Marketing strategy is usually a written preparation or the corporate plan which helps for the development of the generated product in the market and it also deals with the issues such as distribution, promotion, marketing goals and also the identity of the product in the marketplace. Marketing strategy may also determine the option for allocating, positioning the market segment. The concept of marketing would be the main arrangement for any organization in order to achieve the high growth rate in this competitive humankind, in order to be one of the successful competitors in this present living kind the business organization must be aware of the marketing strategies programs. The marketing strategy can have the detailed view in this research thesis by taking the exemplar of the 'TESCO' which is the leading products trade group in the United Kingdom (Britain). Jack Cohen was the founder of the Tesco organization in the year 1919 in the east London, from the day stepped into the market Cohen earned the profit of about £4 at the beginning day of the organization , the name Tesco was appeared in the year 1924 when the Cohen had bought the tea shipment from Mr. T.E Stock well and with their initials their organization was named as 'TESCO', later in Burnt Oak of north London Cohen opened the flagship Tesco lay out , and later in 1932 Tesco has become a private limited company, this research on the Tesco which is an business organization helps to know the different marketing strategy which the company has adopted in its tenure.(Tim Clark,2008).
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Tesco is well known as the one of the retailer grocery organization in UK, Tesco understands the betterment for the customers and carry out their services genuinely, although Tesco possesses some of the principles and theory's which help the organization to run in better way than its competitors, the most of the common fundamental guiding principles which the Tesco posses to improve their business are customer satisfaction, easily accessible staff, cheaper in investment for Tesco. These are the keys for the success of any business organization to run successful, if any business unit fails to reach any one of the above mentioned principles there would be the chance in falling of the desired organization from the market. Business competition is infamous in this type of Tesco retail market but should able to continue the chain of value for their trusted customers in every sector including the recruitments as customers in the market are the real candidates, every individual who works in the organization should put their effort for the customer satisfaction so as to develop the organization. The other principle of the Tesco organization is easy staff accesses able; it does not mean easier staff rather it is termed as the staff with high skills and able to tackle the issues very efficiently in order to obtain simpler solutions when there listed the complex issues among the customers and the organization. The third principle of Tesco is implementing of the cheaper investment and to provide better service so that they would acquire the large amount of customers for the organization. ( Rosie Blau,2002)
This research thesis also helpful to determine the some of the basic frame works such as organizational development programs to carry out their services to the customer successfully. in general organization development programs is one of the processes to develop the internal capacity for the most effective height for the successful function of organization for the long time. the frame work of the organizational development programs acts as the one of the guiding program for all the members of its unit to tackle the hard work when they are allowed to put their effort for the achievement of the operation and also the development of the organization, the main aim of such types of programs are to work with the effective vision and for the performance of the organization. Here are the some of the basic frame works that are useful for the development of the organization are as follows,
Survival of organization
If an organization is successful in understanding the critical transitions and develops their basic systems then there would be the chance of survival for the period of time or else it would be collapsed.
Always on Time
Marked to Standard
If a marketing organization is capable of civilizing the quality of work with the help of any technical or human investments then they can acquire higher place in the market.
Availability of resources
In order to hold the grip over the market an organization should be capable of generating the resources for their work module.
An organization should posses the moral values towards the customer and should first practice internally rather going over the market.
All the unit members should work in the cooperative way for the development of the organization as development in staff and members in the board can improve the results of their program module, this would be possible when an organization is succeeded in making the effective and energetic staff for the achievement of the mission. The above mentioned framework would be the key for the success of the Tesco organization. (Ann philbin and Sandra mikush, 1999)
The research methodology on the organizational development also delivers some of the techniques and models which are used for the development of marketing plan. It was proved by many of the researchers that a written marketing plan would help an organization to avoid all the unnecessary expenditures if there is lack of perfect marketing plan then there would be dramatic repercussions in fall-off sales. So perfect marketing plan is useful and prevent from the falling of the communications activities a side even in the busy time. The marketing plan is need not to be lengthy and much complicated as it is the simple document in which you can have trust. The main techniques which are used for the development of the marketing plan are represented below,
Firstly one has to look towards the situation of the organization and its position in the market, intensity and all the other factors that may affect the marketing strategies, analysis of the situation is the one of the most research portion of the market. The main aspects that are should be taken in to the considerations are,
Challenges when the business is set up that lets the target to be out of market, at this time the client has to face the challenge and built the ability to attract the customers.
