Friday, January 31, 2020
Retail Failure of Tesco Essay Example | Topics and Well Written Essays - 2500 words
Retail Failure of Tesco - Essay Example The present research has identified that the Tesco management employs the marketing concepts. Pricing is one marketing concept. Promotion is another viable concept. Product quality is a necessary product concept. The place is an important marketing concept. Further, Tesco management institutes the complicated management functions. Controlling is one of the functions. Organizing is another management function. Staffing is a third management function. Planning is the fourth management function. Directing is the last management function. Furthermore, the first United States branch was set up during 2007. The branches are strategically located in California. With the huge population in California, The United States Tesco branch investment was estimated at around Ã £250 million during the 2007 groundbreaking operations. The company is expected to fund additional Ã £250 million during the 2008 and future years. Additionally, the additional yearly investments are pegged to set up branches in other major cities in the United States. TescoÃ¢â¬â¢ Chief Operating Officer Terry Leahy mentioned that Ã¢â¬Å"the investment in the Tesco United States is another leg in the Tesco United KingdomÃ¢â¬â¢s expansion into internationally lucrative nations.Ã¢â¬ The Chief Operating Officer enthusiastically claims that the United States expansion is very bold and profitable venture. The officer is correct for the United States is one of the biggest economies in the world. With a nation of the huge number of prospective customers, the Tesco United States branch is expected to play a significant role in augmenting the revenues generated by the Tesco home office branches located in the United Kingdom. Additionally, the company planned to set up an estimated 1,000 Tesco United States branches starting in 2007, where the initial branch was established in California. During 2008, the company targeted the setting of an additional 200 Tesco United States branches during 2008 alone.