Free Sample: Marketing Mix paper example for writing essay

Marketing Mix - Essay Example

I will be explaining how the company (Tesco) I have chosen help them to achive their aims and objectives effectively. In order to achieve their strategic aims and objectives tesco has set goals to achieve. Tesco: Our mission: To create value for customers to earn their lifetime loyalty. Our Value: To provide good services to the customers Whether we are working in the U. K or overseas our mission and our value are the same. Enuering we meet our customer need by providing them with good quailty product at attractive (cheap) prices.

Objectives for 2006/ 2007: For the next year their objective is to increase their sales (for the next year). They have made the profit of i?? 1bn so far this year. Tesco is assuming by the end of next year their profit figure will even rise!! Staff of Tesco: over the next 12 months the aim of tesco is to provide even better training for the staff so that their (staff) will be able to provide a good knowledge of the product they are selling and an excelent customer service, customer can ever get.

The reason they have decided to do this is that Tesco is not only selling food but they are also selling NON-FOOD products eg electronical goods. They want to assure anyone who comes to any of the tesco branches to buy the electronic devices they get the information they need to know before they buy (electronic) goods. Each objective /aim set by the tesco needs to be “smart” so that it is easily achived. Each objectives set by the company must be “smart” so that it is easily achivecd within the time which is set by the individual or TESCO

SPECIFIC: what anyone one to achive must be stated exactly e. g by when. To avoid confusion MEARUREABLE: to achive something some sort of goal/or target must be set. So that performance can be assesesed. ACHIVEABLE: objectives should be Challenging, but must be achiveable, unrealastic or unachived goals can be demotivating instead!! RELEVANT: objectives should be set that will actually help achieve over all aims. TIME RELATED: for every goal, whether it is small, big deadlines must be set, Even though if they have to be changed in future, otherwise there is very little Prsesure to achive.

In the company the aims and objectives are the only effective tool to enusre all staff are clearly aware of what is expecetd of them, if the objectives set by the company to be achived. The advantages of setting aims and objectives is that it encourages all the particpants (Staff) to put sufficient efforts because every member of the company is aware what he, she has got to do. Goal setting will also help the company to plan and be ahead of their competitors. Tesco competitors are Sainsbury, ASDA, and Morrisons, Because of goal setting this will help them to know how their business is doing e.

g which changes they need to make to attract more customers or which areas need more development. The objectives set by the tesco for this year 2006 and 07 are SMART because their objectives are specifc and they know what they are aiming for. (Products, People). Tesco aims are meaureable because they have set a time by which they want to achive their goal. For any goal time setting is Very Important because its tells you or (company) whether they or you have achived your goal or not.

Tesco aims are achiveable because they know how long it will take them to achive their goal and Tesco employ 450,000 staff, which operates in its business around the world. Their staffs deal with millons of customers in a week. Tesco goals are relastic because they have a specfic target which are to improve their Product and offers even better service to their customers which will be able to accomplish (Met) by giving the training to staff and giving them a better product knowledeg so that staff is able to answer all the questions asked by customers!

All the goals set by Tesco are also time reliable because they have set a deadline, which must be met in 12 months. Tesco PLC is listed on the London Stock Exchange, with ticker symbol TSCO and has a level 1 OTC American Depositary Receipt (ADR) programme in the United States with ticker TSCDY. Market capitalisation at close of business on 13/9/2005, was i?? 25. 84 billion, based on a share price of 330. 00p.