Introduction
- Tesco is a very popular retailing company based in England.
- Tesco is now looking forward to expand its business in wales.
- Initially Tesco wanted to marketwise it on online platform as that will be a more cheaper way for a newly placed location.
Scope of plan
- The major scope this plan occupy is to attract more and more people to get the publicity for the store.
- Since it has been running very successfully in the English markets, the plan is now to establish it into wales market as well.
- Though the country is totally new, a huge amount of fund cannot be implied so the marketing should be done more online.
Market entry method
- Since , Tesco has been a large market chain in England the company does not need any introduction. But wales is a different country and people still does not know about it.
- To introduce a proper marketing strategy needs to be build keeping al the factors with the strategy.
- Online marketing will definitely help Tesco grow overall since is the biggest platform right now.
Different types of marketing entry method for Tesco which are described as under:
- Direct Exporting – In this method, company can selling various forms of products and services in the chosen country where they enhance the growth level.
- Licensing – It is that method where an organisation transfer the rights to usage of different goods and facilities to the another company.
- Franchising – Tesco can use this method for the entry in the large market place where they can open the branch of the business and gain high amount of income and profitability.
- Joint ventures – It is a specific form of partnership which involves the development of the third independent managed firm. In this process, two company are agree to work together and achieve the desired goals and targets.
Selection of the country
- Wales being the nearest country to England, it will become very easy for the retail stores and customers as well to adapt.
- Since England and wales both are countries of united kingdom, the rules and regulations for starting a business will be same.
- Being benefited for one of the closest country, the management will surely have any idea of customers demand and supply.
Marketing research operations
- Marketing research depends on various factors like economic factors, social factors, environmental factors, technological factors, etc.
- Marketing research is used to find the customer demand and market supply and how the customer is fulfilling the needs.
- Market research is used to find the appropriate market for a new company to establish and adapt to those marketing and working environments.
Use of digital marketing framework
- Digital marketing will help the company analyzing the data which can later on be proven an essential source for the company.
- Digital marketing will also provide the number of customers visiting their website and what changes they can provide to perform it better.
- Digital marketing can also perform SWOT analysis for the company where it can also tell the competitions of the market.
- Digital marketing helps company in developing strategies and methods which attract more customers.
- It also assist in targeted the right audience and fulfill their required demand and needs in proper manner.
- Digital marketing helps organisation to develop and build the reputation in the whole market place.
- It aids in generating revenue and income, and higher the level of development.
Online marketing strategies
- To provide social media accounts as public channels so that the customer will know each and every update given.
- Advertisements banner posted on different social media pages to look attractive on online.
- A website is been made where all the information about the company is easily accessible.
- It is required for firm is to use of email marketing which helps in gaining and attracting large number of customers.
- Advertising the company products and services is the another strategy through which they can easily gain attention of desired customers.
- Social media is the major platform which assist firm in promoting their effective goods and services among customers.
Implementation of marketing strategies
- Tesco initially posted an update on social media that they are going online.
- Secondly after getting reviewed by several customers, they form one of their own websites.
- the photographs and the availability of the products are then posted online and this type of information is easily available on their page without any heftiness.
Proposal of a budget
| Research Activities | Estimated Cost |
| Selection of country, building a marketing strategy online | $300 |
| Building and generating a business online ( analyzation ) | $100 |
| Research business and studying different online marketing strategies | $200 |
| Data analysis and collection | $200 |
| Project recommendation and conclusion | $100 |
| Total Estimate Budget | $900 |
Ethical aspects of a plan
- The marketing strategy does not copy any of the content that is been used by any other company.
- The marketing strategy must provide a free space for working of employees, as they must not feel any kind of pressure.
- The marketing strategy should provide benefits to the company with originality as well as the content should not be made with respect to the competition.
Advantages of online marketing
- Online marketing reduces the labor charges as machines are required not man power.
- It reduces the time and provide accessible information in a very simpler process.
- Retailing are meant to be available for all, going online will definitely help the business expand in other areas as well.
- Different advantages of Online Marketing for the business that are described as under:
- Convenience and fast service
- Lower cost
- Ease of personalization
- Evaluate and track the results
- Helps in global market reach
Analyzing digital world through social media
- It helps in attaining the feedback of different people to update their product according to the customer’s demand.
- Social media can definitely spread the news of some new advertisements published by the company.
- It also helps in being in touch with the regular customers and if possible to provide them some attractive offers.
Recommendations
- Proper feedback must be taken from the regular customers and offers must be entertained to them.
- Digital marketing must be used properly to increase the internet traffic on their website.
- Proper content should be updated on day to day basis with prior notifications given to the customers.
Conclusion
- It is to be concluded that online marketing is used for expanding the business in its every possible way.
- The up listed facilities are the online marketing strategies the company should rely on for going online.
- Being online is a savior of money as well as savior of time and it helps in connect people better and faster.
References
Kingsnorth, S., 2019. Digital marketing strategy: an integrated approach to online marketing. Kogan Page Publishers.
Micu, A., Micu, A.E., Geru, M. and Lixandroiu, R.C., 2017. Analyzing user sentiment in social media: Implications for online marketing strategy. Psychology & Marketing, 34(12), pp.1094-1100.
Polo Peña, A.I., Frías Jamilena, D.M., Rodríguez Molina, M.Á. and Rey Pino, J.M., 2016. Online marketing strategy and market segmentation in the Spanish rural accommodation sector. Journal of Travel Research, 55(3), pp.362-379.
Chaffey, D., 2019. Digital marketing. Pearson UK.
Müller, A., 2018. Referral Marketing on Social Media Platforms—Guidelines on How Businesses Can Identify and Successfully Integrate Opinion Leaders in Their Online Marketing Strategy. In Omnichannel Branding(pp. 131-171). Springer Gabler, Wiesbaden.