Name: University: Course: Tutor: Date: Executive summary This report gives the description on the consideration of Tesco PLC a biggest retail chain store in UK in expanding into the overseas markets in Kenya. Various topics are discussed including the background of the company and its current situation and the overseas markets it is considering to expand to…
The report concludes by highlighting the possible problems likely to be encountered in the expansions and goes further in giving the recommendations on the overcoming these challenges. AUDIT Company background Tesco PLC is one of the leading companies among the food retailers in United Kingdom with a market share of 15% , the company not only sell food items but also other products including clothing, housewares , alcoholic beverages and gasoline. This company has its major markets in United Kingdom, Wales and Scotland where it has over 550 supermarkets where about 250 are superstores, it also operate in other countries under the various brands and a major independent gasoline provider in United Kingdom and because of its expansions of its operations and market it has emerged to be among the top multinational companies in United Kingdom. Tesco Stores limited was found in 1932 and has grew rapidly and for a number of decades it has grew rapidly, this was attributed by the acquisition of various grocery chains and the development of superstores which offered a variety of food and other non-food goods which were relatively less expensive. During 1970s the company has a slow because of the intense competition from other companies like J.Sainsbury PLC. There were price wars between the two Companies and this led to many small retailers driven out of the market, the strategies applied were mainly to win customer trust and loyalty. In 1983 it change its name to Tesco PLC and thereafter collaborated with Marks % Spencer and developed major shopping centres across other cities outside United Kingdom as well as launching of new products. In 1990s the company concentrated on the acquisition of new markets and development of new products and services, it expanded into the various countries by taking over and merging with other companies. The company aims at building a multinational empire in Europe by developing new and innovative products and services and to further seek opportunities to expand into overseas countries and markets. The more recent developments and innovations by the company include the introduction of Clubcard loyalty card, Tesco Visa card, Tesco saving accounts, Tesco personal Finance and the launching of its brands and products in the newly acquired and developed markets all these are aiming at consolidating the company hence ensuring that it has enough strength to venture in launching of new products and markets. Environmental analysis There are several factors which have led to Tecso PLC to consider in venturing and launching its operations in overseas markets notably are the business environmental factors which. This analysis is the evaluation of the Company external analysis comprising threats and opportunities and five business environmental dimensions are involved, these areas of dimensions include economic, legal-political, social cultural, technological and the future certainty. Economic These are the economic trends that have influence Tecso PLC to consider venturing in the in expansion to overseas markets, these factors that are comprises the target market includes: better terms of interest rates in the target market; higher economic growth rate, per capita income and disposable income; availability of a wider sources of power energy; lower and moderate rates of inflation and where there is moderate levels of employment in order to easily acquire ...
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(Global Marketing Strategy and Product Launch Essay - 1)
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