Marketing Fundamentals Assignment - Tesco
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Added on 2020-11-23
Marketing Fundamentals Assignment - Tesco
Added on 2020-11-23
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MARKETING FUNDAMENTALS
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Main body .......................................................................................................................................11.2.1 Mission and objectives of Tesco........................................................................................11.2.2 Situation analysis ..............................................................................................................21.2.3 Marketing strategy ...........................................................................................................51.2.4 Marketing mix decisions...................................................................................................61.2.5 Implementation and control ..............................................................................................61.3 Role of the marketing in creating value of customers...........................................................61.4 Stake holders engagements and impact on the activities of marketing.................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONMarketing refers to the exchange of relationship with people and management. Its focuses on thesatisfying customers by fulfilling demands and making innovative products which helps inattracting customers. In this report, cited company is Tesco. This company is a Britishmultinational grocery and general merchandising retailer. There are more than 3400 storesaround nation that are providing services to their customers. This report covers the marketingprocess of Tesco. Furthermore, it covers the mission and objectives of the cited company. Lastlyit covers the marketing strategies of Tesco.MAIN BODY 1.2.1 Mission and objectives of TescoTesco is one of the largest retailers of UK and across world. It is one of the entities which havemore popularity in the world. By its services of entity Tesco has satisfied customers whichhelped to gain popularity of business. Vision and Mission of TescoVision of Tesco is to open its branches in every corner of world. This helps in gaining inthe popularity and creating brand image in market. This company wants to grow its business thathas full opportunities. With the help of innovation in modern ideas that helps an entity to attractcustomers in more numbers. Company wants that all employees use modern ideas to make theproducts more attractive. Entity will be doing business while taking opinion of customers,employees and society. Main purpose of Tesco is to " We make what matters better together". It also helpsbusiness to target people who can buy products in all range. Low prices products are sold tomany customers which can make company to satisfy them. Cited company is planning to becomecarbon free business till 2050. According to the market situation of this entity, several strategiesare made to achieve goals for success, its mission of entity is to create standards so that otherscan be inspired from seeing it (Guido Pichierri Nataraajan and Pino, 2016.). The focus of an entity toearn trust and loyalty of customers, colleagues and communities. Objectives Tesco aim is in improving services which provide vast range of products like grocery andelectrical goods. This company focuses on making brand image which is valued by the1
customers. This entity concentrated on developing teams which could server better to customers.This will help in making long run customer relationship with entity by taking regular feedbackwith customers in fulfilling their demands. 1.2.2 Situation analysis This includes PESTLE, SWOT and Porter’s five forces which helps in obtainingloopholes for Tesco. By improving them, this company wants to move ahead from thecontenders. These three analysis help in raising the entity to a new level. PESTLE AnalysisPESTLE Analysis include external factors which impact on an entity. It is one of theways by which entity could gain competitive advantages. These factors help the company in performing business for diverse environment. Political Factor - this factor includes changes made by the government in laws which affectsbusiness. It includes tax rates, political stability, legislation, unemployment rate and economicconditions of business. Political stability of UK is strong enough which does not impact ondecision making of Tesco. If tax rate of entity increases, in that case, it affects the businessdirectly. Product cost increases which make adverse situation for the entity. It impacts on sales ofentity. If import duty of cited organisation increases, it will affect Tesco because it is importingits goods to other countries like East Asia and China. Economical Factor -this factor includes changes in market condition which are affectingbusiness and some of them are saving rate, interest rate, inflation rate and many more. Labourcost is affecting the UK super market. If hike in inflation of an entity which will impact ondirectly on profits and costs which impact the business adversely (Varnali, 2014). Tesco mustfocus on borrowing costs which will increase costs and reduce the profit. It will impact on thestatus of company. This factor helps in dealing with the diverse environment which will makeentity strong and can survive in any of the market conditions. Social Factors- this factor includes age, gender, attitude, taste and preference of consumer,population growth and many more. In UK, business is done by analysing social factors and afterthat, company will get support from the society. Tesco has already analysed these factors and2
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