Marketing Fundamentals - Tesco Assignment

Marketing Fundamentals

Table of Contents
TASK 1............................................................................................................................................4
Processes and stages of marketing including the role of marketing mix ..............................4
Role of marketing in creating value for customers................................................................8
Stakeholder engagement and their impact on the marketing activities of an organisation 8
TASK 2 .........................................................................................................................................10
Reflection essay ...................................................................................................................10
CONCLUSION .............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Marketing fundamental play an important role in a business. Marketing also help to
provide some new opportunity and held to identify beneficial customers. Beside it marking also
help the organisation to increase the sales and profit of the company by attracting more
customers through marketing campaigns. (Shaw, 2016). This present report is based on
organisation naming Tesco which is a supermarket chain and introduced in the year 1919. This
organisation is dealing in retail sector. The following report has two sections, the first one
discusses about stages of marketing including the role of marketing mix and role of marketing in
creating value for customers. At last this section describes stakeholder engagement and their
impact on marketing activities of the organisation. The next part consists of reflection of tactical
communication tools used for generating interest and awareness for marketing.
TASK 1
Processes and stages of marketing including the role of marketing mix
Marketing is defined as activity that is undertaken by an organisation for promoting
buying and selling of service or product. The marketing process is defined as a plan that helps in
laying out all elements that are connected to business and they have great impact on marketing
initiatives of business. The various factors which are included in marketing process are mission,
goals and objectives of the company, analysing strength, weakness, opportunities and strength
that affects marketing brand, determining target audience, required resources and distribution
channels that are used for supporting marketing initiatives. The marketing process helps in
knowing own brand of the company and and also positioning of company in the industry. Tesco
is a British multinational general merchandise retailer and thus it is important for this company
to focus on marketing processes. This will help in increasing the sales and profit of the company.
The main mission or goal of Tesco is to increase it's sale by 20% within 6 months. The first step
of marketing process is to analyse and evaluate opportunities that can be availed. The
opportunities for Tesco are analysing new trends and demands of customers so that level of
customers satisfaction will be high. Tesco is a well known organisation and it is having a lot of
opportunities in market because of that. Tesco has to conduct effective market research that will
help in grabbing information related to it's competitors, Customers, trends and change occurred

in market. The marketing process of Tesco includes the following - Analysis of market and
environment, Identification of marketing target , Setting marketing objectives , Dealing with
elements of marketing mix , Reflection, control and revision (Marketing process of Tesco,
2019).The market analysis of Tesco is done by conducting PESTEL analysis, SWOT analysis,
Porter's Five Forces model and Value chain analysis. The next step is identifying of the
marketing target and Tesco targets a particular segment of population in UK and other countries
in which it is operating supermarkets. The nest step is marketing objective or goal of Tesco. The
marketing goals of Tesco is profit maximisation in short term as well as long term perspective.
Also other goal is to increase the brand image. The marketing goals of Tesco is related to
business strategy that includes growing business in core UK, maximising international presence
by using offline as well as online channels, increasing retail services in current market, focusing
on corporate social responsibility, enhancing brand value, engaging in more diversified products
and creating value through teamwork. The other step of marketing process includes dealing with
elements of marketing mix and this is essential for Tesco to deal with it's marketing mix
elements. This consists of basically four P's i.e. product, price, place and promotion. Tesco's
marketing strategy focuses on advertising it's products in an effective manner. It develops pricing
strategies considering customers. This company undergoes a deep market analysis before
expanding it's business into other countries. The promotional activities and marketing campaigns
of Tesco are made for attracting more potential customers.
Marketing Mix of Tesco
Tesco is one of leading brand of Supermarket. It manges the customer across the
boundaries of UK and twelve other countries. Tesco designed and fulfilled needs of customer,
hence it provides cheap prices and develop time for online stores and maintain a reliable brand
image with reap customer loyalty (Marketing mix of Tesco – Tesco Marketing mix,2019). The
marketing mix of Tesco which is explained below:-
Products in marketing mix of Tesco: The company offers variety of products which
includes food, clothing and electronics, financial services and many more. Online marketing tool
which is adopted by Tesco company which aid customer need effectively.
Price in Marketing Mix of Tesco: Company which maintained low pricing strategy
which reduces quality of products and running in loss. The major advantages is that customer is
happy with and which maintain economic scales. Due to economic changes people thought that

