Thursday, October 17, 2019

BUSINESS STRATEGY Coursework Example | Topics and Well Written Essays - 500 words

BUSINESS STRATEGY - Coursework Example Currently, it has market shares in UK stock exchange with the name Tesco. This report provides an insight into the Tesco Company through the use of BCG matrix to know the current strategies of the company. The United Kingdom is currently a global business centre consisting of different races from all over the world. Due to the increased population, Tesco fulfils their demands by importing goods that are not available in the UK from other European countries. As a multinational company, Tesco has developed many supplier management mechanics so as to survey key suppliers and the satisfaction of the franchisee. After a close internal analysis of the Tesco Company, it is observed that, goods importation is one of the Tesco’s imperative strengths as they are motivated by the allegory, â€Å"Pile it high and sell it cheap.† Tesco has a very good and established customer relation that never lets its brand down. The spectacular development of this Company is based on its ability to offer its customers various incentives through promotions. The efficiency of its products has greatly been developed by the product and development department, thus creating the desired customer relationship and satisfaction. Notably, much of the company’s success has been based on its customer loyalty. Therefore, Tesco has a strategy to develop its business by setting its focus to improving its relationship with the consumers by proving them with credit card loans, insurance policies and saving schemes. Brand Image Strategy is one of the systematic plans of action that has vehemently propelled the development of Tesco Company. The company achieves this by using their own name in selling their quality products at relatively cheaper prices. Its reputation is not only growing because of the cheaper products, but also because of its own products (Lamb, Hair,& McDaniel 2008, p.34). Tesco targets lower income earners by

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