Tesco has set out its own aims and objectives that they wish to achieve. These aims are to ‘retain loyal people’ and ‘create value for customers and earn their lifetime loyalty’.
Firstly there is retaining loyal people. These people are not described as customers but just people. This means that this mission statement is not solely aimed towards their customers. This is aimed at staff as they need loyal staff to create a working environment that thrives. No one wants to shop in a supermarket where the staff are unhappy, so keeping their staff happy adds to their customers and therefore their growth. They also wish to retain their shareholders, these are the people that keep Tesco going from the top end. Keeping these people happy is primarily by keeping money going into their pockets. This too is done by retaining loyal customers and opening new stores, which are also beneficial to customers. All of these combined are great to keep their custom base but also great ways to keep their profits rising. More profits always mean more growth and therefore a more successful company.
Their other objective that is to create value for customers and earn their lifetime loyalty. This is done by splitting this objective into the 4 P’s.
These are Product - having the right product range for the customers. This differs from store to store and area to area.
Price - keeping their prices competitive.
Place - accessible locations for customers.
Public - thinking of their public. Their corporate and social responsibility is spoken about by their PR team frequently and they do give to charity and the local community out of their profits.
Tesco can see buying patterns from their Clubcard information and this gives them the insight into what people want and what is in demand which helps achieve these customer led goals.
Firstly there is retaining loyal people. These people are not described as customers but just people. This means that this mission statement is not solely aimed towards their customers. This is aimed at staff as they need loyal staff to create a working environment that thrives. No one wants to shop in a supermarket where the staff are unhappy, so keeping their staff happy adds to their customers and therefore their growth. They also wish to retain their shareholders, these are the people that keep Tesco going from the top end. Keeping these people happy is primarily by keeping money going into their pockets. This too is done by retaining loyal customers and opening new stores, which are also beneficial to customers. All of these combined are great to keep their custom base but also great ways to keep their profits rising. More profits always mean more growth and therefore a more successful company.
Their other objective that is to create value for customers and earn their lifetime loyalty. This is done by splitting this objective into the 4 P’s.
These are Product - having the right product range for the customers. This differs from store to store and area to area.
Price - keeping their prices competitive.
Place - accessible locations for customers.
Public - thinking of their public. Their corporate and social responsibility is spoken about by their PR team frequently and they do give to charity and the local community out of their profits.
Tesco can see buying patterns from their Clubcard information and this gives them the insight into what people want and what is in demand which helps achieve these customer led goals.
