Introduction to Marketing Assignment - M&S

Added on - 21 Feb 2021

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INTRODUCTION TO MARKETING
Table of ContentsINTRODUCTION...........................................................................................................................1Task..................................................................................................................................................2Marketing audit for current performances of M&S.....................................................................2Evaluation of current marketing strategies of M&S along with their position in market............3Proposal of two set segmentation of market criteria for business of M&S.................................5Research justifying chosen customer group for growth of business in retail market..................6Buyer's behaviours research justifying marketing strategies to meet customer requirement andhelp grow business.......................................................................................................................7CONCLUSION................................................................................................................................8REFERENCE...................................................................................................................................8
INTRODUCTIONMarketing is a business activity undertaken by a firm for the purpose of promotion forbuying and selling of their products along with services. Activity of marketing includesadvertising, selling along with delivering of products to their customers or other businesses.Marks and Spencer Group Plc (M&S) is multinational British retailer dealing in home products,food products and high quality clothing established in London, United Kingdom in 1884 byMichael Marks and Thomas Spencer running its business operations in 1463 locationsworldwide. The report will summarize marketing audit of current performance of business alongwith evaluation company's current position in market and their market position. Further reportwill address proposal for two set criteria for market segmentation for success of business alongwith justifying research for how these customers group help grow business in retail. Finally, thestudy will summarize behaviour of buyer along with several researches justifying chosenmarketing strategies coping up with business growth or not.1
TaskMarketing audit for current performances of M&S.Marketing audit refers to systematic, comprehensive, evolution, analysis andinterpretation of marketing environment of business (internal and external) along with its goals,strategies, objectives principles to identify areas of problem along with opportunity to modifyplan for business accordingly(Armstrong and et.al., 2018). M&S hold the record of profitabilityand success of firm ever since it's establishment. The reason for their success is quality products,innovation along with effective price making value for customer's money spent. Currentperformances of M&S will include –Campaign reachCampaign reach is the statistics of advertising and analysing media in a given period. Thereach of brand to their dedicated consumer will promote the business and even can generatebusiness further.The current marketing practices of M&S have evaluated their each towardscustomers in their desired and dedicated market based on the impression they left on people forthe purchase and use of their products and services such as M&S figure out the impression ofproduct after the marketing practices along with number of followers they gained through theiract by evaluating sponsored posts along with traffic in their websites and applications along withgeneration of enquiry will justify the efforts of marketing practices of team of Marks andSpenser(Baker and Saren, 2016).Market shareIdentifying market share is the practice of evaluating amount of share potentially ownedby particular company. The marketing practices of M&S will help them generate business willhelp justify business performances of M&S to identity weather their business activities areoperated in well systematic manner along with amount of energy and enthusiasm their marketingpeople serve compared to increase or decrease of sales will justify their business practices(Baker, 2016).Overall financial performancesFinancial performances of M&S in terms of generation of funds along with availability ofassets, the money and available funds with firms for any further business expansion will bejustifies according to their availability. Marketing department is overall responsible forpromotion of brand along with withdraw of business from the markets. The evaluation of overall2
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