Marketing planning Essay Example | Topics and Well Written Essays - 2500 words

Marketing planning - Essay Example In order to attain the above mentioned objectives, Tesco would have to implement certain significant tactics that include the broad conception of marketing mix which fundamentally comprises the 7 P’s, market segmentation, positioning as well as targeting tactics. Furthermore, Tesco should majorly focus upon the rise in its industrial network portfolio along with universal market expansion in future. In this context, Tesco can initiate the tactic of offering cheaper products for the customers along with possessing powerful brand image, especially to cope up with the fierce competition in the grocery business market in UK. These particular tactics would assist Tesco to accomplish its objectives by a significant level concerning with the fact that the reputation of the organisation is constantly growing. Apart from the above mentioned tactics, Tesco could follow certain other major plans that include the conception of new product innovation along with the idea of Total Quality Ma nagement (TQM) (Scribd Inc., 2012). Additionally, there lies certain other crucial dimensions of tactics through which Tesco could attain its expected business goals by a considerable level. The different dimensions include the consciousness of Tesco regarding the various law set of laws that applies in its particular business operating location along with complying with them in an effective manner and mitigating the issue of Credit Crunch that affected the performance of Tesco in terms of sales.. In this regard, it has been observed that the economy of UK has been experiencing a challenging situation that resulted towards the decline of the economy due to the emergence of significant issues related to Credit Crunch. Such an issue, in due course, affected the disposable earnings of the individuals in the country which indicated that the people or the customers largely focussed upon the idea of saving their valuable money rather than making expenditures for the consumption of products apart from their basic needs. Hence , the purchasing capacity of the customers was observed to slacken in that particular area. In order to mitigate the consequences led by weakening customer purchase, Tesco applied