This assignment analyzes Tesco's marketing mix strategy, focusing on how the company utilizes product development, pricing strategies, distribution channels, and promotional activities to achieve its business goals. It explores the effectiveness of Tesco's approach and provides evidence-based insights into their marketing plan.
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MARKETING ESSENTIALS
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TABLE OF CONTENTS INTRODUCTION...........................................................................................................................1 TASK 1...........................................................................................................................................1 TASK 2............................................................................................................................................1 PART A..........................................................................................................................................1 1 Comparison of ways by which organisation can apply marketing mix to planning process for achieving organisational objectives.......................................................................................1 2 Different tactics which is applied by organisation to achieve its objectives............................2 PART B............................................................................................................................................2 1 Marketing plan for Tesco........................................................................................................2 2 Coherent evidence based on marketing plan...........................................................................2 3 Designing of strategic marketing plan for which use seven p for achieving objectives entity3 CONCLUSION...............................................................................................................................3 REFERENCES................................................................................................................................4
INTRODUCTION Marketing refers to not only buying and selling of goods but includes promotion, branding of people. Cited entity is chosen is Tesco.This report covers key roles and responsibilities of marketing function related to Tesco. Lastly, it covers responsibilities of marketing in context to wider organisational context. TASK 1 covered under PPT TASK 2 PART A 1 Comparison of ways by which organisation can apply marketing mix to planning process for achieving organisational objectives Marketing mix elements of two organisation named as Tesco and Marks and Spencer which are as follows product, price, place, promotion etc. Marketing MixTescoMarks and Spencer ProductProducts which is offered by Tesco are in wide range with qualitywhichisthemain strength. It offers variety of products in clothing and food only which little bit dissatisfy consumers. PriceCitedentityisoffering productsataffordableprices sothatproductsareeasily purchased by consumer. M&S is offering products in bit higher prices which cannot bepurchasedbyallincome group person (Philip, 2014). PlaceLocationhasbeenchosen appropriately according to its business MarksandSpencerhas chosen that place where lot of competitors are there. 1
PromotionCited entity has chosen online as well as offline promotion which is giving advantage Marks and Spencer has chosen one brand marketing strategy which didn't work. PeopleThere is lot of support from people with cited entity due to good brand image Marks and Spencer has loyal customers but not that much as cited entity have. ProcessThere is lot of process which is involved like delivery system and many more which is made by cited entity Delivery system of Marks and Spencer is not so fast. Physical evidenceCited entity is selling products in such a good way MarksandSpencerisnot providing its services in little bit late. 2 Different tactics which is applied by organisation to achieve its objectives Tesco Various tactics can be one used for achieving organisation objectives are lowering of prices through which entity can achieve goal of earning of profit by cited entity. Promotion- Promotion of products can be made strong which help in building of brand image of entity (Malhotra, 2015). For increasing of sales, this company is offering various offers so that lot of customers to get them attracted. For decreasing cost or expenses of cited entity, it can make goods/products which is of low cost. Pricing- This entity is using competitive pricing strategy which helps in selling of product to all range customers. Marks and Spencer Research– Here, Marks and Spencer did lot of research before launching of product. This is helping entity to grow well to get themselves established. 2
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Promotion- in these selling of product is made via social media, internet and lot more which help in selling of product. Pricing- in this entity is selling products on penetration pricing strategy. PART B 1 Marketing plan for Tesco Marketing plan is made to develop entity and reach to target audience which ultimately get success. Executive summary- This helps in detail of marketing plan under which marketing tools and techniques are discussed. This gives guidance which path employee and employer has followed. Target customer- This refers to aiming of people who are interested in purchasing of product of cited entity. By targeting of product which helps in reaching objectives of entity. Pricing and positioning strategy- Pricing and positioning is very important which is helping entity to make good brand image in front of society. This entity is following competitive pricing strategy and for positioning there are catchy advertisements is made. Distribution and advertisements- in marketing there must be strong distribution chain is necessary for entity. This helps in reaching customers in easy way. Monitoring- in this firstly Tesco is reviewing market which help in making of product according to demands of customer. This is helping entity in fulfilling demands of clients. It is helping entity in building good image in front of society. Controlling- Tesco has grabbed the market share which built an image in front of the entire community. This entity is controlling its products and market which help in making goods brand value of entity. ActivitiesBudget in £ Social Media Advertising3000 Campaigns2000 Online Marketing4000 Television Commercial7000 3
Total16000 2 Coherent evidence based on marketing plan Target customer- Tesco is targeting customers of all rage mostly youngsters, family and children. This is one of the ways by which Tesco is selling its products in successful way. This entity is selling its products to all income level customers. Pricing and positioning strategy- This entity is offering products at low range which help in selling of product. In grocery sector competitive pricing strategy is followed. Distribution and advertisement-For selling of product entity has lot more channels which help in reaching to customers. This is helping entity in making profits. Monitoring– Here, before making of product lot of research is made which help in selling of product. Like in food products lot of research is made before making of product which suits the taste of local people. 4 3000 2000 4000 7000 social media advertising Campaigns online marketing television commercial
3 Designing of strategic marketing plan for which use seven p for achieving objectives entity In this certain evidence which are required based in marketing plan are described as follows: Product-The cited entity’s products are sold in wide variety such as mobile, clothing, food etc. to consumers which help in increasing sales and brand value. Tesco is offering product to all range customers which help entity to increase its customers. Price- The cited entity is offering products in affordable prices which help in purchasing of product to all income group (Moore, 2014). Competitive strategy is followed this entity. Process set by entity are low enough which help in selling of product to all income group. Place- This company is doing its business in UK at place which is easily accessible by anyone. It is helping entity to make its recognition between consumer.Location which is set by entity which is in main city and help customers in purchasing products with ease. Promotion- Various promotional tools which is used by entity to popularise productareadvertisements,onlinepresence,socialmediaandmanymore. Promotion with help of Facebook, twitter, internet and many more. Physical evidence- This is providing its evidence to tangible and intangible services which are making its products in such a way that most of consumer buy its products. Tesco is providing its services which is very fast and attract customers. Process- This is one of the ways by which Tesco is making products in such a way which is it help people to make consumer buy product. Tesco is making product with additional features which help entity to attract lot customers. People- There is lot of support from consumers and local people which is helping entity to make recognition in front of consumer as well as society. Tesco has lot of customer base in making brand image of product. 1
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CONCLUSION From this report, it is concluded that marketing mix would be used to achieve objectives of Tesco. It has also discussed about developing a marketing plan in cited organisation. Lastly, it also studied coherent evidence which was based on marketing plan. 2
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