Introduction to Marketing Assessment

This document provides an introduction to marketing assessment and its significance in evaluating current marketing practices and strategies. It includes a marketing audit of Marks and Spencer, evaluating its performance and position in the market. The document also proposes two sets of marketing segmentation criteria that can be targeted by the business. The subject is Marketing and the course code is not mentioned. The document type is an assessment.

Introduction to
Marketing
Assessment

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Marketing audit of existing performance of the business......................................................1
Evaluation of existing marketing strategies along with market position of the enterprise....5
Proposal of two sets of marketing segmentation criteria........................................................6
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Marketing assessment is termed to the chance for evaluating organisation current marketing
practices, tactics along with upcoming plans for line up them with budgets to profit objectives. It
is study related to evolution of various commodities or services including analysing market
trends, conducting market studies as well as assessing competition (Armstrong and Et. Al.,
2015). Companies uses the concept for examining other businesses, establishing performance
benchmarks, forecasting potentials, setting integrated marketing programme and aligning
expectations for better identifying services together with pricing. The report is prepared by
considering Marks and Spencer which is one of well popular retailing business which brings
great values and quality in food, clothing and other products. Its headquarters are located at
Leeds, UK. The founders of the company were Michael Marks along with Thomas Spencer in
the year 1884. The report includes marketing audit of current performance of the business and
evaluation of marketing strategy with position. It also involves a proposal about two sets of
marketing segmentation criteria that could be targeted by business in successful modes.
MAIN BODY
Marketing audit of existing performance of the business
Overview of entity
Marks and Spencer is global retailing organisation which is recognised for its freshness,
innovative credentials together with huge quality. Its aspiration is for becoming popular for
wearable styles, quality home products and eatable essentials. It has in total 1400 stores in
around 57 countries and more than 50 global websites. It also provide wide types of financial
services such as current account facility, insurance plans, credit cards, savings account and
mortgages across the globe.
Marketing Audit
Marketing audit is characterised as full exploration along with analysis of overall
marketing environment of the company in which all strategies, tactics and targets related to
particular marketing activities are assessed properly (Baines and Et. Al., 2017). It is an important
mode for an enterprise to assess its marketing plan through asking the department members
about what is working and what is not. With this, managers of business concerns make
adjustment addition to corrections wherever and wherever necessary. It is useful to getting back
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with the brand, services, commodities and re-focusing towards efforts of entire marketing
workforce. In case with Marks and Spencer, managers of marketing function conducts marketing
audit through tools concerned with external environmental audit as well as internal
environmental audit (Tools to conduct marketing audit, 2020). For this regards, marketing audit
for current performance of Marks and Spencer is undertaken below:
External environment audit: Within this marketing audit, entire types of external
elements or factors are taken in considerations which are uncontrollable in nature. It is analysed
that all performances of a company are subjected to technological automations, regulations
governed by regulatory agencies, economical situations and so on that can impact negatively on
decisions framed by the marketers and entire operational efficiencies. In context to Marks and
Spencer, administrators uses PESTLE framework as effective tool for external marketing audit.
PESTLE analysis provides good synopsis about external environment situations for the purpose
of examining current performances of the entity. It comprises various factors that help in
understanding business position, operational directions, decline or growth in market and so on.
Marketing professionals of Marks and Spencer have undertaken external marketing audit to
analysis external factors which can impact the designed marketing processes. The evaluating of
all macro factors are below:
Political factors: Environmental laws, stability in political system, tariffs, trade barriers
and policies framed by government of a nation are all political factors. It can be said that political
factors are the degree or extent in which government authorities intervenes in operations of an
industry and economy of country (Burgess and Steenkamp, 2013). In UK, it is seen that political
system is stable that provides huge opportunities to companies including Marks and Spencer to
perform activities related to marketing effectively for further expansion. However, when some
restriction are imposed by the legal authorities on company in context to its marketing then it
may lead to influence its performance drastically.
Economic factors: Economic growth, disposable consumer income and business cycle are
some of economic factor that are considered by Marks and Spencer managers in order to analyse
existing performances. It is seen that UK has globalised economy which assist top management
team of the company to analyse economic factors for framing decisions for marketing strategies
according to findings. However, Bank of England has increased its interest rate which affects
margins of profit of the company and hence impacts of its performances too.
