Tesco's Reviewing Marketing Strategies and Tactics

Introduction

This assignment is going to focus on Tesco's reviewing marketing strategies and tactics. Tesco is one of the top three largest retailers in the world, with a large market share in the UK market. This report will mainly discuss the marketing elements and strategies of Tesco by demonstrating multiple views and inspirations from academic theories. The assignment will also discuss different theories which other researchers have found and compare them to Tesco strategies.

Literature Review

1-1. Tesco

Tesco's is one of the top three largest grocery retailers in the world. Tesco is operating more than 4,881 stores worldwide and employs more than 472,094 people. Tesco started in 1917, founded by Jack Cohen and changed its name to Tesco PLC in 1983 from Tesco store (Holdings) LTD. Tesco started its e-commerce business 'Tesco.com' in 2000. Tesco is available in 13 different countries outside the UK and is not only a food retailer. It retails different products such as clothing, electrical items, mobile phones, banking, alcohol and many more. (Tesco, 2010) Tesco has become a number one retailer in the United Kingdom with group sales of £62.5bn. At present, Tesco has grown up to 53% in the operating global GDP and it was operating 8% in the year 2000. UK revenue was £38,558m, Europe £8,704m, Asia £8,439m and US £349m in around the world. (Tesco, 2010). Tesco introduced a Club card for customers to save their cash and obtain vouchers. This club card allows Tesco to know what customers bought and for how much. The Club card is one the most efficient tools for Tesco. "Tesco's £150m Club card revamp is a clear statement of intent by the UK's leading supermarket chain." (Joe Thomas, 12/05/2009)