MARKETING PRINCIPLE

Marketing Principle



Introduction3

Task One4

Few definitions of Marketing4

Various Concepts of Marketing4

Cost and Benefits of Marketing Orientation5

Task Two6

Analysis of the Macro and Micro environmental factors6

The concept of segmentation and targeting methods7

Targeting Strategy9

Factors influencing the buying behaviour of consumers10

Range of Distribution Methods11

Task Three12

Extended Marketing Mix and their relevance to Service Marketing12

Future strategies for the Environmental Aspects of TESCO and M &S13

Differences between International and Domestic Marketing16

Conclusion16

References18

Marketing Principle

Introduction

TESCO is one of the leading retail companies in UK. The company maintains around large number of supermarkets, hypermarkets and convenience stores in the UK, Ireland, Central Europe and Asia. Tesco has its origins from 1919 when the entrepreneur known as Jack Cohen started large number of supermarkets from a stall located in Eastern region of London. The company achieved large number of profit levels from day one. The brand TESCO appeared five years in the year 1942, as the shipment of tea was purchased from a Mr Stockwell. During this period, TESCO slowly improved its operations in retail business and at the moment they are a number one brand in the UK retail business. The aim of the TESCO Corporation is to provide best products to the customers.

Marks & Spencer was founded in UK, where the first stall at Leeds Kirk gate Market was opened in 1884. In 1926 Marks & Spencer limited became a public company. Nowadays Marks & Spencer is a large multinational retail company that operates in more than 40 countries with over 300 stores around the world. As well as other multinational retail companies Marks & Spencer acknowledged the significance of people management from an early stage. A desire to develop reputation, as a good employer meant, that the company made a substantial investment in personnel related activities. Therefore, all the marketing principles related to TESCO Corporation and Marks & Spencer Company will be discussed in detail.

Task One

Few definitions of Marketing

There are two definitions of marketing which will be described in the following paragraphs.

Marketing refers to the performance that starts the direct flow of goods and services from the producer to the consumers.

Marketing refers to the exchange that takes place between the consumers and buyers. It is concerned with the regulation of certain factors in order to facilitate the entire process.

Various Concepts of Marketing

Production Orientation: The concept of Product Orientation refers to the organizational values where the competitive advantage is attained because of the increase in the business productivity and volume. This usually occurs in the manufacturing companies.

Product Orientation: The concept of Product orientation refers to an organizational culture where the competitive advantage is acquired with the creation of business leadership. The focus is there on the high quality product.

Sales orientations: The concept of sales orientation is concerned with the organizational culture where the competitive advantage is achieved in the business with the help of capable sales force to generate high levels of sales units.

Marketing Orientations: The concept of marketing orientation refers to the organizational culture where the high level of competition occurs because ...