Exploring Sustainability and Entrepreneurial Orientation in Marketing Strategies

The provided assignment content includes a collection of academic articles and online resources that focus on marketing, sustainability, and strategy. The articles cover various topics such as marketing intelligence, entrepreneurial orientation, market segmentation, and strategic planning. Additionally, the content includes online analyses of PESTLE, Porter's Five Forces Model, SWOT Analysis, and market segmentation. Overall, the content appears to be a mix of theoretical and practical approaches to understanding marketing and strategy.

Marketing Plan

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
Aim.........................................................................................................................................1
Scope......................................................................................................................................1
Background.............................................................................................................................1
Vision ....................................................................................................................................2
Mission...................................................................................................................................2
CURRENT SITUATION ANALYSIS............................................................................................2
Internal Analysis.....................................................................................................................2
External Analysis....................................................................................................................3
Market Analysis......................................................................................................................4
SWOT ANALYSIS.........................................................................................................................6
SEGMENTATION, TARGETING AND POSITIONING.............................................................6
Segmentation..........................................................................................................................6
Targeting.................................................................................................................................7
Positioning..............................................................................................................................7
MARKETING OBJECTIVES.........................................................................................................8
MARKETING MIX.........................................................................................................................8
ACTION PLAN...............................................................................................................................9
MARKETING BUDGET................................................................................................................9
CONTROLS AND CONTINGENCIES........................................................................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................10

INTRODUCTION
Marketing is an activity that helps business firm to meet key goals and objectives by
having effective promotion of product and services. It is a combination of activities that attract
potential customers towards company so that their needs can be accomplished in desired way. In
this, marketing planning must be considered as critical aspect because it helps in effective
designing of marketing strategies (Layton, 2011). Marketing plan is consisted of diverse
activities that are essential to consider from management such as segmentation, targeting,
positioning, marketing strategies, etc.
In present report, marketing plan is being discussed on the basis of situational analysis so
that M&S can have effective launch of new product in Asian market. However, the report also
provide assistance to marketing activities so that promotion of existing product line can also be
taken into account. Report will also focus on market audit so that key circumstances within
market can be analysed. It assists in effective selection of marketing tools and techniques for
sustainable development.
Mission Statement of Report
Key motive behind the marketing plan is to present suggestion so that marketing
activities of Marks and Spencer can be improved in order to lead business to impressive level of
success. Company is looking forward to expand its business in Asian market so by having
improved focused on marketing plan effective marketing strategies can be developed in this
context (Lumpkin and Dess, 2011). It will also retail firm to establish its products and services in
Asian market. Key target market will be India so marketing plan will help in entering Indian
marketplace.
Marketing plan development is beneficial to provide better suggestions to Marks and
Spencer in regard to marketing strategies so that business firm can easily promote its product and
services in Asian market. Along with this, domestic level operational activities can also be
improved in order to gain competitive advantage (Maltz and et. al., 2006). In addition to this, it
can be said that use of market audit and pestle analysis will allow to have proper understanding
in respect to the organisation. With an assistance of this, market conditions can be judged in
appropriate manner. Moreover, report will also focus on use of online marketing in order to meet
the goals and objectives of marketing plan.
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Background
Marks and Spencer PLC is one of leading multinational retailer that operates its business
from Westminster, London. Company is currently dealing in cloths, home products, luxury food
products, etc. However, organisation was established in year 1884 by Michael Marks and
Thomas Spencer (Okumus and Mutlu, 2012). The company also began to sell branded goods like
Kellogg's Corn Flakes in November 2008. Organisation is well focused towards business
expansion for sustainable development.
Vision
Marks and Spencer is focused to maintain the standards so that better competitive
advantage can be gained against others in the market.
Mission
To improve quality of product and services on continuous basis by having improved
focus on innovation and trust.
