Introduction to Business Studies: Marketing Mix Analysis of Tesco

This report provides a detailed analysis of Tesco's marketing mix, examining its product, price, place, and promotional strategies. The report highlights Tesco's product offerings, including groceries, electronics, and branded items, as well as its cost leadership pricing strategy. It explores Tesco's physical store locations and its approach to customer convenience. Furthermore, the report discusses Tesco's promotional strategies, including its use of social media and loyalty programs. The report is designed to provide insights into real-world marketing practices, making it valuable for students studying business and marketing, particularly those working on coursework assignments related to the marketing mix and retail strategy.

Tesco’s Marketing Mix
BUSINESS STRATEGY
Marketing Mix
Place: It refers a place from where customers can get their products
or have access to products as per their convenience. Tesco has around
6,900 physical stores from which customers can get groceries and
other products. In this context, it can be said that it believes that one
stop store is the best strategy to satisfy customers.
Promotion: It is one of the main elements of marketing mix which
allows companies in making customers aware about their products
and services. Tesco has a good image in the market and it is also
stated that promotional strategy is the centre of its theme. For
promoting it uses social media platforms as well as loyalty cards.
Elements of Marketing Mix
It can be defined as a set of actions and some elements which gives all informations of
companies related to their products, place of selling, pricing strategy and promotional
strategy.
Product: It refers an item which are being
sell by companies and which can satisfy
needs of customers. In the context of Tesco,
it can be said that it offers a range of products
and services to customers who include: Food
and beverages, electric products, technology
and gaming products, health and beauty
products etc. It also owns some brands which
include: Tesco Bank, Tesco value, everyday
value etc.
Price: It refers an amount which is being
paid by customers for products given by the
company. In the context of Tesco it can be
said that it uses cost leadership pricing
strategy. It provides some products at lowest
price with the excellent quality in order to
attract customers. References:
Books and Journals:
Ndofirepi, E., Farinloye, T. and Mogaji, E., 2020. Marketing mix in a heterogenous higher education
market: a case of Africa.
SHENGNAN, Y. and Nedelea, A.M., 2019. ANALYSE LONDON TOURISM BY
MARKETING MIX ‘4PS’. Ecoforum Journal. 8(1).