Introduction to Marketing Research and the Marketing Mix

This report provides an introduction to marketing research and discusses the importance of the marketing mix in the context of Marks and Spencer. It covers the seven elements of the marketing mix - product, price, place, promotion, physical evidence, process, and people - and how they impact the functioning of an organization. The report also includes a critical self-reflection on the marketing mix and concludes with the importance of effectively managing all aspects of the marketing mix for organizational success.

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Table of Contents
INTRODUCTION...........................................................................................................................1
Introduction to the marketing research ......................................................................................1
Marketing mix: ...........................................................................................................................2
Critical self-reflection ................................................................................................................4
Conclusion ......................................................................................................................................4
References .......................................................................................................................................5

INTRODUCTION
Marketing mix is known as the process which provides information about different
factors which provide information regarding various factors that affect any company’s
functioning (Cavusgil, and et. al., 2014). It is an effective process This report includes the
management of marketing within an organisation and how it is helpful for conducting the
research work. There is discussion also includes a critical reflection. The chose company which
is taken in this report is Marks and spencer. This is a retail sector company of UK which was
founded by Thomas Spencer and Michael Marks. This company is running successfully
worldwide.
Introduction to the marketing research
Market research is a formal diagram of intelligence analysis, gathering and documenting that is
often subtly applicable to every marketing issue. Experts in this area indicate that the method has
taken the same course in the sense of market analysis (Cohen, 2005). The method of marketing
analysis relies on different considerations, including prices, time, priorities and many others.
Marks and spencer plc, the organisation chosen, consists of seven staged marketing research
processes. The problem of determining the planning of the study design, then gathering the
statistics and results, then reviewing the data, then translating and eventually compiling the
research papers, begins with the target specification.
Market research diagram
Marketing analysis is helpful in the compilation of consumer and target market results.
For business policy, it's really significant and a wide range in the incorporation of competition.
Real economy analysis is an important method because it aims to define and assess requirements
and procedures in order to maximise the value of the company and profitability (Gillespie, and
Riddle, 2015). Qualitative approaches, including surveys, interviews, as well as statistical tools,
including numerical and qualitative processes, group of investors, and empirical statistical
results, are used in data analysis techniques. A practical enhancement may also be recommended
on the grounds that it is important to provide effective study for the empowerment of the
enterprise to improve and optimise the benefit. There is need to manage the work effectively for
attaining organisational goals and objectives. It is important to conduct the business activities
and tasks properly for attaining organisational goals.
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Questionnaire design
A questionnaire is a set of various questions which is helpful for analysing objective and
purpose to gather all information from the respondents and people who will be helping in
managing research work and meeting desired results.
The questions related to the company Marks and spencer
1. .Has Marks and Spencer been able to gain market loyalty in terms of rivalry in the
market? - This is an issue that needs to be described as a significant reflection of the
maximum benefit earned by the company (Griffitts, 2016).
2. If the original goods and services are not present, what substitute brand should a
client use? - This is a question that must be posed on the basis of an awareness of the
willingness of the customer to buy goods and services from a single company.
3. Is it possible for Marks and Spencer to develop their customer relationships? - This is
a question that needs to be answered and there is a need for every company to
considerably recognise the partnership that can create a business or at the same time
kill the business.
4. Did Marks and Spencer actually allow clients to enhance their consumer services? -
The problem is important because Marks and Spencer needed to gain the reviews
prominently so that they would increase their maximum satisfaction.
5. Do Marks and Spencer, year after year, really increase their productivity? - The
question needs to be addressed, since the increase in production can be a significant
factor in the organization's market share.
6. What was the actual reason that genuinely attract the consumers? - if the company
known its major and popular product then it will help the consumers in understanding
the customer services.
Marketing mix:
Product
The garment products of Marks and Spencer are renowned for their first-class quality,
reliability, style, and variety. Marks and Spencer's has never deferred on these vital aspects since
