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marketing management exam - Essay Example
Author : hartmanndesiree
Pages 8 (2008 words)
Marketing Management Exam Q.1. Produce a 2 Year Marketing Plan for a Company of Your Choice. Tesco PLC is one of the leading and UK’s strong core business entities operating in the global retail sector. A key strength of Tesco has been its ability to grow continually by offering greater value for the customers and keeping itself cheaper than its consumers…
However, summed with faulty anticipation of the market trends and too much investment in a particular project to support its aggressive marketing strategies, Tesco also had to face significant challenges in securing the desired return on its investment along with affecting its market reputation to a considerable extent. Illustratively, it was because of the same reason that the launching of Tesco’s fresh and easy store failed in the US market recently. Marketing Plan for the First Year: One of the major problems that Tesco is facing is maintaining accuracy in anticipating the changing needs and wants of the customers. Therefore, in the first year, Tesco should build such product management strategies that could identify the tastes and preferences of the potential customers. Besides ensuring the quality while offering the products to its potential customers, Tesco shall also try to renovate the older products according to the tastes and preferences of the customers to augment their demand. Similarly, as a market leader and to make a stronger appeal to its customers, Tesco should note that in the modern world the customers are becoming increasingly quality driven. ...