Digital Marketing Strategy for Marks and Spencer: Situational Analysis and Action Plan
Verified
Added on 2023/06/13
|20
|5301
|94
AI Summary
This report provides a digital marketing strategy for Marks and Spencer, including a situational analysis and action plan. It covers PESTLE analysis, Porter's Five Forces, SWOT analysis, segmentation, targeting, and positioning, marketing mix, budget allocation, and action plan.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Project (Presentation)
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Contents Contents...........................................................................................................................................2 INTRODUCTION...........................................................................................................................3 PART 1............................................................................................................................................3 Critically Assess the company’s current online presence (situational analysis) and Develop a digital marketing strategy (with objectives, tactics, actions and controls) :................................3 PART 2..........................................................................................................................................11 Marketing plan...........................................................................................................................11 Discussion of SEO and Keyword techniques.........................................................................12 Discussion of basic principles of Google Analytics and other analytical tools...................13 Reflection (following Gibb’s Reflective Cycle)......................................................................14 THE BLOG....................................................................................................................................15 REFERENCES..............................................................................................................................15 Online References..........................................................................................................................16 APPENDIX....................................................................................................................................17
INTRODUCTION Any marketing which utilises several electronic devices and it can also be utilsied through marketing experts in order to convey various promotional content and evaluate its effect by the journey of the consumers. In this, digital marketing basically means to the marketing campaigns which is there on the desktop, tablet, phone or any other device. In addition to it, this can be of various forms, involving display ads, marketing through search engine, online videos, social media platforms(Biroscak,and et.al., 2018). Moreover to it, digital marketing is mainly sin comparison to the old school marketing technique like, billboards, magazine ads and direct mail. The following report is based on the company Marks and Spencer, which is multinational British organisation that specialises in selling retail merchandise which includes home products, clothing goods, and food items in the market area of England. Further more, the report will also be covering about the the company’s current online presence (situational analysis) as well as a digital marketing strategy (with objectives, tactics, actions and controls). It will also involve several frameworks in order to evaluate the competitiveness of the company. PART 1 Critically Assess the company’s current online presence (situational analysis) and Develop a digital marketing strategy (with objectives, tactics, actions and controls) : Executive Summary –Marks and Spencer group Plc is the main international retailing company and also organisation is having their headquarter in London, United Kingdom. M&S was founded by Michael Marks and Thomas Spencer in the year 1884 and now organisation is having more than 950 outlets in whole United Kingdom. The plan of marketing is made for the organisation Marks and Spencer in order to make the expand their operations in different parts of the country. In addition to it, the firm desires to increase their sales with the help of several digital media platforms in order to make them provide their offerings to their existing consumers as well as to their potential base of customers in the market area(Brown, and Crosno, 2019). As this can assist the firm in increasing their sales revenue which will help them in increasing their profitability and it will lead to their long term sustainability and growth in the market. Objectives The main objectives of the firm Marks and Spencer is scaling their operations in different parts of the country and these objectives are mentioned below briefly:
To acquiring the market share with 40% in upcoming year. To gain revenue of 50% in upcoming 9 months. To increase sales by 40% in next 8 months. PESTLE Analysis: PESTLE is a business tool which giver a over all view of the whole environment from many different angles that one wants to check and keep record while contemplating a certain idea or plan. POLITICAL Factor-Factor in which government may influence the economy or a industry. Political factor includes tax policies, fiscal,trade and many more. In case of the company Marks and Spencer, management can utilize the benefits of the large EU where product travel freely across various countries. In addition to it, two main components effecting the organisation are political stability as well as taxes(Campo Escobar, 2020). If authorities enhances rates of taxes then later raises the rates of merchandise of M&S which have negative impact on sales of its product as well as on their long term growth and success. ECONOMICFactor-Thiselementreferstowhichinfluenceaneconomical performance that directly impact as company and it includes the inflation rate, foreign exchange rate economic growth and etc.Number of consumers in the England is preferred local store instead of the products of Marks and Spencer. Stores that are budget friendly are directly threat to target market of the respective organisation which can lead to negative impact on the long term sustainability of the company. SOCIAL Factor –It refers to the elementwhich determine the social environment of the market like cultural trend, demographic, population analyse and many more. In relation to the Marks and Spencer, management wanted to scale their business in accordance to accomplish the dynamic needs and trends in the sector(Gerena Cruz, and et.al., 2021). As the organisation is getting major competition from small retailers also. TECHNOLOGICAL Factor-These factor are also known as innovation in technology that may effect the operation of the company. This refers to the automation, research, and development and the amount technological awareness. In accordance to the company Marks and Spencer, outlets are modifying and adapting the new technologies within the market and has also introduced multiple self checkout stores and plan to modification the
