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What is the purpose of tesco
Background of tesco
What is the purpose of tesco
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Task 1: History of a Business
Tesco History
Tesco was founded in 1919 by Jack Cohen. The Tesco’s in 1919 sold surplus groceries from a stall in the East End of London. The brand Tesco, was first introduced in 1924 when the founder, Jack Cohen, purchased tea from T.E. Stockwell. Jack Cohen then made new labels, using the first three letters of the supplier’s name, TES, and the first two letters of his surname, CO, thus making TESCO. The first store was opened in Middlesex, in 1929, and not only until 18 years later in 1947 did Tesco find its way onto the Stock Exchange as Tesco Stores (Holdings) Limited. That same year, came the opening of the first Tesco self-service store, which is now home to Metro, and the first supermarket came 9 years later in 1956. Jack Cohen had resigned in 1973, leaving in charge his son-in-law, Leslie Porter, and MD Ian MacLaurin. Within two months of this appointment, Tesco had made a 4% market share rise. Tesco then pushed further boundries in 1987, buying out Hillards, who owned a chain of 40 supermarkets in North England, for £220 million. 7 years later they outbid another supermarket giant, Sainsbury’s, to purchase Scottish supermarket William Low, which operated 57 stores. Tesco have now built upon their popularity in the UK, with now moving abroad into paces such as Poland, USA, Thailand, Japan and so on. {draw:frame} Business Activities Tesco is much more than just a supermarket. Although their main purpose is to supply goods to their customers, such as dairy products, frozen foods, confectionery, drinks, etc, they also supply other services to their customers, as a way of trying to increase revenue and customer satisfaction. Activities which Tesco engages in are: Mobile phones – Tesco offer stylish mobile phones at cheap prices, which can be used on Pay As You Go and Contract basis. They also offer fast broadband access, along with deals involving both mobile phone and broadband packages. Gas and Electricity – Offers savings of up to £516 on energy deals, with offers for customers to receive updates via email. Insurance (Car, House, etc) – Offers insurance on all aspects of life, including; car, house, motorbike, travel, pet, life, health and dental. Can also offer quotes for those looking around different websites for cheap insurance.
Online Stores Tesco wants go into other markets because they would be bringing in more customers, which are going to increase profit. They also have another aim which is to expand internationally because they already operate within the Europe. They have to set themselves new aims and objectives that are harder to achieve as it’s the expanding further.
Tesco PLC's Expansion in North Bracknell Introduction: Tesco PLC is an international supermarket not only selling high quality goods but has now also become one of the biggest job markets. As well as this Tesco has been running sub-projects to increase the level of customer care. [IMAGE] Tesco's main aims are shown by the steering wheel provided by their website (www.tesco.com). Tesco want to have good quality for value to earn their customers loyalty while still making a profit. I will be investigating the Tesco Superstore, petrol station, pharmacy and coffee shop in North Bracknell (Warfield).
Tesco is a UK based Supermarket Company which was founded in 1919 by Jack Cohen, since then it has grown to become a multinational company which specialises in a lot more than just groceries, this has improved the overall profit of the company. The overall employees recorded at the end of 2015 was 476,000+, this shows that is a source of employment for nearly half a million people in the UK. The supermarkets are no longer just in the UK they also have shops based in Malaysia, India and Poland, this presents that they are increasing the size of business to a multinational company and is also a good source of jobs for people in poorer countries. In the world over 75million people travels
Tesco also has various and wide range of products and that is to meet customers’ needs of whatever customers intend to buy, nearly whatever customer intends to buy would find it underneath one ceiling (at Tesco). On the top of selling groceries Tesco sells others products such as, books, CDs, DVDs to buy, DVDs to rent, games, flowers, electronics, cosmetics, etc.
Tesco is a public limited business and therefore is in the tertiary sector as it provides a service to the public, this means that the business is owned by many shareholders. Tesco sell their shares on the stock exchange and are number one out of its competitors in terms of number of shareholders. Having a high amount of shareholders means that the business needs to make and retain profit levels high so that they trust and gain loyalty to the
Tesco is trying to gain as high profits as they can because company investors or shareholders might thing about investing more money in to the business because of its success and development. Tesco wants to make its investors satisfied because it may affect business future.
