Consumer Behavior Situational Influences Situational influences on consumer behavior outlet selection Shopping is an activity that everyone in the world participates in, but what exactly is it? Is a store necessary for shopping to take place?
All organizations need to expand themselves locally and globally. For this, they adopt and frame different strategies to succeed themselves. Thus, external environment is scanned thoroughly and analyzed. Later the strategies are adopted and implemented.
Brief Overview of Tesco Tesco has expanded its business across the world. It is headquartered in Hertfordhire, UK. Tesco globally has stores in 14 countries.
The other services provided by Tesco are; banking, online shopping and insurance. Corporate Strategy Tesco ranks among the giant retailers having large number of stores. Their principle business strategy is to create value of shareholder though innovation and focus on satisfaction of customers.
Following is the PEST analysis: Political Factors Before starting operations in any country, its political environment should be scanned thoroughly.
Many countries encourage foreign direct investments and supports retailers to start its operations in that country.
Starting operations in another country would help to get its people Pest analysis of nike more locally based, flexible and from average earning jobs to high paid earnings job.
Tesco has high workers turnover and they are offered high level of trustworthiness Retail Business Review, Technological factor Tesco pays high attention towards technological changes that are constant in any industry as it influences expansion and growth of Tesco Wilson and Gilligan, The main purpose behind remaining technologically advance is that both company and customers are satisfied and benefitted.
The high level of satisfaction could be achieved when goods are readily available to its customers in the stores.
Tesco is technologically efficient but usage of technology such as electronic scanners; electronic Point of Sale EPS and Electronic Funds Transfer Systems EFTS will also help to improve the distribution services and other inventory related activities.
Economical factors Economic factors have more influence on business operations of Tesco Veliyath and Fitzgerald, The increasing rate of unemployment due to recession is uncontrollable factor and could not be controlled by Tesco.
However, it could be expected that any slowdown in UK market will negatively affect the operations of Tesco which shows that the organization have greater risks of market concentration. Environmental Factors Performing in ethical way is one of the major responsibilities of any organization.
Therefore, Tesco aims to be a socially responsible company as it pays high attention to the practice of corporate social responsibility.
The company aims to satisfy all its stakeholders through performing utmost obligations which are in accordance to the corporate governance De Toni and Tonchia, Social-Cultural factors Consideration of social and cultural factors are important fir any organization.
The customers of UK usually do shopping in bulk which is highly by the social changes occurring in the last decades. This has influenced the shopping behavior so Tesco has expanded its stock of non-food items. Besides social and cultural factors, demographic factors such as increase of women employees, increasing trend of frozen foods, aging population etc force retailers to consider these changing factors and update the organization accordingly Drejer, Thus, Tesco comply to these changes and also give emphasis is given to operational improvements and supply chain management to increase the overall organizational performance.
Review of Its Existing Business Plans As the company operates in a globalized environment therefore it has expanded its stores outlets in many countries.
Tesco brand image is coupled with superior quality and reliability. Weaknesses The company is principally UK dependent. Therefore, in case of any pitfall, the company will suffer.
The company is not much geographically diversified which could result in systematic risk Business Plans The latest business plans of Tesco are as follows: Tesco will take over Giraffe which is a restaurant chain. Moreover, it has also decided to invest as shareholders in Euphorium bakeries and Harris and Hoole coffee shops Butler, Tesco will revive all its large stores only because the company has faced drop in profits for twenty years.
Strategic Plan of Tesco With respect to the international expansion plan, assumption is made that Tesco will start its operations in Switzerland, Europe.
Current position of Tesco is very strong as it can be judged from its large profits and constant investments in setting up new stores at both levels, i. Thus, the organization has high potential to penetrate in Swiss Market. Tesco will target customers belonging to all age groups and will try best to meet their needs and expectations.
Moreover, Tesco will ensure to create strong supply chain network in Switzerland so that the company can operate successfully. Tesco will try its best to be an active member of running Corporate Social responsible campaigns as the society and community serving is important to attract Swiss people.Term Paper Warehouse has free essays, term papers, and book reports for students on almost every research topic.
SWOT Analysis SWOT analysis is a tool for auditing an organization and its environment. It is the first stage of planning and helps marketers to focus on key issues. May 21, · Pest Analysis On Nike - December 2nd, The company is headquartered near Beaverton, Oregon, which is part of the Portland metropolitan area.
It is the world's leading supplier of athletic shoes and apparel and a major manufacturer of sports equipment with revenue in excess of US$ billion in its fiscal year (ending May 31, ).
Free marketing plan papers, essays, and research papers. Nike, fully known as “Nike, Inc.”, is a US-based transnational corporation which provides trendy, functional sportswear across the globe. Having been founded in , Nike serves to “bring inspiration and innovation to every athlete in the world.” .
(Pestle Analysis Of Nike Macro Environmental Factors Business Essay, ) Economic Factors Nike bears the responsibility of being a major world manufacturer of sports footwear and apparel and generated revenue of US$ billion in