Introduction to Marketing in Mark & Spencer
12 Pages4100 Words60 Views
Added on 2021-01-01
Introduction to Marketing in Mark & Spencer
Added on 2021-01-01
ShareRelated Documents
Introduction to Marketing
Table of ContentsINTRODUCTION...........................................................................................................................1TASK...............................................................................................................................................1Marketing audit of Marks & Spencer..........................................................................................1Research and market segmentation.............................................................................................5Marketing strategies....................................................................................................................7CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONMarketing is process of creating, communicating, delivering and exchanging or offeringgoods and services to the consumers, clients, partners and society. It can be a activity of sellingand purchasing goods and services. Marketing is a process in which companies and firmsprovide satisfaction to the consumers needs and desires by producing goods and servicesaccording their demands. This assignment is based on Mark & Spencer, it is a Britishmultinational retailer company that specialises in selling clothing, home products and luxuryfood products. This company founded in 1884 by Sir Michael Marks and Thomas Spencer. Inthis report, the market research of M&S will be conducted by using various methods andstrategies such as SWOT analysis, PESTEL analysis and others. TASKMarketing audit of Marks & SpencerMarketing is process of planning and executing the pricing, promotion and distribution ofideas, goods and services. In Marks & Spencer, it can be a action or business of promoting andselling products or services by doing market research and advertising. M&S is the largest retailercompany in the UK and sell clothing, footwear, gifts, home furnishing and food. The companydo market research to identify the needs of consumers so that it can provide produce productsaccording their needs and provide satisfaction to them (Anda and Temmen, 2014). Themarketing of Mark & Spencere ius as following:SWOT analysis of M&SSWOT analysis is framework that vis use by the companies to evaluate the competitiveposition in the market by identifying strength, weakness, opportunities and threats of theorganisation. In context of Mark & Spencer, this analysis can be a tool that can be used by thecompany to identify the strength of the company, weakness of the organisation and opportunitiesor threats for the firm. The SWOT analysis of M&S is as following:Strengths- M&S has many strength that help the company to achieve its growth and objectives.The company has clear brand image cause of its good quality and high-end valueproducts and services that create loyalty within consumers and increase sales and profit(Armstrong, Kotler and Brennan, 2015).1
Large number of stores and outlets is also a strength of the company because haveinternational customers so it established 900 stores all over the world. WeaknessesThe weaknesses are basically refers to that areas where the business of the companyneeds improvement. The first weakness of Mark & Spencer is that the company did not provide satisfaction toits customers and this issues is related to the return policy as well as in store experience(Barile, Pels and Saviano, 2012).Lack of customer satisfaction, the results are poor brand loyalty and increased brandswitching. One of the biggest weakness of M&S is poor scalability of supply chain. Poor financialperformance and frequent product recalls leads to loss in customer confidence are anotherweakness of M&S.OpportunitiesThis element refer to those avenues in the environment that surrounds the business onwhich the company can expend its business and can capitalize to increase its returns. There arevarious opportunities for the business of M&S and for its growth. They are as following:The company can make plan and strategies to invest in Indian markets. By using various online marketing channels and modes the organisations haveopportunities to expand the market at global level. Making improvement and simplifying their operating segment or reshipping theirclothing segment, M&S can grape the opportunity of increase business. ThreatsThis factor is refers to those elements that affect the business of the company and createbarriers in the business of the firm. There are various threats for M&S, they are as following:Competition is a big threat for M&S. There are various competitors of Marks & Spencersuch as Uniqlo, Tommy Hilfiger, Zara and others. Changing trends and fashion in the clothing space.PESTEL analysisPolitical- This factor related to the political changes and fluctuations that affect thebusiness of M&S (Burgess, and Steenkamp, 2013). These changes can be impacted positively as2
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Swot Analysis of Marks & Spencerlg...
|6
|1379
|319
Context of Businesslg...
|12
|3752
|402
Context of Business - SWOT and PESTLE Analysis of Mark and Spencerlg...
|11
|3643
|426
SWOT Analysis & Operational Impact Analysislg...
|10
|1698
|39
SWOT Analysis of Marks and Spencer and Factors Impacting Functional Areas of the Organisationlg...
|7
|1389
|335
Essay on the SWOT analysis of Marks and Spencerlg...
|6
|984
|432