Tesco Marketing Plan Essay Example | Topics and Well Written Essays - 2500 words

Tesco Marketing Plan - Essay Example Price competition, backed by improved efficiency, is the main feature of food retailing industry today. UK food retailers fight for survival in markets faced with over-capacity. Within rapidly changing environment, this kind of development ensures that long-term survivors are those firms who are more competitive and are better able to satisfy consumer needs and adapt to the new competitive environment. In 2004, consolidation re-shape UK retailing industry and Hypermarket retailers (like Tesco) want to make sure they don't miss out on this growing area of the UK market" (Moreau, 2004; Desjardins, 2005). The first marketing aim is to get the right goods to the right consumers, trying hard for customers. Another marketing aim is to build and promote healthy living brand. Knowing what individual customers appreciate and what they want to avoid can add up to one of differences that create a competitive advantage. C) Tesco customer groups are defined on the basis of their specific segments and buying potential whether they be country groups or individual consumer groups-of potential customers with homogeneous attributes who are likely to exhibit similar responses to a company's marketing mix. Tesco customers can be divided into five broad categories: The second group of customers share universal wants, n... Life stage of customers (students, young adults, older adults, young families, older families, over 60s); lifestyle ('Basket typology'); Customers driven by product promotions; Customers loyal to specific brands" (New Marketing Techniques Search for the Edge, n.d.). The first group of consumers is characterized by strong purchasing power. They need high quality product and ready to pay for them. This is a high-income group. The second group of customers share universal wants, needs, desires, (for name brands, novelty, entertainment, trendy, and image-oriented products). This segment is attractive both in terms of its size and its multi-billion dollar purchasing power. This segment's needs and wants are spread over various product categories: durable and nondurables goods. The third group is characterized by share few family activities; they want build-to-order solutions. They do not need a specific brand or new product, but high service and product at low price. This is a fast-growing segment. Customers driven by product promotions are not usual visitors of Tesco being attracted by low price and discount for new products. They are deluged with passive information. The fifth group includes people whose tastes are based on desired standards. Quality is the main purchasing criteria of this group. Their choices are made on the basis of price and product features. Graphically these groups can be represented as follows: 100% (customers) 50% 1 2 3 4 5 (Groups) It is important to note that there are some customers which belong to two different groups. For instance, they can represent lifestyle ('Basket typology') group, but be loyal to specific brands. D) The main competitors of Tesco are Sainsbury and Asda. Minor competitors

Marketing Report -- Case Study Essay Example | Topics and Well Written Essays - 1750 words

Marketing Report -- Case Study - Essay Example Table of Contents Executive Summary 2 4 Marketing Situation 4 Marketing Strategies 5 Motivation of Employees 6 Building Blocks of Internal Marketing 6 Implementation of Internal Marketing Activities 7 Current Marketing Strategies 9 Alternative Strategy and Their Impact 9 1. Centralized Strategic Planning Resource 9 2. Senior Management Participation 10 3. Performance Appraisal Criteria 10 Recommendation 11 Conclusion 12 References 13 Marketing Situation In today’s competitive market, customer satisfaction is an important factor that should be undertaken by every organization. The theoretical context of customer satisfaction was first operationalized in the year 1985. Customers can be satisfied once the organization is able to identify the expectation level of the customers. The company will be able to achieve the expectation level of the customer only if the internal employees are happy and satisfied. The employees are internal customers for the organization, thus, it is neces sary to take care of their staffs or employees because they are involved in assisting the customers. In ING Direct call centre department, the calls are answered by their employees. The employee motivation is also an important way to meet the customers’ expectation and therefore the company will be able to achieve the sustainable growth. ... ING Direct is also highly dependent on the employees’ satisfaction as the company provides financial services where the employees have the responsibility to interact with the customers for generating their faith and trust (Rafiq & Ahmed, 2000). Marketing Strategies The strategies are the plans of an organization to achieve goals and objectives which show direction to the organization. The strategies are developed at different levels such as corporate, business, divisional and departmental level. All the strategies are integrated to form a plan for the organization as a whole. The support from the other components of business unit function such as production, finance and R&D are necessary to achieve the marketing objectives. Every department is inter-related and has to combine together in an integrated manner while taking a strategic decision (Corey, 2003). Marketing strategies mainly focus on long term competitive and consumer advantages and are composed of different elements. These are the strategies related to selection of product and market, deciding the price of a product, finding out the best possible distribution system, i.e. wholesale or retail channel and creating awareness of the product to different customers through advertisement in newspaper, television and others (Corey, 2003). The strategies are driven by cost, technology, distribution, service or other competitive advantages of the firm to turn out to be successful, but the company is required to be consistent with customers’ needs, perception and preferences (Wind & Robertson, 1983). According to Mornay Roberts-Lombard (2007), internal marketing emphasizes on the teamwork of the employees in developing and retaining successful business strategies. The internal marketing means that