2 MARKETING 1. Executive Summary The report throws light in analysing the situation analysis of Marks and Spencer Brand which is based in United Kingdom. With the help of the external and internal environment analysis, the different kinds of aspects need to be analyzed which will be helpful for understanding the target market as well as objectives which needs to be achieved by the company in competitive market. Lastly, the integrated marketing communication strategy needs the proper analysis which will be capable of IMC plan that needs to be adopted for improving the status of the company as a whole.
3 MARKETING 2. Communications Situation Analysis Competitor Analysis As per the help of competitor analysis, the three competitors of the company Marks and Spencer include the following: Name of the CompetitorsBasis for their PositioningImpact of Positioning in Existing communication strategy ZARAThe way of positioning is that thecompanyiscapableof selling most unique design of clothes and it mainly used the usage-basedpositioningfor highlightingtheircustomer centricapproachfor satisfyingchangingand trending needs of customers successfully (Wensley 2016) Usagebasedpositioningis helpfulforcommunicating through the products towards the customers regarding the qualityoftheproducts successfully(Weerawardena 2018) MACY’sThecompanymainly positionsthemselvesasthe brand which mainly focuses on the quality and price both which is high and it targets onlyspecificgroupof Usagebasedpositioning helps them in communicating unique benefits of products as well as services and the goal is regarding highlighting the powerful attributes such
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4 MARKETING customersasthepriceandunique design which can never be adopted by competitors CHANELThemainapproachof positioning themselves is the style and comfort and quality oftheclothingwhichis classic and suit the needs of customers The comfort and quality of clothing is the main approach whichhelpsthemin maintainingtheir communicativestrategy popular Consumer Analysis The major customers of Marks and Spencer include the different men and women who are ranging from the age of 35 to 55 years old. The main reason for consumption of the products of Marks and Spencer includes the perfect collection which is designed in basic and simple manner. They include the plain, white shirts as well as other clothing which are matching the needs of customers (Samiee and Chirapanda 2018). The quality of the product is the most essential element which is looked by the customers while making the purchase from M&S as it is the major aspect which attracts them towards the company. More than 50% of the customers who prefer to buy clothing from M&S and the segment of clothing is highly profitable in nature which makes them one of the top companies in case of delivering quality services and products to customers (Patrutiu-Baltes 2016).
5 MARKETING Market Analysis The geographic location which will be warranting the stores of M&S are established in the high population along with traffic areas. The major population that will be capable of responding to the company includes the ones ranging from young generations to the ones who belongs to the middle-aged customers. M&S is capable of offering products to the different customers and make them feel satisfied (Olson 2018). Product Analysis The M&S is capable of providing the different clothing and accessories which are unique and are the latest trend. The diversified portfolio of products includes both apparels for men and women along with kids. M&S is capable of selling their house brand other than the international brands which has been capable of improving their profitability and revenue growth successfully. M&S has been using the eco-friendly packaging and they are constantly promoting the same which has helped them in delivering the customers with sustainable products (Morgan et al. 2019). The delivery of the products and services of M&S is beyond the expectations of customers as when the customers purchase products through online portal, it has been reached to customers before the estimated delivery date. Communication Analysis The existing brand positioning of M&S is communicated through the social media channels along with launching different offers and it is effective in attracting the different group of customers successfully (Kotler et al. 2018). The major strengths and weaknesses of the respective communication strategy includes: Strengths ï‚·It is helpful in increasing the brand awareness
6 MARKETING ï‚·It helps in improving satisfaction among customers Weaknesses ï‚·Thereislack of thequalifiedprofessionalsin handlingthedifferentpostsof customers ï‚·As it is time consuming, therefore, it impacts the performance of company negatively (Kingsnorth 2019) 3. Target Market Profile The segmentation of customers for M&S is done as follows: ï‚·Demographic-Both women and men who are ranging from the age group of 15-45 years and the income is mid-rangeï‚·Psychographics-The ones who are interested in the trends of the fashion and have accurate knowledge (Key and Czaplewski 2017)ï‚·Attitude-The different individuals who prefers the company who follows the different CSR practices and they are sustainable in practices in selling productsï‚·Purchasing Behaviour-The different individuals who prefer to consume the products which are trending and high in quality The motivation of the customers towards purchasing the products include the fact that M&S mainly tries to be eco-friendly in their approach for selling the different products in the market. The customers in the current scenario are mainly aware regarding the different sustainability practices as the environmental health is the main concern (Baran and Galka 2016). In addition, the customers of M&S have the consumption patterns which is related to the launching of offers by the company for satisfying their requirements successfully. The media consumption is the major content in case of M&S as there are magazines which are
