This presentation discusses the importance of strategic marketing for organisations with a case study on Tesco. It covers market size, competitor analysis, macro and micro economic factors, customer analysis, stakeholder analysis, and more.
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Strategic Marketing
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Introduction Strategic management assist organisations in setting their objectives and analyse their procedures which help them in competing in better manner. The internal structure of an organisation is identified and strategies are formulated in order to overcome difficulties. This report is based on Tesco which is founded in 1919 by Jack Cohen and headquartered in London, UK.
Market Size Tesco have covered large market area and have their stores in five countries of Europe. They are one of the leading organisation in the retail sector which provide higher quality of product and services to their customers. Over all twenty seven percent of market share of United Kingdom is effectively acquired by them.
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Competitor Analysis Porter's five forces is a framework which is used by organisations in order to identify the competition level in their respective market place. Tesco have used porter's five forces which is discussed below: Competition in the industry: Supplier power: Buyer’s power: Threat of substitute: Threat of new entry:
Macro and Micro economic factors affecting organization StrengthsWeaknesses The biggest strength of Tesco is that they are financially very strong and have covered large market area in different countries. They deal in variety of products which attract large number of customers on regular basis. They majorly dependent on the manual operations for mostoftheoperationswhichdelaysinvarious functions. Tesco sell their products on less margin in order to compete with other organisations which results in lower profits. OpportunitiesThreats Tesco can expand their operations in different countries which results in growth and expansion. They can use different technological advancements in their operations which improves their profitability. The emerging competition becomes greatest threat for Tesco which lower down their revenue generation . Changesintasteandpreferencesofcustomerson regular basis is threat for Tesco.
Continue PESTLE ANALYSIS Political factors:Tesco follows all the rules and regulations which are formulated by government. It helps them in eliminating risk and threats which results in smooth operations. Economic factors:Tesco set the prices of their products and services according to the economic condition of the country so that they can satisfy the needs of their targeted audience.
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Customer Analysis Customer analysis refers to the collection of data related to the behaviour of customers so that organisation can satisfy their demands. Tesco focus on the requirements of the customers so that they can provide them customized services. It helps them in establishing positive brand image in market by offering required products and services.
Stakeholder Analysis Tesco performs stakeholder analysis which includes different factors. Those factors are mentioned below: High interest, high power: High power, Low interest: Low power, High interest: Low power, low interest:
Conclusion From the above presentation it can be concluded that strategic marketing is important for every organisation. It ensures that all the activities in an organisation are carried out in proper manner so that goals can be achieved.
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