Marketing Report: Analyzing Tesco PLC's Strategies and Practices

This report delves into the marketing strategies of Tesco PLC, a major retail brand. It begins by defining marketing's role and its interrelation with other organizational functions, such as production, human resources, and finance. The report then examines the roles and responsibilities of the marketing department, including understanding customer needs, tracking trends, managing brand values, and defining strategic marketing plans. A significant portion of the report analyzes the application of the marketing mix elements (product, price, place, promotion) to achieve organizational objectives. Finally, it develops and evaluates a marketing plan, highlighting key aspects of market analysis, segmentation, and implementation. The report underscores the importance of effective marketing in driving business growth and achieving customer satisfaction, using Tesco PLC as a case study to illustrate these concepts.

Understanding
Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Role of Marketing and interrelation with wider organisational context.................................1
Analysis of roles as well as responsibilities of marketing in case of marketing surrounding.4
Importance of interrelationship among marketing and other functional units of organisation.
................................................................................................................................................5
Critically analyse and evaluate key elements of marketing function and their interrelation. 5
TASK 2............................................................................................................................................5
Usage of Marketing Mix elements to achieve organisational objectives...............................5
Developing and evaluating Marketing plan...........................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing is one of the most important and meaningful task for organisation. Its
necessities are inevitable in modern times. The function helps organisation to know and meet
demands of consumers with changing times which are supported by extensive and elaborated
research by business organisations (Alqahtani and Gupta, 2017). Thus through this function a
business attracts more customers in targeted markets, increase their awareness about products
and services offered by company and then convince them for buying these products. The task of
marketing is consumer oriented and includes different dimensions. In this report, it is attempted
to understand different dimensions involved in marketing process, with the help of a case study
on Tesco plc one of the largest retail brand organisation in United kingdom. Tesco plc carries out
its business operations in many big countries like UK, China, India, Ireland and many more
which is supported by more than 7000 stores and staff of hundreds of thousands of employees.
The report starts with understanding concept of Marketing and its usefulness in the business,
what are the sets of roles and responsibilities of marketing department in an organisation and its
interrelation with other organisational departments. Followed in the report is a discussion on
various methods that a business uses for making their marketing program a success, this is
understood in the report with the help of Marketing mix model and at last the report have
developed marketing plan and discussed ways of its evaluation.
TASK 1
Role of Marketing and interrelation with wider organisational context
Process of Marketing is conceptualized as the philosophy of business in which any
organisation takes steps to create more and more awareness about its product and services to
maximum number of consumers through proper market segmentation and targeted markets and
makes presents in such a manner to induce and convince customers to buy those products and
services (Asseraf, Lages and Shoham, 2019). The process of marketing also focuses on achieving
maximum satisfaction of customers, unlike Selling concept that totally focuses on increasing
sales for a business. The Sales concept is seller oriented whereas Marketing concept is consumer
oriented. When any organisation strives to achieve maximum efficiency through marketing, this
also helps it to acquire and improvise its competitive edge, makes it products more competent in
market. Concept of Marketing is thus based on four pillars Targeted Markets that business have
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to serve, Customer needs that business strives to satisfy, Integrated marketing to work under a
holistic approach and Profitability which is perpetual motivation for every business operations.
For Tesco plc, effective marketing and product diversification has helped in very
significant manners. The marketing strategy that business adopted led its transformation from
struggling to surviving to prospering business company and become one of the top most retail
brand in United kingdom (Bang, Joshi and Singh, 2016).
Roles and Responsibilities of Marketing functions
Marketing functions holds a very crucial importance in any organisation for continued
growth and profitability. Major roles and responsibilities of this function includes:
Understanding customer needs- It is he primary role of Marketing manger to understand as
well as forecast needs of customers by predicting existing trends and changing preferences in the
market. Tesco did well in understanding significance of this function to gain attraction of the
customers, inducement of buying and avail customer satisfaction.
Track trends and monitor competition- This function is helpful for Tesco plc in knowing
about their position in the market and at the same time know about the developments of
competitive rivalries. Keeping itself updated about the competition is necessary to remain in the
mainstream. Through this company retains its competitive edge. Also, this helps it to learn from
their failures and avail opportunities thus posed in market.
