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Tesco's Recommendations - Essay Example

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What began by selling the single product of Tesco Tea has now expanded into a chain of over two thousand four hundred stores around the world with…
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Tescos Recommendations
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Download file to see previous pages However, it was with the oncoming of the 1990s that Tesco began its international expansion and began to channel extensive resources towards innovation in its marketing strategy to reach consumers (Clark, 2008). This paper shall attempt to shed light on Tescos current standing in the consumer market and the effectiveness of its current marketing strategies in order to develop a set of recommendations for Tesco to sustain and improve its market share and profitability.
It is also imperative to realize that Tesco has chosen to exercise extensive product development and market development by adding products and services that are non-food but provide consumers with high levels of utility. This strategy is one that has proven to be extremely beneficial for Tesco over time (Chaffey, 2008). While this innovation on the part of Tesco may make it difficult to soundly place Tesco as a grocery retailer, the fact remains that Tescos fundamental sales items remain those that pertain to groceries.
The approach is one that is found by Tesco in the concept of the investment in growth. Growth, according to Tescos strategy, is the development of availability and accessibility for consumers to Tesco (Corporate Watch UK, 2004). An example can be found in the fact that Tesco more than often chooses to make use of an opportunity to open an Express Store rather than letting it go by.
With regard to the effectiveness of the current marketing and strategic outlook of Tesco, it can be observed that Tesco is currently recognized as a reliable and acknowledged brand amongst European consumers and is in a condition that can be considered stable enough to bring forth an expansion plan into the market (Corporate Watch UK, 2004). It would be appropriate for Tesco to move forth from market penetration approaches to product development strategies (Marivic Butod, 2009). Needless to say, the question of the ...Download file to see next pagesRead More
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