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Introduction to Marketing

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Added on  2020-10-22

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Introduction to Marketing 1 INTRODUCTION 2 MAIN BODY2 TASK 12 Overview of organisation and its market place2 Identification and analysis of marketing strategies implemented at M&S and Tesco 2 TASK 25 Creating a new idea to improve selected marketing approach 5 CONCLUSION AND RECOMMENDATIONS 7 REFERENCES 9 Appendix 10 INTRODUCTION Marketing is an essential activity which includes the selling of manufactured goods that will help in proper rise in company’s growth and development rate (Krishna and Schwarz, 2014). Also, proper innovative

Introduction to Marketing

   Added on 2020-10-22

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Table of ContentsTable of Contents...........................................................................................................................1INTRODUCTION...........................................................................................................................2MAIN BODY..................................................................................................................................2TASK 1............................................................................................................................................2Overview of organisation and its market place...........................................................................2Identification and analysis of marketing strategies implemented at M&S and Tesco................2TASK 2............................................................................................................................................5Creating a new idea to improve selected marketing approach....................................................5CONCLUSION AND RECOMMENDATIONS............................................................................7REFERENCES................................................................................................................................9Appendix........................................................................................................................................101
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INTRODUCTIONMarketing is an essential activity which includes the selling of manufactured goods thatwill help in proper rise in company’s growth and development rate (Krishna and Schwarz, 2014).For the present report, UK based retail enterprise, Marks and Spencer has been chosen. Thereport will analyse the marketing strategies and its competitors and reason behind choosing it.Also, proper innovative ideas related to improvement of its marketing strategy and approacheswill be recommended also covered in this reportMAIN BODYTASK 1Overview of organisation and its market placeMarks and Spencer, also known as M&S, is a UK based multinational retail enterprise,that expertise in clothing, household items and luxury food items. Besides this, it also sellsbranded foods. Headquartered at city of Westminster, London, it operates all over the world.This makes it susceptible to many marketplaces and environment. The firm is known to providelow cost but value for money products. At present, the firm has about 1,035 stores in UK with428 other stores in various nations around the world (Hair Jr. and Lukas, 2014). Thus, this causethe firm to have a wide variety of customer base and thus face a variation in the consumerdemands and operational activities that are been followed by cited retail entity. Currently, M&Sis one of the major market player in retail industry and has a good hold over its position at tradeplace.Besides this, the extensive planning and rise in capabilities help the organisation tosustain in difficult time. The fluctuations in production and marketing activities may cause theretail enterprise to alter its marketing strategies. This is required to be handled with proper careand consideration in order to meet the objectives set by the management of M&S (Glesne, 2015).Identification and analysis of marketing strategies implemented at M&S and TescoM&S and Tesco, both are major firms that operates in retail sector and have a goodconsumer base that assist to handle their demands and meet their requirements in a better way.Both the firms follows a specific marketing strategy that helps them to have a good connection2
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with their market and assist to have a good market share and thus will lead to increase inproductivity of the firm. Current State of Retail MarketIn the present scenario, the retail sector is facing a tremendous hike in competition withmany new entrants truing to penetrate and establish themselves within market. The establishedretail players like M&S and Tesco are facing stiff competition from the new emerging firms likeASDA and Sainsbury. This has created a stiff rivalry among these firms and has providedconsumers with more options to select within.Strategies followed by both the firmsThe major strategies that are followed by both the organisations are as follows:“One brand strategy” followed by M&S: Marks and Spencer follows the “One brand strategy”which allows the firm to sell out majority of its product from various portfolios under one brandname. This helps the firm to lay its focus upon the sales that takes place in the market(Alexandris and Kaplanidou, 2014). Besides this, collaboration with major food brands to sale their products at M&S storeshas been proved a major growth and popularity factor which has improved the performance ofthe company. It will also help through improvement of their marketing process that is followedby the organisation. 3
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