Marketing and Its Components
Table of contents
Environmental analysis of UK: 3
Political: 3
Economic: 3
Social: 4
Technological: 4
Control of Tesco over environmental factors: 4
Competitors: 4
Customer: 5
Inflation ratio: 5
Technological advancement: 5
Creating and sustaining competitive advantages: 5
Product life cycle: 7
Diffusion of innovation strategy: 8 Section 1:
Environmental analysis of UK:
In order to achieve success in implementing some marketing plan, PEST analysis plays a major role because it allows the organizations to do a complete analysis of political, economic, social and technological aspects of the organization and the evidence can be taken from the example of Tesco UK. The success factor of Tesco can be analyzed from the marketing strategy it has assumed in order to deal with the potential customers of United Kingdoms. However, this company has taken all the basic concepts of marketing under consideration while making its strategic plan. Here is the PEST analysis of Tesco UK.
Political:
The organizations which have political backup and keeps the political aspects under consideration while marketing its service get promulgation within no time. For instance, Tesco is an international supermarket; its policies are always compatible to the regions in which it provides its services. In UK, it has also kept this thing under consideration and that’s why, got exceptional response from the customers. In this regard, following steps have been taken:
• It has fulfilled legislative requirements of United Kingdoms
• There is no violation of Labor law, environmental law, trade law, health and tariff restrictions
• Policies have been developed keeping the political scenarios under consideration
• Tesco has also developed its own ethical and sustainability policy keeping the national ethical policy of UK in view
Economic:
Since UK market is one of the most sensitive markets of the world, economic sustainability is another factor that needs
Environmental analysis of UK: 3
Political: 3
Economic: 3
Social: 4
Technological: 4
Control of Tesco over environmental factors: 4
Competitors: 4
Customer: 5
Inflation ratio: 5
Technological advancement: 5
Creating and sustaining competitive advantages: 5
Product life cycle: 7
Diffusion of innovation strategy: 8 Section 1:
Environmental analysis of UK:
In order to achieve success in implementing some marketing plan, PEST analysis plays a major role because it allows the organizations to do a complete analysis of political, economic, social and technological aspects of the organization and the evidence can be taken from the example of Tesco UK. The success factor of Tesco can be analyzed from the marketing strategy it has assumed in order to deal with the potential customers of United Kingdoms. However, this company has taken all the basic concepts of marketing under consideration while making its strategic plan. Here is the PEST analysis of Tesco UK.
Political:
The organizations which have political backup and keeps the political aspects under consideration while marketing its service get promulgation within no time. For instance, Tesco is an international supermarket; its policies are always compatible to the regions in which it provides its services. In UK, it has also kept this thing under consideration and that’s why, got exceptional response from the customers. In this regard, following steps have been taken:
• It has fulfilled legislative requirements of United Kingdoms
• There is no violation of Labor law, environmental law, trade law, health and tariff restrictions
• Policies have been developed keeping the political scenarios under consideration
• Tesco has also developed its own ethical and sustainability policy keeping the national ethical policy of UK in view
Economic:
Since UK market is one of the most sensitive markets of the world, economic sustainability is another factor that needs