TESCO Plc Marketing Strategy: Segmentation, Life Cycle, and Research

This report provides an overview of TESCO Plc's marketing strategy, focusing on key business functions, market segmentation, and product life cycle. The market segmentation for TESCO Plc includes geographic, demographic, psychographic, and behavioral factors. The product life cycle encompasses introduction, growth, maturity, and decline stages. The report also distinguishes between mass and niche markets, highlighting TESCO's unique selling point of 'every little helps.' Furthermore, it discusses various market research methods such as surveys, interviews, and observation. The primary objective of TESCO's marketing strategy is to regain stakeholder trust through market analysis and a comprehensive marketing mix, utilizing print and digital media for product promotion.

Introduction to Business Functions

Introduction to various key marketing terms
Basis of Segmentation Segmentation
Geographic The company offers its products and services within each geographical
location at national as well as international level.
Demographic TESCO Plc, targets males and females both from lower as well as middle
income level group which could be the students,professionals or even
employees.
Psycho-graphic Traditional as well as easy going personality people can get associated with
the TESCO Plc.
Behavioural TESCO Plc. offers for every occasion as well as providing cost advantages
in different varieties (Pak and et. al., 2020).
Market segmentation
The market segmentation for TESCO Plc, comprises of the
following:

Product life cycle
This includes four different stages such as introduction of the product, its growth, the
maturity level and finally the declining stage. TESCO Plc, at the introduction stages
plans to generate the awareness of its items and developing their brand image at their
growth stage, when they attains the economies of scale they reaches to the maturity
level finally when the product is not preferred by the customer's it attains the
declining stage and reaches to zero sales even.

Mass and Niche market
The mass market refers to a place of trade where the company is having huge crowd
of customers for the buying of product and services. Whereas, the niche market is
related with the specific type of customer market where the premium price products
are sold and are bought by higher income group customers (Stewart and Brown,
2019).

Unique Selling points
The unique selling point of TESCO Plc, is “every little helps” which means
that each customer should avail the products & services of TESCO with high quality
in each type of market.

A table of different types of market research
Type Meaning
Surveys This includes qualitative research through asking
some questions from target audience.
Interviews This involves one to one interaction and asking a
set of questions individually face to face.
Observation Under this, the employees of TESCO would have a
consumer observation session through watching the
customers behaviour for their product or service
(Visconti, Peñaloza and Toulouse, 2020).

Explanation of flow chart to the marketing strategy
 The main objective of TESCO's marketing strategy is to regains the trust level of
their stakeholders through a proper analysis of market along with its competitors.
The company then focuses upon the marketing mix where it offers various
products in market through print media and digital advertisements.