MARKETING STRATEGIES OF TESCO

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Marketing is simply selling strategy product or service to the customers. It is also related with a company’s strategic activity and integrates market understanding to bring products or services to market or even develop a new market for a product, (Berman and Evans, 2013). Furthermore, Marketing is the social process by which an individual and organisations obtain what they need and want through creating and exchanging value with others, (Kotler & Armstrong, 2010). Moreover, it is an organisational function which is set out for creating, communicating, and providing value to the customers in achieving the benefit for the organisation and its shareholders, (Kotler & Keller, 2012).

The nature of marketing is either a science or an art: it can be defined as science because it uses science realism. Alternatively, it uses specific principles and rules for marketing products, or services rather than scientific rules. Therefore, it is not an independent variable as a science or an art rather than it has business functional integrity with other substances, (Mundra, 2010). Furthermore, it includes human behaviour and experience to fulfil daily life things such as need, want, and demand. Therefore, it is understood that marketing is required to meet the demand of the target market in achieving customer satisfaction.

Marketing is a way to present products to target customers in any market. Businesses around the world need to adopt a sustainable marketing strategy to gain competitive advantage over its competitors. Tesco Marketing team has focused to gain competitive advantage by using advertisement, promotional offers, club card, occasional discount, and buy one get one free. It includes with the market research with all aspects of business trend and future planning or opportunities, (Varadarajan, 2010). The goal of Tesco Marketing Strategy is to help clients achieve maximum satisfaction in effectively fulfilling their demands and expectations on product, price, distribution channel and promotional techniques. By using strategic marketing plan, Tesco has gained competitive advantage and becomes one of the world’s largest retailers (Humby et al., 2008).

P2 Explain how roles and responsibilities of marketing relate to the wider organisational context such as sales and warehouse departments so as to maintain the required level of stock.

Marketing mix is known as tactical or operational part of a marketing plan. It is based on 4p’s: Products, Price, Place, and Promotions. Marketing mix is defined as “the set of adjustable tactical marketing tools to produce that strong mix of products, prices, place and

promotion that it wants to target market, (Kotler and Armstrong, 2010)”.