Introduction Of Business Research Method Assignment sample
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Marketing Promotional Actions for Business Development
This research aims to reveal a detailed discussion of marketing promotional actions for Tesco's business development. Some research problems are also discussed in this study. There are some key readings of Tesco are also shown in this research. Also, two research methods are shown in this study. They are- Secondary Data Collection and Qualitative Data Analysis. Two instruments are also shown in this research. They are interviews and observations. These two instruments help obtain measure and analyse data from subjects around the research topic. This research concludes with a brief discussion about Tesco and its marketing strategy analysis with the help of two instruments.
Section 1: Comparing two research methodologies
1.1 Research problem
Tesco faces many development issues, and it tries to resolve these issues through the Marketing Promotion Act. Casonkajonthip (2020) said that Radical pressure has triggered interest rate wars and eroded the revenue and profit margins of some retailers. Tesco has turned its attention to other ways to gain a competitive advantage. The retailer is highly dependent on revenue from the UK and Europe and has not invested time or resources to create different markets in which it operates (Kianto, 2021). In addition, they may also try to serve too many markets, many of which may also be financially infeasible or inconsistent with strategic goals. The company has been affected by the introduction of supermarkets that offer extremely low prices and discounts. Tesco faces many problems related to brand positioning, and customers find it difficult to connect with the brand.
Why are customers not sure about the meaning of the Tesco brand and is it saving them money every day or Is the shopping experience cheaper, better quality, wider reach, and more enjoyable?
1.2 Selected key readings
Marketing promotional act is an important part of a business. Organizations like Tesco should not only consider the profit and loss of the company but also consider expanding their business. According to Verasophon (2020), the business must continue to grow to remain competitive for a long time. Only when the return on the company's efforts exceeds the amount it has spent can growth be achieved. Marketing promotions indicate that the company only offers attractive offers to its customers for a limited time. Tesco has set some goals and indicators for its efforts because a company cannot do promotional activities without setting goals. The most important purpose of this law is to distinguish companies from their competitors. Qing and Cheng (2019) said that if there is no competition, no business needs to operate. For companies similar to Tesco, promotional activities will lead customers to purchase Tesco products. According to Kianto (2021), Promotions not only help Tesco sell more popular items but also allow them to cross-sell items that customers don't care about. It also allows them to take advantage of available data and create more useful data from it. The biggest benefit of promotional activities today is that the company uses various online platforms for promotional activities. They have blogs, social media sites, and video hosting sites where they can spread the news about the behaviour. This makes them visible on the Internet, in the same way that they should be visible in the target market. By being visible on the Internet, they have created a very strong business image in the minds of customers.
One of the steps Tesco has taken is the launch of a new branded agricultural product line. The major rebranding of products such as beef, fish, pork and fruit has allowed the company to attract cost-conscious consumers who previously did not value Tesco products. Zhao (2021) stated that before the name change, the price of Tesco's product basket was about 15% higher. In any market, any truly great and time-tested company will spend billions of dollars in marketing. Many organizations that experience Tesco's market share have invested heavily in television, news, radio, and movies. However, Peeroo (2019) said that Tesco realized that this special way of advertising and marketing and marketing have to be changed. The business enterprise now spends at least 30% of its marketing income on digital marketing. This enables organizations to achieve surprisingly focused humans on technologies that ordinary advertising and marketing sincerely cannot provide. Tesco uses economies of scale and world-class procurement channels to maintain expenses low. Tesco continues to work with suppliers to decorate the furniture chain's store environment so that it is not subject to price restrictions. Rosnizam et al. (2020) said that Tesco reduced the cost of an ordinary store by more than 3% in 2016. Tesco offers low and strictly closed prices. After receiving customer feedback, Tesco will reduce the promotional rate to a lower price. Tesco's advertising methods heavily use media and media marketing as a reliable channel to deliver marketing conversations to current and dynamic consumers. Tesco's print and media advertisements contain valuable suggestions on cooking or home style. The company launched a reactive print advertisement around Great British Bake Off with the theme "baking or pretending." One page shows which items anyone can buy to make a TV show, and the other page shows the goods they can buy. (this part contains key findings of the paper, thus, it is descriptive)
1.3 Two appropriate research methods
The success of the marketing and promotional business strategies depends on the authenticity and the quality of the data, so the selection and use of the marketing research requires a great level of expertise. The two research methods that have been used by the researchers in developing their literature review are Secondary Data Collection Methodology and Qualitative Data Analysis.
