Evaluate the marketing techniques, research and analysis used by one of your selected organisation and make original recommendation for improvement.
In the following task I am going to provide detailed evaluation of the marketing techniques, research and analysis used by Tesco to make original recommendations for improvement.
Marketing concept is a concept based on focusing your business on customers. Tesco can use this concept as it puts customers first and at the centre of the businesses decisions making and planning. Tesco can use different concepts such as:
Production concept – This concept concentrates on production and distribution economies. ...view middle of the document...
For future innovation and improvement I will suggest that Tesco could do more research on their competitors and customers to find out exactly what customers want and if it is a long term project. There ways in which Tesco can do this analysis is by doing questionnaires and making customers participate in surveys to investigate strengths and weaknesses of their business and how they can gain a larger market share in the future. I suggest that Tesco should do more research on their competitors and try to provide products that are better than their competitors. Using this concept to helps them to improve the service for customers.
Also for the products and to give customers competitive pricing in accordance with their competitors. This concept also helps to enlarge aims meaning that if Tesco follow this concept they can expand into many new areas and markets.
Understanding customer’s needs – markets change rapidly and so it is essential that organisations constantly look for new products and market opportunities.
Utilising new technology – this is an area that has been gaining importance over the years. The use of technology is now considered by many marketing managers as a key marketing principle.
Communicating effectively with customers – in many markets where competition is intense, high levels of promotional support are a necessity if an organisation is to succeed.
Understanding and keeping ahead of competition – increased competition can have a dramatic impact on an organisation.
Source: BTEC national business book 1 I 2nd edition
For future innovation and improvement I will suggest Tesco should consider other alternates to understand customer needs. Two useful sources of research in how they can do this is by using primary and secondary research and questionnaires regularly to get constant customer feedback to improve the business and provide a better service to their customers. Tesco could also used another form of research known as qualitative and quantitative research, in this way Tesco could get some sort of idea of what customers like and what they want form Tesco.
For future innovation improvement and innovation I will suggest that Tesco should try to keep ahead of competition by finding out what promotions their competitors are offering to their customers, By gathering this information Tesco if they have to can reduce their prices so that more customers come to Tesco which leads to an increase in market share as customers know that Tesco are cheaper this can lead to increased sales and larger profits.
For future innovation and improvement I will suggest that Tesco should communicate more effectively with customers by having more special offers and more promotional offers so that they can become more popular with customers and more successful in the future. Another way Tesco can communicate more effectively with customers is by offering larger discounts to club card holders...