• 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. Tesco Research

    13-Jan Preliminary Results Announcement (FY 2004/05) January Second Quarter Trading Statement (FY 2005/06) 07-Jan Third Quarter Trading Statement (FY 2004/05) Manipulation: This data has been manipulated this way in order to look presentable, with clear and easier understandings. Only excel was used so that it could be formatted.

  1. English for business

    �As we have a lot to get through this morning, can we agree on ground rules? �I suggest the following ...... Moving to the first point Handing over to another person Bringing people in ( encouraging hesitant speakers ) "would you like to add anything?"

  2. Business Studies

    may offer discounts to account customers for early payment of their accounts > Other incentives may be; small gifts or discount on future orders Shortening of credit terms: > May chose to shorten the credit period it allows * Effective profitability management > A good accounting and financial system has

  1. Business studies - Business Plan

    market that a company aims to sell its product to, this could be people of different age, gender and income. My target market will be people of all ages, as age does not affect whether a person has a like or dislike of a particular food.

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

    company if they are ill as there will be no one to cover them. * The owner can be sued by a customer because sole traders are unincorporated. Partnership Another form of ownership would be partnership. A partnership business can be owned by 2-20 people.

  1. Produce a marketing strategy for a new or existing product or service

    Cola, by placing factories around the world, the distribution of the drink becomes very easy.. For promotion and advertising they use celebrities to popularise their drinks, recently Coca Cola signed a sponsorship deal with Christina Aguilera. The ironic thing about this is that the Competition between Pepsi and Coca Cola

  2. Business Stakeholders

    After all it is the customers' money that is making the businesses profits and paying their employees wages so for that reason businesses have to keep their customers constantly satisfied otherwise they could just not shop there anymore and the business will lose out on a lot of capital. 2.

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