Marketing in Tesco: Collaborative Practices and Financial Management

This report examines the marketing strategies employed by Tesco, a major UK supermarket chain, focusing on its approach to attracting and retaining customers. It explores the various roles of marketing within the organization, emphasizing the importance of customer satisfaction and market share growth. The report also delves into collaborative working practices within Tesco, highlighting how teamwork and innovation contribute to its success. Furthermore, it analyzes the role of financial management and reporting, detailing how accounting, investment opportunities, and cash flow management support marketing efforts and overall organizational performance. The report concludes by summarizing the key findings and emphasizing the significance of marketing, collaboration, and financial management for Tesco's continued success and profitability in the competitive marketplace.

PROJECT

Table of Contents
INTRODUCTION.......................................................................................................................................3
Marketing within organisation.................................................................................................................3
Develop an understanding of collaborative working practices.................................................................4
Demonstrate role of the financial management and reporting within the organisation............................5
CONCLUSION...........................................................................................................................................6
REFERENCES................................................................................................................................................7

INTRODUCTION
Marketing refers to the term which is used to maintain the connectivity between the
organisation and the consumers by using the products and services by the company they attracts
and maintain the relation with the customers. It helps attracting the people towards the offering
and earns a high amount of profits and services. It includes the various activities like advertising,
participation, customer interaction through feedback etc. this report includes the Tesco that is
one of the largest superstore market in the UK. This project is based on the marketing in the
organisation that also shows the various terms that is used to understand the collaborative of the
working practices which is more important for the organisation success. At last it demonstrates
the role of financial marketing and reporting in the company so that they earn high profits and
market growth with longer sustainability in the marketplace(Wassermann, Reeg and Nienhaus,
2015).
Marketing within organisation
Marketing defines the nature of the manufacturing products and services and distribution
channels that is used by the firm for their goods and services and earns high profits from it. It
helps in boosting the sales, profit, promotions and the relation with the customers. Their main
aim is to fulfill the demands of the customers by providing effective and appropriate offers to
them. As per the current demand of the business environment the major aim of the marketing is
to satisfy the customers with the company products. In context of the Tesco, marketing is very
essential to boost the sales and the profits while attracting large number of loyal customer base.
There are various roles that a marketing plays within the Tesco are as follows(Asghar, 2015).
The main work of the marketing is to ensure the organization growth, survival and the
reputation and this all done by customer retention and increment in the market share. It helps the
Tesco because they are customer centric and work for customer satisfaction beyond the people
expectations.
The major aim is to satisfy the need of the consumers as it is pre- existed in the market. in
this manager of the Tesco can research the whole market and indentify the demands and needs of
the people and than make the products that fulfills the demands to the high extent.

Marketing helps in producing the internal communication by using newsletter and
intranet. it is very important for the workers of the company to understand the organisation in an
appropriate way, its goal, vision and all priorities(Llauradó and et. al., 2015).
The main role of the HR is to recruit employees for the vacant position so that Tesco get
the skilled and valuable workforce who can complete the task on the time and earns a profits and
revenues. They also appraise the performance the employees so that they get motivated to
perform best and accomplish the objectives on time.
The main role if the finance in the Tesco is that they manage and maintain all the funds
within the organization. So that they provide the funds to the different department who can
fulfills the demands of earning the profits and market share.
Develop an understanding of collaborative working practices
Collaboration is the major factor that plays an important role in the li8fe of the business
at the time of completing the task on a desired time in an effective way. if the company follows
the collaboration than they work as a team and feel like an important part of the organisation in
the working place. In Tesco collaboration play an effective role to understand the working
practices within the firm. It includes various determinants that is very helpful in understand the
various terms that are as follows(Gonzalez-Padron and Ferguson, 2015).
 Encourages innovation – It is an important term in the collaboration that is helpful in
the working environment5 as they encouraged the team work where they organize a
session of brainstorming to get the attractive ideas on the particular task. In this all tem
members of the Tesco can indulge and motivates one another to make a ‘can-do’ feeling
so that they get the expected results and company earns higher profits. in this leader and
the manager play and significant role that encourage their subordinates so that they work
effectively and give an appropriate results. This can be done by the research department
in this Tesco research department can collaborates with the production department to
innovate and modify the goods and services and that the production department can
manage it. than the marketing department promote the innovative product in the market
to get the number of customer base.

