Marketing Essentials

This document provides an overview of marketing essentials, including the concept of marketing mix and its application in organizations. It also includes a comparison of Tesco and Sainsbury's in terms of marketing mix, and a detailed marketing plan for Tesco. Suitable for students studying marketing.

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1: Covered in PPT......................................................................................................................1
P2: Covered in PPT......................................................................................................................1
TASK 2............................................................................................................................................1
P3: Comparison of organization in the application of marketing mix.........................................1
TASK 3............................................................................................................................................3
P4: Marketing plan.......................................................................................................................3
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing refers to the different types of actions and decisions which are required to be
undertaken by an organization so that it is able to make sure that it can achieve its different type
of goals and objectives without problems and issues (Abedi and Abedini, 2017). It is important
in the context of a company because it is required to ensure that its products and services are able
to reach the customers and thus this will lead towards it achieving a strategic edge over its
competitors who are operating within the market. This project is based on Tesco. It is a company
which deals in groceries and other consumer related products and services. In this report, detailed
focus will be made on comparison of ways in which the organizations make use of marketing
mix. Additionally, development and evaluation of a marketing plan will be discussed as a part of
this assignment.
TASK 1
P1: Covered in PPT
P2: Covered in PPT
TASK 2
P3: Comparison of organization in the application of marketing mix
Marketing Mix- Marketing Mix is a combination of various ideas, strategies and plan
which is to be performed by marketing executives to promote their brand so that large number of
customers are attracted towards the product. Various features and activity are used in single
product or services and also these are inter related to each other for that marketing is to be done
for all at same point of time. The marketing mix is a wider concept which is performed by
company to increase their profit margin.
Comparison between Tesco and Sainsbury's in relation to marketing mix
Basis Tesco Sainsbury's
Product This is larger size
organisation that is selling the
different types of products and
services in larger market such
The company provides various
product in the market such as Fruit and
vegetables like frozen and organic
vegetable, prepared salad, fresh
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as food, cosmetics, stationary,
electronics as well as financial
services which attracts number
of customers and increases
sales.
ingredients and herbs, fish and meat
includes sea food and fish, chilled,
daily items involves deserts, cheese,
milk, eggs etc. and bakery includes
cakes, muffins, bread, buns etc. that fill
the customer requirements.
Price Cost leadership pricing policy
is adopted by Tesco due to this
price of product is low. Tesco
works with their suppliers on
regular basis which helps to
maintain stock and offer high
quality product to customer
at affordable prices.
Price of product is quiet high as
compared to Tesco. different pricing is
to be charged for different products.
Competitive pricing policy is to be
adopted by Sainsbury. Products are
purchase from local market which
helps company to fix prices.
Place Online and offline are two
channel of distribution. Tesco
metro, compact, extra,
express, superstore, home
plus are some examples of
Tesco offline stores. This has
6809 online stores.
Supermarket is the place where
product is easily available as Sainsbury
occupies large area because wide
variety of food as well as non food
items are available under one one roof.
Home delivery facility is also provided
by chosen company. It has 265 stores
approx in U.K.
Promotion Variety of tools designed to
promote sales by Tesco. Low
prices is the core area where
company focus for
advertisement purpose.
Push and Pull strategy of promotion is
adopted by Sainsbury to achieve their
goal. With the help of advertisement
through media, newspaper , magazines
, posters, it can increase their sales
which effects their profit also.
Physical evidence Tesco stores are small in size
so it became easy to manage
Sainsbury acquires large area so big
stores are maintain because large
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because number of product are
not so large as compared to
Sainsbury and their website is
also easy to operate .
variety of product is offer at the same
place.
Process In Tesco, the goods and
services are provided to the
customers through online and
offline processes and
channels. In comparison with
Sainsbury's it has better
processes.
In Sainsbury's, the customers are
provided products through online and
offline processes and channels. It has
to improve its processes in
comparison to Tesco.
People Skilled employees is needed to
perform various functions in
stores of Tesco. Proper
Management is required to
control huge number of
employees so professionals is
to be appointed in the
company. Proper customer
service is provided on time
and proper feedback is also be
taken regarding services
provided by company.
Complaint is to redressed on
time.
Large number of employees are
working in the Sainsbury store as it
involves large supermarket stores as
compared to Tesco so it became
difficult to make coordination among
employees because different persons
have different perception. Immediate
action is not to be taken to redress
complaint of customers and employees
in this company.
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TASK 3
P4: Marketing plan
A marketing plan is a report which can be used in order to frame the marketing strategy
for the future time period for an organization (What is a Marketing Plan and How to Make One?,
2020). The detailed analysis of marketing plan of Tesco is as follows-
Basis Details
Vision The vision of Tesco is to make sure that it becomes the most
valued business for its various stakeholders by providing the
required value to them through its quality products and
services (Al Badi, 2019).
Mission The mission of Tesco is to provide the customers with the
products and services which matters to them and are
important for them (Dioko, 2016).
Marketing objectives  To raise the overall market share in the market.
 To expand the customer base in the market.
 To bring innovation in the products and services in
the market.
