This report discusses the digital marketing strategy of Marks & Spencer, a multinational retailer. It covers situational analysis, objectives, implementation plan, budget, and monitoring techniques. The strategy aims to improve the company's digital presence and increase sales.
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Table of Contents INTRODUCTION...........................................................................................................................3 MAIN BODY...................................................................................................................................3 STEP 1 Situational Analysis........................................................................................................3 STEP-2 -Linking the digital business with Digital Marketing Strategy......................................5 STEP- 3 Objectives......................................................................................................................6 STEP- 4 design implementation plan to meet objectives............................................................6 STEP 5 Budget............................................................................................................................8 STEP- 6 Monitoring and controlling...........................................................................................8 CONCLUSION...............................................................................................................................8 REFERENCES..............................................................................................................................10
INTRODUCTION Digital marketing strategy of the organization describes the series of the action that use digital marketing channels to achieve the goals and objectives. The channels within the digital marketing strategy can include earned media and paid media like SEO, Social Media, Content Writing etc. This report will cover the digital marketing campaign of Marks & Spencer which is a British multinational organization operating their business worldwide. M&S top most retail supermarket chain that sell varieties of product that include, home appliances, food product, cloths etc. digital marketing campaign will helps them to attract customers and increase their sales and company will able to show their presence within the market. MAIN BODY STEP 1 Situational Analysis SWOT analysis Strength Marks & Spencer is one of the leading brand within the United Kingdom that they have build from within past 136 years.Products sell by theMarks & Spencer is with high quality and this brand does not compromise with their product quality (Chaffey and Bosomworth., 2017), Weakness One of the major drawbacks of Marks & Spencer is that the company heavily relies on manual operations. It is costly and consumes a lot of time.Marks & Spencer do not offer the clothes to the young and teenagers. Opportunities Increase in the digital presence thorough the digital marking channels and tools can create higher opportunities for the brand, and they can make more customers and increase their sales.Improvement in online stores can also create opportunities for the brand to increase their sales. Threat Competitors are the baggiest threat for the M&S because there are some big competitors like TESCO, Sainsbury are taking their place by offering huge discount to the customers.
PESTEL Analysis Political Marks & Spencer is operating their business in various countries and their business which means political factors corruptions in the countries have huge impact on the company. Company havetopaythosecorruptpoliticians,sotheycansuccessfulruntheiroperatewithout governmental interferenceDigital Marketing Plan,(2018). On the other side they also get invitation from the political parties to expand their business within their country, so they can create new jobs and their economy can be grow. Economical Economical factors like high inflation rates within the country affect the customers of Marks & Spencer. Product and services prices also rise with the inflation rates that force customers to go with the discount stores (Chaffey and Smith., 2017). On the other side decrease in the prices of raw material has positive impact on the Marks & Spencer, and they can provide their product and princess to the customers in lower prices and take competitive advantages within the market where they are operating their business. Social Lifestyle and new trends brings the changes and it can create negative impact if company use the old fashion clothes within the stores. Customers demand for the product that are trending within the market and it is necessary for theMarks & Spencer leaders and managers to change their fashionable product according to the needs and demand. Marks & Spencer add value in the customer by the following the new trends within the market. They have appointed the designers who design their product that helps to attract customers and satisfy their needs. technological Technological factors have both negative and positive impact on theMarks & Spencer, company is using the old technology within their organization. In result other competitors are overtaking them (Chaffey and Ellis-Chadwick., 2019). They also need improvement their online shooing sites, and they also need to use conduct digital marketing strategies to take competitive advantages.Marks & Spencer marketing team can use the digital marketing tools to run their campaign and it will help them to bring new customers who can buy their product and services and company will able to grow within the Retail industry. Improvement in their shooing side can also create opportunities for the company to build huge customer audience.
