Tesco’s success

They currently have 11 markets throughout Europe and Asia and are currently the market leaders in five countries. Tesco also currently have over 160,000 employees working internationally serving 28 million customers. Tesco has also adapted to the Multi-format stores internationally which targets the specific area, utilising space and providing customers with local offers which will interest them. This should thus meet the needs of the customer by gaining loyalty. In order to achieve continued international growth and maintain success Tesco has evolved an international strategy based on six elements.
These elements stress the need for flexibility and change when entering different markets and the need for customer feedback. Through the constant implementation of this strategy Tesco should have no problem in maintaining international growth. Tesco’s third aim takes Tesco to a completely new level with different more intense competition globally which they are not as familiar with. Tesco’s third aim is ‘Be as strong in non-food as in food’ which basically concerns the Tesco direct website, Homeplus stores (7) and Extra stores.
Some of the stores have opticians and over 240 pharmacies. Tesco have also adapted their ‘Tesco finest’ range in the non-food sector offering products such as cashmere jumpers. Tesco currently has a growing market share in the non food sector, with non-food sales growing faster than food operations. This clearly shows us that Tesco is doing something right in this sector and gaining the customers’ interest. Tesco ensures it has broad appeal by continually innovating and investing in new lines to increase choice for customers and maintain growth.

Currently 22 per cent of Tesco’s sales and profits in the UK come from Non-Food and whilst only owning about 7% of the market share can still generate 6 billion in profits in the UK alone. This clearly shows how successful Tesco have been in trying to meet their aim. Customers’ interests in non-food items are growing, profits are increasing and market share is growing. Therefore Tesco is making their non-food sector very profitable and are moving closer to their aim of making non-food as successful as food.
Tesco’s fourth major aim is to ‘Follow customers into new retailing services’ and since 1997 when Tesco entered the sector they have been achieving this aim. In 1997 Tesco Personal Finance was launched as a joint venture with Royal Bank of Scotland. It currently offers customers a choice of 26 products ranging from savings accounts and credit cards to car and travel insurance. Since 1997 TPF has been very successful and has attracted the customer’s attention. Tesco were able to make personal finance profitable and in 1999 Tesco launched a new on-line bookstore and on-line banking website
In 1998 Tesco Telecoms was launched, providing simple, straightforward telecoms services with great value tariffs. However Tesco didn’t take telecoms seriously until 2003. It has not purchased or built a telecoms network instead it pairs with other existing providers. To date Tesco Telecoms has over 2 million account holders and is proving to be a growing profitable business. For this assignment I am concentrating on my local Tesco branch located in Monaghan. It is one of the 95 stores currently in Ireland. Tesco has expanded in Ireland through takeover, mainly through the takeover of Quinnsworth stores for 680 million.
This is how it became the anchor tenant in the local shopping centre in Monaghan. Tesco support local growers and buys directly from manufacturers in Ireland wherever possible. For example they buy potatoes from local producers in Monaghan. It has become a very good employer and contributes to fundraising and supports organisations such as Rehab. Objectives In order to fully fulfil their aims Tesco have a number of objectives which they have divided into 5 main categories’s including: customer, community, operations, people and finance.

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more