"Corporate Objectives and approaches to Marketing 1 ContentsIntroduction ..................................................................................................................................... 3Concept of Corporate Objectives and Tesco Evaluation with Information Available in PublicDomain ............................................................................................................................................ 3Marketing Orientation Concepts ..................................................................................................... 4Tesco Core Marketing Strategy ...................................................................................................... 5Conclusion ...................................................................................................................................... 6References ....................................................................................................................................... 7 2 Introduction The concept of marketing management refers to practical implementation of methods andtechniques by a business organization for adequate management of its marketing activities. Inthis context, the present report aims to evaluate and analyze the marketing strategies andactivities of Tesco for developing a proper understanding of its marketing management.Concept of Corporate Objectives and Tesco Evaluation with Information Available inPublic Domain The corporate objectives can be referred to as realistic and determined goals establishedby a company that influences its strategic planning for achievement of desired outcomes andresults. The corporate objectives are developed by a company for emphasizing on various areaswhere it wants to improve its performance rather than placing importance on a single area. Thecorporate objectives are specified to be achieved within a definite time-period and are usuallydeveloped and implemented by the top management of the company (Burmann et al., 2017).Tesco, a general merchandise retail company of the UK, has achieved a position of the biggestretailer across the world by meeting its customer’s needs and expectations as identified in itscorporate objectives as follows:? To maintain its core competitiveness in the UK market? To provide better customer experiences through giving them quality products andservices every day? To act responsibly and ethically to its communities and societiesThe company emphasizes on providing the best quality service to the customers formaintaining its competitiveness in the UK market. The company has adequately understood its3 customer needs and expectations that have helped it to achieve the position of biggest retailer inthe UK market. The company plans and develops its internal strategies as per its corporateobjectives that guide its business actions. Thus, Tesco has strengthened its brand image all overthe world by developing and following a strong statement of mission and values that is reflectedin its corporate objectives (Tesco: Strategic Report, 2016).Marketing Orientation Concepts The concept of marketing orientation refers to providing products and services to thecustomer’s in accordance with their needs and desires (Lamb, Hair and McDaniel, 2011). Thethree different types of marketing orientation concepts are discussed as follows:? Marketing Concept: This concept focuses on meeting the needs and expectations of theselected target customers of a company. The concept helps the businesses for attaining acompetitive advantage by appropriately resolving their problems through identification oftheir needs and desires.? Selling Concept: This is recognized as main concept in marketing management as itemphasizes on integrating the selling and promotional strategies of a company. Theconcept holds that a company must develop an aggressive selling and promotionalstrategies for driving its sales.? Production Concept: The concept is mainly used by businesses for realizing highproduction efficiency. It relies on the belief of customers to prefer more the products thatare widely available and not expensive (Lancaster and Withey, 2007). 4 Figure 1: Marketing Orientation Concepts(Source: https://iedunote.com/marketing-concept )As analyzed from the above discussion of the marketing orientation concept, Tescoseems to implement marketing concept as it place customer needs at the core of all its businessstrategies. The company has prioritized on acting responsibly towards its target customers andthus can be stated to adopt a marketing concept orientation (Tesco: Strategic Report, 2016).Tesco Core Marketing Strategy The marketing strategy of a company can be described an overall methods and techniquesimplemented by it for reaching its target customers and meeting their various needs andexpectations. Tesco as such implements and adopt a differentiated marketing strategy forreaching its target customers and determining the type of products and services to be offered tothem. Tesco has differentiated its marketing activities through the use print and media5 "