Discuss about the analysis and discussion, it can be inferred that Tesco is one of the largest retailers operating in the international domain with high potentiality of growth?
The contemporary business scenario is witnessing a significant rise in the level of market competition due to the factors concerning gaining momentum of globalisation and introduction of new and innovative technologies. It is strongly believed that increase in the level of business market competition has certainly resulted into the development and the application of numerous marketing strategies that are directed towards enhancing the growth and the profitability level of the organisations as well as overcoming the challenges underlying competition. A major contribution to the overall growth and development of an organisation is propelled by the customers, who are treated as the ‘king’. In order to enhance the level of competitiveness and differentiate the products and/or services that offer by a company from its competitors, an increased level of emphasis must be laid on augmenting customer satisfaction (Gilligan, 2012). In this regard, it is worth mentioning that an increased level of emphasis placed on gaining the satisfaction level of the customers will certainly enable the companies to ensure their market sustainability in the long run. Moreover, it can be inferred that greater extent of customer satisfaction may facilitate the companies to raise business reputation and ensure that the customers remain loyal to the maximum possible extent. Correspondingly, in order to retain the existing customers, utmost attention must be paid on meeting their own requirements, which can be duly measured in the form of offering them with quality products and/or services (Hassan & Parves, 2013).
It can be apparently noted that for attracting and retaining customers, organisations of this modern day context, nowadays, use a variety of strategies such as relationship marketing, transactional marketing, scarcity marketing, viral marketing, mass marketing and word of mouth marketing among others. Concerning its increased popularity and benefits, relationship marketing can be considered as one of the core marketing strategies, which is being applied by the organisations for ensuring that they are able to prosper in present time as well as in recent future. Relationship marketing is deemed to be the process directed towards creation, maintenance as well as enhancement of value-driven relationships with the various stakeholders associated with a company (Bidgoli, 2010). Noticeably, relationship marketing is considered as a vital aspect of marketing, as it focuses on enhancing customer retention along with increasing the level of satisfaction, rather than concentrating on augmenting product sales. Moreover, emphasis needs to be placed on the fact that relationship marketing enables in establishing long-term association with the customers (Gillies, Rigby & Reichheld, 2002).
With respect to the above stated context, this essay tends to develop an understanding of the concept underlying relationship marketing as a strategy used by a company towards attracting and retaining customers. In this regard, the example of Tesco PLC has been taken into concern, wherein, the use of relationship marketing strategy by the company will be analysed. Furthermore, the essay will highlight the existing and/or the potential relationships persisting within Tesco. The essay will also further demonstrate an understanding of the opportunities as well as the threats faced by Tesco while executing relationship marketing as a strategy during the conduct of operations. Correspondingly, due emphasis will be placed towards the demonstration of an understanding regarding the assessment of the role and the significance of customer relationship management within Tesco in different marketing situations. Finally, prior to prescribing the recommendations and arriving at a valid conclusion, the essay will detail the application of relationship marketing principles with respect to Tesco.
Tesco is a famous and one of the largest retail companies engaged in trade of general merchandise products. The company has an employee base of more than 480,000 and is presently operating in 11 nations across the European and the Asian business markets. Specifically mentioning, more than 80 million customers visit the company’s store as a part of their shopping trips on a weekly basis (1Tesco 2016). Considering the financial status, Tesco had a group sale of £69.7bn as on 2014-15. The trading profits for the company amounted to £1.4bn for the same fiscal year (2Tesco 2016). Tesco is dedicated towards ensuring high level of customer satisfaction, which is mostly propelled by its underlying values and purposes. The prime purpose of Tesco is to ensure that its customers are able to develop their respective living standards to the maximum possible extent. Moreover, it must be mentioned that Tesco, in its attempt to ensure optimum customer satisfaction, has largely incorporated the relationship marketing strategy, which can be apparently noted from the company’s core practices. In this regard, one of the core practices, which followed by the company, can be reckoned as understanding the people associated with the company including the communities, customers and the employees. The company further aims at ensuring that it is able to accomplish the objectives that are targeted towards meeting the needs of the people by collaborating with them, understanding their requirements and acting in an innovative way towards sufficing their needs. Community development is further being paid considerable level of attention by Tesco, wherein, the company considers working with the team as an integrated way by establishing greater respect and trust, listening and supporting the views of others along with sharing experiences and knowledge towards enhancing future prospects. Tesco further stresses on the need to create value generation by the ways of exploring number of opportunities and reducing the wastage of food on a global scale (3Tesco 2016).
