Principles and practice of marketing | Assignment
Added on 2021-05-30
19 Pages4148 Words37 Views
Running Head: Principles and Practice of MarketingTESCO PLCPrinciples and Practice ofMarketing
Principles and Practice of marketingPage | 1Executive SummaryTesco PLC is one of the largest groceries and merchandize stores which is headquartered in England and has presence in over 7 countries including Asia and Europe. Tesco as a brand has highly evolved since its inception in early 1919 under the leadership of Jack Cohen. The company evolved and create a standing by the virtue of strong brand recognition, identity and brand positioning. Tesco as a brand is registered in minds of consumers as a reliable brand which provides high quality goods to its consumers. The company create strong and positive brand advocates through its brilliant and creative campaigns which are highly targeted towards its Target audience. The brand uses the Principle of GLOCAL( Go Global and Think Local) in its international marketing, this is one of the strongest suite behind success of Tesco in international markets.
Principles and Practice of marketingPage | 2Table of ContentBrief Background.............................................................................................................................................................4Question 1...........................................................................................................................................................................5Answer 1.............................................................................................................................................................................5Brand Recognition...........................................................................................................................................................5Brand Identity...................................................................................................................................................................6Brand Positioning............................................................................................................................................................7Brand Personality............................................................................................................................................................7Brand Affinity....................................................................................................................................................................7Keller’s Brand Equity Model........................................................................................................................................8Brand Identity..............................................................................................................................................................8Brand Meaning.............................................................................................................................................................9Brand Response...........................................................................................................................................................9Brand Resonance........................................................................................................................................................9Aaker Model of Brand equity......................................................................................................................................9Question 2........................................................................................................................................................................10Answer 2...........................................................................................................................................................................10International Marketing.............................................................................................................................................10Reasons to go International......................................................................................................................................11EPRG framework for Tesco PLC..............................................................................................................................11Ethnocentric Orientation......................................................................................................................................12Polycentric Orientation..........................................................................................................................................12Geocentric Orientation...........................................................................................................................................12Regiocentric Orientation.......................................................................................................................................13Standardization VS Adaptation in the Marketing Mix....................................................................................13Factors favouring standardization versus adaptation..............................................................................13Standardization VS Adaptation of Products..................................................................................................14
Principles and Practice of marketingPage | 3Standardization VS Adaptation of Pricing......................................................................................................14Standardization VS Adaptation in Promotion...............................................................................................14Standardization VS Adaptation in Place..........................................................................................................15Glocalization concept using Hollensen Model..............................................................................................15Characteristic of SME and LSE according to the model are:....................................................................15References........................................................................................................................................................................17
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