Strategy of Tesco Essay

4482 WordsNov 28, 201218 Pages
Tesco Strategy Analysis Introduction First I will start with brief introduction of the firm I am writing about. Tesco is the largest food retailer in UK, operating around 2,318 stores worldwide. Tesco operates around 1,878 stores throughout the UK, and also operates stores in the rest of Europe and Asia. Tesco.com is a wholly-owned subsidiary offering a complete online service, including tescodirect.com and tesco.net. The company also offers a range of both online and offline personal finance services. Tesco is headquartered in Hertfordshire, UK. For the year ended February 2004 Tesco PLC achieved revenues that totaled £33,557 million, an increase of 18.7% against the previous year’s revenues that were £28,280 million. (5) History This part I have divided into three main fraction: Grows; Marketing/management strategy and competition during each particular period of time. Competition is included here for the reason that I am strongly persuaded that it is the main driving force for any business. Pre 1980 Grows The Tesco brand first appeared in 1924. Name was formed by using the first three letters of the supplier's name (TES), and the first two letters of a brand creator surname ((CO) Jack Cohen), forming the word "TESCO". Tesco floated on the London Stock Exchange in 1947 as Tesco Stores (Holdings) Limited. The first self service store opened in St Albans in 1951 (still operational in 2008 as a Metro), and the first supermarket in Maldon in 1956. During the 1950s and the 1960s Tesco grew organically, but also through acquisitions until it owned more than 800 stores. The company purchased 70 Williamsons stores (1957), 200 Harrow Stores outlets (1959), 212 Irwins stores (1960), 97 Charles Phillips stores (1964) and the Victor Value chain (1968) (sold to Bejam in 1986). (3) Marketing strategy Tesco introduced the new superstore concept for Britain. After

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