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
usage of all based checkout in the near future. New technology may help the brand make a stronger presence. LEGAL Factor- Factor have both external and internal sides. Legal-factor consists consumer laws, safety standards, labour laws and etc. Legal analysis takes into account both of these angles and then charts out the strategies in light of these legislations. For example, consumer laws, safety standards, labour laws. In case of the company, M&S were eventually convicted two charges one is based on health and safety at work act 1974 in order to take measures(Gundala, Singh, and Cochran, 2018). These convicts holds and affect the brand image and this is something that a business strategy will not be able to elevate ENVIRONMENT Factor-Includes all those that influence or determined by the surrounding environment certain industries particularly like tourism,farming,agriculture etc. In context to M&S promote themselves as a luxury brand, due to this they are highly concerned about the environmental effect that leaves the brand behind. Porter's Five Forces:Supplier's Bargaining Power-In relation to the Marks and Spencer, suppliers would not relish their power in which they will not force the business for maximising their fewer evaluated. As the business have various amount of supplier to offers them effective raw material and facilities.Buyer's Bargaining power–In context to the Marks and Spencer, there are higher term of options that are same goods of diverse brands for customers in fashion retail sector to purchase by which it offers consumers an immense power due to which they can purchase from other business.Competitive Rivalry–Marks and Spencer functions in an effective competitive fashion retail sector in which product segmentation present that is not effective for business for longer term of profitability(Išoraitė,2020). To overcome this component, management can coordinate with their challengers to enlarge the global market structure or by creating more sustainable and inexpensive goods then their challengers.Threat of New Entrants-In relation to the Marks and Spencer, new entrants that can be a threat in which fashion sector as individual can effectively shift from one brand to other in search of same goods that they want.
Threat of substitute products–In context to the Marks and Spencer, substitute goods can be a threat in fashion sector as individual can effectively switch from one brand to other in search of same goods that they need(Siskind, 2018). SWOT analysis: Strengths Goodwill and brand reputation of the company is one of their major strength whichassistthemtogainingmore consumer base one with the helps of the brand name. MarksandSpencerhasthebrawny leadership which has helped them to attainmoresuccessinthemarket globally. Marketing of the Marks and Spencer is one of their strengths and company is majorly focusing on advertising their goodsonthedifferentsocialmedia platform. Weakness Severallegalallegationwhichthe organization has faced in recent years hasleadtonegativeimpactofthe company's goodwill which can effect thelongtermsustainabilityinthe market area. Organization is majorly influenced by the British culture and because of this companyalwayslacksincopingup with the new trends and dynamic needs of the consumers. Threats The other organizations that are selling similar goods in the same market can act as the threat to the company. As there are several low budgeted products whichothercompaniesareselling globally. COVID 19 can act as the threat to the company as due to the pandemic, it has impacted the profitability of the firm Opportunities Companycanincreasetheirmarket sharetomiddleeastrichnationsin order to increase their brand value as wellassalesrevenueinthemarket share. Marks and Spencer, can utilities several strategiesandalsoadaptsvarious technologicaladvancementintheir operations in order to minimize their
drastically.manunalworkwhichwilleventually lead to low chances of errors and also theattainmentofthegoalsand objectives effectively and efficiently. Segmentation, Targeting and Positioning: Segmentation –The respective organisation Marks and Spencer, has segmented its operative market in accordance to their consumer base as well as their offerings that are categorised in luxury and top quality midscale. Company is concentrated on offering services and products to their premium and rich consumers globally. Targeting –The target consumers for the Marks and Spencer are the elite rich conusmer that are more ready to pay for the expensive products and premium products which are offered by the company. The firm aims to target several above middle class people for their goods.Positioning –The organisation has positioned themselves with the premium goods and services (Kieu, and Mogaji, 2018). It focus to offer top quality goods to their consumers and it company does not compromise to the low quality which can impact their brand value. Marketing mix The 7Ps of the marketing mix of Marks and Spencer are mentioned below briefly :- Product –The firm majorly focused in selling food items, home products and clothing merchandise to their premium consumer base. Company is working on selling several customized cloth to the people and firm also does not compromise with their quality in order to maintain their goodwill in the market area. Price –Company possess its own house brands for clothing of men, kids and men. Commonly such products in house brand are majorly priced among the medium to higher division due to its higher quality. Still marks and Spencer, is following the competitive strategy of pricing in order to make them choose from due to the enhanced rivalry. M&S also encounters rivalry from several small online retailers as well as other big giants in same industry.