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Marketing Decision and Marketing Principles Assignment

   

Added on  2019-12-03

11 Pages3411 Words155 Views
MARKETINGPRINCIPLES

Table of ContentsINTRODUCTION......................................................................................................................3TASK 2......................................................................................................................................32.1 Macro and micro environmental factors which influence marketing decisions in Tesco32.2 Segmentation criteria if Tesco enters into different market.............................................42.3 Targeting strategy for the new watch introduced by Tesco.............................................42.4 illustrate how buyer behaviour affects the marketing activities in different buyingsituation..................................................................................................................................42.5 Propose new positioning strategy.....................................................................................5CONCLUSION..........................................................................................................................5TASK 3......................................................................................................................................5INTRODUCTION......................................................................................................................53.1 How products in Tesco can be developed to sustain the competitive advantage.............63.2 How distribution is arranged to provide customer convenience......................................63.3 How prices are set to reflect Tesco objectives and market condition..............................63.4 How promotional activity are integrated to achieve marketing objectives in Tesco.......73.5 Analyze the additional elements of marketing mix..........................................................74.1 Plan for marketing mixes of Tesco mobile for two different segments...........................74.2 Illustrate difference in marketing products and services..................................................84.3 Difference between domestic marketing and international marketing............................8CONCLUSION..........................................................................................................................9REFERENCES.........................................................................................................................10

INTRODUCTIONMarketing principles are the laws which the government has made so that at the timeof marketing the products the company uses ethical means. This task provides insight of themacro and micro environment factor which affect the marketing decisions of the Tesco.Further, it emphasizes on the new product which introduced by the Tesco for entering into thedifferent market segment. Lastly, it stresses on the positioning strategy which can be used bythe organization to target its customer. TASK 22.1 Macro and micro environmental factors which influence marketing decisions in TescoIt is very important for the Tesco organization to analyze the market scenario of thecountry. The marketing decisions are made according the needs and requirements of thecustomer and the condition which is persisting in the particular country.Micro environmentCustomers- Customers are the one which affect the marketing decisions of the Tesco.Tesco has to choose the source of marketing according to the preference of customer.Suppliers- they have to power to control the supplies of the Tesco retail organization.It is very important to satisfy them. Government- Tesco should make the policies according to the government. Thegovernment of the country has made several marketing rules for safeguarding theinterest of the customer (Ceylan, 2008).To identify macro environment PEST tool can be usedPolitical factors-Tesco should consider the political rules and laws which are made bygovernment and the political scenario of the country. Environmental factor- The marketing decision should be made by keeping in the mindthe environmental acts which are followed in the country by the environmentaldepartment.Social- These are the social values and beliefs of the people living in that particularcountry. The marketing activity should be done by Tesco by not harming the interestof the society (Femie, Femie and Moore, 2013). 1

Technological- in the developed country, the medium used for marketing istechnological advanced. It is feasible for the Tesco to use the source of mediumaccording to the technology prevailing in the country.2.2 Segmentation criteria if Tesco enters into different marketFor entering the new market it is important for the Tesco to identify the targetcustomer as according to that they can make the products which can satisfy the needs andrequirements of customer. As Tesco is the retail market chain so now it is entering into thewatches market. It is manufacturing the watches which are costly and is required by the youth(Kotler, Shalowitz and Stevens, 2011). The two segments which the company has targetedare demographic segmentation and the psychographic segmentation. In the demographicsegmentation the company can target the youth who are doing job and are at good position. Incase of psychographic segmentation, Tesco has made the watches for the individual whoemphasis on the status and wear watches for the status symbol. These two segments areinterrelated to each other. Tesco has targeted these segments customer foe its new product(Olimpia, 2011). 2.3 Targeting strategy for the new watch introduced by TescoThe target customers are the youth who are working at the good position. To targetthem, the company is using the social media for targeting for promoting their products.Besides this, they have tied up with the big multinational companies because of this they havecreated awareness in the minds of the customers. Further, in many events multinationalcompanies are giving this gift in the competitions which are held in the organization. Withthe help of this, Tesco has promoted their products. By using this watch the individual willcome to know its quality and will the buy the product later on. On the other ha, they are alsogiving advertisement in social media because the youth uses the social media for interactionand communication (Wise and Sirohi, 2005). 2.4 illustrate how buyer behaviour affects the marketing activities in different buyingsituation.It is very difficult but on the other hand it is important for the organization to judgethe buyer behaviour regarding buying of the product. At the time of marriage season thebuyers are keener to buy the products to gift at the time of wedding. So at that time, thecompany gives more advertisement in the newspaper, TV so that to make the customer awareabout the product. The marketing activity at this time is on the peak and the advertisement is2

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