TESCO's Marketing Mix: Analysis of Retail Sector and New Product

This report analyzes TESCO's marketing mix strategy in the retail sector, focusing on the launch of a new health drink. The report examines the importance of product quality and how TESCO aims to provide a high-quality product tailored to consumer needs. It discusses the pricing strategy, emphasizing the use of penetration pricing to attract consumers. Furthermore, the report highlights the significance of promotion, particularly digital marketing, to effectively reach the target audience. The report concludes by emphasizing the role of marketing elements in increasing revenue and ensuring business success in the retail sector. References are provided to support the analysis.

INTRODUCTION TO BUSINESS STUDIES
Marketing mix
TESCO is operating their business in retail sector, they want to increase revenue
through launching new products that is health drink.
Product-
Organization mainly focus on product quality, they offer the best quality goods
to its consumers. Production department consider the needs of people and then produce
new health drink easily without any mistakes. Company will add all the nutrition
elements in drink that help to make people fit and healthy. Product is manufacture
according to market needs and people requirement.
Price-
Price is the main factor of product which drive people towards purchasing goods.
Organization set affordable price for their new product which is very essential to grab
the attention of consumers in market. They will use penetration pricing strategy in which
company set low cost in order to gain profit and market share rather than before.
Promotion-
It is the activity that encourage business to communicate with their target
audience effectively in marketplace. TESCO for launching their new product will use
digital marketing tools to selling their goods as it helps to react at target audience easily.
Promotion is element of promotional plan or mix which is beneficial for business
success.
Introduction-
The present report is based on marketing mix, elements apply by TESCO
company to increase their profitability in retail market.
Conclusion-
From above it has been concluded that TESCO company launch their product
with the help of marketing elements that helps to generate more revenue of business in
retail sector and make their business more successful.
References-
REFERENCES
Khan, M.T., 2014. The concept of'marketing mix'and its elements (a
conceptual review paper). International journal of information,
business and management, 6(2), p.95.
Helm, R. and Gritsch, S., 2014. Examining the influence of
uncertainty on marketing mix strategy elements in emerging business
to business export-markets. International Business Review, 23(2),
pp.418-428.