STAKEHOLDERS
There are number of stakeholders that need to be consider during formation of marketing
plan. Key stakeholders of M&S are customers, employees, investors and suppliers. It is
significant for business firm to analyse the key needs of all stakeholders so that appropriate
decisions can be taken into account. By having improved focus on stakeholder theory the
management can easily understand its stakeholders. Stakeholders of organisation can be
classified into two segments such as internal and external. It has been noticed that stakeholders
like suppliers, society, government, creditors, shareholders and customers are key external
factors that have interest on organisational process. As same employees, manager and owners are
internal stakeholders. It is significant for organisation to have appropriate focus on specific needs
of such stakeholders. In addition to this, customers are expecting to have accomplishment of
organisational needs. Suppliers key need is to have proper delivery of goods and payments so
that organisational objectives can be accomplished in appropriate manner. Employees key
demand is to attain facilities as per their key needs. It is beneficial to advance the motivation
level and lead business firm to impressive level of success. Stakeholders are considered as
individual or party who holds some interest in respect to organisational process. According to
Freeman stakeholder theory, it is necessary for M&S to have focus on diverse strategic tools in
order to meet the needs and expectations of stakeholders. Classification of methods can be as
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strategic management, corporate planning, system theory, organisation theory and corporate
social responsibility.
Key benefits of stakeholders participation is to have significant because it allows to
advance the work standards. As per consideration of stakeholders needs the new standards and
improvements can be employed. Along with this, level of satisfaction among members can also
be advanced in order to lead business to impressive level of success. However, disadvantage of
stakeholder participation is that it might be possible that they are not agreed with the decision of
management. It may impact the overall implementation process and may force business to bring
changes as per stakeholders needs. Stakeholders have unique insight into issues. They can secure
resources to assist company with decisions or project. Depending on project or timeline,
management may not have sufficient time to engage stakeholders. It is not necessary that
stakeholders hold strong leadership abilities that may also impact the overall development in
negative manner.
CORE COMPETENCIES
As per the detailed study, it can be said that Marks and Spencer is well focused towards
continuous improvement in services so that better competitive advantage can be gained over
competitors. Company is operating its business in retail sector and well focused towards
customer needs identification. With an assistance of this, organisation is having development of
its products and services that enhances overall opportunities. M&S has a record of success and
profitability since its establishment with well known reputation for its innovative and quality
products. Along with this, company is also well concerned about pricing that helps in meeting
customer needs (Rich, 2010). Employees are well skilled that allows management to manage
wide range of quality cloths. It is one of key reason that M&S is considered as leader in clothing
sector. Company is continuously having advancement in its profit margin ratio that allows to
meet standards in context to financial resources. In M&S members are having operations in
diverse teams according to different roles and responsibilities (Blankson and Kalafatis, 2007).
Recruitment is mainly concerned of payroll system that also creates better opportunity for
sustainable development. Pensions and learning programs also provide strength to the
organisation and lead business firm to impressive level of success. HR administration is also
concerned about improvement in HR standards so that issues can be overcome in desired way.
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M&S also has a general recruitment team who manage all store and head office recruitment
(Cooper, 2010).
These kinds of key values improves work conditions and present organisation as
responsible business. It is also one of key reason that M&S is well recognised as premium brand
that operate business activities in responsible manner. Along with this, it also improves the brand
image and offer better strength to the organisation. Training and development program is also
referred as key aspect that allows business firm to improve overall performance. It is beneficial
to advance the skills and improve level of innovation which is one of KPI of organisation. It also
helps in managing different activities in appropriate manner. Advanced level of market position
is also one of key benefit that allows business firm to accomplish its goals and objectives in
appropriate manner (Fernández, Cala and Domecq, 2011). High level of quality within products
is beneficial because it helps in improving customer base and ensure about success of firm.
However, internal analysis also indicates that company is slow in context to change
application that impacts competitive advantage in negative manner. It is necessary for business
firm to improve overall conditions and ensure that change is being implemented effectively.
Company is one of the UK's leading retailers with around 21+ million customers each week. It
can be considered as USP of organisation that helps in gaining competitive advantage. Social and
cultural aspects also need to be referred in appropriate manner for effective design of strategies
(Nicholas and et. al. 2013). Company is currently meeting key needs of customers in appropriate
manner because organisation is developing its products and services according to customer
needs. Needs and expectations of local residents is one of key preference of organisation that
allows to meet goals and objectives in desired way. Policies of UK government in context to
trade options are being considered in appropriate manner for long term opportunities. If business
is not considering legal values then legal issues might get occurred that may impact overall
performance in diverse manner.
