Abstract
This research study is developed to provide fully detailed and analyzed data on strengths, weaknesses, opportunities, threats and development strategies of Tesco Company in U.K and other oversea county markets.
Company Profile
Tesco Company is leading food retailer based with headquarters located in Britain, Europe. The first Tesco store opened in 1929 in London, U.K. Latter on in early 1960, got familiar with most big U.K streets. 1990’s Tesco Company developed newer store concepts following their expansion and joining of the trend for large out-of-town supermarkets within the U.K and other neighboring countries (Althen, 2004, 56). Newly established store techniques by 1993 include Tesco Metro. A center city store developed to satisfy the local shoppers’ needs. Development of Tesco Express, U.K petrol station was the most convenient one for many consumers in the U.K. Until 1995, the company after that made further innovations like the introduction of Clubcard that was recognized as the U.K’s first loyalty card. Later in 1997, two years after the launch of the loyalty card, Tesco formed a joint business venture with the Royal Bank of Scotland. The primary role of the merger was to offer financial services to the company customers within and outside Europe.
Steady expansions internally and externally have made Tesco a word recognized company. Tesco Company strengths; (1) the company, well known for its powerful world brand; (2) Tesco store, remarkably known for its leading innovative characteristic; (3) also, Tesco is recognized as innovative, and consumer need satisfying. The introduction of Tesco Metro has made it easy for online shopping; (4) Tesco is also well known for its’ long-term relations since the introduction of the Clubcard. Some of the development constraints that Tesco experiences include; (1) stiff competition from other retail companies such as Sainsbury, Asda, and Morrison’s; (2) town planning effect of the U.K has made tough for Tesco to serve out-of-town consumer stores. The Company’s financial statements as at 2012: (operating profit 2015)
Reasons for choosing the company
For this study, Tesco Company was chosen because it is a multinational grocery company that operates in the forefront of international trade. It comes out more appealing for the case because it has a wider market across the world. Wider market reach acts as both a strength and opportunity for the company to increase its yearly sales (Brown & Turner, 2008, 56). With the increased planning and commercial awareness, Tesco has secured a diversified retail strategy that is targeted to accommodate the future, increasing consumer reliance on online shopping, digitalized products, and services as well as the provision of discount grocery services to potential customers (Andrade & Evans, 2009, 34). Tesco has opportunities which provide it with room for expanding, both internally and externally. On the special opportunity Tesco has is to broaden its hypermarket of retail food service.
Research Plan/Methodology
The study is planned to take an average time span of two months. The primary area of concern is consumers’ perception regarding product and service delivery. The research methodologies are;
(1) web-questionnaires, a method that involves online questions regarding Tesco service qualities;
(2) Departmental records analysis, this approach will ensure reading of financial data and making possible conclusions on the Company’s performance, strength and weaknesses (Bingham, 2009, 34);
(3) The market survey shall be done in analyzing Tesco potentiality of coping up with the steady rising consumer market in outskirts of U.K. Research data for analysis shall be obtained from departmental records, filled the questionnaire, and other corporate like Tesco Bank. The alternatives (Plan B) if the data collection fail in the research study will be changing the objective statement, or modify the data-collection techniques (Kotler & Fox, 2002, 34).
Bibliography
Althen, G. (2004). The handbook of foreign student advising. Yarmouth, Me, Intercultural Press.
Andrade, M. S., & Evans, N. W. (2009). International students: strengthening a critical resource. Lanham, Rowman & Littlefield Education.
Bingham, D. (2009). CIS higher education directory 2010. Woodbridge, John Catt Educational.
Kotler, P., & Fox, K. F. A. (2002). Strategic marketing for educational institutions. Upper Saddle River, NJ, Prentice-Hall.
Brown, M., & Turner, P. (2008). The admirable company: Why corporate reputation matters so much and what it takes to be ranked among the best. London: Profile.
