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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 Introduction:- In 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 and requires information for marketing, they require the information because it will help the marketing department to invent techniques that are effective in catching the customer?s attention and also making them want to buy the product even though they might not need it, they use the information that they have collected to introduce new adventurous marketing techniques The marketing all occurs in the marketing department in the headquarters, the marketing team markets all the promotional tactics and research and also analyses. It would have information such as budgets, when promotions are taking place, customer?s opinions, trends and fashion trends in the market etc The advantage of the marketing team is that they are able to check and also research which kinds of promotional and advertisement ...read more.

Middle

are able to use in the future for anything that they require but the clubcardpoints can only be used in order to obtain anything that is offered by Tesco plc such as travel packages or car insurance. 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 but similar products at the person in hope of them being persuaded in purchasing the product. The whole point of the clubcard is for Tesco to identify customers buying habits and build promotional and merchandising campaigns around them The data that can be collected include the buying habits of their customers, their personnel data such as name, age, address, email account, gender, phone number etc. They use the data that they have collected for marketing and promotion reasons, e.g. they would use the information to find out the buying habits of their customers, they will then market promotional offers based on products that customers regularly purchase, they also use this to target promotional offers directly to the customers i.e. ...read more.

Conclusion

They also use the information and data collected for investment, budgeting, sales etc The way that Tesco PLC would obtain financial information is through deducting 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 if this is that Tesco PLC are able to tell in which areas 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 the 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 scrap the department which may have a small or big impact on the financial statement but it will have an impact 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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