Brand Values- For every sort of product and services Tesco plc offers to the customers,
company makes it clear to the customers, its intention of providing that product and what
benefits can customers derive from this. It is depiction and presentation of those ideas and
images along with products that stimulate customers to know about values that company and its
products shares in common. This is known as branding of the product and services.
Searching for new Marketing tools- Marketing tools are those techniques, methods and
processes that supports marketing activities in an organisation. Therefore, it is imperative to be
aware of them in all manners and cope with changing dynamics, innovations and technological
and digital developments. Tesco plc through various marketing tools like, Product management,
Product information management, Marketing automation tools etc. have not only survived but
prospered remarkably (Di Maria and Ganau, 2014).
Coordinating with Marketing partners- Marketing functions can not be solely performed by
marketing department in the company. To make it a success company have to rely coordinate
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with other functionaries as well. In this way Tesco plc have not only coordinated with their
partners in marketing, like Designers, Publishers, Consultants, Developers etc. but also built long
and strong relations with them.
Innovate- This is the process of bringing surprises for the customers time to time. Tesco plc by
tracking needs and preferences of customers in effective order strives to bring new offers,
developments and services on day to day basis (Dixon, Martinez and Martin, 2015). This is
further supported by diversified product range of the company, from retail groceries products to
financial services.
Define strategic Marketing Plans- Marketing plans are set of proper rules, procedures, methods
and strategies in an organised manner for achieving success in Marketing efforts. Tesco plc
understood this best that without planning there is no success and most cost-effective plans are
those which satisfies long term purposes. The company adheres strictly with their plans, which
are formed after effective research and hypothesis, this also help Tesco in mitigating negative
results and deviations.
Managing Marketing Budget and Calculating ROI- Marketing efforts re like investments of
company for particular time period as predicted under Marketing plans. Therefore, like any other
investment this too requires proper budgeting and and calculating quality of return that one pla
could derive. Using this function of Budgeting and calculating ROI, Tesco plc have been also
helped in answering many other questions of adopting any particular plan and saved itself from
making wrong decisions.
Interrelation of Marketing roles with wider organisational context
This part of report studies significance of Marketing functions and roles by interrelating
them with other functions in organisation, to derive a holistic picture.
Production department- As discussed earlier Marketing department not only work to generate
consumer awareness about the product and build brand for the consumer about products and
services in the organisation, but it intends to satisfy needs and demands of customers as well. In
this order Production department and Marketing department works in closeness with each other.
Tesco plc has objected to maintain closeness between production and marketing department so
that products and services are produced as per demands of consumers and standards in the same
could be achieved thereon (Edvardsson and et. al., 2014). This helps avoiding duplication in
production and checks that production is made in such way that competency is not denied.
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Carrying production in time is another significance of collaboration between these two
departments.
Human Resource department- Alignment between functions of Human resource department
and Marketing department is important so that recruitment of employees is made in order of
requirement of appropriate skills and talents. Tesco plc noted that, since Marketing department
carries a detailed research and analysis about consumer preferences and demands and Production
department manufactures such products which would then satisfies these demands, this can not
be done in absence of those employees which possess appropriate skills and talents for meeting
production and consumers satisfaction targets (Hadjikhani, Lee and Park, 2016). Also, within the
Marketing department, to carry research, innovations, prepare proper plan and designs, and to
implement the same in efficient manner, there is need of personnel with desired professionalism.
Finance department- Finance department holds the responsibility of management of finances of
entire organisation and it ensures that adequate financial capabilities should be available within
organisation so that all other departments work in their organised planned budgets. Tesco plc
identified the need of proper communication between these two departments so that Marketing
department can convey its needs of budget to perform research, planning, promotion, and
distribution functions, and join hands with other marketing partners and arrange tools as per
planned budget. For which funds are sought from Financial department.
Analysis of roles as well as responsibilities of marketing in case of marketing surrounding.
