Strategic Marketing and Sales Plan for TESCO's New Product

This report analyzes TESCO's marketing and sales strategies for introducing a new healthy and energetic drink. It covers strategic analysis including competition, cost, pricing, and break-even points. The report details product development, testing, commercialization, and sales campaigns, including marketing concepts, marketing mix (price, product, promotion, place), and new product processes. The marketing plan includes objectives like enhancing market share and maximizing profit. The report also addresses the current market situation in the UK, target market (old and young generations), marketing strategies (advertising and social marketing), and budget considerations. The conclusion highlights the importance of marketing and sales for TESCO's success, emphasizing the creation of a unique selling proposition to maximize sales and profitability. The report references several books and journals to support the analysis.

Principles of Sales and Marketing
INTRODUCTION
Sales and marketing have their own importance
in current market. The report main aim is to provide the
importance of marketing and the chosen company for this
report is TESCO which is one of the leading retail
company and offer variety of products. Quoted company
wants to introduce healthy and energetic drink for their
customers. Report demonstrate an understanding of
marketing and sales concepts and provide marketing plan.
It also assess the impact of marketing from the consumer
as well as organizational perspective.
1. Presenting the marketing and sales concept
Marketing concept: It holds the basic key that helps to achieve the
goals of a company in order to creating, delivering and communicating
customer value for their chosen target market so that their customers will be
satisfy. It is also based upon the customer orientation and coordinated efforts
of all department.
Selling concept: It is the concept on which the sales of goods and
service are not underlying the needs and wants. In this, there is no matter
whether the customers are needed the product or not. The main basis of this
concept is to maximizes the profit and then proceed to marketing.
2. Presenting marketing plan
Summary: TESCO wants to introduce new product
i.e. healthy drinks for their customers and for this reason, the
marketing plan is introduced which comprises position, target,
budget, marketing strategy etc.
Objectives: The main aim of introduce this product
into market is to enhances the market share and maximizes the
profit. Further to maintain the long term relationship with their
customers.
Current situation: Market analysis is necessary in
order to determine the the actual condition. In UK, the political
as well as economic condition is stable so there is no problem to
introduce new product in market.
Position: TESCO should position their product in a market in such a way
that it helps customers to believe that they need a particular product in order
to provide the benefit. The position is also done for creating the brand image
in market and having a unique selling proposition is helpful for the company
to sell the product into a market.
Competitive analysis: As the company is one of the leading and largest
company that deals with different products. Therefore, the rival are Marks
and Spencer, Walmart etc. therefore, the price of their new product should
not be more than their rival company offering.
Target: The target market of TESCO is the old as well as young
generation people. Therefore it helps to maximizes the profit of a company.
Marketing strategy: The marketing strategy which company
chooses is advertising and social marketing. These modern method is helpful
to let people know about their new offers.
Budget: the budget decided is around $ 560 which includes
advertising, labour cost, manufacturing and miscellaneous cost.
3. impact of marketing upon consumer and organizational
perspective
Impact of Marketing upon Customers: Marketing creates
positive impact upon customers behaviour such that through an effective
marketing, it encourages the spending of customers towards a particular
brand. Through an effective marketing the customers are simply
persuaded and indirectly they purchase that new product and maximizes
the sales. Among all marketing strategy, social marketing is consider one
of the most effective and influencing method that helps to convince the
customers to buy that new product.
Impact of Marketing upon Organization: Marketing provide
an equal opportunity to every business and through modern way of
marketing, it will help a business to maximizes their product. This
marketing also engage their users in offline as well as online way so that
it encourages them to purchase the product and as a result it helps to
increases the sales and as a result maximizes the profit. Only marketing is
a way that helps to reach large mass of people and influence them to buy
a product. As TESCO also uses this strategy to let people know about
their new product offering.
4. Presenting the marketing mix, new product/ service and sales campaign
Marketing Mix:
Price: TESCO should uses competitive pricing strategy in order to make their product popular in market.
The price of the product should be less as compared to other rival company.
Product: The product for TESCO is to provide healthy drink to the customers in the regards of customer
demand and to take care of their health.
Promotion: Company uses modern method of promotion in order to let people know about new offers. This
involve advertising, social media marketing etc.
Place: TESCO offer this product in UK as per the demand of their customers. The place and target people of
the company will help to maximizes the sales as well as profit.
New product process: It involves 8 step such as :
Idea generation: TESCO realize the need of producing the healthy fruit drink in market as per the demand
of their customers.
Idea Evaluation: As per the demand of their customers, company is able to afford this new product in
market.
Concept definition: This product is brought into a market and information is provided to their customers.
Strategic analysis: TESCO should include in their new
product analysis competition of a product, cost, pricing
strategies, break even point.
Product development and testing: All test is done and if
the product is approved in the test then it sends to next
process.
Commercialization and product launch: After applying
all strategies, its time to launch the product into a market.
Sales Campaign: In order to introduce the
product in a market, TESCO needs to organize different
campaign in various market. For this, the manager of the
company should make plan of their sales and let their
people realize the need of this product by telling the
benefits of using this product. In this way, sales is another
way of promoting the product into new market.
CONCLUSION
By summing up above report it has been concluded that marketing and sales have their own
importance in TESCO. Through marketing a company can let people know about their new offers as
well as service. As report concluded that it also creates positive impact upon customers as well as an
organization too. If TESCO having a unique selling proposition then it will be helpful for them to
maximizes the sales and it leads to earn more profit.
REFERENCES
Books and Journals
Andersson, P. and Axelsson, B., 2018. Organizing Marketing and Sales in a Networked Business World.
In Organizing Marketing and Sales: Mastering Contemporary B2B Challenges (pp. 269-284). Emerald
Publishing Limited.
Chaudhuri, A. and Boer, H., 2016. The impact of product-process complexity and new product development
order winners on new product development performance: The mediating role of collaborative
competence. Journal of Engineering and Technology Management. 42. pp.65-80.
Huang, R. and Sarigöllü, E., 2014. How brand awareness relates to market outcome, brand equity, and the
marketing mix. In Fashion Branding and Consumer Behaviors (pp. 113-132).
Johnson, J. S. and Matthes, J. M., 2018. Sales-to-Marketing Job Transitions. Journal of Marketing.82(4).
pp.32-48.
Markovitz, H. B. and et.al., 2018. The Challenge of Sales and Marketing Silos in University Curricula: A Teaching Perspective. International Journal of Marketing and Sales Education (IJMSE). 1(1). pp.31-48.
Regmi, S. and Yeung, D., 2016. Sales and marketing.