• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Tesco Business Activity

Extracts from this document...

Introduction

How did Tesco Become So successful? Tesco have become so successful in the past few years, there are many reasons for this. The main ones would be that Tesco did lot of market research on the consumers and competitors; they have done both primary and secondary research. They have done research on which products are highly profitable and which ones are big sellers. Tesco has also carried out research on their competitors and consumers and therefore able to decide the right prices, they have analysed there marketing strategies, market share, products being sold, services being offered and prices. I have analysed that Tesco has done a great deal market research and in return they have been able to grasp a 31% market share in the grocery industry. ...read more.

Middle

I believe that Tesco has done good research and followed that up with a great business strategy on a whole; they have been able to establish them themselves in a very competitive environment. Tesco were able to become so successful in the grocery market because: > They were market orientated. > They were able to do sufficient market research. > They were able to offer competitive prices. > They were able to offer a variety of products to suit all socio economic groups. > They were able to meet the customer's needs. Non-Foods: In the Last few years Tesco has felt the need to diversify into other markets. Such as clothing, electronic, children's toys and also started to offer household products .By doing so they have increased their profits and made their customers life easier. ...read more.

Conclusion

Tesco are offering mortgages, credit cards, loans and many types of insurances. Tesco Finance was a 50% joint venture with the Royal Bank of Scotland. The business made a profit of �130 million for 52 weeks up to the 24th February 2007, of which Tesco's share was �66 million. This move towards the financial sector has diversified the Tesco brand and provides opportunities for growth outside of the retailing sector. My final conclusion is that Tesco as a brand has been able to diversify many markets and with in such a little time and have been able to grasp 31% of the market share in the grocery market, 30% of the market share in the non food market and 13% of the financial sector, Which is a great achievement considering the time and the harsh competitive environment. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Business, Companies and Organisation, Activity section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Business, Companies and Organisation, Activity essays

  1. Outline of the Aims/Objectives of Sainsburys and Tesco.

    they will not have to pay planning and manufacturing fees for new premises seeing as it is virtual reality therefore they are eliminating the need to pay for constructing new outlets. A global business on the Internet does not require building costs such as paying for land or labour, just a web site and possibly one central warehouse.

  2. Business Studies Edexcel Coursework

    However, an even better solution would be to advertise his company on the Yellow Pages website, Yell.com. He is able to display the most crucial details for FREE - this is ideal since he must spare money at the beginning of his solo career.

  1. Tesco Research

    Internal, is communication between colleagues within the same company. External, the communication with the outsiders like for example customers, shareholders, local community, government, and also suppliers. In my opinion, it is better for me to submit the information above that is requested by the information manager by different means such

  2. Business Studies

    how much the business makes after paying for the cost of goods sold > Net profit ratio works out for every $1 of sales how much net profit the business makes after paying all expenses > Return on owners equity works out how much income the owners receive from their

  1. English for business

    Long term relationships need a greater complexity of behavior. Difficult people hope that due to their behavior we will either start to give priority to their wishes or that you will leave them alone. Difficult people are not restricted to the workplace. Working relationships have few emotional ties and are more detached whereas within the home environment lurks a complex web of history and emotions.

  2. Business Plan. After putting a lot of thought into what kind of business we ...

    year we would have doubled the customers we have in the first year. Short term objectives - survival All business, no matter how big or small they are, undergo a survival process when they first start their business. This protects them in the future if they face difficulties because of

  1. Business Studies - Researching The Feasibilty

    sold there where only 2 out of the 4 ever selected, J Room and Pupil's Entrance. Pupil's Entrance being more popular so this is where I will sell. The most popular method of promotion was to have information about the Yearbook in the announcements.

  2. Business Stakeholders

    Customers will usually be interested in things such as: * The range of goods and services offered * The price and quality of goods or services * The opening hours and availability of staff * The helpfulness of staff * The overall efficiency of staff Customers are really important stakeholders because they could either make or break a business.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work