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Essay example - Marketing Principles: Tesco Plc
Pages 5 (1255 words)
Marketing Principles: Tesco plc Tesco plc is the grocery market leader in the UK and the second largest retailer, measured in profits, after Wal-Mart. It is the third-largest retailer in the world when measured in terms of revenue after Wal-Mart and Carrefour…
Extract of sample
A proposal on how they can position a product in a new market will also be examined towards the tail-end of this report. Micro and Macro Environmental Effects Micro: The micro environment mostly consists of the various factors that impact the company’s operations directly or indirectly especially from an internal perspective (Drucker 2008:10). Rivalry is one of these factors. Tesco has several rivals in the business such as Morrison and Sainsbury’s and needs to keep its position in the market. They have to make sure that their quality, pricing, products and convenience keep them above their competitors. This is because these are some of the strongest factors that may drive profits to zero if not looked into carefully (Drucker 2008:12). Threat of substitutes is another factor that needs to be considered. This is because the products may be sourced from other companies in the same business environment and this would reduce its attractiveness to its clientele. It is, however, benefiting from its bulk purchases since it gets its products at cheaper prices and with greater benefits trickling down to the clients at the end of the day (Lancaster and Reynolds 2005:9). Suppliers also determine how a company fairs. This is a horizontal factor that needs to be highly regarded. ...
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