StudentShare solutions
Triangle menu

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

Not dowloaded yet

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, ...
elopment 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).
Total Integration
Major changes in the marketplace, media and communications, and in consumers were the key drivers in the development of integrated marketing communications or IMC as a new paradigm for marketing professionals for the 21st century (Schultz and Schultz, 1998). Schultz and Kitchen (2000, p.3) identified four elements that pushed these changes in the practice of marketing: digitalisation, information technology, intellectual property, and communication systems, with the result that consumers have become more fragmented and converged into smaller, more targeted and specialised groups.
Levitt (1975, p.10) was amongst the first to note the need for changes in the traditional methods, practices, and ways of thinking prevalent in the era of mass marketing and communications in the 1960s and 1970s, arguing that "management should not see itself as merely producing products but as providing customer-creating value satisfaction and pushing this idea to every nook and cranny of the organisationcontinuously, and with enough flair to excite employees". He warned that if this is not done, the company would have no consolidating sense of purpose or direction.
The earliest formal definition of integrated marketing was formulated in 1989 by the American ...Show more

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.
Author : abbottjuvenal
Market-Led Strategic Change at Tesco plc essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the research paper on your topic
"Market-Led Strategic Change at Tesco plc"
with a personal 20% discount.
Grab the best paper

Related Essays

The factors that led to change in Apple Inc
A brand of innovations, “Apple”, was established in the year 1976 on April Fools’ Day (1st April), though it was incorporated only on January 3rd, 1977 with a brand name of Apple Computer. After 30 years, the word “Computer” was removed from its branding as it shifted its traditional focus from computers to consumer electronics.
11 pages (2750 words) Research Paper
LED lighting fixtures market of US
To take the benefits of this globalized world, ABC Company has planned to enter the LED lighting fixtures market of US. Business plans to meet the growing LED lighting fixtures demand with low cost option. To achieve this low cost, LED light fixtures will be imported from China.
5 pages (1250 words) Research Paper
Retailing Management - Target
Through the years, Tesco has expanded its operations beyond the United Kingdom and has been successful internationally. It has approximately 2000 stores operating in 13 countries across Europe and Asia. The main focus areas for Tesco are its policies and processes, which are designed and implemented after a lot of thought and research.
20 pages (5000 words) Research Paper
Strategic Management: Tesco Stores
However, the corporation has achieved a sizeable growth over the time. Currently, the Company owns numerous stores in and out of the UK with a recent venture into the international market. Appropriate application of strategic organization presents the foundation for the success of the company.
6 pages (1500 words) Research Paper
STEEPLE Analysis
Introduction The last two decades has witnessed the dominance of supermarkets in the retail sector of the United Kingdom. The key essence or reason for this dominance of the supermarkets is that they have been able to provide an assortment of products as well as services at an affordable price and invariably from a single retail store destination.
10 pages (2500 words) Research Paper
William Morrison Supermarket Plc market research
Morrison offers discerning consumers the best quality of food merchandise.Morrison's fresh food counters give customers a premium range of fish and meats, a great selection of pizzas, various pies, a variety of salad and several types of cakes. It also offers British and continental foods and light snacks.
22 pages (5500 words) Research Paper
Tesco
In 2006 the company acquired Makro business in Malaysia. (Tesco web site) The liquidity of a company is the ability to meet its loan obligations as it relates to its current assets and its current liabilities. We have analyzed two important liquidity ratios: Current Ration, and Working Capital.
8 pages (2000 words) Research Paper
Strategic change management
Strategic management is a proven and effective method employed by organizations to achieve their long-term goals as it helps in identifying appropriate interventions which can be integrated with organizational systems; these interventions can be used to create short-term objectives aligned to long-term goals, which can drive organizational change and accomplish organizational goals.
6 pages (1500 words) Research Paper
Tesco
Tesco does not create new strategies every year instead, it has a series of common strategy that it adds yearly. However, Tesco’s performance in its markets today is not as per the set standards. This paper will address Tesco’s adversities in both the UK and the US
2 pages (500 words) Research Paper
Comparative analysis of food retailers growth strategies in the UK
Some of the large firms like Tesco and Wal-Mart have command market share, and influence over the prices of the products and consider the rival reactions while setting up the food prices (Burt & Leigh, 2003, p 25). The small supermarkets have merged in order to
10 pages (2500 words) Research Paper
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation