Contemporary Analysis of Marketing Strategies

This assignment provides a detailed analysis of Marks and Spencer's (M&S) marketing strategies in response to the COVID-19 pandemic and the Brexit crisis. The report recommends using various channels of promotion to increase awareness among customers about discount pricing strategies. Additionally, it suggests providing training and development classes for employees to help them deal with challenging situations effectively. The report also proposes opening online outlets to sell food products at reasonable prices. It aims to support M&S in its efforts to adapt to the changing market environment and remain competitive.

Contemporary Analysis

Table of Contents
EXECUTIVE SUMMARY ............................................................................................................1
INTRODUCTION ..........................................................................................................................1
AIM..................................................................................................................................................1
DISCUSSION .................................................................................................................................2
CONCLUSION ...............................................................................................................................5
RECOMMENDATIONS ................................................................................................................5
REFERENCES ...............................................................................................................................6
.........................................................................................................................................................6

EXECUTIVE SUMMARY
Main purpose of conducting this report is to analysing the impact of three strategic
influence on business operation and strategy of Marks & Spencer. Three strategic influence
which is faced by company such as increasing demand of healthy and organic food products,
increasing online outlets and impact of Brexit. All these are major influence that effect on
business sales and profitability (Abdel and et. al., 2014). In order to address all these influence,
company decide to adopt discount pricing strategy in which they set low price of their products.
It will highly essential for future development and success of organisation because with the help
of such strategy they easily target large number of customer's. Further, to overcome such type of
influence company also applied business model canvas and business model innovation. Both are
useful and valuable model for the M&S to easily overcome circumstances and achieve better
results within predetermined time duration. As per the conclusion and recommendation,
company achieved their aim as to identify strategic influence and its impact on business. Along
with this, company should used promotional channels to promote such type of strategy to the
customers, it is a recommendation to the company.
INTRODUCTION
Strategic management is refer as the management of an enterprise's resources to
accomplish its objectives and goals. It involves setting objectives, analysing competitive
environment, evaluating strategy, analysing internal organisation and ensuring that
administration roles out the strategy across the business. An effective strategic management is
planned to proactively respond to modification in market tastes, technology and external
environment (Yafi and et. al., 2014). A contemporary knowing of the dynamic factors shaping
strategic choices is important for the execution and delivery of strategy in successful manner.
Main purpose of conducting this report is to identifying the three strategic effect that together
influence on the outcomes of a company. In this report chosen organisation is Marks and
Spencer which is a major British multinational retailer Westminster, London. This report
includes 3 strategic influence, practices of strategy, Strategic course of action and statement of
strategic goals.
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AIM
“The aim of this project is identifying the three strategic influence that together effect on
the outcomes of Marks & Spencer”.
DISCUSSION
It is identify as a main part of this report which includes information about the analysis of
three key strategic influence and its effect on business strategy and policies in a direct manner.
This part is divided into some points which are determined as under:
Three strategic influence: Three separate strategic influences that together effect on the
outcomes of a M&S. These influence factor may be related with the national, international or
local, but they must show a changing or evolving story. For example: Brexit, Increasing online
outlets and maximise demand of organic and healthy food. All these are together impact on
strategy or policies of M&S in a direct manner (Grant, 2016).
Brexit: It means British exit from the European Union that impact on each and every
business and its operations. After Brexit, large number of person are loss their jobs so they are
only purchase necessary products and services which highly effect on business. In this company
decide to decrease price of their food products, clothes and many other. It will help an
organisation to maintain long run sustainability and customer's trust.
Maximisation in Online outlets: It is second strategic influence that impact on company
and its performance in a negative or positive manner. In today's, people has less time so they
prefer to buy products or service through online. It will negatively impact on profitability and
sales of M&S. So in order to overcome this, business decide to reduce their product price and
increase quality which is beneficial for future growth and success of company. It also has
positive impact for example: M&S provide their food products approx £120 whether online
shops give food at cost of £120. Due to this, people are prefer to go in shop and purchase them
because where they are touch such type of products which is one of the main advantages. In this
M&S develop discount pricing strategy and provide products or services at reasonable price as
compare to online shops (Hayanga and et. al., 2015).
Increase demand of organic and healthy food: Today's people are more health
conscious and they want to purchase organic and health food. But such type of food product are
more costly as compare to other products. So in order to attract large number of customers and
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increase their sales company should try to decrease price of organic food. Thus, it will be more
essential and beneficial for the development and growth of company in future (Meloy, 2014).
Therefore all three strategic influence such as Brixit, different online shops and
increasing demand of organic and healthy food are equally impact on business performance,
strategy, profitability etc. It is prove with the help of example such as: After Brixit, rate of
unemployment are increase so in this people are only purchase necessary products. In different
countries, number of online shops are increase which highly effect on sales and profit of physical
outlets. Lastly, cost of organic and healthy food product is maximum as compare to other
products but, today's people are more conscious and they need to purchase only healthy food. All