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Place-M&S is the global company that has more than 900 outlets functioning in around 52 nations. In addition to it, main company is in the England in which the organisation has around more than 850 outlets. Also company has expanded its business to the other parts in the world. Marks and Spencer, also offers a choice for global delivery for their limited goods. Promotion –Management of M&S opts its marketing techniques appropriately in order to aligns its marketing programs with the digital marketing and in the outlets techniques (Tafesse, and Wien,2018). In addition to it, Marks and Spencer shows to offer a appropriate content on every mode of interaction. In addition to it, M&S utilities the TV ads, print media and other campaigns which are done on social media. The firm utilities their website in order to market their brand, products. People –Marks and Spencer has hired more than 70000 employees in their stores in over 50 nations. The firm specially focuses on paying appropriate attention to the workers. The firm is following a policy of competitive paymet in order to retain and engage their workers. Apart from this, the basic pay the firm compensate their workers based on their working in order to enhance the performance of individual. Process –Stores of the Marks and Spencer can be easly found in urban area, malls, premium places. Outlets of the company are more appropriately organised in comparison to the other outlets. Their stores are separated into several floors that assist in separating their section for all different category of products which are offered by the company. Physical evidence –Company has various stores in over 50 nation around the globe. Management of M&S is focused in the market area of United Kingdom in which the firm has almost 800 outlets. Few of the other nations in which company has got their existence are Spain, Turkey, Finland and many more. All the outlets of the compant acts as their physical evidence. Budget Allocation ParticularsAmount (£) Marketing10000 Promotional activity20000 Plant and machinery120000
Print media7000 Total148000 Action plan ObjectivesStrategyTacticsControland measure Time period To holding the market share with 40% in furthermore year. Itmightbe accomplishedby creatingsuch marketingtactics thathavean impactonthe potential consumersthat areavailableas pertotheir facilitiesofthe respective management. Byutilising socialmedia medium,the respective management can promotetheir management and influencelarger consumer base. Itshallbe evaluatedby amountofnew consumerswho visit the respective managementthat are avail as per to their facilities. 5 months Togainrevenue of50%in upcoming9 months. Thisshallbe accommodateby presentingsuch packagesand providefor consumersby whichtheyuse facilities. By demonstrating offerssuchas freebreakfast anddrinksor loyalty approachesfor the users. Itshallbe examinedbythe newuserswho comesincertain periodoftime between offer. 1 year To increase salesThismightbeByfollowingIt can be evaluated15 months
by 40% in next 8 months. attainedby influencing consumersby providinglower cost to them. newusersand new methods of offerssuchas discountcoupon or referral points inrespectto provide advantagesthe consumersalso andrespective managementas well. by the amount of thediscount couponsthatare utilisedandthe referral points that arecollectedby therespective businessof management. Controlling and monitoring: Controlling means to the method of supervising the work in order to make sure that if the work is functioning on time, budget which has been allocated and scope as well. Monitoring means to the method of comparison of the appropriate performance with the one that is planned in order to make sure that there is low risk in the working with the task(Xiao, 2019). In case of Marks and Spencer, can utilise the benchmarking method in accordance to observe their progress. Benchmarking means to the activity which is opted by the firm in order to determine their performance with comparison with the other performance of the other organisation. Also, its rivals majorly concentrates on understanding the growth opportunities for the firm internally in order to broad the scope of betterment of their organisation.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
PART 2 Marketing plan Marketing PlanIdeas for completion The title of my blog isThe Blog title is “Sports and Sports Events”. My inspiration for the blog was… Sports is the act which involves the skills and physical exertion in which a person or team competes with other team or a person for the purpose of environment. Mytargetaudience is… The target audience is the spectators and the participants. MyUSP(unique selling point) is… The technologyis used in unique way which provides lot of informationtoseveralpeoplethathelpsthemincareer development. My blog is unique as the sports information provided is of quality which motivates and inspires other to being in that field and developing their future. Mytargetaudience will find it via… The content of my blog can be find by target audience as it will be published on social media such as Facebook, Twitter, Instagram. To publish the source of several sports hashtags will be used and several campaigns will be organised that can inspire individual. My readers will share it because… The readers will read the information as it provides them lot of quality based knowledge and information as the content provided is so informative that will encourage people to develop their career path. The blog also provides importance of Sports in every event and how it is interrelated with other field. HowwillItestmy blog before I publish it (and before I finish this assessment To test the effectiveness of blog the comments and feedback from the target market will help me for improvising more content of blog.
