Tescos Competitive Marketing Strategy Essay Example | Topics and Well Written Essays - 3000 words

Tescos Competitive Marketing Strategy - Essay poserAs the discussion highlightsTesco commenced its trading activities in 1924in UK and as on date, it is having more than 2979 stores in UK, and it earned straighten out revenue of 43 billion in 2012 with UKs net profit being 2.5 billion in 2012. In UK, Tesco is the leading supermarket and about one-third of UKs selling space and 66% of total sales every(prenominal) the supermarkets in UK are catered by Tesco. Tesco is having hypermarkets, convenience stores and superstores.From this paper it is clear thatTescos core strategies are as follows to concentrate more on the UKs core to become the world leading retailer in online sales and stores Tesco is a market leader in food items and wants to be stronger in other products withal to concentrate to develop the retail services in all our markets to develop and have got high-value brands.Tesco is having its operations in the following countries viz. USA, Europe Turkey, Czech Republic , Poland ,Hungary, Slovakia and Republic of Ireland, Asia India , China , South Korea , Malaysia and Thailand.In the close two decades, Tesco had witnessed teething issues in its aggressive marketing plans. Tesco witnessed a fall in sales delinquent to well structured and impregnated supermarkets in the UK, a lot of impediments in getting plan approval for its lifesize superstores, witnessed cutthroat competition from Safeway, Asda & Sainsbury.Tesco growth and success over the past three decades rest upon its transformation of work out and strategy.. Tesco has to change its marketing strategy to sell various kinds of customers namely lower, middle and upper class consumers with an comprehensive offer stratagem, and their market strategy is to sell high quality products at a realistic price. In 1998, it introduced the finest range of premium products and was followed by the introduction of Tescos Organic range, which was introduced in 2006. Later, it introduced Tescos Healthy invigoration range of products and in 2008, it introduced Value range products to attract the price-conscious clients, mainly to meet the confronts thrown by the recent economic recession. Tesco is able to attain high revenues by developing a vast range of own brands. Tesco has shifted its core business strategy to maximise the customers value from that of maximising shareholders value. (Aaker & McLaughlin 2010128). Tesco has evolved a diversification strategy footed upon on four core areas expanding and innovating in the main UK grocery market and modify into segments like convinient stores expanding into non-food businesses like health, clothing , beauty , DVDs , CDs and diversified into developing into its own non-food Value and Finest ranges diversified into retail service provinces like personal finance for utilities and telecoms by signing joint ventures with local players it concentrated into its internationalistic expansion, which successfully accounted for one-fourth o f its sales in the year 2008-09 . (Aaker & McLaughlin 2010128). Global PositioningAccording to Sheth, a phoners marketing strategies should be fine-tuned in the phase of