In addition to this, it can be said that M&S is main focused towards media tools that also
allows firm to create better brand image in the market. Along with this, company is visible at
diverse networks of social media that allows to improve business performance. It helps in
attracting more and more customers towards wide range of products in order to meet goals and
objectives. Along with this, wide range of products is also key core competence of organisation.
M&S offer apparels for different age groups such as kids, young, men and women. Leather
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jackets, woollen cloths, formal shirts and casual wears are key strength of organisation. It attracts
wide range of customers towards business and help sin meeting objectives.
CURRENT SITUATION ANALYSIS
As per the detailed study of market analysis, it can be said that M&S is currently holding
high ratio of market share in international market. Improvement in market also indicates that the
M&S clothing section is also having great opportunities in the market. It also allows organisation
to lead business to impressive level of success. Along with this, the improvement in quality and
style of fashion products also attract more and more companies in the market and lead business
to sustainable development. It indicates that by having appropriate focus on same business values
the company can easily expand its business in Indian market. Company made its reputation in the
early 20th century with a policy of only selling British-made good. Marks & Spencer has a 40%
share of UK market that also creates better opportunity for organisation. With an assistance of
this, company can easily become leader in the market. Current position of M&S in market
provide strength that may lead business to impressive level of success. Organisation is also
holding good relationship with suppliers that also improve accomplishment of operational
activities in desired way.
In order to have effective designing of marketing plan, management of M&S must focus
on effective understanding of industrial trends. There are number of barriers that might be faced
by management of M&S while having business expansion at global level.
Political: Political barriers may affect the business firm development because there are
number of parties in India that may oppose the expansion activities. As per detailed analysis, it
can be said that political factors within India are stable and taxation system has been developed
to great context. It means the businesses have better opportunity to expand business in India
because political aspects provide better support to business.
Economic: The economy of India has been significantly stable, since the introduction of
the industrial reform policies in 1991 (Okumus and Mutlu, 2012). It has been noticed that the
GDP of nation is also improving day by day that enhances the opportunities for business firm. In
this, high ratio of profit can be generated in developed GDP of nation.
Social: According to social perception the people are more attracted towards clothing that
enhances the opportunities for business entity. Along with this, people are cost concious which
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also suits the existing segmentation criteria of organisation. Company is currently focused
towards cost conscious group in order to meet their needs by offering low cost product and
services (Rich, 2010).
Technological: India is served with both 3G and 4G technology which has facilitated
several of their technological projects. It also indicates that the use of technology is also at level
within nation that impacts overall development in positive manner. Above statement, indicates
that Indian market is appropriate for the organisation because it allows to have business
expansion in appropriate manner.
Swot Analysis
Strength
 It has been noticed that Indian economy is stable that enhances the level of purchase
power. High ratio of economy provides high income level among people which allows
company to accomplish goals and objectives.
 In addition to this, it can be said that retail sector within India is having great opportunity
in international market. Customers are more attracted towards retail services because it
offers convenience during shopping. Population demographic aspects are well maintained that also enhances the overall
performance. In India people belong to all age group in which young people ratio is high
that allows to have better opportunities in the market.
Weakness
 Infrastructure facilitates are not accurate that impacts the overall development of sector in
diverse manner. It means company may face issues while setting up a store in the Indian
market. Supply chain management issues are also common that influences overall performance. It
might be possible that business firm may face issue in quality system due to supply chain
management.
Opportunities
 Innovation is one of key opportunity that enhances effectiveness within organisation.
 Companies can also set out R& D departments so that new product line can be developed
to meet objectives. It will allow business firm to have designing of innovative products
and lead business firm to impressive level of success.
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 Going digital is not only about e-commerce but improving the way interaction. Company
can allow customer to have purchase through use of e-commerce it will improve sales
ratio.
Threats
 High ratio of competition is there in the market that impacts overall development in
negative manner.
 Lack of resources within nation may also impact the overall working of retail sector.
