Critical Review of Marks and Spencer's Marketing Practices
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This critical review examines Marks and Spencer's marketing practices, including their application of the marketing process, reflection on current practices, and the use of omni channel marketing. Recommendations are provided based on the review.
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CRITICAL REVIEW
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Contents INTRODUCTION...........................................................................................................................3 MAIN BODY..................................................................................................................................3 Application of marketing process by M&S.................................................................................3 Reflection on current marketing practices...................................................................................4 Omni channel marketing, theories and models used by M&S....................................................5 Recommendation based on review of article...............................................................................6 CONCLUSION................................................................................................................................7 REFERENCES................................................................................................................................8
INTRODUCTION Critical review can be defined as the summarization and evaluation of ideas and information that has been personated in article. It means thinking carefully and also analysing the strength and weakness that has been given in article. Present report will lay emphasis on Marks and Spencer. It is major British multinational store which has been headquartered in London. Company is specialised in selling high quality clothing, food products and home appliances. Assignment will lay emphasis on M&S applying the marketing process in trade journal article. It will also explain how this article reflects marketing practices. It will also explain the marketing theories and models which has been used by M&S. Report will provide recommendation on review and practices followed by company. MAIN BODY Application of marketing process by M&S Mission:Marks and Spencer has set their mission to provide high quality of food product through campaigning. Marketing process can be defined as that way which has been used by company in order to create value for the products and services supplied by them. In this firm is engaged in analysing the situation, gathering resources, formulate the strategies and make better decisions in order to achieve their ultimate goals and objectives.They areclear that we needed to protect the things that make M&S Food special: industry-leading quality, exceptional sourcing and famous innovation Analyzing industry positioning: It has been analysed from the article that Marks and Spencer is bringing back its much loved food brand. As Marks and Spencer is Britain’s largest retail store to grab consumers they are making use of an appropriate marketing strategy. Like for example in order to increase the liking of their food products they have targeted a specific range of consumers (Tuten and Solomon, 2017). Firm is laying emphasis on going less premium and targeting young adults and families. They are trying to increase the liking of their products in this segment. They are making use of competitive positioning strategy where they are working on providing high quality of food than their competitors and that too on low price. Marketing tactics: They are making sure that company offers a powerful and wide variety in food segment. It has been analysed from the article that Marks and Spencer is making use of collaborative customer relationship like they have created the advertisement to show case quality and value of products in a authentic way so that food sales continues. Also it has been analysed
that Marks and Spencer is engaged in analysing the taste and preferences of consumers and providing them food products according to it. This can assist them in growing and making their food campaign a success. They will also be able to increase their revenue and sales through this aspect. Marks and Spencer is also making use of social media channels where they are going live and asking consumers to join and give their recommendations. This will support them in encouraging consumers and helping them in creating large amount of consumer base. It will support firm in achieving their goals and objectives (Shaw, 2016). Reflection on current marketing practices There are various marketing practices that has been followed by Marks and Spencer in order to increase the liking of their food porn campaign. From the article it can be reviewed that company has made use of digital technology such as marketing through social media channels. This can support firm in gaining competitive advantage. Company is been focusing on easing on site investigation so that they can avail benefit of improved delivery proposition (Deepak and Jeyakumar, 2019). It has also been analysed that Marks and Spencer has made use of other marketing practice like they have announced sponsorship of Britain’s got talent so that consumer can re-evaluate the M&S food offer. By engaging with the huge brand the company will get benefits of this top TV show. All the fans of Britain’s got talent can like to explore the offers given by Marks and Spencer. Segmentation:It hasbeenanalysed thatMarksand Spencerhassegmentatedtheir consumers on demographic basis. This marketing practice by organization can boost up their sales. But there are also some points which need to be considered. Targeting: They have thought of going fewer premiums and targeting more family oriented audience. It will also help them in creating a huge customer base. This is really cost effective strategy which can assist company in reaching out their objectives. Connecting with other brand name can put company in high pressure like for example now they have to be engaged in providing high quality of product according to the taste and preferences of consumers. Positioning: They have been making use of cost positioning strategy. It is really necessary for them in order to increase liking of their food campaign.In order to deliver the better and personalised experience the marketing practice which has been used by Marks and Spencer is to by creating a spark loyalty program so that they can create a unified customer data.
