M&S Marketing Strategies: Audit, Segmentation and Market Growth

This report provides a comprehensive marketing audit of Marks and Spencer (M&S), evaluating its current market performance, strategies, and market position. It proposes two sets of market segmentation criteria to enhance business success, supported by research on customer groups and their potential for retail market growth. Furthermore, the study analyzes buyer behavior, justifying marketing strategies designed to meet customer requirements and drive business expansion. The report concludes by summarizing the key findings and recommendations for M&S.

INTRODUCTION TO MARKETING

Table of Contents
INTRODUCTION...........................................................................................................................1
Task..................................................................................................................................................2
Marketing audit for current performances of M&S.....................................................................2
Evaluation of current marketing strategies of M&S along with their position in market............3
Proposal of two set segmentation of market criteria for business of M&S.................................5
Research justifying chosen customer group for growth of business in retail market..................6
Buyer's behaviours research justifying marketing strategies to meet customer requirement and
help grow business.......................................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCE...................................................................................................................................8

INTRODUCTION
Marketing is a business activity undertaken by a firm for the purpose of promotion for
buying and selling of their products along with services. Activity of marketing includes
advertising, 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 by
Michael Marks and Thomas Spencer running its business operations in 1463 locations
worldwide. The report will summarize marketing audit of current performance of business along
with evaluation company's current position in market and their market position. Further report
will address proposal for two set criteria for market segmentation for success of business along
with justifying research for how these customers group help grow business in retail. Finally, the
study will summarize behaviour of buyer along with several researches justifying chosen
marketing strategies coping up with business growth or not.
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Task
Marketing audit for current performances of M&S.
Marketing audit refers to systematic, comprehensive, evolution, analysis and
interpretation of marketing environment of business (internal and external) along with its goals,
strategies, objectives principles to identify areas of problem along with opportunity to modify
plan for business accordingly (Armstrong and et.al., 2018). M&S hold the record of profitability
and 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. Current
performances of M&S will include –
Campaign reach
Campaign reach is the statistics of advertising and analysing media in a given period. The
reach of brand to their dedicated consumer will promote the business and even can generate
business further. The current marketing practices of M&S have evaluated their each towards
customers in their desired and dedicated market based on the impression they left on people for
the purchase and use of their products and services such as M&S figure out the impression of
product after the marketing practices along with number of followers they gained through their
act by evaluating sponsored posts along with traffic in their websites and applications along with
generation of enquiry will justify the efforts of marketing practices of team of Marks and
Spenser (Baker and Saren, 2016).
Market share
Identifying market share is the practice of evaluating amount of share potentially owned
by particular company. The marketing practices of M&S will help them generate business will
help justify business performances of M&S to identity weather their business activities are
operated in well systematic manner along with amount of energy and enthusiasm their marketing
people serve compared to increase or decrease of sales will justify their business practices
(Baker, 2016).
Overall financial performances
Financial performances of M&S in terms of generation of funds along with availability of
assets, the money and available funds with firms for any further business expansion will be
justifies according to their availability. Marketing department is overall responsible for
promotion of brand along with withdraw of business from the markets. The evaluation of overall
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financial health of M&S over a period will justify their practices and effort in business type and
help them gain competitive advantages over other (Eckhardt and et.al., 2019).
Revenue generated
Revenue generation is basically business operation performed for the purpose og
generating income and source for people to perform their business activity further and maintain
standard of living. Marketing activities of Marks and Spenser will be judged for their effort and
practices based on the revenue they have generated by the effects and business activities that will
further help them grow their business and further help them boost the marketing team by
appreciating them along with boost up compensation for their efforts and practices for business
operations. The amount of business generated based on geographical locations of this diameter
will justify effectiveness of marketing activity as the ultimate objective of marketing practices of
Marks and Spenser is to generate more and more business by the passage of time (Feng, Morgan
and Rego, 2015).
These practices in general will help identify practices of marketing activities combine to
justify the performances of business type to identify the needs and demand in market conditions
as well (Gupta and et.al., 2016).
Evaluation of current marketing strategies of M&S along with their position in market.
Current market strategies of Marks and Spenser can be evaluated by the use of 7 P's
practices of the firms.
Product
Marks and Spenser current product strategy states M&S as popular retail chain in UK as
it deals in wide context of products for all age group including men, women and kids. Products
for women include jeans, linen, cardigans, shirt, skirt, blazers, cashmere along with their range in
footwear including pumps, heels, sandals, boots, loafer, etc. The brand also offer wine and food
such as lunches and dinners, starters along with flowers and gifts items, which they sell in their
home brand rather than selling outside (Haider and et.al., 2019).
