Marketing Reformation, Retention, and Development of Competitive Advantage - Essay Example

"Collaborating with value chain stakeholders, such as suppliers and distributors, to form a network, should allow a company to gain and sustain a competitive advantage vis-a-via its competitors outside of the network." Due to technological development, increase of competition and globalising business operations it now becomes extremely difficult to sustain competitive position on the market. Gaining competitive advantage in modern business world is an important factor of gaining financial results of operations anticipated which is a difficult task as there emerges more and more participants in the industry. Companies thus undermine new approaches to keep sustainable position or getting competitive advantage on the market and do it in different ways. The most important way to success in any industry has been always considered orientation on the customer needs and its satisfaction. Working in that direction provides guarantee to selling final products and in gradual increase of outputs. It is equally important to build networks with other stakeholders such as suppliers, distributors or intermediaries. Professional approach to dealing with all the stakeholders is crucial in sustaining competitive advantage vis-a-via the competitors outside the network. Using example of Tesco chain of groceries I will further discuss the ways in which the company sustains its leading position on the market and define current strategies as well as opportunities and threats that the company faces in today's competitive world. Many retail shopping centers have tried and failed to perform excellently outside their home markets. Likewise, some retailers have led astray trying to develop Internet shopping. As a result, TESCO, the United Kingdom's biggest grocer, has drawn significiant attention because of its ambitious overseas strategy and its successful on-line home delivery service. Another successful key factor that inputs to TESCO sustainable development and growth is the marketing communication plan that provides the detailed overview of the Company's fiscal policies as for meeting the clients' needs and providing competitive prices within wisely located grocers all over the world. TESCO understands that successful marketing strategy should be based on customers' need, that is why the Mission Statement declared for the Company sounds as it follows: "One of our values is to understand customers better than anyone. We go to great lengths to ask customers what they think, listen to their views, and then act on them. We look both at what customers say and what they do. This feedback guides the decisions we tale" (www.TESCO.com) Executive Summary TESCO s proved to be a ledng grocery chn n the Unted Kngdom nd lso the bggest grocery of the world. There re bout 2290 stores wth more then 296000 people employed ll over the world nd t hs ttrcted consderble ttenton becuse of ts mbtous overses strtegy nd ts successful on-lne home delvery servce. Relyng on sles of non-food tems nd on nterntonl sles--prtculrly n emergng mrkets--for n mportnt prt of the compny's future expnson, TESCO hs delvered one of the fstest orgnc growth rtes of ny mjor retler n the world. ts nonfood busness rose by 18 percent n 2000-01, nd ts nterntonl busness, whch begn wth lunch n Hungry n 1994, now ccounts for more thn 40 percent of the group's floor spce. TESCO lso hppens to be the undsputed world leder n nternet grocery sles (www.TESCO.com). ts on-lne home delvery servce s now proftble, TESCO sys, nd t hs struck del n the Unted Sttes wth Sfewy, whch wll use TESCO's system for home-shoppng servce. Underpnnng TESCO's success s excellent mngement nd n obsesson wth opertonl effcency nd productvty gns, whch the compny uses to keep prces low or to mprove servce rther thn to ncrese ts opertng mrgns. Despte ths mpressve record, TESCO s stll reltvely smll compred wth the lkes of Crrefour nd Wl-Mrt, but t s growng fster. Despte ths mpressve record TESCO stll fces number of chllenges during the fiscal year. The UK retler is smll n comprson wth the lke s Crrefour nd Wl-Mrt so it in order to rech hgher records it hd to substntlly nvest n hrdwre nd softwre of both compnes so tht the sustnble compettve dvntge n ts onlne retlng busness hs been reched. Market Situation Analysis The target audience of TESCO is people of all ages who make regular visits to grocery shops. The occupation of people is of vast variety and of different income range. Prices in TESCO are formatted in the way that people with various money comings could afford the products of certain group. The prices for products differentiate in order to satisfy the needs of all groups of people. Consumption of TESCO products is of high rate as long as the brand is very famous among the people of different age and occupation. When choosing grocery people would rather prefer the one that is of cool brand, than a shop "by the corner of a house" that does is bad-known in public and does not provide wide majority of discount system or other