Principles And Practices Of Marketing (pdf)

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Principles And Practices OfMarketing
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3Practical Promotional tactics of high street supermarket............................................................3TASK 2..........................................................................................................................................13Theoretical Promotional tactics of high street supermarket along with Theories.....................13CONCLUSION..............................................................................................................................16REFERENCES.............................................................................................................................17
INTRODUCTIONIn today's era, it is very essential for business to use marketing tools for promoting andcreating awareness about their products in minds of customers at market. In order to survive incompetitive world, it is necessary to do proper marketing for each and every products forsurviving and sustaining. Marketing is the activity of any organisation which is associated withselling and buying of product and service (Alserhan, 2017). This includes advertising,promotion, selling and delivering goods to individual. The given assignment is based on TESCOwhich was founded in 1919 at England, United Kingdom. It is British groceries and merchandiseretailer dealing in different products such as supermarket, superstore, hypermarket andconvenience shop. It highlights promotional tactics required in business and theoretical aspectsfor promotional mix used in business and evaluating effectiveness of these tactics.TASK 1Practical Promotional tactics of high street supermarketBackground related to TECO MarketingPromotion is the kind of marketing communication that is used for persuading orinforming target audience for product, brand, service and issues (Boulton and et. al., 2013). Itmain aim is to create awareness, generating sales, creation of brand loyalty and creating interest.This is elements in promotional plan or promotional mix. It includes advertising, directmarketing, personal selling, sales promotion, event marketing, trade shows and exhibitions. It
covers ways of communication which marketer uses for providing information about goods andit can be in form of both visual and verbal. Promotional mix define number of promotionalvariables that is chosen by marketers which helps firm for reaching its goals. It is known assubset of marketing mix. The policies are formulated for creating proper and effective promotionto reach maximum consumers. There are various types of organisation running in market havingdifferent goals and objectives. According to size of business that is small, medium and large,promotion tools are adopted.Here, chosen enterprise is TESCO which is British multinational retailer deals in variousproducts. It is considered as third largest retailer in world in terms of gross revenues and ninthlargest retailer in terms of revenues. Its headquarter is in Welwyn Garden City, England, UnitedKingdom. It was established by Jack Cohen in 1919. The key people of this firm are John Allanwho is non executive chairman and Dave Lewis who is CEO of group. It is serving it productsand services at United Kingdom, India, Thailand, Hungary, Ireland, Malaysia, Czech Republic.There are many subsidiary company of TESCO such as TESCO stores limited, mobile, familydinning limited, bank, Ireland, Dunnhumby, Booker Group, Spenhill and Jack's. It deals invarious products such as supermarket, superstore, hypermarket and convenience shop. There areseven countries where TESCO has its shops such as Asia, Europe and UK where market share isaround 28.4%, Hungary, Thailand and Ireland.The prices of product of TESCO is high as it sell high quality good having brand valueand market image. It has focused on high class and rich people for selling of goods. According todata of 2017, it has more than 476000 number of employees working and 6553 shops are locatedin different places for serving their consumers. From the data of 2017, it can be said that TESCOhas earned£55.9 billionrevenue,operating income is £1,280 million and net income is £54million. As it is large organisation so requires promotional activities for creation of awareness inmind of customers. It focus mainly on high group people of society and uses promotionalactivities such as advertising, social media and others. The effectively used tool is social mediaas large number of people are connected to social networking. Through help of this tool it canearn maximum profit and survive in market.Promotional techniques used by TESCO in practical and tactical manner
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