Marketing Concepts and Strategies of Tesco: A Comprehensive Analysis

UNIT 2

TABLE OF CONTENTS
INTRODUCTION................................................................................................................................3
PART 1..................................................................................................................................................3
1. An explanation of the concept/definition of marketing in the 21st century.................................3
2. Description of the role of marketing function with examples from the chosen organization......3
3. An analysis of how the marketing function works and interacts with other departments............4
4. An explanation of the extended marketing mix and examples from selected supermarket.........5
5. An evaluation of how the marketing mix of Tesco contributes to its success in meeting overall
business objectives...........................................................................................................................5
6. Recommendations........................................................................................................................7
PART 2..................................................................................................................................................7
Strategic marketing plan link with company’s mission, corporate strategy and objectives.............7
SMART Marketing objectives of Tesco...........................................................................................7
Marketing research to support new product launch..........................................................................8
Competitor analysis........................................................................................................................10
Setting of an overall marketing budget, including allocation of planned spend............................11
Tactical actions...............................................................................................................................11
Identifying appropriate control and monitoring measures to ensure achievement of objectives
including metrics to measure success.............................................................................................12
A comprehensive media plan that supports the planned marketing campaign, this will include:..12
CONCLUSION..................................................................................................................................13
REFERENCES...................................................................................................................................14

INTRODUCTION
Marketing is the systematic process with which companies world over promote their goods
and services. The structure of marketing entails several functions of marketing a product and its
interactions with other departments such as HR, sales, etc. The following report will precisely
discuss and analyze these marketing concepts in the context of the supermarket chain Tesco plc
which is based in UK with product ranges of food, clothing, and retai homely goods. The report
below will explain the role of marketing and the way it inter-relates with other business functions. It
will examine the marketing mix structure followed by a marketing plan of Tesco outlining its goals
which will be further supported by a media plan (Stevens and et.al., 2021).
PART 1
1. An explanation of the concept/definition of marketing in the 21st century
Marketing can be traditionally defined as a regulatory organizational function that is a vital
branch of any business organization to deliver value to its customers. A fully manufactured,
processed, and updated product is of no use until and unless it is properly marketed to the well-
defined customer segment and in well established products. The concept of marketing and its
definition has surely changed in the evolutionary modern era of the 21st century. In this century,
marketing consists of everything that is involved in creating the best consumer experience. In this
process of business function, products are not only marketed but also tailored as per the shifting
needs and perspectives of the end users. It also includes set process structures of satidafying the key
stakeholders of a company and striking good relationship among customers, management,

producers, and suppliers. The modern era has introduced several other technical elements like
automated devices that makes marketing easier and faster (Fuciu and Dumitrescu, 2018, June).
2. Description of the role of marketing function with examples from the chosen organization
The role of marketing function in an orgnization is to help facilitate the identification of
potentially successful product lines and help in sourcing and categorizing them according to
different customers' needs and requirements. For instance, in the organizational structure of the
retail supermarket Tesco, its business marketing function plays the role of promoting varied
products through broad differentiation strategy to gain the competitive factor (Sarkum and
SYAMSURI, 2021).
Functional roles of Tesco's marketing
Tesco's marketing strategy has introduced its conduct of business across cultures and
countries. The retail organization's marketing plan has been effectively adapted and standardized by
its management personnel and marketers in both the domestic and international business
environments through a comprehensive integration of global and local market factors. Tesco's
various marketing strategies are efficiently orienting its local and global businesses with customer
knowledge as compared to its market rivals.
The purpose of marketing is to research and analyze the ideal customer wants by sending
surveys and follow up timely their need to fulfil customer wants. The marketing function that Tesco
has applied to its retail organizational structure has helped in identifying its appropriate market
segments and target audience in order to strengthen its branding strategy.
Over the years, with the help of the local marketing approach in the global expansion area,
Tesco has launched extensive Euro-centric programs using foreign market strategies that has
registered gradual reductions in growth slippages.
3. An analysis of how the marketing function works and interacts with other departments
Organizational functions include a lot of business functions and marketing makes up an
integral part of it. However the function of marketing interacts with other business departments too
as is described below:
Operations management (OM) deals with the business administration functions for the
smooth and efficient working of an organization. It is primarily concerned with activities like
inventory checks, quality assurance, etc. Marketers need to be updated with the product flow
informaion that this business function provides.