Pandemic and Purpose

The COVID-19 pandemic continues worldwide, with some nations and some US states beginning to reopen their economies even as scientists pursue treatments and vaccines to combat the coronavirus.

Interviewed by Bloomberg BusinessWeek in May of 2020, the CEO of Unilever says:

"Our company is guided by three deeply held beliefs: That brands with purpose grow, companies with purpose last, and people with purpose thrive. And we think that refrain is going to be even more relevant in a post-coronavirus world than in a pre-coronavirus world."

Alan Jope sees trends shaped by the pandemic that include an emphasis on hygiene, on staying safe at home and on the "distance economy." He indicates these trends point to more in-home consumption and digital consumption.

Stay safe as this pandemic continues.

Tesco's core purpose, over time

Tesco has published its core purpose (also known as the mission statement) on its corporate website for years. Over time, the core purpose has changed slightly to a tighter focus on what, specifically, Tesco aspires to do for its customers.

In 2010, Tesco's mission statement (shown above, retrieved from the Internet Archive's Wayback Machine), was 'to create value for customers to earn their lifetime value'.

In 2014, Tesco's mission statement (shown above, again from the Wayback Machine), was to 'make what matters better, together'.

In 2017, Tesco's mission statement (shown above, from today's website), was 'serving Britain's shoppers a little better every day'.

In my opinion the 2017 mission statement is stronger than the earlier versions. Why?

Take a look at Checklist #1 in my Essential Guide to Marketing Planning for questions to use in evaluating any mission statement, including Tesco's. For example, one question is: 'Who will the organisation focus on?'

Tesco's 2014 core purpose was less specific on this point than its 2017 core purpose, which clearly states 'Britain's shoppers'. In other words, it defines a particular group of customers in a particular market. The statement also mentions that Tesco will be 'a little better every day'.

This provides clear strategic direction for decision-makers (and reflects Tesco's shift away from operating stores in other nations). The clarity helps the grocery retailer's turnaround efforts, which depend on careful pricing and on consistent customer service, to battle intense competition.