How the 4 P's relate to the aims and objectives of Tesco

How the 4 P’s relate to the aims and objectives of Tesco

Product, price, place and promotion are all essential factors that Tesco need to take into consideration when ensuring the success of their business. How ever there are a variety of different aims and objectives in which Tesco have to pursue, therefore in the following paragraphs my primary objective to demonstrate how each of the 4 p’s interfere with Tesco’s aims and objectives. The aims in which I am going to study are:

Full global expansion as a business

Become a very profitable business

To make the business people value the most

Maintain market dominance

To be as strong in food as in non food

To have loyal and committed staff

In order for Tesco to fully globally expand as a business then their major concern in relation to the 4 p’s would be place and promotion. Tesco need to ensure that they have researched into all of the major public areas around the globe in order to gain maximum customer attraction. Promotion is also another factor in which Tesco need to consider when aiming to globally expand. Seeing as though they want to be a popular business globally then there are going to be different ways and methods in which they can advertise and promote their enterprise in different countries. Therefore I believe that a good idea would possibly to research into the countries culture and traditions and elaborate and expand on these traditions and use them as a method of promotion. How ever all of the basic methods of promotion remain the same, Tesco need to ensure that they gain maximum public attention by advertising on the television, billboards and the radio.

This is a preview of the whole essay

If Tesco’s want to expand further on the vast amount of profit they are currently making then their main concern would be product. Customer satisfaction is Tesco’s primary objective therefore innovative and quality goods are needed to be produced in order to satisfy their customer needs. This customer satisfaction then leads to the customers buying more of Tesco’s innovative and quality products, which then eventually results in the business making a profit from the goods that they are offering to the public. So if Tesco’s intend to expand on their already highly profitable business then they must continue to research into innovative and original products to maintain maximum customer attention and satisfaction. Not only is product a factor of the 4 p’s in which they aim to research in but also price is another matter and issue which needs to be taken into consideration. Tesco’s reputation is known for its excellent value, low prices for innovative and quality goods and services. In order to continue to gain profit then they must continue to offer their customers value in price. I believe if they want their business to continue to increase in the immense amount of profit they are making then there prices to the customers should simply be reasonable, not too low and certainly not too expensive.

There are a range of different superstores supplied right across the UK and the rest of the globe, therefore if Tesco’s intention is to ensure that the customers value their business the most then they must maintain their excellent reputation and provide customers with great value for money. They must continue to promote and advertise their business to the public through all kinds of the media using a variety of different methods, this could vary from offering the customers special deals and offers, or producing clever and unique advertisements on the television in order to appeal to their customers. Promotion is not the only sector of the 4 p’s in which Tesco’s need to concentrate on, Tesco’s as a business need to ensure that they are producing and establishing quality good and services to the public. If they want their supermarket to be the most well known and have the highest reputation then creating such innovating ideas and products will lead to the customers respecting the business and lead to a high reputation.

Market dominance is needed to be maintained if Tesco want to be the number one superstore in the UK and in the future possibly globally therefore