Action Plan for Tesco

Business Strategy Action Plan for Tesco Planning assumptions With respect to Tesco it could be stated that the Tesco has good financial stability and other aspect is that they have their operations in the developed economy. The country still untouched the south Asian market which is one of the lucrative areas for retail sector. The Tesco needs to enter into the developing economy as well. China, India etc. these are highly growing economies where the company can commence their business future. It is one of the major factors which are required to be prioritized (D'Esopo and Almquist, 2007). The Tesco already operated into the countries which are highly economically stabilized and have potential to grow in near future. Thus the economic factors are in favor of Tesco. Forecasts and sales It is another factor which is highly effective on the ground of strengthening the internal activities and maintaining the relationship with suppliers. It is clear that the sales forecasting is completely dependent upon the game of demand and supply in the market. The demand and supply both are interrelated concepts and Tesco has managed well in already existing international market. Sales forecasting is one of the most significant planning technique which is highly relevant to the operational activities. The Tesco has good sales ratio there profitability and revenue generation capacity is also quiet appreciable. The past sales trend could take under surveillance to understand the future forecasting of sales (Donnelly andHarrison, 2009). The Tesco can procure the raw material accordingly and most importantly the resources could be managed. The inventory management of Tesco could be managed in international network along with the development of huge suppliers’ network. Marketing implementation and control Action plan The action plan with respect to marketing mix strategies implementation includes understanding the market or economy in which the company is entering. Gaining the proper knowledge about oversees marketing condition can help in taking the appropriate decision. The products should be compatible to the needs and demand of customers (Hamilton and Webster, 2012). The product should not be highly expensive or of low quality, the economic condition of host country is required to be taken into special consideration. The pricing could also easily determine through assessing the right kind of product. At starting phase the help of offer and discount strategies could be taken just to create interest among local people. It can also lead towards the effective pricing strategy. The action plan also includes the place or distribution strategy. The location of outlets and store could be accessible and within the reach of segmented market. With a view of strengthening the brand awareness and educati ng the customers there is huge requirement of focusing upon promotional mix. The online media and television could be the main source to disseminate the information about the availability of Tesco (Chikweche and Fletcher, 2012). Thus in this way the entire plan could be implemented. Budgets The allocation of budget is extremely responsible job which must be done in painstaking manner. If the budget allocation activity has been done in an appropriate manner then it affects the entire process or task at great level. The Tesco has huge cash reserves so it is clear that they can handle the activities or implementation phase in effective manner. The revenue and profits for the Tesco is continuously increasing which improve their capacity to invest into the international market (Schaefer, 2011). The Tesco could implement 50 % of their total profits or revenue in implementing the above plan. Monitoring and control mechanisms The stage of monitoring is very significant with a view of identifying the loop holes and errors into the existing plan. The success of monitoring and controlling mechanism could be ensured only if this activity has undertaken by Tesco management on the regular basis. For the purpose of monitoring the marketing plan there is huge requirement of recording the various aspects which are required to be prioritized. It is clear that Tesco can record the expected positive outcomes and have to compare them with the actual results. It can make Tesco familiar with the current performance and appropriateness of their strategies for international marketing. Ahead the recording should be done for the challenges and risks that have been identified during the particular course of time. After identifying the risks the Tesco can take the required actions and can definitely control the implementation of whole plan. Other than recording or comparing the events, the Tesco can show their reliability upo n the benchmarking technique (Vieceli And Valos, 2000). It could also show its huge expediency in monitoring the activities and progress in an appropriate way. In benchmarking technique the company can set the particular target or some achievement to be achieved in particular period of time. Thus it can also treat as significant technique to strengthen the monitoring and controlling mechanisms in effective way. References: D'Esopo, M. and Almquist, E., 2007. An approach to mastering the marketing mix. Business Strategy Series. 8 (2). pp.122 – 131. Donnelly, R. andHarrison, G., 2009. The Marketing Planning Process. Routledge. Vieceli, J. And Valos, M., 2000. Marketing Management. Atlantic Publishers & Distri. Schaefer, A., 2011. Introduction to Marketing in Business. The Open University. Hamilton, L and Webster, P., 2012. The International Business Environment. Oxford University Press. Chikweche, T. and Fletcher, R., 2012. Revisiting the marketing mix at the bottom of pyramid (BOP): from theoretical considerations to practical realities. Journal of Consumer Marketing, 29(7). pp.507 – 520.