Discussion of SEO and Keyword techniques SEO is denoted as Search Engine Operations which assist in providing different types of data and alerts about the overall health and growth of the website. With the help of these tools all the areas of opportunities can be cover and also help in identifying all the weakness that reduces the ranking and visibility in the SERPs (Bala, and Verma 2018). There are different types of SEO tools which assist in optimizing the websites. The most commonly used free and paid tools has been discussed below:- Google Search Console:-Google Search Console is also known as Google Webmasters Tools. This is basically a free tool which are offer by the Google and this tool is being considered as the most standard tool in the tool kit of SEO. With the help of this tool the an individual can effectively monitor, maintain, and troubleshoot the blogs which are present in their Google search result. Along with this, tool also help in resolve server errors, site load issues, and security issues like hacking and malware which assist in marketing the blogs which are created by the them. Any adjustment or maintenance which is done by the creator is done in a very smooth manner in relation to search performance. Google Ads Keyword Planner: -keyword planner is another free tool which is offer by the Google. This tool is basically the part of their Google Ads product. This tools also being considered as a great tool which are used for SEO even though it is developed for paid search. This tool is used to find the new keyword which is related to the blogs and sees the estimates of searches they get (Paul, and Criado, 2020). Keyword Planner assist the individual in research keyword for their sports blogs which are designed by them. By using this tool thecreator of the blogs effectively identify how much people are search for their blogs and how many times in a month. Backlink analysis tools:-different types of link analysis tools are available inthe market which assist in marketing.The most commonly analysis tools areAHREFs and Majestic (Dabić, and et.al., 2020). The user of Backlink analysis tool effectively analyse that which Website are linking to the own website and competitors websites. Backlink analysis is basically the comprehensive review of a website's which assist in determining
the performance of the sites or blogs and also helps in identifying the different issues which affect the search engine ranking of the user. By using this tool the creators of the blog effectively build a brand authority which helpsin effective marketing of the blogs along with this, this also help in developing new relationships with the customers. Discussion of basic principles of Google Analytics and other analytical tools. Google analytics may be defined as a web analytics service which provide different types of statistics as well as basic analytical tools for search engine optimization (SEO) and marketing purposes.The services which are comprises in this are basically the part of Google Marketing Platform and the most important thing is that there are available free of cost to anyone with a google account.The basic principles of Google Analytical in relation to the blogs has been discussed below:- Collection:-in the data gathering process collection is being considered as the first step. A tracking code need to be put on the websitein order to work for Google analytics. These codes are writtenin the Java Script on the websites andon mobile these are written in the form of SDK (Software Development Kit). This code need to placed before the closing head tag (</head>). This is being considered a the most important step as when auser put the tracking code on the top, a hit is record by the Google Analytics event if the user of the blog leaves the blog before loading completely. With the help of tracking code if the user is on one page then the JavaScript works asynchronously. This state that it runs whole time during the blogs is used (Dash, Kiefer, and Paul,2021). Along with this, this code collect the important information likethe URL, preferred language, browser being used, type of computer, OS system and many more and ten send to the Google analytics as a blog hit. On the mobile phones this process is similar. Configuration and Processing :-this is being considered as the next two step of the principle of Google analytics.These two steps work hand in hand. These two principle comprises of four steps like Data is organized into user and sessions, Imported data is joined with Google Analytics, Addition configurations are applied, Data is aggregated into database tables. One of the most important thing which and user keep in their mind while processing that the session is ends up after 30 minutes. This state that if multiple blogs are accessed by the user in a short time period then this is being considered as the one session (Dhaliwal, Singh, and Paul, 2020). Along with this if the multiple blogs are
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
