Marketing Plan for Marks and Spencer

This marketing plan outlines the external environment of the fashion and retail industry in which Marks and Spencer operates, with a focus on its clothing lines. It also discusses the marketing mix (4P's) used by the company.

Assessment
(Marketing Plan)
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Company Overview................................................................................................................3
Environmental Analysis.........................................................................................................3
Marketing Mix (4P’s).............................................................................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6
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INTRODUCTION
Marketing a fundamental activity or practice which organisations undertake in order to spread
awareness and be interactive with the external public and most importantly with the targeted
audiences (Chernev, 2020). With the help of marketing function companies potentially promote
their offerings in the external environment and keep people attracted as well as informed about
any new developments taking place. The current report who is a marketing plan for Marks and
Spencer a British retail organisation which is a market leader offering quality and value-adding
stocks as well as services to millions of customers around the world. Marks and Spencer is
headquartered in in United Kingdom and the marketing plan is acknowledging its clothing line.
MAIN BODY
Company Overview
Marks and Spencer group PLC which is abbreviated M&S is it one of the major British
multinational retailers. The company was founded in 1884 by Michael Marx and Thomas
Spence. Since then Marks and Spencer is headquartered in England, UK, but have definitely
enhanced its scope by moving internationally and serving to around 57 countries with their 1400
stores across the world and with 50 international websites. The company offers different types of
products and services within which great value food, clothing, homeware, financial services and
energy services are involved. A marketing plan is a summarised blueprint that offers and
direction to the team and the management for conducting the respective activities in a prescribed
manner which is determined after thorough evaluation. The current marketing plan outlines the
external environment of fashion and Retail industry in which Marks and Spencer is dealing with
its clothing lines. Along with it a marketing mix is presented as well which is overviewing four
major aspects of a product and of marketing.
Environmental Analysis
PESTLE analysis is a measure and a very helpful tool which is used by marketers for gaining
insightful understanding the market in which company is operating (Hollensen, 2019). Enable
marketers in understanding the external environment of business and conduct market research
effectively.
 Political- Marks and Spencer is an international brand which is operating in around seven
countries of the world and that expose it to multiple political environments. Therefore
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Marks and Spencer who is a flexible business model to incorporate which different
functional units in in different locations on the globe.
 Economic- The company is recorded in United Kingdom which is known to be the
country with the most stable economy for businesses to run their operations. Currently
the economy of UK uncertain risks due to recently executed Brexit deal which have
brought an uncertain influence over the businesses including Marks and Spencer.
 Social- The fashion industry is evolving and popular for its uncertain and most dynamic
nature due to faster changing social friends and customer preferences. Thus, Marks and
Spencer make sure to stand ahead of expectations of its target audience and potential
buyers by offering them best quality in which designed clothes manufactured in number
of factories (Fomina, 2020).
 Technological- In past years technology have given a revolutionary turnaround to
different factors of business and professional world including the retail as well as fashion
industry. Marks and Spencer is technologies and Lee company which is reflected through
its marketing and promotional techniques where it make effective use of digital tools and
media.
 Legal- The legal factor is more concerned with specific laws and regulations which
Marks and Spencer has to follow while doing business in domestic and international
markets in order to be safe from any undue charges or lawsuits.
 Environmental- In concern with the fast deteriorating condition of atmosphere and
environment around the globe CSR have become a major part of organisations
functioning and operating. For the same marks and Spencer have also taken required
initiatives by introducing recyclable clothes and offerings.
Marketing Mix (4P’s)
Marketing mix is a basic tool that marketers use in case of looking over all the minute and major
aspects a particular offering making effective presence in the market. The marketing mix of
Marks and Spencer for its clothing lines is as follows:
 Product- The offering off Marks and Spencer is diverse but in regards with its clothing
lines the company offers best quality and most fashionable clothes for women, men, girls,
boys and new born babies.
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 Price- The pricing strategy which marks in sensor adopt is of competitive nature that is
for being competitive in the industry company set its prices by making comparison with
other competitors existing in the market place and aggressively operating. Competitive
pricing strategy is suitable for its target audience as it keeps their interest in the brand
high and increasing (Grabeel and et. al., 2019).
 Place- The distribution channel that Marks and Spencer used for making sales and
reaching to the end customers are physical stores and online stores. The company has
around 1400 stores in 57 countries and fifty online web pages or web size through which
it receives orders and deliver products to customers from their respective manufacturing
factories.
 Promotion- The major promotional channels that Marks and Spencer uses is billboards
and digital media. The company makes use of traditional marketing Idea that is billboards
to attract customers attention and showcase their new designs. A non traditional
technique of marketing is using digital platforms and social media. Marks and Spencer is
very active and aggressive on social media where it promotes all the new offerings
through showcasing its new clothing collection on its official accounts (Han and et. al.,
2019).
CONCLUSION
The report concludes and acknowledges the major influence of marketing over company’s sales
and brand awareness. Marketing is a potential tool that enables and entity to develop effective
presence in market and attract largest possible customer base. The marketing plan includes
marketing mix and external environment analysis which are the two major rose a marketers and a
marketing team of an entity performs.
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REFERENCES
Books and Journals
Chernev, A., 2020. The marketing plan handbook. Cerebellum Press.
Fomina, N., 2020. Digital Marketing Plan. Case Company.
Grabeel, K. L. and et. al., 2019. How One Library's Health Information Center Expanded Its
Marketing Plan. Medical reference services quarterly. 38(3). pp.218-227.
Han, Y. and et. al., 2019. Robust consensus models based on minimum cost with an application
to marketing plan. Journal of Intelligent & Fuzzy Systems. 37(4). pp.5655-5668.
Hollensen, S., 2019. Marketing management: A relationship approach. Pearson Education.
Online:
M&S, 2020. [Online] Available Through: https://corporate.marksandspencer.com/home/
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