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The Impact of Marketing Strategies on Sales Performance: A Case Study of Tesco

   

Added on  2022-11-24

15 Pages2939 Words134 Views
Research Project
1

Research title:...................................................................................................................................3
Introduction..................................................................................................................................3
Background to the Project...........................................................................................................3
Aim and Objectives.....................................................................................................................3
Literature Review – consider the research findings on company chosen topic linked to
company research objectives.......................................................................................................3
Research Methods - critically evaluate the research methods used within the findings
presented......................................................................................................................................5
Main Findings..............................................................................................................................9
Conclusions, Evaluations and Recommendations.....................................................................13
REFERENCES..............................................................................................................................16
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Research title:
`The impact of Marketing strategies on Sales performance: A case study of Tesco`
Introduction
The importance of a marketing strategy is that it determines how you communicate your worth to
others. This provides company with a unified brand image in the marketplace and the assurance
that your company will be correctly portrayed in all aspects of sales and marketing. Users radiate
signs of insecurity when you have a firm knowledge of who you are and how to communicate
about the business (Alon and et.al., 2020). When business know who potential client is and how
you can help them, you can devote your time, attention, and resources to addressing them. Your
company will appear more respectable since it will have a marketing strategy in place. Every job
you perform, every move you take, with marketing technique, leads to aiding your consumers
solve their problems. While providing you with a defined route to pursue and a succinct means
of expressing your value to others, marketing strategy helps you create brand loyalty and long-
term consumers. In this report, chosen company is Tesco which was started in the year 1919 by
Jack Cohen.
Background to the Project
Aim and Objectives
`The impact of Marketing strategies on Sales performance: A case study of Tesco`
Objectives
To understand different types of marketing strategies
To analyse importance of marketing strategies to improve sales performance
To evaluate marketing strategies used by Tesco for enhancement of sales performance
Literature Review – consider the research findings on company chosen topic linked to company
research objectives
Literature review is the systematic process that helps investigator in identification of gaps
in previous study. Literature review is based on secondary data and for collecting secondary
information, there is requirement of different sources i.e. books, articles, magazines etc. This
section of research project facilitate researcher in addressing of each objectives of study.
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To understand different types of marketing strategies
From the views of Burt and et.al, (2021), one of the most popular and efficient forms of
marketing tactics is social media marketing. This equates to around 37% of the planet's
population. This enormous number comprises people of all ages. Children as young as ten years
old have begun to use social media on a daily basis. Professional social media networks exist as
well, the most prominent of which being LinkedIn. Due to the casual nature of the internet,
LinkedIn is ideal for assisting businesses in forming long-term partnerships. Social media
generally refers to a variety of places for people socialize and engage with one another. Content
marketing is a marketing approach that entails generating content in order to attract potential
consumers and achieve company marketing and commercial objectives.
To analyse importance of marketing strategies to improve sales performance
It is evaluated from the viewpoint of Cheng, Lyu and Zhang (2020), Marketing strategies
are intended to help sales, not just to generate them. This is due to the fact that not every
potential customer or organization in company market segment is a suitable fit for company
organization. For a firm with existing in-house sales and marketing activities, business
development congruence differs greatly than for a corporation with really no advertising
department at all or for a corporation with salespeople scattered across many geographies.
Company target audience will get more aware with company brand as a result of content
marketing, and leads will be closer to becoming consumers. To attract target users, the majority
of company material will be available for free online. In converts prospect into buyers, you may
need informa identities to access specific protracted material.
To evaluate marketing strategies used by Tesco for enhancement of sales performance
sTesco has opened a new store in order to boost sales. In 2010, the firm launched 195 new
outlets and has plans to add more in the near future. Tesco's convenient model (Tesco Express)
has seen especially strong development, with over 140 new outlets. This year alone, the firm has
opened over 400 new outlets and got great response from its customers. From there, it
determined which items were suffering the most from consumer drop-offs in demand and which
were performing just fine. With this information, Tesco was able to devise new packaging
designs and branding campaigns for items in need of assistance. Many of these new rebranding
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