Introduction to Marketing (Doc)
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Added on 2020-11-23
Introduction to Marketing (Doc)
Added on 2020-11-23
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MARKETING
EXECUTIVE SUMMARYMarketing is important business function that needs to be performed by every businessenterprise in for attract its potential and target customers towards products and services. Presentreport is based on analysis of clothing business of Marks and Spencer, which is major retailbusiness enterprise of UK. There are various like increases in tax burden and increase inflationhas reduced its customers base and sales in market as compared to competitors. However, toreduce the issues organization needs to reduce its prices of products and implement effectivepromotional tools for reducing its cost of operations.
TABLE OF CONTENTSEXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION...........................................................................................................................1Objectives........................................................................................................................................1Market situational analysis..............................................................................................................1Target market...................................................................................................................................5Segmentation....................................................................................................................................5Marketing mix strategy....................................................................................................................7Implementation and control.............................................................................................................8Budget and Sales projection.............................................................................................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTION Marketing plan is analysed as road map that clearly provides direction to organizationsand its management towards reaching to business objectives. Present report is based on analysisof clothing business of Marks and Spencer, which is major retail business enterprise of UK. Inorder to achieve growth, removing the cost and simplifying the business, marketing plan isdeveloped to comprehend the growth of business and determination of strategies that needs to beapplied for accomplishment of objectives (Brooks and Simkin, 2012). In this context, asmarketing consultant situational analysis of M&S clothing business is accomplished to analysethe factors that affects its business growth and profitability in market. External analysis is donethrough application of PESTLE model and internal analysis is done by using Swot analysismodel. Consumer’s behaviour and competition in clothing sector for M&S is also discussedalong with the target market of organization. Further, marketing mix strategy of organization isalso determined along with the implementation and control of strategies.ObjectivesTo increase the profitability of clothing business by 20% in next quarter.To increase the total sales of clothing business by 2.3 billion by year 2017.Increasing number of customers by reducing the cost of operations.Increase average length of customer relationships and decrease customer turnover.To merge the retailer's womenswear and kids wear teams. Reducing the cost of operations for removing pre tax burden on consumers.To restore its price position by investing in everyday price and reducing the number ofpromotions and sales (Haverila and Ashill, 2011).Increase in number of online shopping customers by 7.4 million.To increase the sale in international by business by 2 percent in next three years.Market situational analysisSituational analysis is accomplished with an aim to determine the competitors andinfluences of internal as well as external market on business operations of M&S. In this context,marketing plan is also developed with an aim to analyse problems faced by organization due tothese major factors (Pike, 2015). These factors will also help in identification of measures thatneeds to be taken by organization for resolving those problems in market. M&S is the UK’Sleading clothing retailer but it has now faced the competition in clothing sector from one of the1
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