Your business should be the unique promotional strategy
Should able to analyze the business competition and the number of different things involved in the market places (George Rodriguez,2010)
This research thesis methodology over the organization of the Tesco explains the detailed summary about the different types of the marketing strategic options that the organization is adopting for it development, for any business organization to build their business they mainly follow the four market strategic options they are,
Selling of exist products to the existing customers
The main advantage of choosing this type of option by the organization is due to less risky option, in this the organization will be found of more customers for the existing products, it is easy when the customer has occupied a small portion in the market niche, in recent times most of the businesses are in scope of attracting this type of customers.
Selling of new products to the existing customers
In this type of organizational marketing option the risk is less when compared with the above option, the strategy is mostly interdependent on the customers this would be the some relief for the organizational efforts
Expansion of existing goods in new marketplace
This marketing option is useful for the understanding the demand for the existing products in which the risk is less when compared with the above options, but it is no big sight whether the organization decide to chose the best path as products, company image, sales processes and the promotional material are viewed, in order to expand the existing goods into the market place considerations such as real benefits, operational style, customer support and the best time to introduce the goods into the market are taken into the considerations
Developing latest products for the new market
This option is of more risky when compared with the above option of market strategy because implementing of new product into the new market may leads to the diversification move. It is one of the big task for the business to move into the latest markets in the best instance and it would be difficult to setup the sales channels, managing the customer expectations, generating demand and the existing competitors which is the difficult task that require the large resources, the below plotted graph states the risks that would be a raised in choosing the services or goods by the organizations,(Stuart Ailing,2010 )
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The Tesco has not individually build but it has developed its organizations with help of the stakeholders to, stakeholders are nothing but the certain group of people who are interested in doing business, different groups have their own interests in business, in this instance Tesco has many of the pursuing stake holders some of them are,
Generally customers act as the major stakeholder of the organization in general customer always ahead of goods which are of low costs and in search of variety of products to choose. Tesco is succeeded in providing the right genuine things to the customers and attract more customers towards the organization, Tesco likes to provide better business solutions for their customers as they are the main source of income, customers also apply pressure towards the organization, Tesco has the feedback regularly with their stores in order to meet the customer's request and stay in connected with them, the customers comments would have the great influence over the Tesco as they can suggest how to improve the business strategy , the comments like staff scarcity on floor would have the great impact on the business of the Tesco in the organization is failed to respond on the customers comments it may lose the share of the customers.
The employees are the persons working in the Tesco organization for whom the Tesco pay for their work towards the organization, the employees are also should posses the variety of skills on which their pay is decided, the employees works in different sections according to their skills eg checkouts, cleaner etc, if the Tesco found any employee who works hard for the development of the organization he would be eligible for the promotion criterion in the organization, as the employees is also the major stake holder of the company the organization should able to provide the good working conditions for them otherwise the employees would not have good service towards their job, employees have the biggest impact on organization Tesco as they play the key role to bring up the organization towards the huge profits.
This is the major aspect for the Tesco because they need funds for the expansion of the business, by expanding their business the organization is able to create more interests among the working partners in the Tesco, financiers are also act as the one of the major stakeholder for the company because they are the one source for Tesco if the business is not running well.
The another main stakeholder of the company is the suppliers as they supply goods to Tesco for selling in other instance the suppliers expect good income from the Tesco this is the main cause why they acts as the suppliers for the Tesco, indeed Tesco should give the good notice to the suppliers of their company that the order of supply should be finished in a mean time.(Lower Middle,2008)'
In order to gain commitment over the above mentioned strategies for employees the role of HR is crucial in implementing, the role in recognising of employees is the responsibility of the human resource department in implementing the company strategies, the success in the implementing strategies would have the long impact on the organization , human resource department is the only department which can access the activities on all the employees, the HR department of the Tesco should be aware of the problems that arise in the strategy implementation, thus this thesis also predict that the role of HR is also crucial in running the organization.(2008)
With the help of the above thesis methodology an individual can predict that the organization should posses some essential values and vision in order to make strong foundation in running the organization. The values of the organization is the central part the shape the vision and day to day actions of the organization, the mission with which the organization is working describes the role of play and the future functioning of the organizations, the mission of the organization should be realistic in determining the company, this research helps to observe that the vision, mission and the values are the touch stones in every decisions taken by the organization. These aspects are helpful for the organizational development the below plotted diagram helps to capture the interrelationships with the vision, mission, and values which are well known as the core aspects of the organization,