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Social factors: Factors which are ubiquitous in the society in which consumer lives are
closely linked with social factors. It engrosses beliefs, physical status, education level, ethnicity,
demographic customs and perceptions of population (Burns, Bush and Sinha, 2014). In UK,
population are making sudden changes in their lifestyles and choices in accordance with
availability of products. In this regards, it is important for managers of Marks and Spencer to
meet all choices of consumers and provide them suitable offerings as per their changing
lifestyles. When consumers are satisfied with the offerings than it can impact favourable on
existing performance of the retailer in terms of consumer base and satisfaction level.
Technological factors: It is one of key factor that helps in assessing as well as listing out
challenges which can have potential impacts on current organisational performances and can be
critical in long term future. Some of technological factor includes knowledge management
systems, intellectual property, network coverage, production efficiency, research and
development, use of outsourcing and technology automation. Marks and Spencer carry out its
marketing practices through using innovative technology such as social media platforms and
Google Adwords. Along with this, it also uses self swipe machines in order to payments made by
customers and so on that attracts wide customers those results in improving customer base and
performances in competitive technological market.
Legal factors: Elements which states about the ways in which any legislation can impact
the performance and operations of company are legal factors (Deepak and Jeyakumar, 2019).
Moreover, they highlights about the manner in which business performances may be constrained
through laws that are enforced by established political system. In UK, Maximum legislations are
enforced by political system and it is mandatory for firms to adhere them otherwise huge impacts
are seen on their performances. In case with marks and Spencer, managers adheres all the
legislations including consumer protection law, health and safety law, minimum wages act and
so on which protect the employees from any discrimination or malpractice. This motivates them
to work with fuller dedication and show their efficiencies in positive manner that leads to
upgrading the performance levels of the retailer.
Environmental factors: Elements which focuses on protection environmental conditions
of a nation are termed to environmental factors. It involves ecological aspects as well as
environmental offsets. All the business concerns that operates in UK emphasis on various
environmental factors at the time of devising any plan or programme that influences the current
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performances to attaining objectives (Fahy and Jobber, 2012). In association to Marks and
Spencer, the main focus is on optimum usage of all available resources and reducing carbon
footprints in order to fulfil responsibilities towards society. Addition to this, the company also
ensures that all its products which are sold to consumers are generally eco friendly and are
provides in reusable bags despite of plastic bags that made the existing preferences recognised by
consumers and they are purchasing in huge quantity as all products are safe to use.
Internal environment audit: Herein, all internal elements which are controlled by
managers of company are considered to analyse exiting performances (West, Ford and Ibrahim,
2015). The factors which can influence existing performance of internal operations are part of
the audit tool. The major tool that helps in conducting internal environmental auditing is SWOT
analysis that plays essential role in suitable marketing audit and tackling analysis at initial period
of marketing audit so that all the required information are available for utilising them as
measurement for further procedures. The evaluation of the elements is underneath:
Strengths Weaknesses
 Marks and Spencer is one of highly
recognised brand in UK for the quality
and services of the products it are
offered by it (Fill and Turnbull, 2016).
 The retailer have wide product portfolio
in all its stores that assist consumers to
select best one.
 The company has backdrop following
various old techniques despite of
following new techniques that enhances
distinct costs.
 Marks and Spencer has failed in
penetrating successfully in international
markets.
Opportunities Threats
 Marks and Spencer have opportunity of
evolving business as well as follow
fashion trends through capitalising on
the segment to fulfil demands of
consumers.
 Administrators of the retail business are
focusing on adopting online platforms
for online presence in uncaptured
international areas for reinforcing
 Limited or no focus of managers of the
company on fluctuations of clothing
trends as well as food commodities is a
huge threat that may impacts negatively
on existing performances in context to
reducing market shares and so on
(Giovanardi and Lucarelli, 2018).
 The retail organisation has threat
related to losing scope in business
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performance and position. because of intense completion from top
performers including Tesco, Aldi and
so on.
