Principles of Marketing Management

Principles of
Marketing
Management

EXECUTIVE SUMMARY
The function of marketing is to persuade customers to buy from a company. It is clear that
adherence to marketing concepts is a critical need for the organisation. This report discusses a
firm as well as the external and internal elements that have an influence on the firm. Because it is
critical to identify the organization's rivals, the current study includes a competitive study of the
industry. This report also includes a SWOT analysis as well as some future strategies that are
devised and presented.

Contents
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................4
MAIN BODY...................................................................................................................................4
Marketing Audit.....................................................................................................................4
About Company......................................................................................................................4
Macro analysis........................................................................................................................5
Micro Analysis.......................................................................................................................6
Competitive analysis..............................................................................................................7
SWOT Analysis......................................................................................................................8
Strategic priorities for the coming year..................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
Books and Journals...............................................................................................................11

INTRODUCTION
Marketing is one of the essential functions of management. It is important to attract and
persuade the customers towards the brands. It helps to enhance the sales of the organisation
(Ardyan and Sugiyarti, 2018). In the current report there is discussion related to Tesco and
principles of marketing followed by the company. It is one of the general merchandise retailer
and a grocery multinational that has its headquarters in England. It is vital to note that Tesco is
considered as third largest retailer in the world if it is measured in gross revenue. So in this
report there is discussion related to a marketing audit plan for Tesco in the market of UK. The
scenario of the organisation and the internal as well as external factor that have influence on the
organisation are discussed in the report. It is important for an organisation to gain advantage over
the competitors so in this report there is discussion related to competitive analysis of Tesco. In
the end of the report there is discussion related to the strategies that will help the organisation to
deal in the present situation.
MAIN BODY
Marketing Audit
Marketing audit is a systematic evaluation as well as interpretation of the marketing
environment of business. It is vital to consider both the internal as well as external factors and
integrate them in such a manner that helps to achieve the goals and objectives of the organisation
with use of marketing principles (Christensen, Robinson and Simons, 2021). There is discussion
related to all the problems as well as their solutions along with those opportunities that help
organisation to accomplish their desired goals.
About Company
Tesco is the world's third-largest retailer in terms of gross revenue and ninth-largest retailer
in terms of revenue. It's important to remember that the corporation was founded 102 years ago,
in 1919, in Hackney, London, England (Kotliar and Yurchyshyn, 2018). The company's products
include books, electronics, apparel, furniture, toys, software, financial services, and internet
services. TESCO is a global multinational with practices around the world. According to figures
from 2020, the corporation has a total of 7,005 stores. It is estimated that the corporation
employs around 423,092 people.