Price
Marks and Spenser by the use of competitive pricing strategy for their marketing mix
activity having its own clothing for segmented men, women and kids. Prices for these brands are
categorized in a manner of high to low manner based upon quality of their products. Due to the
increase in competition implication of pricing policy in business help them to sustain in market.
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The applicability of dynamic pricing policy for M&S will provide discounts and offers to their
customers in order to clear their old stock and make arrangement of funds and space for up
dation of their stock (Katsikeas and et.al., 2016).
Place
Being an international brand Marks and Spenser has more than 1000 stores around 50
countries. And around 850 stores running their business operations in UK. Also they possess 50
plus stores operating their business operations in India. Countries like Spain, Turkey, Hungary,
Finland, etc are having Marks and Spenser online delivery system where they buy products from
home and receive delivery at their door steps. Several of limited products of Marks and Spenser
fall in line of international delivery (Kotler and et.al., 2015).
Promotion
Marketing strategy of M&S by campaign advertisement through digital marketing along
with several practices of strategies in stores. They tend to practice very basic procedures for
communicating their brand and product such as TV ads, social media campaign, print media etc.
Customers develop their interest in products of Marks and Spenser by several advertisements and
pop up from these media types. The brand runs loyalty programme to providing several points to
their customers for further spending them for shopping purposes resulting in increase of their
business practices (Kotler, Kartajaya and Setiawan, 2016).
People
With a attractive employee count of 83000 people working for 1000 stores in 50
countries employees are the greatest assets that Marks and Spenser possesses where they follow
competitive pay policy to retain them for their business operations. Employees of M&S are
provided with additional and effective discounts in their stores or even online purchasing.
Employees are benefited with pension schemes, life insurances, health insurances along with
several share benefits of M&S. The company also provide working hour support along with
training for employees for their effective working conditions (Martin and Murphy, 2017).
Process
Marks and Spenser stores are beautiful and organized properly where they have
segmented store floor into three sections for men, women and children for convenience of people
visiting their stores. Customer's of M&S can also make their purchase on M&S online stores to
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enjoy convince along with benefits of several reward points as a part of their loyalty programme
(McDonald and Wilson, 2016).
Physical Evidence
Marks and Spenser dealing in wide range of products equipped it's stores with wide range
for accessories, flowers, gifts and furniture. Along wit that company also possess website to
provide delivery system to their customers.
Proposal of two set segmentation of market criteria for business of M&S.
Market segmentation criteria used in business activities of Marks and Spenser.
Demographic market segmentation
Demographic market segmentation focuses on people aspect of business. The
segmentation of market is based on family size, gender, age etc. that may be interest in using
products of Marks and Spenser for befitting their customers along with boosting of their business
operations, as needs of and wants of people are mostly not related among demographical
variables. The applicability of these practices for marks and Spenser will lead to focusing on
ranging their products and maintaining the shares based on the demographic size of families and
their requirements of clothing and footwear respectively. To perform business operation in
various places and demographical areas marks and Spenser will device its strategies to gain
competitive advantage for the sale of their products and generate sales for the purpose of gaining
competitive advantage among s customers preferences and priorities as well (Pieters and Wedel,
2017).
The applicability of these practices in business operations will lead to uncomplicated and
easy use for type of business operation in Marks and Spenser along with focusing their practices
on people who are willing to buy their products and use their services for further use and in daily
life. The occurrence of these practices will lead to help Marks and Spenser develop outreach for
their organizations benefits and their practices for further development as company can further
focus on particular products that is liked by people or are available in there areas of operations
will justify the learning of Marks and Spenser and manage their operation activity accordingly to
operate their business activities (Rogers and Davidson, 2015).
Geographic market segmentation
Geographic market segmentation is the process of segmenting the market based on
geographical variables based on regions, states, nations, neighbourhood and even cities. Marks
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and Spenser to segment their market type will consider factor of geographic in nature to address
the policies, working condition, availability of business processes along with the factor of
availability of labour in such a particular area and demographies for operational activities in
working condition of Marks and Spenser in the region to manage working conditions of their
process. The practices further include government policies, boundation of laws and other
regional practices among the nations for regulation business operations for Marks and Spenser
(Wedel and Kannan, 2016).
