Introduction
This assignment is studying about the marketing philosophy in the multinational-operating grocery retailer. Tesco in United Kingdom was established in 1919 by Jack Cohen. The product portfolio includes food and beverage, clothing, household appliances and financial services (‘Tesco Groceries’, 2020). Tesco is one of the leading brands in UK and has reliably ranked the highest in terms of grocery market share. Headquartered in Hertfordshire, this company has more than 500,000 employees worldwide (Wunsch, 2019).
Tesco has nearly 7,000 stores worldwide. They offer customers at around six different store styles, which vary in size and product range. For example, Tesco Supermarkets are typical large supermarkets that sell food and non-food products compared to Extra stores (Tesco PLC, 2019). Company assumes that customers will buy more if aggressive sales techniques are used. Tesco performs advertisement where medium like television, newspapers to promote the product and also develop consumer attractions.
Tesco having cash and carry outlet is personal presentation of a firm for making sales of the product and club card is the form of developing relationship with the costumer. The idea that a company’s marketing decisions should consider consumer’s needs and wants, long-term interests in long run between consumers and the company. (Kotler & Armstrong, 2017) The strong retail industry has brought investment to towns across the UK and supported the local health economy.
“Every little help.” (‘Every Little Helps – Creative Review’, n.d.) A slogan since 1993 created by agency Lowe Howard-Spink and till now. This is still TESCO’s business principles. For example: When a customer complains that TESCO’s products are out of stock, TESCO will still use the online channel to simply reply to each customer’s question, and will immediately answer and respond to the problem and why it is out of stock The reason is that through online real-time replies, this can save valuable time for both parties. In this way, TESCO can immediately improve the problems with customers, so that customers can be quickly resolved, so that the relationship with customers can be maintained good to make it loyal to the business, so customers are willing to spend more motivation to buy, therefore TESCO becomes the number one supermarket in the UK.
