Chosen business: Tesco
Task 1 (P1)
There are different types of information that Tesco use these are: - Verbal information: This is spoken information it could come from the customer, it could also come from Tesco if they let any promotions over the tannoy. - Written information: This is information that is written in a document, Tesco uses this type of information in its leaflets, receipts and collects this information from customers through comment cards etc. - Onscreen information: Tesco will use this type of information in their TV adverts so that they can get a lot of promotions across to their potential customers, they can also use this to show customers how good they are compared to their competitors and that their products are cheaper. - Multi-media: This type of information is a lot of different sources mixed in, it includes pictures, presentations, videos and can include on screen information, Tesco does not normally use this type of information because they tend to use types of information that they can easily communicate with their customers such as verbal or written in the form of a leaflet or poster. - Web based: This type of information is given out or collected through the internet, Tesco have a website that they use to communicate information on the business to their customers. Customers can also give information through this by buying products online and giving reviews on Tesco. Tesco use these types of information for many different purposes, these are: - Updating knowledge: They use information to update their knowledge on things like what products are selling the most and which ones have high demand, they can then make sure that they supply all of these products for the customers, they can find this out by questionnaires etc. and also written sales figures and this will update their knowledge on what products are their best sellers so they can promote these. -Informing future developments: They use information to inform their future developments because if they can get lots of information from their customers then they can use this to make plans for their future developments in order to make their organisation better, they can use customer feedback via written information. -Strategic direction: They use different types of information in order to decide which strategic direction they are going to take, they can use sales figures and department feedback to see what is making Tesco do so well. If they come across a problem, like they do not have enough sales then they can use this information to change their strategic direction. -SWOT analysis: They use both internal and external forms of information in order to see what their strengths, weaknesses, opportunities and threats are. Tesco will use sales, customer, department, competitor and growth information in order to conduct a swot analysis they will then find that their strengths are having specialist marketing expertise because they are such a huge organisation they know what they are doing. They also have weaknesses such as a large amount of competitors that could overtake them such as Asda and Morrison’s. An opportunity could be the development of technology such as self-scan machines that they can use to promote their business. A threat could be how Asda is currently top of the market and this means that they need to come up with more ideas to get above Asda. -Offering competitive insight: They will use information such as market share and published sales figures from other their competitors to see how good other competitors like Asda are doing they can they use these to see what they can do better. They will also use the on-screen information such as the TV adverts to get a competitive insight because they will see what offers their competitors are doing and try to match or outdo these. -Communicating sales promotions: They use both written, on screen and verbal information in order to communicate their sales promotions,...