specific peculiarities that groceries of such a wide scale as TESCO usually have. "The concept of being distinguished" is part of TESCO's culture. It is a common people's psychology to buy the things with famous brands. In such a way they tend to prove that they are different with others, the reason why you can find many imitations in the night market. TESCO might focus on the branding image and price strategy; it might attract more customers to purchase the products. Organizational structure of TESCO is quite complicated as the objectives and strategies for the big company should be shaped by principle "from bottom to the top", meaning that all personnel should be engaged in the performance of organizational mission. There are many agents under the headquarters of TESCO, and the agents are above the Shop Owner. When creating a new product TESCO send the sample to the agents in each area first, then the agents report the order list to the headquarters after the Shop Owners order product from them. The Shop Owner pays directly to the headquarters. Usually there are more than one Shop Owner of TESCO grocery, the headquarters did not sign contract with any Shop Owner. The headquarters produce the product, the Shop Owner sell the products. However the agents will demonstrate to the Shop Owners. Overview of TESCO's International Communication Strategy International communication strategy is an important tool in conducting communication strategy for the company of any type. TESCO's communication strategies always bring some controversial issues, and it always want to choose some subjects to attract the customer's focus, especially some subjects that people really do not want to discuss or face. Those communication strategies only attract people's attentions and build up their brand, but it does not push the customer to purchase their products. n effort tht TESCO mde in order to pursue its international communication strategy was to proceed n ts grocery ctvty while opening relnd's frst petrol fllng stton whch offered cheper fuel prces nd lso proposed ddtonl servces to customers such s cr-wsh, jet wsh nd mn convenence store. Workng hours n ths fuel stton were from 7.m. to 10p.m., seven dys week wth extended hours durng the summer months. fter ll these chllenges mde by TESCO over the perod of ts ctvty the totl revenues nd profts hve sgnfcntly grown up from 17, 4 mllons n 1998 to 25, 7 mllons n 2002 nd keep growng n tody's nnul reports. One of the foremost resource nd prvlege of TESCO Compny s ts blty to keep nterntonl growth by mens of overse success mong retler nd supplers. Ths s reched by strong core busness ssues whch s csh nd shreholders' confdence. s long s TESCO s serous nterntonl plyer t s supposed to be one of the top two compnes n number of countres, whch hs szble csh mplctons. t dds up to huge csh nvestment, prtculrly f the strtegy of growth s proposed to implement within the frames of this marketing communication plan. nterntonl expnson s key prt of Compny's growth strtegy, nd t ws mportnt for shreholders to understnd tht t would tke tme to show returns. ndeed, such strtegy nevtbly dlutes returns for whle. But t s lso n ttrctve strtegy gven the growth rtes n mny overses mrkets nd the fct tht t's dffcult to grow n mny Western mrkets becuse you cn't open stores, or there re unon ssues, or there re no stes vlble.. Besdes good csh nd shreholder's confdence good reserch n terms of whch countres hve to be chosen s requred. n dong so TESCO understnds the locl mrket nd serch the key to ts potentl cpbltes of wht the compny lredy reched nd wht wll dd vlue brod. f t's n cquston then wht re you gong to dd tht's gong to repy the shreholders nd f you're expndng on n orgnc bss, wht hve you got tht wll gve you ledng edge over the current ncumbents or wll sustn you through the nevtble future competton n nswerng these questons the compny reles on ts opertonl sklls nd opertonl effcency. Tht ncludes the trdtonl retlng cpbltes--replenshment, own lbel, nnovton. But retlng s frly see-through busness s people cn esly copy wht s done, whch mens t's lso frly homogeneous ndustry. TESCO competence n dong grocery busness nd prtculrly n rechng for hgher revenues mong other successful compnes of ts feld stnds on lrge extent on how to del wth customers, whch n turn depends on how to del wth personnel. The compny polcy towrds employees s very correct nd fr nd t s supposed to be dstnctve nd strong key of TESCO grocery. t s commtted to provde the employees wth stble work envronment nd equl opportunty for lernng nd personl growth. Cretvty nd nnovton s lwys welcomed mong employees s t s wy to ncrese the effectveness nd vlue of TESCO. Employees do ther best to contrbute to the success of the compny s they re provded wth the sme pprehenson, respect, nd concerned tttude from the sde of n orgnzton. ntegrton nd honesty of the personnel mke TESCO s one tem, fmly whch s redy to gve cre to everyone who wnts to be the prt of t s well s to those who wnts to become clent. mportntly s tht n ts ctvty TESCO reles on reltvely few exptrte employees. The corporton