Exploring the Different Aspect of the Marketing Principles in Business Title of the Course: Higher National Diploma (HND) in Business Title of the Module: Marketing Principles Name of the Student: Student ID: Date of the Submission: Contents Introduction: 2 Executive Summary: 2 LO1: Understand the concept and process of Marketing: 3 1.1Explain the various elements of the marketing process: 3 1.2 Evaluate the benefits and cost of marketing orientation for Tesco: 4 LO2: Be able to use the concepts
Introduction Strategic marketing management is the pathway which assists an organization in implementing its marketing strategies to achieve competitive advantage in the market. An organization needs to get to know the principles of strategic management to determine the role and process involved in strategic marketing. It also generates links between corporate strategy and marketing strategy. There are different value model used in strategic planning having to understand about the tools which are
REPORT ON THE MARKETING STRATEGIES AND FRAMEWORK IMPLEMENTED BY TESCO PLC. 1.0 Introduction Tesco PLC is a British multinational grocery and general merchandise retailer. The company is well known for selling food and general items but over the years it has developed and now has branches in finance, insurance, technology and many more. The variety and value for money that Tesco is able to offer its consumers has allowed them to secure the position of number one retailer in the UK in 2015 in terms
the contribution of the key business functions to the changes implemented in the organization. (Finance, Marketing, Operations, and Human Resources). Also, it will explain the key stakeholders of the organization and the key issues in managing stakeholders. Furthermore, it will include a SWOT analysis and a Power and Interest Matrix about Tesco. Business functions In the case study of Tesco, it is stated that they will appoint more staff to win their customers back. This step is related to Human
Marketing communications plan – Tesco Planning for integrated marketing communications The overall marketing communications campaign is analogous to a war. The many battles within the campaign are the communications mix elements or geographical areas targeted. For example the advertising campaign is a series of advertisements, and the activities that help produce them, which are designed to acieve interrelated goal. Intererated marketing communications, 2009 Like most business plans, the intergerated
Marketing is a two-dimensional process and it is defined as aset of processes with a view tocreate, communicate, deliver, and exchange offerings that have value for customers, partners, clients, and society at large(American Marketing Association, 2013). Marketing process isa set of steps and actions associated with idea generation, need identification, coming up with a product or service and marketing that product or service in the relevant market to fulfill that need. Marketing process of Tesco
grocery industry is a huge, fragmented and enormously competitive environment and there are currently several examples of grocery companies that are making effective use of the internet as a link with customers (Delaney-Klinger, 2003). In particular, Tesco currently have internet channels for selling groceries that are profitable (Hall, 2001; Koller, 2001). During the late 1990’s many new companies were set up to utilise the perceived advantages from using the internet in business, however, with their
of information used in Tesco. A I will start by defining information. Information is defined as the knowledge of specific events or situations that have been gathered or received by communication, intelligence or news. The first type of information I will talk about is verbal. Verbal communication is part of the day to day activities of Tesco. VERBAL: verbal communication entails the face to face expression of views and ideas or sometimes across the telephone. In Tesco verbal information is
into a small group of people within my class and was asked to prepare a PowerPoint presentation of no more than 10 minutes addressing the various elements of the marketing process and the benefits and costs of a marketing orientated business giving examples. (PowerPoint presentation attached and notes) Overview/Reflection of Marketing Presentation First of all, to be put in a group of individuals that I had never met or interacted with before was always going to be difficult. The process of
P1: Describe how marketing techniques are used to market products in two organisations Tesco: Growth Strategy Tesco has a well established and reliable strategy for growth, which has allowed them to strengthen their business and drive expansion into new markets. The underlying principle for the strategy is to expand the range of business to allow them to deliver strong sustainable long-term growth by following the customers into large expanding markets such as financial services, non-food and