals and publications.

RTP REPORT

Table of Contents
INTRODUCTION ..........................................................................................................................1
Retail industry ............................................................................................................................1
Company ....................................................................................................................................1
MAIN BODY...................................................................................................................................2
Relevant changes in fashion retail ..............................................................................................2
Relevant changes in micro environment ....................................................................................3
Strategies and tactics ..................................................................................................................4
Recommendations ......................................................................................................................6
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Retail industry
Retail industry dominated and emerged with the dynamic and fast paced industries. In
this consideration, different enterprises are come as the new players. The company considers
several kinds of operations and functions, to enhance GDP of the nation. It is the best way to
attain creativity and desired results as well (Griva, Bardaki and Papakiriakopoulos, 2018).
Furthermore, in the UK, there are several business operating in these kinds of functions and
operations so that effectiveness could be develop to focus on the global expansion. Moreover,
implementation of internet, businesses able to consider high growth in the retail industry with the
largest population and attract different kinds of customers as well. Rapid urbanisation and
development of the business help to make organised retail market that valued at business to
business and business to customers as well. Expansion of economic benefits also help to
concentrate on the promoting products and services.
Company
Tesco is one of the major retail brand in UK. They are dealing in different kinds of
products and services to attract customers and develop market in systematic consideration. In the
country, the chosen company consider as the largest group so that effectiveness also developing
to concentrate on the strengthened foundation to accelerating plans to deliver most compelling
offers for customers with sharp price. It is started to do operations in 1919 in London areas. They
are continuously focuses to make innovations and expansion of operations in different areas of
nations. In addition to this, the company also implement improvement in the quality and better
services to focus on the creativity. The company introducing club card in 1996 so that there are
maximum 38 million customers attracted at workplace.
In addition to this, the company also able to implement own label range to make
substantial and growing strategic importance in the business environment. It is the first
supermarket in UK which create their own value range in 1993 to continuously develop drive
with pace of innovations. Mainly the company create their operations and functions to attract
customers in the largest two brands. With the consideration of innovations, the country mainly
attract their maximum customers to focus on the cheapest supermarket. Hence, Tesco also deals
in the different kinds of products range in the country to focus on the customers' attraction. In
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respect to make more expansion and development activities implemented to attain more profits
and revenue.
MAIN BODY
Relevant changes in fashion retail
In respect to implement changes in the fashion retail for Tesco, it is important to look
towards the relevant consideration that are needed in the business unit. Tesco deals in
multinational brand for food retailing in UK. After Wal-Mart, the chosen company considered
their operations and functions to increase profits and revenue. In addition to this, the company
also providing finance, mobile, insurance, etc. (Chernikova, Faizova and Kozhevnikova, 2015).
Following factors included that ascertain relevant changes in the retail industry: Political factors: Retail company getting impact from several times in all over the world
so that political factors are highly influence to performances of the Tesco. In this
consideration, different elements included that create major impact on the operations and
functions of the country such as tax rates, legislations etc. Government of the country
encourages different retailers to create job for domestic population to that employment
opportunity increasing workforce (Griva, Bardaki and Papakiriakopoulos, 2018). Economic factors: Economic factors are important consideration that concern in Tesco
which is more likely to the leverage costs, demand, profits, etc. Hence, it is important for
the business to know about the proper awareness in any changes of policies like taxation,
etc. It is important to expand business operations in the international market which is
quite depended on the UK. Market share of the company also increasing around 30% so
that economic factors helps to implement value of brand for luxuries items. Social factors: In respect to implementation of variety of social changes, trends are also
indicates customers in the UK. It helps to focus on the increased number of food items
that offered in sales. Type of goods and services demanded by the customers is mostly
influences with attitude, belief, etc. Hence, it is important to implement approach to focus
on changes that make constantly at workplace (Hair Jr, Wolfinbarger and Page, 2015).
The chosen organisation adopt these changes through accommodating products demand
of organic. In order to fulfil demand and requirements of the customers, it is important to
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look towards the needs of customers and market trends so that effectiveness could be
increases. Technological factors: Advancement in the technology consider several opportunities for
the chosen business. In this consideration, development and introduction are two main
elements of the business such as development and introduction of online shopping. In
respect to make facilities for home delivery, self services are also looking at the point of
convenience and ease for customers (Hair Jr, Wolfinbarger and Page, 2015). Hence,
Tesco invested more money yo increase efficiency and performances with long term
objectives. It will also consider expansion to reduce carbon foot print to implement
significant advantages at workplace. Advance technology implementation help to
considered different advantages to attract maximum customers at workplace. Legal factors: Further, government policies and legislation also directly impact to the
performances of Tesco. Hence, the chosen business need to maintain security and
standard in their food items to create effectiveness. It will assist to look towards the
changing prices for demanding payments from suppliers. In order to facilitate policies
and regulations, effectiveness could be maintained in the enterprises for grocery stores. In
respect to maintain proper functioning, it is important to the chosen business to look
towards the legal elements that created by the government of the country (Chernikova,
Faizova and Kozhevnikova, 2015).