these are mainly impact on pricing of the business product and effect on business sales and
profitability (Hayes and et. al., 2014). So in order to deal with this strategic influence, M&S
decide to adopt “Discount pricing strategy”. Main aim behind selecting this pricing strategy is to
attract different number of customers and maximise sales and growth in future.
Practice of strategy Categorises: In order to overcome and deal with above three
strategic influence company should adopt discount pricing strategy. It is a type of pricing
strategy where company mark down their product price. Main goal of this strategy is to
maximise customer number, increase sales and clear old inventory from M&S. Main reason
behind adopting this pricing strategy is to address all three strategic effect in a systematic and
effective manner (Liederbach and et. al., 2015). Practices of strategy categorises all these factors
which are determined as under:
Impact of Brexit: In this, discount pricing strategy is more useful and valuable for the
those people who have lost their job in crisis of Brixit. This strategy help in providing products at
reasonable and affordable price to the people. Thus it highly effect on business operations and
growth of M&S in a direct way.
Increasing number of online outlets: Beside this, discount pricing strategy is useful to
those people who have to purchase product at physicals outlets. With the use of this strategy
M&S decrease price of their product which help in maximisation of customer's numbers and
achievement of better results with predetermined time period. It highly impact on sales and
profitability of M&S because people are desire to purchase quality product at reasonable price.
Thus. It will also help them to address their circumstances and accomplish long term goals and
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objectives in given time period. It positively influence on business operations and functions as
well as help in maximisation of customer's number in M&S.
Increasing demand of organic and healthy products: It is third strategic influence that
highly effect on M&S and its performance. In this, discount pricing strategy is more beneficial
for lower income level of people who has more health conscious and not purchase organic and
healthy products (Raghavan and et. al., 2015). Therefore company decide the decrease price of
organic products which externally impact on M&S profitability and sales. Thus, it will also
essential and significant for the organisation to deal with difficult situation in an easy and
systematic manner.
Strategic course of action: In order to identify strategic course of action, company use
business model canvas which is one of the important and essential aspect for overcoming above
mentioned such influence in a systematic and essential manner.
Business Model canvas: This model is refer as a key component of strategy formulation
in the knowing of how model of M&S is enable the business to assert its competitive benefits. In
this model value added transaction pass off to the input of production. It is a best tool that gives
high level outlines about how to address all issue which arise in the organisation and effects on
its productivity and profitability level.
Business model innovation: It is another and effective model in which M&S innovate in
their pricing strategy, business process and many other. Recently, M&S follow competitive
pricing strategy but in order to address above all these influence company change their strategy
and adopt discount pricing strategy. Thus it is more effective and essential for the company to
maintain loyalty and trust of customer's towards business products and services.
Both models are identify as a course of actions and help them in increasing positive
impact and reducing negative effect easily (Katsoulakis and et. al., 2014). For example: Discount
pricing strategy is more appropriate and valuable for the M&S because it will help them in
increasing customer base and reducing impact of three strategic influence in an better and
essential manner. Thus, maximisation of customer's number is show long term benefits and
advantages to the M&S because customers are one of the main part for the success and growth of
organisation for long term duration.
Strategic goals: M&S should set their strategic goals as to attract large number of
customer's through adopting of Discount pricing strategy. Company should try to increase their
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profit and sales by providing organic and healthy products to the health conscious people at
reasonable price. Therefore it will effect on future success and development of company in a
direct manner. M&S also try to provide information about discount pricing strategy at
marketplace, they use different promotional channels. It will help them in maximisation of
customer's number and also support in maintaining long run sustainability at global market
(Whitson and et. al., 2015).
Company also decide to competing online shoppers by adopting discount pricing
strategy. Thus, it will also essential and important for the company to accomplish their long term
goals and objectives within given time duration.
CONCLUSION
As per the above mentioned information, it can be concluded that Three strategic issue is
main part for the growth and development of company. These issues such as Brexit, Increasing
demand of organic and healthy products and different number of online outlets. All these are
main influence that impact on business performance and profitability. Beside this, company was
decide to address this circumstances by adopting discount pricing strategy. It is more useful and
essential for those people who purchase healthy products, low income level person and many
other. Thus, it is more essential and significant for the company to achieve better results and
maintain turnover of customers. Further, company also used two types of model such as business
model canvas and business model innovation. Both ate useful and valuable for reduced three
strategic influence as help in retaining long run sustainability at marketplace.
RECOMMENDATIONS
As per the above mentioned information, it can be recommended that Strategic influence
is major part which effect on profitability and performance of company. Strategic effects such as
maximising demand of organic and healthy food products, maximisation of online outlets and
impact of Brexit. To overcome this issue company recently used discount pricing strategy it is
effective and useful for addressing this problem in a systematic manner. But some
recommendation will be provided to the M&S which are determined as under:
 Company should used different channels of promotion to increase awareness among
customer's towards discount pricing strategy.
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 M&S should also used also provide training and development class to their employees so
that they are able to deal with all situation in an easy and systematic manner.
 M&S also try to provide job opportunities to those people who have loss their job during
the crisis of Brexit.
 Company should also open online outlets and provide food products at reasonable price.
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REFERENCES
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Yafi, F. A., and et. al., (2014, January). Is the performance of urinary cytology as high as
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