Strategic Marketing Analysis of Tesco: Market Size, Competitor Analysis, STP Analysis, and RACE Model Framework

Strategic Marketing

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Market analysis of Tesco.............................................................................................................1
Campaign strategy ......................................................................................................................5
Implementation of strategy in marketing mix of Tesco and RACE model framework...............6
Marketing roll- out plan...............................................................................................................7
Budget assumptions of campaign................................................................................................7
Key performance indicators ........................................................................................................8
Recommendations on how Tesco can continue to engage its customers through digital
channels........................................................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Strategic marketing can be defined as techniques which use varied disciplines in attaining
organisational goals and gaining sustainable competitive advantage (Beirman, 2020). It is
essential for organisations to boost their sales and attract potential customers. It aids
establishments in using their available resources in optimizing manner so that they can
influences target audience. In order to better understand strategic marketing management, Tesco
company is taken. Tesco is a UK based multinational retail sector company which deals in
groceries and merchandising. Company is founded in 1919 and has its headquarter at Welwyn
City Garden, United Kingdom.
This project comprises of market size, stakeholder and competitors analysis to better
understand how to plan promotional campaign strategy. This project also encompasses
framework to plan digital campaign. It also consists of recommendations on how organisations
can continue their digital channels.
MAIN BODY
Market analysis of Tesco
Market size
This can be described as number of potential consumers that an organisation can
influence to purchase their products or avail their services (Brooksbank Subhan and Miller,
2018). Determination of market size is significant for businesses to plan their marketing
approaches in relation to target market. Market size of Tesco is very huge. It expanded its
business globally and has large number of stores in UK and other European countries. It has
acquired over 25 % of market share in UK retail industry.
Competitor analysis of Tesco
Competitor analysis is a process of identifying competitive rivalry in market by gaining
insights into their marketing and pricing strategies of their products or services (Campbell, Lowe
and Reeher, 2021). It helps the mangers of Tesco in assessing their competitor's strategy as well
as refine theirs to gain competitive advantage. Major competitors of Tesco are Sainsbury, Asda
and Morrisons. Competitor analysis of Tesco is as follows:
1