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They are also engaged in investing in data analytics and digital capabilities to create customer data lakes and consumer insights. All these aspects is really necessary for company in order to increase their sales and revenue aspects. Thus, supporting them in gaining competitive advantage. It is really necessary for firm to focus on value which has been provided by their food products (Keegan, 2017). Embrace customer and store data as a decision pivot, instead of gut, consensus, or hierarchy as decision drivers. If all these aspects are not followed by Marks and Spencer they will be unable to engage consumers in their company which can directly affect profitability aspects of firm. They will not be able to make their food campaign a success. The food centric advertisement is basically being used to increase the focus on young adults and families so that the food provided by Marks and Spencer is brought back to their life. These type of creative marketing practices can assist firm in growing and making this campaign a huge success (Rowley, 2016). Product:The main aim of the company is to increase the sales of their food product by re- launching its food campaign (Kotler and et.al., 2017).Firm has implementated the strategies like they will be stepping into the lives of customers in the moments where they are day dreaming about the food. Price:Marks and Spencer has laid emphasis on following the skimming pricing strategy. They are making sure that there food product is being affordable by mainly young adults and family members this will support them in reaching out the large range of consumers. Promotion:It has been analysed while promoting through social media channels like Facebook and Instagram, company needs to make sure that they are engaged in following the ethical codes of practices. Place:The campaign will take place in London and will lay major focus on keeping up the food porn moment alive in the mind of the target audience. The company has laid emphasis on the food safety and quality so that they can engage consumer and encourage them to buy their products. Omni channel marketing, theories and models used by M&S Article has provided the details that Marks and Spencer is bringing back their food brand. In order to increase the liking of their food products company is making use of various marketing practices in order to increase the sale of their quality goods. It has been analysed that firm is re-
launching its program after 12 years. They are now going after less premium and more family oriented audience. The campaign created by Marks and Spencer will capture the food porn moments in order to increase the liking of their product by consumers. This will assist them in enhancing their public image. In order to grow company is engaged in making use of Framework such as marketing mix. They are fully involved in lay emphasis on the major four aspects like They are making sure to analyse the taste and preferences of consumers in order to increase the liking of their food products. This will support them in enhancing their sales and revenue. It has also been analysed from the article that Marks and Spencer is making use of various marketing strategies like launching the advertisement of food product on Social media websites.If not followed than Marks and Spencer reputation can be hampered. Other marketing practices followed by company are launching their campaign on Television. In this they have reintroduce the strap line and also appointed celebrities to endorse individual products such as hot cross buns. From the article it has also been analysed that Marks and Spencer has now split its ad business.The campaign launched by company is a different from the basic food-centric advertisement. In this social media has played an increasingly important role as it looks to attract a younger audience and combat falling sales (Clow, 2016). Omni channel marketing: In this, Marks and Spencer in order to gain success of their food campaign is engaged in making use of various channels like social media marketing, Television, radio and print media. They have launched their advertisement which featured celebrity that will support them in increasing the sales of food products. This will also help them in making a positive image in the mind of consumers. Marks and Spencer has also launched their campaign on Instagram. Media buying can assist firm in analysing consumer mindset and shopping behaviour (Chaffey and Ellis-Chadwick, 2019). Company is engaged in focusing on single products such as ice-cream and big buns. They are involved in shopping them that how retailers can become a huge part in their family meal time. They are also looking at new store marketing in order to attract more consumers towards their business. This will help them in making their food campaign a huge success. But all these channels also have some disadvantages like advertising with the help of celebrity endorsement can increase the expenses and cost aspect of firm. So proper planning and strategies needs to be made by Marks and Spencer so that they will be able to gain competitive advantage. Company is
also engaged in promoting through playing background music while showing the advertisement in order to attract consumers (Felix,Rauschnabel and Hinsch, 2017). Recommendation based on review of article It can be identified from the article that Marks and Spencer has made use of various marketing strategies to make their food campaigning a success. It has been recommended to the company that they are only focusing on day dreaming aspects of consumers rather than providing the features of food. So it is suggested that M&S needs to work on these aspects. They must be involved in providing the attributes of their food products. This will support them in increasing the liking of product.Marks and Spencer can also engaged in targeting the other segment of consumers so that their profitability also increases. It will help them in making the campaign a success. It is also been recommended to organization that while promoting the goods through social media, they must be engaged in taking feedback from consumers, so Marks and Spencer will be able to analyse the gaps in their services and will be able to work upon it. This aspect will support company in increasing their productivity as well as efficiency (Bowie and et.al., 2016). It will help them in growing and achieving their ultimate goals and objectives. It has been analysed that company can also develop their food app in order to engage more consumers in their services. It is also suggested that company needs to work on providing value to customers. This can support them in creating consumer loyalty. CONCLUSION From the above study it has been analyzed that company has been making use of various marketing practices in order to grow.They have been also engaged in investing in data analytics and digital capabilities to create customer data lakes and consumer insights. All these aspects has really helped company in increasing their sales and revenue aspects. It has also been analysed that firm has made use of advertisement, print media and social media marketing to reach out the large range of consumers. This has assisted them in attracting and engaging customers so that there sales and revenue increases. They have been making use of high quality of raw materials so that they can provide better food products.
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REFERENCES Books and Journals Chaffey, D. and Ellis-Chadwick, F., 2019.Digital marketing. Pearson UK. Kotler, P. and et.al., 2017. Marketing for hospitality and tourism. Keegan, W.J., 2017.Global marketing management. Pearson India. Deepak, R.K.A. and Jeyakumar, S., 2019.Marketing management. Educreation Publishing. Tuten, T.L. and Solomon, M.R., 2017.Social media marketing. Sage. De Mooij, M., 2018.Global marketing and advertising: Understanding cultural paradoxes. SAGE Publications Limited. Shaw, S., 2016.Airline marketing and management. Routledge. Bowie, D. and et.al., 2016.Hospitality marketing. Taylor & Francis. Rowley, J., 2016.Information marketing. Routledge. Clow, K.E., 2016.Integrated advertising, promotion, and marketing communications. Pearson Education India. Felix, R., Rauschnabel, P.A. and Hinsch, C., 2017. Elements of strategic social media marketing: A holistic framework.Journal of Business Research.70.pp.118-126. McDonald, M. and Wilson, H., 2016.Marketing Plans: How to prepare them, how to profit from them. John Wiley & Sons.