Discuss how retail companies have adapted their business strategy to address the needs of specific global markets

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Retail is the sale of goods and services from individuals or business to the end-user(Harper 2008). Getting the right goods to the right markets in response to or anticipation of consumer demand is the key function of marketing. Unlike selling which is primarily concerned with the needs of the seller, marketing is primarily concerned with the needs of the buyer. In the last thirty years British retailing has undergone major changes in both its commercial and economic organisation and in its geographical character. However, with the intensification of the process of globalization there still have many challenge to the retail companies to solve. In this essay I will argue that, the retail companies adapted their strategy to address the needs…show more content…
Tesco, as a major food manufacturer, in a very competitive market sector, it is the UK 's largest grocer and the most successful Internet supermarket. The recent history of Tesco is the story of a retailer 's successful evolution: its diversification into new businesses and in particular its leap-frogging of long-standing market leader Sainsbury 's to become the number one UK retailer. As self-service high street supermarkets were superseded by superstores and megastores, consumers became anonymous in exchange for improved choice and value. With the global business strategy, competitive advantage usually comes from common global brands and from concentrated production activity that has been sited to deliver significant economies of scale and resource souring. There may be some adjustment of the product or service for local needs but essentially it is the same around the world. The term 'globalisation ' is used to cover three main area, which is globalisation of economies, trade activities and regulatory regimes; globalisation of industries; morality of globalisation. Under this generation, Tesco launched some project to meet different needs from different customers. Such as launched Clubcard to win customer loyalty.

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