The applicability of these practices will lead to effective use of Marks and Spenser as it
operate business operations in various states and places that lead to effect in attributes of location
based focusing on specific target to establish their feet in place to manage business operations
along with effective marketing practices to will justify needs, wants along with their
characteristics of culture came into effect to boost up practices and diversities of marketing and
it's type. International media outlet further address popular culture in different countries along
with several geographical regions to address different celebration, trends and other geographical
occurrences in the process (Wierenga and Van der Lans, 2017).
Research justifying chosen customer group for growth of business in retail market.
The applicability and use of demographic market segmentation and geographical market
segmentation will help develop business activities of Marks and Spenser assuring the growth of
business in retail market.
Demographic market segmentation
The practice of demographic market segmentation in business operation will ensure
growth of business type through various ways. The type of criteria will follow factors such as -
 Education level of an individual, learning, knowledge plays a vital role in addressing or
assuming growth of business operation in any region as it justifies the buying capacity
and habits of people based on the mentality of the region will help business plan their
activities for operating their business type (Zhang and et.al., 2016). The segmentation of individuals based on their incomes along with market Marks and
Spenser deals in different range of products based on incomes to un necessary not
promote their articles to un necessary audience to ensure their business activity are
always into right direction and earn competitive advantage among their rivals in market
dealing in same products and services (Armstrong and et.al., 2018).
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Geographic market segmentation
The practice of geographic market segmentation in business will help business operations
of Marks and Spenser to identify scope of growth for their commercial activities.
 Segmentation of consumer based on living characteristics will justify business activities
of Marks and Spenser in a way that they identify people based on rural, suburban and
urban areas to develop and deploy articles and products to ensure that they are
successfully in attainment of market through their effective practices and gain
competitive advantage in their business among their rivals as well (Zikmund and et.al.,
2017).
 Operational activities of Marks and Spenser based on geographical condition will help
them attain targeted consumers as the messaging made from the firm to targeted people is
specific and will help attain their attention through different messages according to
differences in interests, language, interest and attributes thus will help develop business
policies to address and promote their products for targeted audience (Kotler, Kartajaya
and Setiawan, 2016).
 Availability of products and services from round the world Marks and Spenser operating
in different segmentation of market ideologies will promote itself highlighting wide range
of products and will finally make their way in defined and justifies market as expected to
earn competitive advantage among their own business type (Wierenga and Van der Lans,
2017).
Buyer's behaviours research justifying marketing strategies to meet customer requirement and
help grow business.
The applicability of demographic market segmentation for Marks and Spenser will lead
their decision making of buyer in various aspects such as -
 Products of Marks and Spenser based on different income segments will lead the
customers with wide range of products for purchase so that they make right decision at
the time of purchase of articles of Marks and Spenser and spend their hard earned money
in productive things (Feng, Morgan and Rego, 2015).
 The availability of products based on people's mentality and type of product or service
they are expecting to possess according to society will justify the research of Marks and
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Spenser to develop and serve products accordingly to make their like comfortable and
easy.
 The availability of different range according to preferences of consumers in business
activities of Marks and Spenser will gain preference of customer by providing them what
they need and asked for (McDonald and Wilson, 2016).
Whereas applicability of geographic market segmentation of Marks and Spenser will
affect requirement of customer and help in growth of business operation.
 The division segmentation of products of Marks and Spenser based on rural, urban and
sub urban ensured effective practices by the firm as they are successfully selling the gods
in targeted maker resulting in effective income for Marks and Spenser.
 Marks and Spenser making wide range of products available for customers helped them
gain consumer loyalty as people tend to make these practices by purchasing from these
store. The firm is benefited by enormous footfall that resulted in growth of business by
generating effective sales and serving company with attractive profits (Rogers and
Davidson, 2015).
CONCLUSION
The above study reflected marketing audit programme for Marks and Spenser for
managing performances of employees by identifying revenue generation, current and early share
price, overall financial resources along with responses from their campaign to identify
effectiveness of their marketing programme. Further use of 7 P's of marketing address their
positing in market as their strategy. Further the report reflected demographic and geographic
segment criteria for evaluating marketing criteria for Marks and Spenser. The study also
reflected justification of demographic strategy for business promotion in home land along with
geographic strategy to generate business opportunities throughout the globe. Finally, the report
reflected applicability of demographic market segmentation that focus on ensuring society is
served with articles and products they have asked for along with trend in culture and
geographical market segmentation ensuring customer loyalty by serving in dedicated area along
with focused dedicated market so company's tend to earn income higher than expected.
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