Marketing Strategies Tesco PLC

Added on - 21 Jul 2020

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Introduction to Marketing
Table of ContentsIntroduction.........................................................................................................................................3Task 1...................................................................................................................................................3P1 Use of marketing techniques in two companies............................................................................3P2 Limitation and constraints of marketing.......................................................................................5Task 2...................................................................................................................................................5P3 Use of marketing research in the marketing plan..........................................................................5P4 Use of marketing research for marketing planning.......................................................................7Task 3.................................................................................................................................................12P5 Target customer for product and service.....................................................................................12Task 4.................................................................................................................................................13P6 Development of marketing mix new product development........................................................13Conclusion..........................................................................................................................................14REFERENCES..................................................................................................................................14
IntroductionIt is essential for a business entity to use marketing essential which provide competitiveadvantage. Marketing is a systematic process of creating, communication and delivery ofgoods and services in an appropriate manner (Shepherd,2015). A company required toidentify customer needs, develop products and maintain relationship with their stakeholders.The present report is based on Tesco PLC which is grocery and retail firm and operating theirbusiness in United Kingdom. The main aim of this study is to determine significance ofmarketing in a business in order to attain competitive position in the market.Task 1P1 Use of marketing techniques in two companiesFor a business unit consistent growth is required to sustain in the current market. For this therole of Ansoff matrix is too significant which provide long term profitability to their business.Ansoff matrix for Tesco and British Airways:Marketing strategiesTesco PLCBritish AirwaysMarket penetrationIn this strategy marketingmanager are required to usevarious tactics which helpsincrease market share inexisting market (Whitlow2012). For this, TESCO candesign an attractivemarketing mix in aneffective manner. forexample, the cited firm canuse competitive pricingstrategies and offer theirproduct and services at thelower price. The main aimof such tactics is to increasemarket share and saleswhich is the common goalOn the other hand, higherauthorities of cited companyare to design their productsaccording to customerchoice. For example, theycan provide special offers totheir business class targetcustomer helps in maintaintheir position in the UKmarket.
for every businessorganization.Product developmentThis is another strategywhere a company try todevelop new product andservices. For example,Tesco can design anddevelop a new product rangefor their existing market forthose product who alreadyachieve saturation level.British Airways requiredthat to develop new productwhich satisfy customerneeds in an appropriatemanner. for example, theycan provide customizedproduct to its customerwhich helps in maximizecustomer satisfaction level(Wu,Kirkole and Huang,2016).Market developmentUK is one of the mostcompetitive market whichhaving adverse impact onrevenue and profit.Therefore, they required thatto expand their business into other emerging marketlike India and China.British Airways also need toexpand their operations in toother Asia market whichprovide long term growth totheir business.DiversificationIn this strategy Tesco PLCneed to diversify theirbusiness which helps tomaintain market share. forexample, the firm can openrestaurant chain in selectedplaces.Airways line one of thecomplex competitivebusiness which need asupportive sector tomaintain consistency in theirbusiness (Banerjee, 2013).the cited company can alsostart operation in to traveland tourism which help isdevelopingnewopportunities for them.
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