Secondary Data are mostly collected by the other users and are already available to be analysed by the researchers. The secondary data collection methods involve the researchers in using the data to analyse the research question so that the shipping experience will be better in quality, as the secondary data are mostly collected from the different sources of journals and newspapers. The researchers also used Qualitative research methods in analysing the concepts of promoting the business development of Tesco. The approaches included in this action research help the researchers in observing the existing data collected from the primary sources.
Proper Application of Secondary data collection method and Qualitative data
The secondary data collection methods are applied by the management of Tesco in identifying or targeting the potential customers for the marketing promotions of the business development. It identifies the opportunity and thus enhances the performance of the company Tesco (Eastmure, Cummins, and Sparks, 2020). Secondary research methods have been more popular research methods among Tesco as it is more cost-effective.
In the present day, the websites provide a lot of information as it is easily accessible. The public libraries provide an important source of data for the primary analysis of the data. The data are also collected from the government agencies for secondary researchers. The US Census Bureau provides a relevant source of data for the Tesco organization.
Qualitative data are easier to analyse. Tesco has been using this observation for knowing the impact of Tesco on the performance of the employee, this helps in expanding the base of the customers to increase the market share of this company (Fatricia, 2017). This gives the data on the incurred cost and the profits made by the company in recent years. The statistical data in their qualitative research methodology shows how the data has impacted the overall research program. The accessibility of this data has been collected from a different academic source which has been analysed on this research topic.
Connection of Research Methods with Theories
It has been a major concern nowadays that retailing companies like Tesco sustain international strategies. The domination of Tesco had led to the opportunity to become the second-largest retailing company in the world (Kianto, 2021). The secondary data collection method and the qualitative data Helps in promoting the strategies that can be used as a force for selling or promoting the products to the stakeholders. The promotional strategy has been called for spending a lot of money on advertising and promoting the demands of the consumers. This strategy has proved to be successful for the company as the data collected from the qualitative data analysis and secondary data collection methods have been implemented correctly in thy Push and Pull strategy in aiming the intermediaries to make the good promotion and personal selling if the products to target the potential customers (Peeroo, Samy and Jones, 2019).
The secondary data collection methods and the qualitative data analysis include various forms of data that need to be explored to identify all the approaches in the research paper. The secondary data are more concentrated to the specific region as it is not collected by the researchers so he or they did not have any control over the container of the data (Qing and Cheng, 2019). In this system, the researchers do not know the exact integrity of the targeted population in promoting the business strategies of Tesco. In the case of qualitative data analysis, the sets of information are already present in the prior, so the researchers may not be able to focus more on the exploration of the procedure that should be implemented in the business strategy of Tesco. There is an opportunity in case of this situation that the researchers must learn to read between the data to know the insights of the research paper more vividly (Rosnizam et al., 2020).
The qualitative data research methodology that has been used gave the researchers more understanding of the social phenomenon of the business statistics used by Tesco. This phenomenon provides insights if exploring the detailed issues.
These two methods provide a better opportunity for the researchers to experience the research phenomenon, sometimes the researchers use different kinds of methodology from their standpoint but this reflects articulating the perception of the stakeholders regarding the prescribing of the promotional strategies of the company (Samdani, 2020).
Pros and cons of methods in the context of the proposed research Question/research problem; and demonstration of full awareness of constraints and limitations deriving from the investigation
Tesco has been focusing more on their competitive advantage in the market as the company is dependent on operational marketing. So it has been facing challenges in brand positioning in the competitive market as well as targeting potential customers (Shin, Kim, and Kim, 2020).
