Introduction to Marketing Assignment : Marks & Spencer
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Added on 2021-01-01
Introduction to Marketing Assignment : Marks & Spencer
Added on 2021-01-01
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Introduction to marketing
ContentsINTRODUCTION.................................................................................................................................3TASK....................................................................................................................................................3Marketing audit of Marks & Spencer................................................................................................3Research on market segmentation.....................................................................................................7Marketing strategies..........................................................................................................................8CONCLUSION...................................................................................................................................12REFERENCES....................................................................................................................................13
INTRODUCTIONMarketing is the compulsory part of the organisation which helps the company todevelop its strong brand image in the market. Irrespective of the firm size whether it is small,medium or large company has to execute the marketing function in its business routine(Introduction to Marketing, 2018). The marketing manager plays a dynamic role in theexecution of the marketing function like to decide the target market and customer for thecompany products. So marketing manager found different alternatives which help thecompany to expand its business and to operate the market for a wider action. The companychoses for this assignment is Marks & Spencer. In these case PESTLE, SWOT along withAnsoff matrix to study the growth and opportuinities of Marks & Spencer in the market. Thisreport explained different segment on which basis company is divided their task to differentdepartments. This basis help the company to achieve their goals with efficiency andeffectiveness. TASKMarketing audit of Marks & SpencerMarketing function help the company to explore out useful information from themarket and then transfer it to the management of the organisation. By this reliableinformation Marks & Spencer execute effective decision that helps the company to make astrong brand position in the market. As the company is already a well-known organisation ofthe UK and offer various products to the company such as food, home décor items andclothing etc. with a inferior quality in its products. Marks and Spencer stores are presentacross all world (Ahrens, 2011) So it is very important for the organisation to conduct theiraudits it is useful for the management to find their actual position in the market. With thecurrent position of the Marks and Spencer management make their decision as per the markettrends moves. So company achieve longer sustainability in such a dynamic environment. Themarketing audit of M&S is as follow:SWOT analysis of Marks and Spencer(M&S):With the implement of the SWOT company analysis their actual strength andweakness with the upcoming opportunities and threats in future. The Marks & Spencer isoperating its business in the clothing industry where there a lot of competitors are previouslypresented (SWOT Analysis, 2018).This competitors impact on the growth and sustainability of
Marks and Spencer. Therefore the top management of Marks and Spencer decided to executeSWOT analysis in the company. So they can make amendments in their plans and policy toincrease their strength and reduce their weakness in the market (Bacik, Gavurova andFedorko, 2015).StrengthWeaknessM&S is the giant retailer in the UKmarket which offer various productsin its stores that start from food andend with clothes sector. This largevariety of product help the companyto generate a strong base of thecustomer.Marks and Spencer manufacture andlabel their own brands such as Northcost & Per Una etc. which generatemore faith in the mind of thecustomer and develop a transparentperception for the Marks and Spencerbrand. So customer repeat brandname in the mind of customer. There are more than 80,000employees who are relate with Marksand Spencer and perform their duty inthe office and store of the company.At present M&S are operating theirmore than 900 store in the UK marketitself. Out of 900 the companyprovide franchise in their 300 foodstore which make the presence of thecompany with a strong brand image.Marks and Spencer is more focusedits business in the UK, US andEurope but the company face manychallenges in the Asia market andunable to tackle them. This create abarrier to enter company in the Asianmarket. Company has not sufficient supplychain to deliver their productsthrough online. As M&S tried todevelop a supply chain in the marketbut failed to implement it theorganisation.The customer are not satisfy with thecompany return policy and the staffbehaviour is also an issue at the timewhen customer are visitingcompany’s store. This result thatpeople started to switch on differentcompanies.OpportunitiesThreats M&S has a chance to grab the Asianmarket by providing ethnic andtraditional wear to the individualsCompany has to face toughcompetition from different multi-national company such as Asda,
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