This report identifies the Tesco company revamping the marketing strategies for their fashion clothing line. It includes a brief description of the fashion clothing line of Tesco, competitive environment, and recommendations for improving branding and enhancing image and reputation in the market.
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TABLE OF CONTENT INTRODUCTION...........................................................................................................................3 MAIN BODY...................................................................................................................................3 Brief description of the fashion clothing line of Tesco................................................................3 Competitive environment of the Tesco........................................................................................4 Recommendation.........................................................................................................................6 Study marketing mix of product and provide justified recommendation....................................6 Evaluation how organization can improve branding and enhance image and reputation in the market:.........................................................................................................................................8 CONCLUSION................................................................................................................................9 REFERENCES..............................................................................................................................11
INTRODUCTION Marketing management is a process which determine the planning, promotion, and ideas in order to gain the efficiency, and goods and services for change and advancement of the organization. Marketing management identify the discipline, value, focus and techniques by which organization can achieve their goals and objective. The marketing plan which include in this report identify about the marketing efforts and management for the upcoming period and projects. The report includes the information about the marketing plan which identify the Tesco company revamping the marketing strategies. To identify the marketing plan of the fashion clothing in the organization.The company deals in a fashion clothing for different age groups; women, men, kids which further categorize into different type of variety product. By measuring the elements which is of marketing mix of the organization.As nowadays the competition is increases and therefore the organization has to be in the competitive environment. By which it determines the systematic business. Marketing innovation through various channels in order to gain maximize profit by advertising the product that organization have. The Tesco is British company who deals in a various range of products and has diverse business across the globe. This report includes the information to enhance the market strategy of the organization in order to enhance their stability. MAIN BODY. Brief description of the fashion clothing line of Tesco Tesco is a leading multinational retailer British based company. Company aim to serve customer with their affordable, healthy and sustainable product. Tesco operates in an 11 different countries. As the company try to expand their business more by enhancing their ability and manage their operation. The best part about the company is they are the first European grocery company and store chain which includes various range of products. The company deals in a fashion clothing and try to give their best collection to their customer. Tesco has approximately 670 stores across the globe. Due to the recent pandemic COVID-19 the company extended their return policy to approx 100 days (The home of fashion inspiration,2021). The COVID-19 bring a scary atmosphere among the customer in order to visit the stores for the shopping that's why majority of the people prefer to buy online. Therefore, the organization may experience some delay and stock availability because of the COVID-19, and they try to improve this factor by
enhancing their online application. Company should strategy in order to revamp the fashion clothing line. It is important for company to manage the fashion clothing better and evolve because of the changing environment. Company wants to revamp the fashion clothing to enhance the product portfolio. To consider the vertical integration organization revamp the apparel business. Organization also try to improve the customer service in order to improve the sale of thefashionclothingofcompany.Withthisorganizationtrytoenhancetheiremployee engagement in order to enhance and make the business more profitability. Since the COVID-19 arrived organization faces a major fall in this sector and now, they want to enhance and make the organization better. Now organization trying to improve this sector by sustainability product to achieve the success and make recognition in the customer they targeted for. The fashion clothing sector of the organization need advancement according to the trends and changes as per the changing environment of the people and targeted customer of the organization in order to gain the more profit and revenue. The fashion clothing of Tesco determine the pest and competitive environment which enables the aspects of the organization and manage accordingly to improve and revamp by marketing mix. The product improvement and place was according to the COVID-19 arrive. Therefore, company has to enable the online application to enhance the fashion clothing in the industry. Competitive environment of the Tesco Competitiveenvironmentisexternalsystemoftheorganizationwhichdetermine competitive environment and function of the organization. This identifies factor that more sellers of the same type of product sell product. More competition is increases in particular sector and thecompetitiveorganizationenvironmenthastwotypeofcompetitorssuchas,direct competitors of the company for example; Tesco direct competitor is Mark and Spencer in the clothing line. Indirect competitor of the Tesco identifies the indirect competitor of organization by which they get affect their activity in indirect manner. For example; Sainsbury's is an indirect competitor of the organization. Sainsbury is known as 2ndbest retailer company in the UK to compete with the Tesco (Adams, Freitas,and Fontana, 2019). AsTesco is one of the largest retail industry in the globe who deals in various range of product which enhance and make the recognition in the market. For analysing the competitive environment PEST analysation is essential in order to gain and identify the tools of the competitive environment. PEST ANALYSIS
