Report: Tesco and Barrett Homes
In this report I will be looking at the companies; Tesco and Barratt Homes in comparison to it each I will include information such as their market growth, size and share, it will also include what sort of organisations the two businesses operate in e.g. local, national, electronic or physical market. This report will also consist of the history of the two companies and the factors that affect demand and how both the companies go about avoiding all the negative factors. Lastly this report will highlight how both companies segment their market because this is a very important part of marketing. Background information on Tesco and Barratt Homes
Tesco was found in 1919 by Jack Cohen, it started as a market stall in east London selling tea bags, and it then opened its first store in north London selling dry goods. In 1983 Tesco became a public limited company. Tesco plc is now one of the largest retailers in the world, operating more than 2,300 supermarkets, convenience stores and employing 326,000 people. Tesco's core business is in Britain, where the company ranks as the largest private sector employer in the United Kingdom, operating nearly 1,900 stores. Tesco operates in a national market because it has stores all over the world including; Czech Republic, Hungary, Poland, the Republic of Ireland, Slovakia, Turkey, Asia, Japan, Malaysia, South Korea, Taiwan, and Thailand. Later on in 2000 Tesco plc started to operate as an electronic company through Tesco.com, the company is the largest online supermarket in the world, which offers financial services, controlling 4.6 million customer accounts roughly divided between credit cards and car insurance policies. Tesco is also the largest seller of gasoline in the United Kingdom. www.Tesco.com
Barratt Homes plc engages in house building and commercial development activities in the United Kingdom. It is primarily involved in acquiring and developing land; planning, designing, and constructing residential property developments; and selling homes. The company builds family homes, high-rise flats, and social housings under the Barratt Homes and the David Wilson Homes brands in Great Britain, as well as under the Ward Homes name in Kent and the South East for the first-time buyers, families, investors, and registered social landlords. It also engages in the commercial development activities, such as retail, leisure, office, industrial, and mixed-use schemes under the Wilson Bowden Developments brand. Barratt Homes was founded in 1958 as Greensitt Bros but later controlled by Sir Lawrie Barratt. Sir Lawrie Barratt built Britain's very first Barratt home on the outskirts of Newcastle-upon-Tyne. The four-bedroom detached house cost £1,750 and led to the formation of the first Barratt Homes Company. In 1968 the company was listed on the London stock exchange, and it then became a public limited company in the 1990’s so from then onwards was known as Barrett Homes plc. Barrett Homes plc operates in a national market and an electronic market.
Understanding the nature and types of markets
Did you know that there was more than one type of market? Well there is and it’s important that you know the difference. The different types of market include the following -Local market
The two companies this report focuses on are Tesco and Barratt Homes which are both operate in electronic market. However is there a difference between a physical and electronic market? Well the answer to that question is yes there is, it’s important to know the difference between a physical and electronic market. Well physical markets are commodity markets where raw materials/products are exchanged. These raw...