Tesco is a British multinational retailer company. The company is the third-largest retailer company in the world in the context of gross revenues. The company was founded by Jack Cohen, in the year 1919 in Hackney, London. The headquarters of the company is situated in Welwyn Garden City in England. The name Tesco was first coined in the year 1924 when Jack Cohen bought a batch of tea from T. E. Stockwell and joined the three initials in the midst of the first two letters of his surname (Mooney, 2019). The first shop was opened in 1931 in Burnt Oak city of Barnet. After that the business has increased day by day since 1939 and that he has over 90 shops around the country. Today, Tesco has more than 7000 shops all over the world. Tesco has expanded its business around the world after 1990. After the 1960s, Tesco has diversified its business by expanding its business branches, like in book retailing, apparel business, electronics, toys, petrol, software services, telecom services and many more. In the 90s, Tesco has developed its business from a down market regarding high volume low price to attract a wide range of premium range (Rosnizam et al., 2020). Tesco Company has been enlisted in the London Stock Exchange and becomes a part of the FTSE 100 Index. The company enhanced its product range from only households’ things to other grocery things. This report will cover all the business perspectives and goals taken by Tesco. The report is to discuss the integrated marketing communication strategy taken by Tesco and the various models of marketing communication and the tools related to its business strategy.
The company has stabilized its place as the largest retailer in the UK and takes fourth place around the world. Tesco operates its business around Europe, America and Asia and has more than 4 lacks employees around the world. In the year 2010, the total revenue was about 55 thousand million-dollar and that was about 5% increasing result from 2009. Having more than 4000 stores in 14 countries, the company offers food retailing, non-food, petrol stations, and various household groceries (Loonam et al., 2018). Besides, Tesco has expanded its business in the area of finances, telecom sectors, etc. Tesco has opened its personal finance bank named Tesco Bank and it includes Life insurances, home policies, travels insurance, saving accounts, personal and business loans, secure investment bonds, mortgages, etc. In the telecom sector, the company gets access to dial-up internet, sim cards, mobile network and mobile phones (Alexander, 2020). The non-food sector has helped Tesco to grow more revenue. This sector has been created to focus on multiple business arrangements and to create more stability in the business. This sector of the company has been focused on by means of low cost and higher revenue. It is to improve the merchandising skills of the company. The UK has introduced more strategies in the company as it helps to grow the company more in the retailing sector. The UK helps the company in delivering more goods in a challenging situation and it has increased more than 4% of sales. The company is focusing on helping clients in no time and with reasonable prices for a wide range of products. The international business of Tesco has been growing very steadily managing all the economical challenges in the global business market. Tesco Company holds a gigantic position in the world by generating a more than 20% retailing business.
Marketing communication in the company has been used to communicate with the customers in the respect of product offerings. It is just a new side of the communication process in terms to grow business. The most important part of integrated marketing communications is market research. By market research, the company gets to know the various needs and requirements of the customers and that can help the company to meet customer requirements. To grow a company it is very important to know the needs of the customer and to pay attention to the various requirements and the expectations of the customers to do better in fulfilling the needs (Štrach, 2018). Tesco has clearly mentioned that one of the most important things the company manages is, the company always hear the customer requirement and they focus on customer orientation.
ASB/ABJ 4440 Consumer Behaviour in a Global & Digital World Sample
From this report, it is concluded that from the very beginning Tesco has changed its strategies a lot to improve its business. The company has expanded through the world by discovering various customer requirements and establishing marketing communication to communicate with the customers to know better their needs.
Alexander, I.N., 2020. The influence of technological innovations on organization’s competitive advantage: Case study on Irish food retail company (Tesco) (Doctoral dissertation, Dublin, National College of Ireland).
Loonam, J., Eaves, S., Kumar, V. and Parry, G., 2018. Towards digital transformation: Lessons learned from traditional organizations. Strategic Change, 27(2), pp.101-109.
Mooney, S., 2019. An investigation into attitudes of Tesco customers in South Dublin towards private-label brands (Doctoral dissertation, Dublin Business School).\
Rosnizam, M.R.A.B., Kee, D.M.H., Akhir, M.E.H.B.M., Shahqira, M., Yusoff, M.A.H.B.M., Budiman, R.S. and Alajmi, A.M., 2020. Market Opportunities and Challenges: A Case Study of Tesco. Journal of the Community Development in Asia, 3(2), pp.18-27.
Štrach, P., 2018. Emerging Trends in Marketing Communications: Personalization and Eventization. Marketing Identity, 6(1/1), pp.160-167.
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