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Political factor:Political factor of the organization determine the external factor by which the organizationanalysesthepoliticalaspectsbecause,Tesco operatesin avariouscountry. Company operates in a various region of the world they have to keep tab on the changing political environment in every (circumstances). For better performance and maintain the political stability of the country. This factor also give company opportunity to better perform in order to impose the new tax or duty structure which include the trade tariffs and make the better relation with the government of the region where they establish in order to maintain and enhance the standard of the organization (Adamyk, 2019). Majorly, the election indicates the period of uncertainty that country deals with and diverging views on the economic policy. Economic factor:the economic factor in the organization affect the monetary funds and sales , revenue. As the company deals in a range of product in which the clothing product is also one of the product line which organization deals in a wide range and therefore, the economic factor of each country is different. Company should implement the policy and procedure according to the market and consumer of the particular region where they are established their business and manage accordingly. This might a threat for the organization but Tesco manage to make this factor opportunity for better performance and implement the policies. For example; rise in the inflation rate and as the business of the company growing internationally, but they are still depended on the country market. Economic outlook determine the extreme business performance and management to betterment of the company. Social factor:Nowadays, people prefer to buy everything in a one time specially in the clothing items. The organization made product according to their customer preferences and demands of influence in order to gain the product. Which organization deals according to their customer base and Tesco managed to shift their customer base and behaviour towards the organization. Customer believe the company because of their brand image in the market. Social factor can become the opportunity for the Tesco to enhance the capability and make them better connection with the customers (Pavliuk,and Noda,2020). Social factor including the population growth rates, age distribution as the company deals in the fashion clothing for different type of age groups and manage the social factor accordingly. Technological factor:Technology factor of the organization determine the factors which needed in recent times because of the advancement in technology. Tesco pair up with various online application as well as they also made their own in order to sell their clothing product online. To
gain more profit and advancement for the betterment of the company and enhance the consumer attention towards them. Technology is also an opportunity to enhance the productivity and profitability of the organization and overcome with the threat by their competitors. For the Better performance of the technology this identifies the R&D activity which helps the organization in better advancement and manage the rate change in the technology. Recommendation Recommendation marketing include the customer experience, wide range of product. Company should implement the word of mouth publicity to their customer by giving them better customer experience. Company adopted digital marketing for their fashion clothing product in order to enhance their productivity and create better advancement. With the help of cross functional program and activity conducted in the organization they can enhance the productivity. Tesco vision is clear in order to gain the profitability therefore, they should enhance the stability and improve in their practices. As the marketing mix is an essential tool and effective strategy in this. Through this organization get to know about the set of controllable, desired of the company to influence the demand of the consumer in order to strategic the planning and execution of the revamping of the clothing line by applying the marketing mix. The most successful brand also get to improve their brand by promote their product and compete with their competitor. Study marketing mix of product and provide justified recommendation The 4P's of marketing mix product line of fashion brand of Tesco, is making revamping of product that helps in raising organization productivity and efficiency (Karim and et.al, 2021). By innovating products helps in enhancing brand value of Tesco through determining elements of marketing mix. Through emphasizing this strategy helps in making products efficient and boost organization productivity by working in respective manner. These are; Product strategy- In responds to organization, by revamping of fashion product of Tesco through establishing it into new manner. By providing better products through offers goods at several stores expands organization profitability through developing fashion brand of products. Through providing varieties of products in relevance to fashion brand helps in attracting customers towards organization (Issock, Mpinganjira and Roberts-Lombard, 2021). The business revamped fashion clothing products by using different tools to make it innovative helps in making better and approachable product. As this helps in raising organization productivity and profitability through developing products in innovative manner.
Pricing strategy- In regard to organization, it helps in facilitating productive role through revamping of fashion clothing products of Tesco by providing affordable price to customers. This helps in raising organization productivity and raises business production by maintaining quality of products. By this satisfies needs and wants of consumer by attracting them towards product of Tesco by lowering price of revamped product that helps in making sustainability growth of business. Through providing products at affordable price consumer can easily purchase products that satisfies their needs and desires in effective manner. It helps in raising organization performance by attaining more customers towards Tesco that build reputation of organization (Abedian and et.al, 2021). As consumer satisfied with price and arrive to purchase products of business according to their needs and desires. Place and distribution strategy- In terms of organization, the revamped of fashion clothing products by providing these products at huge number of places. This strategy of place helps in raising organization productivity and efficiency in desired manner. By expanding place of products boost organization performance and helps in achieving desired goals of organization respectively. To provide products at various places, consumers get easily goods according to their needs without facing any inconvenience. It helps in emphasizing sustainability growth of organization by distributing of products on different sectors. Through this raising organization performance and enhance sector of business that builds Tesco reputation in market. This helps in raising organization performance and boost their productivity by providing products at various sector in marketplace of business. Promotion- In order to organization, by emphasizing promoting strategy under business through promotesrevampedfashionclothingproductondifferentchannelsofmedium.Suchas promotingonmagazines,socialsitesetc.thathelpsingainingsustainabilitygrowthof organization by working in respective manner (Lim, 2021). Through promoting products of Tesco on various platforms helps in expanding organization profitability by attracting more and more customers towards Tesco. So, by promoting revamped products of fashion brand boost organization performance and helps in raising their productivity in respective manner. Evaluation how organization can improve branding and enhance image and reputation in the market: Branding is one of the most important part in the business, without branding business can not increase their reputation and product sales. Every business have their own style of branding,
