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Marketing Strategy of Tesco Plc

   

Added on  2021-05-31

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Slide 2:Tesco Plc is a trading company commonly known as Tesco. It is a multinational groceryand a general merchandise retailer having its headquarters in the city of Welwyn of Hertfordshirein England as well as in United Kingdom. Tesco is considered to be a third largest retailer shopin whole world in terms of profit and ninth largest retailer in terms of revenues. Tesco has shopsin almost seven countries all over Europe and Asia and is considered as a market leader I grocerysector in UK, Hungary, Ireland, and Thailand. Tesco is a UK grocer, has expanded its shops geographically from the year 1990 as wellas in the areas of retailing of clothing, furniture, petrol, software, toys, books, financial service,internet service and telecom service. In the year 1990, Tesco reposition itself. Tesco movedfrom down market high volume low cost retailer to a market which appeals in many socialgroups that offers products ranging from Tesco Value to a range of Tesco Finest. The broadening
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of appeal was very successful and the chai of Tesco shops grew from 500 shops to about 2,500shops in the later fifteen years. Slide 3:In year 1923 Jack Cohen, founded a small company of retailing and in the later year, JackCohen partnered with tea merchant Thomas Edward Stockwell for selling their own brand of teawith a brand name Tesco Tea. The name of the company was derived from both the founders ofthe company. Cohen started the business as private company and then converted the company toa public limited company in 1947. This was done by listing the stock on London Stock Exchangeat share price of 25 pence. Jack expanded the business by acquisitions and then y adding manynew stores in the market. In between the time 1950 and 1960, the company acquired very largequantity of grocery stores and retail stores in UK. The stores that Tesco used were large and alsooffered very huge amount of products. Tesco store that was in Leicester entered the record ofGuinness Book being largest store in quantity terms of products and size of store. In year 1963,
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Jack included Green Shield Stamps (GSS), which is a type of Trading stamp that was introducedby GSTSC (Green Shield Stamp Company). Tesco accompanied with GSTSC and thenintroduced GSS in its check out point. Slide 4Tesco already has created a strong and solid value chain system that is designed and isexecuted. The tool that was developed by Michael Porter is basically based on five forces. ThePorter rule is a threat to new entry, power of supplier and buyer, threat for existing substitution,as well as rivalry in competition. Porter’s Model is very essential to things in mind. The loyaltyof customers, making sense of pricing difference, standard quality, service or product attributes.
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Slide 5From the year 1919, Tesco reached to a high heritage for running business in the market.Tesco has reached a royal success in terms of profit and revenues. Sustainability, stability,reliability are main selling points of the company. According to Terry Leahy, the CEO of thecompany, Tesco serves the need of about 90 percent of the British Population. The company hasmaintained the share of the market from a long time, however this may not be the samethroughout. The company has to concentrate on the competition management, plans for businessexpansion. There are also competitors of Tesco known as Carrefour and Walmart that may causethreat in future implementing different strategies for attracting consumers, which may lead toreduction the market share. To raise the quality standards of a company is a good way to conducta business. The feasibility that is involved in a technology that is cloud based, innovative processand product development cycles are some areas of improvement. The automation scope that canbe tested and can be verified is to save cost of the business processes. The team of project
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