Tesco is identified to pay utmost attention on the need of developing potential relationships with its customers, which can be attributed with the relationship marketing strategy. Evidently, Tesco has increasingly concentrated on making better use of customer relationship management (CRM) approach towards ensuring that it is able to develop sustainable association with its potential customers. Value creation is considered as a fundamental objective of the company based on which it is able to ensure customer loyalty in the longer run. In order to accomplish predetermined organisational objectives, the company tends to promote its sales and likewise boost profitability level by focusing on direct selling and email marketing. In the year 1995, Tesco launched the Club Card scheme, which was directed towards ensuring that the customers are benefitted through the services in a unique manner. This facility is considered as proving effective for the company, since it is able to make sure that the existing customers are able to receive information regarding the beneficial deals and any offer on the respective products and/or services.
In relation to the above stated context, Tesco’s engagement with its stakeholders is further evident across the various roles played by the company in enhancing its relationship with the internal as well as the external stakeholders. In this regard, it must be noted that from the part of augmenting the existing relationship persisting within the company and the communities, Tesco is engaged in providing support and encouragement to the local societies in addressing the problems such as food poverty. To be specific, Tesco has laid immense focus on mitigating food poverty by being associated with certain Trusts such as The Trussell Trust and FareShare for organising neighbourhood food collection activities. As a part of conducting national charity programs, Tesco has partnered with Diabetes UK towards ensuring a substantial reduction in the number of people facing diabetes and support healthy living (4Tesco 2016). Tesco has further tied up with Community Champions who act as representatives of Tesco towards makings sure that the company is able to offer required advantages to the local communities. Commendably, the Community Champions provided the required support at the local store level in the form of getting involved in varied activities such as fundraising, donations, bag packing and the UK store collections as well (5Tesco 2016).
As a premier retail trade company based in the UK, Tesco has ensured its long-term association with British Red Cross. This can be justified with reference to the fact that the partnership has enabled the company to conduct several community based activities successfully that entail corporate donations, colleague fundraising and most importantly in-store bucket collections among others. The partnership further enabled Tesco to participate in supporting the emergency needs of the people in the UK during adverse situations, recent examples being the Tunisian attack in 2015 and Ebola Outbreak Appeal during 2014. British Red Cross Disaster Relief Alliance is yet another vital partner whose support enabled the company to conduct recovery works and perform response activities on a larger scale (6Tesco 2016).
Notably, another prominent step undertaken by Tesco towards fostering its existing and potential relationship with the customers is its newly launched innovative scheme of store surplus. The scheme incorporates allocation of the surplus food products available in the store to the charities and people who are in the urgent need for food. The scheme is promoted by the FareShare FoodCloud app, which tends to notify people regarding availability of food surplus in stores (7Tesco 2016). Towards fostering its internal relationships, Tesco further prioritised development of relationships with its employees, who are considered as the most vital pillars of the company. Thus, Tesco made deliberate efforts in ensuring that its employees are provided with required support and able to notice the changes undergoing within the organisation in the initial stages. Making the employees feel proud and letting them to serve the customers in a better way are certain other core fundamentals prioritised by Tesco. Emphasis is further laid on making sure that the employees are provided with the required training programmes that facilitate wider development of their skills and competencies towards serving customers effectively (8Tesco 2016).
On a further note, Tesco further placed attention on establishing, developing and preserving relationships with the suppliers as a part of trading responsibility. In this regard, due consideration is placed over value creation for fostering partnerships with the suppliers and likewise ensuring that they are able to gain mutual expertise based on an open and transparent relationship. Furthermore, an increased level of emphasis is placed towards negotiating with the suppliers on behalf of the customers, thereby ensuring deliverance of a volume-led recovery approach (9Tesco 2016). Commendably, Tesco further directed its activities towards creation of several opportunities such as employment generation and transition facility from the education sector towards gaining employment by collaborating with several establishments. In this context, a few of the establishments include Young People’s Panels and Tesco Youth Academy that are directed towards providing employment along with designing quality training and development programmes for the youths (10Tesco 2016). Improvements in the health of people and lessening wastage on food products can be duly considered yet other important factors that reveal the foundation of a stronger relationship amid the company and its respective stakeholders (11Tesco 2016).