COMPETITORS
In order to have effective designing of marketing plan, it is significant for management of
M&S to have improved understanding about people. It has been noticed that population is
considered as factor which helps business to make up the market. In order to meet the needs of
external factors management is offering wide range of products for different age groups (Wilson,
and Gilligan, 2015). Marks and Spencer is holding strong customer segment that allows business
to deal with economic issues. Along with this, company is also maintaining its high market share
in the clothing market. There are number of competitors in the market that impacts the
opportunities of the organisation. Classification of its competitors can be as HS, House of Fraser,
Sainsbury, Tesco, etc. However, as company is well focused towards selling of wide range of
different products so negative impact of such aspects can be overcome in appropriate manner
(Yan, 2009).
It has been noticed that Tesco is one of competitor of company and it holds great
presence in international market. It impacts overall development of M&S because company is
lacking in international market due to low ratio of stores. Tesco is also holding highly popular
private label that impacts the brand image significance in context to M&S. Tesco is relatively
large stores with broad non-food lines hat also impacts the overall development of Marks and
Spencer (Ivy, 2008). Other than this, Debenhams is also a competitor of M&S that impact overall
development of company. Competitor also hold high reputation in the market that might
influence the market share of Marks and Spencer. Good product mix is also a key strength that
attracts customer to select Debenhams. It is also a critical issue for M&S to improve overall
work conditions and attract more customers to gain better competitive advantage. Its competitors
are also well focused towards changes in product line as per consideration of current trends. It
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means the management of M&S also need to make sure about it for sustainable development
(Jones and et. Al., 2008).
In addition to this, it can be said that factors that impact overall working of M&S must be
considered as critical aspect. Competitors are also well focused towards innovation and they are
introducing new product line for better opportunities in the market. Along with this, it has been
noticed that use of technology is one of key aspect that help its competitors to promote
operational activities in accurate manner. In order to deal with its competitors company also need
to change its technology consideration (Mason, 2007). For M&S, identifying and analysing
technological trends prevailing in the market is essential because it helps the management in
taking steps that would affect organizational performance. It means by having improved focus on
external factors the business firm may easily design marketing strategies and lead business to
impressive level of success. Other than this, it can be said that there are few other retail
organisations in the India that provide high competition to the firm. For example, Reliance
Retail, Walmart, Future group, etc. It is necessary for management to make sure that they have
analysed the product line and strategies of its competitors. These organisations have high market
share in the market that might be a critical issue for business firm.
SEGMENTATION, TARGETING AND POSITIONING
Segmentation
It is considered as one of most critical section that helps in leading business firm to
impressive level of success. In current scenario, the management of M&S will have
segmentation as per standards of demographic segmentation. However, company is currently
operating business with same segmentation criteria in existing market. It means it will be easy
for organisation to adopt key strategy as they are well known of it. In this, Indian customers will
be targeted on the basis of different age group that will also allow firm to have expansion with its
existing product line (Blankson and Kalafatis, 2007). It means the products will be available for
all age groups, young, old people and kids. It is significant for business firm to have
identification of customer needs so that services can be offered in order to meet key goals and
objectives. In addition to this, it can be said that company can focus on its target customers on
the basis of income level. By having improved focus on income level the pricing and targeting
decisions can be taken into account. Low level income will be key target customer because it is
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according to customer needs. Along with this, M&S may also focus on psychographic
segmentation so that better opportunities can be attained. In this, segmentation will be according
to lifestyle of people. In this respect the management may focus on introduction of new product
that will meet the needs of psychographic segmentation.
Targeting
It has been noticed that selection of targeting is also necessary so that product and
services can be promoted effectively in the market. It is considered as a strategy that provides an
information about tactics that help in meeting objectives. There are a wide variety of targeting
strategies of which some can be used by the company (Cooper, 2010). As per detailed study of
market conditions and future opportunities it can be said that management must target customers
on the basis of demographic segmentation. In this, different kind of products will be offered to
customers on the basis of demographic aspects. It will assist business firm to provide better
support to segmentation so that marketing plan objectives can be accomplished effectively
(Fernández, Cala and Domecq, 2011). Through concentrated targeting strategy, management can
look to attract large number of customers and clients according to their age group. It will help in
improving market share and lead business firm to impressive level of success. For new product
the company will focus on differentiation targeting in which M&S will introduce fashionable
products to attract customers who are attracted towards funky life style. Models and actors will
be key target market of the company for this product. In order to have appropriate targeting the
business firm will focus on psychographic aspects so that better opportunities can be attained. In
this, company will try to focus on activities that may impact the customer perception so that
better support can be provided to segmentation. It will also allow to have better opportunities in
market and lead business to impressive level of success. Organisation will try to influence its
customers perception by offering them high quality products at very low cost.