 Leverage team member strength – It is very important for the manager of the Tesco to
make a strategy for working with their employees according to their strength not on the
basis of their weaknesses. In this leader can use the Myers- Briggs to test the every
employee personality to analyse the strength and weaknesses. This helps in reducing the
conflicts and encouraging the collaboration within the working environment. if a HR
manager of the concerned company can connected in this way that it place high success
on the task completion. And this helps the marketing manager to get the appropriate
knowledge of the internal environment so that they attract the customers and earns a high
amount of profit.
 Networking – It is an effective term in the working place. Tesco is working as a
collaborative team because of this they can socialize with the people and connected to the
wider number of people to market their products and services. it is very important
connected with the large number of people because it gives the bird eye that helps in
understanding the market structure that is important to earn more and more
profits(Reindl, 2015). In this marketing manager of respected company can connected
with the market to attract the products and candidates to the vacant job so that HR
department can organize the recruitment and selection process.
 Communicate expectation – The main role of the collaboration that is very helpful to
understand the working practices within the Tesco. As it helps in knowing the accuracy
of roles and responsibility that every employees have received and according to that they
work upon it. It will reduce the conflicts in the team members and maintain a proper
decorum so that task ca n be achieved within a specified time period. It is very important
to place an effective communication between HR, finance and marketing department
because all this helps in managing the employees and manage the funds and attracts the
large customer base and earns a large amount of profits.
Demonstrate role of the financial management and reporting within the organisation
Financial management play and important role in the organisation as they handle all the
funds and the monetary value that provide help to the marketers to promote the goods and
survives, maintaining all the accounting, manage budgets etc. it is a part of the successful
organisation. In terms of the Tesco, financial management is very important and it contains some
roles that can be described below(Kelly and et. al., 2015).

 Accounting and book keeping - The first and the foremost role of the financial
management is to maintain and identify all the records of the financial information in the
organisation. This accounting and book keeping can show the overall condition of the
business enterprise. In context of the Tesco, financial manager can manage all the
accounts and book keeping by using latest technology so that they know their financial
condition and it also presents the overall picture of the company. In this booking can
record the day to day history that is the main foundation the business unit.
 Reporting – It is the another role of the financial management that shows the
stakeholders a picture of the financial report so they can make the important decisions to
the welfare of the company so that they earn high amount of profits. In this shareholders
of the concerned firm share the financial progress of the business to forecast and manage
the budget of the company. this will play and important role because it is very helpful in
making the decision related to the financial resources.
 Investment opportunity - It is an effective role of the financial management team in the
concerned organization because they provide the right opportunity and the best deal of
investing the money which is very helpful to earn more and more profits and maintain
their market share on the high rates. in this they will notify the company where to invest
in the acquisition or the new product or how to promote the goods and services etc. all
this factors can be guide by the finance manager(Masum and Mehedi, 2018).
 Payable and receivable - It is the major task of the financial management team to
manage the overall cash flow of the concerned business. it is very important to make a
clear and understanding report of the cash inflow and the cash outflow which show the
liquid assets that is helpful in investing the projects and maintain the smoothness within
the organisation.
 It is very important to maintain the proper report in the organisation as it helps in
managing the budget and shows the profit, growth and the trends that was present in the
company. it can provide essential information which is needy to forecast the future,
planning the budget. it also improves the decision making of the Tesco. This reporting in
the organisation helps in transparency and gives the annual report to the shareholders,
country government and the owners of the business firm. This reporting function within

the company can enhance the performance of the task completion and maintaining all the
decisions in a smooth way(Islam, 2018).
CONCLUSION
From the above mentioned report it is to be concluded that the marketing is a prominent
term for the organisation. It helps in advertising the products and services, connects the
customers by taking feedback and also gaining the competitive advantage in the market place.
This report also includes the various working collaborative aspects that is useful to complete the
task very smoothly and effectively. It also helps in showing the role of financial marketing and
the reporting that helps in conveying the budget and provides the effective resources that earns
the high amount of profits(Seth, 2017).

REFERENCES
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