Secondary data collection methods have been selected as the research methodology and Qualitative research methodology. The first step of promoting marketing activities for the business is to define the target market based on the demographic analysis of the customers. Finally, it is important to know the value of the products in the competitive market. The data used are already collected by the primary researchers so it is very cost-effective and it is already present in a format so the researchers will already have the insights knowingly if the customer demographics so it will be easier for the researchers to do the analytical part instead of preparing the list (Smigielska and Stefanska, 2017). As the gaps in the analysis are identified, I think the additional input can be provided by the business management in improving the business analytics of Tesco. The researchers are also able to identify the dark spot in the process if competitors analyse and present a new pathway for the marketing strategy. It also provides the base for the management to know the competitors of Tesco and the preference of the customers about their products but sometimes the secondary data may seldom fit the framework of research methodology in addressing the problem statements, the class boundaries can be different for the particular data. In my opinion, the accuracy of the data, as well as the updated version of the data, is unknown to the researchers so it can be a disadvantage for the company to target success.
So secondary data collection method should be conducted in such a way that it captures the data of the customers as well as the competitors of the targeted market to know the interest if the product in providing a better experience of shipping in Tesco
Promotional marketing has been using the qualitative research methodology as it collects the data differently instead of providing surveys; in return it allows the researchers to investigate the accuracy of the data. This methodology has been chosen as the best to know the consumer's pattern of Tesco as it changes from time to time, this process not only provides a potential explanation of the demographic information that allows the business to become easier to understand(Son et al., 2018). Thus, I felt that the best marketing promotional strategy for Tesco is to get through the insights of the industry, as engagement and relationship are considered as the two most important factors for the retention of the customers. So the qualitative research methodology proves to give accurate data in the possible formation but sometimes the miscommunication of the data can lead to the reduction of the quality. As the method has some positive sides it also contains some negative sides as it does not statistically represent the form of data in a collection form, the only comparison can be done and also sometimes lead to the duplication of data (Coe, Lee, and Wood, 2017). The term fake news can be presented through this method as the researchers can be biased about their data in the subconscious mind, lastly, the conclusion derived may influence the overall research analysis (Zhao, 2021). According to me, a successful business company like Tesco has been tending to use qualitative research analysis to know the perception of consumers in their brand as it ultimately helps in brand positioning and the brands can be able to reposition their upscale in thy market. It helped Tesco in understanding the consumer buying behaviour and how they look upon the market it helped the company to do cost management.
So the qualitative research method has been conducted in such a way that provides the opportunity for both the company and the researchers to know the dynamics of the competitive market as well as gives a systematic knowledge about the product to make it a bit better in the future.
Section 2: Instrument and Conclusions
A research instrument is a tool used to obtain, measure, and analyse data from subjects around the research topic. There are different kinds of instruments used in research. Two types of instruments can be used in this research. They are- interviews and observations.
An interview is planned with Tesco Marketing Manager and Marketing Team members. From this interview, we will know what kind of marketing strategy is used in Tesco. From this interview, we will know about their future planning. This interview will also show how much development the team members are expecting from the company. This interview gives a clear idea of why they want to adopt those strategies. I created the open-ended questionnaire here. This questionnaire for the interview has been made to two managers. When it comes to market research, open-ended questions play a critical part. The survey relies upon open and subjective kind questions and gives a responder the possibility to freely write their overview or opinion. This open-ended query allows the members to reply to the query primarily based on their perception and experience. Open-ended questions affect the respondent to share their evaluation and opinion with you. Such query patterns make them trip valued, and they share their remarks besides limiting their thoughts. An open-ended query is a structure of qualitative research. We can ask an open-ended query when we want to establish a platform for higher hold close.
