Tescos Customer Focused Strategy - 1433 Words

The market share under Tesco’s control has been progressively increasing since the nineties and as consequence of the retailer’s customer focused strategy. The strategy seek to achieve long-term growth while focusing on four elements, Non-food business, Core UK business, Global market as well as retailing services (Davenport, Leibold and Voelpel, 2006, p. 212). Tesco seeks to continually increase its market share while making sure that it provides exceptional value as well as choice for customers. Apart from food products, the retailer seeks to enhance its market share through offering nonfood products that include a broad array of electrical equipment, clothing, furniture, home entertainment, home furnishings as well as cooking tools among others. Retailing services strategy also changes in order to react to shopping demands of customers through offerings of new products and services. So that the market leader position of Tesco can be sustained and strengthened, the retailer should always endeavor to meet the ever increasing needs of the customers (FitzRoy, Hulbert and Ghobadian, 2011, p. 20). In 2003, the retailer became aggressively involved through sponsorship of seminars, talks and symposiums on health issues while focusing on the prevention of illnesses. Therefore, the retailer may decide promote the fresh and healthy foods it offers to customers while highlighting the significance of a healthy mind and body. The company can introduce food supplements, vitamins andShow MoreRelatedTesco Strategic Options948 Words   |  4 PagesDiversification This is a most risky strategy as organisation enters into new market where it has no information available or less experience. The risk could be failure of acceptance of products by consumers not making enough sales. Tesco has diversified its market by launching different non-food products into new markets. Tesco enjoys long-term success due to being focused and Tesco has main core vision, which remains same while the corporate strategies change according to the changing worldRead MoreTesco Corporate Strategy913 Words   |  4 PagesTesco: Encyclopedia II - Tesco - Corporate strategy Tesco - Corporate strategy Tescos growth over the last two or three decades has involved a transformation of its strategy and image. Its initial success was based on the Pile it high, sell it cheap approach of the founder Jack Cohen. The disadvantage of this was that the stores had a poor image with middle-class customers. In the late 1970s Tescos brand image was so negative that consultants advised the company to change the name of itsRead MoreBusiness Strategy Of Sainsbury And The Superstore Sector1268 Words   |  6 Pagesindependently to attracting the customers. The strategy of Sainsbury’s for its customers is on delivering an effective service quality, whereas ASDA is engaged in procuring value for its customers and these competitive attempts employed by the Tesco’s rivals are creating the issue of managing price and quality of its commodities (Which, 2012). Moreover, the customers of Tesco independently have an insignificant amount of strength in terms of the entire corporate strategy of the company (Tesco, 2011a)Read MoreTesco: from Domestic Operator to Multinational Giant (Case Study from Exploring Strategy 9/E)1048 Words   |  5 PagesOperator to Multinational Giant. 1. Identify the reasons behind Tesco’s Internationalization Strategy. Tesco sought to take advantage of undeserved and immature markets, particularly in Europe and followed by Asia. Central Europe in particular was the first phase of its expansion in the post-soviet era. Tesco had achieved measurable success in the UK market which was highly regulated and competitive. Due to regulatory pressures, Tesco focused on its operations and capital investment within UK, whichRead MoreImportance Of Stakeholders In Tesco870 Words   |  4 Pagesor is affected by the achievement of the organization’s objectives. Furthermore, stakeholders are the suppliers, customers, employees, stockholders and the local communities who contributes positively for the growth of any business by having claim in an enterprise (Langtry, 1994).With respect to the annual report of Tesco (2016), stakeholders are defined as group of people (customers), colleagues, shareholders, and supplier partners who have a solid governance framework which helps in rebuildingRead MoreTesco s E Business Model1707 Words   |  7 PagesTesco’s E-Business Model Regarding the e-business model of Tesco, the retail giant has adopted the Market Portal Model, which is an interactive model (Tidd and Bessant, 2015). This model accommodates not only the customers but the supplier side as well. It also includes the innovative functions and features that enable both the customers and suppliers to do business in an effective way. The popularity of this model is that some others global retails, such as U.S.-based Wal-Mart, have also adoptedRead MoreThe Vision And Mission Of Tesco Essay1380 Words   |  6 Pagessuccess does not happen by chance. Tesco’s leaders have always a high standards and clear goals. Moreover, leaders put customers, communities and employees as a heart of the organisation that has to consider through delivering a great shopping experience for every customer and generating the satisfaction for employees in workplace (Tesco 2015). Vision and Mission The vision and mission plays an important role in the organisation. Long- term business success is focused by Tesco through a core vision whichRead MoreEssay on Tesco Value Chain1017 Words   |  5 Pagesjuncture, it is intriguing as to Why TESCO has been successful in creating value for customers and capturing it? From here on, we analyze how TESCO competes aggressively to capture value from its competitors and suppliers. Further, the essay will delve into how TESCO cooperates with its competitors to expand the Potential Industry earnings and create value for the whole chain. TESCO’s Value Capturing Strategies TESCO believes in being the â€Å"lowest priced† firm in the mass market segment. ForRead MoreCustomer1411 Words   |  6 Pagesa successful company should focus on its products and profits. But now, marketers tend to regard satisfying customer needs as one of the key elements of achieving success under contemporary marketing environment where is filled with fierce competition. This indicates that many firms nowadays always attempt to identify customer needs and concentrate its production and strategies on customer demand in order to survive in the market. This essay will firstly clarify the reasons behind the trend, whichRead MoreCase Study : Tesco s Core Values Essay1436 Words   |  6 Pageswhich each sell over  £1 billion per year. Tesco’s core values include a commitment to using its scale for good by being a responsible retailer. In 2010, it opened world s first zero-carbon supermarket in Ramsey, Cambridgeshire and it was awarded Green Retailer of the Year at the Annual Grocer Gold Awards 2012. Companies, like Tesco, that enjoy long-term success, are focused businesses and they have a core vision that remains constant while the business strategies and practices continuously adapt to a