Essay About Strategies Plans Of Tesco And Different Strategies

Vision, Mission, Values and Strategies Plans of Tesco
(Vision, Mission, Values and Strategies plans of TESCO)  Vision: Tesco is one of the largest retailers in the world. Tesco has the widest range of food of any     retailer in the UK. Tesco‘s vision have five elements. Tesco’s vision is to be highly needed by the customers they serve, applying their skills globally; to be a growth company; earning trust and loyalty from their customer as well as from communities and colleagues.  Mission: Tesco’s mission is to creating value for customers to earn their trust and lifetime loyalty.  Values: Tesco’s values are vital to its success. the values sit at the heart of Tesco. It helps them to achieve their goals.  Strategies: A strategy is a plan which sets out how a business set out it’s resources to achieve it’s goals.Tesco have a strategy of seven parts. Those are— 1. To grow the UK core. 2. To be an international retailer in store and online. 3. To grow retail services in all market. 4. To be as strong in everything they sell as they are in food. 5. To be a creator of highly credited brand. 6. Build their team so that they can create more values. 7. Put responsibilities to the communities those they serve. TESCO’s Marketing Mix (Product, Price, Place, Promotions)TESCO being the 2nd biggest retailer store throughout the world; has different strategies in Product, Price, Place and Promotions.Product: TESCO as a retailer started with Food and Beverage, Wines. Later it included different types of products in their product line such as: Mobile Phones, Books, Electrical products, Pharmacy products, Household Products, Bakery(Cookies) etc. Another thing is in TESCO’s product mix is Banking Insurance. They conduct it within their retailer store. Additionally,  TESCO had a different clothing for the male and female. They named  the cloths as FLORENCE(female) and FRED(male). TESCO also has different stores of Petrol and they introduce Seasonal  Products at the time of Christmas every year.Price: TESCO follows The Competitive Pricing strategy. It means their prices vary from store to store. As they have store throughout the world they, set prices from competitor’s prices. They face competition from AUDI, MORISSON, M&S. TESCO looks for the price in which they will be able to attract their customers. In the Exclusive Stores(discussed later) they follow “More for the More”  strategy. They provide the best quality products with a high price rate. As prices vary TESCO found an increase of 14% high price in the regular stores than the Exclusive stores in 2010.