How to Write a Summary of an Article? TESCO Lotus This essay is to written in to express my opinion on group 4 presentation on Tesco Lotus marketing channel and further analyze the marketing channels in more details. Tesco Lotus has undoubtedly changed the way people in Thailand goes to supermarket since it entered Thailand in and now has over Stores as part of a joint venture with CP Group.
Related Introduction Tesco has been proficient at customer acquisition and customer retention. This paper gives a brief over view of the marketing strategies currently being employed by Tesco to acquire and retain customers.
Product, Price, Promotion, Place. Market Segmentation and Generic Strategy The UK retail industry is very competitive with a number of big retailers competing for market share. This competency has been built by adopting an effective marketing segmentation that targets a wide range of the UK demographic.
Tesco specifically targets the middle and low-income earners with its broad based cost leadership strategy, which aims to sell value products using a cost effective approach Humby et al, The methods and processes in which Tesco leverages its competences in successfully targeting its target demographic are outlined with the following marketing mix analysis.
Tesco sells both food and non-food items. It has strong focus on grocery retailing and most recently, non-grocery are accounting for increasing proportion of sales.
Tesco also provides number of service including insurance, finance, telecoms, and computer software and has significant petrol forecourt business. Tesco also has a website which allows consumers to sell their homes privately and thereby cut estate agents.
In addition to selling branded products, Tesco also sells private label products. Tesco started aggressively promoting the private label products over and has been pursuing this strategy in in order to offer the cheapest product on the market.
The initial strategy of promoting private label products was to make direct price comparison with branded goods on the assumption that huge price difference between the branded products and private label would compel a customer to go for a cheaper private label product.
However, this did not go down well with the suppliers of branded products and following their complaints, Tesco abandoned this strategy.
However, this strategy provided them with initial momentum to promote the private label. Presently, a service on a Tesco website flags branded goods if there is a private label product available at a lower price. By using the private label model, Tesco has appealed to wide cross-section of UK consumers by providing them distinct range of products from Value to Finest.
This has helped Tesco in increasing their consumer base. Also for the health conscious consumers, it has Healthy living, Organic and Wholefoods ranges.
In areas like Upton Park in London, where there are high level of residents from Asian origin, it has a strong offer of Asian produce.
In contrast, another of its outlet in Brixton in London has a strong offer of Afro- Caribbean produce. Using this strategy, the retailer is maximizing the potential of its consumer base Humby et al Tesco, Therefore, it can buy products at the lowest possible price and sell it lower than most of its competitors.
It uses pricing as a competitive tool. In more depressed areas, the products are lower priced whereas in affluent areas, the products are higher priced. In response to the competition by Discounters Aldi and Lidl, it rolled out lines of discounter range and also announced in earlythat 3, products would have their prices cut.
Tesco is also experimenting with a trial format called Homeplus. The different formats of Tesco are as follows. Express Up to 3, sq ft offers customers great value, quality and fresh food close to where they live and work Metro approx 7, — 15, sq ft format brings the convenience of Tesco to town and city centre locations.
Superstore approx 20, 50, sq ft were initially selling only food ranges but are now slowly diversifying into non-food ranges Extra approx 60, sq ft and above offers wide range of food and non-food lines. Homeplus approx 35, sq ft to 50, sq ft are dedicated to non-food, including clothing.
It also provides an opportunity to buy products and services at many partner firms. The entire objective of this ClubCard campaign has been to up-sell to existing customers by understanding them better and meeting their needs.
Tesco offers fewer short-term promotions in favour of more long-term measures.Contents List of figures 3 List of Tables 3 Introduction 4 1.
Marketing mix using Tesco Poland as an example 5 Products 5 Price 6 Place 6. A proposal for a new market strategy for the Thomas Burberry London perfume range Impact of passenger services in Ethiopian Airlines Market Is Tesco An Ethical Market Leader London House Price market Products, Services And Prices In The Free Market Economy Products, Services, and Prices in the Free Market Economy Products, Services, and Prices.
Essay by Jas, University, Bachelor's, B-, April Apart from this, the current Marketing Mix?product, price, promotion and place is being improved to meet its new mission. Let me talk about them in details.
Tesco sets its prices based on going-rate pricing. Tesco aims to be the cheapest supermarket in the UK/5(11). Product in the Marketing mix of Tesco. Tesco provides a wide range of products that include food, Price in the Marketing mix of Tesco. Place in the Marketing mix of Tesco.
It is headquartered in Chestnut, Hertfordshire, England. Its stores are spread far and wide in the world. Below is an essay on "Marketing Mix (4Ps) Of Tesco" from Anti Essays, your source for research papers, essays, and term paper examples.
PRODUCT: When marketing the product, the nature of the products plays a huge role. Tesco - Product, Price, Place and Promotion Essay - Tesco - Product, Price, Place and Promotion Product, price, place and promotion are all essential factors that Tesco need to take into consideration when ensuring the success of their business.