Business Administration (BA)
Coursework of Marketing planning organization and control
Devise and justify a marketing plan for Tesco which would improve their profitability.
1. Explain concepts, influences and decisions relevant to marketing planning;
2. Evaluate a range of information sources toproduce a balanced and coherent academic argument within the context of marketing planning.
• Focus - the extent to which you interpreted correctly and concentrated on the requirements of the assignment.
• Knowledge and understanding of issue - the extent to which the report incorporates and shows genuine understanding of how to evaluate sources
• Structure andcoherence – how you have approached the work
• Presentation - the overall appearance of the work
• You should submit both the hardcopy of your coursework and electronically
• Students are expected to adhere to the word limit and not exceed 2750 words for the coursework task.
“Strategic marketing planning is defined as an organization-wide planning as a way ofresponding to market opportunities, external environment and target audiences; when doing strategic marketing planning, the decision must be in line with the mission, vision, internal strengths and resources available to the company” (Hannagan 1992; Kotler & Andreasen 1996; Andreasen & Kotler 2003; Meek & Meek 2003).
In this way marketing Plan can be seen as a development that structures andprioritizes marketing decisions that the company is considering. Marketing Planners will have to collect data on consumer needs, examine strengths and weaknesses of the company, opportunities and threats to the environment, to organize production, marketing and promoting its products under the best conditions.
These decisions are all targets, which can give numerical predictions to estimate costs andassess as accurately as possible. These forecasts will monitor the achievement of objectives in order to possibly make some corrections.
In order to achieve a marketing plan which can help the company to anticipate and improve, it is relevant to follow different steps which are:
■ Mission Statement
■ Executive Summary
■ Internal and External Analysis
■ Objectives■ Marketing Strategies
■ Identification of Resources
■ Implementation of Marketing Plan
■ Marketing Budget
Tesco is a UK-based international grocery and general merchandising retail chain.
Jack Cohen founded the company in 1919 when he began to sell surplus groceries from a stall in the East End of London. Tesco was floated on the London StockExchange in 1947 as Tesco Stores (Holdings) Limited. The first self-service store opened in St Albans in 1951 (still operational in 2009 as a Metro), and the first supermarket in Maldon in 1956. During the 1950s and the 1960s Tesco grew organically, and also through acquisitions, until it owned more than 800 stores. The company purchased 70 Williamsons stores (1957), 200 Harrow Stores outlets (1959),212 Irwins stores (1960), 97 Charles Phillips stores (1964) and the Victor Value chain (1968) (sold to Bejam in 1986). Tesco is now the largest British retailer by both global sales and domestic market share, with profits exceeding £3 billion. The company employs 195,000 staff in UK and 260,000 worldwide. They have 979 outlets worldwide, in South Korea, Thailand, Taiwan, Czech Republic and SlovakRepublic, 729 of which are in UK. TESCO is estimated to be enjoying 16.7 percent of market shares (Torex Retail).
(Based on information found on http://en.wikipedia.org/wiki/Tesco)
Tesco is good at reducing its structural costs and is very flexible. Thanks to a well marketing analysis of its market and of its own business, the company has become an example for many businesses in term of...