One of the most core competencies in the achievement of the vision, mission and the objectives of the organization is the Governance; the term governance is nothing but the decisions which are taken up by the organization under the effective critical issues. A strong governance body helps to organization in funding crises decision making, the organizations with the weak governing body are fail to remain active over the long run of the organization, the most effective governance in the organization build the trust among the members of the organization. The main aim of the governance should be the good decision making and policies that reflect the moral values of organization; the governance helps to sets the tone of the company and helps to understanding the company relationships between the members of the organization. The main functions of the governing body in any organization is to develop the skills in members and also for the leadership development.(Ann philbin, Sandra Mikush,1999)
In recent times the Tesco faces many changes in the business environment, the Tesco was greatly influenced by the many difficulties such as uncertainty in market, strategic decision making apart from the above mentioned difficulties the Tesco also involves in the analysis and identifying the economic, social ,political and technological aspects of the company and this process is well known as the PEST analysis, in recent time the Tesco is in the list of the organizations which are facing some changes in the market environment such as
In this type of issues the organization faces the risks such as,
Stability of government
Foreign trading regulation
Law of employment
This is section includes the aspects such as,
Cultural socio factors
In this sector of analysis the hurdles faced by the Tesco are,
Change in life style
Technological aspects includes the issues such as,
New technological aspects
Research spending by government
Rapid increase in technology transfer
Rates (Ahsan majeed,2005)
With the help of the discussions made in this research methodology it can be said that the Tesco was succeed in overcoming the above efforts caused due to the changes in the environment and run the organization successfully, it can predicted that the organization was acted more efficiently towards the environment change this would be the criteria for the Tesco to be in top position in the market, Tesco was very much successful in reaching the customers satisfaction and make genuine service to the customers, if the Tesco fails to react on this changes then there would be the chance of falling down of the organization as a result there occurred the huge loss to the organization. Although the organization Tesco is most efficient if posses some of the major business functional areas on which the operations in the company carried out, for the small scale organizations the functions or the key tasks must be done regularly like bringing stocks, payment of bills and responding to the customers queries these type of works can be carried out by the limited people in small scale industries but when large scale industries like has been taken into considerations there should be the who are well specialized in special tasks, in this type of large areas it is easier for identifying of employees as they work under different sectors and departments, and each of its department has its position in a particular areas. The different functional areas of the Tesco can be represented diagrammatically which is plotted below,
The main purpose of the functional areas is that to ensure in order to carry out the business activities efficiently, the main administration functions of the business organization are ,
This functioning area in an organization is required by all the businesses in the market, in small scale organizations this function is in one hand who can check and pay the invoices to keep up to date where as in larger administrations it is carried out by the respective departments, the main functioning of the administrative departments are,
Collecting the mails and dispatching them
Responding towards the queries
Making arrangements for travelling
Making arrangements for interviews and events
Another main aim of the organizational functions is the service to the customers, all the business units must look after the clients who have an concern regarding the products for this type of reasons a separate customer service department should be established for their needs, the functioning of the customer service functions are,
Responding to the customer query
Providing the info to the customers
Dealing with their complaints
And their feed back to improve service
Human resource function
The main resource of their of the HR function are the employees working in the organization, most of the organizations in the business marketing look after for a well trained staff for the activities of their business, The HR is one of the main function for recruiting the new employees in the organization so as to pick the best suited person for the organization up on all the organizational functions the HR function is the most important as it is the process of time consuming and expensive to, hiring the wrong candidate can cause instability for the firm. New employees are likely to attend the induction programs conducted by the company so as to build the employees regarding the company rule and regulation, the another main function of the HR unit is the to provide the appropriate training and assist the employees for their development, the always aims to guarantee that the business retains skilled staff, employees normally expect their employer to be treated and paid them fairly and also to have the sufficient working environment, the HR can help this procedure by monitoring the conditions of working and welfare policies of the staff, most of the organizations monitor their conditions of the staff by their staff associations which represents the union of workers senior HR communicate with these type of organizations and informs the changes to senior management, most the employees working in the organization have their legal responsibilities regarding the health and safety, the main functioning procedures of the Human Resource functions are,
Keep advertising about vacancies
Notifying promotion opportunities to the staff
Keeping safe all the job applications
Monitoring the conditions of the job
Keeping the records of accidents such as health and safety
Recording the absence of the employee
Maintaining records of the staff
Preparing company welfare policies
Hence with the help of above discussions made it can be said that the HR department is the crucial one in functioning of the organization. In order to carry out their operations efficiently
Tesco has to make some of the implementation plans for implementing their preferred goals and there exists a number of key factors for planning and implementation of the market strategy. Tesco should be aware and thorough with the implementation table concerning the following issues and should be viewed time to time frequently for proper implementation of organization strategies. These implementation include the following topics stated below,
This plan refers to the attentiveness over the resources that are accessible in the areas and collect them with the rewards.
