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Report on Marketing Concepts of Tesco

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Added on  2020-06-05

Report on Marketing Concepts of Tesco

   Added on 2020-06-05

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Report on MarketingConcepts of Tesco
Report on Marketing Concepts of Tesco_1
Table of ContentsINTRODUCTION...........................................................................................................................11. Marketing concepts and key terminologies of Tesco.........................................................12. Consumers buying decisions in various conditions............................................................2CONCLUSION................................................................................................................................3Part 2 Presentation...........................................................................................................................5REFERENCES................................................................................................................................9
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INTRODUCTIONMarketing concept is the strategy that every organisation applies to analyse therequirements of the consumers and make decisions to satisfy those requirements. Tesco is Britishmultinational grocery and retailer company whose headquarters are located in Welwyn Gardencity, Hertfordshire, England, United Kingdom. It is grocery market leader with market share ofaround 28.4% (Claiborne and Sirgy, 2015). It sells 40,000 food products, clothing and other non-food items in its superstore. This report primarily focuses on key terminology and marketingconcepts of Tesco. Further, it includes consumers buying decisions both locally andinternationally. 1. Marketing concepts and key terminologies of TescoTesco is world’s leading company and therefore has adopted various marketing conceptsto satisfy its customers. Marketing strategy of Tesco involves analysis of market, examination ofproduct to sell at what price. It also gives idea to the company about the customers, relating totheir fashion, demand, season, sizing etc. The organisation has made marketing concept to regainthe trust of stakeholders to the product (Dinnie, 2015). There are mainly five marketing conceptsused by Tesco.1.Production concept: Tesco has several stores in 12 countries and believes that goodsand services must be available at many places with lower cost which help them to selltheir products with high quantity. In order to make product cheap the company has madeevery possible effort to increase their production. The utility of this thing increases whenproduct demand exceeds.2.Product concept: Tesco believes in giving effective quality of products and services totheir customers. It believes that customers will automatically get attracted towards theirbrand if they are of good quality (Samiksha, 2016). Therefore, the company focuses onincreasing the quality of products so that customers can buy their product in largequantity. 3.Selling concept: The main philosophy of the company is that goods are not bought butthey have to be sold. The company is putting more efforts so that customers will beattracted towards them. This concept gives the idea that repeated efforts can sell1
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