Introduction to marketing assessment

Introduction to
marketing assessment

Table of Contents
INTRODUCTION ............................................................................................................................3
Background of the chosen company..............................................................................................3
Marketing strategy for the organisation........................................................................................3
STP analysis to evaluate business's current performance.............................................................5
Two sets of the market segmentation criteria that could be successfully targeted by the business
.......................................................................................................................................................7
Understanding of buyer behaviour and justify the chosen strategy..............................................8
CONCLUSION .................................................................................................................................9
REFERENCES.................................................................................................................................11

INTRODUCTION
Marketing is a form of the communication between business housed and their customers
with the purpose of selling goods and services to them. Marketing is a process of management
through which the products or services move from concept to the buyers. Marketing assessment,
audit, analyses the assets and activity of a company to determine that what are they organisational
strength and weakness, and also make recommendation on what they should do to best position
their brand in order to take benefits of their market and audience. By marketing assessment , an
organisation comes to know where they stand and what they need to incorporate into their
strategies for acquiring new leads and also generate more business. It is very crucial element that
help organisation with all required information and making business decisions (Abdi and Aulakh,
2018). The firm chosen in this report is Marks and Spencer that is founded during 1884 in
United Kingdom. It deals in home products, clothings and luxury food products. This report will
be based on organisational current marketing strategy, segmentation and targeting criteria,
positioning of the company, understanding of consumer buying behaviour, justification of chosen
marketing strategy that meet the need of suggested segments.
Background of the chosen company
Marks and Spencer is s well known brand that is loved by millions of the people in world
sell award wining food, stylish home ware and high quality fashion products across around 50
territories globally. It is biggest relating company that deals in clothing, home ware products and
food items. Headquarter of the respective company is situated in London, United Kingdom. This
company was formed by Michael Marks and Thomas Spencer in 1884. currently, the company has
around 960 stores in UK, including approximately 616 that only sell the food product and through
their television advertising, asserts and exclusive nature and luxury of their food and beverages.
Marketing strategy for the organisation
In marketing strategy, the marketing mix is an effective strategy, it is consists of
combination of element that an organization can control to influence the customers to purchase
their products (Annarelli, Battistella and Nonino, 2019). In context of the Marks and Spencer its
marketing mix strategy is discussed below:

 Product- Product is anything that a company offer to its customers. It include the features,
benefit, brand, packing etc. In relation to the mark and Spencer, this company is very
popular and top chain brand at global level. Its products are clothing like jeans, shirt,
Cashmere, skirt and many more. Its footwear section include the sandals, pumps, boots,
loafer ans etc. it also provide different type of home are product and food product to its
customers.
 Price- Pricing strategy take into the consideration what our customers are prepared to pay.
It should be reflected in the product value. Marks and Spencer has adopted the
competitive pricing strategy for its product a sits customary have more option to select
from because of increased competition. Its pricing policy is between medium to higher
category because of its premium quality (Azuma and et. al., 2019).
 Place- A deep understanding of purchasing pattern of customers clear that where and how
their product should be displayed and sold. Marks and Spencer is international brand and
has got more than around 1000 stores that are operating in approximately 50 nations. Its
major business is in the UK where it has about 850 stores. It also operating its business in
many other countries such as Turkey, France, Spain and others. The company has also it
own website from where the buyers can purchase products.
 Promotion- This method is used to communicate the functions and advantages of a
product to the target customers. Marks and Spencer is very careful to align their
advertising campaign with the digital marketing. It emphasizes to provide common
message through all medium of the communication. Fro its promotional activities the
company uses TV ads, print media and other campaign of social media. It also promote its
product on their own website where the customers can identify fashion tips and blogs.
 People- Marks and Spencer, it workforces strength is approximately 70000 people. This
company mainly focus on its employees and follow competitive payment police in order to
retain their employees. In context of Marks and Spencer Its employees also enjoy a
discount on the product of the the respective company. This company provide many
benefit to its customers in term of health insurance, share buy, life insurance scheme and
many more.