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Marketing Sales and Negotiation Skills Assignment Sample

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Marketing Sales and Negotiation Skills Assignment Sample

1. Introduction

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In this following context, there will be a significant discussion of marketing, sales, and negotiation skills of a chosen company, Tesco. It’s a British multinational company which offers groceries and common merchandise. As a matter of fact, the company has been considered as the third largest retailing sector around the world according to gross revenues. Therefore, in this section, a brief discussion of PESTLE and SWOT analysis has been represented in order to evaluate the marketing environment of the country in which the company is going to operate. Moving on, an effective marketing mix has been demonstrated to understand the basic marketing strategies of the company to the chosen country. Through implementing a personal reflection of sales and marketing criteria, the purpose of the study will be satisfied. 

The primal role or purpose of effective marketing has been utilized in making a product successful in the chosen country or marketplace (De Luca et al., 2020). Therefore, the role of marketing is to certify organization survival, development, and status, adapting the accurate price, superior product offerings, producing utility, economic expansion, meet customer requirements and desires, releases social responsibilities, etc.  

Tesco-FB-1080x630.png

Fig 1: A Typical Tesco store

(Source: Brannen, Mughan, and Moore, 2020)

2. PESTLE and SWOT Analysis 

2.1 PESTLE analysis

PESTLE analysis of Tesco in the UK marketplace will become accommodating to identify the marketing environment.

Factor

Impact

Political

  • Government regulations 

  • Political circumstances

  • The political and government rules differ in every region. As a matter of fact, the brand makes decisions about their business deal through sustaining rules and regulations (Adamyk, 2019). 

  • An extraordinary political input is extremely important in order to run a flourishing business (Baliyan, 2021). The political environment of the UK has facilitated Tesco to be converted into high-rated retail in the local market. 

Economic

  • Impact of COVID19 pandemic

  • market expansion 

  • The pandemic situation has been proved to be beneficial for Tesco to enhance the productivity and sale of the company through online shopping websites.

  • For the widely held of its proceeds, Tesco still relies on the British local market (Adamyk, 2019). In case of that, the government of UK initiates any kind of regulations on delivery model business and online shopping then the consequence will straight impact on the productivity, transactions, and price of the company (Baliyan, 2021). 

Social

  • Cultural impact

  • employment opportunities 

  • The focal intention of Tesco is to change the product quality according to customer’s basic demands from generation to generation. The company keeps taking initials about the changing approaches and trending culture of the UK (Stümke, 2017).

  • The rate of unemployment has been increasing day by day according to various researches. As a matter of fact, Tesco offers multiple employment advantages to the local people (Stümke, 2017). 

Technological

  • E-COMMERCE 

  • Amazon go technology 

  • The pandemic situation has enhanced the popularity of online shopping procedures. Tesco has increased its profitability and not getting affected by the awful situation of the pandemic through delivering the products on time and utilizing e-commerce platform (Merritt and Zhao, 2021). 

  • The company has taken a joint venture with Amazon Go in order to build a cashier trouble-free billing.

Environmental

  • Sustainable efforts 

  • It has been observed that Tesco has launched recently a significant recycling plan which will be effective to reuse, remove and reduce the usages of plastic (Singh, 2017). As a matter of fact, the recycling plan will be accommodating to reduce and eradicate non-recyclable plastic. 

Legal

  • Rules and regulations 

  • fraud case 

  • The European Union has launched several regulations which confine the companies to achieve any kind of anti-competitive movement in 2018. As a consequence, Tesco becomes incapable to combine and obtain within large companies (Merritt and Zhao, 2021). 

  • For having numerous fraud cases, Tesco has been unsuccessful to offer the authentic profitability of the company in 2017. As a matter of fact, the court obliges a serious punishment for giving deceptive information to the company (Singh, 2017).

2.2 SWOT Analysis

The SWOT analysis of Tesco will illustrate the strengths, weaknesses, opportunities, and threats of the company in order to examine in detail to assess the methods of Tesco and its business strategies for expanding business in the UK.