raises in prices which increased in cost but due their pricing strategy which lower cost
effectively. Tesco uses club card system which allowed customer to gather its purchase and
converted money afterwards. The pricing strategy which reduce prices but afterwards increased
sales without much profit.
Place in marketing mix of Tesco: The distribution channel of product and service is
online and offline but stores are spread all over world. The online stores are of six different kinds
that is Tesco Extra, Tesco Compact, Tesco home plus and many more. All customers are not
comfortable with big stores which is not possible to visit. Thus, Tesco directly comprises online
website through which customer can avail the benefits.
Promotions in marketing mix of Tesco: Customer which acquired more loyal customer
and appreciated online services. Low pricing and super market chains which enhanced brand
image. The main objective is reduce costing and maximise profit. Promotional strategies which
used by Tesco is advertisement in television, promotional offers discounts, sponsors charitable
events which increased sales strategies. In grocery stores of Tesco to offer like “buy one get one
free”, “half price” and many more which attracted customer feels them they are saved money.
Physical evidence in marketing mix of Tesco: All stores of Tesco are clean and
attractive, they navigate with all products with well categorized which is easy to find. Offers
which are also placed which lure customer to buy more according to their need. Tesco which
operates simple and easy.
People in marketing Mix of Tesco: The sales assistant of Tesco is responsible and
successful. They uses programmes such as Save as you earn, Buy as you earn through which it
gained loyalty of its workers. The employees in Tesco which is highly competent and well
compensated for contributing success to their company.
Process in marketing mix of Tesco: The process of this company is to make customer
happy by speeding bill services with easy acquirement of products in stores offline as well as
online.

Illus
tration 1: Marketing process, 2019

Role of marketing in creating value for customers
Marketing is a instrument which helps business to achieve more advertisement and
selling of products even also collecting money. Market leaders generate value by creating
connection between people and products, customer also companies. The main role of marketers
is identify, satisfy and retain customer in a effective manner. Role of marketing is to create value
for product and services to customer in effective way. This done through providing information
and continues message after the sale of product. In context to marketing department of TESCO
which need to create anything value it is necessary that to understand or identify needs of
customer wants as well as prospective towards that product or service is going to be launched in
market. Next step is to satisfy customer by delivering right products or services which satisfy
customer want. The key factor of customer satisfaction is that they should feel benefit from
exchange. It necessary that customer should be happy for what they are paying. So retaining
customer is one of important benefit for market leader. By creating new opportunities for
customer loyalty and business which aid to increase profit margin in effective way. So, market
leaders need to understand target market to whom product or service is delivered. Products that
should be delivered at right people at right time. Another is find out new market for expanding
the business in effective manner. The value which is created is need to be maximum customer
lifetime value. Customer and companies need to build up strong relationship which helps to
maintain high customer lifetime value. It is necessary that customer loyalty which play an
effective role for creating value. Marketing department of TESCO which need to evaluate
customer need and demand through which decisions can be taken properly.

Stakeholder engagement and their impact on the marketing activities of an organisation

All stakeholders are very important for organisation and they impact
marketing activities of organisation. There are different departments in
every company which together form a company. Such as marketing,
selling, finance, production, human resource etc. They all form part of
company and affect all its operations. Tesco is a leading brand of
consumer related products. Company is engaged in planning its marketing
activities in a way that it reduces its negative impact and positive impact is
maximized. Most important stakeholders in every organisation are
customers. They affect marketing activities in a way that all their activities
revolve around customers. They are ultimate buyers of products and
services and are responsible for overall profitability of company. Tesco
provides product of consumer durability such as clothing, food, furniture,
home electronics etc. these all products are demanded by customers time
to time. Main aim of all marketing executives in Tesco is to target
maximum customers and attract them. Tesco uses this strategy in a way
that it critically analyses market and then frames its marketing strategy.
Market is continuously changing and there is need for companies to get a
competitive advantage, this can be done if there strategy is completely
different from its existing competitors. Suppliers also affect company's
marketing operations. Tesco always makes sure, there will be continuous
supply of materials and there are no shortages. Company links its
supplier's availability with overall value system of organisation. They
ensure that there are not any type of shortages or any kind of delays
taking place. Problems related with Suppliers can have direct negative
impact on marketing strategies of any company. Tesco always focuses on
having some precautionary measures in advance to deal with such
problems if they occur in future. Also, they keep some alternatives ready

