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Unit 11 P2 Explain how relationship marketing can be applied to Tescos

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Introduction

P2- Explain how relationship marketing can be applied to a selected business Introduction:- This report will explain how relationship marketing can be applied to a selected business, the selected business that has been chosen is Tesco PLC Introduce your selected business and outline its strategic aims and objectives: Tesco has stores in 14 countries across the world. In the UK it is the grocery market leader it has about 30% of market share. This means that Tesco is the main supermarket leader in the shores of the UK, they also offer many other products and services such as, Tesco mobile, click and collect, Tesco own branded products, Tesco bank The key purpose of Tesco is to make profit. Tesco as of 2007 is third largest retailer in the world measured by revenues and is the second largest in the world measured by its profit. Tesco is in the tertiary sector. This is because its sells the products, it doesn?t manufacture or directly get the product from its primary sector. Tesco?s has millions of shareholders which the majority shareholder only has around 3% of the shares. This just shows the vast amount of shareholders that Tesco?s has because the majority shareholder only has 3%. It is PLC in the private sector. Tesco PLC is a business to customer business as its main customers are the general public Tesco PLC strategic aims and objectives include: * To be strong in selling of everything, as strong ...read more.

Middle

this promotion will not be relevant to other non-Muslim customer as they don?t participate in Ramadan, but the might be intrigued to go and buy products as they are on sale and they would save money, the different segments of customers will understand it in different ways Tesco PLC would first try to get a person to use their organisation through targeted advertisement and marketing, and also through special offer so you go and try their services and products. Tesco PLC will then try to the make the person a customer through trying to make them regularly shop at Tesco PLC, they will do this through personal promotions and emails, this would only occur if the customer gets a loyalty card, another way they will try to make it personal, is through impressing customers with their good customer service. Tesco PLC will then try to make the customer a client through making the customer a client, they will do this through making the customer use the organisation services such as telecommunication, banking etc, by buying in to such services makes it harder for customers to exit. After creating the client Tesco PLC will then try to make the client a supporter, the supporter will encourage and approve of Tesco PLC saying that they are the best and they will also refer their friends and family to Tesco PLC so they regularly use Tesco PLC. ...read more.

Conclusion

This is done through advertising campaigns and promoting or indirectly such as sponsorship. The reason why this is important to Tesco PLC is because this will then increase sales of branded products for Tesco PLC Relationship marketing increases trust so when a business launches a new brand they are more likely to work, such as when Cadbury release a new product it usually works as it is built on the Cadbury?s name, this also is the same when a brand is extended e.g. when iPhone released iPad, McDonalds released Mccafe. When Tesco PLC create a new brand or brand extension it will be highly likely to be successful as they are a trusted brand, they are trusted as Tesco finest, when they launch new products they are likely to work as Tesco finest is trusted. Before Tesco PLC does brand extension or creates new brand they do research to make sure it will work an example of this is Technika, this is a Tesco electrical brand Conclusion: This report has explained how relationship marketing can be applied to a selected business, the selected business that has been chosen is Tesco PLC. The report also outlines its strategic aims and objectives and has described the marketing mix elements in Tesco PLC. It also describes how Tesco PLC applies the principles of the ladder of customer loyalty ...read more.

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