Marketing Strategy for Businesses

This assignment delves into the realm of marketing strategy, guiding you through key concepts and practical applications. It covers essential topics such as segmentation, targeting, positioning (STP), SWOT analysis, and a comparison of marketing mixes across two organizations. You'll learn how to formulate suitable marketing plans incorporating these strategies for optimal business success.

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Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P.1 Role and responsibilities of marketing in Tesco ..................................................................1
P.2 Role and responsibilities of marketing related to Tesco in wider context ..........................3
TASK 2 ...........................................................................................................................................5
P.3 Comparison of marketing mix of companies to achieve objectives.....................................5
TASK 4 ...........................................................................................................................................7
P.4 Preparation and evaluation of marketing plan in Tesco .......................................................7
CONCLUSION..............................................................................................................................11
REFERENCES .............................................................................................................................12

INTRODUCTION
Marketing is a process in which goods and services are sold to customers. It is important
so that needs and wants of consumers are satisfied and firm can achieve the objectives and
goals. Through this company can earn more profits and can increase the market share. Firm can
also maintain strong competitive advantage on other companies. This also helps the organization
to increase the market share (Amoo, 2017). Report discusses about the Tesco company which is
a retail firm which offers different household and grossery products such as dairy goods, meat,
alcohol, medicine, clothes etc. It is founded in 1919. Assignment explains about the role and
responsibilities of marketing function, duties and functions of marketing related to wider
organization. Project discusses about comparison of marketing mix to accomplish the goals,
create and evaluate business plan for company.
TASK 1
P.1 Role and responsibilities of marketing in Tesco
Marketing plays an important role in every company as it creates different strategies and
policies related to marketing. It helps the firm in promoting the products. Role and
responsibilities of marketing in Tesco company are-
Exchange of goods – Marketing department plays an important part in producing
information about the demand of goods to production department. Hence the section can produce
goods according to requirements of customers. They also provide relevant and correct
information to the production manager regrading the materials which are used in creation of
product and other marketing needs. Hence section can create products according to choice if
users. Through this it can capture more consumers and can earn more profits. Thus firm can
increase the market share.
Identification of needs of customers – Marketing helps in identification of customer
needs and wants and then create products according to their choices. Thus they communicate the
information to production department so that manager can create products according to
requirements of all users. Thus they can deliver good quality of products to customers. Therefore
it increases the satisfaction level and happiness level of consumers. Hence firm can increase the
profits and market share (Baker and Magnini, 2016). Thus it helps the company in expansion
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and diversification of business in less time. Tesco can also give strong competition to other
companies.
Understand factors in industry – Marketing helps in evaluating different internal,
external factors and other recent trends which helps company in evaluating demand of goods.
They can evaluate that which product is in demand in market and latest technology through
which form can create product (Baker,Saren and 2016). After monitoring all these factors, firm
can create products according to demand of consumers and can also adopt latest technologies so
that they can produce good quality of products. They can also create plans and policies related to
manufacturing and distribution of goods. Through this they can increase the happiness level of
consumers and satisfaction level.
Competitive environment – Company can give strong competition to other companies.
They can evaluate demand of goods in market and can create products according to requirements
of all consumers. Firm can also adopt latest technology so that they can produce good quality of
products. This also helps in efficient and effective functioning of all activities and tasks. Thus
firm can deliver good quality of products to consumers. Thus firm can earn more profits and can
increase the market share. This helps in giving strong competition to other firms.
Help in distribution system – Marketing helps in distribution function by reaching
products to all customers. They can create all plans and policies related to distributing products
to all regions,states and countries. Firm can hire different salesman which can transport goods to
many consumers. They use efficient transportation system which move products from one place
to another very easily. Thus goods can reach to all customers in less time.
Evaluating target market – Company have to monitor the needs of target market so that
they can produce according to demands and acquirements of all target consumers. They can
segment the population on basis of geographical areas, income,behaviour etc. Thus company can
produce different plans and policies according to demand of target users. Thus they can fulfil all
needs and preferences of all customers. Hence they can easily achieve the objectives and can
increase satisfaction, happiness level of consumers. It results increasing sales of company and
they can earn more revenues(Blythe, 2012). Thus also helps the firm in maintaining positive and
distinct position in minds of all the customers and in market. It also helps the company in
expansion and widening of business in many countries.
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Market research - There are various changes in needs and preferences of all customers
in the market. So company has perform the market research so that they can produce products
according to customers requirements (Brassington and Pettitt, 2013). They can also adopt latest
technologies which are available in market so that they can produce good quality of products.
This helps hem in earning more revenues.