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Environmental Companies within the Retail industry are getting strict warning from the governmental bodies to give their contribution toward the environment and it also includeMarks & Spencer. The issues related with the current climate conditions, are being promoted on a regular basis on television, in magazines and in newspapers as well. Marks & Spencer have their established their own Green Policy which they now refer to as “Plan A”. It is an initiative adopted by the company to have a positive impact on the well-being, communities and on the planet. Legal Marks & Spencer legally following all the governmental rules and in year 1998, Marks & Spencer's become the first British retailer to make the pre-tax profit of 1 billion pound. This shows that how they are concerned with the legal rules and regulation within the country where they are operating their business. STEP-2 -Linking the digital business with Digital Marketing Strategy Marks & Spencer is one of the largest retailer who are having huge reputation in all over the world. They are selling their business varieties of the product and services by using both online and offline digital marketing. Marketing team of theMarks & Spencer have good experience of the digital marketing, and they are operating their business on various digital marketing tools (De Pelsmacker, Van Tilburg and Holtho., 2018). Marks & Spencer is operating their business on the social media sites like Facebook, Instagram, twitter and you tube as well. This all tool are useful for the company to run their advertisement campaign and bring traffic on their website and company make the new customers. Facebook-Marks & Spencer already worked with the infectious social media site Facebook and fr the experiments the Facebook marketing partner created custom events from the Marks & Spencer own data to operate new customers from the repeat customers. Then company did a partnership with the Facebook to run conventional left test.Marks & Spencer is having 314.500 followers on the face book currently where they offer the product to buy directly from their site. Instagram- Marks & Spencer also run their digital marketing campaign on the Instagram which is also an one of the most effective side and most of the people are having their account on the Instagram that makes easy for theMarks & Spencer to attract customers thorough their campaign. CurrentlyMarks & Spencer is using the Instagram strategy to attract the millennials
because millennials make the online purchase for the company around 54 percent and 67 percent on the physical stores (FIDM., 2017). Instagram is famous among the Millennials and to attract them marketing team of theMarks & Spencer run their campaign that increase their sales and provide them competitive advantages. You tube-Marks & Spencer is having their own channels on the you tube, but they are not that active on this social media platform. It is necessary for the Marks & Spencer marketing team to understand the importance of this platform as well because there are many influencers on the you tube who are having millions of followers and famous among the people. STEP- 3 Objectives Smart objectives To increase sale of product and services by 10 % till the end of 2022 To increase brand awareness among the people by 20 % till the end of 2022 To enhance the Organic traffic on the shopping site till the end of 2022 STEP- 4 design implementation plan to meet objectives STP plan Segmentation Most of the clothing product of theMarks & Spencer are sell by the company on the basis of their gender and age DigitalMarketing Strategy , (2019). They will use similar marketing strategy in their campaign. Psychographics – Clothing product of theMarks & Spencer will be depended on the lifestyle of the people within the country. They will bringing trending product to attract customers digitally. Targeting Marks & Spencer will use the digital marketing tools like face book, Instagram, SEO, content marketing to attract their customers and provide them varieties of the offer, so they can visit companies website and buy product and services (Hanlon., 2019). Positioning Though this digital marketing campaignMarks & Spencer wants to become top retail company, and they want to increase their sales digitally. Position of the brand always matter, and they come on the top 3 retailers on the Uk, and they want to overtake their competitors like TESCO. Marketing mix
Product Marks & Spencer is selling varieties of the product within the different different segment like Food, groceries, ad clothing.Marks & Spencer offers the product for woman that include Blazers, learn, top etc and for the man , T- shirt, Shirt Pent etc. To increase their sales more company will improve their quality of the clothing product to attract customers. Price Marks & Spencer will use competitive pricing strategy and provide discount price to the customers on their digital campaign (Li., 2018). It will help company to attract customers, and they will able to increase their product sales as well. place Marks & Spencer is operating their business worldwide ad they are having 1000 stores in 50 countries. To expand their business reach more company will use the digital marketing channels and improve their digital sites, so they can show their presence online and expand their business and sales both. promotion Marks & Spencer marketing team will use the social media and other digital marketing tools like SEO and contain writing tools to attract customers and promote their campaign. Digital marketing campaign are more accurate and cheaper than offline marketing. Process Marks & Spencer is using the various IT system within their organization and stores that is making the customers experience better and now they will install inventory management system to ensure the availability of the resources and mange the inventory (Muhonen., 2017). People leaders and managers of the company will provide skill based training to their employees to make them more effective in their work, so they can help company to achieve goals and objectives. Physical evidence Marks & Spencer is having both online and offline presence that is proof that company is physically presence and people are aware about the Marks & Spencer brand.
