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Introduction to Marketing Assignment Sample (Doc)

   

Added on  2021-02-19

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INTRODUCTION TOMARKETINGASSESSMENT

Table of ContentsINTRODUCTION...........................................................................................................................3TASK ..............................................................................................................................................3SWOT and PESTLE of Marks and Spencer...............................................................................3Marketing strategy .....................................................................................................................7Market positioning .....................................................................................................................8Market segmentation...................................................................................................................9Understanding of buyer behaviour............................................................................................10CONCLUSION .............................................................................................................................11REFERENCES..............................................................................................................................13

INTRODUCTIONMarketing assessment refers to the detailed evaluation regarding the new product, ideaand investment also it evaluates the different environmental and identifies entry barriers, marketrisks, resources as well as opportunities in the competitive market.Marks and Spencer is the British global enterprise and retailer which was established inthe year 1884. its headquarters are situated in Westminster, London. The founder of the companywas Michael Marks and Thomas Spencer Marks and Spencer deals with the clothing, homeproducts and food products. This company is listed under London stock exchange and it is spreadin worldwide(Adeyinka-Ojo and Nair,2016).The report will include marketing assessment regarding the business performance andevaluating the company's present marketing strategy and position in the market. Further it willalso include the market segmentation and suitable marketing research as per the understanding ofthe buyer's behaviour in order to meet the customer needs and requirements in the competitivemarket.TASK Marks and Spencer is one of the leading retailers of UK which deals with the best qualityclothing and food products and provides best financial services. Marks and Spencer have therecord of its profitability and it is known for selling best and innovative kind of products atreasonable price which fulfils the needs and expectations of the customers. With the help ofSWOT and PESTLE analysis Marks and Spencer will able to audit the factors that can impact onthe performance of the company internally as well as externally that will help company toidentify the changing environment in order to achieve the competitive advantage(Gretzel andet.al., 2016).SWOT and PESTLE of Marks and SpencerSwot analysisSWOT analysis is the strategic techniques used by the Marks and Spencer company inorder to analyse the situation of the firm. It includes the company's Strengths, Weaknesses,Opportunities and Threats that is faced by Marks and Spencer in the current market. It is theprocess where Marks ans Spencer need to coordinate among different departments withinorganisation like marketing, finance, information, management.

STRENGTHS Marks and Spencer have various strengths that enables the company not only in protecting themarket share but also to penetrate in the markets which are new. Strengths of Marks and Spencerare:-It has strong cash flows that helps the company to provide the resources in order toexpand in the new projects.Company has successful and strong track records regarding the innovation of theproduct.Company also have strong track records for combining the firms which arecomplimentary as well as integrated technological companies and also have build strongsupply chain.Organisation have build strong portfolio regarding the brand in the past years and thestrong portfolio can help the company for expanding in new categories of products.With the emergence of new technologies Marks and Spencer has improved its qualityconsistently that has enabled the company to fulfil the demand conditions as per themarket. Company has good returns on investment by executing in the upgrading projects as wellas it has build the revenues. Organization has strong and successful marketing strategies for its products (Zhechev,2016).Marks and Spencer has become expertise because of the entrance in the new markets thathas not only increased the revenue but also has helped in diversifying the risk in themarkets.WEAKNESSESThere are some weaknesses of Marks and Spencer that can be improved in order toachieve competitive advantage. The weaknesses are such:-Marks and Spencer need to invest more in the new technologies that can help thecompany in expanding in different geographic regions that the company has planned inorder to integrate at international level.

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