Marketing Management of Tesco : Report
An individual written report consisting of a maximum 3000 words
13 Pages4053 Words65 Views
Added on 2020-07-22
Marketing Management of Tesco : Report
An individual written report consisting of a maximum 3000 words
Added on 2020-07-22
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MARKETINGMANAGMENT
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................11. Define the term marketing segmentation, justify segments that organisation should target infuture marketing operations....................................................................................................12. Internals and external analysis on the TESCO and two matrix. ........................................23. Recommending Key marketing mix activities...................................................................64. Evaluating the way recommended marketing mix activities should be strategicallyplanned..................................................................................................................................75. Outlining the key areas of study.........................................................................................8REFERENCES..............................................................................................................................10
INTRODUCTIONIt is the kind of study and management of exchange relationship, it is helpful in order topromoting and selling product and services. Thus, it can be taken as one of the premier elementof business management. Marketing is the activity which is consists of various elements with thehelp of which business function can be perform in appropriate manner. It is the kind of businessdiscipline which puts their major focus on the practical application of marketing techniques,management of the firm, marketing resources and activities. The main aim is to provide rightproduct to the right customer. The present report will outline the business activities of Tesco, it isretail sector and engaged in distributing its services so that firm can able to capture maximumshare in market. This report will cover the following things as are market segmentation, Internaland external market environments, Twos matrix, key marketing mix activities etc. this all arehelpful in order to carry marketing function in appropriate mode so that large amount ofprofitability and productivity can be generated.TASK 1 1. Define the term marketing segmentation, justify segments that organisation should target infuture marketing operations.The term Marketing segmentation is referred as division of broad consumer and businessmarket and its consists of the potential customers into sub groups of consumer this kind ofactivities can be known as marketing segmentation. It can be done on the basis of differedcharacteristics in market. It is depends on the belief that market for each segments is need to bedone so that goals and objectives of the firm can perform their activities effectively. It is thetechnique which used by the organisation to narrowing down large audience target. With the helpof effective segmentation the firm is able to target the segments by analysing the specific need ofthe customers. Thus, it can be said that marketing segmentation is one of the effective process inorder to determine the plan of action. In this way there are kind of marketing segmentationprocess and this is defined in the following manner as are- Behaviour segmentation- Under this market segmentation works as to have proper division ofthe population on the basis of behaviour and pattern of decision making. There are variousindividuals who belong to different age, in this manner they are having differed choices in orderto meet this all produce need to segment the market activities on the basis of behaviour of1
customer. The Tesco need to provide those products to their buyer on which they can trust. Theloyalty on the one particular brand helps them to classifying each smaller groups towards the oneparticular brand. Psycho-graphic segmentation- It is that kind of segmentation which works as per the lifestyleof people, interest, activities and various other things called as market segments. The behaviouralsegmentation and psycho-graphic segmentation are quite similar to each other. It is alsodependent on the consumer buying behaviour. In this there are various kinds of aspects areincluded as are social standing, consumer lifestyle so that each activities can be undertaken in theeffective and efficient mode. In this division is need to be done on the basis of the lifestyle of thecustomers in the market. In this there are various activities are included as are individual'sattitude, interest and value. Geographic segmentation- This term is defined as classification of market into various kinds ofgeographical areas. It is very helpful in relation to have expansion of working of businessactivities into the various kind of areas so that marketing function can be taken in the effectiveand efficient manner. Demographic segmentation- It is one of the simplest and wide kind of segmentation is need tobe done. In this the segmentation is need to be divided on the basis of the population based onvarious kind of variable in the market. There are various kinds of variables as are age, gender,family size etc. the Tesco need to produce there product as per the need and variable in themarket (Alonso-Dos-Santos, Guardia and Ko, 2018)2. Internals and external analysis on the TESCO and two matrix. The internal and external analysis are very helpful in order to analyzing the overallposition and function of the enterprise. Thus, internal activities is need to be conduct in order todetermine the performance of the firm in the market. This is defined in the following manner asare- Strength- It is the powerful retail brand globally. The Tesco is using the method of innovation intheir services so that firm activities can be enhanced. The strength as are providing the qualityproducts. In addition to this they also offer loyalty packages as are club-card they work as toretain the customers and able to create the long term relationships with customer in the market. Weakness- The financial performance of Tesco is not that much effective. They are morevulnerable in relation to disposal income in the society. The brand image of the firm is adversely2
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