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Essay / Tesco Marketing Strategy Essay - 706
Tesco has a net profit (before tax) of around £3 billion. The main objective of Tesco is to “serve the customer”. It is important to satisfy existing customers because they are more likely to return. It is more profitable for the company than acquiring new ones. In the UK, Tesco now has over 2,200 stores, ranging from large Extra hypermarket style stores to smaller Tesco Express outlets. Tesco's original range of groceries and general merchandise has diversified to include banking, insurance services, electrical products as well as telephone equipment and airtime. This move towards “one-stop shopping” means customers can fulfill all their shopping needs from one place. Tesco has also expanded its customer base through its Tesco.com website which attracts a million regular users. As the company grows, so does its workforce. From one man to one stall, Tesco now has around 280,000 employees in the UK and more than 460,000 worldwide. To serve its expanding markets, it requires flexible, well-trained staff capable of recognizing customer needs.