Importance of Sales and Marketing for Tesco: A Marketing Plan
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Added on  2023/06/18
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This report discusses the significance of sales and marketing for Tesco, a multinational retail company in the UK. It includes a formulated marketing plan for Tesco, covering SWOT analysis, marketing opportunities, and marketing mix. The report emphasizes the importance of marketing in achieving organizational goals and objectives.
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Table of Contents INTRODUCTION...........................................................................................................................3 MAIN BODY..................................................................................................................................3 Overview of the company............................................................................................................3 Marketing Plan.............................................................................................................................3 CONCLUSION................................................................................................................................7 REFRENCES...................................................................................................................................8 Book and journal..........................................................................................................................8
INTRODUCTION Marketing is the concept which builds awareness among the organization and enhance image towards the potential consumer. By converting those prospective consumers into real customers, sales convert that viewing into profit. They both are much important for the organization in order to achieve marketing opportunities and executing new sales plans so that the organization can achieve their operations goals in an appropriate manner and perform managerial duties in an effective manner(Kim and Park, 2017). This report is going to consider Tesco organization which is situated Welwyn Garden City in United Kingdom and multinational retail company in the United Kingdom. In addition to this, this report also going to formulate a marketing plan for the Tesco organization so that the organization can improve their marketing strategy. MAIN BODY Overview of the company Tesco is the British multinational grocery and general merchandising retail organization. The organization is founded in 1919 by jack Cohen. The organization is situated in Garden City London and listed on the London Stock Exchange. The organization provides variety of the products and services towards the customer in order to achieve their goals and objectives and improve their efficiency and productivity in the Marketplace. Marketing Plan Marketing plan is the concept or is operational document which highlights the advertising strategy that is adopted by the organization so that they can implement to operate and formulate leads and achieve their goals and objectives. There are several kinds of components which are included in marketing plant that is marketing investigation to support decision of pricing and new market entries(Rojuee and Rojuee, 2017). Marketing plan also support the organization to improve their marketing strategy so that they can promote their products and services in an appropriate manner and enhance their efficiency and effectiveness in the Marketplace.There are few steps of marketing plan which are adopting by the organization in order to formulate the strategies in order to achieve their goals and objective. Set marketing Goals:
The organization wants to build a value goods and services for the customer that will assist the organization to improve their efficiency and to increase their productivity for a long run. Identify internal Factors: In order to formulate marketing strategies and formulate marketing plan it is very important for the organization to analyze their internal factors which create impact on the performance of the organization(Hänninen, Smedlund and Mitronen, 2018). In order to analyze the internal factors the test for organization following SWOT analysis so that they can analyze theirstrengthsweaknessesthreatandopportunities.TheSWOTanalysisoftheTesco organization is mentioned below: STRENGTH The organization is providing variety of the product and services by using social media platform as well as their stores in outlets and it is the major strength of the organization Along with this the organization have strongperformanceduringthe pandemic and it boosting their online sales so it is become major strength of the company WEAKNESSES The organization has not appropriate inventorymanagementattheir organization so it's become weakness for the organization. Shortage of the product due to panic buying Tesco is facing these kind of problem THREAT Thecompetitionlevelinthe Marketplace is become major threat for theorganizationinordertobecome more effective in the Marketplace. Due to brexit and supply chain it also OPPORTUNITY Theorganizationisworkingwith amendedTechnologieslikeartificial Intelligence and machine learning and itimprovetheirproductivityand operational activities full stop it create
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become major threat of the companymore opportunities for the organization to become effective in the Marketplace Analyzing Marketing opportunities: It is very important for the Tesco organization to identify their marketing efforts unities in order to meet the customer demands so that the company can get more competitive advantages .marketing important is essential in the planning process and it develop a long-term opportunities for the organization so that the company can improve their performance(Ardiansyah,2020). It is an essential marketing tool in order to evaluate the organization opportunities so that the company can get more Marketing Information and also format the organization to analyze about themarketingopportunitieswhichisassociatedwiththecompetitor’senvironmental modification and about the consumers. Formulate budget:In order to formulate marketing strategy it is very important for the company to formulate marketing budget and there is a marketing budget in context of Tesco which are mentioned below: PARTICULAR S IIIIIIIVV Start-Up Capital540011000124501303017140 Investment43007800550044658636 TOTAL970018800179501749525776 MARKETING EXPENSES Promotion6500780069001270013660 Publicity88001210099001050012200 TOTAL1530019900168002320025860 Marketing strategies:
STP: Segmentation:It is the process which includes categorizing the market in several groups. The organisation divides their market according to the Geographic and demographic element that include income gender in several more elements(Kusá, 2016). The chief objective of the organization is to categorize the entire marketing into small partitions on the basis of their income age Gender and many more. Targeting:The main objective of the Tesco organization is to target numerous customers for conducting several activities in an appropriate manner and create more customer base towards the company. Positioning:Organization is using online platform with several physical outlets it provide social media to so that the company can attract numerous customer what's the company. Marketing Mix ProductTESCO caters variety of the goods and services which include food clothing electronics in many more. Along with this the organization also provides grocery deliveryservicesandfreemusicdownloadssothattheycancreatemore opportunities. PriceThe company is maintaining low price without reducing their quality of the product and services so that the company can get more cost advantages and keep their customer happy placeThe organization is using Two main channels in order to distribute their goods and services are offline and offline. In addition to this the organization has several stores like Tesco Express Tesco extra Tesco metro Tesco compact so thattheorganizationcanprovidecomfortableservicestowardsthe Marketplace. promotionThe organization is using social media platform and digital marketing in order to promote their product and services so that they can satisfy the requirements
of their customer. CONCLUSION From the above mentioned report it has been concluded that marketing and sales is very important for the organization in order to promote their products and services in the Marketplace and accomplish their goals and objectives in an authentic manner in addition to this it provides several opportunities for the organization so that the company can overcome the threats and get more opportunity.
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REFRENCES Book and journal Kim, W.G. and Park, S.A., 2017. Social media review rating versus traditional customer satisfaction: which one has more incremental predictive power in explaining hotel performance?.International Journal of Contemporary Hospitality Management. Rojuee, H. and Rojuee, M., 2017. The impact of advertising and sales promotion methods on brand loyalty through brand equity (case study: Chitoz Brand).International Journal of Basic Sciences & Applied Research,6(1), pp.11-18. Hänninen, M., Smedlund, A. and Mitronen, L., 2018. Digitalization in retailing: multi-sided platforms as drivers of industry transformation.Baltic Journal of Management. Ardiansyah, D.S., 2020.Peran Sales Dan Marketing Terhadap Penjualan Kamar Di Hotel Arcadia Surabaya By Horison(Doctoral dissertation, UNIVERSITAS AIRLANGGA). Kusá, A., 2016. The new rules of sales and customer service.Communication Today,7(1), p.133.