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Business Online

Extracts from this document...

Introduction

Introduction In order to investigate my assignment I am going to conduct a research of an organisation that has an online presence, and I am going to compare my chosen business with a different business that doesn't have an online presence. An online presence means setting up a Web site for your business. The Web site may have a variety of functions, ranging from promoting the company to a wider audience, offering support/advice or selling products and services through e-commerce. The business I have selected to base my Online Presence Assignment is on Tesco. Jack Cohen, who served with the Royal Air Force during the First World War, founded Tesco. After returning in 1919, 21-year-old Jack invested 30 pounds of his reward for military service to buy surplus food stockpiles and he opened a little stall in East London. On the first day he had a four-pound turnover and one pound profit. Little by little, his business started to boom and Jack expanded to other markets all over London. He also began wholesale trade. Slowly this business expanded and at this present time it's the leading supermarket across Britain and also a multinational company and trading in a multiplicity of different countries, Tesco has also begun to further develop into selling not just grocery but also in other operations such as insurance policies and mortgages, gasoline retailing (Tesco express), small urban stores (Tesco metro), electronical/computer products for instance games, cds, DVDs, mp3s devices, toys etc... The reason why all this is being arranged is due to the competitive situation against its many rivals, Aldi, Asda, Sainsbury's, Morrisons etc... The company runs more than 2,700 supermarkets, super centres, and convenience stores in the UK, Ireland, Central Europe, and Asia. Built on the "pile it high and sell it cheap" philosophy of founder Jack Cohen, Tesco abandoned its discount format, with its down-market image, for a variety of dressier midmarket formats. ...read more.

Middle

?INCREASED PRODUCTIVITY OF SALES PERSONNEL Even though the company establishes its own web site, its sales staff would normally explain everything to potential new customers. Questionnaires would have to be carried out, brochures need to be mailed, phone calls would have to be made, all of which take time and effort (time is money). But when a company develops a web site that effectively describes all products and services and shows the strength and reliability of the company, customers often require only a few phone calls before they are ready to buy. This translates directly into "achieving more while doing less", a goal of any marketing tool. ?DIRECT REDUCTION OF COSTS As a result of a sales staff's increased productivity, many marketing fees can be reduced by a decent web site. Cost reductions are the result of, having fewer and shorter long-distance calls and faxes, reduced overnight deliveries and mailings, reduced need for designing and printing of brochures and other sales materials, and the possibility of replacing a high percentage of phone calls with E-mails. All of the above points are especially relevant for reducing expenses when handling customers nationwide. ?EASE OF ADDING NEW PRODUCTS When a company's marketing materials contain only written brochures, flyers, etc., it's costly and time consuming to add new products. Most of the time companies need to completely re-design and re-print brochures when adding just a single new item. But with a web site, all that's required is to add a new page, and to refer customers to it. Information about all products can be much more general than when using printed brochures because there is, practically speaking, no limit to space on a web site. Every part of product and service can be set forth in detail, including model features and prices, servicing, warranties, etc. The cost of this is condition compared to the cost of creating new written material. ...read more.

Conclusion

to create more targets and objectives for themselves so that they're able to keep their position to be no.1. By meeting these objectives, results in customer satisfaction and in this kind of business, their number 1 priority are the customers. There has been negative point of views that have been mentioned, like media trying to make money by making stories against Tesco, for example, there was once a claim that there are insects in some of the food products, which was cleared through a process of a lawsuit. A minority of the customers may complain about the slow service provided or the web page wouldn't load up properly, but always Tesco comes back with a method to satisfy its customers, by giving discount on late deliveries and vouchers for particular products. Tesco have face its bad periods, but it had always found a solution to sort it out and to improve on any mistakes made. With a leading industry like Tesco its surprising in which limits they would go to, to be no.1. And what they have realized that with great power, comes great responsibilities. But after the successful launch of their online presence Tesco's income per year has increased, clearly showing the increase during the period from when they launched the programme up to this present time: Five year summary 2001 �m 2002 �m 2003 �m 2004 �m 2005 �m Group sales 22,585 25,401 28,280 33,557 37,070 Turnover excluding VAT UK 18,203 19,821 21,309 24,760 27,146 Rest of Europe 1,737 2,181 2,664 3,385 3,818 Asia 860 1,398 2,031 2,669 3,010 20,800 23,400 26,004 30,814 33,974 Underlying operating profit � UK 1,100 1,213 1,297 1,526 1,694 Rest of Europe 70 90 141 184 218 Asia 4 29 71 122 152 1,174 1,332 1,509 1,832 2,064 Group underlying profit before tax * 1,070 1,221 1,401 1,708 2,029 Group profit before tax 1,054 1,201 1,361 1,600 1,962 Underlying diluted earnings per share * 10.66p 12.14p 13.98p 16.31p 18.30p Dividend per share 4.98p 5.60p 6.20p 6.84p 7.56p Return on capital employed �� 11.0% 10.8% 10.2% 10.4% 11.5% Received from: (http://www.tescocorporate.com/page. ...read more.

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