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.

How important is a great brand logo?

A recent BBC News article asked: How important is it for a company to have a great logo? The article pointed to Nike's swoosh as an example of a well-established, highly recognisable logo.

One of the brand experts quoted in the story says: 'A logo is a simple and functional signpost to help people find and identify your business. But for a logo to be successful, the company behind it must be a respected and trusted brand'.

Nike, whose swoosh shown here is its Twitter and its Facebook profile picture, has nearly 5 million Twitter followers and more than 22 million Facebook likes. The swoosh is enough to identify the business and its most famous brand.

Nike describes itself this way: NIKE, Inc. fosters a culture of invention. We create products, services and experiences for today’s athlete while solving problems for the next generation. For investors, it says: We create innovative, must-have products. We build deep, personal connections with consumers. And we deliver an integrated marketplace with compelling retail experiences.

Long-term studies of brand value indicate: 'brands that deliver a unique and compelling core proposition, a distinctive brand identity, and great advertising have recorded 168% brand-value growth on average over the past 10 years'.

So how important is a great brand logo? Very important if it conveys the brand's image, identity and core proposition. The swoosh isn't responsible for Nike's market leadership but it helps Nike's brand visibility every time a sports fan sees one on a champion athlete's hat, shirt or uniform.

Mars lives its values with Fairtrade sourcing

From 'The Five Principles of Mars'

Mars, the name of the UK company and the chocolate bar, is governed according to five core values:

1. Quality (of work, of product)
2. Responsibility (for results and for ethical decisions)
3. Mutuality (shared benefit in business relationships)
4. Efficiency (maximum productivity from all resources)
5. Freedom (company independence to grow and prosper)

The company recently announced it will begin using only Fairtrade certified, ethically-sourced cocoa in its Mars bars sold in the UK and Ireland. The product will carry a special Fairtrade logo from this autumn to promote this arrangement.

For Mars, the move to Fairtrade-only cocoa fits with the Mutuality principle of benefiting stakeholders (such as cocoa growers) in its business relationships. The firm's long-term goal is to use only sustainably-grown cocoa in its products by 2020.

Core values of the Warburtons brand

Family-owned Warburtons has been named to two 'top grocery brands' lists in recent weeks, due to its positive brand associations and rapid growth.

• Kantar Worldpanel put Warburtons at the top of the list because it is chosen so frequently by so many UK households--and because of its product innovations.
• The Grocer put Warburtons #2 in its most recent brand listing (just behind Coca-Cola), in part because of the huge sales expansion it has experienced.

The company's turnover has doubled in the last ten years and continues to grow because of new product lines and product variations. It's aiming to capture market share via an expanding range of gluten-free products, for example.

Warburtons wants its brand to be associated with five core values: family, ambition, responsibility, quality and care. These values form the foundation for its marketing, including new product development and support for nonprofit causes. The family's name is on the business, and Warburtons works hard to maintain its brand leadership by applying the five core values every day.