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Essay / Research Paper Abstract
This 5 page paper considers how Tesco’s has marketed its’ ‘Finest’ range. How the Target market were identified and attracted, the use of product, price, placement and promotion as well as the way that this is position in comparison to other goods and other supermarket brands. The bibliography cites 5 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEtesco2.rtf
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Unformatted sample text from the term paper:
position, though was not possible to achieve and maintain due to customer confusion. This is a multiple segment approach in the market (Thompson, 1998). The company has developed both budget
lines, for price sensitive consumers are well as a luxury range, called "Finest", both of which have been very successful, appealing to their target markets without the devaluing or confusion
taking place. The reasons for the success are an understanding of the target market and the development of the products to meet that market. The trend has been to
try and occupy a duel role in tight marketplace by the supermarkets. They attempt to still fulfil the need for the provision of the essential goods as well as be
able to provide the luxury goods that may be of a lower demand but may also be seen as more prestigious and most importantly have a greater profit margin. In
understanding the target market for luxury goods, both the Finest range at Tescos and competing products such as Sainsburys Be good to yourself products and Somerfields So Good
Products the origins of this market need top be considered as this defines an important segment of the market. The current trend in stocking
luxury brand foods can be seen as a result of the way that the economy has developed. Luxury food brands are often seen as associated with good economic conditions, and
in many cases they are. The economic conditions that have prevailed in the country have been mixed, with a great deal of people have a higher proportion of their income
available to spend on items were there is a desire to spend oneself and spend a greater amount on the cost of a meal as a treat. This is the
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