Got a tricky question? Receive an answer from students like you! Try us!

Market-Led Strategic Change at Tesco plc - Research Paper Example

Only on StudentShare
Author : abbottjuvenal

Summary

This paper is a critical analysis and evaluation of the extent to which Tesco plc successfully manage four themes of Piercy (2002): marketing programmes and actions, total integration, strategic internal marketing, and the market-led strategic change (MLSC) agenda.

Extract of sample
Market-Led Strategic Change at Tesco plc

The second applies the analysis to Tesco plc, providing relevant examples.
Companies develop marketing plans to know how it should direct its efforts towards bringing a particular product or brand to market. The plan acts as a roadmap, a set of guidelines to ensure success, and contains an analysis of the target market, the marketing objectives, and the marketing mix, which explains in detail the selected strategy for the product, its promotion, distribution, and price (Cohen, 1995).
The quality of a marketing plan depends on the assumptions it makes about the customers and the basis for those assumptions, how the marketing objectives are defined, and how the marketing mix are analysed; above all, how it is put into action (Shark, 1994).
Traditional literature on marketing programmes and actions such as by Wind and Claycamp (1976) identified the development of product policies (brand, quality, and value) as the most critical element of a marketing plan because this is how companies can engage customers and meet their needs.
As Peter and Donnelly (1997, p. 127) observed: "developing new products is the lifeblood of successful business firms". Crawford (1994, p.9-11) categorised "new products" as follows: new to the world (inventions), new for the firm, additions to product lines, product improvements, and repositioning (retargeting for new use or application).
Major changes in the marketplace, media and communications, ...
Download paper

Related Essays

Tesco Analysis
At first an extensive background of the company is given, providing the data on the past of the corporation. Tesco walked through a considerable number of obstacles on its path with a single principle: price is the most considerable factor in retailing. While using 'pile it high, sell it cheap' strategy the firm has made its name on the three main notions: perfect use of online retailing, perfect meeting of customers' demands, and perfect pricing policy. More detail to these factors is given in the next part of the report. After that the report dwells on the market environment surrounding…
11 pages (2761 words)
Marketing Strategy at Tesco plc
Superior service quality leads to favourable behavioural intentions, customer retention, a constant revenue stream, increased spending, willingness to pay price premiums, and word-of-mouth advertising and customer capture. Verbalising good intentions is merely the first step in creating a positive attitude of satisfaction, but the second more important one is delivering on the good intentions. Kotler (1977) emphasised that a market-orientated business must focus not only on selling but on customer satisfaction but failed to emphasise the disconnection between the two. Zemke and Schaaf (1990,…
7 pages (1757 words)
STRATEGIC REVIEW OF TESCO PLC UK
By understanding the environment in which you operate (external to your company or department), you can take advantage of the opportunities and minimize the threats. (RAPIDBI)…
10 pages (2510 words)
Financing Decision: Case of Tesco and Sainsburys
75% of sales are made in supermarkets and superstores owned by large multiple supermarket chains, with the remainder consisting of sales at small convenience and traditional retail stores accounting for a decreasing 7% of total sales (Defra, 2006, p. 1-2).…
8 pages (2008 words)
Corporate Strategic Review on TESCO
In 1964, Tesco's innovativeness was put to a challenge when the British government imposed the Resale Price Maintenance System, a law that mandates all retailers to charge a set price for their products. However, Tesco found a way through it and introduced trading stamps so that it could bring lower prices to its customers. Customers collected these stamps as they purchased groceries and other items.…
6 pages (1506 words)
STRATEGIC MANAGEMENT
However, their policy since the beginning had been “Pile it high and sell it cheap” (ICMR, 2005) which adversely impacted their brand image. When Britain imposed the Retail Price Maintenance Act which prevented the retailers from selling goods below a minimum price, Tesco introduced trading stamps which were given to the customers which could be traded for cash or gifts. This was abolished in 1964 and then Tesco could offer competitive prices.…
16 pages (4016 words)