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(Solution) Introduction to Marketing Assessment

   

Added on  2020-12-26

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Introduction toMarketingAssessment
(Solution) Introduction to Marketing Assessment_1
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Marketing audit of the company..................................................................................................1Evaluation of organisation's current marketing strategy and position in the market...................4Proposal of two sets of market segmentation criteria which could be successfully targeted bybusiness........................................................................................................................................6CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
(Solution) Introduction to Marketing Assessment_2
(Solution) Introduction to Marketing Assessment_3
INTRODUCTIONMarketing assessment can be defined as the process of analysing different aspects ofbusiness in which competition, risks, barriers, internal and external environment are analysed inorder to formulate strategies for future which can help to attain organisational goals. Topmanagement of organisation is responsible for appropriate execution of all activities which arerelated to marketing functions so that large number of customers get aware of products that aresold by company (Anda and Temmen, 2014). Main aim of this report is to analyse importance ofmarketing strategy for business entities in order to achieve predetermined objectives.Organisation which is selected for this report is Marks and Spencer which is one of the largestBritish Retailer mainly established in Westminster, London, United Kingdom. It was founded byMichael Marks and Thomas Spencer in year 1884.This report covers various topics such as evaluation of organisation's current marketingstrategy and position in market. Along with this, proposal of two sets of market segmentationcriteria which can successfully targeted by company is also included in this report.MAIN BODYMarketing audit of the companyMarks and Spencer is one of the most successful organisations in world which areoperating business activities at global level.. The audit is as follows:Marketing audit: The process in which systematic, comprehensive and detailed analysisof an organisation is conducted which helps to get an insight into actual performance of business.For this purpose, marketers and managers conduct internal as well as external analysis whichguides them to formulate strategic decisions for betterment of enterprise. Different types of toolsare used to conduct analysis such as PESTLE, SWOT etc. Both of them are analysed below:External environment:The forces which are available outside the organisation andleave negative impact upon operational efficiency are known as part of external environment.While conducting market audit is vital to analyse it in order to get information regarding actualstatus of company. PESTLE analysis is a tool which is used to analyse it. It consists six differentelements which are known as macro environmental factors and help to determine impact of all ofthem on business's performance (PESTLE analysis, 2016). All of them are evaluated bymarketing department of Marks and Spencer and evaluation is as follows:1
(Solution) Introduction to Marketing Assessment_4

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