their incorporation in 1984 and worldwide growth in 1974; the benefit of this took the form of
devoted customers worldwide. M&S is a big and reputed company which is famous worldwide
because of it’s high quality products.
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Price
For its clothing products, Marks and Spencer charges medium to high prices (a decent price at a
very high cost). Any of the commodities, though have premium rates that only attract a certain
ruling elite of customers.
Place
Marks and Spencer's has a well-established international presence in the entire United Kingdom
with its 600 plus retail stores (marksandspencer.com, 2011). Thus in the urban centers of the UK
and other developed countries, its products are readily available (Groucutt,. and Hopkins, 2015).
In addition, through online retail sites, such as Amazon.com and its own platform, Marks and
Spencer sells its apparel items on the internet.
Promotion
The promotion of Marks and Spencer's products is done through all the marketing mediums; like
advertisements on television, internet and social media, major newspapers, fashion magazines,
Marks and Spencer's broachers, etc ((Hair Jr, and et. al., 2015). this company uses various social
media websites to increase the reach of it’s products and services to customers. There is need to
have effective promotional technique to manage the functioning effectively.
Physical evidence
It refers to physical evidences or the Application of company in terms of company logo,
products, reach of advertising and marketing hordals, banners, etc. there is need to manage the
work in such a way that all organisational goals are achieved. Marks and spencer has unique way
of attracting customers towards new product or service by having an attractive logo.
People
It refers to the total employees who are working under M&S company. It is considered that all
the employees working in company must be motivated and encouraged for attaining
organisational goals. It is the responsibility of individuals to manage the employee motivation for
making the business activities functioning smooth.
Process The process is defined as way by which company is managing to have effective way to
manage all business operations and activities. These are done in effective manner to be managed
by the companies for completing the goals and objectives.
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Critical self-reflection
One of the basic elements of the structure of the marketing combination, such as
promotion. I believe this aspect allows the company to fundamentally have certain types of
tactics that support the business strategy greater organisational performance and development.
The location aspect will assist in the larger structure of product design. Method, physical proof
and others also consistently contribute to an organization's development and competitiveness.
One of the really relevant and easy-to-analyze methods of marketing analysis is the marketing
mix system. It reinforces the system which requires the opportunity to desire and the intent to
improve the goal and attain success (Hugos, 2018). The Marks and spencer company utilises the
system to accomplish the organization's success and appetite for capacity on the basis of rising
revenue and efficiency. The questionnaire I administered above provides a perfect way to apply
the assumptions themselves and the perspectives of interpretation. The architecture of the
marketing mix would certainly allow me to evaluate the product and make it achieve higher
growth and satisfaction. The product, which is the first important element in the marketing mix,
allows me to enhance the materials to be marketed on the market and the high quality of the
products. According to myself, if I get a chance from the senior management, it would certainly
encourage me to make the goods and services that have firmly rendered the best among products
and services. I have evaluated that there is need to manage the marketing mix properly for
managing the advertising and promoting of companies effectively.
Conclusion
From the above discussion, it is analysed that there are seven aspects of marketing mix
which consists of product, price, place, promotion, physical evidence, process and people. The
above report provides description about all these factors and how they affect the functioning of
any organisation. After this, there is reflection regarding the factors of marketing mix. There is
information regarding the marketing mix of company and how it is managed for having
profitable business. There is need to provide proper analysis of all seven factors of marketing
mix to manage the functioning in effective manner. There is need to develop and manage the
work in such a way that all organisational activities are done properly.
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References
Books and journals
Cavusgil, S. T., and et. al., 2014. International business. Pearson Australia.
Cohen, W. A., 2005. The marketing plan. John Wiley & Sons.
Gillespie, K. and Riddle, L., 2015. Global marketing. Routledge.
Griffitts, M., 2016. Human resources marketing and recruiting: Essentials of internship
management. Handbook of Human Resources Management. pp.103-118.
Groucutt, J. and Hopkins, C., 2015. Marketing. Macmillan International Higher Education.
Hair Jr, J. F., and et. al., 2015. Essentials of business research methods. Routledge.
Hugos, M. H., 2018. Essentials of supply chain management. John Wiley & Sons.
Kladou, S., and et. al., 2016. The role of brand elements in destination branding. Journal of
Destination Marketing & Management.
Lane, P., 2015. Human resources marketing and recruiting: essentials of employer branding.
Handbook of Human Resources Management. pp.1-30.
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