Being a premier retail company having its headquarter positioned in the UK, Tesco adopted and implemented various effective strategies in order to attain its desired organisational targets that eventually supported the company to explore various opportunities and face certain challenges as well. In this regard, one of the core opportunities underlying Tesco is its expansion in the international markets, enabling the company to explore further opportunities. Justifiably, Tesco’s expansion in the new markets is widely evident in its success in the nations such as India, where it has been able to open its stores based on having joint venture with Tata. Moreover, Tesco further gained success while operating in other nations as well like Hungary, Ireland, Malaysia and China (Clark, Peck & Payne, 1999). Notably, an increased level of emphasis needs to be placed on the opportunity for Tesco underlying market expansion. Apart from the food products sector, a few of the markets wherein Tesco aims to expand itself can be attributed with digital entertainment sector. For instance, Tesco has made considerable level of investments in the entertainment company, Blinkbox. Apart from this, Tesco further made strategic moves towards offering phones and tablets in its own name, especially in foreign markets such as China and Malaysia. Online shopping sector provides yet another significant advantage to Tesco, which made the company to rethink about the customers facing mobility issues and the prospect to its business operations (Wadekar, 2007).
In certain nations, Tesco holds the capability of exploring the private label markets and thus possess the opportunity of getting further engaged into strategic alliances with the partners, ensuring that it is able to meet the dissimilar needs and the requirements of its potential customers (Ruther, 2003). Contrary to the opportunities available for Tesco, the company is open to face a number of challenges that might have a negative influence on its future operations. A significant growth in grocery retail sector of the UK has resulted into increased level of competition. Specifically mentioning, in its home market, Tesco is facing continuous challenge from its competitors such as Sainsbury, Aldi and Morrison’s amongst others. Moreover, acquisitions made by the competitors such as in the case of Asda by Wal-Mart has raised important concerns for Tesco, considering the fact that Wal-Mart is regarded as the biggest global competitor of Tesco in the international market. Furthermore, Wal-Mart can further face challenges associated with recession, labour threats, increased level of government regulations, pressure from stakeholders along with an increase in inflation and higher global food prices (Evans, O’Malley & Patterson, 2004).
Correspondingly, Tesco’s image as a brand known for engaging customer relationship can decline with a rise in the number of competitors applying similar strategies of the company such as discounts during festive seasons and lessening prices. Challenges associated with declining levels of employee morale attributed with cost-cutting and elimination of pension schemes have further imposed negative influence on the overall performance of the company by a considerable extent (Butler, 2015).
From the above discussion, it has been clear that Tesco made deliberate efforts in forming, developing and maintaining favourable association with its customers, despite the challenges and the opportunities being faced by the company different market situations. Justifiably, Tesco took its first step in introducing CRM during the early 1990’s when it entered into a relationship with dunnhumby towards launching loyalty cards, specifically known as the Tesco Clubcard (Dowling, 2003). This enabled Tesco to boost its CRM approach by way of ensuring that customers are able to reap significant benefits from the savings while making purchases. By the year 2012, Tesco launched such services across various nations where it operated its business. As a part of its CRM initiative, Tesco further launched ‘The First Class Service’ during the period 1993-1994. Additionally, in order to ensure that the customers are provided with the best possible services, Tesco inaugurated the ‘One on Front’ service, which enabled reducing the time required for check-out times. Use of club card facility further assisted the company to generate information about customer services, product promotion, market research and pricing as well as merchandising among others. During the period 2011-2002, Tesco adopted the concepts such as ‘Learn Thinking’ and ‘Customer Championship’ that enabled the company to establish strong relation with its customers. Specifically mentioning, the grocery retail sector was classified as a monopoly market in the UK during the 1990’s. Tesco was able to dominate in the UK market by prioritising launch of several initiatives such as ‘My Time’ campaign, which helped in providing relevant information to the people concerning spa, offers, price reductions and designer wear (Gamble, Stone & Woodcock, 2006).
