Marketing in Global Economy of Tesco Report
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Added on 2020-07-23
Marketing in Global Economy of Tesco Report
Added on 2020-07-23
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Marketing in GlobalEconomy
Table of ContentsINTRODUCTION...........................................................................................................................1A. ABOUT COMPANY AND IDENTIFY THE MOST RELEVANT CONCERN OF TESCO. 1B. CRITICALLY EVALUATING THE IMPACT OF RELEVANT CONCERNS ONCURRENT AND FUTURE STRATEGIES FOR SUSTAINABLE COMPETITIVEADVANTAGE IN SEGMENTATION AND BRANDING ..........................................................2C. Potential pessimistic economic future external factors which influence customer behaviour. ..5D. Identify and critically assess two possible opportunities for growth within the organisationsMACRO environment. ....................................................................................................................7F. Demonstrate skills of focus and conclusion................................................................................7E. REFERENCES ...........................................................................................................................9
INTRODUCTIONBusiness development growth is very much important for the organisation sustainability.For the same, company needs to acquire high performance services to attract number of potentialcustomers. Present report is based on the facts which are required for company to maintainstability in market. For the present assignment, TESCO has been taken into consideration. It is amultinational retailer in the UK. Report will discuss about the company relevant concern facingby the company. Adding to that, it will critically evaluate the impact of relevant concern which isimportant for TESCO to maintain its current and future stability. Likewise, it will summarizemacro and micro environment factors to evaluate effective working. A. ABOUT COMPANY AND IDENTIFY THE MOST RELEVANTCONCERN OF TESCO. TESCO is a British multinational grocery retailer company in the UK. It is the thirdlargest grocery merchant in the world after Wal-Mart and Carrefour as well as ninth largestdistributor in terms of revenue. TESCO has their own stores in 12 countries across the Asia andEurope (Anitha, (2014)). It operates its business through online as well. TESCO has providesvarious product and services under one roof such as vegetables, daily homes essentials, books,clothing, toys, petrol, software. They reposition itself from low down market into high gainmarket. TESCO also listed on the London stock exchange. Furthermore, TESCO expansion wasstart from between 1950s to 1960s and owned more than 800 stores. TESCO has purchased 70Williamson's stores in 1957, owned 200 Harrow stores outlets in 1959. 212 Irwin stores in 1960.Furthermore, apart from that, TESCO has facing several concerns like they are facingBritain's largest ever equal pay challenge through which they facing high issue concern. Legalfirm Leigh day has launched action against TESCO on the behalf of workers. Shop assistantsclaim that TESCO paid £3 less than male workers. According to the law TESCO must adoptfairly and equally paid wages to the employees and staff members on the basis of their skills andcapabilities (Bouckenooghe, Zafar & Raja, (2015)). Furthermore, another big concern facing bythe company was that suppliers of TESCO say that retailer worst in adopting grocery code ofconduct. 1
B. CRITICALLY EVALUATING THE IMPACT OF RELEVANTCONCERNS ON CURRENT AND FUTURE STRATEGIES FORSUSTAINABLE COMPETITIVE ADVANTAGE IN SEGMENTATIONAND BRANDING On the basis of above concern of TESCO, it has been given negative impact on thecompany future and current strategies. External marketing environment may impact negativelyon the performance of company (Certo, (2015)). Likewise, due to some external issues, companycould not adopt competitive marketing advantage rather than make its market growth. Due towhich they reduce their branding and public image in the market. Due to which they get lessprofit and market revenue. There are various macro and micro factors which affect company’senvironment. Micro factors are internal factors which is small forces within the company andmacro factors includes PESTLE (Political, Environmental, Social, Technological, Legal andEconomical) these are the gig forces which impact directly on the organisation functions.Through this PESTLE technique, company can easily measure external market environment andtake corrective actions accordingly. Furthermore, to find out internal micro factors company usesSWOT analysis to mitigate the future risk factors. This market environment gives positive andnegative impact on the business growth. Along with that, TESCO is the largest retailer in theBritish market but due to some issues and relevant concern they could not achieve their overalltarget and objectives. These potential impact of external environment forces give negativefeatures on company marketing strategies. Along with that, employees are the major factors ofcompany’s performance. TESCO has to provide equal pay to every employee on the basis oftheir potential and skills. If organisation fails to gain trust of employees, they could not achievetheir desirable objective and profit revenue. Overall, business environment plays a crucial role incompany’s development (Clarke & Hensen, (2015)). It may give negative negative impact on thebusiness activities. There are many market forces which influence the business operations andfunctional as political, legal, social, technological, environmental. Overall, due to changes ininterest or government policies, company needs to change their own policies accordingly.Furthermore, company needs to acquire fair ethical activities to impress their stakeholders suchas customers, suppliers, investors and employees. TESCO needs to adopt fair trade practices inorder to ensure healthy and safe working environment for company’s growth. As above mention2
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