culture stnds for cretng n opertng pltform tht provdes the systems nd key processes to run the busness. The best locl mngers re chosen n order to work oversees nd execute the customer sde of wnnng busness pproch. Hvng chosen the best locl personnel for workng oversees the compny leves no free vcnces for locl workers of one or nother country. Ths mesures my seem knd of strct but through hrng the employees the compny hve checked for relblty nd "knowng the mtter" the compny mntns ts constnt growth nd keeps hgh opertonl records. TESCO believes that in order to be a serious international player, it had to be one of the two companies in each of several countries and accepted capabilities as more important then scale. TESCO believed that its operational skills and operational efficiency were its core competencies. But TESCO also realized that copetitors could easily cope it, in a fairly homogeneous industry. For superior execution, attarcting good people and retaining them, was a key success fuctor. Indeed, one of the main challenges for TESCO in managing rapid international expansion was management of human resources. TESCO needed good people both in the subsidiaries and the headquaters. The data in this graph are taken from TESCO annual report and testify that the company successfully follows the growth strategy and successively reaches high records in international hyper market. nother key of TESCO compettve poston n grocery mrket s pyng ttenton to correct nd effectve locton of stores, choosng the rght formt of store n correspondence to locl needs, offerng the vrety of goods tht locl people wnt. lso mngers supervse gretly how stff reltes to the customers n the stores s ths determnes success wth customers nd strctly refers to compny's goodwll nd revenues. f spekng of the scle tht the store hs over the Unted Kngdom nd mny other countres t cn be sd tht t s the next compettve dvntge of TESCO. Clerly scle provdes more ttrcton nd trust from consumers' nd supplers who smply tke more notce of compny f t hs 20 stores rther thn 2. However to retlers the scle of the shop hs not bg dfference s most of ther foodstuffs (85 or 90 percent) they buy loclly whle pyng ttenton to locl scle rther thn to globl scle. Bck n 1999, n nlyst sked the CEO of our South Koren operton, "How cn you possbly compete n nonfood wth retler tht hs the globl scle of Wl-Mrt" Our CEO ddn't understnd the queston. "Wht re you tlkng bout" he repled. "We sell fr more nonfood thn Wl-Mrt per store." So you see, globl power sn't everythng. Theoretical framework for shaping TESCO marketing communication strategy wll further dscuss concrete steps of mplementng the strtegy whch beleve wll mke TESCO grocery even more compettve Compny. Lewn chnge mngement theory sttes tht ll forms of lernng nd chnge strt wth some form of dsstsfcton or frustrton generted by dt tht dsconfrm our expecttons or hopes. So the frst step n propotng te strtegy s dsconfrmng the current stuton n the Compny to the beneft of settng the hgher gols n the future. n order to become motvted to chnge, the compny must ccept the nformton nd connect t to somethng t cres bout. The dsconfrmton must rouse wht TESCO cn cll "survvl nxety" or the feelng tht f nythng wll be chnged the compny wll fl to meet the needs or fl to cheve some gols or dels tht hs been set for themselves ("survvl gult"). n order to feel survvl nxety or gult, the compny must ccept the dsconfrmng dt s vld nd relevnt. Lernng nxety s the fundmentl restrnng force whch cn go up n drect proporton to the mount of dsconfrmton, ledng to the mntennce of the equlbrum by defensve vodnce of the dsconfrmng nformton. t s the delng wth lernng nxety, then, tht s the key to producng chnge. The thrd step n the chosen theory fter creton of suffcent psychologcl sfety nd denyng dsconfrmng nformton, fter no survvl nxety s felt, nd no chnge tkes plce t s needed to blnce the mount of thret produced by dsconfrmng dt wth enough psychologcl sfety to llow the chnge trget to ccept the nformton, feel the survvl nxety, nd become motvted to chnge. Ths prt of the strtegy n ccordnce to Lewn's strtegy refers to creton of psychologcl sfety or overcomng of lernng nxety. The true rtstry of chnge mngement les n the vrous knds of tctcs tht chnge gents employ to crete psychologcl sfety. For exmple, workng n groups, cretng prllel systems tht llow some relef from dy to dy work pressures, provdng prctce felds n whch errors re embrced rther thn fered, provdng postve vsons to encourge the lerner, brekng the lernng process nto mngeble steps, provdng on-lne cochng nd help ll serve the functon of reducng lernng nxety nd thus cretng genune motvton to lern nd chnge. The next nd the lst step of the strtegy refer to cogntve redefnton. Frst, t s needed to re-defne temwork s the coordnton of ndvdul ctvtes for prgmtc ends, not the subordnton of the ndvdul to the group. f temwork s ndvdul subordnton s redefned, s tretng the group to be more mportnt thn the ndvdul, ll the defenses tht led to qups lke cmels beng horses constructed by commttee, negtve mges of "group thnk," lynch mobs, etc