Marketing Audit and Market Segmentation for Marks & Spencer

Introducing to marketing

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Marketing audit of business current performance..................................................................3
Market segmentation that is useful to target the business within retail marketplace.............6
Buyer's behaviour to meeting requirements...........................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
Marketing audit is defined as the aspect in which marketing plan, strategies and
objectives are included. This is a comprehensive aspect which is covering different areas and
factors of marketing (Nicoletti, 2019). Marketing audit is one of the crucial element in which a
business can attain goals and objectives in prominent manner. This is the system which involves
around micro and macro environment and operations so that performance of the organisation can
be aligned in direct manner. This report is associated with concept of marketing audit in the
context of Marks & Spencer which is headquartered in UK. The company is providing clothing
item, food products in accordance with affordable rates. In the report market segmentation is
going to be covered so as to acquire customers and their behaviour in appropriate manner.
Besides this the report is covering marketing strategy in which company is using them in order to
analyse consumer behaviour so that to lead the market in order to enhance overall market
performance.
MAIN BODY
Marketing audit of business current performance
Marketing audit is one of the systematic movement which is used by businesses in order
to analyse, interpret and evaluate marketing environment of the business so that business goals
and objectives can be aligned in appropriate manner. Marketing audit is one of the crucial aspect
in which various issues can be faced in systematic manner. Marketing audit is facing major
issues in which performance of the organisation can be enhanced and align with marketing goals.
For Marks and Spencer their marketing manager is conducting marketing audit in which internal
and external environment is being analysed in order to get higher success opportunities and
providing competitive edge as well (DJAKELI, 2018).
The mission of Marks and Spencer is related with providing appropriate quality to their
customer so that empathy and trust can be maintained by the organisation. Marks and Spencer is
wholly dedicated to managing innovation and quality within product and services. The objective
of Marks and Spencer is to enhance their profitability and to satisfy market demands in effective
and proficient manner. The company is performing PEST analysis in order to analyse market
condition and SWOT analysis for examining internal capacities in prominent manner.
PEST analysis of Marks and Spencer

Political factor: In UK European committee is having power to make decision in
effective manner along with they have free trade policies in which exchange regulations are
aligned with business objective of an organisation. For Marks and Spencer this is a easier task
that they offer business offerings in such a manner that cost advantage can be attained by them.
This is the major reason that high advantage is being attained by competitors in respect of cost
and market structure which intensifies overall industry competition (Larina and Lutsii, 2018).
Economic factor: These are the factors which are related with interest rate, inflation rate,
employment rate and many more other factors. Within this factors Marks and Spencer is having
power to attain market advantage and to provide focus on needs and demands of their customers
in equitable manner. This factor is providing negative implications as as in order to increase
quality cost in automatically increased which provide the company lesser coverage over market
Social factor: Within this customers and society is playing major role as taste and
preferences are being associated with this factor. In the current time customer requirements are
undertaken as the prior aspect in which each and every business is trying to deal with customers
in effective manner. For Marks and Spencer consumer perception is highly prior for them which
may affect their sales and profitability in positive or negative manner. In this aspect Marks and
Spencer may face various issues as in the industry of clothing trends are changing in frequent
manner. In the industry of retail new trends are being inhaled by the industry which is the major
reason of higher profitability within industry.
Technological factor: These are the factors which are related with using latest and
prominent technology in order to operate the business in most effective manner. For Marks and
Spencer marketing manager is having responsibility to provide latest insight to business in
relation to promotion and sales so that emerging technology can be used within business and
goals can be attained effectively. By using latest technology Marks and Spencer can grab
attention of their customer in prominent way so as to provide new insight to the business in short
span of time.
SWOT Analysis of Marks and Spencer
Strength Weaknesses
 The prominent strength of Marks and
Spencer is that the company is
associated with providing products with
 Marks and Spencer is facing higher
competition within industry of retail in
which the company is trying hard to