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Problems Faced by Tesco - Assignment Example

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According to the report, the name Tesco came into sight above in Edgware in 1929 and since then the company has grown, reacting to new opportunities and revolutionizing numerous innovations. Tesco PLC operates in the field of grocery, food products, financial services, and telecommunication…
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Problems Faced by Tesco
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Download file to see previous pages Even though it was good at buying and selling goods but they had begun to forget their customers. Once they started focusing on the needs and wants of their customer, the company placed itself at a position that no one has been able to take it away as yet (Tesco 2008).
According to the employees at Tesco, working extra hard for customers has been the key to their growth. They want to make customers lives easier and better in any way they can. Furthermore, they want to appeal to every customer and give them a reason to come back to Tesco. For this purpose, Tesco has invested in the things that are important to the customers. For example, they started the loyalty scheme Clubcard and, internet home shopping service, etc (Tesco 2008).
Tesco PLC operates in the field of grocery, food products, financial services and telecommunication (Tesco 2008). Its overall sales were 59.4 billion in 2009 and over 472, 000 people are employed across 14 countries (Stocks 2010). In UK Tesco sales have been on the rise every year, for 2009 sales were 41.5 billion relatively compared with the previous year (37.9bn); sales have increased by 9.5% (Tesco plc 2010). Tesco is spread all over the UK and is able to fulfill the needs and wants of its customers because it has established a variety of concepts of stores (Tesco 2008). Due to such diverse store formats strategy, Tesco has been able to acquire some of the best retail rankings (Tesco plc 2010).
According to market analysts, Tesco controls more than 36% of the overall UK grocery market share; it was 30.5% in 2009. Other supermarket grocery chains’ control is comparatively not significant, that is Asda only controls 16.9% which is a subsidiary of the worlds biggest retailer Wal-Mart Store Inc. (WMT) of the U.S., Sainsbury’s only 16.1% and Morrison’s only 12.3% (Baba 2009). ...Download file to see next pagesRead More
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