As much as possible. Admission into one of the top science or engineering colleges in India. Her joy is understandable. WestBridge was among those who reaped healthy returns when the company was sold.
The different sorts of market structure include monopoly market, perfect competition market, monopolistic market, duopoly market, and oligopoly market. In monopoly market one or two organization dominates the overall market.
In this market structure the price is generally fixed by the organization in accordance to its own willingness and profit maximization is the prime aim of the organization Aterido et al, Perfect competition market symbolises a huge competition among several sorts of organization in a same industry.
In UK there is a huge competition in the supermarket so Tesco has to operate its business in the perfect competition market. Tesco does not have the option to structure the price of its products so the output strategy is the only choice of the organization Tesco plc in india order to enhance opportunity cost over its capital investment and to maximize the volume of profit.
Monopolistic market structure is described as a market structure where the products are highly different from one another and the business organizations selling such products have their command over that product on the basis of their brand. In this market there is no substitute so the pricing strategy and output decision has to be made by the organization in accordance to the uniqueness of the product and the demand of the product in the market.
Duopoly market is nearly same as monopoly market. The output decision is made by the organization on the basis of profit maximization. Tesco as a leading retail supermarket has to primarily emphasize over the demand of its products in the market.
If the demand of the product is high in the market then the organization has to enhance the rate of supply of its products in the market in order to enhance its margin of profit.
Secondly the buying behaviour and perception of the customer about a product is highly significant for Tesco in undertaking various sorts of strategies for its market growth. It has been observed that consumers become loyal to the organization due to its quality products and its excellent customer service Lambsdorff, This approach enables the organization to develop its pricing strategy since the customers are willing to pay more for the maximum satisfaction derived from its products.
Elasticity of demand enables the organization to determine the ratio of change in demand of its products in the market in accordance to the change in price.
It is highly beneficial for the organization to undertake pricing strategy. The elasticity of supply enables the organization to determine and undertake output decision regarding any products and services.
The price and demand of the product in the market determines the supply elasticity of a product in the market. The economies of scale are highly beneficial for the organization to maximize its profit by investing less amount of money.
It has been observed that Tesco emphasizes over the quality of the products instead of quantity in order to attract high profiled customers. It enables the organization to cut down its cost of production and earn more revenue Weismann, Business environment is another significant market force that structures the responses of Tesco.
It includes both internal and external environment.
The stakeholders constituting the external environment comprises of customers while the internal environment comprises of employees, shareholders, suppliers and creditors. The organization structure and culture enables the business organization to combat with the various sorts of marketing forces in order to maximize the profit.
Business environment is highly significant in the process of an assessment of political factors, social factors, economic factors and technological factors. In UK Tesco has to face various sorts critical situations like labour problem, allocation of resources and various other problems while carrying out its business due to various sorts of laws and regulations framed by the government in carrying out business activities Ayyagari et al, The economic factors that impacts the business environment of Tesco comprises of the employment rate, Gross Domestic Products, inflation rate, fluctuation in National Income and various other factors.
The social factors comprises the perception, expectation and approach of the customers to the organization along with the relation of the organization with other stakeholders like employees, suppliers, shareholders, creditors and the government.
The technological factors are highly beneficial for the organization in maximizing the quality and quantity of its output by investing fewer amounts in a very small span of time. It reduces the cost of production to huge margin. The business environment of Tesco largely depends on the culture of the organization.
The culture of the organization is totally based on an effective coordination between the management and the workforce of the organization Ferreira et al, The internal culture enables the organization to undertake various sorts of critical challenges while accomplishing various sorts of goals of the organization.
Tesco as a significant globally recognized retail organization plays very important role in strengthening the economic development of UK by carrying out overseas trade.View Jayesh Bhayani’s profile on LinkedIn, the world's largest professional community.
Jayesh Bhayani. SVP Technology at Tesco PLC. Location London, United Kingdom CA and Mumbai, India Title: SVP Technology at Tesco PLC. Jun 01, · Future Group India. The rewarding way to pay at Future Group stores. OCBC SG Mobile Banking. Oversea-Chinese Banking Corporation Limited.
Manage your money with ease anytime, anywhere with OCBC Mobile Banking. Tesco plc. Now you can shop at your own convenience and buy groceries online! Tesco Online Malaysia/5(2K). The company and its subsidiaries have more than 6, stores in Europe and Asia, plus significant joint ventures in China and India.
Among its banners are Tesco Extra, Tesco Superstores, Tesco Metro, Tesco Express, and One Stop convenience stores.
Tesco PLC Check out for the latest videos of Tesco PLC at Times of India. Tesco Plc. Apparel and textile industry company news.
Subscribe via RSS What is RSS? Latest Articles. UK retail group Arcadia is finalising its first foray into India, with reports suggesting that the company may open 15 Topshop and Topman stores there in the next three years. UK. TESCO PLC. Tesco is a British multinational company (MNC), headquartered in Hertfordshire, United Kingdom (UK).
Tesco was founded by Jack Cohen in , a small stall in East End of London selling surplus groceries.