Marketing Process and Mix in Tesco: Economic Factors and Business Challenges

Business Environment

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK...............................................................................................................................................3
A knowledge and understanding of the marketing process in the contemporary business
context in regards to Tesco.........................................................................................................3
Understanding of the concept of marketing mix and how this is employed when developing a
new product/service ...................................................................................................................5
Economic factors affects Tesco Plc............................................................................................7
Businesses facing challenges in the economy.............................................................................8
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Activities an organisation is required to do to promote the buying or selling of a product
or service are known as marketing. It includes advertisement, delivering and selling products to
consumers. The chosen organisation for this report is Tesco which is a UK multinational
supermarket retailer chain dealing in food, domestic and general goods and has head office in
Welwyn Garden City, England (Betti and Sarens, 2020). This report included a brief discussion
on study conducted to evaluate the marketing process in the current enterprise context, concept
of marketing mix, investigating influence of economic factors on business activities &
challenges facing business in a global economy in regards to Tesco.
TASK
An evaluation of process in the present-day enterprise context in reference to Tesco.
Marketing operations involves whole process from the identification of demands to customer's
satisfaction. In this process, the seller tries to achieve customer satisfaction by offering value to
them. It is defined as the process by which businesses produce valuable goods for consumers and
gain monetary value from buyers in exchange by construction of strong client
relationships(Contractor and et.al., 2020).
The marketing process is divided into five stages.
 Understanding the market and the customer needs and wants
 Develop a basic marketing strategy and integrated program delivering superior values
 Execution of plan
 Building profitable relationships
 Capturing value from customers
Tesco marketing process comprises the following elements:
 Marketplace and environment analysis: There are strategic models to conduct this
analysis which consists of analysis like SWOT and PESTLE, five forces model of
Michael Porter and others.
 Identification of advertising and marketing goal: Particular section of population in the
UK and different international locations in which the supermarkets of the organisation
operate is targeted by Tesco.

 Setting objectives: Maximization of ROI in short term as well as long term orientation &
increase in brand value are marketing objectives of TESCO (Gaganis and Voulgari,
2019). Marketing goals of Tesco are intently related to their enterprise approach which
encompass the following seven factors:
1. to be developing the UK core
2. growing worldwide presence by online and offline channels
3. developing retail offerings in existing markets
4. awareness on CSR
5. improving value of brand
6. accomplishing extra diversification
7. growing value via teamwork
 Dealing with marketing mix elements: The significance of dealing with each factor of
marketing mix contemplating needs, desires and different particular traits of target
section is absolutely understood through the management of Tesco.
 Reflection, manipulation & revision: It is a factor of marketing activity which is utilised
by marketers of Tesco in a frequent way so as they can check effectiveness level of
marketing approach and viable some factors used in this approach because of changes in
internal or external environment.
Marketing orientation of TESCO plays an important role in achieving their centre mission that is
maximization of profit. Connection among Tesco's competitive advantage and their marketing
orientation is powerful.