Introduction to marketing assignment | Marks and Spencer

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Introduction to marketingassessment
Table of ContentsINTRODUCTION...........................................................................................................................1Marketing Audit...............................................................................................................................1Marketing strategy......................................................................................................................4Marketing research:.....................................................................................................................5Marketing segmentation:.............................................................................................................7Buying behaviour of consumers:................................................................................................9Recommendation:............................................................................................................................9REFERENCES..............................................................................................................................11
INTRODUCTIONMarketing is the process through which a firm can spread the information about itsproduct in market to encourage the potential buyers to buy the product or services. It is theresearch function which links the consumer or buyer to marketers by identify and definemarketing opportunities. It is the business process of creating a satisfying customer relationship.This report is based on Marks and Spencer (M&S) which deals with the retail chain stores ofquality cloths and food items. It was founded in 1884 in London. The organisation is also beganto sell branded goods. In current the company has around 960 stores arccos the United Kingdom(West, Ford and Ibrahim, 2015). The purpose of making such report is to determine the currentmarketing strategies adapted by Marks and Spencer and making evaluation of business's currentperformance in the market. This report discusses about the market segmentation of M&S alonewith chosen market group which can helps to grow the firm in market.This report will showsthe buying behaviour of customers and various marketing strategy adapting by the firm to meetsthe requirement of segments.Marketing AuditMarketing audit is refers to the interpretation of systematic analysis of businessmarketing. It is the comprehensive examination of activities done in the marketing(West, Fordand Ibrahim, 2015). The factors which are considers in marketing audit are competitors,distributors, market etc.SWOT ANALYSIS:Strengths:Marks and Spencer is a leading retailer company with its own brand label and has createdexcellent brand image in the market which is very easy to recognise(Alon and et.al.,2016).Firm is offering wide range of popular, trendy and high quality designer product and ishighly involved in online business.Multiple numbers of stores of the company are available throughout the world.Weaknesses:1
Marks and Spencer has limited availability of the stock for marketing. Organisation isavailing brands at very high prices which leads into limited share in the market(Dauntand Greer, 2017).The retail company is also facing high competition at international level from otherpopular retail brands.Opportunities:Marks and Spencer can expand its business by investing in more countries(Conrad,Harmon and Brown, 2015).Online presences of the firm is bolster its market position.Threats:33Due to international presence, organisation gets exposed with multiple governmentpolicies of different countries hence, it gets highly affected by the change in governmentpolicies(Sheth and Sisodia, 2015).33Marks and Spencer is also threatened by the availability of other international popularretail brands because other companies are becoming obstacles for business expansion andalso increasing high competition in the market.PESTEL ANALYSIS:Political factors:Marks and Spencer is highly affected by the alteration of the government and their lawssuch as taxation policies due to which expenses of the company increases(Boyd andKoles, 2019).Free trade strategy of the country's government has also affected the company byminimising its sourcing costs and raising its profit margins.Economic factors:Marks and Spencer is using high quality resources, hence offered goods and services hashigher prices while lower or discounted prices of the competitive retailers has a very high2
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