MST 203 Marketing Coursework Essay Example | Topics and Well Written Essays - 1500 words

MST 203 Marketing Coursework - Essay Example It is irrefutable that this principle also changes the role and function of marketing managers in the business organization. Marketing management is defined as the "analysis, planning, implementation, and control of programs designed to create, build, and maintain beneficial exchanges with target buyers for the purpose of achieving organizational objectives (Kotler & Armstrong 2001, p.14)." Truly, the business arena has evolved from placing emphasis on production, product improvements, and selling approaches and started to focus on customers. Marketing management functions now covers how a company can create and extend more valuable goods and services to each customer. Tesco PLC is the largest British retailer based on both global and local shares. Traditionally, the UK-based international retailer specializes only in the distribution of food products but it currently adds other goods and services to its product portfolio which ranges from clothing to consumer electronics to consumer financial services to internet services to internet service and consumer telecom. Last February 26, the company announced a total annual turnover of 33.974 billion and reported a pre-tax profit of 1.962 billion. It is estimated that in every 8 UK retail sales, 1 is spent on Tesco. Tesco is currently one of the world recognized retailers. As marketing is an essential aspect of a business organization, it is irrefutable that Tesco's success can be attributed on how it manages its marketing activities. This report will specifically look at the management activities and decision which named the company as the #5 largest retailer in the global arena. Marketing at a Strategic Level Strategic planning is one of the essential marketing management activities undertaken by Tesco PLC. Accordingly, Tesco PLC's commitment in effectively marketing its products is mirrored in the way it crafts its mission, vision, and goals. Tesco states its mission as "Our core purpose is to create value for customers to earn their lifetime loyalty (Our Core Purpose)." This statement is further expressed in two key values known as "No one tries harder for the customer," and "Treat people as we like to be treated (Our Core Purpose)." With these statements and values as guides in conducting their business operations, Tesco PLC undoubtedly lays a strong foundation in marketing its products and services. Recently, the company launched its new simplified marketing strategy which is a response to the increasing complexity of operations due to the rapid growth of its stores, range of products, intense competition, and new customer demographics. These factors, along with other challenges make it relatively more difficult and longer for Tesco to make important decisions. Thus, simplifying their marketing strategy into three words which contains the core value and purpose of the company is seen to be beneficial. Tesco PLC's new marketing strategy is encapsulated into three words-Every Little Helps. Every Little Helps reflects the company's recognition that it has a huge feat to accomplish and that every little [effort] helps in reaching its goals.

Methodology Essay Example | Topics and Well Written Essays - 1000 words - 2

Methodology - Essay Example Over the last few decades, the exploring and understanding of phenomena has given birth to various paradigms of social research, especially in context of educational betterment. Paradigms are a mixture of concepts and variables, attached to methodologies and tools that can help shape research into a certain subject or verify a certain theoretical proposition (Saunders et al, 2006). The positivist paradigm seeks to gather true knowledge, utilising a method of observation and experiment. The primary approach used in this paradigm is quantitative, with surveys and experiments becoming the tools to gage relationship and effect between two or more entities. On the other hand, an anti-positivist paradigm approaches a research subject under a qualitative cloud, using case studies and phenomenological methods to understand a single entity and its activities. In reference to this paper, the approach taken is under the positivist paradigm, as the crux of the research is evaluating the link between two or more entities, and the effects of change that is passed because of the existing linkage. However, the author acknowledges the importance of the anti-positive approach, and aims to undertake some tools of this methodology like interviews, in order to reach a more comprehensive conclusion. The methodology of research adopted is important in selecting the most suitable approach by which the researcher can answer the aims of a paper. A part of the approach is linked to the strategy adopted by the researcher; if deductive, the researcher is seeking to develop and test a theory, while if inductive, it involves the gathering of data from which a theory is likely to be built (Saunders et al, 2006). The research in this paper is set around understanding the linkage between the Indian textile industry with the Western markets of Europe and US, and the impact of the global downturn and financial