rouse. Second, the redefnton of temwork lso wll llow TESCO to redefne ndvdulsm n wy tht preserves ts prmcy, not to "substtute" groupsm for ndvdulsm. Ths process of redefnton n effect enlrges the concept of ndvdulsm to nclude the blty nd oblgton to work wth others when the tsk demnds t. n other words, helpng tem to wn s not nconsstent wth ndvdulsm. nd, thrd, TESCO cn chnge the stndrds by whch ndvdul performnce s rewrded. nsted of rewrdng "rugged ndvdulsm" or the compettve wnnng out over others (whch mkes collbortve behvor look "wek"), ndvduls cn be ncresngly rewrded for ther blty to crete, led, nd prtcpte n tems (whch mkes collbortve behvor look "strong"). The best ndvdul, then, s the one who cn be n effectve tem plyer. Marketing communication plan for TESCO Marketing communication strategy for TESCO imply filling the options of following marketers: Selling, Advertising, Sales promotion, Direct marketing, Publicity (and public relations), Sponsorship, Packaging, Point-of-sale and merchandising, Word of mouth, E-marketing, Corporate identity. There are many competitors in the market for TESCO. In order to stand the rivalry it is needed to rebuild the brand image and re-position the brand through the communication tools; it may use the sales promotion, advertising, packaging and sponsorship to achieve the objectives. In more details the marketing plan is described in below: Advertising Advertising will be the main means to communicate with the people. Several appropriate media can be use to achieve the objectives, such as newspaper, magazines, journals, directories, radio, television, cinema and outdoor billboard. This report will use several media for example the newspaper, magazine and outdoor billboard. Sales Promotion Sales promotion has a high ability to target particular audiences and high management's ability to adjust the deployment of the tool as circumstances change, so it will be a part of the marketing communication strategy for the plan. Public Relations Public relations (PR) is the development and maintenance of good relationships with different publics. There are a range of the publics, such as employers, customers, distributors, suppliers, press group, investors and media even the competition. It is consider with many more publics, they have to increase media interest in business, new investor criteria and more effective pressure groups; it is becoming more and more important for the business. Packaging Packaging shows everything. Product design should match the customer preferences in terms of style, such as packaging, colour and size. According to the authors such as Kotler (1991), the packaging can play a major role, many marketers called packaging a fifth P, along with price, place, promotion and product. There are 6 elements of the packaging, such as size, shape, materials, colour, text and brand mark. It also can improve the brand image for TESCO. When customers purchase some items of the TESCO producst, they use different paper to package the items, or different carrier bag, when the customers open the bag from the carrier bag that gives the customer different felling. Benetton may consider advertising their product by giving free gifts to their customers, such as bonus CD or the poster, when they purchase TESCO's products. Those gifts consist of the information about TESCO on and special advertisement. Sponsorship Sponsorship is offer more money than patronage, altruism and benefaction. According to the authors such as Smith and Taylor, it supports the activity with the cash and consideration in return for satisfying specific marketing or corporate objectives. It can be sponsors for the modern art exhibition to rebuild the brand image and re-position from leisure image to quality taste, or sponsor for the international golf event. First, it can transmit different image to customer's mind. In this case, Benetton can connect with some music concerts or out door activities to rebuild their brand image. Improving the customer service It is more important to look at the customer service in every industry, it can be seen as a part of the brand image. For example if customer purchases a product with blemish on it from TESCO, the customer service should replace the product for the customer as soon as possible and with a polite attitude. It is not only solving the problem, but also improves the brand image at the same time, so Benetton should retrain their sales people. Television advertisement of TESCO products According to recent financial planning of TESCO, the Company is motivated to spend 8 millions pounds on TV advertisement for the coming fiscal year. That is quite a lot and if disposed correctly, such funds may greatly promote the company's products and increase sales for the next period. TV advertisement for TESCO products should be planned by each separate local department of Marketing of numerous worldwide TESCO divisions according to peculiarities of the country and Television programming. Within the boarders of London I suggest it will be the most efficient to place an advertisement on the