Strategic marketing management

7451 WordsJan 25, 201430 Pages
Chosen organisation: Tesco Overview of Tesco Company: TESCO Company Type: Public Limited Company Industry: Retailing Founded: 1919 (East London) Founder: Jack Cohen Headquarters: United Kingdom, England No of locations : 6351 stores Key People: Sir Richard Broadbent (chairman), Phillip Clarke (ceo) Revenue: £64.539 billion (2012) Net Income: £2.806 billion (2012) Total Assets: £50.781 billion (2012) Total Equity: £17.775 billion (2012) Employees: 519,671 (2012) Subsidiaries: Tesco Stores Ltd, Tesco Bank, Tesco Mobile Website : www.tesco.com Strategic marketing management is the process of formulation, estimation and implementation of marketing strategy by an organization. Indeed a marketing strategy…show more content…
To sell its product, it has to cover maximum area. As Swedish people are technology savvy, internet selling can be a option, Communication is very important, if product is not made known to the local and every people then the product launch would be a failure. Heavy marketing campaign will be carried to communicate to the common people in the vast geographical areas such as TV and radio repeated interval all day, Local newspaper, Media PR the alliance partner to issue press releases and talking to local people about Tesco and benefit such as availibity of jobs. Political PR, Billborad campaigns, Direct mailing, flyers, and internet ads and so on. Task 2 Explain the processes involved in strategic marketing. Tesco 's marketing strategy is based on customer surveys to find out their product needs and wants. Through their marketing research, they have realized that customers want a one-stop shop where they can get all their commodities under one roof. As such, they are able to stock items from clothes and food stuff to car accessories such as tyres and batteries. Strategy frameworks and structuring tools are key to assessing the business situation. Risk and value trade-offs are made explicit, leading to concrete proposals to add value and reduce risk. Explicit plans for action, including effective planning need to be developed by Tesco as the strategic alternative. From the generic strategies
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