Strengths

Weaknesses

  • Customer experience

  • Exceptional performance

  • Technological innovation

  • Competitive pressure

  • Poor performance

Opportunities

Threats

  • Strategic alliances

  • Joint ventures opportunities 

  • The benefits of emerging markets

  • Economic recessions 

  • Competitive threats 

  • Rising food prices

Discussion:

  • Strengths: The Company has won multiple awards for its exceptional including customer service and entire shopping occurrence. Therefore, the retailer company has also been considered as the most profitable and largest grocery supermarket around the world (Fatricia, 2017). The improvement of technological innovation and its utilization has accommodated the brand for making outsized efficiencies and developed service experiences. 

  • Weaknesses: However, Tesco has encountered several economical downturns due to its c competitive pressure. As a matter of fact, the increasing rate of competitive pressure has directed the company to price wars, and that has eroded some retailer's revenue boundaries when the company has to take a closer look to enhance the competitive advantages (Verasophon, 2018). According to various reports, it has been observed that few retailer formats of Tesco which operates in foreign countries have been proving to be unsuccessful due to its deprived performance. 

  • Opportunities: It has been observed that there are numerous advantages for strategic alliances with other companies and admired brands in order to provide additional products or to create a center of attention for more customers in the targeted market. Therefore, by implementing joint venture strategies within the local companies, the company will be beneficial to get to know about the market intelligence and market research in order to improvise the presentation of the chosen region. However, the increasing rate of emerging markets still clutches frequent advantages for definite retail formats (Fatricia, 2017).  

  • Threats: The rising rate of credit crunches and economic recessions will constantly intimidate the productivity and market share of the company. Therefore, these are the primal reasons for dropping the number of purchasers (Verasophon, 2018).  Competitive threats might become capable to offer a more unique product at comparatively low prices. Therefore, the increasing rate of food prices around the world has been responsible for decreasing Tesco’s profitability. 

3. Discussion of Marketing Mix Factors and Analysis 

The marketing mix factors of Tesco will illustrate certain business tactics f the company to develop in the international marketplace:

Marketing Tactical Tools

Current Strategy (Based on Each P) Applied in Chosen Organisation 

Evaluation On the Effectiveness of Each Marketing Tool Currently Applied in The Context of Chosen Organisation 

Product 

Fulfilling customers basic needs 

The company offers an extensive variety of grocery products including clothing, electronic devices, food items, etc (Casonkajonthip, 2020). Tesco’s major intention is to accomplish the demand of the customers in every possible way. 

Price

Comparatively low prices. 

Tesco's efforts to sustain comparatively low prices put side by side to its rival companies and that is an extremely beneficial factor (Verasophon, 2017)

Promotion

Creating a unique image 

The opportunities of sustaining low prices create an exceptional image of the company in order to differentiate itself from other rival companies (Tian, 2019). The major objectives have always been to enhance its brand recognition through decreasing costs and being true to its words. 

Place

Customer’s satisfaction

According to various studies of Tesco, it has been observed that not all consumers are secure within its largest stores (Casonkajonthip, 2020). As a result, they constantly make effort in order to create smaller stores for effortless accessibility. 

People

Excellent sales assistance

Having extraordinary sales assistants has been proving to be significant for the company to get succeed in the international marketing platform (Tian, 2019).

Process

Happy customers 

A procedure including rapid billing services, excellent behaviour, and effortless purchasing of products maintains the superiority of the business (Haleem, and Jehangir, 2017). 

Physical evidence

Attractive retailer stores

Tesco stores are quite attractive and, in these stores, it is very much effortless to find the way with all products fine categorized and unproblematic to find (Haleem, and Jehangir, 2017).

3.1 Recommendations of marketing mix of Tesco: 

Marketing Tactical Tools



Recommendations To Each P

Product 

Regarding the fact of COVID19 pandemic situation, Tesco should continue to focus on maintaining a hygienic distribution channel for their potential customers.

Price

Tesco tries to maintain a low price which is quite acceptable but in case of further future, the company requires having the ability to take initials about price-related issues. 

Promotion

The company should advance its technological performance and try to give focus on social networking sites more in order to promote the brand (Coe, Lee and Wood, 2017). 

Place

In order to create effortless accessibility for the potential customers, Tesco should take the necessary strategies to build up smaller stores.    

People

The employees and sales assistants of Tesco have to be highly competent and well-compensated to contribute to the company for achieving multiple successes. 

Process

The company needs to take more initiatives for keeping the customers happy by providing them an exceptional quality of service and a superior attitude (Coe, Lee and Wood, 2017). 