Reflecting upon its core aims and objectives, Tesco practiced its knowledge and skills concerning development of relationship with the customers based on the thoughts and the feelings with regards to grocery shopping. Balancing the business with the customers can be duly considered as another vital aspect, which is typically based on the factors such as culture persisting in the company and knowledge regarding customers’ tastes as well as preferences. As a part of CRM initiative, Tesco came up with the idea of introducing new store layouts such as Tesco Express, Metro and Extra. This CRM initiative of Tesco further considered as one of the most influential approaches, which has been framed based on the company’s core values and principles (Blythe, 2012).
With the changing scenario and a shift in the market situation from monopoly to perfect competition, Tesco emphasised re-launching the club card service towards ensuring that it is able to compete with the other market players. It is worth mentioning in this regard that the company prioritised introducing CRM programmes with respect to the integration of relationship marketing based on customer orientation and philosophy. Notably, recognition as well as selection of target customers was considered as yet another strategy directed towards ensuring the application of CRM initiatives undertaken by the company. During the period 2011-2012, Tesco’s market share saw a considerable level of reduction as a result of intensified business market competition (Gummesson, 2011).
In order to promote its services and enhance the level of customer satisfaction, Tesco adopted several strategic steps ranging from an increase in the number of employees to redesigning of the stores. Engagement with the customers was further fostered based on the developments underlying brand image and customer satisfaction that were provided utmost level of consideration. In an attempt to regain its market share, Tesco made substantial investments in ‘click and collect’ services along with rebranding of ‘Everyday Value’ aspect that further directed towards promoting brand communication and advertisement (Dahlén, Lange & Smith, 2010). In the perfect competitive market characterised by several firms competing for attaining desired targets, it is evident that there has been a significant rise in the demand of the people with products serving variety of needs at competitive rates. In this concern, the re-launch of loyalty programs play a vital role towards ensuring that the customers are able to maintain adequate level of sales standards (Christopher, Payne & Ballantyne, 2013).
Developments underlying discount in-store services along with a decline in the popularity of club cards certainly made Tesco’s activities focussed on introducing new schemes such as engaging with customers by way of advertisements through magazines that encompass information regarding latest products as well as services. Furthermore, Tesco has ensured that it is able to integrate CRM approach within the company in a reframed manner by way of ensuring that the customers are able to get in touch with the company and purchase the products as well as services, thereby facilitating effective relationship marketing. Moreover, an increased level of emphasis needs to be placed on development of an understanding regarding the Business-to-Business (B2B) and Business-to-Business (B2C) initiatives taken by Tesco (Varey, 2003). In order to maximise its relationship with the customers; Tesco has facilitated direct sales of its products via e-commerce website. Moreover, as part of its B2C market situation, Tesco has been propelling its CRM initiatives by the way of offering customers with access to a varied range of products and/or services via online modes that are further supported by various payment gateways. This can be further associated with the electronic relationships that enabled strengthening the relationship amid the company and the customers. Correspondingly, B2B is supported by channelizing the activities that perform by the suppliers, enhancing supply chain relationship with redefining the procedures of physical distribution and logistics amid the crucial ones (Shajahan, 2006).
Tesco, in the international business markets, is continuously growing in the form of expanding its business by adopting various strategies that are directed towards building superior relationship with the respective stakeholders. Consideration of the approach of strengthening the relationship with such stakeholders certainly led Tesco to generate greater level of value, thereby widening the opportunity towards developing overall profitability as well as productivity levels. Besides, it has been argued that in order to maintain and attain competitive position in the international domain, the company must strengthen its business relationship with the stakeholders (Gummesson, 2012; Godson, 2009). Tesco, while working in the international domain, pays utmost attention on an important fact of integrating the principles of relationship marketing in the working environment, facilitating the organisation to build a strong presence in the market. Payne and Ballantyne proposed the approach of Six Markets Model, which considers six different domains of markets (Freeman et al., 2010). Theoretically, each market domains in relation to the above stated model gets subdivided in such a way that it covers all the relevant stakeholder groups. Such market domains usually include ‘supplier and alliance markets’, ‘customer markets’, ‘internal markets’, ‘influence markets’ referral markets and ‘recruitment markets’ (Percy et al., 2010).