There are different roles as well as responsibilities of marketing in relation to marketing
environment within Tesco context are presented below:
 Monitoring marketing environment- In Tesco marketing manager perform the role of
determining the new developments that are recent within marketing surroundings This is
useful for business to get constructive response for developments of offerings in
competitive international market. In this different kinds of aspects are consisted that are
monitored by marketing manager of Tesco such as socio- economic forces, internal and
external changes present in market, political and legal changes etc.
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Importance of interrelationship among marketing and other functional units of organisation.
Marketing is considered to be as a business function which is being analysed that could
help in coordinating through other functional units of company so that their business goals could
be achieved in a higher number. As inter relationship among marketing as well as other units
could help company in accomplishing their pre-determined objectives as well as goals by
carrying out their working operations in a planned way by having optimum utilisation of
resources. As these practices helps in providing a sense of effectiveness in working practices of
Tesco.
Critically analyse and evaluate key elements of marketing function and their interrelation
As per above information and by evaluating the key elements of marketing about how
marketing play roles and responsibility in organisation to generate the practice is a growth the
business volume effectively. Some other purposes like customer satisfaction; proper market
research and so on is our main roles and which important to organisation like Tesco. The
marketing relation with other sector is to co-ordinate their work and generate productivity
modest Marketplace.
TASK 2
Usage of Marketing Mix elements to achieve organisational objectives
Basic Tesco plc IKEA Group
Product The Tesco products offers a wide range
of segmentations that involve food
clothing electronics Financial Services
and so on. This ever escalating product
line that to every possible need of the
purchaser and it suggests online
marketing sector in which Tesco also
provides multiple of products and
services.
By providing simple range of
product rates to overall market
where IKEA product are trend
because they are more long-
lasting and quality enough which
is used by customer on a
everyday basis.
Price The pricing strategy which is followed by As the pricing strategy which
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Tesco is reasonable pricing strategy
where there main objective is that the
product and services must be in low
range they have targeted each and every
group of people on the basis of their
product excellence . In order to permit all
the cost compensations to its customers
and keep them happy apart format their
laws such discounts to retain the
customer in their prices. there is a
restrained level of bargaining price by
customer in Tesco because the product
and services which delivered by company
it is relies on quality and trust and the
products are highly suggested by people
in market.
measure the commences to Ikea
group that simplify product
which undertakes IKEA group
range of economic. By offering
advanced quality of furniture
which time to be quite costly
enough.
Place It is having stores which ahave spread
around the world is where to main
experiments of distribution the product
and services are producing online or
offline division. The channel of
distribution of Tesco within United
Kingdom and at other international level
because of their demands by customer is
more than any other retail market.
On the basis of IKEA group of
product as they have diverse
sources where they provide their
product both offline and online
platforms. . Customer's are
highly stimulate in both of the
platforms where they demand
more of IKEA products as it is
more long-lasting in various
International regions.
Promotion The strategy of promotion which Tesco
used to follow is low prices offered to
customer. What is the reason what this
set apart from other Superstore Chain and
develop the brand image effectually. It is
Perhaps IKEA group marketing
team defines local and
differences of region of market
group where the target those
product who can have enough
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having objective to improve the brand
image by dropping cost being used true
and maximize the profit. All digital
marketing platform in which Tesco also
has donated where they encourage their
products and services through online
entrances to make more awareness
modest market.
money and who are already
consume their product from
market. Even they also use
certain tactics digital marketing
platform to sponsor your
products and services for more
alertness in competitive market
People The people of Tesco accident in sales
assistant are also greatly accountable for
the success. It develops the programs
such as quality privilege card save as you
are and by as you can expansion the
reliability to the workers.
IKEA company human resource
practices to having more than 50
lakh subscribers where is
manpower only focus to earn
more results and better
supervision task-oriented.
Process Is a method of marketing mix in Tesco
case refers to keeping it customer
cheerful and satisfied with their products
and services it is easy to procure through
online and offline..
On the basis of practice which
IKEA initiate better economic
range product that contrived by
own IKEA team group and they
never cooperation on the quality
even there have to convert in
there systematic production
houses.
Physical Evidence The Tesco Physical evidence or not
overly expanded like those Sainsbury
other grocery stores. It is because the
Tesco does not see the arguments ending
more than in essential amount of money
on their stores as their excellence of
product is enough to create an indication
in market.