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7 MARKETING being taken out for making the customers aware regarding the different launches that are done by them (Adler 2020). 4. Objectives Marketing Objectives ï‚·To create the customer focused products which will be helping them in differentiating from the other competitors by bringing the fresh look to the segment of plus size ï‚·To increase the market share of the company through selling the new segment of plus size garments within 2021 and increases to more than 10% (MarksandSpencer.com 2020) Communication Objectives ï‚·To create awareness regarding the new segments which will be introduced in the company through social media channelsï‚·To help in shaping the attitude of the different customers which will be effective in managing the sales and revenue percentage successfully and appropriately 5. Integrated Marketing Communications Strategy Promotional Events-It is one of the IMC strategy which has been adopted by M&S for analysing and meeting the different demands of customers in an appropriate manner. M&S has been creating lot of buzz through organizing the unique events which will be bringing together starts on the same field (MarksandSpencer.com 2020). Personal Selling-It is the other IMC related strategy wherein M&S tries to adapt continually to the different kinds of aspects which helps in resonating the different customers
8 MARKETING in meeting the audience’s requirements and impact the effectiveness of the company in a suitable manner. Public Relation-It is the other aspect which is followed by M&S in improving the performance with the future campaign of making the customers happy with the services and products delivered by them. As to promote the products through the usage of the social media, M&S is helpful in creating the brand buzz in managing the growth in following the campaign successfully. Moreover, M&S has been capable of setting promotional budget which has been capable of increasing the growth of the company in a strong manner and it impacted the effectiveness of the company in a suitable manner. M&S mainly emphasizes to provide the common message on the different mediums of communication especially which is basically online. M&S uses the print media, the advertisements on television, mobile advertisements along with social media campaign (MarksandSpencer.com 2020). The organization uses the own website for promoting the brand, clothes along with women, men along with kids that are helpful for improving the growth of the company in a successful manner. In addition, the company M&S mainly chooses the marketing strategy carefully, therefore, it will be aligning the advertisement campaign with the digital marketing along with the in-store strategy successfully. The major emphasis of the M&S company has been basically on the TV and mobile advertisements which has been capable and helpful for improving the performance of the company in a supportive manner (MarksandSpencer.com 2020). There are different other IMC aspects which include the fact that there is a special loyalty program which is being run by Sparks that helps in adding point to the account of the customers of M&S on the basis of the amount which has been spend on shopping. The reward points will be spent on the future purchases from the stores of M&S in a successful
9 MARKETING manner that will be capable of improving the growth of the company in comparison to the other competitors. Conclusion Therefore, it can be concluded that the marketing strategy of the M&S have been capable of making the company highly effective in achieving the goals sustainably. From the communicationobjectives,ithasbeenanalyzedthatinordertomeetthedifferent requirements of the customers, it will be requiring to improve the effectiveness of products which are sold by them and it impacted their level of profitability successfully.
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10 MARKETING References Adler, R.M., 2020. Competitive Marketing Strategy. InBending the Law of Unintended Consequences(pp. 153-171). Springer, Cham. Baran, R.J. and Galka, R.J., 2016.Customer Relationship Management: the foundation of contemporary marketing strategy. Taylor & Francis. Key, T.M. and Czaplewski, A.J., 2017. Upstream social marketing strategy: An integrated marketing communications approach.Business Horizons,60(3), pp.325-333. Kingsnorth,S.,2019.Digitalmarketingstrategy:anintegratedapproachtoonline marketing. Kogan Page Publishers. Kotler,P.,Keller,K.L.,Ang,S.H.,Tan,C.T.andLeong,S.M.,2018.Marketing management: an Asian perspective. Pearson. MarksandSpencer.com2020MarksandSpencers(Online)Retrievedfrom https://www.marksandspecer.com[Accessed on 11thMarch 2020] Morgan,N.A.,Whitler,K.A.,Feng,H.andChari,S.,2019.Researchinmarketing strategy.Journal of the Academy of Marketing Science,47(1), pp.4-29. Olson, E.M., Slater, S.F., Hult, G.T.M. and Olson, K.M., 2018. The application of human resource management policies within the marketing organization: The impact on business and marketing strategy implementation.Industrial Marketing Management,69, pp.62-73. Patrutiu-Baltes,L.,2016.InboundMarketing-themostimportantdigitalmarketing strategy.Bulletinof theTransilvaniaUniversityof Brasov. EconomicSciences.Series V,9(2), p.61.
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