Marketing Audit Tesco - PDF
Added on 2020-12-28
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MARKETING MANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................3MAIN BODY...................................................................................................................................3Background information. ...........................................................................................................3Marketing audit. .........................................................................................................................4Review of marketing mix..........................................................................................................10New marketing mix actions. ....................................................................................................12CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16
INTRODUCTIONMarketing management is organisational disciple which is focus on the practicalapplication of the marketing orientation, methods and techniques. Marketing management is veryimportant and effective activities which are involve in different goods and services factors. It isthe analysis, planning, implementation and control of program to designed for effective changeswith target market for achieve goals and objectives of company. The present study is based on“Tesco” which is multinational grocery retail sector. It has the 460000 numbers of employeewith 6808 shops at various location. The study lays emphasis on background information ofcompany and industry which is choose for this report. Report will outline by the overall marketattractiveness and potential growth of market with the help of marketing audit. It will review bythe marketing mix of Tesco with explanation of some product and services mix. It will covers bythe different brands of Tesco for different market target. It will also critique by new marketingactions for achieve gaps in present marketing strategy and external environment. MAIN BODYBackground information. Retail refers to the process of offering products or services to the buyers. An organizationuses various types of channels for distribution of goods so that, firm can earn profit. Retailindustry refers to the industry of Retail companies in which all the firms are involved in sellingand distributing goods or services to ultimate customers. Retail industry includes shops,groceries, departmental stores and supermarket chains etc.Tesco Plc belongs to retail industry. The company was founded by Jack Cohen in year1919. The headquarter of Tesco is located in England, United Kingdom. The founder of Tescohas opened the first store of the company in London in year 1929(Chernev, 2018). The firm is atthird position in the world in terms of revenue. The key peoples working in Tesco are DaveLewis, John Allan etc. Tesco offers its products through Supermarkets, Convenience shops,Hypermarkets etc. in various countries such as United Kingdom, Hungary, Poland etc. Tescogroup is controlling various subsidiaries such as Tesco Bank, Tesco Mobile, Tesco Stores Ltdetc. The business of the organization is diversified in various areas such as clothing, software,books, furniture, financial services, and services related with internet under its differentsubsidiaries.
Tesco has acquired Brooker in year 2018, the company is a wholesaler of food items.Brooker owns various brands such as Euro Shopper, Budgens etc. Tesco Bank which is one ofthe subsidiary of Tesco Plc offers financial services in UK. It offers products such as insurance,credit cards, saving accounts etc. Tesco also provides services of Telecom business such asbroadband and telephone business etc. in Ireland, United Kingdom etc. The company is alsohaving its operations at international level. It is offering products and services in more than 11countries other than UK such as Ireland etc. The company is operating more than 6800 shopsacross the whole world(Grewal, 2018). The firm also offers services through a website known asTesco.com. The firm is very much committed towards CSR activities. The firm has develop differenttypes of social programs for approximately 4,50,000 peoples that are living in the community.Tesco is the first retail organization of UK that has join the initiative for promoting sustainabledevelopment of agriculture in year 2016. The firm has contributed to reduce the emission ofcarbon di oxide from the stores by 39.5% in year 2015/16. Tesco is among few retail companieswhich publishes the data related with food wastage from various operations of the company inUK.Marketing audit. Marketing audit-The term marketing audit refers to the process of conducting systematic analysis,interpreting and evaluating the internal as well as external environment in which the business isoperating. So that, company can identify the opportunities and weakness(Camilleri, 2018). Onthe basis of marketing audit, the firm will develop the plan for improving the performance of themarketing activities of the company. There are various components of marketing audit. Such asconducting audit of macro environment to determine the factors that are affecting the marketingperformance etc. Tesco will use various types of tools for conducting marketing audit these areas follows-SWOT analysis-SWOT analysis is a tool that helps an organization to identify the strengths andweaknesses of internal environment as well as opportunities and threats that are existing inexternal environment which is outside the firm. SWOT analysis will play a major role inmarketing audit of Tesco.
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