Strategic Planning Process Of Tesco

AC 1.2: Explain the process involved in strategic marketing
Tesco Strategic marketing planning process seeks to develop a clear direction and unified purpose for marketing efforts.
Strategic marketing process of Tesco involved 5 steps:
1- Identifying a Mission
2- Analyse the Situation
3- Setting Objectives
4- Developing a Marketing Strategy
5- Planning for Evaluation

1- Identifying a Mission
The first step is just like a base of strategy and it sets a direction that where to go. To articulate the mission statement for anticipating future benefit from target customers can give great help in identifying a mission. It also includes a clear explanation of ongoing role for the services and goods of the organisation. For instance, an airline could

In this step organizations use to conduct SWOT analysis to evaluate and understand the internal and external resources of organisation so that they can build on solid strategy and then can face the challenges. For example, using a best quality technology would be a best part for smart phone while having poor relations with dealer would be a weakness. If we talk about Tesco SWOT analysis, it gives great feeling of how good it is. They have minimized their weaknesses and growing their market very quickly. The growing of their business is creating maximum opportunities in the market with minimizing different

Our vision guides the decisions and direction that we take as an organisation. Tesco is a company built around colleagues and customers with high quality assets around the world and multiple opportunities for growth and these characteristics are referred as central to our for the business.
We want Tesco to be the most highly valued and trusted business by the customers we serve, the communities in which we operate, our loyal and committed colleagues and of course our shareholders.

AC 1.3: Evaluate the links between strategic marketing and corporate strategy
Corporate strategy
Corporate Strategy is set up with overall business concept and planning. The CEO of the organisation is responsible for setting the overall corporate strategy. The primary objective of corporate strategy is to focus primarily on profitability. In an organisation, corporate strategy should be developed before developing strategic marketing.
Corporate strategy includes:
- Creating an organizational structure
- Reduction of debt to improve the balance sheet of organisation
- Diversification of product
- Service line for increasing profits
- To decrease the dependence on one