e an evaluation of the organisations current marketing strategy and position in the market On Mark and Spencer

EVALUATION OF
CURRENT MARKETING
STRATEGY AND
POSITION IN MARKET
ON MARKS AND
SPENCER

Table of Contents
INTRODUCTION ..........................................................................................................................1
MAIN BODY...................................................................................................................................1
Undertakes marketing audit of business current performance and evaluate current marketing
strategy and position in market...................................................................................................1
Market segmentation that is useful to target the business within retail marketplace..................4
Demonstrate buyer's behaviour to meeting requirements of suggested marketing segments to
moving business forward............................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Marketing refers to an essential approach for the business enterprise to buying and selling
of goods and services. It also provides the information related to customers and market trends to
company so that they can satisfy the customers to high extent and sale their offerings proficiently
for longer sustainability in business industry. This report is based on Marks and Spencer that is
one of the largest multinational retailing company in United Kingdom that was established on
1884. This company offers the variety of products that are foods, clothing, home wares with their
own label. The project report undertakes the several task that includes marketing audit which
helps in analysing current performance of market which helps in gaining profitable results.
Further it includes two sets of market segmenting that helps in successfully targeting the
customers so that firm will gain the profitable results in their longer survival. At last it includes
the understanding of buying behaviour that can justify the marketing strategy and helps in
moving the business to new heights (Blythe and Martin, 2019).
MAIN BODY
Undertakes marketing audit of business current performance and evaluate current marketing
strategy and position in market
Marketing audit refers to a systematic, analysis, interpretation and evaluation of
organisation marketing environment so that goals and objectives of the business enterprise can
be attained on specific period of time. It is comprehensive in nature that can covers all
information related to marketing area where firm will face the issues. Marketing audit is to be
systematic in nature that can evaluate external and internal environment which influence the
performance of marketing. In context of Marks and Spencer, marketing manager can conduct a
marketing audit by analysing internal and external environment so that they can get the higher
success and also gain competitive advantage within retail marketplace (Armstrong and et. al. ,
2018).
The mission of Marks and Spencer, is to provide aspirational quality to customers so that
their trust on company is to be maintained. The organisation values trust, innovation, quality and
service. The objective of M&S is to develops the overall profits and revenues by satisfying the
demands of customers to segment the market effectively and efficiently. It includes PEST,
1

SWOT Analysis to analyse the market audit of organisation. The marketing audit of Marks and
Spencer can be presented below:
PEST analysis of Marks and Spencer
 Political factor- In UK, European committee decision that is free flow of trade among
other foreign countries under the foreign exchange regulation act that can makes the
companies to import their offerings easier it would affect the Marks and Spencer because
of high cost structure. Due to this competitors can take advantage of it and it will reduce
the concerned firm market structure.
 Economic factor- This factor includes interest rate, spending power of consumers etc. In
this rivals of Marks and Spencer can take the advantage of capturing the market as they
specialised in consumer focus and also niche marketing that can highly satisfied the
demands of consumers. As competitors of concerned company can import the products
from foreign countries that can saving the cost. It will highly negative for Marks and
Spencer to provide the cost disadvantage for their quality products (Deepak and
Jeyakumar, 2019).
 Social factor- In this customers and society play a major role because company can
offers their products and services as per the current market demand so that customers
requirements are to be fulfilled effectively. In terms of Marks and Spencer, Consumer
perception is change frequently that will affect the sales and profit margin of concerned
company. In this Marks and Spencer can face the issue in their clothing sector that cannot
fulfilled customers demands due to this their financial performance is to be drop in the
current year. In their retailing they can focus on improving their fashion trends so that
profitable results can be enjoyed.
 Technological factor- This factor is very prominent in current business industry because
of enhancing customer base and profit margin. In case of Marks and Spencer, marketing
manager can adopts the use of technology in promoting their products and services that
helps in analysing current demand so that profitable results can be enjoyed.
 Environmental factor- In context of Marks and Spencer, company can highly focus on
reducing the impact of environmental losses within the year. In this they can reduce the
15% carbon footprints, 15% water footprint and 3.5 % reduction in waste in overall
2