Marketing Management for Tesco - Assignment
Added on 2021-01-01
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Table of ContentsExecutive Summary ........................................................................................................................2INTRODUCTION...........................................................................................................................3Task 1 –Background statement to outline the industry....................................................................3Task 2 – Marketing audit, outlining the overall market attractiveness............................................4Task 3 - Competitor analysis of the three main industry players....................................................7Task 4 -Marketing mix actions to achieve gaps between the company’s present marketingstrategy and external environment.................................................................................................10CONCLUSION..............................................................................................................................13REFERENCES .............................................................................................................................14
Executive Summary In this assignment, marketing management is the main subject for which Tesco has beenselected. In this regard, business functions and environment have been focused and analyzed.Additionally, the competitive analysis has been done in order to identify major competitivecomponents in the market for the firm. Marketing mix for an organization is also included in thisreport. The report also presented a brief description of Tesco's marketing strategies as well asstrategies used by its competitors.
INTRODUCTIONManagement of marketing functions and activities is the most important part in everybusiness or organization. In order to increase the profitability and performance of business, it isessential to use effective marketing strategies. The present report is on Tesco, a leading brand in UK. It will identify the marketpositioning of an organization in the market. A brief marketing audit for identifying marketattractiveness will be also determined here. The assignment will also include competitor analysisof three main players in the same industry. Furthermore, this report also includes a newmarketing mix in order to achieve gaps between Tesco's present marketing strategy and externalenvironment. Task 1 –Background statement to outline the industryTesco is a retailing company in the food industry; it is one of the biggest food retailers ofthe world. The company has around 325000 employees working in about 2500 stores in differentcountries. The largest marketplace for this organization is United Kingdom. The company issuccessfully working under four diverse banners within UK which are – Superstore, Metro, Extraand Express. Tesco is operating its business in more than 14 nations across the world. It isknown as the third largest retailer in terms of revenue all around the world and second largestwith respect to profitability. It has also a petrol retailer and currently is one of the leading petrolretailers in UK (Yang and et.al, 2017).Tesco introduced food stores in the year 1924 by Jack Cohen in the year 1920 atHertfordshire, UK. and presently known as the biggest food retailer of United Kingdom with aworkforce of 200000 employees in their organization. Tesco focuses on sustainable growth andoffers effective products and services to its customers in order to increase their satisfaction level. It has 5380 stores in various countries in the world. The net income of Tesco is more than2.67 billion per year as well as operating income is over 3.81 million. It mainly deals inconsumer products, financial products and services as well as grocery stores. In UnitedKingdom, Tesco can be called as a Global leader in the retail business. Its mission is to developvalue for customers who are utilizing their services and products to retain their loyalty. On theother hand, Tesco's vision is to be the highest profitable firm for customers who uses theirproducts and services, their stakeholders, staff and shareholders.
Task 2 – Marketing audit, outlining the overall market attractivenessIntroduction to Tesco: Tesco is one of the popular brand of retail business in UK. Theyconsider vital part in the market to create subjective outcomes. What's more, they are likewisecenters around Metro and Express with the goal that deals and sustenance of merchandisepresented in excess of 40000 grocery stores. The organization bargains in garments and othersort of non nourishment lines Retailing administrations in the UK incorporates with speculationand viable working. The organization deliver their activities and capacities in various regions ofthe world, for example, Europe, Ireland, Poland, and so forth. Thus, it is global retailer whichcreate to make successful working in the organization. In spite of the fact that, in the UK theorganization consider worldwide basic supply and general marketing chain which utilizing for440000 staff individuals in everywhere throughout the world. Exchange to Tesco brand and division: The picked organization offering their capacities andtasks in more territories of the world. The organization additionally utilizing distinctive brandsfactors which helps to keep up its market position which give hierarchical edge. With theassistance of various classifications of selection of clients in the portion. They likewise makeisolate mark which empower to settle on first decision in the portion. The organization offeringaround 19% the finest sustenance in the market. They are basically viewed as their division withsound and take into account clients who are solid cognizant. The organization likewise offeringnatural and solid sustenance items so they can manage the powerful outcomes in the nation.There is each other fragment which constitute and named to manage children and assume vitalpart in the organization. Thus, value touchy clients effortlessly address with issues of suchclients. Promoting system is viewed as the methodology that help with enabling the firm to focusits rare assets on the reasonable open doors that can bring about expanding the deals and achieveeconomical preferred standpoint over contenders. Key marketing idea is considered as the theorythat lay spotlight on the best possible assurance of the open doors related with promoting asreason for advertising arranging and development of the association like Tesco. Marketing isconsidered as the logic that outcomes in the methodology by which the firm, individual andgathering can achieve what is being required by them through assurance of the esteem, offeringand imparting it and making its conveyance to others. The center idea in connection withpromoting incorporates clients require, values, needs, items, trade, correspondences andadditionally connections. Advertising in key terms is related with the bearing and extent of
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