Marketing Strategy and Application

This study material explores marketing strategy and application, focusing on the comparison of different organizations' use of the marketing mix. It also includes a basic marketing plan for Tesco, considering the impact of COVID-19 on their operations. Learn about Tesco's marketing strategies and the importance of sustainability and promotional tools in enhancing customer base and financial performance.

Marketing Strategy and
Application

Table of Contents
INTRODUCTION...........................................................................................................................3
P3 Comparing the ways in which different organization apply the marketing mix...................3
P4 Basic marketing plan..............................................................................................................4
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Marketing strategy is the application that is used to help promote the business product at
market. Also, the chosen firm for this report is Tesco which is a top international firm whose
headquarter is in UK and now the company s suffered from Corona Virus. Thus the report will
compare the marketing mix element with other company. Also, provide a basic marketing plan
that assist to meet the define aim and objectives.
P3 Comparing the ways in which different organization apply the marketing mix
Marketing mix refers to the collected of all the objectives and action or strategies that are
used to promote the business products and services. Thus, it comprise the 7 key element which
are as mention below:
Particulars TESCO Marks and Spencer
Product Tesco provides range of new
products such that food, pet care
products, beverages, Frozen food
bakery products etc. further, the
company also provides toys, garden
products, car products, sports and
leisure products and clothing, jewelry
etc.
Company have big presence at
international level such that it deals
with both men and women cloths.
Further, company also deal with the
beauty products such that skin care,
make u and hair care (Blut, Teller and
Floh, 2018). Further it also sell,
furniture, flower and food to their
customers
Place Currently the company have more
than 6900 stores which are located in
11 countries. This shows that the
company have a large supermarket
who sell groceries and small range of
non- food items (Marketing mix of
Tesco, 2019).
M&S have its brand presence such
that it deals at international level such
that Egypt, Spain, Qatar, Jordan etc.
Price Company follows cost leadership
pricing strategy in which it offered
the low quality products at minimum
price.
The company follows competitive
pricing strategy which means that it
changes its price after analyzing
other’s prices.
Promotion Company have strong marketing
strategy such that it uses modern
form of marketing tools. Currently
the company also have loyalty card
such that Tesco clubcard for their
target market. Also, it sells the
product online that helps to attract
Company follows modern form of
promotional strategy in which it keep
attracting customers through social
media and post on website. Further,
company also uses magazines,
newspaper, radio, TV etc.

international customers.
Physical
evidence
It means the logos, color and label
that clearly reflect the company’s
proof. Also, the stores are also a
physical evidence of a brand .
Company have its website, post and
brand that are consider as a physical
evidence. Further, M&S also their
physical store which is a part of
physical evidence.
Process The process of Tesco is quite simple
because each floor of the store
divides in section which means that
people can easily select the products
(Wu and Li, 2018).
The process of the company is not
simple because customers have to
wait for so long for payment and this
in turn affect the brand image of the
company.
People Company’s employees, staff
members, owner are also consider as
a key people of the company and
there are around 4 lacs people
working with Tesco.
The company have its key people
such that employees, board of
director, management team,
customers etc.
The objective of the marketing mix is to enhance the customer base and increase the
financial performance of the firm so that image will be sustain. So, ti accomplish the define aim,
both company adopt different strategies by applying marketing mix analysis. Like, Tesco uses
discount pricing strategy in which it offer the product at minimum discount, while on the other
side, Marks and Spencer focused on quality of product rather than pricing. So, it is clearly
reflected that in order to meet the define aim, both companies applies different strategy through
which customer base will be enhances.
On the other side, to increase the financial performance and sustaining image, Tesco
mainly focus on sustainability in which it uses recyclable product and this in turn assist to sustain
the brand image. On contrary side, Marks and Spencer uses promotional tools like social media
so that it attract range of customers which in turn increases the financial level of a company and
as a result, it sustain the brand image as well. This is clearly stated that to attain a singly aim,
companies have their own strategies of marketing mix.
P4 Basic marketing plan
Summary: Tesco is currently facing issue with regards to Corona Virus and that is why,
company have to make effective marketing plan which includes the vision, mission and
situational analysis that will help to deal with the issue. The marketing plan contain different key
element which are as mention below:

Vision: “To be one of the most highly value business by providing the best customer service to
their customers”
Mission: “To provide the best variety of services to their customers and reach at international
level”
Objectives:
 To implement the best products which help to attract customers and fight against Corona
virus.
 To enhance the customer base by offering the best variety of products within 3 months
Situational analysis:
SWOT analysis: This model is used to determine the micro factor which means to determine the
internal factor that may directly affect the business environment of the company. This is
comprises of four factor such that:
 Strength: The company have a brand image at international level which means that it
occupied the largest marketing share in grocery retail market. It is also thrive a global
presence with more than 6500 stores within a 14 countries. Also, it has a diversified
stores which means that it has a good financial position (Ismail and et.al., 2018).
Company also uses the advance technology which means that it enhance the shopping
experience of their customer and also have a efficient supply of chain network as well.
 Weaknesses: The company has a failed operations in US and Japan and as a result it also
face issue and great loss. Also, the entire world is affecting from Corona Virus and due to
lock down the company also shut its recent operations which means that its financial
position got affected in negative manner. This is one of the biggest weakness that may
also leads a business towards debt.
 Opportunity: By providing a free food service to their customer will help to create an
opportunity for TESCO and this will assist to enhance the brand image at global level.
Also, by providing online facility to their customers will also assist to attract range of

