Essay on Tesco

3973 Words Mar 11th, 2014 16 Pages
Analysis of Tesco’s Marketing Strategies

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Table of Contents
1.0 SUMMARY 3
2.0 INTRODUCTION 4
2.1 BACKGROUND 4
3.0 CURRENT SITUATION 5
3.1 PESTEL ANALYSIS 5
3.1.1 Political 6
3.1.2 Economic 6
3.1.3 Social 6
3.1.4 Technological 7
3.1.5 Environmental 7
3.1.6 Legal 8
3.2 SWOT ANALYSIS 9
3.3 DIFFERENTIAL ANALYSIS/COMPARATIVE ADVANTAGE – USP 9
4.0 RECOMMENDATIONS 9
4.1 SEGMENTATION TARGETING AND POSITIONING (STP) 9
4.1.1 Segmentation 9
4.1.2 Targeting 10
4.1.3 Positioning 10
6.2 MARKETING OBJECTIVES AND GOALS (SMART) 11
4.3 MARKETING MIX (4P’S) 12
4.3.1 Product 12
4.3.2 Price 13
4.1.3 Promotion 13
4.1.4 Place 14
6.0 References 16
7.0 Appendices 19
7.1
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As Meek et al (2002) explains it, analysis of the market can lead to various recommendations for improvements. Such recommendations are change of pricing strategy and exploiting underserved niche. Raised prices can increase profitability, but they can maim sales volume. So in order to counteract the rise, product value proposition must be emphasized. As for Market niche, the firm identifies a particular market that is neglected, like low income earners. Most importantly, the company will need to improve on its customer care service so to reinforce the satisfaction of its customers.

2.0 INTRODUCTION

This report is focused on evaluating and critically analyzing the present marketing strategies used by Tesco, which is the world leader in grocery and food retailing. Tesco has 4300 stores located in US, Europe and Asia. This strategic evaluation uses the following tools, PESTEL, SWOT, and Differential Analysis (USP) to understand the current situation at Tesco. The second part of this report provides recommendations on how the company can improve its marketing mix in the future. The recommendations are for the strategies that will enhance the company’s market in Europe, US and Asian markets.

2.1 BACKGROUND

Tesco is one of the world’s leading food and grocery retailers with more than £500 million

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