Marketing Strategy Assignment Example | Topics and Well Written Essays - 3000 words

Marketing Strategy - Assignment Example Taking cue from international brand, Tesco, along with its various marketing and global expansion strategies over the years, the report will evaluate the various marketing strategies, which are essential for success of a retail firm while entering into a new or foreign market. The report will also throw light on concepts such as, localisation. A situational analysis of the Turkish retail environment will be conducted, which will help in understanding Tesco’s current operations and future in Turkish market. The development of retail sector is based on democratization of the consumption of consumer, which is a result of the development of low price model of economies. This model is founded on value offerings oriented towards low pricing ranges. For effective implementation, this model relies on controlled distribution costs and increasing the circulation speed. Marketing is a critical factor in this category of business and expectations of customers are the major focus, in order to locate the lowest possible prices. However, marketing tends to merge with communication and advertisement in order to bring out the best results out of veracious models and theories adopted by the business. With the increasing success of the retail sector, companies have now started to realize the need for change in their strategies and tactics, majorly by understanding and adapting the evolution in customers’ behaviour as well as expectations (Holt, Quelch and Taylor, 2004). Securing a consumers’ loyalty and increasing their wallet share have taken an important place in the strategies of these retail companies; rather than just acquiring new customers. A sharpening competition among retail brands has prompted these retail firms in paying more attention to their marketing activities. The integrated marketing communication, adopted by many big retail brands, such as, Tesco and Walmart, has given