Sunday, February 16, 2020
Marketing Strategies For Growth Overseas At Tesco - Essay Example Having described the premise of marketing strategies, this report will focus on Tesco, a multinational foods retailer operating in China, the United States, India, Thailand, Malaysia and South Korea. In some regions of the world, consumers are collectivist and value tradition whilst in other operating areas, consumers are more individualistic and brand-conscious. Price elasticity is a concern depending on the socio-economic conditions in each area of operations, thus requiring customized marketing strategies for each region. The results of a recent survey identified that 67 percent of customers considered Tesco their favourite supermarket due to its value and quality focus in the marketing mix and related to how the business positions itself among international competitors (Ma, Ding and Hong 2010). Tesco operates in an oligopoly market structure where competitive activities related to marketing continue to change the focus of business activity. The foods retailing environment maintai ns considerable competitive rivalry in pricing and promotion, as well as distribution methodology in order to serve diverse customers. Because of this, Tesco must focus on the marketing mix in order to differentiate from competitors that carry rather homogenous goods for the international consumer. Tesco utilizes marketing strategies related to green environmentalism, value promotions, brand extensions, diversifying product line offerings, and e-commerce as methods to improve its competitive position and ensure higher sales volumes internationally. 2. Theoretical framework International marketing strategies are plans of action that recognize costs, efficiency, and brand value/equity associated with specific strategic objectives related to how the business wants to... This paper stresses that since the environment where Tesco operates internationally is saturated with grocer competition, the business has developed effective strategies to try to avoid price promotions common with other supermarkets. Its value agenda provides the business with considerable brand loyalty and also brand equity that can be extended to supplementary service provision. It is uniquely positioned through its e-commerce model as a value leader and through its flexibility in procurement to fit local tastes even though these costs are higher for adjusting the supply chain methodology in the home country. However, the revenue gains achieved by Tesco, which is the number one supermarket according to comparative sales, offset these costs associated with the marketing mix adjustments. Tesco may not be able to maintain its unique value-orientation against competition with the new entrants like Aldi that carry discounted goods that consumers perceive as top quality. Partnerships wi th local producers to create private label Tesco products still fulfils its corporate social responsibility objectives in its marketing strategy for relationship and value-building, but can enhance its product selection for private label introduction or extension. When it is not only pricing, but also value associated in consumer markets with private label brands, it has long-term risk potential for TescoÃ¢â¬â¢s unique differentiation and positioning related to value provision. This report makes a conclusion that corporate social responsibility, too, stays away from pricing promotion and price emphasis in order to remain true to its value-conscious agenda and positioning efforts. According to results of a large sample group questionnaire, 71 percent of those targeted believed that Tesco has reasonable prices.
Monday, February 3, 2020
Foundations of Criminal Law - Assignment Example Fraud losses impact deeply or adversely almost every aspect in business. The fraud management is mainly encountered through the Deterrence, Prevention, Detection, Mitigation, Analysis, Policy, investigation and Prosecution3. Although definitions of legal insanity differs according to states, generally a person is considered insane and not responsible for a criminal conduct if, at the time of the offense, as a result of a severe mental disease or defect, he is not able to appreciate the nature and quality of his criminal act4. SET 1 Case 1 The article is about a case against a person named Lord Hanningfield who had been held guilty for using the funds of Essex County Council mainly for his own personal interests by citing false claims. It is a case of theft by false accounting. Theft is defined as a punishable offence where a person may wish to dishonestly obtain property belonging to other5. There are five elements of theft which are appropriation, property, belonging to other, with the intention of depriving the other permanently and dishonesty6. Theft by false accounting arises when a person dishonestly destroys or falsifies an account or any record required for an accounting purpose. Also if the information furnished by the person, who may be required by any accounting purpose, is untrue by the knowledge of the person, it is also known to be theft arising out of false accounting7. False accounting is used to obtain more funds from the banks or related institutions8. In the article Lord Hanningfield was found guilty of using the funds of Essex County Council by submitting receipts and claims which were found to be false. It was found that he had provided false details about his travel expenditures to draw money out of the council. He had submitted a receipt of ?500 for traveling which was found to be false. He also used the facility of a chauffeur driven car provided by Essex County Council to his home when the distance was only of 46 miles. The normal allowa nce level is ?174 for a single night without a receipt. Lord Hanningfield had repeatedly violated this provision. He had booked for airfares to India and hotels outside London which were booked by others. Also, it was found that Lord Hanningfield was in full knowledge about the false claims when it was being committed. This is a case of fraud caused by theft in accounting as it satisfies the five elements for causing a theft a well as accounting inappropriately that is caused intentionally. However, Lord Hanningfield claim that he had used the money which he is entitled to does not provide a clear picture of theft. The above mentioned law does not explain this clause as whether the defendant had utilized his rights or it was a fraudulent behavior. The article is insufficient to deduce if it was fraud by abuse of position. There are statutory conditions against fraud caused by theft of false accounting. On conviction, the accused can be sentenced to imprisonment for a term not exceed ing seven years 9. Case II In this case of fraud, the wife of a policeman was alleged of taking part in a ?10 million mortgage scam for the exchange of the high value goods. This is the case of fraud by false representation. A person is said to be in violation of this law if he person makes a false representation through dishonest means, for the intentions of reaping gains for him or