Marketing Process and Planning | Tesco

Unit 2: Marketing process and planning
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Introduction-----------------------------------------------------------------------------------------3
Task One: LO1--------------------------------------------------------------------------------------4
P1: The concept of marketing and marketing operations in different areas and role of
marketing----------------------------------------------------------------------------------------------------4
P2: The marketing function relates to the Tesco-----------------------------------------------------11
References-----------------------------------------------------------------------------------------13
Task Two: LO2------------------------------------------------------------------------------------15
P3: Apply the marketing mix to the marketing planning process----------------------------------15
Marketing Plan Process----------------------------------------------------------------------------------16
Task Three: LO3 & LO4------------------------------------------------------------------------19
P4: A marketing plan for Tesco------------------------------------------------------------------------19
P5: A media plan that includes recommendations and rationale for Tesco-----------------------22
Conclusion-----------------------------------------------------------------------------------------26
References-----------------------------------------------------------------------------------------27
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Introduction
Marketing is vital in today's corporate world. An in-depth understanding of the sector, consumer
expectations, successful relationships, and great customer service are required. The advantages
of customers have prompted businesses to adopt a new workplace marketing
strategy[ CITATION Hod19 \l 1033 ]. In today's global industrial economy, there is an
abundance of marketing expertise. One of the firms studied in this study is Tesco, situated in
Welwyn Garden City. It is the world's third-largest retailer by gross revenue and ninth by
revenue. It is the UK's biggest supermarket chain and has a strong presence in five European
nations. This assignment help study is on today's global firms' marketing methods[ CITATION
San17 \l 1033 ]. This chapter's first section examines marketing efforts and how they relate to
other aspects of the firm. Marketing mix is often compared between businesses. Tesco's main
marketing strategy has been developed and evaluated as a consequence.
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Task One: LO1
P1: The concept of marketing and marketing operations in
different areas and role of marketing
The Marketing Concept
In the field of marketing, customer service is critical since it comprises contacting potential
customers and alerting them about products, services, and ideas that they may be interested
in[ CITATION Wah17 \l 1033 ]. The "correct" concept is at the heart of all marketing strategies.
Creating goods and services that exceed the expectations of customers is at the heart of
marketing.
Customer Value
Customer value is defined as the relationship between a customer's benefits and their expenses.
Both advantages and expenditures are important to the client[ CITATION Hol181 \l 1033 ].
Many successful firms rely on client retention as a significant part of their overall strategy. When
it comes to establishing customer value, it is important to remember that cost is not the only
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factor to consider. Production expenses and consumer prices will be treated as commodities, and
the company will be operated as a commodity-based enterprise.
Customer Satisfaction
When a consumer thinks that a product has met or surpassed their expectations, it is referred to
as "customer-satisfied"[ CITATION Som181 \l 1033 ]. Communication, particularly advertising,
is a typical source of excitement and suspense. In order for a company to be successful,
marketing research must be conducted in order to discover consumer expectations and build a
marketing plan that meets or exceeds those expectations.
Building Relationships
Relationship marketing is a method for building long-term relationships with
customers[ CITATION Sal17 \l 1033 ]. Delivering value and satisfying customers are essential
components of developing long-term customer relationships. Customer loyalty increases the
likelihood of repeat purchases, regardless of whether a competitor's price is lower or if they are
offering a discount or incentive. Customers prefer known brands over new rivals, according to
research. Revenue, market share, and profitability are all boosted by repeat business and
recommendations. Because it is less expensive to service existing customers than it is to acquire
new ones, rates are cheaper. Improve customer retention on a consistent basis.
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Marketing Operations
It includes employees, methods, and technology, all of which contribute to the constant and high-
quality growth of marketing. It offers strategic planning, governance, and support services so that
marketing teams may focus on giving value to consumers and clients[ CITATION Jha181 \l
1033 ]. It covers the marketing process from planning and budgeting through execution and
analysis. Marketing operations boosts marketing firms' efficiency and profitability. The
marketing strategy includes analytical infrastructure, business process best practices, and
finances.
Marketing Operations Cuts Across Existing Departmental Boundaries
Marketing requires a flexible, cross-functional, cross-departmental leadership approach. Siloes
damage marketing efforts (data, content, knowledge)[ CITATION Dew19 \l 1033 ].
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