to deal with various issues related to suppliers. Competitors also influence
overall marketing function of company. Such that a successful company
must provide more satisfaction to its customers then its competitors. Tesco
as a leading brand always emphasizes on increasing its marketing efforts.
So that they can attract customers more than their competitors. This will
help its customers to distinguish its products from its competitors. Also in
dynamic environment it is very important to have a competitive advantage
in framing its overall marketing strategies and activities. Government of a
country also affects marketing functions of company. As, all legal rules
and regulations have to be adhered by marketing team while framing their
marketing strategies. These all strategies have to be in accordance with
various laws and governmental rules. Tesco makes sure that company is
able to frame its marketing strategies within limit of these laws and
regulations. As non compliance of such laws may lead to paying of heavy
penalty by company. Also such acts affect overall brand image of company
in a negative manner. Investors are amongst most important stakeholders
of company. As they are ones who provide various finances to marketing
department of company. Tesco's main aim is always to make its marketing
program so attractive and profitable, that investors are ready to make
higher investments in company. Marketing Intermediaries are also
amongst stakeholders of company and they also affect overall marketing
activities of company. Marketing intermediaries include wholesalers,
different types of firms helping in conducting marketing activities,
retailers etc. They all help in increasing productivity and effectiveness of
all other departments in company. Tesco has a established goodwill in
market by maintaining proper and effective communication and
coordination between these existing channels. Stakeholders are very

important part of every company and they all have affect marketing
activities. It is very essential for companies to take care of effects of such
stakeholders while conducting their marketing activities.TASK 2
Reflection essay
In this Present report I analyse various things which effect in both positive and negative
manner. I used various kind of technical communication tools which affect on this project in both
positive and negative manner. I use some communication tools to directly interact with people or
stockholders talking suggestion about the project. Some communication tools I uses which are
like emails, social media, direct messages, email marketing, blogging and various other methods.
These tools help me in an effective manner and also save my time. When I use email to interact
with stockholders. It does work in positive manner. Some customer reply late of my emails. So
some decision of mine effected by the late reply of stockholder which impact on project in
negative manner. Social medial is an effective tool that is used by companies to promote and
advertise their products. Social media helps in promotion activities of product and services in
market. social media run according to the trends and it also help to attract more customers
(Cohen, 2019). Tesco is a multi-national grocery organisation that has an effective marketing
process which helps in doing successful business. This company is a renowned organisation and
it is promoting products and services using social media. The marketing activities and decision
making of company depends upon the stakeholders and after doing this project I got know
information about each and every stakeholder and their impact on marketing activities of Tesco.
In the accomplishing of this report, several steps of marketing process of Tesco are discussed. It
is necessary for every organisation to know the actual condition of organisation in market. I
calculate strength weakness, opportunities and threat of this particular organisation (Heagney,
2016). I analysed that marketing strategy help the organisation to create an effective value
between customers. In this present report I got to know about various marketing strategy like
effective advertisement through social media, online marketing, by using blogs, etc. Besides it,
PESTEL analysis of the company helps Tesco to maintain and grow performance. Impact of
political, social, economical factors are also important for running an organisation appropriately.
I created blog which is also beneficial for me to promote products and services of Tesco. It
provide me help to effectively communicated with people as well as stockholders. I learn various

thing through this report. It also help me somewhere in skills and personality development. Also
I developed knowledge about the marketing strategies and planning of Tesco for achieving their
short as well as long term goals and objectives.
CONCLUSION
From the above report it has been analysed that Fundamental accounting play an
important role in growth of any organisation and business. Marketing mix is useful for analysing
opportunities that a company possess. A good marketing research is effective as it helps
company in expanding it's business successfully. Creating value in front of customers is
important for marketing department. If an organisation provides products and services on the
basis of needs and demands of customers then it is beneficial for the organisation.

REFERENCES
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Online
Marketing process of Tesco, 2019 [Online] Available through <https://research-
methodology.net/elements-of-marketing-process-of-tesco/>
Marketing process, 2019 [Online] Available through <https://www.smartsheet.com/strategic-
marketing-processes-and-planning>
Marketing mix of Tesco – Tesco Marketing mix,2019 [Online] Available through
<https://www.marketing91.com/marketing-mix-tesco/>