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they use various strategies to improve their branding, branding fuel the speed of business which allow them to be effective in the market (Swaminathan and et.al, 2020). Many retail giant have their own strategies to target audience in the market and improve brand image, Tesco one of the largest retail company use various methods to improve their branding, these methods may include such as: Visual identity:it is very important for business to be visual represented in front of target audience which means business may try to appear more in the eye of people, this way they can improve their branding. When a business wish to reach as many people as possible as they have to improve their brand which help them stand alone in the crowd. For today's modern business, they need to focus more on online appearance as audience always stay active on various online platform. Tesco always focus on 'visual check' where they mainly invest in appearing more online, become online is not only the process business need to check the content which greatly impact the performance of branding. Tesco need to show the value of its product through visual presentation and need to create visual identity for the product and service. Unique value:creating a unique value can be one of way of improving branding of the business organization, unique value means the key valuable points of the company which have ability to attract customer towards the brand. When business focus on showing the unique value of its product to the target audience then they have greater chances to convert audience into customer. There are various ways to improve branding of the business organization but showing the unique value is one of the best method which can be used by the company. Tesco have wide range of products which means they have unique value which allow them to attract customer. This company can improve their branding by promoting the uniqueness which they have in their products and services. Tesco need to show the value of its product and service to the target audience and enhance the reputation with right branding strategy that can win the customer in target market. Promotional event:event greatly impact branding of the business, when business focus on improvement of branding then they have to create various event which promote the benefit and true value of event is been promoted. Tesco organize various event to increase their brand image in the market, they focus more on high promotion which create a great impact for the company (Kasapi and Cela, 2017). Although Promotional event are very costly and required more of the budget, many business try to avoid promotional event but this can be one of the best way to
improve the branding of the company. Promotional event help company to show the benefits of the product and service to the target audience. More budget:when the business have budget then they can improve their branding, sometimes branding and improvement process fail because of insufficient budget. It is very clear that brand need budget to improve their branding, Tesco do not have insufficient budget to fund their branding strategy they can put more budget in the advertising and promotion of the product. Branding help company to increase the product value, these value can be promoted with the help of more budget in the marketing process. Brand positioning Brand positioning is one of the most important part for business organization, this means providing clear understanding to the customer about the brand and its value. Brand positioning process require company to define the brand and its feature in the target market (Ruiz-Real, Uribe-Toril and Gázquez-Abad, 2020). When business organization focus on improving brand image then their positioning is automatically been improved. Tesco always focus on branding because they know right branding unlock various benefits for the company mainly increase in sales of the product and service. Branding success of Tesco allow company to position their product and service in the target market. Every branding strategy help company to increase the reputation of the product and service in the market, positioning help business to reach the right audience and sell their product to the customer in the target market. CONCLUSION The information conclude about marketing plan of the organization which is Tesco. The betterment and management of operation of the organization by which they will get profitability and recognition in the market and in among their customers by which the organization leads towards the target market. Report concludes the initiation in order to make the brand product line more recognizable in the market and through the digital marketing and by applying marketing mix in the competitive environment of the organization. By applying this organization also get to know about their values, objectives and strategies which they use in order to gain the more profit and stable management in the organization. Revampingthe clothing product line marketing strategies in the organization should be enhanced and improve the image and reputation of the organization. This report concludes that organization has to be managed and operate their
strategy which help them to make the brand and product line recognize by the people and after that company will get profit. The report marketing plan conducting through the enhancing Brand of the organization and management in order to sustain organizations and the work efficiency of the organization. The company should have to maintain the product line which they want to enhance and manage accordingly to make the recognition in the market.
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REFERENCES Books and Journals Chen, H., 2021, September. Discussion on New Marketing Mode Based on Collaborative Recommendation Algorithm in Big Data Era. In2021 4th International Conference on Information Systems and Computer Aided Education(pp. 454-457). Adams, P., Freitas, I.M.B. and Fontana, R., 2019. Strategic orientation, innovation performance andthemoderatinginfluenceofmarketingmanagement.JournalofBusiness Research.97. pp.129-140. Adamyk, K., 2019. PESTLE Analysis on Tesco PLC. Pavliuk, T. and Noda, V., 2020. Analysis of competitiveness and competitive advantages in today's market conditions. Management and Entrepreneurship: Trends of Development. 2(12). pp.91-104. Swaminathan and et.al, 2020. Branding in a hyperconnected world: Refocusing theories and rethinking boundaries.Journal of Marketing.84(2). pp.24-46. Kasapi,I.andCela,A.,2017.Destinationbranding:Areviewofthecitybranding literature.Mediterranean Journal of Social Sciences.8(4). p.129. Ruiz-Real,J.L.,Uribe-Toril,J.andGázquez-Abad,J.C.,2020.Destinationbranding: Opportunitiesandnewchallenges.JournalofDestinationMarketing& Management.17. p.100453. Online The home of fashion inspiration,2021. [Online]. Available through; < https://www.tesco.com/zones/clothing>