What Are The Main Problems, Inconvenience, Poor Marketing Changing Internal And External Difficulties Company Facing Today

1171 words - 5 pages

Topic: What are the main problems, Inconvenience, poor marketing changing internal and external difficulties company facing todayIntroductionTesco Plc is a large general merchandise and international grocery retail chain founded in yes 1919 in London. Tesco is the world second largest retail chain in terms of profits. It has the largest market share in UK with profits in billions. Tesco originally specialize in its food and beverages industry. The reason for its growth is its customer focused marketing strategy, offering better value, providing cheaper products and choice for the convenience for customer. Tesco`s retail stores are divided into different sizes according to the range of products offered. These includes Tesco Metro, Tesco super store, Tesco Extra and Tesco express stores.Tesco continuously expands its business by expanding its product ranges, Tesco offer vide variety of food and non-food products on relatively cheaper prices when compared with other large retailers. The success of business is due to its business and marketing strategy. Tesco products are targeted and segmented to individuals needs. During 2010 Tesco lost its market share and despite of recession it was able to generate a profit of £3 billion. In year 2011 Clarke took charge as CEO developed the six point strategy to improve the business onto its feet within 18 months. The aim was to improve the service quality, prices and promotion. But still business performance remains low in UK. The recent market data indicates that Tesco is continuously losing market share.Internal AnalysisOne of the main strengths of the business is its large number of stores, But still they are unable to compete with their biggest rivals the discounters(Aldi and Waitrose). However Tesco has developed robust marketing strategies which could have helped business to grow. They focused their marketing effectors "Love every mouthful" positioning and "Price Promise" scheme. The aim of these strategies are to provide customers with both a good quality and prices, which is in fact a competitive strategy. Tesco has invested £1 billion in its stores to "put the love back" in its stores, the aim of this investment is to improve the service quality where service standards had slipped (Sarah, 2013). Technology is the main add advantage in the business as Tesco has implemented the online grocer model. In order to improve the customer experience Tesco has invested a large amount in deploying self-checkouts in many stores where the service quality was compromised. On the other hand company has hired more individuals to promote Tesco values and to become a good resource for its customers. Tesco has focused its marketing initiatives to promote its range of quality products in less price by product diversification and new product development. Despite of these advancements the business growth is slow. Matt Piner commented that Tesco should focus on developing a clear identity for its food proposition...

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