Correspondingly, in the context of international business, Tesco with the approach of relationship marketing, has been able to the make its marketing presence by the ways of organising effective direct marketing campaigns and framing effective strategies that focus on developing customer retention and stakeholder satisfaction perspectives. It is strongly believed that Tesco, considering the approach of relationship marketing in its business operations, is able to direct its focus on valuing customers over enhancing the sale revenue as per the expectation level (Hassan & Parves, 2013). As per the theoretical approach, the concept of relationship marketing is deemed to be quite dissimilar from the traditional form of marketing. The approach leads the organisations towards building and enhancing stakeholders’ value, thereby resulting into forming better and favourable communication. It has been often argued that in the current business environment with advancement in technologies and their roles in the business practices, the concept of relationship marketing is evolving as an integral approach to form effective communication with the stakeholders and likewise promote collaboration. The approach of Tesco’s relationship marketing includes the prospect of efforts to develop inbound marketing, enhancing Public Relationship (PR), social media communication and strengthen the online platform. Besides, the working of Tesco in the international markets with the approach of relationship marketing is evident to get highly developed with the reengineering of varied operational functions (Bollen & Emes, 2008). In this regard, Tesco developed a cross-sectional team, which enables in smooth functioning of the organisational operations in a common direction and functionality. According to Little & Marandi (2003), to develop relationship marketing approach, cross-functional team is required to be building with increased focus on collaboration factor.
The principle approach of Tesco to develop relationship with its potential customers in the global environment is identified to ensure making frequent communication regarding its offerings by using the approach of direct mailing. With this concern, it can be affirmed that Tesco identified the approach of relationship marketing as a key strategy to retain its competitiveness in the international marketplaces. Justifiably, frequent communication with the customers will certainly allow the organisation to strengthen its loyalty and thus meet their individual needs and demands (Oly Ndubisi, 2007). By taking into concern the approach of relationship marketing, which Tesco uses while performing different operational functions, it has been quite clear that the company remains much conscious on understanding the customers’ needs and tries to adopt such strategies that help to suffice such needs. This is mainly being performed by offering information about the new offerings, deals as well as discounting offers to the customers through e-mails. Notably, one of the key approaches of relationship marketing, which Tesco introduced during the year 1995, was the loyalty card. This particular approach or principle evidently enabled the company business to strengthen its customer base to over 9.5 million (Gilbert, 2003).
In accordance with the Six Markets Model, Tesco, in order to strengthen its competitive position in the market, place the customers as its centre point of focus and likewise develop effective strategies to optimise its relationship with the customers. The referral market of Tesco includes the potential customers who are highly satisfied with the offerings of the company and influenced their buying behaviours in a positive way by recommending to others (Mollah, 2014). Influenced markets of Tesco include competitors, regulatory bodies, government, consumer groups and regulatory bodies among others. The principle approach of the business to strengthen such relationship can be better understood from following the rules and the norms relating to business operations and environmental concerns. In addition, the recruitment markets of the business are deemed to be selection of potential employees with utmost consideration of external as well as internal approaches. The potential employees are recruited externally by using company’s official website and internally through the promotion and rotation of job roles of the employees (Dibb, 2012).
Similarly, Customer Loyalty Ladder of Tesco is also identified to be a key approach of strengthening the relationship with the customers. Tesco, with varied Integrated Marketing Communications method, has been successful in developing the approach of relationship marketing. One of the key approaches of loyalty programmes of Tesco is Tesco Clubcard, which consistently helped in adding value to the customers and likewise strengthening the prospect of relationship with the end users. This card gets scanned with every transaction and likewise information about the customers is being recorded in the database. The stored information of the customers is further being used to develop strong connection with the customers, influencing their buying at large (Rüther, 2003). The Loyalty Ladder of Tesco has been depicted in the graphical form below for better understanding of the above stated context.
Source: (Rüther, 2003)
‘Supplier and alliance markets’ of Tesco includes such suppliers that play the role of forming partnership with the organisation to supplement and fulfil customers’ demands. The relationship is developed with the involvement of the supplier groups in the decision-making procedure and promoting their views that help in providing quality products and/or services to the customers and raising the market share of the business. Lastly, the internal market of Tesco denotes strengthening human resource (HR) department of the organisation. Specially mentioning, the business highly focuses on developing effective strategies that empower mutual relationship amid the employees and the higher authorities, as an integral aspect of success (Black, 2014). Apparently, considerable importance of the business is given over the approach of cross culture aspects in the working environment, aiding the company to remain continuously engaged in delivering beneficial as well as quality products and/or services to its ultimate customers. Additionally, in the context of international business, Tesco observed to remain highly concerned with its conduct of operations in an ethical manner with maintaining diversity in the workforce (Winterman, 2013).
