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Tesco Business Activity

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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.

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