The management of Tesco should set off product development strategies once they have taken control of their shop in China by marketing their existing products, exporting products in different provinces of the country and in so doing pressing forward on the possible opportunities of boosting the company’s market penetration and market share. Tesco should consider restoring or revising models of their products to provide the Chinese customers what they want and what they need. In this way, Tesco could develop the store’s own brand products which could be marketed strategically within the territory of China.
When marketing the product, the nature of the products plays a huge role. Therefore TESCO would be required to figure out who the end consumers of the products are, in what kind of product their customers are looking for, whether the needs of the customer has changed and what their own product range consist of i.e. what they are offering at present and which products are about to be released. TESCO would also need to find out and maintain the selling area, which would enable them to identify older products and how to renew the interest of customers in these products, or where the sales rate is decreasing how to prevent this.
Tesco’s marketing department is responsible for the price being charged for the products. The also decide whether the price should be reduced to draw more customers or how to alter the cost of short shelf lived products, and if they are capable of charging different customers differently. The marketing department also settles on whether
TESCO will be giving discount, what product or services are being provided and how much they are benefiting from it.
Numerous areas are considered before TESCO actually promotes their products, including how to inform their customers about their products and their specialized staff available. They also need to find out what way of advertising they are using and...