accessed but with in 30 minutes then this would be considered as multiple session. The user of the processing have to keep in mind that they can change the session time according to their needs. Every thing which happened in the processing phase is control and manage by configuration. In this step the data must be include, exclude and modify before processing phase. Correct configuration is important for good effective result in the end. Reporting:-this is being considered as the last and final stage of the Google analytics process. It is very important for the user to remember the data hierarchy. User, Session, Hit are used in understanding that which elements or dimensions are go together to identify the information and analyse it correctly. The process of reporting is customizing, so its suits the creator of the blog. This is possible with the help of API (Application Program Interface) and the Google Analytics reporting interface. It is very important that AIP needs to be specific. Reflection (following Gibb’s Reflective Cycle) This is being considered as one of the most important as well as famous cyclical models of reflection which help in exploring and experience. This model comprises of six stages which help in determining the challenges. With the help ofGibb’s Reflective Cycle the challenges which have been made by me have been discussed below:- Description:-the above blogs represent about thephysicalfitness and sportsthe importance of it. This help me in enhancing my learningphysical fitnessand also understand the barriers which have been faced within the understanding of sports (Lim, Yap,and Makkar,2021). What are the factors which help in promoting thephysical fitness and sports. Feelings:-with the help of this blog I am able to understand the real objective of the physical fitness and sports for the long term health benefits and knowledge of the different sports activities. Because of this I can help others to be more fit. Evaluation:Based on the blog, I was able to determine the need of the understanding of sports in the blog making, the modes of making the blogs, different channels of blogs which assist in physical fitness in order to deliver the right content to the people. Analysis:From the above created blog, it is clear that SEO tools assist in attaining the both personal and professional growth. I need to improve my physical fitness and
understanding about the sports which assist me to determine how to effectively create the blogs and how to deliver the a good message to the people(Gupta, and et.al., 2020). By improving my physical fitness, this improve my health and assist me playing several sports. Conclusion:The above discussion reflects the need of physical fitness in making the blog that helps to manage different activities which is related tom the blogs. fitness is very important for the smooth making of blogs which help me in reduces the ambiguity and chaos in the field. Action plan:In order to improve my physical fitness,focus has been paid by meon working hard to have command over my several sports activities. Part has been taken by me in training in order to have confidence over my physical growth and sports endurance. THE BLOG https://outseas.blogspot.com/2022/03/sports-and-its-mega-events.html REFERENCES Books and Journals Bala, M. and Verma, D., 2018. A critical review of digital marketing.M. Bala, D. Verma (2018). A Critical Review of Digital Marketing. International Journal of Management, IT & Engineering,8(10), pp.321-339. Dabić, M., and et.al., 2020. Immigrant entrepreneurship: A review and research agenda.Journal of Business Research,113, pp.25-38. Dash, G., Kiefer, K. and Paul, J., 2021. Marketing-to-Millennials: Marketing 4.0, customer satisfaction and purchase intention.Journal of business research,122, pp.608-620. Dhaliwal, A., Singh, D.P. and Paul, J., 2020. The consumer behavior of luxury goods: A review and research agenda.Journal of Strategic Marketing, pp.1-27. Gupta, P., and et.al., 2020. Social entrepreneurship research: A review and future research agenda.Journal of Business Research,113, pp.209-229. Lim, W.M., Yap, S.F. and Makkar, M., 2021. Home sharing in marketing and tourism at a tippingpoint:Whatdoweknow,howdoweknow,andwhereshouldwebe heading?.Journal of business research,122, pp.534-566. Paul, J. and Criado, A.R., 2020. The art of writing literature review: What do we know and what do we need to know?.International Business Review,29(4), p.101717.
Biroscak, B.J., and et.al., 2018. Using system dynamics modeling to evaluate a community-based social marketing framework: A computer simulation study.Journal of Social Marketing. Brown, J.R. and Crosno, J.L., 2019. Process and output control in marketing channels: Toward understanding their heterogeneous effects.Journal of Business & Industrial Marketing. Campo Escobar, J.D., 2020. Plan de marketing para Laboratorio Microanálisis Integral SAS. Gerena Cruz, M.F., and et.al., 2021. Plan de Marketing Setralong. Gundala, R.R., Singh, M. and Cochran, T.K., 2018. Perceptions of integrated experiential learning of graduate marketing students.Journal of the Scholarship of Teaching and Learning,18(2), pp.74-89. Išoraitė,M.,2020.NETWORKMARKETINGFEATURES:FROMTHEORYTO PRACTICE.Ecoforum Journal,9(2). Kieu, T.A. and Mogaji, E., 2018. Marketing communication strategies of off-plan homes. Siskind, G., 2018. Creating an Associate Marketing Program.Law Prac.,44, p.68. Tafesse,W. andWien,A.,2018. Implementingsocialmediamarketingstrategically:an empirical assessment.Journal of Marketing Management,34(9-10), pp.732-749. Xiao, Y., 2019. Tourism marketing platform on mobile internet: a case study of WeChat.Journal of Electronic Commerce in Organizations (JECO),17(2), pp.42-54. Online References What is Human Resources?, 2021 [online]available through <https://www.betterteam.com/what-is-human-resources> What does HR actually do? 11 key responsibilities, 2022 [online]available through <https://www.lucidchart.com/blog/what-does-hr-do> What is Human Resource?, 2022 [online]available through <https://www.humanresourcesedu.org/what-is-human-resources/>
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser