MST 203 Marketing Coursework Essay Example | Topics and Well Written Essays - 1500 words

MST 203 merchandise Coursework - Essay ExampleIt is irrefutable that this principle also changes the role and function of market managers in the business organization organization. selling management is defined as the analysis, readying, implementation, and control of programs designed to create, build, and maintain beneficial exchanges with target buyers for the intent of achieving organizational objectives (Kotler & Armstrong 2001, p.14). Truly, the business arena has evolved from placing emphasis on production, product improvements, and selling approaches and started to focus on customers. Marketing management functions now covers how a company can create and extend more valuable goods and work to each customer.Tesco PLC is the largest British retail merchant based on both global and local shares. Traditionally, the UK-based international retailer specializes only in the distribution of food products but it currently adds other goods and services to its product portfolio wh ich ranges from wear to consumer electronics to consumer financial services to internet services to internet service and consumer telecom. Last February 26, the company announced a total annual turnover of 33.974 billion and reported a pre-tax profit of 1.962 billion. It is estimated that in every 8 UK retail sales, 1 is spent on Tesco. Tesco is currently one of the world recognized retailers. As merchandise is an essential aspect of a business organization, it is irrefutable that Tescos success can be attributed on how it manages its marketing activities. This report will specifically look at the management activities and decision which named the company as the 5 largest retailer in the global arena.Marketing at a Strategic LevelStrategic planning is one of the essential marketing management activities undertaken by Tesco PLC. Accordingly, Tesco PLCs commitment in effectively marketing its products is mirror in the way it crafts its mission, vision, and goals. Tesco states its m ission as Our core purpose is to create value for customers to earn their life loyalty (Our spunk Purpose). This statement is further expressed in two key values know as No one tries harder for the customer, and Treat people as we like to be treated (Our Core Purpose). With these statements and values as guides in conducting their business trading operations, Tesco PLC undoubtedly lays a strong foundation in marketing its products and services. Recently, the company launched its new simplified marketing strategy which is a response to the increasing complexity of operations due to the rapid growth of its stores, range of products, intense competition, and new customer demographics. These factors, along with other challenges invent it relatively more difficult and longer for Tesco to make important decisions. Thus, simplifying their marketing strategy into three language which contains the core value and purpose of the company is seen to be beneficial. Tesco PLCs new marketing s trategy is encapsulated into three words-Every teentsy Helps.Every Little Helps reflects the companys recognition that it has a huge feat to accomplish and that every little effort helps in reaching its goals.