Conor Cunningham
Unit 1 – Exploring Business
M1 – Assess the relationship and communication with stakeholders of two contrasting
businesses using independent research.
Stakeholder Influence Justification
(1-10)
10 = Highly
influential
Customers 10 Tesco's customers are external stakeholders. However, they are
probably the most important. They have a strong influence over
the aims and objectives of the business. If customers are not
satisfied with the products and services Tesco has to offer, the
business will suffer as a consequence. The customers are really
important to Tesco as they provide the sales that enable the
business to make a profit and grow. Tesco do recognise the
importance of their customers. Their mission statement is “to
create value for customers to earn their lifetime loyalty”.
Tesco are constantly looking
at who their target audience
is and what the demands of
their target audience are.
Customers seek to influence
the aims and objectives of
Tesco as they want cheap
products for the whole family.
Tesco try their best to meet
this demand to ensure regular
customers. Tesco have different stores such as “Tesco Extra”
which opens 24/7 to accommodate customers who don’t have
time to shop during the day. Customers want high quality
products and reasonable prices. The customers of Tesco help
them survive and grow through repeated custom. Tesco reward
their customers by creating a lifetime of value.
https://secure.tesco.com/BrandGuarantee/HowItWorks
“Free delivery on all orders”
This is looking after the
customer and trying to
support families and people
on low income. It is evident
from the Tesco website that
, Conor Cunningham
they value their customers in a number of ways. They constantly
compare themselves to other large retailers such as ASDA and
Sainsbury’s. This is an attempt to influence the customer base
coming to them as opposed to shopping with their competitors.
They even mention “Morrison’s does not have stores in Northern
Ireland”, again this is an attempt to make the customer feel like
Tesco is the more convenient option.
“Up to Half Price Toy Sale”.
This shows how Tesco are
influenced by its customers
to provide inexpensive
products and this is a
fantastic marketing strategy,
particularly at this time of
year coming up to Christmas
where customers – families
in particular – will be looking
for cheap gifts.
http://www.tesco.com/#w1
“Helping you save” shows
how the customers have
influenced Tesco in their
techniques to drive sales
forward. They want the
customer to feel like they
are saving money as they
shop and not actually
“spending”.
An organisation survives through customer loyalty i.e. having
regular customers. Tesco ensures that they get regular customers
by giving them loyalty cards, promotions such as “buy one get one
free”, discounts and other special offers. Tesco are getting regular
customers which bring in more profit which then can be used to
help expand the business. Tesco made customer loyalty marketing
work when so many other retailers failed. They give vivid insights
into how club card benefits Tesco and more importantly, its
customers. This is all for the customer perception. It makes the
customer feel that Tesco is the cheapest option and is the number
one place to shop. Customers can review their experiences at and
with Tesco on websites which can be seen by the public. This
influences Tesco to provide the best quality service in order to
have a good reputation.
Customers will influence the price of Tesco’s products and the way
in which its services are delivered. Customers want a high quality
Unit 1 – Exploring Business
M1 – Assess the relationship and communication with stakeholders of two contrasting
businesses using independent research.
Stakeholder Influence Justification
(1-10)
10 = Highly
influential
Customers 10 Tesco's customers are external stakeholders. However, they are
probably the most important. They have a strong influence over
the aims and objectives of the business. If customers are not
satisfied with the products and services Tesco has to offer, the
business will suffer as a consequence. The customers are really
important to Tesco as they provide the sales that enable the
business to make a profit and grow. Tesco do recognise the
importance of their customers. Their mission statement is “to
create value for customers to earn their lifetime loyalty”.
Tesco are constantly looking
at who their target audience
is and what the demands of
their target audience are.
Customers seek to influence
the aims and objectives of
Tesco as they want cheap
products for the whole family.
Tesco try their best to meet
this demand to ensure regular
customers. Tesco have different stores such as “Tesco Extra”
which opens 24/7 to accommodate customers who don’t have
time to shop during the day. Customers want high quality
products and reasonable prices. The customers of Tesco help
them survive and grow through repeated custom. Tesco reward
their customers by creating a lifetime of value.
https://secure.tesco.com/BrandGuarantee/HowItWorks
“Free delivery on all orders”
This is looking after the
customer and trying to
support families and people
on low income. It is evident
from the Tesco website that
, Conor Cunningham
they value their customers in a number of ways. They constantly
compare themselves to other large retailers such as ASDA and
Sainsbury’s. This is an attempt to influence the customer base
coming to them as opposed to shopping with their competitors.
They even mention “Morrison’s does not have stores in Northern
Ireland”, again this is an attempt to make the customer feel like
Tesco is the more convenient option.
“Up to Half Price Toy Sale”.
This shows how Tesco are
influenced by its customers
to provide inexpensive
products and this is a
fantastic marketing strategy,
particularly at this time of
year coming up to Christmas
where customers – families
in particular – will be looking
for cheap gifts.
http://www.tesco.com/#w1
“Helping you save” shows
how the customers have
influenced Tesco in their
techniques to drive sales
forward. They want the
customer to feel like they
are saving money as they
shop and not actually
“spending”.
An organisation survives through customer loyalty i.e. having
regular customers. Tesco ensures that they get regular customers
by giving them loyalty cards, promotions such as “buy one get one
free”, discounts and other special offers. Tesco are getting regular
customers which bring in more profit which then can be used to
help expand the business. Tesco made customer loyalty marketing
work when so many other retailers failed. They give vivid insights
into how club card benefits Tesco and more importantly, its
customers. This is all for the customer perception. It makes the
customer feel that Tesco is the cheapest option and is the number
one place to shop. Customers can review their experiences at and
with Tesco on websites which can be seen by the public. This
influences Tesco to provide the best quality service in order to
have a good reputation.
Customers will influence the price of Tesco’s products and the way
in which its services are delivered. Customers want a high quality
