Marketing Management Services (PDF)
15 Pages5078 Words62 Views
Added on 2021-02-19
Marketing Management Services (PDF)
Added on 2021-02-19
ShareRelated Documents
MarketingManagement
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Introduction about the company and the industry.......................................................................1Marketing audit...........................................................................................................................2Marketing mix and the company’s product or service mix.........................................................6New marketing mix actions to achieve gaps between the company’s present marketingstrategy and external environment..............................................................................................8CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12
EXECUTIVE SUMMARYMarketing management is considered as the investigation, planning, execution as well ascontrol of programmes which are planned to bring about the expected exchanges with targetcustomers for the purpose of personal and mutual gain. In this report, external analysis isconducted to know about effectiveness of external factors as well as market attractiveness.Marketing mix is performed to understand which product is suitable for which place in whatprice. Product mix is done to know about respective company product line length, breadth,height and Consistency. Moreover, their different brands target the various market. Newmarketing mix are performed with the help of which gaps among the firm's current marketingstrategy as well as the external environment can be accomplished. INTRODUCTIONNow a days marketing management is the significant function within businessorganisation. This is considered as an organisational discipline that concentrates upon practicalapplication of marketing orientation, techniques as well as procedures within firm. It is helpful tounderstand the clients requirements, developing product, expand the techniques to meet potentialconsumers and many more. For this report the chosen company is Tesco which is the leadingmultinational retailer (Baker, 2014). Its headquarters is in Welwyn Garden City, Hertfordshire,England, UK. The purpose of this report is to explain about the chosen firm and industry.Marketing audit that outline whole market attractiveness as well as marketing mix and productmix. Apart from this, New marketing mix are conduct to attain the gaps among externalenvironment and current marketing strategy of the firm are also mentioned in this report. MAIN BODYIntroduction about the company and the industryThe retail industry is vital to the economy of United Kingdom. This particular sectorsinvolves any business that are related to sell the products directly to customers. In 2017, Retailsectors economic output was approx £92.8 billion, employment £2.8 million and in 2018 retailbusiness were approx 319000. Within three months to April 2019, quantity of products volumein retail sales enhanced through 1.8% compared to last 3 months (Retail Industry. 2019). Thefour largest retailers in UK are Sainbury's, Walmart, tesco and Morrisons means that sector isdominated through supermarkets. In this sectors there are some key issues like internet retailing,1
changing behaviours of consumer, store closures and so on. The employment opportunities inthis particular sector can be found in retail management, visual merchandising, distribution,supply chain and many more. Tesco is the fastest growing British multinational general andgroceries merchandise retailer. Its headquarter is in Welwyn Garden City, Hertfordshire,England, UK. It is founded in year 1919 by Jack Cohen and they have approx 7000 shops in allover world as well as operating in about 13 countries. The product portfolio of respective firmconsists food and beverage, financial services, home appliances and clothing. The subsidiaries ofTesco are Tesco bank, Ireland, mobile and many more. Its total revenue is approx £ 63,911 andgross profit is £ 4,216 million and having about 500,000 employees. Moreover, it is listed on theLondon Stock Exchange as well as is a constituent of FTSE 100 Index. They are consistentlyranking highest in context of grocery market share and facilitates various stores formats to itsconsumers such as superstores, super market, hyper market etc. most of their revenues areproduced from the UK market. As per the market share main competitors in grocery storesbusiness are Asda and Sainsbury (Tesco Introduction. 2019). Marketing auditMarketing audit is considered as a comprehensive analysis as well as examination of firmmarketing goals, objectives and activities. Also, it is systematic, comprehensive, evaluation,analysis and interpretation of the business marketing environment, external and internal both,their objectives, principle, strategies to determine the opportunities and issues areas and also tosuggest a plan of action for maximising the company's marketing performance . This is usuallyperformed by the third party. It should be always be comprehensive, this included wholemarketing areas in which issues persist as well as does not considered a single marketingproblems within the consideration (Dickinson, 2014). Moreover, this have to be systematic forsystematic analysis and evaluation of the organisation's internal and external environment,which directly or indirectly influence performance of marketing. It have to be independent, thiscan be performed through six manner that are firm audit office, task force audit, outsider auditand many more. Also, this have to be periodical. Through executing an audit, Tesco can able toview the manner their marketing efforts are managed and planned. There are several componentsof marketing audit explanation of these are mention below :- External environment audit – In this factor which are outside the organisation and directlyinfluencing marketing performance of TESCO. Thus, it is necessary for respective organisation2
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Marketing Management of Tesco : Assignmentlg...
|15
|4237
|247
Marketing Management of Tesco - Assignmentlg...
|13
|4489
|30
Performance Evaluation of Tescolg...
|14
|877
|77
Human Resource Management and Outsourcing in the Organisationlg...
|16
|3883
|477
Tesco: Background, Products, and Competitive Analysislg...
|12
|4079
|32
Report on Food Wholesale Sector in Booker Wholesalelg...
|9
|2909
|66