Marketing Principles Tesco
MARKETING PRINCIPLES
1.1 Illustrate various element of marketing process.
Marketing is process of interesting potential customers and clients in product or service. Marketing process consist of four steps, completed whit the goal of creating value for the target customers. Some of the element are development of communication marketing plan, monitoring the marketing environment, segmentation, targeting and positioning.
Ref(http://sbinfocanada.about.com/od/marketing/g/marketing.htm)
Ref(http://wiki.answers.com/Q/Explain_the_various_elements_of_marketing_process)
Ref(https://www.google.co.uk/search?q=marketing+process+elements&hl=en&source=lnms&tbm=isch&sa=X&ei=26Y0UeqxN-)
1.2 Marketing oriented approach to developing new product. Benefits and cost to Tesco.
Marketing orient approach to develop new product means a business develops products based on what customers need and want, rather that what the business thinks is right for the customers. Most successful business takes a market-oriented approach.
Tesco is top leading retailer in UK. It manages thousand shops in UK, Ireland, Central Europe and Asia. Tesco brand first appear I 1947 when he bought shipment of tea from MRT E.Stockwell. From that time Tesco slowly improve in retail business and now they are take top position in UK retail business. Tesco aim is to provide best products for their customer and make sure for customer requirements.
Benefits of marketing approach for Tesco: -high customer satisfaction -increase sales and market share -maximize profit -enhanced competitive advantage -improved corporate image
Cost of marketing approach for Tesco: -increasing customer expectation -staff training and development needs -technology requirements for customer contact and improved ways of doing business -increase resource demand to providing customer specific marketing -complex customer needs and power
1.1 Illustrate various element of marketing process.
Marketing is process of interesting potential customers and clients in product or service. Marketing process consist of four steps, completed whit the goal of creating value for the target customers. Some of the element are development of communication marketing plan, monitoring the marketing environment, segmentation, targeting and positioning.
Ref(http://sbinfocanada.about.com/od/marketing/g/marketing.htm)
Ref(http://wiki.answers.com/Q/Explain_the_various_elements_of_marketing_process)
Ref(https://www.google.co.uk/search?q=marketing+process+elements&hl=en&source=lnms&tbm=isch&sa=X&ei=26Y0UeqxN-)
1.2 Marketing oriented approach to developing new product. Benefits and cost to Tesco.
Marketing orient approach to develop new product means a business develops products based on what customers need and want, rather that what the business thinks is right for the customers. Most successful business takes a market-oriented approach.
Tesco is top leading retailer in UK. It manages thousand shops in UK, Ireland, Central Europe and Asia. Tesco brand first appear I 1947 when he bought shipment of tea from MRT E.Stockwell. From that time Tesco slowly improve in retail business and now they are take top position in UK retail business. Tesco aim is to provide best products for their customer and make sure for customer requirements.
Benefits of marketing approach for Tesco: -high customer satisfaction -increase sales and market share -maximize profit -enhanced competitive advantage -improved corporate image
Cost of marketing approach for Tesco: -increasing customer expectation -staff training and development needs -technology requirements for customer contact and improved ways of doing business -increase resource demand to providing customer specific marketing -complex customer needs and power