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Unit 4 D1 Evaluate the appropriateness of business information used to make strategic decisions

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Introduction

D1- Evaluate the appropriateness of business information used to make strategic decisions This report will evaluate the appropriateness of business information used to make strategic decision. This will be based upon marketing and finance. It will also state how the marketing and finance team actually do their research and what they do with it in Marketing Tesco PLC uses requires information for marketing, this is because it will help the marketing department to enhance techniques that will encourage to catch their consumers? attention and also making them want to purchase the product that they might not need it, they use the information that they have collected to introduce new marketing techniques. Marketing will all occur in the marketing department in the headquarters of an organisation, the marketing team markets all the promotional tactics and research and also analyses. Marketing information will contain things such as budgets, when promotions are taking place, customer?s opinions, trends and fashion trends in the market etc. The advantage of having marketing team in the organisation is that they are able to check and also research which kinds of promotional and advertisement tactics they ...read more.

Middle

The club card is used in Tesco PLC, this is a service which allows their consumers to collect clubcard points, which they are able to use in future for anything that they require but the club card, however the points needs to be used in order to obtain anything that is offered by Tesco plc such as travel packages or car insurance etc. The information that is on the clubcard consist if the products that the person purchases from Tesco PLC supermarkets so they are able to target different branded products, but related products the person in hope of them being persuaded in purchasing the product. This indicates the club card is for Tesco to identify customers buying habits and build promotional and merchandising campaigns. The data that is collected from their consumers buying habits, their personnel data such as name, age, address, email account, gender, phone number etc. businesses use the data that they have collected for marketing and promotion reasons. For example, they would use the information to find out the buying habits of their consumers, and then market promotional offers based on products that customers regularly ...read more.

Conclusion

This indicates that they also use the information and data collected for investment, budgeting, sales etc Tesco PLC would obtain financial information is through taking the cost by the profit in order to find out the operating costs and the revenue. It will also be used to set budgets. Analyse sales, and also predict profits. The advantage of this is that Tesco PLC are able to tell in which aspects of their business are making a lot of profit and which are making not a lot of profit so they are able to make drastic changes in order to improve their profit and cost market for those different Tesco PLC departments. The disadvantage of this is that if they changes are already made and not much has changed in the profit margin then Tesco PLC might have to get rid of the department which may have a small or big impact on the financial statement but it will have an impact. In conclusion the report has stated the effectiveness of business information such as finance and marketing which is used to make strategic decision. It has also stated how the marketing and finance team actually do their research and what they do with it in ...read more.

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