MARKETING STRATEGY & EFFECTIVENESS

Marketing Strategy of an Organisation and its Effectiveness

Abstract

This research focuses on the impact of marketing strategy of TESCO on customers' satisfaction. Mixed research approach was used for this study. Survey was conducted at Tesco outlets in United Kingdom and among 150 customers. Finding of this study revealed that marketing strategies plays a vital role in customer satisfaction that ultimately enhances Tesco effectiveness.

Executive Summary

Tesco is one of the successful and most recognised supermarket chain founded in UK. Tesco is the largest retailers in the world; and has stores across the world. Tesco showed a consistent increase in the market share and profitability. The aim of this study is to examine the relationship between marketing strategy of Tesco and customer satisfaction.

A marketing strategy can be defined as a process that may allow a firm to focus on its scare resources on the greatest opportunities to achieve sustainable competitive advantage and to increase sales. Thus, the key aim of marketing strategy is to attain customer satisfaction. Customer satisfaction is one of the significant indicator and remedy in both management and marketing researchers.

There is a vast literature available that examine the impact of marketing strategy on customer satisfaction. The marketing mix (4Ps) refers to marketing tools set and an organisation utilises to follow its objectives of marketing in the target market. When a retail store advertise or promote its products, they must formulate a successful mix of the right product, in the right place, sold at the right price and by means of appropriate promotion techniques. Studies confirmed that customer satisfaction is vital for organisational effectiveness and efficiency, although, other factors like marketing strategy, productivity and cost control also has an effect on the bottom line. By increasing customer satisfaction, a company may enhance the chances for the customer to make a purchase again; whereas, decreasing the cost of marketing and cost of sales.

The study used a mixed research approach. Questionnaire was distributed among 150 customers at Tesco outlets. Most of the study respondents were aged between 31-40 years, were female, and were educated individual, whose monthly household income ranged between £90,000 and £120,000. The findings of the questionnaire showed that there is a significance relationship present between customer satisfaction and marketing mix variables or marketing strategy. Customers do not take account of product considerations at Tesco; therefore, does not impact customer satisfaction. This is because customers make a purchase of fast-moving products immediately and frequently with less purchasing efforts and minimum comparison. In addition, there is a significant but negative correlation between customer satisfaction and promotion consideration. This is because customer view that aggressively advertised product might be problematic products. The study results conclude that only product, price and place have a significant influence on customer satisfaction, as well as on customer decision to make a purchase at Tesco outlets.

Abstractii

Executive Summaryiii

Chapter 1: Introduction1

Background of the Study2

Aim and Objectives of Research3

Chapter 2: Literature4

Marketing Strategy4

Product Strategy5

Pricing Strategy5

Place Strategy6

Market Structure7

Customer Satisfaction8

Customer Satisfaction & Organisational Efficiency9

Chapter 3: Methodology12

Research Design ...