Customer

In the context of global expansion and competition of numerous businesses, effective marketing management is one of the key factors of success, playing an essential role in obtaining competitive advantage. Hence, the success of a company is determined by its ability to identify customers’ needs and offering products and/or services to satisfy them.

To build a better Tesco continue the investment in a strong UK market. In last two years Tesco invested 1 billion euro in six area

All market evidence should be linked to the customer, as opposed to competitors or the own product. A customer oriented management can keep a growing company

In these two professors’ work, customers are still in the core of business. According to Vargo and Lush (2004), customers are defined as resources which always change and need to be catched and held. In order to do that, firms have to do marketing researches, understand customers’ demands and conduct promotion activities for their products.

An Analysis of Marketing As defined by Kotler and Armstrong (1994) marketing is “a social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others”. Marketing is an extensive topic. Primarily when we consider what is marketing we think about the advertising, publicity and selling of a product or service. In actual fact the prime concern of marketing is customers, and the establishment and growth of relationships between organisations and consumers. It consists of studying the wants and needs of the customers and how to make the perfect product which is priced, promoted and distributed in the right place to make it

In the business world, TESCO is a very popular organization. TESCO believes its most important asset is its people. Performance and contribution and teamwork of the employees lead to success. Therefore, their approach is to reward the employees

Tesco is one of the biggest British retailer and the world’s third largest retailer across Europe, USA and Asia. The main vision of Tesco is to be the most highly valued from the customer with accordance to the service it served, even by the communities where they serve their service. Similarly the loyal and committed staffs are the main key elements of the Tesco from which the customers can get full service. Thinking locally and acting globally usually resemble the business strategy of the Tesco. Tesco has made certain values which made them to be the market leader in retail industry. The fundamental principles of Tesco are to understand the customers, be first to meet their needs, acting responsibly for the communities, work as a team, trust and respect each other, share knowledge and experience (TESCO plc, 2011). The main aim of Tesco is to benefit their performance and competitiveness with the utilisation of the skills and scale of the group.

Tesco provides high quality services to the customers with the best and remarkable prices that come in the notice of many local public and make them to shop from Tesco. These strategies make the customers loyal to the company and in return the company thank them by providing the

To be successful in business, "a consumer does not buy a whole of physical components of the product but it is usefulness, function, satisfaction of consumer's needs, solving the problem, etc" (Dubrouski, , p.1). "That is why the product is a whole of tangible and intangible components which means satisfaction of consumer's needs and desires, solving the problem"(Dubrouski, p.1). Companies and managers must learn to utilize marketing research, as well as, strategy skills to fulfill customers' satisfaction. Management has to focus on exclusive marketing challenges presented by the new era of the 21st century. Management has to be able to utilize inventive, dominant, and cost effective marketing techniques that will support the future success of the organization. Companies must meet,"the increasing importance of services as part of a product (offer, offering package) which cannot be neglected" (Dubrouski, p.1). Exploring the purpose of market research, as well as, evaluating the importance of such research, facilitates managers in realizing the importance of marketing to an organization's success and to be globally competitive.

The article, “Marketing Myopia” written by Theodore Levitt, illustrates how businesses interact in their particular industry’s life cycles of growth, maturity and decline. One of the primary focal points of the article is that businesses must know their industry in regards to satisfying their specific customer’s needs. Identifying customer needs and meeting them, allows for continued growth of the company and industry. Recognizing the necessity to satisfy customer’s needs rather than merely selling products will establish an innovative company with continued growth and profits.

It is true that thecompany is a key player in its market and industry. It has a big market share andenjoys a competitive position. However, the researcher would like to propose thatthe word customer in the Mission – Vision statement of the company should befurther defined especially in its scope. It should clearly identify who are thesecustomers. It is further propose that the customers should be group or segmented in order to fully define how each segment of customers can beserved properly. Segmentation of the market will enable the company to be efficient in their operations that would lead into a higher sense of delight andsatisfaction among customers.The company should then state in its Mission – Vision the following: “Our purpose and first responsibility is to serve all the students, professionals and allothers who visit our stores. We shall be passionately committed in helping themto enrich their minds and improve skills to ensure their success.”

The increase in customer power has led to many challenges for marketers today. Marketers have to constantly be on the lookout for any changes in their customers’ needs and demands to keep up with the progressive developments of the economy. Some of the key factors that will be mentioned in this essay are that firstly, companies have to resolve issues and improve their marketing approaches towards a constantly changing, and ‘always-online’ customers. Secondly, as people become more health-conscious, marketing strategies have to be adapted to suit the needs of these customers. Last but not least, customers have the power to affect the company’s success, either positively or negatively depending on his or her experience with the company.

Marketing's role is to match the capabilities and resources within the organisation with market opportunities external to the organisation. Understanding customer needs is central to achieving this aim, but marketers must also be aware of factors that can cause customer need to evolve. A change in customer needs will impact upon the organisation's ability to serve its customers. This means that marketers have to be knowledgeable about what is happening in the external environment, or macro environment.

In today’s modern era, the world is moving faster than ever, every organization is running a race of gaining maximum market share, and so as the customers, for their organization’s long-term growth but only those companies who transform themselves according to the need and requirement of the customers are able to achieve success and profit they desire and that’s what exactly said by Theodore Levitt (Head of the Marketing area at the Harvard Business School) in his article “The Marketing Imagination”.

Customers – the special requirement of the customer can be the new product of the market