Marketing Strategies of M&S

The provided report is an in-depth analysis of the marketing strategies and mix of Marks & Spencer (M&S). It includes an evaluation of the strengths, weaknesses, opportunities, and threats (SWOT) of M&S and compares its marketing mix with that of a competitor like Next Plc. The report also discusses the importance of internal marketing, customer experience management, digital recruiting, and destination marketing in achieving business goals. Overall, it provides a comprehensive understanding of the marketing strategies employed by M&S.

MARKETING ESSENTIALS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1 - REPORT.........................................................................................................................1
P1. Understanding the basic roles of marketing function.......................................................1
Roles of Marketing.................................................................................................................1
P2. Relationship between different roles and responsibilities of marketing in context of M&S3
TASK 2 - REPORT.........................................................................................................................4
P3. Comparing marketing mix of M&S with Next Plc..........................................................4
TASK 3 – MARKETING PLAN.....................................................................................................7
P4. Evaluating the basic marketing plan for M&S.................................................................7
Chapter 1 : Executive Summary.............................................................................................7
Chapter 2 : Objectives............................................................................................................7
Chapter 3 : Track the marketing activities.............................................................................7
Chapter 4 : Evaluating the progress........................................................................................7
Chapter 5 : Market analysis....................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Marketing is considered as the management of all functions and operations in a way that
it can be able to provide satisfaction to customers and thus, gaining high rates of productivity and
popularity (Saad, Hassan and Shya, 2015). There are different aspects of the marketing that can
help an organization in achieving an efficient rate of business management. The report is about
analysing various roles of the marketing function in M&S. Comparison of the marketing mix of
M&S and Next Plc. has been also included in the report. A proper marketing plan involving all
essential aspects for M&S is provided as well.
TASK 1 - REPORT
P1. Understanding the basic roles of marketing function
To : Line Manager
From : Assistant Manager
Subject : Understanding the basic roles of marketing function
Marketing is considered as the management of all functions and operations in a way that
it can be able to provide satisfaction to customers and thus, gaining high rates of productivity and
popularity (Miles and et.al., 2015).
Roles of Marketing
A market function has enormous number of roles which are discussed as below:
Branding
It can be considered as one of the important aspects of the marketing function.
Maintaining the value and popularity of the brand by involving various means is an important
task to do that also helps the organization in satisfying enormous number of customers and thus,
achieving a higher rate of popularity along with the productivity. For maintaining an efficient
rate of branding, an organization can make sure to involve various ways of promoting their brand
such as by advertising, by means of social media websites, online marketing, etc. Also, providing
the customers a quality and standard range of products and services can help in attracting the
interest of customers. Therefore, branding as an essential function of marketing can help the
organization in achieving all the targets and goals at a much faster rate.
Distribution
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The process of distribution of an organization should be in a way that the customers can
get as per their needs and requirements along with maintaining the factor of quality. So, a firm
can also make sure to involve various ways by which they can make their distribution better. A
very well-known and common example of this can be considered as the fact that if an
organization has stores or outlets from where the customers shop or purchase. There is an option
to the organization about involving factor of starting online deliveries (Yang, 2015). This can be
termed as an interesting option because it seems to be easy enough for customers who do not
want to go to the story or if they are lazy, etc. Therefore, by means of placing online orders,
company can deliver the placed orders to their customers. This can actually seem to be an
efficient way to attract the customers in a way that they can also stay focused in the functions of
the organization. It is because; the customers only want affordable rates with quality. So,
feasibility along with these can be termed as an attractive option by which they can gain interest
of customers and thus making increments in the popularity and productivity rate of company.
The customers can actually love to enjoy receiving products at their home itself and so, this
option can prove to be effective and appropriate enough.
Selling
Selling is also considered as one of the essential concepts in the functioning of marketing.
It is because; every single firm follows a specific procedure for selling. As an organization can
have stores and outlets at different parts of the country, so, they follow a basic structure to attract
audience at higher rates. There can be various factors that an organization can involve in order to
make their selling procedure better (Miles and et.al., 2015). As the organization can take
feedbacks from the customers after every purchase etc. This will help them in analysing the
factors that are bothering the customers which means the ones that are not liked by the
customers. Then the company can make sure to make the modifications and improvements in a
way that then it can be able enough to satisfy the customers. This technique can be involved by
the organizations to attract the customers because by these means, the customers can also
consider that they are an important part of the company and thus, it will further prove to be
helpful in maintaining their interest in the company. This process can also be termed in an
effective information management of the organization so that they can maintain a sort of balance
in their processing of different operations.
Finance
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Financial status of an organization is also an important aspect which is to be ensured. It is
because; an appropriate budget can help in maintaining every single process in a way that it can
be capable enough. Therefore, if in case, the company does not an appropriate rate of budget,
then it can take some sort of financial help from different sources such as banks, business
partners etc. Also, the organization can keep a check on the revenues they are achieving so that
they can compare the final results with their expected outcomes. This will help them in analysing
their position in the market.
P2. Relationship between different roles and responsibilities of marketing in context of M&S
The relationship between different roles and responsibilities of different marketing
operations is efficient enough in M&S. The various aspects involved are competitiveness,
policies, strategies etc. So, while considering these aspects, M&S can also focus on increasing
the rate of attracting a higher range of customers, so that they can further help the operations of
the company to get expand at a higher rate. A very well-known example of this can be
considered as the fact that if M&S makes involvement of some specialized and advanced
strategies so that the customers prefer their services as compared to that of their competitors etc.,
this can term as an effective way.
