Tesco Utilising the Marketing Mix
Tesco Utilising The Marketing Mix
Tesco is one of the world’s international retailers and is recognised as the market leader in the UK supermarket sector. Tesco state that their core purpose is ‘to create value for customers to earn their life time loyalty’
Evaluate how Tesco and other supermarkets utilise the marketing mix to compete in the market place.
Tesco is the leading retailer with a market share in 2010 of 29.7% (Wright, 2012), a reason they have proven to be such a successful business is because of their well thought through slogan ‘every little helps’ which is simultaneously used to shape their core values, the slogan is now embedded throughout every aspect of the organisation. Tesco along with many other business use the marketing mix model, otherwise known as the 7 P’s to set effective business strategies in order to provide a good quality of service to their customers. To compare the broadness of the way the marketing mix works for different businesses another leading supermarket chain should be chosen. Asda in 2010 had a market share of 16.9% (Wright, 2012) also applies the marketing mix in considering any values or goals. Consequently their slogan is ‘Asda, always cutting prices’ Asda’s slogan is used similarly to Tesco’s as a means of shaping the business. This ethos is used in order to sell their brand effectively to get a higher amount of Revenue. In a highly competitive market, Tesco and Asda need to make sure the marketing mix model is considered effectively to ensure the business is strong enough to survive in the supermarket sector, meaning all core values must be relevant and work effectively for these profit orientated businesses allowing them to reinvest and develop their brands.
Price is a section of the marketing mix, when considering prices if a product is priced too low or too high, it could mean a loss of sales for an organisation. Tesco attempt to meet the consumers in the middle by having lower prices that still give them a
Tesco is one of the world’s international retailers and is recognised as the market leader in the UK supermarket sector. Tesco state that their core purpose is ‘to create value for customers to earn their life time loyalty’
Evaluate how Tesco and other supermarkets utilise the marketing mix to compete in the market place.
Tesco is the leading retailer with a market share in 2010 of 29.7% (Wright, 2012), a reason they have proven to be such a successful business is because of their well thought through slogan ‘every little helps’ which is simultaneously used to shape their core values, the slogan is now embedded throughout every aspect of the organisation. Tesco along with many other business use the marketing mix model, otherwise known as the 7 P’s to set effective business strategies in order to provide a good quality of service to their customers. To compare the broadness of the way the marketing mix works for different businesses another leading supermarket chain should be chosen. Asda in 2010 had a market share of 16.9% (Wright, 2012) also applies the marketing mix in considering any values or goals. Consequently their slogan is ‘Asda, always cutting prices’ Asda’s slogan is used similarly to Tesco’s as a means of shaping the business. This ethos is used in order to sell their brand effectively to get a higher amount of Revenue. In a highly competitive market, Tesco and Asda need to make sure the marketing mix model is considered effectively to ensure the business is strong enough to survive in the supermarket sector, meaning all core values must be relevant and work effectively for these profit orientated businesses allowing them to reinvest and develop their brands.
Price is a section of the marketing mix, when considering prices if a product is priced too low or too high, it could mean a loss of sales for an organisation. Tesco attempt to meet the consumers in the middle by having lower prices that still give them a
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