 To ensure that the profitability level is enhanced in an
effective manner.
SWOT analysis Strengths-
 Customer Base- For any organization it is important
to have a good customer base which will help it a lot
in maintaining as well as raising its profitability level.
Tesco has a large number of customers in the market
which acts like its strength.
 Quality Products- For a company it is quite crucial
to ensure that it is able to provide and maintain
quality products to its customers. Tesco provides a
large number of quality products to the customers and
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thus this acts like its strength.
Weaknesses-
 Financial irregularities- Financial irregularities can
create various types of difficulties for the businesses
as they can result in a decrease in the profitability
level. Tesco is facing these irregularities which are
creating an impact on its level of profits.
 Use of technology- It is important for the
organizations to make the right use of technology in
an effective manner. Tesco is not implementing the
advanced technology in its processes which is
resulting as its weakness.
Opportunities-
 Expansion- Expansion is the best choice which is
present for an organization to maximize the level of
profits which it is earning. Tesco can expand to
various countries where it is not present which acts
like an opportunity for it.
 Innovation- Innovation is an opportunity which is
available for the organizations so that they are able to
sustain in the market against their various
competitors. Tesco can make the right use of
opportunities to be able to innovate in the market
through right products and services.
Threats-
 Rising competition- Rising competition can act like a
threat for the organizations because it can lower the
profits. Retail sector is witnessing an increase in the
overall competition level which is creating a threat for
Tesco.
 Increase in tax rates- An increase in the overall tax
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rates can result in decrease in the profits for the
organizations and thus acts like a threat for them.
Tesco's profits can reduce because of an increase in
the tax rates and this can act like a threat for the
company.
Marketing strategy Product- Tesco provides various types of products to the
customers depending upon their needs and requirements
(Hisrich and Ramadani, 2017). It provides products ranging
from groceries and other daily needs of the customers.
Price- Tesco makes the use of mathematical and statistical
models to forecast the price changes and thus in this way
ensures that the profits can be enhanced (Kayabasi and
Mtetwa, 2016). It uses competitive pricing strategy in which
it analyses the prices which are charged by the competitors to
determine the price to charge for products and services.
Place- Tesco operates at different locations all around the
world (Mghebrishvili, 2018). It determines the suitability of
the location before deciding to open a store.
Promotion- Tesco makes use of both traditional as well as
modern promotional strategies so that it is able to attract the
various customers towards it (Nikiforova, 2018).
Measurement of performance Tesco will make the use of Benchmarking technique so that it
sets benchmarks through which performance can be judged
and measured effectively (Zahay and et.al., 2019). Also it
will make the use of KPIs so that the performance can be
evaluated and rectifications can be made whenever desired.
Financial and Non-financial KPIs can be used for the
appropriate measurement of marketing performance of the
organization in the long-run period of time.
Controlling Techniques Tesco will make the right use of appropriate controlling
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techniques so that it is able to identify the potential deviations
and variances in its actual marketing performance and the
goals and objectives which it has set for the future time
period. Suitable rectifications can be made if deemed to be
necessary by the organization. This will allow the company
to be successful in its marketing plans in the future time
period. Tesco will aim to acquire a strategic edge over the
competition through the use of these techniques.
CONCLUSION
From the above report, it can be concluded that marketing is an important function for the
organization on which a detailed focus and analysis is required. It is essential for the firms to be
able to secure a much-desired strategic edge over the competitors in the market. This can help
them to be able to attain more profits in the future time period. There are different types of ways
in which the different companies can implement their marketing strategies so that they are able
to achieve the goals and objectives in an effective manner. Also, a marketing plan can be
developed by the organizations for the purpose of achievement of varied marketing goals and
objectives in the future time period.
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REFERENCES
Books and Journals:
Abedi, G. and Abedini, E., 2017. Prioritizing of marketing mix elements effects on patients’
tendency to the hospital using analytic hierarchy process. International Journal of
Healthcare Management. 10(1). pp.34-41.
Al Badi, K., 2019. Implementation of marketing concept and organizational culture in SMEs in
Al Buraimi–Oman. Benchmarking: An International Journal.
Dioko, L. D. A., 2016. Progress and trends in destination branding and marketing–a brief and
broad review. International Journal of Culture, Tourism and Hospitality Research.
Hisrich, R. D. and Ramadani, V., 2017. Entrepreneurial marketing mix. In Effective
Entrepreneurial Management (pp. 75-99). Springer, Cham.
Kayabasi, A. and Mtetwa, T., 2016. Impact of marketing effectiveness and capabilities, and
export market orientation on export performance. European Business Review.
Mghebrishvili, B., 2018. Some aspects of social marketing development in georgia.
Nikiforova, S., 2018. The study of the correspondence of marketing instruments to the stages of
the start-up life cycle. In MATEC Web of Conferences (Vol. 239, p. 07004). EDP
Sciences.
Zahay, D. and et.al., 2019. Effective resource deployment in digital marketing education.
Marketing Education Review. 29(3). pp.182-192.
Online
What is a Marketing Plan and How to Make One?. 2020. [Online]. Available through:
<https://venngage.com/blog/marketing-plan/>
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