Marketing Management: Analyzing STP Tactic of Tesco

MARKETING MANAGEMENT

Table of Contents
INTRODUCTION.....................................................................................................................................2
TASK..........................................................................................................................................................2
Analyzing STP tactic of Tesco................................................................................................................2
Examining organization marketing mix by focusing on 4ps for goods and 7ps for services....................3
Assessing their relationship marketing tactic within an emphasis on their current strategies..................7
Providing suggestions on how TESCO can improve its marketing strategy............................................8
CONCLUSION..........................................................................................................................................9
REFERENCES........................................................................................................................................11

INTRODUCTION
Marketing management is one of those practices that defines organizational discipline
which concentrate on specific application of advertising orientation, methods and techniques
insides organizations and on the administration of organizational promotion activities and key
assets. It encompasses varied elements such as market research, advertising, etc. It also defined
as procedure of effective decision making, planning and controlling. The current assignment will
be based on TESCO, which falls under category of leading supermarkets in the United Kingdom.
Its aim is to sell top quality and excellent satisfactory products to customers according to their
needs and more than expectations. The main reason behind organization success is its efforts and
initiatives that they made to make each consumer happy. The study will explain segmentation,
targeting, and positioning strategies of company and application of 4 & 7Ps of marketing mix.
Furthermore, lastly the report will justify relationship marketing tactic with an emphasis on
current strategies and appropriate recommendations for improving advertising tactic.
TASK
Analyzing STP tactic of Tesco
STP is a strategic model that helps a firm to position their product or service to target
specific group of buyers appropriately (Ing, Osman and Tze-Yin, 2020). This concept
encompasses three step methods that support marketer to identify potential customers and gain
their attention towards products purchasing. In the world of business, there are many companies
existed that has been utilized this framework in effective manner and apply each approach
systematically. TESCO may also apply this model in term of choosing appropriate tactic that are;
Segmentation-
This method helps to determine customer needs and allow marketer to segment market
appropriately (Agi and Yan, 2020). Currently, supermarket may apply market segmentation
technique by selecting beneficial strategy, which it encompasses to provide benefits in term of
identifying buyer’s needs. It may use multi-segmentation strategies that covers behavioral,
demographic, psychographic and geographic tactics. For example, by using Behaviorist
segmentation tactic based on consumers utilize rate firm may group wide spending market. It
may drive their attention towards determining needs and expectations of customers, which made

them capable to develop plan and tactic relate to product and service offerings. It may enable
them to obtain a lot of benefits.
Targeting-
Just like above strategy implication, TESCO may take initiative to choose and utilize
particular targeting tactic (Khandpur and et.al., 2020). It may use differentiation strategy,
because it has varied category of products and services for which management may have to
target specific group of customers. For instance, organization may target middle to high income
buyers between 20 to 50 ages who are able and interested to buy grocery items and financial
service offer by firm. Company may take action with chosen strategies to target individual who
may want something reasonable and valuable in term of quality, quantity and price as well. It
allows management to efforts gaining their attention.
Positioning-
It is quite important for marketer to set strong and influencing brand image in mind of
customers. TESCO may use experiential positioning strategy to mainly target its each customer
in the context of beauty and health range of items. Furthermore, marketer may take initiative to
use digital marketing tools such as social media that enable them to create a positive image in
buyer’s mind that is essential to do so for them. It makes them stronger to meet expectations of
customers and successfully promote their goodwill as well as loyalty.
Examining organization marketing mix by focusing on 4ps for goods and 7ps for services
Marketing mix is one of those strategic frameworks that help marketers to comprehend
what service or item they offer and how to plan for a successful and beneficial product offering,
which in return provide unexpected benefits to them as well as company for which they perform
their duty (Išoraitė, 2020). Here, 4 and 7ps of marketing mix elements use in the context of
services and products offer by TESCO to its target customers.
4Ps of marketing mix-
Product-
In term of products, TESCO and its management may take action to offer top quality and
quantity products in varied category, which permit them to build strong brand image in market