Evaluation of existing marketing strategies along with market position of the enterprise
Market strategy is forward looking addition to long term approach that have fundamental
objective of attaining sustaining competitive edge. It is one of business game plan to reach
prospective consumers so to translate them into loyal consumers of the offerings of company. it
informs a marketing plan that is a document involving details about particular kinds of marketing
activities an organisation conducts as well as engrosses timetables to initiate wide marketing
activities. In relevance to Marks and Spencer, marketers uses wide number of marketing
strategies in form of business to business marketing addition to business to consumer marketing
(Marketing strategies, 2019). Below is the evaluation of certain marketing strategies that
marketers of Marks and Spencer adopt to promote its products:
Internet marketing: It is also known as cloud marketing which is effective tactic to
promote brand along with its commodities over internet with the help of tools that drives traffic
as well as sales demand. It involves wide techniques such as search engine optimisation and pay
per click for boosting brand awareness among the targeted population. The marketers of Marsk
and Spencer uses internet marketing for creating and delivering consistent content in order to
attract along with retain defined audience which drives profitable actions. By using the
marketing strategy, the retailer enjoys benefits of measuring together with tracking results for its
online campaigns (Hastings and Stead, 2017). The marketing strategy also helps in focusing on
efforts to attract new segments that resides in particular regions. However, limitations of the
marketing strategy include isolated experiences, limited actual presence and lots of confusions.
Relationship marketing: Another type of marketing strategy in which main focus is on
building addition to managing trusting as well as long term relationships with wider number of
consumers. The main aim of the strategy is for developing strong, emotional, trusted and loyal
customer connections with ongoing business that helps in generating leads. In existing situation,
one of critical issue faced by companies is grabbing new customers and managing relations with
them. For this regards, marketing team of Marks and Spencer adopts relationship marketing
strategy for developing long duration relations with targeted audiences rather than making more
product sales. Relationship marketing strategy benefits the company in creating loyal customers
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with lifetime values, reducing overspendings in advertising addition to market and making
stronger alignments of organisational practices with exceptional customer experiences (Vietoris,
2017). In contrary, demerits of relationship marketing includes time consuming tactics,
requirements of changes in organisational culture too, any wrong information can result in
ruining relationships with existing customers which becomes huge complicated for the business
concern.
As per mentioned information about evaluation of marketing strategies that are used by
Marks and Spencer, it is analysed that these strategies have huge role in making the company at
leading position. Through these strategies, the retailer has positioned itself as premium brand in
entire retail addition to supermarket sector. It has gained more than 10337 million GBP in last
year that helped in achieving top position within retail sector of United Kingdom and nearby
countries.
Proposal of two sets of marketing segmentation criteria
The marketing department of marks and Spencer is been asked by top management team to
design proposal that include two sets of market segmentation criteria that can be targeted in
upcoming duration successfully. In this regards, marketing team first analyses different
marketing segmentation and then presents two suitable proposals that are as follows:
Marketing segmentation
It is characterised as the procedure that divides the market population in different types of
meaningful segments as per marketing variables (Krishna and Schwarz, 2014). It is considered as
facilitator to identify specified consumer segments along with understanding their requirements
so that new commodities are offered or some changes are done in existing organisational
products as per acknowledged consumer demands. The segmentation types thet are made by
marketers of marks and Spencer are as follows:
Geographical segmentation: Herein, the entire market is grouped in accordance to
predefined geographical boundaries. Factors considered in this segmentation type engross
differences in values, preferences, demands and perceptions in different districts, regions and
countries. By using this, the company can introduce its products in entire new geographical
location.
Behavioural segmentation: In this type, population are divided as per their behaviour,
decision making patterns along with usage frequency (Lees-Marshment, 2014). By using this
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segmentation, marketers of Marks and Spencer can understand the ways in which customers gets
involved in decion making to purchase the products.
Demographic segmentation: It is common segmentation type wherein population are
segregated on the basis of age, income, gender and nationality. With this segmentation,
organisational marketers will be able to meet needs for products of specific demographic section
only.
Psychographic segmentation: Segmentation type in which citizens are grouped as per
their activities, opinions, lifestyles and interest in the offerings of company (Palmer, 2012).
Marks and Spencer can use the segmentation type for the purpose of devising suitable tactic to
serve needs of the people.
As per mentioned analyses, marketing manager has proposed to directors of Markers and
Spencer to adopt geographical along with demographic segmentation types. By targeting both
these segmentation types the company will be benefitted in expansion and growth. In this
regards, two market segmentation proposals sets for Marks and Spencer are below elaborated:
Proposals
First set of criteria: Geographical segmentation: The directors of the company have
been proposed to target geographical segmentation for expanding the business in uncaptured
area. With this, the shares of the Marks and Spencer will be increased that will lead to more
profits and huge sales demand. It is analysed that the retailer have no official presence on Latvia
country, so opening a store in the country is the most effective opportunity for taking the
company in new directions (Rowley, 2016). Prior to opening the store in the Latvia nation, it is
important to analyse preferences, choices, beliefs and interest of the population for the existing
offerings so that suitable marketing along with strategies in relation to products, pricing, place,
promotion, and so on can be framed promptly. As Marks and Spencer has achieved top position
in retail industry, it will be easier for it to target the segmentation successfully. The existing
marketing strategies will also play essential function in achieving benefits as well as satisfying
needs of targeted audiences by offering suitable commodities and other financial services.
