Tesco | Case Study | Management | Strategies & Practices
3 هزار بار بازدید -
3 سال پیش
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Tesco Plc (Tesco) is a
Tesco Plc (Tesco) is a multinational retailer of general merchandise. The company carries out business through multi-format stores and online. It operates stores in various formats differentiated by size and range of products sold, including large, small, dotcom only and one-stop. Tesco offers a wide array of food and non-food products, including fresh food, drinks, bakery, grocery, home and entertainment products, baby products, toys and games, garden, clothing, household appliances, frozen food, pets, health and beauty products and consumer electronics and electrical goods. It also provides retail banking and insurance services through Tesco Bank in the UK. The company has business presence across Europe and the UK. Tesco is headquartered in Welwyn Garden City, Hertfordshire, the UK.
Tesco is the largest British retailer and is also the world’s third largest grocery retailer with outlets across Europe, USA and Asia. The business began in 1919 with one man, Jack Cohen, selling groceries from a stall in the East End of London; his first day’s profit was £1 and sales £4. Jack bought surplus stocks of tea from a company called T.E. Stockwell. T.E. Stockwell and Cohen combined their names to brand the tea Cohen originally sold – TESCO tea. In 1929, the first Tesco store opened in north London.
Tesco has expanded since then by a combination of acquisition of new stores, retail services and by adapting to the needs of consumers. Tesco’s primary aim is ‘to serve the customer’. Keeping existing customers happy is important, as they are more likely to return. This is more cost effective for the business than acquiring new ones.
In the UK Tesco now has over 2,200 stores ranging from the large Extra hypermarket style stores to small Tesco Express high street outlets. Tesco’s original product range of grocery and general merchandise has diversified to include banking, insurance services, electrical goods as well as telephone equipment and airtime. This move towards ‘one stop shopping’ means customers can meet all their purchasing needs from one place. Tesco has also expanded its customer base through its Tesco.com website which attracts one million regular users.
Tesco announced record-breaking sales of more than £1bn a week and better than expected annual profits of more than £3.4bn for the 53 weeks to 28 February 2010, despite the impact of the global downturn.
Narrated by Tanvi
Edited by Ankit
#casestudy #management #strategies #managementstrategies #practices #managementpractices
Tesco is the largest British retailer and is also the world’s third largest grocery retailer with outlets across Europe, USA and Asia. The business began in 1919 with one man, Jack Cohen, selling groceries from a stall in the East End of London; his first day’s profit was £1 and sales £4. Jack bought surplus stocks of tea from a company called T.E. Stockwell. T.E. Stockwell and Cohen combined their names to brand the tea Cohen originally sold – TESCO tea. In 1929, the first Tesco store opened in north London.
Tesco has expanded since then by a combination of acquisition of new stores, retail services and by adapting to the needs of consumers. Tesco’s primary aim is ‘to serve the customer’. Keeping existing customers happy is important, as they are more likely to return. This is more cost effective for the business than acquiring new ones.
In the UK Tesco now has over 2,200 stores ranging from the large Extra hypermarket style stores to small Tesco Express high street outlets. Tesco’s original product range of grocery and general merchandise has diversified to include banking, insurance services, electrical goods as well as telephone equipment and airtime. This move towards ‘one stop shopping’ means customers can meet all their purchasing needs from one place. Tesco has also expanded its customer base through its Tesco.com website which attracts one million regular users.
Tesco announced record-breaking sales of more than £1bn a week and better than expected annual profits of more than £3.4bn for the 53 weeks to 28 February 2010, despite the impact of the global downturn.
Narrated by Tanvi
Edited by Ankit
#casestudy #management #strategies #managementstrategies #practices #managementpractices
3 سال پیش
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