Introduction to Marketing

INTRODUCTION TO
MARKETING

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Marketing audit of Mark and Spencer current performance ......................................................1
Current market strategy and position in the market space..........................................................3
Proposal of Two sets of market segmentation that successfully targeted by Mark and Spencer4
Recommendation in order to justify chosen marketing strategy among two set proposals........9
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing is a set of activities of any company which has been utilised in order to
promote the selling and purchasing of goods and services. It is one of the preliminary and
significant element of administration management and trade. Each and every organization have
their own and different way of doing marketing through which they direct their products and
services either through other business firms or directly to the consumers. The basic purpose of
marketing is to educate others about the product, capture attention of consumers and covert leads
into purchase (Balducci and Marinova, 2018). It is the most crucial action for any company in
order to ensure their long term and ever present relationship with their audience.
This report is about the marketing audit of Mark and Spencer in which the study will
highlight the current business performances along with recent marketing strategies as well as the
position of the firm within the market space. Apart from this, the work will also demonstrate the
understanding of buyer behaviour along with market strategy justification.
MAIN BODY
Marketing audit of Mark and Spencer current performance
Marketing audit is a systematic analysis of commercial enterprise market in both
internal and external environment of any establishment. Mark and Spencer is one of the leading
retailer firm headquartered in London (Philip, 2017). The company offers wide range of
products including clothing, home appliances, luxurious food substances, etc. In order to
complete market audit in both internal and external environment SWOT ans PESTLE analysis
has been done to complete market audit.
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Strengths
 Powerful offerings with current
manufacturing trends.
 Strong electronic commerce
infrastructure.
 Completely focused on increasing
consumers purchasing experiences.
 Most effective corporate social
responsibility.
Weaknesses
 Not that much good financial
performance of the firm.
 Company is highly reliable only on UK
market make it defenceless to other
market conditions.
 Frequent changes in items leads
towards loss of customers confidence.
Opportunities
 Plans to invest in other markets as well.
 Company's online presence will
enhance the market position of the
firm.
 Reshaping their clothing segment.
 Needs to be simplified version of
operating model.
Threats
 Depreciation within the market after
introduction of Brexit.
 Stiff competition in UK food market
sector.
 Continuous change in clothing trends.
PESTLE Analysis
Political
 Decreasing sourcing costs due to fair
trade policy.
 Brexit highly effects the business
activities.
 Change in taxation and government
policies.
Economic
 Struggle with other competitive firms
in context of product prices due to
Brexit.
Social
 Continuation of product modifications
creates negative social trends.
 Received false interpretation as non-
Technological
 Utilisation of advanced technology in
order to strengthen the security,
compliance and risk management of the
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