Innovation in Tesco

Innovation in Tesco is seen as the key point for its customers and also to its business. Tesco aims to improve self service and provide better value rather than focus on pricing only. These principles are carried out across the business to non-food, service and international business. To enable this, the company pays considerable focus on harnessing the creativity of its workforce and encourages staff to come forward with ideas. Because of the increase of international competition, innovation is important for every business.

It is very important to be innovated for Tesco in Chinese marketing.

1. Create new products

2. Supply special products

3. Co-operate with local suppliers

4. Price competition

New product or service development: following are those steps which will be used in product development:

1. Idea generation

-To find idea

-Combination of two products you have into a single package or perhaps a product and a service, something to set your offering apart from others.

2. Analysis

- Analyze the potential success by asking some of customers what they think.

3. Development

-To combination of 3 simple products such as (a burger, fries, and soft drink) into another product that is separately branded (a McDonald's Happy Meal).

4. Testing

- To find out if people are actually to buy the new and improved product.

- Be ready to make instant changes, if necessary, including raising or lowering the price or offering other incentives to move the product.

5. Marketing.

- Move on to actively marketing your new product on a full scale, hopefully with noticeable improvements in sales.

The price of Tesco production although is not the cheapest one, but it can set up the one chain of production which can be the cheapest one. Such as to make accessorizes of daily use be the cheapest price than other supermarket, therefore customers would like to buy it only at Tesco.

You can choose a wide variety of methods to distribute your products and services. You'll probably end up with a variety of methods.

Direct distribution methods include your providing your products and services directly to your customer. Direct methods are, for example, direct mail, retail, catalogs, or even over the Internet.

Indirect methods include having a middleman. Indirect methods