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STEP 5 Budget Marks & Spencer marketing team will run the digital marketing campaign to attract customers and increaser their sales. They have estimated the budget for the champaign around 70000 pound and it will cover all the promotional activities all other necessary equipments. ParticularAmount (Pound) Social media advertisement1500 Continent Writing and SEO1500 Salary of employees2000 Training and development1000 Other expenses500 Additional amount500 Total7000 STEP- 6 Monitoring and controlling There are various monitoring and control tool that used for measuring and controlling digital marketing campaign. Marketing team of theMarks & Spencer will use 360 feedback techniques and Key performance digital to control and monitor the process of their digital marketing campaign (Pyykkö., 2020). 360 Degree feedback 360 Degree Feedback is the process and system in which marketing manager take the feedback from the other team member about the feedback and if there are any problems in the digital marketing champaign then they make strategies to improve it again. Key performance indicator Key performance indicators (KPIs) refer to a set of quantifiable measurements used to gaugeacompany'soveralllong-termperformance(RajalaandTikkanen.,2018).KPIs specifically help determine a company's strategic, financial, and operational achievements, especially compared to those of other businesses within the same sector.
CONCLUSION As per the report has been covered case study ofMarks & Spencer and create a digital marketing campaign. This campaign has been established to provide competitive advantage and company can take higher position within the market where they are operating their business. It has been discussed the area where company need improvement and analyse how company can improve their digital presence within the market. Digital marketing campaign of the company Marks & Spencer has been concluded Situational analysis, smart objectives, STEP plan , Budget and measuring and controlling techniques.
REFERENCES Books and journal Chaffey, D. and Bosomworth, D., 2017. Digital Marketing: Strategy.Implementation and. Chaffey, D. and Ellis-Chadwick, F., 2019.Digital marketing. Pearson UK. Chaffey, D. and Smith, P .R., 2017.Digital marketing excellence: planning, optimizing and integrating online marketing. Taylor & Francis. De Pelsmacker, P., Van Tilburg, S. and Holthof, C., 2018. Digital marketing strategies, online reviewsandhotelperformance.InternationalJournalofHospitalityManagement.72. pp.47-55. FIDM, D. R., 2017. SOSTAC: The guide to the perfect digital marketing plan.Journal of Direct, Data and Digital Marketing Practice.16(2). pp.146-147. Hanlon, A., 2019.Digital marketing: strategic planning & integration. SAGE Publications Limited. Li, Q., 2018. Digital Marketing Plan For A B2B Company: Case company: Verkotan. Muhonen, T., 2017. Forming a Digital Marketing Plan For a Start-up Brand. Pyykkö, R. A. O., 2020. Digital Marketing Plan Steni Finland Oy. Rajala, I. and Tikkanen, J., 2018. Kojair Tech Oy: Guidelines for a Digital Marketing Plan. Online DigitalMarketingPlan,2018[Online].Available through<https://www.wearemarketing.com/blog/a-step-by-step-guide-to-structuring-a- digital-marketing-plan.html. [Accessed on 22thJanuary 2021] DigitalMarketingStrategy,2019[Online].Available through<https://www.smartinsights.com/digital-marketing-strategy/>.[Accessedon22th January 2021]
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