Growth of business – Marketing helps in development of company as it creates products
according to choice and preferences of all customers. Hence Tesco can produce good quality of
products according to customer's needs and can deliver them. It increases the satisfaction level of
consumers. They can give references to all their friends and relatives . Thus firm can earn more
revenues and can increase the market share. This helps them in widening of business. Thus
company can maintain unique and distinct position in market as well as in front of all customers.
This leads to long term growth of firm.
P.2 Role and responsibilities of marketing related to Tesco in wider context
All the departments of firm have their own importance. Marketing helps other sections of
company such as finance,production,procurement,research etc. It is done so that all departments
can function effective and efficiently. This leads to earning of more revenues in firm. Below are
role and responsibilities of marketing with other departments of Tesco are -
Marketing and finance – Marketing section helps in producing different information
related to investment of cash,costs and profits top finance department. Thus finance section can
create different strategies related to investment of cash in different areas and can also have
knowledge of the expanses and profits. Thus finance manager can invest their money in those
areas where there are large profits (Smith, 2014) . It also reduces the necessary expenditure of
department as they have full knowledge the costs and profits. They can also create the cash flow
statement and can know the capital which is invested in the company. Finance manager can
invest in profitable segments and can earn more revenues. Hence they can easily attract more
consumers.
Marketing and production – Management provides different relevant data about
production to production department. They provide information related to choices and
preferences of all customers. Thus Tesco company can produce goods according to needs and
requirement of all users. They can create many strategies and policies related to production of
different innovative goods (Brooks and Simkin, 2012). Thus department can produce good
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quality of products by receiving the data from marketing department. It also leads to good
functioning of all tasks in company. Thus it leads to smooth running of production department.
Thus it results in increasing happiness and satisfaction of all consumers. Hence firm can earn
more revenues. This also results in increasing of market share and growth in long run.
Marketing and procurement - Marketing provides different information related to
raw materials and other equipments to procurement department. They also give knowledge of
supplier which can provide raw equilaterals at less cost and provides good quality of
materials(Dibb and Simkin, 2013). Hence procurement section can produce products using good
quality of raw materials and other techniques. They can also receive materials from supplier at
less cost. This leads to production of good quality of products. It also results in delivery of good
in proper time to all consumers. Thus it helps in increasing of satisfaction level and firm can
earn more revenues and market share. Tesco can give strong competition to other firms.
Marketing and research and department– Marketing helps in providing information
related to needs and wants of all customers. They also give innovative ideas related to latest and
advanced tools,techniques and technologies which firm can adopt to create the product. It helps
research department to search for new ideas related to acquirements of all customers and other
market needs. This also assists research section to adopt the advanced technologies which can
produce good quality of products. Thus firm can deliver good quality of goods to all consumers
and fulfil all requirements of users. Hence it increases the happiness level of consumers. Thus
firm can earn more revenues and increase the market share. It also helps the company in
widening of business. This also leads to growth and development of company.
Marketing and personnel – Marketing department can provide relevant data regarding
recruitment,selection,training,job description and monitoring performance of employees.
Marketing also provides data regrading the superior managers and other managers and time and
other details of job. So hence human resource department can create job description and can
attract many candidates for the job. With the help of this data company can select qualified
candidates as they have full record of all staff members. Firm can give training according to
employees needs and can also evaluate performance of all staff members (Hanlon, 2014). They
can organize seminars in which firm can give different rewards to all employees and can
motivate them. This helps employees to improve their performance and thus they can give good
outcomes.
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TASK 2
P.3 Comparison of marketing mix of companies to achieve objectives
Marketing mix incudes the tasks through which firm can easily promote the products. It
consists of product,price,place,promotion,people,price and physical evidence(KAUR, 2015).
Comparison of marketing mix of Tesco and Aldi are-
Basis Tesco Aldi
Product Tesco provides products such as
foods,financial
products,electronic,cloth
through various stores. Mainly it
provides attractive offers such
as music system to capture more
consumers. It offers wide range
of products to users. Thus firm
can earn more revenues and can
increase the market share
Firm p[provides goods such as
stationary, beauty ,fruits and
vegetables etc. Firm also
provides non food items to all
consumers and fruits products
according to different season.
Thus they can increase
satisfaction level of all
consumers. Thus more users
can purchase the products. This
helps firm in earning more
revenues.
Price Firm sells products al low cost
and give discounts offers to
many consumers. It do not uses
competitive,psychological and
loss leadership plans to capture
customers. Company uses
economies of scale in which
there is large production and it
reduces the cost. Through these
policies many customers are
It mainly uses competitive
pricing strategy in which it
charges lower prices than other
rivals to attract many users.
Company also uses loss
leadership in which it charges
low prices and it can more
revenues . It do not provide
discount and other offers to
many users to capture
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attracted towards the products. customers.
Place Company mainly sells products
through many stores such as
Tesco compact,metro and Tesco
express. It also promoters
products through different
applications and websites in
internet. Organization do not
give emphasis on layout firm. It
can attract many users from
many nations. Through these
strategies firm can earn more
revenues and market share.
Firm sells products through
various stores and it keep good
Layout and appearance of
stores. This is done to capture
many consumers. It also uses
tools which provides less
damage to environment and
through this it can attract many
customers. They do not
wastage of items in selling
products.
Promotion Firm uses many strategics such
as advertisement and
sponsorship to promote
product. It basically uses
clubcard services in which it
charges lower prices from all
customers. Company also give
discounts in many products so
that all customers get attracted
towards it.
Mainly aldi promotes different
products through newspapers
and emails. It give different
offers such as special buys to
capture more consumers. They
do not provide discounts to
consumers. It also give special
buys offer in newspapers so
that many customer can
purchase the product.
Process Company selects educated and
competent employees so that
they can solve all issues of
customers properly. Thus they
solves all problems of users and
hence it increase the satisfaction
of all users. It helps form to
Minimum employees are there
in every store. Bar codes are
there in each product so that all
users can easily locate the
product in each store and there
is no doubt among all buyers.
Thus customers can easily
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attract many users. Through this
company can earn more
revenues.
purchase the products in stores.
People Firm appoints educated
employees. Company provides
different offers and extra
incentives to workers so that
they can perform well. Trough
this they can attract users
properly. Hence more
consumers can purchase the
product. Thus organization can
increase their sales and can earn
more revenues
Company give training to staff
members so that they can
perform well. All employees
can sit on chairs and can do
calculation work through
computers. This results in quick
delivery of services to many
users. It increases the
satisfaction level of all
consumers.
Physical evidence Company keep different
products in a particular category
so that all customers can easily
identify products. It prevents
doubts in minds of all
customers. They keep stores in
clean way so that customers can
attracted towards it. Thus it can
earn more profits and can easily
expand and diversify the
business.
It uses standardised tools for
promotion of various products.
It uses all products of their own
nation and charge low pricers
of all products. Through this it
can earn more revenues and
they can increase the market
share.
TASK 4
P.4 Preparation and evaluation of marketing plan in Tesco
Marketing plan includes all the plans and curlicues through which firm promotes the
products. Firm identify needs and requirements of all users and then creates plan (Lanier and
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Lanier, 2017). Plan consists of objectives,STP strategy,SWOT analysis, porter's five force
model,competitors,strategies and budget.
Business objective
Aim of Tesco company are -
Main objective of Tesco company is to increase the sales by 20% and to increase the profits by
30%.
STP( Segmentation,targeting,positioning strategy)
Company has decided to launch a soap. So company decides to use STP strategy for
reaching the customers. Segmentation is the process of dividing the whole population according
to homogeneous needs and other criteria (Larson and Draper, 2015). Tesco can segment
population on basis of density that is rural and urban areas. It also segments population on basis
of age categories such as young and middle aged groups. It also segments population according
on demographic basis such as on basis of income (high,middle and low group
people),occupation (students and employees
),behaviour basis in which there is a basis which includes occasions(regular,non user and loyal
customers). After segmentation there is targetting process in which it targets to particular section
of group .
Tesco mainly targets to middle income group and in this it targets to youth people. After
targeting Tesco performs the positioning strategy in which it creates different strategies and
maintains distance image in front of all people. It can use price positioning strategy in which it
charges lower prices fall soap products as compared to other factors . This helps in attracting
more consumers. It can also use competitive positioning in which it can use different features of
product which are different from rival companies. It evaluates strengths and weakness of
competitor and then creates unique strategies so that it can give positive image in front of all the
youths.
SWOT analysis
Strength Weakness Opportunity Threat
 It has high
quality of
product
through which
 Company is
facing high
competition
through which
 Company have
opportunity to
increase the
sales through
 There are
different threats
from
competitors as
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it can easily
increase the
sales. Hence
firm can earn
more profits.
 It has cost
efficiency in
products
efficiencies in
which all
activities are
performed in
better manner.
Through this
company can
earn more
revenues.
there are price
wars. Thus
there is
reduction in
revenues in
company.
 It has not
performed
sufficient
market
research. Due
to this there is
reduction of
sales and
profits of
company.
promoting
products
through online
mode. Thus it
offers wide
variety of
products in
online
applications. It
leads to
increasing of
sales and
market share.
 They can also
do strategic
alliance with
many other
companies as
then it can
provide wide
range of
products. Then
it can easily
increase sales
and enhance
profits.
they charges
lower price and
use advanced
technologies
than firm.
