Marketing Strategy Of Tesco

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1. Introduction Marketing plays an important role in the success of an organization and its business activities. It helps in identification of the target market and their needs, devise product mix strategies and create strong brand image in the customer 's mind. Organizations usually have a separate department to perform marketing functions. Multinational corporations spend millions or even billions of dollars on marketing activities. For instance, Coca Cola allocated more than $4 billion for the year 2014 (Cooper, 2014). A wrong marketing strategy can result in failure of a product. Similarly, a mismatch between marketing strategy and operational activities can also damage the product and organization 's success. The purpose of this…show more content…
After successfully running this startup, he bought shipments of tea from Mr. T. E. Stockwell. From here the name Tesco was derived by combining the initials from the names of two businessmen (Clark & Chan, 2014). The brand officially established its headquarters in London in 1930 and two years later Tesco Stores were up on the stock exchange as public limited company. With the passage of time, Tesco expanded its operations by acquiring rival stores of Like William and Harrow stores (Clark & Chan, 2014). In 1968, Tesco opened its first superstore in Crawley, West Sussex. The idea of superstores changed the experience of shopping for people. The decade of 1990s added different success stories in the history of the company as Tesco launched its first overseas store in Poland (Clark & Chan, 2014). In 2000, Tesco.com was launched while new ideas were introduced in the supermarket business. In 2009, Tesco opened its first bank. In 2013, for the first time in 20 years, Tesco reported a decline in its sales which is still visible in the form of its declining market share in…show more content…
The company is committed to provide quality products in affordable price to its customers. Tesco 's customers have the convenience to visit their stores, online or through different channels for shopping grocery items, merchandise, clothing and other services like telecom digital entertainment and banking etc (Tesco PLC, 2014). Tesco Clubcard was introduced in 1996 and it is a way of saying thank you to the customers. It provides information related to customers ' habits, trends and preferences for marketing purposes. The company also offer own brands to customers, for instance Finest, Everyday, Chokablok and Technika TV etc (Tesco PLC, 2014).
2.3. Core Purpose and Vision Tesco defines its core purpose in a simple statement which is "We make what matter better, together." Their core purpose reflects how much the society has changed and the large corporations should also shift their purpose beyond the boundaries of the profits (Tesco PLC, 2014). Tesco believe that though they can 't solve all the problems of the world but they can always do the right thing to earn the trust and loyalty of their stakeholders. Tesco 's vision for its business has five elements and each describes a different aspect (Tesco PLC, 2014).
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