Introduction to Marketing: Models and Frameworks for Effective Strategies

Introduction to
marketing
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Table of Contents
Introduction.....................................................................................................................................3
Task 1 .............................................................................................................................................3
i. Defining marketing..............................................................................................................3
ii. Extended marketing mix....................................................................................................3
Task 2 .............................................................................................................................................4
i. Swot analysis.......................................................................................................................4
Task 3 .............................................................................................................................................4
i. Defining Ansoff's growth matrix.........................................................................................4
ii. Explaining how Ansoff’s matrix can be used to by an organisation to analyse their growth 4
Strategies................................................................................................................................4
Task 4 .............................................................................................................................................5
i. Discussing how an organisation can use digital marketing to improve performance and
growth.....................................................................................................................................5
Conclusion.......................................................................................................................................5
References.......................................................................................................................................7
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Introduction
The term marketing refers to the process and activities performed by an organisation to
promote its goods and services for the purpose of sales and profit maximisation. The process of
marketing is associated with formulation of effective strategies and tactics adopted by an
organisation to induce their customer base. In this report, various models and terms related to
marketing are broadly discussed in context to an organisation. The chosen organisation for this
report is Marks & Spencer, which is a leading British multinational retail brand headquartered in
London, united kingdom. It specialises mainly in clothing as well as food products and home
appliances. The company is operating worldwide indicating its high market presence and
renowned brand image. In this report marketing mix, SWOT analysis, Ansoff's growth matrix
and significance of digital marketing is being discussed.
Task 1
i. Defining marketing
It is a process to sell and promote goods and services to its target market in order to earn
profit. Other than selling and promoting goods and services it also involves other aspects like
product distribution, designing, promotion and creating. The purpose of marketing is to research
and analyse consumer buying habits, sent out surveys, taking feedback, communicate with
buyers about their needs and wants (Donthu and et.al., 2021). Its principle is to identify ideal
customers, draw their attention towards products and services available.
ii. Extended marketing mix
Marketing mix refers to the seven core elements which are crucial to determine for
evaluating growth and position of a business in the marketing. The seven p's of marketing mix in
context to Marks & Spencer are discussed below:
Product: It refers to the commodities that a business sell in order to cater to the requirements of
customers (Deepak and Jeyakumar, 2019). In context of M&S, main product of the brand
includes a wide range of clothing materials along with style accessories consisting of handbags,
footwear, jewellery, sunglasses etc. the company also deals in providing home appliances as well
as food and wines along with flowers and gift items.
Price: The pricing strategies of the company follows an approach of categorising its products on
a medium to higher price range. The brand's primary customers are individuals of medium to
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