Introduction to Marketing

Introduction to marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Marketing audit of current business performance.......................................................................1
Evaluating current marketing strategy along with position of company in market.....................5
Proposal of two sets of market segmentation criteria..................................................................6
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................1

INTRODUCTION
Marketing is one of business process that involves managing exchange relationships. It is
the combination of all those activities that are undertaken for promotions of purchasing along
with selling concrete items and immaterial services (Armstrong and Et. Al., 2018). It generally
comprises advertising, selling and providing goods to final consumers and other types of
businesses. For understanding introduction to marketing, Marks and Spencer is considered which
is leading British retailer having head-office at London, Unite Kingdom. It works for bringing
quality of clothing and home-ware, great value food and so on for customers residing around the
world. The present report involves marketing audit of existing business performance, evaluation
of enterprise marketing strategy along with position in market. Further, it includes proposal
related to two sets of market segmentation that can be targetted by company in successful
manner so to meet requirements of segments and moving business forward.
MAIN BODY
Marketing audit of current business performance
Organisational overview
Marks and Spencer is multinational retailer which perform operations for bringing great
value clothing, foods and many products. It was established by Thomas Spencer addition to
Michael Spencer in 1884 for serving activities in retail industry (Marks and Spencer, 2020.). It
has approx 1400 stores in more than 55 countries and around 50 international websites. Along
with this, the company provides wide types of financial services such as current account,
insurance, credit card facility and so on.
Marketing Audit
Marketing audit is described as a tool that is used for undertaking, reviewing and
examining marketing environment in comprehensive and systematic manner. In other words, it is
a evaluation technique which is undertaken for analysing, evaluating together with interpreting
internal and external marketing environment for ascertaining problem areas, opportunities and
plan of action with the purpose of enhancing business performance (Avraham and Ketter, 2016).
Through marketing audit, plans, objectives, tactics, current activities and strategies are reviewed
that provides insights about actual business performance in current scenario. For this purpose,
organisational members conducts internal addition to external analysis that further directs in
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