Hence it results
in declining
sales and
profits of firm.
 Suppliers are
charging high
prices if raw
materials so
hence company
cannot
purchase
sufficient raw
materials. This
leads to less
production and
lower sales. It
leads to
reduction of
lower profits.
Porter's 5 forces model-
It includes all 5 forces which helps in determining the competition in the industry. This
has 5 forces-
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(Source:Tesco Porter’s Five Forces Analysis,2017)
Threat of substitute products are irrelevant – It offers wide variety of products such as
electronic,entertainment,clothing etc(Nguyen and Simkin, 2012). In market there are wide
variety of goods including all these products. Hence threat of substitute is not relevant.
Rivals of existing firms are high – There are many competitors of retail sector which
charges low price and high advertisement expenditure and differentiated products. Hence
competitors of retails sector are high for Tesco.
Bargaining power of suppliers is low – Many suppliers fell that they are satisfied through
relationship with company. There are less switching cost of suppliers in firm.
Bargaining power of customers – It is high as there are many competitors and substitutes
are available in market. So customers can switch from thus firm to another.
Threat of new entry – Entry of new competitors are high. Hence they do not take tension
of new competitors (Odia and Oamen, 2013). Thus they do not have to put extra pressure on
promotional activities.
Strategies – Mainly Tesco uses advertisement and print media to promote products. It
also uses the promotional techniques such as clubcard,free gifts and point if sale materials to
increases the sales and profits.
Competitors – Tesco main competitors are Sainsbury,Morrison,Aldi,Lidl,Waitrose etc.
Budget – It has budget of 100000 crore. Tesco spend 20000 on manufacturing,20000 on
production,20000 on operational tasks,10000 on distribution and 30000 on promotional purpose.
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Illustration 1: Tesco Porter’s Five Forces Analysis

CONCLUSION
It can be concluded from above report that marketing is very important in company.
There are various roles and responsibility of marketing such as exchange of goods,help in
distribution of products. Marketing has different duties and functions which helps other
departments such as research,finance,personnel etc (Rossi, Allenby and McCulloch,2012). There
is comparison of marketing mix if 2 organizations. There is creation of suitable marketing plans
which consists of STP strategy,SWOT analysis etc.
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REFERENCES
Books and Journals
Amoo, D., 2017. MARKETING STRATEGY: The Science of Perfect Decision Making taught
by market wizards due to market research for better market plan.
Baker, M. A. and Magnini, V. P., 2016. The evolution of services marketing, hospitality
marketing and building the constituency model for hospitality marketing. International
Journal of Contemporary Hospitality Management. 28(8). pp.1510-1534.
Baker, M. J. and Saren, M. eds., 2016. Marketing theory: a student text. Sage.
Blythe, J., 2012. CIM Coursebook Marketing Essentials. Routledge.
Brassington, F. and Pettitt, S., 2013. Essential of marketing.
Brooks, N. and Simkin, L., 2012. Judging marketing mix effectiveness. Marketing Intelligence &
Planning. 30(5). pp.494-514.
Dibb, S. and Simkin, L., 2013. Marketing essentials. Cengage Learning.
Hanlon, A., 2014. Quick Win Social Media Marketing: Answers to Your Top 100 Social Media
Marketing Questions. Oak Tree Press (Ireland).
KAUR, M. N., 2015. MARKETING ESSENTIALS FOR NEW PRODUCT LAUNCH:
STRATEGIES ACROSS VARIOUS PHASES OF PRODUCT LAUNCH. Asia Pacific
Journal Of Marketing and Management Review. 3(3).
Lanier, P. and Lanier, M., 2017. Marketing Essentials for Independent Lodgings.
Larson, J. and Draper, S., 2015. Internet Marketing Essentials: A Comprehensive Digital
Marketing Textbook.
Nguyen, B. and Simkin, L., 2012. Fairness quality: The role of fairness in a social and ethically
oriented marketing landscape. The Marketing Review. 12(4). pp.333-344.
Odia, P. A. and David Oamen, O., 2013. Television Advertising Impact on Female Production
Marketing in Select Nigerian Schools: A Case Study of Always Ultra.
Rossi, P. E., Allenby, G. M. and McCulloch, R., 2012. Bayesian statistics and marketing. John
Wiley & Sons.
Smith, A., 2014. Breaking the chain: The screen industry and disintermediation. Metro
Magazine: Media & Education Magazine. (182). p.104.
Online
Tesco Porter’s Five Forces Analysis. 2017. [Online]. Available. <https://research-
methodology.net/tesco-porters-five-forces-analysis/>
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