 Environmental factors: In order to implement protection for environment consideration,
it is important to look towards the addressing environmental issue so that there are
several ways adopted by Tesco to maintain society benefits and committed to reduce
carbon. In addition to this, the chosen business also minimise waste produced in their
stores wastage. It is the best way to attain more significant advantages and dealing for
conscience in customers.
Relevant changes in micro environment
In respect to recognised the operations and functions in business, there are different
relevant changes need to implemented in the micro environment. They are as follows: Strength: In order to deal with the international market, Tesco consider their operations
and functions with the largest grocery retailer. There are several operations and functions
in the business operates in more than one nation. The company also implement advance
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strategy which accepted to sell products and services as per the market demand (Dad,
Rehman and Davies, 2018). Furthermore, the chosen business also aspires to concentrate
on products guarantees which help to satisfy customer demand and requirements. Weaknesses: However, there are certain weaknesses of Tesco exist in which the company
is unable to act very well to compare their performances with last years' transaction. In
the chosen business, there are many products remembered in 2009 which led due to
losses of damage with its brand image (Chernikova, Faizova and Kozhevnikova, 2015).
Furthermore, the company has low key operations so that concentration is needed with
British retail sector which recorded for more than 75% income. Due to shortage of the
geographical variety, it has been noticed that weaknesses create negative impact. Opportunities: Furthermore, the company has several opportunities to deal in
international market and increasing their effectiveness as well. In this regard, they can
implement commercial portfolio network for Tesco outcomes and results. The company
can open more shops in international areas to expand their functions and operations
(Çifci, Ekinci and Siala, 2016). In the global areas' expansion, the selected business able
to deliver effectiveness in the country.
 Threats: Global expansion sometimes create problems because there are several other
enterprises exist which deals in this sector. Due to high competition in the UK market,
the chosen business getting impacted by the competitors. It creates impact on the business
and it is influence by the business sales (Hair Jr, Wolfinbarger and Page, 2015).
Therefore, it is important to look towards the creative results which help to focus on
increasing business profits and revenue.
In the grocery market, there is high competition so that it create crucial impact on the
retail sector. In order to focus on the intensive competition, it is important to look towards the
competitors performances and increase effectiveness as well. It will help to attain social benefits
and development program as well (Griva, Bardaki and Papakiriakopoulos, 2018).
Strategies and tactics
In the international market, there are several challenges exist that faced by Tesco. Main
issue that face by the business is competitive advantage. This is because, in the Tesco, there are
several aspects exist in which they need to make concentration on the competitive forces that are
as follows:
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Threat of substitute products and services (Moderate) : In the country, there is high
threat of substitute products and services. This is because, there are several businesses dealing in
this sector and it impacts negatively on the outcomes to perform functioning in Tesco. In respect
to look towards the food retail business. On the other hand, Tesco also seizes their shops to
opening their businesses in local areas so that obstacle also consider with replacement to enter in
the market. Customers could easily buy products and services from other businesses who are
main competitors of the organisation. Therefore, it is important to look towards the some
extraordinary elements that are requires in the business (Schaltegger, Lüdeke-Freund and
Hansen, 2016).
Threat of entry of new competitors (Low) : In the country, huge capital is required in the
business to operate functions and operations in the retail and fashion industry consideration. In
this regard, it is important to look towards the food retail market which needed new participants
to make something exclusive low price for the products and services. It assists to look towards
the same innovation that require implement in Tesco. In order to look towards the some unique
characteristic, the chosen business able to attain effective functioning in the business
environment. As results, it helps to concentrate on the products and services fulfilment at
workplace (Brea‐Solís, Casadesus‐Masanell and Grifell‐Tatjé, 2015).
Intensity of competitive rivalry (High): In the country, there is intensive competitive
rivalry exist of different businesses. For example, Asda, Sainsbury, Morrisons, etc. They all are
also provided different types of retail products and services to perform functions and operations
in the nation. In order to look for development process, it is important to increase shares of the
business to compete with them. In addition to this, in rural areas, the chosen business unable to
reach so that it also create issue to target them in the business environment. In this consideration,
competitors are also made strengthen in the business environment. With regards to focus on the
basic consumers' requirement, it is important to look towards the other enterprise that make
growth with innovation (Johansson and Kask, 2017). In this way, Aldi, Lidl, etc. consider their
operations and functions in recession time. Therefore, it is important to look to make high
growth to increase sales.
Bargaining power of buyers (High) : Market power of buyers is enough so that it is
important to look towards the products that make small differentiation with more standardisation
in the country. In respect to develop the switching cost, it is important to look towards the brand
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to another by Tesco. As results, they are able to attain desired results and growth as well. As per
the customer demand and market trends, the business need to deal in products and services so
that it assist to look towards the availability retail visiting in shopping online and focus on the
pricing strategy as well (Venkatesh, 2016).
Bargaining power of suppliers (Low) : Bargaining power of suppliers in the UK towards
Tesco is low. This is because, there are several suppliers exist in the market who are looking to
make innovative functions and operations in the business environment. In respect to this, the
chosen business can easily consider their purchasing from different suppliers so that it quite low
impact on the company. Along with this, there are several larger supermarkets exist who
concentrate on the positioning to make effectiveness in the business (Hu, Liu and Huang, 2016).
