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For this coursework I will produce a portfolio of work investigating the factors that have contributed to the success of a business. The business which I have selected is Tesco PLC.

Extracts from this document...

Introduction

Unit 1 - Investigating Business 2010- 2011 For this coursework I will produce a portfolio of work investigating the factors that have contributed to the success of a business. The business which I have selected is 'Tesco PLC'. The reason why I have decided to investigate Tesco is because it is a multinational corporation which has over 2000 stores in the UK, and is the leading supermarket with 31% market share. Tesco initially started as a Sole Trader and then after trading successfully it became a public limited company (PLC), this enabled it to sell shares on the London Stock Exchange and was one way which Tesco received funds and expanded their company. Tesco also has limited liability which is a huge benefit for shareholders as it protects their personal belongings if Tesco was to go bankrupt. Tesco's mission statement states that they aim to "Create value for customers, to earn their lifetime loyalty." This will lead to customers to continue to make regular purchases which overall increase their sales and profits. Also providing 'value' to their customers will give Tesco an excellent reputation and this is vital for them to gain loyalty from their customers. My research shows that a family of four will spend up to a �100 on food and drink weekly, this is where Tesco aim to capitalise and make sure these customers are using their store. If Tesco's didn't meet their aims and market their company successfully they would not be the leading supermarket with 31% market share, but my research shows that Tesco achieved �3 billion profit and this is through being a well established brand and making sure every store works towards achieving the same aim. If a store does not meet this aim Tesco will have to review and assess the situation. Tesco have achieved this success due to the fact that they have ensured their stores are working cooperatively to satisfy its customers' needs. ...read more.

Middle

Tesco have been extremely wise in allowing an Asian Sweet Shop to trade in their store as they knew it would increase their profits and sales, it was also more convenient for customers as they are able purchase their spices and sweets from the same place without wasting time. The Royal Sweets Shop will also bring in huge amounts of customs of Asian people during special festivals such as Eid, Diwali and Vaisakhi or when people have weddings and parties as they are likely to purchase sweets for the joyous occasions. However during my research I have identified one issue towards the Royal Sweets Shop, is that the types of food it sells is extremely unhealthy, which could affect Tesco as they are promoting healthy eating throughout their store and this could lead to bad criticism and public relations. Halal Meat Shop Tesco have also introduced a new Halal Meat Shop in their store which has been there for almost three years and has been extremely commanding in Slough. Tesco had enough room in their new store to sublet to a Halal Butchers; and by enacting this they have attracted a huge customer base to their superstore. The company saw a gap in the market and have filled it by supplying an authentic Halal Butchers in their store which benefitted Muslims and Asians extremely. The store has been extremely popular with customers as they are able to trust the butcher as he is working under the branch of Tesco whom have a huge reputation. Also it shows the company is displaying an effort of team-working with local stores by allowing them to trade in their store. From my investigation I have discovered that Tesco used to supply their own Halal meat products but customers were reluctant to trust them and therefore it didn't sell as well. This is one of the reasons why Tesco have decided to allow the National Halal Meat Shop to trade in their store as it attracted customers and looked more appealing. ...read more.

Conclusion

As well as this they know that people who shop at Tesco will need items which are necessities such as milk and bread, so these will be kept at the back of the store so customers are able to purchase different products on their way. They also have staff walking around with a 'here to help' sign who will tell customers about special offers. In addition to this they have well advertised displays around the store which they hope will attract customers. All of these different marketing tactics will alert interest into their products and lead to impulsive buying. One factor of promotion that I feel Tesco need to improve on is with their financial services. Currently they advertise these on their website and with leaflets at the checkout, I feel that customers may be attracted to these and read a leaflet however they may not go through with it. If Tesco had a counter in their store which dealt with all of their financial services, customers may feel more comfortable decide to use their services. Van and Online Shopping, Clubcard! Carrier Bag Promotion, Fruit And Veg! Going Abroad One of the new aims that Tesco has adopted is to expand their brand name abroad. Tesco have been extremely successful througout the U.K and after this success decided the best option would be to expand abroad. Expansion has been a huge success for Tesco as they have increased their overall sales and profits and attracted a wider market and gained more potential customers which will ultimately lead to an increase in their sales and profits. Tesco have expanded their stores all over the world which now spans 13 countries across Asia, Europe and the United States. One way that Tesco has ensured its success with trading abroad is by responding and ensuring that they follow all of the legal factors, different currency fluctuations, and the culture of different countries. This has allowed them to trade successfully within these countries as they have adopted their trading styles and the different political ?? ?? ?? ?? ...read more.

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