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Marketing strategies for growth overseas at Tesco
Finance & Accounting
Pages 11 (2761 words)
Marketing strategies for growth overseas at Tesco BY YOU YOUR SCHOOL DATA HERE DATE HERE Marketing strategies for growth overseas at Tesco 1. Background Marketing strategies are organisation-wide programmes that help to identify a specific target market and then developing processes and systems to satisfy consumers in the chosen market through focus on elements of the marketing mix.
The marketing strategy determines the strategic objectives of the business and also centres it as a market-oriented system designed to fulfil consumer needs. An international marketing strategy must consider the external forces that impede or enhance profit and branding success. These include the five forces offered by Michael Porter associated with new entrants, supplier and buyer bargaining power, competitive rivalry and threat of substitute products on the market (Fitzsimmons and Fitzsimmons 2010). International marketing strategies provide value, competitive advantage and specific focus as a means to leverage against competitive forces. The strategies associated with elements of the marketing mix position the business against other rivals and, in a well-laid strategy, differentiate the business from existing competition. It is important to develop an international marketing strategy when operating as a multi-national since the socio-economic and socio-cultural backgrounds of diverse consumers influence business decision-making. In one region, consumers may be highly homogenous related to their demands and expectations related to product and service whilst in another foreign operating territory, radically different respectively. ...
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