Other
Marketing essentials
- Course
- Institution
- Book
This document will cover marketing essentials with examples provided. References are added and links are at the end of the document.
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
Project Plan
-
Project Plan
Seller
Followauroraoleinik
Content preview
Aurora OleinikUnit 2: Marketing essentials
Part A:
Company Name: Tesco
Subject: Market Competition
Purpose: compare the ways in which different organisations apply the marketing mix to the
marketing planning process to achieve business objectives (P3)
Competitor name and objectives; Tesco…
-Understand customers and being the first ones to meet their needs
-Helping to reduce food waste globally and ensuring surplus food goes to those in need
-Making it easier to live more healthily
-Sourcing great quality affordable and sustainable products
-Making a positive contribution to the communities where we operate
(About us, Tesco)
Product:
Tesco sells a wide range of products and services such as halal food, vegetarian products.
Also, clothes, electronics, home essentials and they have a pharmacy inside their stores.
Tesco is also reducing the use of plastic on their packaging. Tesco provides a wide range of
different products which include food, clothing, electronics and financial services. By
expanding their product line to meet every possible need of its customers and this has
expanded into the online marketing sector. This means that they offer grocery delivery
service. Tesco also provides a wide range of different choices if regional products such as
international cuisine in food and many different choices.
Price:
They offer cheap prices with high quality.
Tesco attempts to maintain their prices as low as possible without reducing the quality of
their products. If they can keep their customers happy this helps the business to measure
the economy of scales their customers enjoy. Tesco’s strategy of low prices it has been
recommended to customers to make it possible for Tesco to surpass all expectations and
become the leading supermarket, to leave Sainsbury’s behind. The kind of excellent price
promotion is a great strategy that helps reduce prices and further to increase their sales
revenue without affecting profits much.
Place:
This leading supermarket has a clothes brand which they are working with such as F&F. they
also have an online presence and physical stores in different areas around the world, making
them international. They also offer petrol stations for customers to use and pay for the
cheap petrol prices.
, Aurora Oleinik
Unit 2: Marketing essentials
Many Tesco stores are not excessively decorative compared to Sainsbury’s and other
supermarkets. This is because Tesco doesn’t need to be spending unnecessary money on
furbishing its stores, meanwhile all its stores are clean and attractive as this is easy to
navigate with all the products being well categorized and stress-free to find. Many offers are
also placed in such way to lure their customers to purchase more than they need. Tesco’s
website is also simple and easy to operate. While Tesco is using their websites, they have
the availability to trade beyond the structural working days as customers can always
conduct their transactions without needing to go to the bank and take money out. This
means internet marketing can offer services virtually online 24/7.
Promotion:
Tesco is being socially responsible by raising consumer interest by reducing food waste and
plastic to be more ethical. They also have charity events such as ‘Race for Life’ by collecting
money and donating it to the Cancer Research UK to promote their business and using that
spotlight to raise awareness for cancer. Tesco has been the proud partner of Cancer
Research UK’s Race for Life for the last 18 years where hundreds of thousands of their
colleagues and customers have taken part in Race for Life events and over the years Tesco
has raised over £46 million to support the research. Tesco also advertises their products and
services through billboards, social media, television and radio.
Tesco’s stores are spread far and wide in the world, it involves the business to employ two
main channels of distribution for its products and services. Such as online and offline. Its
online forum Tesco Direct comprises of its official website- www.tesco.com. And its offline
forum involves six different stores to show that all customers don’t have to feel
uncomfortable in big stores. Additionally, Tesco uses the Club card which is an easy and
accessible service to provide many of their customers with additional discounts. This service
helps Tesco to study the demand patterns of its customers to know if the market flow is
going well. Tesco can use online advertising with paid promotion on affiliate websites. The
business can use cookies to keep in contact with their customers where customers access
the most on a frequent schedule like social media platforms.
People:
There are 480,000 staff employees. Their staff members receive training with knowledge to
provide the best service to their main stakeholders such as their customers. Tesco is well
known for providing opportunities such as jobs, apprenticeships and the best customer
service customers can get. Tesco offers part-time jobs and full-time jobs for newer
individuals to pick throughout the year and receive training and supervision for their job role
as they have permanent and temporary staff.
Tesco also provides staff with excellent experience and it’s been known by such great
responsibility. They use different programs such as save as you earn and Buy as you earn; its
employees are highly competent and well compensated for their contributors in making
Tesco a success. Tesco can have an efficient HR management which they can improve their
business by reducing their staff using electronic communications, such as the HR admin can
use a computer to do their job and communicate with their colleagues through online.
, Aurora Oleinik
Unit 2: Marketing essentials
Tesco can also find the best talent from anywhere in the world to fill the skills gap within
their organization, this can lead to Tesco to improve their customer service to their
customers within the business.
Processes:
Tesco offers home delivery which includes next day delivery with fresh groceries. There are
other services Tesco provides such as Scan and Go, Click and Collect and self-service
checkout for faster and efficient checkouts. Loyal customer has a Clubcard where they can
receive discounts, free samples and many other great promotions.
Tesco makes sure that their products are available at their retail stores with systems that
can notify when the inventory levels are low, and the stores will have to contact their
suppliers for more stock. Tesco also has an online delivery process where orders are stores
in computer systems and based on the orders the inventory is shipped to the delivery
service provider where the number one retailing supermarket is involved in researching
market opportunities in order to understand their customer needs. Also, they develop the
understanding of regarding to customer needs through feedback getting collected at their
stores, helpline and social media pages. Tesco should look for ways to innovate and improve
their process of their terms of efficiency and cost, cost saving would be eventually led to
lower prices for its products. (Tesco Marketing mix strategy by Henry Davis on January 10,
2018)
Physical environment/ evidence:
Reducing food waste by providing bins for staff and customers to make use of to give in food
products they aren’t using anymore so it can be given to those in need. Tesco is known for
offering accessible toilets for people in need, self-service checkouts for faster payments and
clean wide aisles for customers.
Tesco sells their products with a distinct colour packaging that easy to identify on their
shelves and they are placed on special certain shelves provided by the company which has
other distinct colours and designs to make it easier for customers to locate such shelves in
peak times. Tesco has an online presence that is family friendly and allows customers to
view their products in high quality images from various angles. Tesco should set up their
own stores providing a shopper-friendly atmosphere and environment by encouraging their
customers to purchase more products and services they sell. (Tesco Marketing mix strategy
by Henry Davis on January 10, 2018)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller auroraoleinik. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R480,11. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72042 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now