Godrej Interio Furniture E-business Strategy Case Study

Godrej Interio Furniture E-business Strategy - Case Study Example The company Godrej Interio Furniture has been operating as a sole proprietorship for the past five years. The company established a need to go online for operation and make the business a click and mortar operation. The market that was currently being targeted by the company pertained to a niche target which wants customized and designer furniture made with class and high quality materials. The product is a luxury good provided to a niche of the market. In the past the company has been reporting significant loss but as other business and retail stores in the region are adopting the e-business strategy the company also wants to integrate communicative technology in its operations and start a click and mortar operation.However with the advancement of technology that is taking place and the incremental amount of business going online, the establishment is also interested in starting online operations as well. The company is interested in going online and making the business click and mo rtar business. With access to the internet the company will be exposed to larger target market. They would be able to sell their products to the target market outside the political and state boundaries of the local region. This will significantly impact the operations of the business which will expand and can then go global in the long run. However in order to be able to start a business or a retail option online the company will have to brand itself and its products to stand out form the competition.  ... The operation is for the company called Godrej Interio Furniture. The company Godrej Interio Furniture is currently a brick and mortar business which sells unique and trendy furniture and home decoration items. The niche targeted by the company is the upper and the middle upper class market for segment of the target market. The product that is provided by the company is generally customized in nature and only designer pieces are sold in the shop. The shop is an exclusive option for the high street and high end shoppers. This assignment will review the impact of the Web, knowledge management and information technology on promoting business online. Also, the assignment will cover basic elements of the new technological environment and the techniques of knowledge management, the way global marketing is conducted. 2. Introduction of the organization Company History The company Godrej Interio Furniture has been operating as a sole proprietorship for the past five years. The company established a need to go online for operation and make the business a click and mortar operation. The market that was currently being targeted by the company pertained to a niche target which wants customized and designer furniture made with class and high quality materials. The product is a luxury good provided to a niche of the market. In the past the company has been reporting significant loss but as other business and retail stores in the region are adopting the e-business strategy the company also wants to integrate communicative technology in its operations and start a click and mortar operation. However with the advancement of technology that is taking place and the incremental amount of business going online, the

Social Media and Loneliness Essay Example | Topics and Well Written Essays - 1500 words

Social Media and Loneliness - Essay Example The irony of situation is that social media has isolated man from man. At one level it has brought strangers across the globe close together and at the same time the social media have dissociated people from their immediate environment. Young Internet users become so engrossed in their virtual social interactions that they are totally unaware of the people sitting around them. This behavior results in isolation and loneliness of the youth. The connection with social media disconnects them from their real life friends, family and other acquaintances. Many researchers, psychologists and educationist have showed concerned towards the heavy use of internet by teens and in this connection, they have, tried to find out the impact of this excessive use on the social life and education of adolescents. Subrahmanyam and SÃŒÅ'mahel cite a study conducted in Pittsburg which collected the data about teen internet users of 93 families and through questionnaires and interviews found out that â€Å" more heavy users of the internet showed a decline in social involvement ( communication within the family and size of people’s social networks) and increases in loneliness and depression† (131). Jordon while looking into educational implications of excessive use of social media by adolescents has also tried to connect it with loneliness and depression of the youth. He has suggested control of such activity by parents and teachers for the proper â€Å" health and development† of young persons (qtd. in Mcwhirter et al. 125). In March this year, the  NSPCC  published a detailed breakdown of calls made to ChildLine in the last five years. Though overall the number of calls from children and teenagers had risen by just 10%, calls about loneliness had nearly tripled, from 1,853 five years ago to 5,525 in 2009. Among boys, the number of calls about loneliness