Marketing reformation, retention and development of competitive Essay

Marketing reformation, retention and development of competitive advantage - Essay Example The most important way to success in any industry has been always considered orientation on the customer needs and its satisfaction. Working in that direction provides guarantee to selling final products and in gradual increase of outputs. It is equally important to build networks with other stakeholders such as suppliers, distributors or intermediaries. Professional approach to dealing with all the stakeholders is crucial in sustaining competitive advantage vis-a-via the competitors outside the network. Using example of Tesco chain of groceries I will further discuss the ways in which the company sustains its leading position on the market and define current strategies as well as opportunities and threats that the company faces in today's competitive world. Many retail shopping centers have tried and failed to perform excellently outside their home markets. Likewise, some retailers have led astray trying to develop Internet shopping. As a result, TESCO, the United Kingdom's biggest grocer, has drawn significiant attention because of its ambitious overseas strategy and its successful on-line home delivery service. Another successful key factor that inputs to TESCO sustainable development and growth is the marketing communication plan that provides the detailed overview of the Company's fiscal policies as for meeting the clients' needs and providing competitive prices within wisely located grocers all over the world. TESCO understands that successful marketing strategy should be based on customers' need, that is why the Mission Statement declared for the Company sounds as it follows: "One of our values is to understand customers better than anyone. We go to great lengths to ask customers what they think, listen to their views, and then a ct on them. We look both at what customers say and what they do. This feedback guides the decisions we tale" (www.TESCO.com) Executive Summary TESCO s proved to be a ledng grocery chn n the Unted Kngdom nd lso the bggest grocery of the world. There re bout 2290 stores wth more then 296000 people employed ll over the world nd t hs ttrcted consderble ttenton becuse of ts mbtous overses strtegy nd ts successful on-lne home delvery servce. Relyng on sles of non-food tems nd on nterntonl sles--prtculrly n emergng mrkets--for n mportnt prt of the compny's future expnson, TESCO hs delvered one of the fstest orgnc growth rtes of ny mjor retler n the world. ts nonfood busness rose by 18 percent n 2000-01, nd ts nterntonl busness, whch begn wth lunch n Hungry n 1994, now ccounts for more thn 40 percent of the group's floor spce. TESCO lso hppens to be the undsputed world leder n nternet grocery sles (www.TESCO.com). ts on-lne home delvery servce s now proftble, TESCO sys, nd t hs struck del n the Unted Sttes wth Sfewy, whch wll use TESCO's system for home-shoppng servce. Underpnnng TESCO's success s excellent mngement nd n obsesson w th opertonl effcency nd productvty gns, whch the compny uses to keep prces low or to mprove servce rther thn to ncrese ts opertng mrgns. Despte ths mpressve record, TESCO s stll reltvely smll compred wth the lkes of Crrefour nd Wl-Mrt, but t s growng fster.Despte ths mpressve record TESCO stll fces number of chllenges during the fiscal year. The UK retler is smll n comprson wth the lke s