Introduction to Marketing Assessment

Marketing

INTRODUCTION
Marketing refers to the use of different activities which are useful in ensuring that the
final product is able to reach the prospective customer and therefore it is important that the
companies are able to make the required improvements in their marketing so that they can ensure
that they are able to attain the future goals and objectives in a better manner (Ali and Anwar,
2021). Organizations should bring regular innovations in their marketing strategy which will
help them in targeting the customers quite appropriately and therefore ensure that the attainment
of the future goals and objectives can be done in a proper manner. For this report, Marks &
Spencer has been chosen. It is a British Retail Company which provides a wide variety of
products and services to the customers in the market. In this report, a detailed and specific
discussion will be made on the ways in which Marketing can help the Businesses.
MAIN BODY
Marketing Audit refers to a type of investigation which is required to be done so that the
assessment of the needs and requirements of the different types of customers can be done so that
the enhancement in the overall level of profitability can be done which will help in maximizing
the returns in a proper manner (Chatterjee and Kar, 2020). Marks & Spencer is a company which
has to identify the way in which it can attain a strategic and competitive edge in the market over
the competitors so that it is able to attain a higher-level of efficiency and effectiveness in its
operations.
For this purpose, it is quite important that the assessment of the current marketing
strategy of the Business can be done (Chou and et.al., 2020). This can be done in the following
manner-
Product- M&S provides a lot of retail products to the customers in the market. These
cater to a wide range of needs and requirements of the customers which therefore helps in
ensuring that they can effectively and efficiently ensure that they can attain their future goals and
objectives.
Price- M&S make use of Competitive Pricing Strategy in which it assesses the price
which is being used by the competitors regularly and therefore sets the price of its products
accordingly so that the enhancement in the overall level of profits can be done quite effectively
and efficiently.
Place- M&S has its stores which are located all over the world which therefore ensures
that the different types of customers in various areas can be targeted effectively and efficiently in
a proper manner.

Promotion- M&S makes sure that through making the use of aggressive promotional
strategies it is able to ensure that it can attain its various types of goals and objectives in a proper
manner.
Market Position- M&S has a very strong position in the market of U.K. It also has
consolidates its presence in the various countries across the world where it is giving a tough
competition to its wide range of competitors in the market (Donthu and et.al., 2021). Therefore,
in this way it can be said that the management of M&S needs to make sure that through making
the use of its strong market position in the market it is able to make sure that it can attain the
future goals and objectives quite effectively and efficiently in a proper manner. The market
position of M&S also allows it to ensure that it is able to identify the way in which can
strategically place its different products and services so that higher-level of profits can be
generated and therefore the maximization of the revenues can be done in a right way.
Market Segmentation- Market Segmentation is the practice of segmenting the market
according to various criteria so that the enhancement in the overall level of profits can be done in
a right manner quite effectively and efficiently. M&S also has to ensure that it makes its use so
that it is able to make sure that it can segment the market in a proper manner quite effectively
and efficiently (Dwivedi and et.al., 2020).
M&S is a Brand which attracts the attention of the various types of customers in the
market. Therefore, in this way it can be said that it will be able to make sure that it is able to
attain a higher-level of efficiency and effectiveness (Rust, 2020). For growing and expanding in
the market, it has to ensure that it segments its market according to the criteria of age group of
the customers. It will conduct a Market Research on two groups of customers- Young Customers
& Middle-Age Customers. Therefore, in this way it will be able to understand the specific needs
and requirements which these customers have in the market and will be able to make sure that
the use of the right methods and techniques can be made so that these needs and requirements
can be met in a proper manner quite effectively and efficiently.
Use of Questionnaire- Questionnaire is a technique which can be used as a part of
Market Research which is being conducted. This is so because in it there are several questions
which are present which can be asked to the different types of customers and therefore
accordingly the conclusions and recommendations can be drawn in a proper manner. Thus, by
making its use the organizations can ensure that they are able to progress in the market in a right
way which will help them in attaining the goals and objectives. Thus, it is recommended to the
managers of M&S that its use should be made so that the company can frame right strategy for
making progress in the future (Dzwigol, 2020).
The Questionnaire which will be used by the company to target Young Customers is as
follows-
Question 1- Do you think that M&S has a good Brand Image in the market?