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Internal and External Marketing Environment of M&S

   

Added on  2021-06-15

14 Pages2174 Words67 Views
Marketing
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Running head: MARKETING PLANMarketing planName of the studentName of the universityAuthor’s note
Internal and External Marketing Environment of M&S_1

1MARKETING PLANExecutive summaryThe aim of this report is to discuss about the internal and external marketing environment ofM&S. Determination of the internal and external environment helped to initiate an ideal andeffective marketing plan. Budget is also being stated in this report for the allocation of the fundin the different activities of marketing plan. This report also concluded with the recommendedmarketing mix strategies for M&S.
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2MARKETING PLANTable of ContentsIntroduction......................................................................................................................................3Objectives....................................................................................................................................3Market analysis................................................................................................................................3SWOT analysis............................................................................................................................3PEST analysis..............................................................................................................................5Political environment...................................................................................................................5Economic environment................................................................................................................5Social environment......................................................................................................................5Technological environment.........................................................................................................6Identification of the sales channels..................................................................................................6Tracking the marketing activities....................................................................................................7Marketing budget.............................................................................................................................7Recommended marketing strategies..............................................................................................10Recommended marketing mix.......................................................................................................11Conclusion.....................................................................................................................................12Reference.......................................................................................................................................13
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3MARKETING PLANIntroduction (P4)The current business scenario for M&S is much more challenging due to the reason thatNext plc has overtaken them in the British market. Thus, they are in the need of an effectivemarketing plan that will help them to operate in the market properly (Todor 2014). This reportwill prepare an ideal market plan for M&S covering all the relevant aspects of their businessoperation. Objectives To increase the sales volume in their global operation. This will help M&S to increasetheir market share and revenue. To regain the status of market leadership in the market of United Kingdom. To tap the growing economy in terms of the global scenario and state of affairs. Market analysisSWOT analysisStrengths Higher brand recognition and brand value. This helps them to furtherpenetrate in the new markets and push new products. Diverse product portfolio also helps them to cater to wider range ofcustomers (McNally, Durmusoglu and Calantone 2013).They are having more number of stores compared to some of their majorcompetitors. Updated product offerings in terms of new age fashion. WeaknessesNot having the status of market leader.Having the perception that M&S do not offers trendy products. Number of ethical issues dented the brand image of M&S (Slade andPrinsloo 2013).Cost of operation is increasing without having the chance of increasingthe prices due to the higher level of competition. Opportunities Entering in the raw and processed food market will help M&S to increasetheir market share.
Internal and External Marketing Environment of M&S_4

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