Marketing And Markets In A Digital World - Doc
Added on 2020-10-05
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Marketing AndMarkets In A DigitalWorld: 1
Table of ContentsCOMPANY BACKGROUND:.......................................................................................................3THEORETICAL UNDERPINNING:..............................................................................................4SITUATION:...................................................................................................................................4THE CASE STUDY: .....................................................................................................................5OUTCOME:.....................................................................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12APPENDICES...............................................................................................................................14
COMPANY BACKGROUND:Tesco is British multinational grocery store and general marketing retailer companywhich is situated in London, United Kingdom. It is one of the leading retailer firm in the worldwhich offer variety of goods and services to their customers. Also it has seven shops across thenation and it is one of the famous market leader of the groceries stores which is established indifferent countries such as UK, Thailand, Hungary, Ireland. In addition to this, Tesco is operatedand regulated in all over the world where they gain high amount of income and profitability. It isoperated and regulated business more than 4000 stores in all over the world. In current timeperiod, it has operated 2026 stores in around 13 markets that includes Asia, Europe, NorthAmerica and they are successfully enter in the market place (Achrol, and Kotler, 2012). Besidethis, Tesco market share in the United Kingdom has growing rapidly as a result of customerfocused strategy. Along with this, the competitive environment in the UK retail market place isexperienced drastic changes and modifications in the year of 2004 in new products and services. Along with this, it is one of the largest grocery and commercial store chains in the worldboth in terms of number of stores and both in terms of annual income. The internationalcompany is based in United Kingdom which has large number of stores in Europe and the Asianregion. Tesco has provide different type of products and services to their buyers who are willingto purchase their goods. It is a vital commercial activity and also provide variety of products andservices to their customers. In current time period, the retail market is growing in fast mannerwhere companies are gain huge income and profit by delivering desired goods and services. Inthe year of 2015, there are around $5 trillion sales are reported as selling of different products incurrent market place. Retail industry is growing in current period of time that help organisationin acquiring large number of customers towards new products and services. There are variousretail sellers who are analyse whole market area before introducing a new product for identifyingconsumers needs and demand towards commodity (Baker and Saren, 2016). The major marketing issue occurs is lack of trust among consumer regarding companybrands which create issue and problem in gaining attention of customers. When organisationdoes not provide desired goods and services to their buyers and they are not fulfil all promiseswhich reduce trust (Tesco’s marketing boss on rebuilding trust and why people need brandsmore than ever. 2019). If company are offer bad quality of commodities then this will createmajor issue on their marketing functions and it is directly impact on consumer trust. In addition
to this, trust is important for retaining large number of customers so firm require to deliverpotential products and services in proper manner. Tesco has face lack of trust issue whichdirectly impact on their business operations and its functions effectively. There are large numberof customers who are disappoint with their current goods so they are doing work for rebuildingtrust and faith among them. It is the major issue which directly affect on company growth andsuccess level so they required to develop those goods that are helpful in attracting number ofcustomers (Baker and Saren, 2016). If company does not provide quality based goods so this willchange the behaviour and taste of their customers towards brands which are offered by firm.When brands display dishonestly during the period of bad publicity so this will reduces trustamong consumers towards company brands. Tesco need to make desired goods which can easilyfulfil all demand and requirements in better manner. THEORETICAL UNDERPINNING:There are various theories which are used for determined and evaluated study matter inproper manner. Different types of theories used by an organisation for gaining requiredknowledge and information regarding specific topic. As per the case, Consumer culture theoryis the study of consumption choices and behaviours from a social and cultural perceptions whichis opposed to an economic or psychological (Green, 2015). This theory refers to identifyconsumer behaviour and attitude regarding specific goods and services. It define as the family oftheoretical point of view which address dynamic relationship between customers activities,marketplace and cultural descriptions. The model is useful in analysing users needs and wantswhich is helpful in attracting them towards firm goods and services. It will assist in examiningthe views and reviews regarding specific commodities of the buyers. Also it will helpful inexamining psychology of their customer towards company products in the large market place.Consumer culture is refer as social arrangement where relation between lived culture and socialresources, between meaningful ways of life and symbolic and material resources. It can be usedfor identify consumer behaviour, their taste, attitude and preference that can be helpful in gainingattention of them. Also it is mainly focus on understanding the interrelationship betweendifferent material, economic, symbolise, social relationship and their impact on consumers.Users are considered as a part of interconnected system of commercially developed goods andalso build good image where they can easily develop relationship with their customers. On theother hand, theory of planned behaviour is that theory which is links with someone's values,
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