Definition of Marketing

Heidi Cohen the President of Riverside Marketing Strategies explained marketing as the following: “In line with the firm’s business goals, marketing attracts consumers’ scarce resources, attention and disposable income, to drive profitable revenues. Marketing is the process of getting a product or service from a company to its end customers from product development through to the final sale and post purchase support. To this end, marketing strategy consists of business goals, target customers, marketing strategies, marketing tactics and related metrics. As a function, marketing extends across the customer’s entire purchase process including research, engagement, purchase, post-purchase (including supplemental …show more content…

Tesco’s marketing concept in their marketing activities

Tesco’s main marketing concept is to earn customers loyalty. They have several tools how they are trying to achieve that for example:
1. TV and radio advertising at regular intervals
2. Advertisements in newspapers and magazines
3. Company benefits in creating thousands of new jobs
4. The introduction of an environmentally friendly of products
5. Billboard campaigns
6. Internet advertisement
7. Direct marketing to known customers (Club cards)

Those are the main activities. It also has to be mentioned that Tesco never issued their marketing strategy due to the competition. According to Lynch for Tesco the Marketing Penetration is very important, therefore, customer loyalty because they believe to retaining existing customers is always cheaper then reach new ones.

Costs and benefits, costumers satisfaction

It is notable that Tesco one of the top retailer company of the UK. The business expanded with the years and until today they can be found all over Europe, North America and Asia as well. Marketing orientation is a pivotal stage in the business success. Marketing orientation is try to identify the needs and wants of customers, if the organization wants to have a good marketing strategy they need to invest in it however make a great profit out of it. Such costs and benefits can be :

Benefits
-high customer satisfaction
-increase sales