customers towards it and it may also start home delivery facilities to their customers that
also creates an opportunity.
 Threats: Company faces a strong competition from the market and that is why, company
also changes its pricing strategy and its marketing strategy. Further, economic crisis due
to Corona Virus also got affected the entire economic stability of UK and this in turn also
affect the business of TESCO in opposite manner (Massingham and Pomering 2017). that
is why, there is a need to made a strategy that will help to cope up with the issue.
Marketing mix
Product: Tesco provides range of products such as grocery, toys, financial services, petrol, etc. It
offers wide product ts and services to the customers and meet their requirements.
Place: Tesco has limited its sales of the products and services and has also limited its operation
to central Europe, Ireland and United Kingdom due to Coronavirus Pandemic. This way it helps
in targeting there key markets and gain profit.
Price: Company follows cost leadership pricing strategy and it also offers goods at reasonable
and affordable price (Kotler and et.al., 2017). This strategy is useful in attracting large people
and leads to increase in sales.
Promotion: Tesco company uses online social media platforms to promote the goods and
services offered by company. This helps in making people aw are about the products and
services offered by the company.
Physical evidence: Tesco company has specific logo, color and label which helps in building
brand reputation for the company. This helps in attracting customers because of the effective
goodwill of the company.
Process: Tesco tends to follow divisional structure in order to carry out activities in a flexible and
systematic manner (Wood and Jobber, 2016).
People: Stakeholders are considered to be the key key people of the organization. Government
and customers are key people at the time of Coronavirus. They are the people who are largely
influenced if the operations of the company is affected.

Budget
PARTICULARS COST (IN $)
Marketing $1200
Research and development $800
Labor $1000
Production $1600
Others $850
TOTAL $5450
The management of the Tesco company has set a budget of $5450 in order to vary out
various set of business operations. The cost associated with marketing includes $1200. The cost
associated with research and development includes $800. The cost associated with labour
includes $1000. The cost associated with production includes $1600. The cost associated with
other activities includes $850.
Monitoring and controlling
Tesco Company tends to focus on monitoring its business activities by appropriately carrying out
various business functions (Kotler and et.al., 2017). Tesco company tends to monitor the
performance of the company through Key performance indicators. This is considered to be one
of the most prominent tool because it helps in determining whether the organization is
performing its operations with utmost accuracy and efficiency. The Tesco company must focus
on carrying out research and development activities which in turn is very useful in effectively
carrying out various set of operations. This leads to higher sustainable growth and productivity
the business. In order to control the effect of Coronavirus, Tesco company tends to focus on
determining its key competitors which in turn eventually leads to higher operational growth and
sustainability (McDONALD, 2016). The company must also focus on carrying out the market
analysis on a continuous basis as this will help in carrying various sets of operation in a
systematic manner. Complete market research and market analysis will in turn helps in
determining such Coronavirus pandemics on a predetermined basis. This way it is useful in
controlling various business operations with utmost accuracy and efficiency.
CONCLUSION
This study summarizes that, marketing mix is crucial to determine the functions and
operations of the company by carrying out comparison between Tesco and Marks and Spencer’s.

The Tesco company must focus on carrying out research and development activities which in
turn is very useful in effectively carrying out various set of operations. It also sets benchmark
and key performance indicators to carry out business activities. This study also carries SWOT
analysis.

REFERENCES
Books and Journals
Blut, M., Teller, C. and Floh, A., 2018. Testing retail marketing-mix effects on patronage: A
meta-analysis. Journal of Retailing. 94(2). pp.113-135.
Ismail, M. and et.al., 2018. Application of Entrepreneurial Marketing to the Marketing Mix:
Why it Matters to SMEs in Malaysia?. International Journal of Academic Research in
Business and Social Sciences. 8(12).
Išoraitė, M., 2016. Marketing mix theoretical aspects. International journal of research
granthaalayah. 4(6). pp.25-37.
Kotler, P and et.al., 2017. Marketing for hospitality and tourism.
Massingham, P. R. and Pomering, A. A., 2017. Introducing Knowledge Management to the
Marketing Mix.
McDONALD, M.A.L.C.O.L.M., 2016. Strategic marketing planning: theory and practice. In The
marketing book (pp. 108-142). Routledge.
Wood, M.B. and Jobber, L., 2016. The marketing plan handbook. Pearson.
Wu, Y. L. and Li, E. Y., 2018. Marketing mix, customer value, and customer loyalty in social
commerce. Internet Research.
Online
Marketing mix of Tesco. 2019. [Online]. Available through:
<https://www.marketing91.com/marketing-mix-tesco/>.