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Report on Marketing Strategy - Tesco

   

Added on  2020-06-05

25 Pages4571 Words157 Views
Task 1: Brief Title: Role of marketing and significance of interrelationshipbetween functional departments of TescoPrepared for : Junior Marketing ExecutivePrepared by:Your name, Senior Marketing Executive, Tesco.IntroductionMarketing strategies and concept are the two fundamental factors that are used for growingthe business in the market. This study will explain all the strategies and techniques that areused by Tesco plc in achieving success in the business. Tesco plc provides finance andtelecom services to the people, and they also do business of grocery market. A goodmarketing strategy will help to enhance the business and will create a positive impact on thecustomers that will attract them to their business. Marketing strategy is the backbone of themarketing plan in a business. This study will explain the marketing concepts that will help inthe coordination of the company with the needs of the customers. 1.Concept of marketing: The Key roles and responsibilities of the marketing function are very crucial for the growthand the sustainability of the organisation irrespective of the industry organisation. Themarketing department of the particular company goes for performing the functions ofmarketing of the organisations. The different roles and responsibilities of the marketingdepartment include the following:

Market research: The market done by the marketing department gives a clear viewof the state of the organisation within the market along with that of the market trendsthat are required in order to strategize new plans for the achievement of themarketing. Further the market opportunities and threats are also evident from themarket. Strategizing: Another prominent role of the marketing is that of strategizing plans asper the target of the organisation which is aligned with that of the organisationalobjectives. The identification of the opportunities is thus considered here in order todevice plans for the sales growth and sustainability of any organisation. Product Development: The product development is the responsibility of themarketing department so as to innovate products or services that is evident to bringabout increase in the sales of the organisation. Communication: Marketing plays as communicator between the promotionalactivities done by the organisation along with that of the sales of the organisation. Theplatforms are chosen by the marketing department of the organisation that includesadvertisements in the cross-media platform. The different media creates acommunications between the organisation, the external stakeholders as well as thecustomers after purchase as well. These often include press release, newsletters, emailmarketing and the like.Sales support: The sales and the marketing department are often considered similarbut they are actually interrelated to the growth of the organisation. The main focus of the company is to satisfy the customers in order to dominate the marketthat will help them to become leader in the market. Chng et al. (2015, p.629) has commentedto do this three types of marketing must be followed in the marketing process. It has beenfound that Tesco plc is following the marketing process in a systematic manner. They securetheir market by setting the clear objectives about their mission and they do survey at aninterval of one month to check the marketing situation so that they can provide the bestproduct to their customers. They investigate the whole retail industry so that they cancompete with the other competitors of their market. They do a strategic planning so that theycan enhance the interest in the mind of the customers to use their products. They developmarketing concept by making a clear objective that leads to the efficiency of the cost andresponsibilities in the market (Gerlemann et al. 2014, p.1200).

Figure 2: Market share of Tesco(Source: Tesco.com, 2017)

Marketing processes:Situational Analysis:Tesco plc established the strategies to grow their business by launching new services andproducts in the existing as well as in the new market. This function has help Tesco to conveya strong and effective growth from the past few years. They do their marketing with the entireUK by providing their different services such as finance, telecom and many more.Developing Marketing Strategy:They have a tremendous international retailer in the stores as well as in the online shopping.The employees who are working in Tesco have the skills of working in team that has added apositive impact in the growth of the market.Situation AnalysisDeveloping Marketing StrategyDesigning Marketing TacticsImplementation and Control

Designing Marketing Tactics:Griffith and Hoppner (2013, p.21) has mentioned that the product that are non-food achievemore profit margins as compared to the traditional product. Tesco has discovered this withinthe time and has taken the advantage of this factor. The company has employed the extranet system that has helped Tesco to use internet in orderto develop proprietary and legal information among the company and the business partners ofthe company. This system has helped to connect them with their business partners in a mosteffective way. This has brought more flexibility and integration in the channels.Implementation and Control:It has been found that this company has a huge number of suppliers and they have developedan effective partnership with the suppliers. There is huge contribution of the employees whoare working in Tesco in the success of their market. They have developed themselves to givetheir best to the customers. The performance of the employees are been examined by themanager of the company and this indulge them to work effectively in the company.Moreover, Tesco also assures the local communities to support them actively and provide thecustomers with the best choice.

2.Roles and responsibilities of marketing manager in context of Tesco:The roles and responsibilities of the marketing manager of Tesco include that of the roles thatare generally done by the marketing manager of the organisation. The managers strategiesplans for the organisation in relation to the expansion where required. These include differentmarketing techniques. The techniques are advanced level of advertising that is supportive ofthe organisation. The company uses massive cost saving activities related to theadvertisement of the organisation through the employment of market differentiation. Forinstance, during the Christmas the marketing manager opted for the emotional campaign waseschewed through the retail chain that created humour for the family gatherings which was aninnovative idea of marketing and involving the potential customers. Sales promotion of theorganisation is done through the employment of the employment of free gifts, point of sakematerial, clubcard and the like.

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