Business Strategy

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Business Strategy



Task 1
Task 2
Task 3
Task 4
List of References

Task 1.1
Organization I came up with is Tesco as it is one of largest retailers in the UK as well as globally. Its UK business contributes 60% of all revenues and profits in the retail market. It provides with diverse variety of food compared with its rivals. It generates over one billion pounds per annum in its Finest and Everyday Value ranges food brands.
It’s marketing philosophy of every little help attracts communities, consumers as well as employees whatever they perform. Tesco takes great honour in delivering an exceptional shopping experience
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Specific industry trends can be incorporated in the planned strategy. Strategic plan are not long term and must avail the opportunities in the next twelve to twenty four months.

Task 2.1 and 2.2
Carrying out Tesco marketing audit; the marketing audit is an important element of market planning process. It is carried out at the beginning of the procedure as well as during and after the completion of the procedure. Own plan as well as internal and external factors that impact marketing planning is considered in the marketing audit. There are few vital techniques adopted by marketing audit like SWOT analysis for the internal and external environment plus for the external environment only; PESTLE and five force analysis is used.
Explanation of marketing audit is that is in fact the total analysis of the environment which consists of internal as well as external environments of any company. The components are
Environmental audit that comprise of macro environmental audit as well as micro environmental audit. marketing strategy audit marketing organization audit marketing system audit, marketing function audit marketing productivity audit.
Applying organizational and environmental auditing techniques in a given scenario
Tesco deals with retails sales of food products and household item.
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