This factor aims to attain the efforts and investments that organization expects.
This section of planning refers to the procedure of operating in the environment where there is heavy competition, if an organization fails to be aware of this fact then they would be surely fall back from their competitors
This action of plan is important for the organization in order to position the plan to all of its members, this strategy must also aware of the strengths and weakness of the company and meets the market needs, a successful frame work would helpful for the strength the organization with the market.
Sustainable competitive advantage
This strategy suggests the possible good ideas that works for the longer time period of the organization
Innovation and creativity
Creating and innovating new ideas and thoughts helps for the betterment of the organization and place the organization to the top when compared with the other organizations.
This is one of the plans for the implementation of the marketing strategies as the flexible is allowed for invention of the new products, this helps to work on the series of probabilities that are vulnerable to reality, some time the business decisions are difficult due to which there is the chance of failing of plan.
Basic conceptual simplicity
This plan of strategy includes some of the long and complicated plans that require the constant adaptation and change to another long plan, the organisation must be aware of the information that most the strategic plans are based on historic information and on the future prediction.
The ability in implication
This is the final key for implementing the any marketing plan, an awesome strategy is meaningless unless it is kept in to implementation so as to achieve their mission, vision and goals of the desired organisation.(Brain Monger,2006).
This research thesis methodology helps to determine the different aspects, methods and implementation of the theory which the marketing organisations are adopting for the rise of their business activity in the market. For successful implementation of activities in marketing strategies a master schedule must be developed against each challenging task as wide variety of implementations are required for execution of plan. The various platforms and steps involved in scheduling and tabling the implementation of marketing strategy are listed below,
Actions to be performed
This sector of listings include all the activities regarding products, pricing , and promotion activities and also include some of the specific implementation segments like structural changes, training a employee.
Time source of activity
This segment determines plan and timing required by activities before they are about to fruition.
Determining activities preceding by others
Most of the marketing strategies must be performed in sequence such as copywriting, production, and delivery. These types of activities must be isolated from other activities and performance.
Arranging proper sequence
This portion guides manager about the master scheduling of all the activities and how to determine the each activity.
This hints manager to assign numerous employees, teams and departments for determination of each activity.
An effective of creating an implementation plan is to begin activities in a spreadsheet. This gives details about the each activity in the master plan. Below plotted diagram represent an implementation plan of activities of marketing,G:\MYWORK\Desktop\sed.jpg
figure source: Marketing Strategy
Marketing structure include various types of elements in the implementation of plans. These plans are termed as,
This element of implementation includes firm's product, distribution, pricing, and product promotion activities.
Mutual values and goals
This implementation hints the firm is a solitary of holding the entire functioning unit.
This segment include the organised activities of firm marketing structure
System and process
this type of implementation includes the activities of work which absorbs various activities of inputs which helps for generation of activities information and their output to ensure functioning of firm.
This sector of implementation hints firm for hiring skilled labour and provide them with perfect training, motivation, commitment and satisfaction.
Resources include a variety of assets that are bought together during implementation of marketing strategies.
This implementation segment guides manager how to communication with all the members of unit and implementation of programs such as motivation for employees.(O.C Ferrell, Micheal D. Hartline, 2008)
Task 5 (c)
This research on market strategy provides information about different risk coping strategies under various circumstances. Most of the researchers focus over issues such as ex-ante and ex-post strategies in market structure. Ex-ante is termed as the steps that are taken before the loss is occurred and ex-post is the steps that are taken after the loss is occurred. For example rushing of firemen after the fire is exhausted is ex-post strategy since the event of rushing fire takes place after fire has started. In other words this strategy can be termed as risk coping and risk reduction techniques which would act as synonyms for ex post and ex ante market strategies. Morduch(1995) termed these both strategies as smoothing measures of income and consumption. Ex- ante strategies mostly do not focus on issues such as risk of health and income as prices are uncertain in market. Consumption smoothing never achieve perfect range of ex-post strategy activity. There also arise many of the preventive variations in expenditures on homecare, health and food preparation after the loss has occurred, these discussions helps to evaluate the different strategy's under ex-ante and ex-post basis and provide the solutions regarding this type of issues by this thesis.(Marcel Fafchamps,2003).
This research also act as a guide to managers to understand the various steps and measures to be taken before implementation of new strategies because selection of unknown and undesired strategy would create a great effective loss to the organisation so as a preventive of loss the manager should able to understand every implementation plan of the organisation.