mostly visited TV channels such as BBC1, BBC2, ITV1 London, Channel 4 and Five. Out of these channels the most funds should be distributed for ITV1 London channel as it is a central and best known channel of the city. The amount of 4 million pounds of the whole provided 8 millions pounds should be equally displaced for television advertisement on ITV1 London channel; the rest of 4 millions pounds subsequently goes to other four channels. The reason of such uneven distribution of money on TV advertisement throughout the channels is a strong emphasis one channel, which implies singling out target audience of the biggest scales being involved into regular watching of this particular channel. The best time to advertise on this channel is a morning (about 7.30 a.m.) and evening (about 6 p.m.), when there are everyday London regional news and recent updates for the capital. It is not only importantly but necessarily to preview that advertisements to be at the same time on the channels with possible "additions" during the day so that the constant audience got used to the products being advertised and unconsciously bought them in their local TESCO shops. For this reason, it is needed to buy the TV time for the whole year, that will provide not only reduction in price for the advertisement but also certainty in product promotion all through the year on the best advertisement source - Television. Selecting an appropriate media can minimum the cost but maximum the effect, it is popular to advertising on the movable billboard in every bus stop. The cheapest advertising might be the advertising balloon or giving tissues with the advertisement on the packaging. However, it is not suitable for TESCO's brand images. TESCO should use some particular magazines to reach the target consumers. The magazines might narrow the readership, so reach the target consumer easily. The Measures of Success for the Implementation of the Plan After the appropriate media has been selected, it should set up some milestones to measure of success for the implementation. Does it make a different after doing the advertisement Does it rebuild the image for TESCO Does it reposition the product for TESCO Which advertisement is the most impress to the customer Which customer is the first time purchase the product from TESCO The answer can be found from the market research and through the questionnaire. It shows the change of the brand image in consumer's mind after the advertising and sales promotion. Through the sales volume and market research can provide brief information. Conclusion Through the report, I have identified TESCO's current position on a grocery market as well as its marketing communication strategies. The research has shown that TESCO tried to rebuild their brand images and sustain their leading position on the market. Basic accent has been made on promotion the company's products on the local and foreign markets by increasing funds on advertisement around the world. When following the strategy it is importantly to hear up the reccomandations to implementing integrated marketing communications in the Company which is the effective process of continually realigning managers' priorities and resources with organizational goals; a science of "playing game" on the market under the conditions of high rivalry and competing prices. Finally the growth strategy, that is also included in the Mreting Communication plan is a viatl part of every prospering company which undoubtedly is TESCO. When suggesting the growth strategy I used Lewn's bsc model of chnge that leds to whole rnge of nsghts nd new concepts in order to enrch chnge theory nd mke chnge dynmcs more understndble nd mngeble. suppose ths model provdes n optml marketing strtegy for TESCO Compny nd wth the help of ths strtegy t wll be possble to buld further becuse ts fundmentl concepts were nchored n emprcl relty. Lewn's concept of cton reserch s bsolutely fundmentl to ny model of workng wth humn systems, nd such cton reserch must be vewed from clncl perspectve s set of nterventons tht must be guded prmrly by ther presumed mpct on the clent system. The mmedte mplcton of ths s tht n trnng consultnts nd chnge gents one should put much more emphss on the clncl crter of how dfferent nterventons wll ffect clent systems thn on the cnons of how to gther scentfclly vld nformton. Successful marketing communication strategy for TESCO has been identifies the one that include Sales Promotion, Public Relations, Packaging Sponsorship, Improving the customer service and paying attention to Television advertisement of TESCO products. Corporton culture of TESCO Compny wll sy tht ths grocery chn uses specfc methods of bsorbng the mrket of ts feld. The competence, ccumulted resources nd huge experence of functonng under condtons of gret competton helps the Compny's best mngers to seek for ddtonl unque opportuntes nd chnces whch would provde the domnnce nd monopoly of TESCO on the grocery mrket. Bibliography: 1. Angle, H. L., Manz, C. C., and Van de Ven, A. H. 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