Thesis: Product development in Tesco

Sample Thesis Paper

Product development: this is a method of market penetration where a company engages in research and innovation to come up with new products for its market. This tactic leads to production of complimentary or supplementary goods. This cements the relationship between the producer and the consumer. In applying this, Tesco has introduced financial services by establishing a bank for its clients (NGFL, 2008). It has also introduced on-line shopping, which makes the task easier for customers (Tescoplc, 2011).

Diversification: after doing business for sometime, a company can produce new products for new markets. Tesco is a good example of this. Starting off as a grocery retailer, the company expanded and diversified its products to include books, clothing, movies an internet services among others. It produces at least an item for any person in the community, and this has made it a successful business (Tonni and Tonchia, 2003).

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