I have observed some main themes in this research work to complete the research paper. Marketing is a way of presenting products to target customers in any market. Companies all over the world want to adopt sustainable marketing and advertising methods to gain a more aggressive advantage over their competitors. The role of Tesco's promotional advertising belongs to one of the two major promotional theories. These are considered "push" or "pull" theories. All advertising and marketing activities, including advertising, profit promotion, private and personal sales of public housing, fall into one of these categories. Marketing is a social process in which individuals and organizations get what they need and want by creating value and exchanging value with others. It is also an organizational feature to create, communicate and provide value to customers by achieving the benefits of organizations and their shareholders. Fatricia (2017) stated that the Tesco Marketing Group aims to achieve a competitive advantage with the use of ads. Promotion offer, club card, occasional discount, one person purchased for free. Includes market surveys with the fashion of commercial companies and future plans and all elements of opportunity. The purpose of the Tesco Marketing Strategy is to help customers get the greatest pride that successfully satisfies their wishes and expectations of products, prices, flow paths and promotional technologies. By using strategic listings, Tesco has been actively beneficial and has become one of the largest retailers in the world. The reason for using these two instruments of interview and observation in this research is that the most known about Tesco is through these two instruments. The marketing promotional act used for business development at Tesco is known through interviews with Tesco marketing team managers. And by observation, I can find out what strategies Tesco's marketing act is using. (it is the part on Instrument and all these things are related to the job card)
This whole research gives a brief description of Tesco's Marketing promotional actions for business development. Marketing promotional action is truly an enterprise development approach for an organization like Tesco. It is moreover associated with a company’s strategic endeavour and integrates market understanding to deliver merchandise or offerings to market or even enhance a new market for a product. Furthermore, Marketing is the social manner with the useful resource of which a person and agencies attain what they want and choose thru creating and replacing prices with others. Moreover, it is an organizational characteristic that is set out for creating, communicating, and presenting prices to the customers in conducting the benefit for the agency and its shareholders. In this research, there is a brief discussion about problems and the key Readings. This research also mentions two appropriate research methods. They are Secondary data collection methods and Qualitative data analysis. The secondary information series methods involve the researchers in the usage of the records to analyse the lookup question so that the transport experience will be better in first-rate, as the secondary information is on the whole accrued from the different sources of journals and newspapers. The Qualitative research technique is analysing the ideas of advertising the business development of Tesco. The strategies blanketed in this motion research help the researchers in looking at the present data accrued from the foremost sources. The Qualitative research technique is analysing the ideas of advertising the business development of Tesco. The strategies blanketed in this motion research help the researchers in looking at the present data accrued from the foremost sources. This research uses two instruments. They are - interviews and observations. These two instruments have helped a lot in research. Interviews give a lot of ideas about marketing strategy from marketing team managers and marketing team members. This research is about TESCO's Marketing Promotional Act. These two instruments give a lot of ideas about the question in this research paper. Observations reveal what customers think about TESCO products. Observations show the effectiveness of Tesco's marketing strategy on customers.
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Section 3: Research Dissemination
3.1 Relevance and audience
This research provides information on Tesco's marketing and promotional strategies. Its marketing strategy is much bigger because its customers are spread all over the world. A target market is described as a team of humans having frequent interests, demographics, and behaviour. E-commerce businesses use a lot of purchase intentions data. This is a critical piece of record that they ought to possess to recognize the shopping for intentions and pastimes of achievable customers. To obtain precious commercial enterprise insights, it is extraordinarily crucial to goal the right humans for research. Analysing the target audience is an essential phase of marketing strategy research. This research is very useful for any small company that wants to grow. There are also some companies whose marketing strategy has failed, so they are not making any improvement. Those companies will also benefit from this research. Some people are thinking of opening their own company. This research is very useful for them. The marketing strategies outlined in this research can greatly benefit a newly formed company.
3.2 Communication of research
After completing the report I can realize some points which can be profitable for Tesco. Tesco is a retail company so it can be a partner with the goods industry. If these two industries form bonds with each other, it will be profitable for both companies. For example- Unilever UK is a wholesale customer goods company and Tesco is a retail company. If these two industries form bonds with each other and keep their competition away, it will be profitable for both companies. Both the two industries can follow the same market strategy, it can be profitable. Two companies are well-known companies. So if they work together it will be a profitable business. Besides, Tesco can use social-media in a proper way to make a target audience because of the era of social media. They can get a target audience by communicating with such People, who are following social media a lot more. People can learn about the products of many companies from social media. Instagram is now much more popular on social media. I think if Tesco could create its page on Instagram and create a communication factor; this would be much more profitable for Tesco's growth. Now the opinion of social media is very important to people. And there are many benefits of promotion on social media. This will allow more people to know about the products.