IKEA is one of the most
influence retail company in
which create through Sweden
country as well as in worldwide
where IKEA symbol is enough
to customer cataract where they
have to association within
company for maximum period of
time.
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Developing and evaluating Marketing plan
For the businesses in modern times, marketing processes are second biggest expense after
payment of salaries and wages. Thus, it is necessary for businesses to carry out marketing with
proper plans and strategies. In the absence of proper planning and research, the chances of
failures, deviations and non-optimal use of resources increases which is not at all helpful for
organisations. There are also possibilities of overlapping of functions and wastages of time and
money (Shah, Azhar and Bhutto, 2019). For preparing a good marketing plan, an organisation
must consider facts regarding marketing goals and vision, expectations of consumers in targeted
markets, quality of products to be offered, standards, channels of advertisements and promotions,
proper channels of distribution, delivery mechanisms, proper payment methods etc. And, from
viewpoint of organisation marketing plans must suit organisational goals and financial cost to the
business enterprise.
Overview of the company- The Tesco Plc is the British multinational company for groceries as
well as general merchandise situated in UK. This is third largest retailing company across the
world, which is measured by the gross revenues as well as the ninth-largest company across the
world. As Tesco plc serves huge market places, which are spread across borders in many
countries and attracts wide range of customers from different sections and classes in society.The
company thus carries out a very intensive and elaborated marketing plans, which are inclusive of
all sorts of products and services of company and consumers belonging to every section of
society.
Also, for this purpose company inundates various promotion and marketing methods. Hence,
Marketing planning becomes more inevitable in case of Tesco plc. Marketing plan for Tesco plc
may include:
 Mission- The mission of company Tesco is getting inspire as well as to create the value
as well as make differences from the other company (Westjohn and Magnusson, 2017).
The deepest purpose of the organization is getting benefit as well as supporting the health
and welfare for its customers.
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 Vision- the main vision of the company Tesco to listen their customers, with various
suppliers as well as to create sustainability within the environment. Along with to be
responsible on their commitments.
 Objective- The main goal of the company to creating and developing the new products
like recently company Tesco is focusing on making natural organic beauty products, that
is purely organic as well as customer will prefer the product in different ways. This
offering of products will create competitive surroundings also the company will make
available this product for customer in affordable cost.
.
Actionable Marketing Strategy
After knowing about all the contextual information required from Company's own plan to
Targeted markets to Competition research. Tesco plc should attempt to make its plan
implementable. It could be done by dividing entire plan in various segments, breaking it down an
order from which each section and area can be focused differently. Also it helps in identifying
deviations easily and ameliorate them in timely manner (Yang and Gabrielsson, 2018). And then,
use of mind maps can be made to tie different notes connected with a single marketing plan.
Through this, company also depicts professionalism in planning and implementing.
Evaluating
The tasks of Marketing planning does not end here, after simple implementation of
marketing plan. Since marketing plans pertains to marketing strategies of Company adopted for a
a specific time period, Tesco plc should monitor the results of marketing plan. It must be
checked that actual results do not deviated from desired results. Also, it to be considde4red that
in the process of implementation no faults are occurred. This can be better done by Tesco plc
through designing proper guidelines of evaluation of marketing plans and communicating them
to all the employees who are responsible for successful implementation of plan. Proper and
standard guidelines will be helpful for employees in monitoring results on equal parameters and
find out negative results like thumb-rule. The same could be then easily communicated to the
marketing department and necessary steps can be taken.
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CONCLUSION
In concluding the report, it can be noted form discussion made in the report that
Marketing is vital function in the organisation. This function helps organisation in achieving
various objectives and fulfilling purposes like acquiring product development, knowing
consumer preferences, meeting demand of employees, achieving competitive edge and fighting
competition, help building brand image, gain customer loyalty etc. in order to avail all these
benefits organisations undertakes different set of activities using various components of business
which can be understood through Marketing mix model. Under these components organisations
also follow methods which are suitable with the modern times and align with preference and
perceptions of consumers. But all this can not be done in absence of proper planning that
matches goals of organisation and cost for same.
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