Depth study into marketing in Tesco
1.
Tesco is one of the largest retailer which offers quality of services and products.
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It employs almost 520,000 people and serving millions of customers every week.
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The main behind preparing PPT is to explore principles of marketing and their impact on Tesco and its customers.
4.
This presentation provides detail information about in-depth marketing in Tesco.
5.
In this regard, different market analysis tools such as SWOT, PESTL and 4 P’s of marketing have been used in present research.
Definition the act of action promoting and selling products or services offered by any business entity. Importance 1.
Acts as a Source of Income and Revenue
2.
Helps the company to make more sales
3.
marketing builds brand name recognition or product recall
4.
Fosters an environment for healthy completion
5.
Provides a chance for being discovered by prospective customers
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1.
The Chartered Institute of Marketing defines marketing is a process which is responsible for identifying and satisfying customer needs in an appropriate manner.
2.
American Marketing Association explored marketing process as an activity which is used for creating, communicating, delivering, and exchanging offerings.
Appropriate marketing process is followed within Tesco to meet expectation of customers. Elements of marketing process can be described as follow. 1.
Analysis of market environment
2.
Identification of target market
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1.
To meet needs of customers by delivering quality of services at affordable price
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To enhance customer base and profit margin
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To provide shareholders with progressive returns on time
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To offer customers the best value for money
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To support the well-being of the community
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To work closely with suppliers to build long term business relationships
1.
By 1924, Tesco has started selling his first own-brand product.
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In 1960, enterprise introduced Green Shield reward scheme to promote its products and services
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After 1977, enterprise was added superstores and ever more branches to its store.
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In 1993, company was launched its Value range
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In 1995, Tesco Club-card was launched to attract customers
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After 2000, social media marketing and new emerging technologies used.
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Tesco makes decision based on customers’ needs and wants in market orientation approach. 1.
Customer centric
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Making customer benefits
3.
Reasonably competitive advantage
1.
More Focused production
2.
Concentrated Strategy
3.
Marketing Advantages
4.
Long-Term Profitability
Anandan, 2009. Product Management, 2E. Tata McGraw-Hill Education. 2. Lilien, L.G, 2013. Principles of Marketing Engineering, 2nd Edition. Decision Pro. 3. Nickels, G. W., 2012. Marketing Principles. Cenagage learning. 4. Smith, C. M., 2008. Principles of Marketing. Lea & Febiger. 5. Wise, R. and Sirohi, N., 2005. Finding the best marketing mix. Journal of Business Strategy. 1.
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