Contemporary Issues in Marketing: A Study on Tesco's Marketing Mix and Products

Contemporary Issues in
Marketing

Table of Contents
INTRODUCTION ..........................................................................................................................4
MAIN BODY...................................................................................................................................4
Define Marketing........................................................................................................................4
Define Marketing Mix:...............................................................................................................5
A brief theoretical explanation of 4Ps marketing mix................................................................5
Products and services offered by the company...........................................................................7
Application of four Ps marketing mix to the selected product and service ...............................7
CONCLUSION ...............................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Marketing refers to the set of institutions, processes for creating, activities, delivering,
communicating and exchanging offers which have value for clients, customers, society and
partners at large scale. Marketing is very important from the organisational point of view and
without marketing it is difficult to create a very strong brand image into the market. In the
present report, TESCO is taken into consideration(Chen and House., 2021). It is a British
multinational merchandise retailer which is headquartered in Welwyn Garden City, England. It is
a famous merchandise retailer into the UK market. The present report will cover discussion
about marketing, marketing mix and four Ps of marketing mix as well. In addition to this , the
present report will cover analysis about products and services offered by the company for their
customers. Moreover, the report will cover discussion about application of marketing mix to the
particular products and services.
MAIN BODY
Define Marketing
It is a set of business plan of promoting and selling of goods and services in the market to
attain profit and increase market share as it is one of the key aspect of business. The company
uses different marketing strategies to attract new customers by innovative advertisements, sales
promotion etc. By the help of marketing it raises brand awareness by selling good quality
products and services at reasonable prices as it makes memorable to customers who become
loyal clients, trust brand and tell sources about the company. The main purpose of marketing is
to analyse and research consumer buying habits, taking feedback, send out surveys,
communicate with customers about their needs and wants. There are different marketing
strategies available by which a company can increases its profitability and brand image
effectively and efficiently (Brudvig, Brusco and Cradit, 2019). It can be done by good and
strong marketing plan so that it can reach to its goals.
Through mobile and e-mail marketing as it is a broad concept which bring customers
together by marketing campaigns etc. Viral marketing is also a great phenomenon as it spread
fast from one person to another which is time effective process. Marketing covers vast areas such
as the design, the brand, market research, pricing, consumer psychology which helps the
company in long run.

There are some disadvantages also of marketing as it is costly method for small
organisation to sell its goods and services. The return on investment may be low in small
companies as compared to big brands as they have less resources.
Define Marketing Mix:
It is a set of actions which combines a number of components in order to sell its goods
and services effectively in the market to earn maximum profit. Its objective is to sell the products
at the right time with right price. It consist of seven Ps in marketing mix which are product,
price, place, promotion, people, physical evidence and process with the help of these it make it
easier to sell product in the market effectively and efficiently by optimum utilisation of resources
(Khoshtaria, Datuashvili, and Matin, 2020). All products are classified into 3 main categories
which are tangible, intangible products and service. In context to Tesco, it is one of the leading
retail store in the world and has wide range of products available at cheapest rates to its
customers. The 7 Ps of marketing mix is an effective tool for Tesco to sell its product and can
enhance its brand value in the market (Sheth and Parvatiyar, 2021). It provides attractive offers
like buy one get one free offer, half price discount offer, cashback etc. to its consumers which
influence them to buy products.
An organisation uses their strengths to avoid unnecessary expenses and cost. Marketing
mix can be developed by identifying goal and set budget accordingly. It is important to
understand competitors and their different strategies so that a company can make it more unique
and approachable to its customers. For any small organisation it is time consuming and costly
method as they involve small amount of capital as compared to big organisations.
A brief theoretical explanation of 4Ps marketing mix
Marketing mix is a crucial tool that is used to get competitive advantage in market place. It
includes various set of actions, tactics which are implemented to promote a product or service.
Basically, marketing mix is a combination of different elements like product, price, place and
promotion. The main aim of marketing mix is to enhance the brand image of the organization. It
helps in increasing competitive advantage of the organization (Warrink, 2018). In context of
TESCO, it is a well-known organization that offers various food and non-food products. They
also offer the products at reasonable price with an aim to enhance the living standard of the
individuals profoundly.