Tesco plc is a global grocery and general merchandising retailer headquartered in Cheshunt, United Kingdom. It is the second-largest retailer in the world measured by profits. It has stores in 14 countries across Asia, Europe and North America and is the grocery market leader in the UK (where it has a market share of around 30%), Malaysia and Thailand.
Tesco’s mission statement is to create value for customers to earn their lifetime loyalty.
Its aims and objectives are
• To be a successful international retailer (marketing; market development)
• To grow the core UK business (increase market share in UK)
• To be as strong in non-food as in food. (marketing; product development, diversification)
• To develop retailing services - such as Tesco Personal Finance, Telecoms and Tesco.com(marketing; diversification)
• To put community at the heart of what we do.(corporate social responsibility, build up positive image for the company)
To achieve above goals, Tesco has undertaken the strategies as follow
* “To appeal to all segments of the market” ,One plank of this strategy has been Tesco's use of its own-brand products, including the up market "Finest", mid-range Tesco brand and low-price "Value" encompassing several product categories such as food, beverage, home, clothing, Tesco Mobile and financial services.
*To grow the core UK business, Tesco's stores are divided into six formats, differentiated by size and the range of products sold. (Tesco Extra; Tesco Superstores; Tesco Metro; Tesco Express; One stop; Tesco Homeplus)
In this way Tesco appeal to more customers and better meet their expectation through improved convenience. The formats are used because only 20% of its customers have access to a Tesco Extra, and the company is restricted in how many of its superstores it can convert into Extras and how quickly it can do so. Large units for non-food retailing are much more readily available.
*Tesco expansion strategies has been its... [continues]
Cite This Essay
(2011, 02). Mission Statement of Tesco. StudyMode.com. Retrieved 02, 2011, from http://www.studymode.com/essays/Mission-Statement-Of-Tesco-598569.html
"Mission Statement of Tesco" StudyMode.com. 02 2011. 2011. 02 2011 <http://www.studymode.com/essays/Mission-Statement-Of-Tesco-598569.html>.
- MLA 7
"Mission Statement of Tesco." StudyMode.com. StudyMode.com, 02 2011. Web. 02 2011. <http://www.studymode.com/essays/Mission-Statement-Of-Tesco-598569.html>.
"Mission Statement of Tesco." StudyMode.com. 02, 2011. Accessed 02, 2011. http://www.studymode.com/essays/Mission-Statement-Of-Tesco-598569.html.