MARKETING PLAN

MARKETING PLAN

MARKETING PLAN

Introduction

Establishing its business in the new market is a challenge for every company, no matter which sector or industry it belongs to, there are some major changes that every organization has to develop. Marketing plan gives companies a new direction to their business. For this assignment I have selected Tesco Plc, to design a marketing plan for entering into a new market. Tesco was created in 1919 by Jack cohen. The company started its operation in 1929 and became a public limited company. It is listed in the london stock exchange and its an important part of FTSE 100 index. Currently the company is listed as the third largest retailer in the world in terms of revenues. Tesco has 3700 stores and 440,000 employees all over the world. The operations of Tesco is spread all over the world. Its located at China, U.S, Thailand, South korea, Japan, India, Turkey, Poland, Hungary, Czech Republic, Malaysia, Republic of Ireland, and in Slovakia. Its business is very diversified and it serves its customers in the sectors of clothing, music, electronics, finance,telecom, furniture and the retailing of books. This marketing plan focuses on tesco's marketing plan for establishing their business in a developing country Pakistan.

Discussion

Mission

Tesco's mission statement:  “Our vision is for Tesco to be most highly valued by the customers we serve, the communities in which we operate, our loyal and committed staff and our shareholders; to be a growth company; a modern and innovative company and winning locally, applying our skills globally.”

Tesco's mission statement is to make the best use of the human resource to serve its customers and fulfill their needs. Tesco wants to retain a loyal workforce that is dedicated to achieve the company's goals and objectives. Tesco wants to transform every customer into a loyal customer. Tesco has designed a club card service to value their loyal customers and provide them with free vouchers and promotions.

Marketing plan for Pakistan

According to experts the outlook for retail industry in Pakistan still looks positive, besides all the economical and political instability. The major players in the retail industry of Pakistan are getting good profits and their businesses are booming. Pakistan is a country where the companies can benefit from cheap skillful labor. In today's world U.S is the leader of the retail industry and Wal-Mart is the largest global retailer. The Pakistani industry has a significant potential in the retailing industry. The dynamic changes in the global market and customer's needs make it very difficult for the companies to follow a single strategy for a long period of time. Due to the recession and current market situations companies have faced a major loss in sales, inventories and loyal customers. Even though the world is facing a recession, the retail industry has flourished and contributes to more than 12% of the global economy (Imran, 2011). The retail chains like Tesco have flourished a great deal due to its critical understanding of customer's demands and their loyalty ...