Second set of criteria: Demographic segmentation: Another marketing segmentation set
that is proposed in front of Directors of the retailer is demographic segmentation in which
population will be targeted on the basis of age factor, income level, gender basis and occupation.
In this segment, marks and Spencer directors are proposed to launch new commodity which is
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Gym Essentials for people have are between the age of 15 years to 40 years. It is because there
people takes more care of their heath and aspects of fitness. In order to launch the clothing
commodity, marketers are required to collect information for customer purchasing behaviour in
order to meet demands addition to make positive image among targeted audiences (Smith and
Wong, 2016). With this segmentation types, there are more chances with Marks and Spencer to
reach wide consumers, improve market size, achieve growth and make competing position in the
retail market. By taking help of existing tactics along with top position, Marks and Spencer will
be able to target the segment in successful manner as marketing tactics will help population to
reach its stores and top position will influence consumers to make purchase of its high quality
gym wears.
CONCLUSION
As per the discussion in above report, it has been concludes that marketing assessment is
all about extensively analysing market trends, opportunities, competition, organisational
resources, risks addition to constraints in objective as well as detailed manner. Effective
marketing assessment is considered as cornerstone for the business growth and expansion. It
helps in evaluating all the external market along with internal resources so to assess opportunity,
behaviours of customers while purchasing and many more. Marketing audit is conducted with
the help of two tools that are PESTLE analysis for external marketing environment and SWOT
analysis for the purpose of internal environmental audit. Relationship marketing and internet
marketing are the marketing strategies that the company uses in present scenario to contact with
various number of customers. Demographic and geographical segmentation are two
segmentation types that could be successfully targeted by the enterprises.
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REFERENCES
Books and Journals:
Armstrong, G. and Et. Al., 2015. Marketing: an introduction.
Baines, P. and Et. Al., 2017. Fundamentals of marketing. Oxford University Press.
Burgess, S. M. and Steenkamp, J.B.E., 2013. introduction to the special issue on marketing in
emerging markets. International journal of research in marketing. 30(1). pp.1-3.
Burns, A. C., Bush, R. F. and Sinha, N., 2014. Marketing research (Vol. 7). Harlow: Pearson.
Deepak, R. K. A. and Jeyakumar, S., 2019. Marketing management. Educreation Publishing.
Fahy, J. and Jobber, D., 2012. Foundations of marketing.
Fill, C. and Turnbull, S. L., 2016. Marketing communications: brands, experiences and
participation. Pearson.
Giovanardi, M. and Lucarelli, A., 2018. Sailing through marketing: A critical assessment of
spatiality in marketing literature. Journal of Business Research. 82. pp.149-159.
Hastings, G. and Stead, M., 2017. Social marketing. Taylor & Francis.
Krishna, A. and Schwarz, N., 2014. Sensory marketing, embodiment, and grounded cognition: A
review and introduction. Journal of consumer psychology. 24(2). pp.159-168.
Lees-Marshment, J., 2014. Political marketing: Principles and applications. Routledge.
Palmer, A., 2012. Introduction to marketing: theory and practice. Oxford University Press.
Rowley, J., 2016. Information marketing. Routledge.
Smith, L. C. and Wong, M. A. eds., 2016. Reference and Information Services: An Introduction:
An Introduction. ABC-CLIO.
Vietoris, V., 2017. Introduction to sensory marketing. In Sensory and aroma marketing (p. 160).
Wageningen Academic Publishers.
West, D. C., Ford, J. and Ibrahim, E., 2015. Strategic marketing: creating competitive
advantage. Oxford University Press, USA.
Online:
Marketing strategies. 2019. [Online]. Available through: <https://www.yodiz.com/blog/8-types-
of-marketing-strategies-and-definition/>
Tools to conduct marketing audit. 2020. [Online]. Available through:
<https://www.sitepoint.com/tools-for-conducting-a-marketing-audit/>
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