Therefore, it is important to look towards the other competitors who deals in this aspect with
negotiation to receive the lowest price from suppliers.
Recommendations
In order to provide recommendation to the chosen business, following elements are
implemented in it: Training and development: In order to develop effective results in Tesco, it is important
for them to focus on the training and development program for employees. It will help to
attain desired results and attain more significant advantages as well. It will assist to
increase knowledge, understanding, etc. among staff members so that they can part to
develop effective results at workplace. When company arrange their program to develop
training and development activities for staff members, they can easily concentrate to
focus on the relevant information which requires at workplace (Ivanov and Mayorova,
2015). Concentrate on innovation and creativity: Along with this, Tesco need to also make
their concentration on innovations and creativity. This is because, with the help of the
creativity the company can develop their effectiveness to attain desired results. With the
help of the adding new features with innovations, they can attract more customers in the
business unit (Venkatesh, Rathi and Patwa, 2015). Therefore, it will assist to look
towards the business position. Innovations and creativity helps to attract maximum
people in business who are looking to consider more targets and goals at workplace.
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 Expansion in global areas: Further, Tesco need to expand their operations and functions
in those areas where they are not existed. This is because, with the help of the some
effective innovation and creativity, the company can make their operations in global
environment. It will assist to look towards the further important consideration (Marinakos
and Daskalaki, 2016).
CONCLUSION
In order to focus on the present report, it can be stated that Tesco deals very well in retail
sector. However, there are several issues exist in the UK which face by the company and create
negative impact as well. In order to make solution different tools and techniques has been
implemented at workplace. Furthermore, report summarized about the PESTLE analysis which
help to show effectiveness in the company regarding business goals and objectives. Therefore, it
assists to find effectiveness in the nation with implement macro environment analysis. In
addition to this, report also concluded about the SWOT analysis that assists to consider micro
environment analysis and looking for further expansion consideration with opportunities. In
respect to look towards the strategies and tactics, report articulated about the porter five forces
model which help to determine impact of different elements in the business.
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REFERENCES
Books and Journals
Brea‐Solís, H., Casadesus‐Masanell, R. and Grifell‐Tatjé, E., 2015. Business model evaluation:
quantifying Walmart's sources of advantage. Strategic Entrepreneurship Journal, 9(1),
pp.12-33.
Chernikova, L.I., Faizova, G.R. and Kozhevnikova, N.V., 2015. Functioning and development of
retail banking in Russia. Mediterranean Journal of Social Sciences, 6(6 S4), p.274.
Çifci, S., Ekinci, Y. and Siala, H., 2016. A cross validation of Consumer-Based Brand Equity
models: Driving customer equity in retail brands. Journal of Business Research, 69(9),
pp.3740-3747.
Dad, A.M., Rehman, A.A. and Davies, B.J., 2018. The Effect of Music on Shoppers' Shopping
Behaviour in Virtual Reality Retail Stores: Mediation Analysis. International journal of
advanced computer science and applications, 9(1), pp.135-145.
Griva, A., Bardaki, C. and Papakiriakopoulos, D., 2018. Retail business analytics: Customer visit
segmentation using market basket data. Expert Systems with Applications, 100, pp.1-16.
Hair Jr, J.F., Wolfinbarger, M. and Page, M.J., 2015. Essentials of business research methods.
Routledge.
Hu, Y.J., Liu, F.M. and Huang, J.H., 2016. EXAMINING THE MEASUREMENT
INVARIANCE ACROSS GENDER FOR THE PART OF RESPONSIVENESS IN
SERVQUAL SCALE IN RETAIL BUSINESS OF TAIWAN. International Journal of
Organizational Innovation (Online), 9(1), p.284.
Ivanov, G. and Mayorova, E., 2015. Intangible assets and competitive advantage in retail: case
study from Russia. Asian Social Science, 11(12), p.38.
Johansson, T. and Kask, J., 2017. Configurations of business strategy and marketing channels for
e-commerce and traditional retail formats: A Qualitative Comparison Analysis (QCA)
in sporting goods retailing. Journal of Retailing and Consumer Services, 34, pp.326-
333.
Marinakos, G. and Daskalaki, S., 2016. Viability prediction for retail business units using data
mining techniques: a practical application in the Greek pharmaceutical sector.
International Journal of Computational Economics and Econometrics, 6(1), pp.1-12.
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Schaltegger, S., Lüdeke-Freund, F. and Hansen, E.G., 2016. Business models for sustainability:
A co-evolutionary analysis of sustainable entrepreneurship, innovation, and
transformation. Organization & Environment, 29(3), pp.264-289.
Venkatesh, J., 2016. RFID Technology: Application of discriminant analysis and classification
statistics in The Analysis of The Impact of RFID on The Retail Business. International
Journal of Research in Finance and Marketing, 6(10), pp.98-110.
Venkatesh, V.G., Rathi, S. and Patwa, S., 2015. Analysis on supply chain risks in Indian apparel
retail chains and proposal of risk prioritization model using Interpretive structural
modeling. Journal of Retailing and Consumer Services, 26, pp.153-167.
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