Mission of the Company
To build value added products for the consumers that will help the organization to earn more keeping the factor of faithfulness for a long run.
Situation Analysis
As in situation Analysis different prospective of the organization are discussed like SWOT, strategies and customer etc. therefore it plays very important role in Marketing Plan. For this purpose FEPSOS is applied and thus system, organization, function, environment and productivity will be discussed as follow. In order to achieve more profit the company provides different services and products in different environment, along with this it also provide different stuff like DVD on rent basis which increase the profit. Beside these it also work on mobiles, phone and banking sector.
Environment
The company is in competitive environment and both either micro or macro are suitable for it.
Micro Environment
It consists of factors which can affect the organization either directly or indirectly and on the bases of these operations it decides its feasibility in the future.
Customers: The Company provides different services and product to the people of U.K as well as to the people of different countries like USA, China, France, Hungary and Japan etc.
Suppliers: Around the world the company have different supplier.
Employees: Company has 444,000 employees in its different branches.
Competitors: Different companies like Carrefour, Wal-Mart and ASDA are its competitors.
Media: For marketing their product and services the company uses different online channels.
Macro Environment
It also consists of factors which can directly or indirectly affect the organization which are as follow.
Political and legal factors: As UK Government is ruled by is liberal Democratic Party and there are two other parties which are also in power i.e. Conservative and Unionist Party thus the structure define the development of the country which represent the strength of UK.
Social and Cultural Factors
As in UK the whole country follow a single culture, all of the resident take interested in literature and speak English only and all these make good environment for the company.
Economical Factors
Although UK is economically stable still the company may take care of different risks which are business growth and the cost of foreign exchange. As UK is known for it’s formalize foreign exchange, on the other hand the currency of UK pounds has one of the highest value in the world market all of these condition are very good for the company growth.
Technological Factors
UK is known for its well develop IT technologies which bring certain advancement there for the it is updated all the time according to the world trends this also produce good environment for the company business (Hall, 2008).
SWOT Analysis
SWOT analysis is a vital part of a marketing plan, as it determines the company’s strength, Prospect, weakness and Pressure that are important for its future. Following are the:
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Strength
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Weakness
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Opportunities
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Threats
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With this SWOT analysis report some portions have come out, that will for sure help and increase the plans for the upcoming 12 months for the organization.
Marketing Strategy and elated factors
The third position in the revenues and second position in profit clearly shows the productivity of the company and that its marketing strategies are going successful. Productivity of the firm can be observed through its market position that is third in terms of revenues and second in term of profitability in the retail industry (Drucker, 2008).
System: The company face several challenges which can be clearly observed from its marketing position and its stand in the world, the company own site is one of the top organization which provide s internet service and product delivery in UK.
Strategy: The Company approves such marketing strategies which help to achieve its goal in long term business.
Organization: The feasibility of the company, make it one of top sells company. For this purposes Mckinsey’s 7Ss is applied which are strategy, system, skills, staff, structure, shared values, and style.
Staff: Well-skilled staff will be hired, who have diverse knowledge of marketing concepts for the marketing plan.
Shared values: People who have integrity, honesty and fair attitude will be hired for the marketing plan.
Objectives
To achieve a substantial share in the market, it is indispensable for Tesco plc to have some effectual objectives that are focused mainly on SMART pattern (specific, measurable, attainable, reliable target). Corporate and marketing objectives for the firm should be both customer and business oriented that is promising from the business point of view. These are as follow:
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Corporate Objectives |
Marketing Objectives |
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Marketing Strategies
This is to review the aggressive advantages of the market and to attract the market as well. Tesco Plc is dealing in wholesale industry which is dissimilar market. Industry competitiveness for Tesco plc is as follow:
1.Threats of new competitors in the wholesale market are very low because of the high level of hurdles. The major Reason is that the new competitors mostly keep low rates which become the sometime a huge challenge. Competition between the existing competitors: Competitions between those competitors who are already apart f the wholesale market are mostly very strong because of the prices ups and downs. Wal-Mart, Carrefour, J Sainsbury, ASDA, and K-Mart are also affected by these kinds of market strategies (Brewster & Harris, 2004).
2. Almost always there are alternatives available of the current products, so the ratio of the products to be alternate is so less.
3. There are so many wholesalers in the market who needs dealers for their company. So, bargaining strength of the dealers is very low. This is one of the major issues of fear for Tesco Plc. The bargaining power of the purchasers is not that high in this industry infect its more beneficial.
Budget
Budget for the company is usually designed according to the company’s marketing requirements. If they are higher than the proportional budgets is designed with a bit higher ratio, while in normal days when no new product is launched then the company offers the same pre-decided ratio for marketing budget as it has to pursue many other company developments.
By the above discussed, this can be indirect that the marketing plan play an Essential role in the sensation or crashing of the company. These plan different activities which are planned to make the most out of it considering the policies and practices. This also shows that a company should also try to develop, target and place all the important strategies based on the requirements of the marketing plan. It is important for any organization to originate and invent
all the possible plan which in the future might play a role of pre requisite for the organization, in case of the collision of any of the marketing plan which been implemented before.
References
Brewster, C & Harris, H, (2004), Globalizing Human Resource Management, New York: Rutledge.
Drucker, P. F, (2008), Management: Tasks, Responsibilities, Practices, Transaction Publishers.
Hague, P. N, (2002), Market Research: A Guide to Planning, Methodology and Evaluation 3rd ed, Kogan Page Publishers.
Hall, J, (2008), Tesco ‘curbs’ its suppliers’ prices: <http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/2783800/Tesco-curbs-its-suppliers-prices.html>.
Porter’s Five Forces, (2008), <www.ifm.eng.cam.ac.uk/…/paradigm/5force.htm> Viewed 2 November 2009,
Tesco Still Has Opportunity to Growth, (2007),
<http://www.talkingretail.com/news/industry-news/6742-tesco-still-has-opportunity-for-growth.html>. Reviewed: 2nd August 2011.
Tescoplc, 2009, <http://www.tescoplc.com/plc/corporate_responsibility_09/suppliers_ethical_trading/fairtrade_products/>. Reviewed: 2nd August 2011.
Tesco’s still pushing discount products to fight back competitors, 2009, <http://news.idealo.co.uk/news/4521/tescos-still-pushing-discount-products-to-fight-back-competitors.html>. Reviewed: 2nd August 2011.