Tesco(supermarket) lost market share Essay Example | Topics and Well Written Essays - 500 words

Tesco(supermarket) lost market share - Essay Example On the other while some of the players in this industry such as Waitrose have been expanding the number of stores, Tesco has been doing very little with regard to their geographical accessibility. Despite the extension of floor space having been a major driver in the growth of Tesco in the past, they have not been doing it as aggressively as they used to do before. There are a number of things that Tesco Supermarket can do to regain market share. Tesco might consider staying relevant through innovation. One of the best ways through which a business organization can remain competitive is by identifying emergingtrends, trends before their competitors do (Kotler&Kotler 2012, p. 119). This will be possible if they pay close attention to the things that change in the lifestyle of their customers. Tesco supermarket should also consider getting in touch with their customers. At this age public relations is not all about receiving the complaints of customers. However, it has developed to the extent that business has to seek to know some of the things that they customers wish they could get from supermarkets. They should make sure that they do not make any assumptions about what their customers want, but get but creates avenues for continuous communication between them and their customers (Shafer 2011, p. 91). They should consider acting on the possible recommendations of their customers as soon as possible. Tesco supermarket should also consider simplifying the buying process. When buying processes are deemed to be lengthy and complicated, many customers will always opt for somewhere where the process is simpler. Accessibility is always important for any chain of stores. Customers might be willing to purchase from a certain supermarket, but fail to do so because the supermarket does not have any stores in their locality (Gordon 2002, p. 201). Given that Tesco has not been recently active in terms of expansion, it would be beneficial for them to start