5) In the early days he made it very easy and simple for people to buy
Wal-mart is currently the world’s largest company. It has seen continuous growth and financial success since it was founded in 1962. Today it is living off of a previous reputation of solid ethical business practices that are no longer being exercised. Sam Walton, the founder of Wal-mart, was considered to be “freakishly cheap… Cost-cutting was an obsession in the Wal-mart culture… on business trips, everyone, including the boss, flew coach, and hotel rooms were always shared.” (reclaimdemocracy.org. 2006). This was only part of the reason for Sam Walton’s success.
Wm Morrison Supermarkets Plc was founded by William Morrison in 1899 in United Kingdom and also the fourth largest food retailer with more than 400 convenience stores from Bradford market stall. Their business is mainly on fresh food, fresh fruits and grocery with their unique technology procurement and quality. Nine million customers would pass through the stores to shop for their foods and grocery and 132,000 employees of Morrison would deliver great services to them such as ordered online they wants and delivered to their residential. Morrison helped consumers to save money every day by having some competitive prices and hundreds of special offers.
Tesco is the largest retailer in UK. It is a public limited company which sells multinational grocery, health and beauty product, household items and toys etc. Since Jack Cohen founded Tesco in London’s East End at 1919 and now it has sprouted branches in 12 countries with over 7,800 stores include franchises. Tesco hire over 530,000 employees and they serve over tens of millions customers per week. Tesco
Tesco has been particularly successful because of its powerful brand. It has a reputation for value, low prices and for being customer focused. Its brand and associations have helped the company to expand into new sectors and markets. Tesco has also been strong in public relations, advertising and building profile in catchment areas on a local level. This local approach to marketing appears to be a key driver for success. Tesco has a good range of products, including own label products. It seeks to provide excellent customer service, and ensure high levels of customer satisfaction.
In 1945, Sam Walton opened his first variety store and in 1962, he opened his first Wal-Mart Discount City in Rogers, Arkansas. Now, Wal-Mart is expected to exceed “$200 billion a year in sales by 2002 (with current figures of) more than 100 million shoppers a week…(and as of 1999) it became the first (private-sector) company in the world to have more than one million employees.” Why? One reason is that Wal-Mart has continued “to lead the way in adopting cutting-edge technology to track how people shop, and to buy and deliver goods more efficiently and cheaply than any other rival.” Many examples exist throughout Wal-Mart’s history including its use of networks, satellite communication, UPC/barcode adoption and more. Much of the technology that was utilized helped Sam Walton more efficiently track what he originally noted on yellow legal pads. From the very beginning, he wanted to know what the customers purchased, what inventory was selling and what stock was not selling. Wal-Mart now “tracks on an almost instantaneous basis the ordering, shipment, and delivery of literally every item it sells, and that it requires its suppliers to hook into the system, enabling it to track most goods every step of the way from the time they’re made and packaged in the factories to when they’re carried out store doors by shoppers.” “Wal-Mart operates the world’s most powerful corporate computing system, with a capacity (as of late 1999) of more than 100 terabytes of data (A terabyte is 1,000 gigabytes, or roughly the equivalent of 250 million pages of text.).
Costco is the largest discount wholesaler which can compete with the Sam’s Club of Wal-Mart. Target can be the biggest threat in terms of competing with Wal-Mart in all levels. The low price strategy followed by the Target is the same strategy which is Wal-Mart using. Target is gaining recently more market share by adding more grocery options in stores and expended its stores internationally. Tesco is a British retailing company that is known to have gained large international and domestic market share. Tesco is the third largest retailing firm behind Wal-Mart and Carre-Four. Like other retail companies, Tesco wants to have clients that will patronize their product. The company uses a loyalty program to gain the loyalty of its clients. Compared to Wal-Mart, Tesco has started to concentrate on the housing market but it has not been that successful as of
This is a positive thing for Tesco has a larger demand for their products allow them to grow and expand due to greater profits.
McDonalds has always been a leader in the fast food industry. Through its dynamic market expansion, new products and special promotional strategies, it has succeeded in making a name for itself in the minds of the target customers. However, McDonald’s earnings has declined in the late 1990’s and 2000s. This is mainly due to a fiercely competitive industry and variety in customer tastes and preferences.