Tesco is currently the number 1 supermarket to keep their standards high and not fall down they will have to meet all their objectives; we will look at how they will do this.
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Tesco is currently the number 1 supermarket to keep their standards high and not fall down they will have to meet all their objectives; we will look at how they will do this. All businesses have objectives. Objectives are what businesses are trying to achieve over a period of time. Tescos has a large number of objectives and will use a range of activities to help achieve these objectives.
One of Tescos key objectives is to increase its market share. This means that it wants to sell more than its rivals such as ASDA and Sainsbury and to attract more regular customers. It will do this by opening more stores across the country even outside the UK. They will need to open longer hours, as some customers will be working during the day. To attract all kinds of customers they will need to have a wider range of goods. Internet shopping has also been introduced and is expanding gradually; soon it will be a regular thing. They have three different types of Tesco stores- Tesco Express; this store is attached to garages and is very convenient to those customers who prefer not to go into the main store, as they are not buying much. Tesco Extra; this store is open 24 hours and suits customers who work in the day and prefer to shop at night. Tesco Metro; this store is located in town centres and attracts customers who prefer to do all their shopping in the town centre.
Looking at customer needs is very important, by doing this you will attract more customers. To attract more customers is probably the most important objective of all. Greeting people and showing them around would be a good start as first impressions are very important. Customer services are also very important, as you will be handling any queries that the customers have. Tills will record anything bought so that they know what customers are buying this way they can order more of these goods. Club cards are also a good way of finding out what customers need as you ...
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Looking at customer needs is very important, by doing this you will attract more customers. To attract more customers is probably the most important objective of all. Greeting people and showing them around would be a good start as first impressions are very important. Customer services are also very important, as you will be handling any queries that the customers have. Tills will record anything bought so that they know what customers are buying this way they can order more of these goods. Club cards are also a good way of finding out what customers need as you will know what each customer is buying, this way whenever we have special offers on any products we can send offers an vouchers out to the appropriate customers, they are also used to give customers money back on what they have already bought, this is done by building up points on your club card and turning them into vouchers. Tesco also accept vouchers from other stores, which will attract a lot of more customers and will also fulfil the needs of regular customers, if they have vouchers from other stores. Having a large range of goods will also help with customer needs as you will attract all kinds of customers and fulfil their needs.
Another objective of Tesco is to gain customer loyalty. They gain this by registering customers to their club card so that getting points every time they shop at Tesco satisfies the customers. By getting points they will receive money back on them. Tesco has a lot of offers to attract customers to Tesco and not to any competitor's stores. Tesco get a lot of customers due to the big range of foods and items they sell this attracts a lot of customers. They refurbish new stores, as they want to attract customers by the new front of a supermarket. They put on offers to attract customers automatically to Tesco, as the prices are lower. Tesco also have a wide range of goods, which attracts many customers into Tesco.
Further objectives for Tesco is to make it grow large in size. In order to do this Tesco will open more stores including stores over seas and different types of stores. Building new stores or taking new over new stores will also expand the company. Taking over chains of stores is also a good way to make the company grow. Internet shopping is something, which will be expanding gradually, Tescos will have to respond to this; although they already have Internet shopping they will need to expand it. Different types of stores is very important as there are a lot of customers who prefer to shop in different areas at different times of the day.
In order to keep shareholders happy Tesco will want to increase its profits, this will mean putting pressure on their suppliers as some suppliers depend on companies like Tescos. They can pass profit onto their customers, which will attract more customers. Less staff when not needed will mean that you don't have to pay them and it will come back to you. Putting prices down on products in the store will attract customers, which will help increase profit. More stores and different kinds of stores will also help in this section. Tesco also keep everything refurbished to keep customers happy and to attract customers automatically to Tesco and not to any competitor's store.
In order to attract different types of customers Tesco will need to promote themselves as the supplier of quality goods and services. They've introduced the finest range, which are high quality and quite expensive types of food products. They also sell organic food, which are also dearer. Organic and finest ranges are high quality and expensive food products. Economy is low priced, by having all types of price ranges they will attract all types of customers. They have now introduced financial services such as loans, credit cards, savings accounts, ISA, mortgages, life insurance, motor insurance, home insurance, pet insurance, travel insurance, banking and travel money. They want to be seen as they have good services, they will need to keep shelves stacked at all times and never running out. They will also need to be really competitive as there are a lot of competitors out there.
On of the main objective to Tesco is to being more competitive. This has been achieved as Tesco have opened more stores around the country. This will help the people to locate the stores more easily; also by bringing new types of stores they can attract the customers in to entering into the stores than other leading supermarkets. They are able to achieve this objective as now the store sell other items beside the normal groceries and by trying to open stores for different purposes like selling petrol, insurance etc at cheap prices they are able to attract the customers into shopping with them besides other companies. Internet shopping also gives the customers to shop over the web so they don't have to come in the stores when they are busy and by doing this Tesco has won the customer in still shopping at Tesco through the web. Keeping the environment and hiring friendly staff customers are happy to shop with Tesco. Tescos main solution in being competitive is by the cheap prices they have to offer and the range of goods they have. This allows the customers to have good prices and the Tesco have more customers shopping with them. The prices still stoop lower with the club card to let then have money back on what they buy. This all leaves Tesco being one of the most competitive stores around.