Assignment Strategy and the Global Competitive Environment : Tesco PLC

Added on - 21 Apr 2020

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Running head: STRATEGY & GLOBAL COMPETITIVENESSStrategy and the Global Competitive Environment: Tesco PLCName of Student:Student ID:Name of University:Author’s Note:
1STRATEGY & GLOBAL COMPETITIVENESSAbstract:This report has taken into account the business and corporate strategies of Tesco PLC, a Britishsupermarket chain that is quite popular across the globe, operating in approximately 14countries. The company has been using the strategy of fewer prices on its products withoutcompromising on the factor of quality. Various models and frameworks like Ansoff and BCGmatrix has been used in this paper to assess the strategies that are presently in use u the companyalong with the ones that can be used by the them in near future for gaining the competitiveadvantage. Product development, market penetration along with the generic strategies and 4Pshas been evaluated in this report for better understanding of the intended report on Tesco.
2STRATEGY & GLOBAL COMPETITIVENESSTable of ContentsIntroduction:....................................................................................................................................41. Current Strategies of Retail Industry and Tesco:.........................................................................5Ansoff Matrix:.............................................................................................................................8Market Development:..............................................................................................................9Development of Product:.........................................................................................................9Product Diversification:...........................................................................................................92. Tesco’s Business Strategy:........................................................................................................10Business Penetration:.................................................................................................................10Generic Strategies of Tesco:......................................................................................................104P’s of Tesco:............................................................................................................................12Product:..................................................................................................................................12Product Life Cycle:................................................................................................................12Price:......................................................................................................................................14Place:......................................................................................................................................14Promotions:............................................................................................................................15
3STRATEGY & GLOBAL COMPETITIVENESS3.....................................................................................................................................................15Recommendations:................................................................................................................15References:....................................................................................................................................17
4STRATEGY & GLOBAL COMPETITIVENESSIntroduction:The success of any business firm generally depends on the implemented strategies by theorganization and consequently the firms are in requirement of getting well updated related to thestrategies that would generally result in successful attainment of the firms. The strategyimplementation in turn is generally relied upon the indulgent of the present scenario of thestrategies that has been implemented by some other firms within the same sector or industry, byany particular firm.This paper would be taking into account Tesco PLC whose main mission has beencreating value for the customers in earning their lifetime devotion. The core reason driving theorganization in providing every possible help to the customers along with employees in buildingstrong and long-term relationship in retaining of the same (Laffy and Walters 2016). This reportwould be highlighting on the present strategies of Tesco and the frameworks that would bestdescribe the corporate and business strategies used by the company.It is important from the company’s perspective in making love documents of theseframeworks that are regularly being upgraded for reflecting on the changing nature of thebusiness (Soltanizadehbet al. 2016). When there is a shift within the strategies and modificationsin the strategic performance structure needs to be altered as well. Various frameworks andmodels would be analyzed in the given sections to better understand the strategic viewpoints ofthe company, Tesco PLC.Tesco dominates the market of UK leaving behind the competitors like Sainsbury andMorrison’s with Tesco being the first company in launching the system of self-service within itsstores in avoiding longer queues along with high time for waiting. The company gained
5STRATEGY & GLOBAL COMPETITIVENESScompetitive advantage through manufacturing and selling of its own labeled products. Thecompany has also made use of club cards in retaining their existing customers and gathering ofmore information.1. Current Strategies of Retail Industry and Tesco:The sector of retail is generally been considered to be one of the most competitive amongthe sectors of business and therefore the strategies of effective marketing is highly needed forany sort of firm in being successfully recognized among the rivals. The general procedures of theformulation of strategies within the retail industry are very much similar to that of any addedsector.It is the call for the hour for these kinds of business firms in evaluating the presentscenario methodically and adopting the novel strategies, which would be more competent andcomplex as being compared to the present strategies (Martínez-Ruiz et al. 2016). Thedevelopments could only be made through an estimation of the present strategies performed ondaily basis. The strategies that are being implemented by the retail sector are being wellhighlighted in the consequent lines.Tesco PLC is a retailing shop of multinational nature that has been founded in 1919headquartered at Hertfordshire, England. This has been the second largest firm across the globe,when being measured by profits. If firms are being measured by revenues, Tesco would stand asthe third major retailer firm. The firm is spread over 14 countries with the total number ofemployees working with them adding up to 537,784.Tesco, the retail firm, mainly takes into account two major elements that are targetmarket, including the segments of market towards which resources along with retail mix are
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