To overcome the difficulties and raising the competitiveness of the business in the international environment, the organisations need to become highly sensitive over the aspects of cultural differences and strengthening the relationship with the stakeholders. Apart from this, higher level of trust among the working groups as well as the communities is also equally important in order to foster the relationship with the stakeholders. With this concern, incorporating higher level of attention and minimising the conflicts in the internal environment could further assist in communicating effectively with different stakeholders attached with Tesco (Hougaard & Bjerre, 2013). With regards to the approach of relationship marketing, it is highly been important that two-way communication is thus formed, developed and maintained by the help of accessing feedback mechanisms in the official website, developing e-newsletters, conducting customer surveys and/or refurbishing message boards. Besides, factors including respect and proper communication with the workforce, communication pattern, values of group and community, respectfulness of culture and high importance over the personal factors of the customers, employees and other stakeholders of the business must be duly considered in the context of developing business relationship (Hennig-Thurau & Hansen, 2013).
For the organisations like, Tesco with respect to international business, it is important that they should endure the aspect of cultural differences and likewise gain immense success. Based on the perceptions of Sorce (2002), in order to build superior marketing relationship, enhancing the level of customer satisfaction is deemed to be highly important. Thus, in this regard, Tesco must pay utmost attention on delivering superior quality of products and/or services to retain its existence in the respective industry. Building favourable relationship with the existing customers will certainly help to create repeat purchases and likely improve responsiveness of other customers as well. Correspondingly, by developing a strong-shared knowledge in the organisational culture, mutual understanding, and negotiation with different stakeholders will also prove to be quite beneficial in developing strong marketing relationship (Grönroos, 2009).
Spencer-Oatey (2013) reflected that motivating the internal workforce is identified to be the key approach with respect to managing the cross-cultural aspects and developing relationship and cooperation within Tesco. In this regard, it can be recommended that understanding the prevailing cultural differences in the context of international environment may foster the approach of relationship marketing by a certain level. Hanley & Leahy (2009) further suggested that retail businesses like Tesco could enhance the above stated factor by ensuring high customers’ loyalty as well as inducement of club marketing programmes in the departmental stores(Hanley & Leahy, 2009).
Based on the above analysis and discussion, it can be inferred that Tesco is one of the largest retailers operating in the international domain with high potentiality of growth. However, performing operations in the international arena as per the desired level is deemed to be one of the challenging tasks for the retail giants. Throughout the discussion, it can also be ascertained that the factor of relationship marketing has immense importance especially in performing international business efficiently, as different stakeholders of the businesses impose considerable impact on organisational success or failure. In the current scenario, with the continuous advancement in the technologies, the organisations considerably induce the approach of exceeding the level of expectations of the customers in order to develop long-term relationship with them. In this similar concern, Tesco is also noted to induce the approach of relationship marketing in order to retain its customers and increase the level of customer satisfaction.
Besides, Tesco strongly believe that inducing the approach of relationship marketing will help its business to explore new opportunities and form better personal relationship with the stakeholders, sufficing the requirements of the customers at large. Amongst several initiatives, Club Marketing Programmes is identified to be one of the key strategies, which helps in attracting new customer group. Nevertheless, the organisation, in order to develop effective relationship marketing approach, it can focus upon refurbishing the approach of cross-cultural management by considering the aspect of cultural differences.
An assessment of the aforementioned discussion provides an understanding about the importance of the potential relationships existing within Tesco. It is worth mentioning that the above discussion further provided a comprehensive understanding about the opportunities and the threats facing Tesco and the way they influenced the internal as well as the external stakeholders. Correspondingly, due consideration was placed towards elaborating on the CRM approaches undertaken by Tesco towards ensuring that it is able to establish, compete and win the grocery retail markets in the UK, serving customers effectively. To be specific, the study further elaborated on the use of CRM strategies by Tesco in different marketing situations, along with highlighting the B2B and B2C initiatives taken by the company towards enhancing the level of customer satisfaction.
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