Positioning
In marketing plan, management must have appropriate selection of positioning strategy
so that product and services can be promoted in appropriate manner. As per current study, the
management must select differentiation strategy of positioning. In this, management of M&S
will mainly focus on sharing of information about product and services so that issues can be
overcome. In order to attract more and more customers the business firm will make sure that they
are presenting its services in different manner as compared to others in market (Wilson, and
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Gilligan, 2015). For effective positioning of services, the management of M&S may focus on use
of online marketing. It is a method that allow to have access of internet and other digital
mediums to promote products and services (Kiang and Shang, 2016). It has been noticed that use
of internet tools is common in the society that also boosts the opportunity for online marketing
strategy. In other words, Online marketing includes a wider range of marketing elements than
traditional business marketing due to the extra channels and marketing mechanisms available on
the Internet. It has been noticed that demographic segment customers like young age people are
more attracted towards use of social media. It means the company can focus on social media
tools in order to have effective promotion tools. Facebook and Twitter are two key measures that
allows to improve overall performance. It allows to have proper sharing of information.
MARKETING OBJECTIVES
 To increase brand awareness of ‘M&S’ in Indian retail market.
 To capture 5% of the rental industry in new market by the end of year 2017 through use
of social media marketing.
 To improve customer base for advancement in profit margin ratio by 20 percent.
CONTROLS AND CONTINGENCIES
It is significant for business firm to have accurate control over management activities so
that issues can be overcome in appropriate manner. Effective monitoring of marketing plan is
also necessary because it allows to meet key goals and objectives in desired way. In this, diverse
benchmarks are being designed so that marketing plan objectives can be accomplished in desired
way. Effectiveness of plan will also be calculated on the basis of sales and further statistical tools
so that issues can be overcome (Mason, 2007). In order to have better control over online
marketing the measures in respect to digitalization need to be consider in appropriate manner.
Continuous monitoring is essential so different team can also be designed who will make sure
about online marketing. It is also significant to focus on financial statement evaluation so that
control activities can be designed in appropriate manner (Gurau, 2016). If financial values are
not accurate then implementation of activities can not be taken into account. In addition to this, it
can be said that business firm may focus on 360 degree feedback. It will allow to gather
information about the process in appropriate manner and evaluate effectiveness of application. In
this, employees can provide feedback to management so that improvements can be taken into
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account. Along with this, use of online survey mediums is also beneficial for business firm. It
assists in meeting key goals and objectives and lead business to impressive level of success. Feed
option must be available on social media page so that customer can provide response. It will
allow to improve the control over activities and lead business to sustainable development.
MARKETING MIX
 Product: In order to have better targeting and positioning the company will carry on
activities with its existing product line. In this, different kinds of clothing are being
offered to customers. School uniforms and other kids wear will be offered to children.
Formal will be available in market for young age people. Along with this, woollen cloths
will be available for old age people (Yan, 2009). Company may focus on long term goals
and introduce new product in market. Key features of new product is that it will consist
of fashionable trend. It means the product and services that represent key trend of fashion
world will be key aspect. New features like innovative hand work on dresses and etc will
also be beneficial to attract more customers. Ladies cloths will have hand work that will
attract more customers. Company will also focus on unique combination of colour in
clothing so that innovative casual clothing can be offered in Indian market.
 Price: Company will offer its wide range of products at economical prices because it suits
existing pricing policy. Along with this, it is also suitable according to needs and
perception of customers. Indian people are more attracted towards low cost products and
services so selected policy is appropriate for business (Ivy, 2008). Company can follow
this strategy for long term and short term both it is according to customer needs. It will
lead business to impressive level of success.