Physical evidence

The Tesco stores have to make sure for sustaining a vigorous atmosphere inside the stores regarding the fact of COVID19 pandemic. As a matter of fact, people are now becoming more conscious about health and hygiene.  

 

4. Sales and Negotiation Skills

Sales and negotiation abilities can be a resource of anxiety for salespeople. As per my conception, the sales and negotiation skills of Tesco have to be more efficient and extraordinary in order to gain its productivity and for superior brand endorsement. In every case, a typical negotiation course has been forecasted on the basis of Win-Win. According to my viewpoint, it is indeed necessary for both the customers and suppliers and the company to rely on each other’s offers in the process of their dealing with each other (Brannen, Mughan, and Moore, 2020). According to my various significant research of Tesco, I have understood that during the time of Dave Lewis joining the brand, the brand has to make crucial moves in order to restore the irregular retailer supplier relationship and equalize the balance. 

As per my conception, the primal fact is that suppliers’ major intention is to focus on less time in the procedure of negotiation. Therefore, I have learned that creating an extraordinary relationship with suppliers by providing them extra profits and building a trustworthy attitude.  Also, it is indeed necessary to approve a collaborative advance to negotiation according to my viewpoint.

5. Conclusion and Recommendation 

The entire report demonstrates certain managerial tactics and marketing strategies of Tesco Company in the UK. According to the PESTLE analysis, it has been observed that the awful impact of COVVID19 and various fraud cases has greatly impacted the company and creates several political tensions.  As a matter of fact, the increasing rate of rival companies and enhancement of pricing rate has been proving to be an uncertain factor for the upcoming future of Tesco (Brannen, Mughan, and Moore, 2020).

  • The company needs to maintain proper health and hygiene-related issues during the time of its distribution procedure.

  • Tesco requires having the ability to focus on the pricing rate.

  • In the case of emerging new rival companies, the company needs to manufacture some signature products for better brand recognition (Brannen, Mughan, and Moore, 2020). 

  • Few formats of Tesco which fails to operate in various foreign markets have to be maintaining the specific culture of the country to initiate in the chosen country.

 

References 

Adamyk, K., 2019. PESTLE Analysis on Tesco PLC.

Baliyan, R., 2021. A Shift in Paradigm for Apparel Industry Post Covid 19. Turkish Journal of Computer and Mathematics Education (TURCOMAT), 12(13), pp.5203-5211.

Brannen, M.Y., Mughan, T. and Moore, F., 2020. The creative use of insider ethnography as a means for organizational self investigation: The “Essence of Tesco” project. In The Routledge companion to anthropology and business (pp. 132-154). Routledge.

Casonkajonthip, N., The factor in marketing mix that will influence consumers the most when they make purchasing decision on Tesco Lotus's House brand products.

Coe, N.M., Lee, Y.S. and Wood, S., 2017. Conceptualising contemporary retail divestment: Tesco's departure from South Korea. Environment and Planning A: Economy and Space, 49(12), pp.2739-2761.

De Luca, L.M., Herhausen, D., Troilo, G. and Rossi, A., 2020. How and when do big data investments pay off? The role of marketing affordances and service innovation. Journal of the Academy of Marketing Science, pp.1-21.

Fatricia, R.S., 2017. STRATEGIC ANALYSIS OF TESCO SUPERMARKET. Jurnal Manajemen Terapan dan Keuangan, 6(2), pp.69-86.

Haleem, F. and Jehangir, M., 2017. Strategic management practices by Morrison PLC, UK. Analysis, lessons and implications. Middle East Journal of Business, 12(3), pp.2-9.

Merritt, K. and Zhao, S., 2021. An Innovative Reflection Based on Critically Applying UX Design Principles. Journal of Open Innovation: Technology, Market, and Complexity, 7(2), p.129.

Singh, T.P., 2017. Organized Retailing-A SWOC Analysis. International Journal of Research in Management & Business Studies, 5

Stümke, L.I., 2017. Business Diplomacy: The elucidation to ease multinational corporation’s business risk in developing countries and conflict-prone zones (Master's thesis, University of Twente).

Tian, Q., Analysis on the Business Strategy of Tesco in the Chinese Market. 

Verasophon, P., CRM and the critical analysis of database marketing: a case study of Tesco Clubcard.

 

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