 Place: Organisation will have effective distribution of products and services by opening
their own stores at prime locations in metros. In initial level the stores will only be
opened at metro cities like Delhi, Mumbai, Bangalore. Along with this, distribution can
also be according to online portal standards das it helps in attracting more employees
(Jones and et. Al., 2008). Moreover, in order to meet long term goals the management
may focus on opening of stores in small cities as well. It will help in improving market
share and lead business firm to impressive level of success.
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 Promotion: Different communication tools will be used to have better promotion of
services. Celebrity endorsement is one of key aspect that must be considered by
management for better opportunities in the market. Newspaper and web marketing tools
will also be accessed to meet key goals and objectives. Innovative campaigns and events
can be used for long term goals and improve overall performance. Online tools like
facebook, twitter and other mediums can be used by management in order to have
effective promotion of new product. Using online marketing various benefits can be
attained by business firm. Wide range of customers can be target in less time that
provides high potential of growth (Grossnickle and Raskin, 2016). Cost of advertising is
also low that allows business firm to promote product effectively at low cost and improve
profit margin ratio. Communication standards can also be improved by having
appropriate use of online marketing. It is also beneficial to improve the customer service
and lead business to impressive level of success. New tweet can be presented in respect to
the customer service. Product innovation can also be shared by having use of facebook,
YouTube and Twitter. It will assist in building better brand image so that sales can be
improved in optimistic manner.
ACTION PLAN
Promotional Activity Objectives Timing of the
activity
Person responsible
Advertising To advance the
market share and
enhance brand image
Activities must be
taken in account
during peak hours
Advertising agency
Telemarketing To improve
customer base
for
advancement
in profit
margin ratio.
Non-peak hours will
be considered because
it helps in
telemarketing
Telemarketers
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Facebook To capture 5%
of the rental
industry in
new market by
the end of year
2017 through
use of social
media
marketing.
Activities will be
taken into account
during the peak hours
when traffic on
facebook is high.
Advertising agency
Twitter To increase
brand
awareness of
‘M&S’ in
Indian retail
market.
Activities will be
taken into account
during the peak hours
when traffic on twitter
is high.
Advertising agency
Web advertising To improve
customer base
for
advancement
in profit
margin ratio
by 20 percent.
Activities must be
taken in account
during peak hours
Advertising agency
MARKETING BUDGET
Activity Time Duration Total Cost
Radio Advertising One year $5000
Magazine advertising 2 months of starting $3000
Newspapers 6 Months $4000
Google Advertising 1 year $600
Email Marketing 6 Months at end of year $120
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Targeted Redirected
Web Users
1 year $5000
Web Advertising 1 year $3588
100 Direct Mail
Postcards
2 months $420
Website Design One Time $8000
Total $29728
SKILLS REQUIRED
It has been noticed that there is wide range of skills that are required by professionals in
order to have effective accomplishment of marketing activities. Leadership is a key tool that
allows to manage overall marketing team so that they can feel motivated and feel attracted
towards organisation. It improves the satisfaction level among members and lead business firm
to impressive level of success. Observation and needs identification skill is also significant
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because it helps in meeting key goals and objectives. With an assistance of this, business firm
can have better identification of customer needs so that strategies can also be designed
effectively. Proper knowledge about market conditions and marketing tactics is also significant.
It means management need to ensure about it in appropriate manner in order to lead business
towards impressive level of success. In addition to this, it can be said that company also need to
make sure that manager is having accurate information in regard to online marketing. If
individual does not have appropriate knowledge about online tools then activities can not be
accomplished in desired way. Along with this, use of facebook and twitter is critical so manager
must have knowledge about. Content writing and editing is also a critical aspect of online
marketing so management need to ensure about it in appropriate manner.
RECOMMENDATION
In order to have better opportunities in the market, it can be recommended that business
firm may focus on key principles of online marketing. With an assistance of this, business firm
can easily make sure that application of online marketing tools is appropriate in order to meet
goals and objectives. Along with this, company can also provide training to its employees in
order to improve the skills in regard to online marketing. It will also boost the business
opportunities for business firm.
CONCLUSION
As per above study, it can be concluded that marketing plan is considered as most
significant aspect that allows to meet key goals and objectives. Improved focus on segmentation,
targeting and positioning is also necessary for organisation to consider. In order to have better
opportunities in new market management may focus on demographic characteristics and
segmentation.
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