For achieving this, M&S can make sure to make some modifications in their products etc.
so that they can represent it to the customers that they are dealing with a rare and different range
of products. This can be classified as one of the interesting concepts that might attract a huge
amount of customers. It is because this is obvious that the customers want something different so
that they cannot also get bored with it etc., therefore, M&S can ensure also investigating about
the interest of people. For this, they can take feedbacks from the customers etc. that how much
they like their products and what are the factors that needs to be changed or modified. M&S can
also ensure focus on B2B process because making commercial transaction with some other
business can actually prove beneficial enough for M&S to increase the overall rate of the
productivity. B2B refers to business to business marketing whereas B2C refers to the business to
consumer marketing in which M&S can focus mainly on the customer outreach.
By this way, M&S can be able to involve a range of products that can be able to satisfy
the needs of the customers. Also, when the products and services will be according to the choice
of the customers, this somehow increases the possibility of M&S gaining more customers. Also,
as M&S is one of the leading retailers, so his is obvious that the company has enormous number
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of competitors as well. So, their competitors must be trying to involve ways so that they can gain
an efficient competitive advantage over M&S and for that, they must be involving an appropriate
set of strategies. Thus, in such case, M&S can ensure that they can check which strategies are
being used by their competitors. It is because if they can think that any of those strategies can
help them as well, so they can also make the involvement of the same. So, this can also be
termed as an effective way to gain a competitive advantage.
M&S can ensure involving new offers and deals for the customers because this can also
be termed as an effective way to achieve the targets. For this, M&S can develop an application
online so that the customers of M&S can be able to online order the stuff from the application
and this can be very feasible option for the customers. Also, M&S can involve about the offers
and discounts on the application so that whenever some new offer is updated, the customers who
have developed the application can get notification of the same. This can act as a very attractive
option for the customers. Also, it will help them in maintaining a sort of relationship so that the
customers can stay connected with the stores of M&S. This can be considered as a very
appropriate strategy for M&S because this will make the customers happy and along with that,
this way is bringing benefits to the company because when customers will stay this much
connected with the firm, it directly means that the company is successful enough in achieving
their attraction, so that M&S can achieve all their targets and goals at much higher as well as
faster rate.
Pricing policy of the M&S also matters. The customers want quality of the products and
services but along with that every customer prefers to purchase at an affordable cost. So, the
pricing ad rate structure is also considered as an important factor. If M&S continues to make the
supply of the products and services at affordable rates, then it will keep satisfying the customers.
So, these factors can help in determining the relationship between various different factors of
marketing that throws an impact on the operations and services at M&S.
TASK 2 - REPORT
P3. Comparing marketing mix of M&S with Next Plc.
Marketing mix is considered as a combination of a few aspects that can be efficiently
involved in the operations of the business and thus it can actually help them in achieving all their
targets and goals. As M&S is one of the leading retailers in the world, so it is obvious that the
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firm has various competitors as well (Malhotra, 2015). A very well-known example of its rivals
and competitors can be taken as of Next Plc. Although the production portfolio of both the
companies may be different because they both must be following the marketing mix in their own
way and such that it can be able enough to help them in achieving their objectives and goals.
The ways M&S and Next Plc must be complying the aspects of the marketing mix are discussed
as under:
Product
In M&S, they deal with a higher range of retail, luxury, clothing etc. in order to satisfy
the customers. They have involved a wide variety of types dealing with the clothing and lifestyle
of people so that people can have a variety of options to choose from. This can be termed as an
effective way for dealing with the customers because customers always get attract from a large
range because they need variety of options from which they can choose something specified.
Also, in case of food items, M&S has involved a variety of range for satisfying the customers. In
comparison with Next Plc, it can be analysed that Next Plc have also involved enormous number
of clothing brands and accessories along with the household range also. So, M&S can ensure
taking feedbacks from the customers so that they can tell them if there are any loop holes etc. By
this way, M&S can be able to make the replacements and modifications as soon as possible, thus
it can help the operations of the company in achieving higher success, thus a higher competitive
rate as well to deal with Next and other competitors.
Price
M&S deals with the involvement of a pricing strategy in which they will provide the
customers standard quality of products and services and that too at affordable rates. So, this can
be termed as an effective way to attract customers but in Next Plc, they believe in providing at
average rates. There are probably less number of offers an discounts in Next Plc but M&S can
ensure involving proper number of discounts and offers so that their customers can stay in
contact with them, which is a very essential and beneficial factor for the company (Yang, 2015).
Thus, it can be said that there are comparatively higher deals and offers in M&S than in Next.
So, his can be termed as an effective opportunity for M&S to gain and attract many customers.
Involving such ways more so that the customers can stay connected with the company should be
focused upon by M&S in order to cope with the competitive factors of their rivals including Next
Plc as well.
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Place
The places and areas where the stores have been distributed also plays an equal role in
determine the rate of profitability (Babin and Zikmund, 2015). On comparing the overall number
of stores and outlets of M&S and Next, it has been analysed that M&S have an overall rage of
798 stores that are distributed among different areas of the country whereas Next Plc has an
overall of 700 stores. Therefore, it means that there are more chances and opportunities for
M&S. Also, Next can also focus on expanding their number of outlets because this will help
them in expanding their operations, thus attracting much number of customers and gaining
productivity. In addition, M&S can also ensure to keep promoting and modifying their products
and services. This factor also help M&S in ensuring an efficient rate of popularity and
productivity.
Promotion
M&S ensures the fact of promoting their products and services by various means such as
involving online ways, advertisements, using social media websites etc. whereas in comparison,
it can be analysed that Next Plc involves a less range of ways for promoting their services and
products. Although both the retailers have their own websites in which they update every single
factor or involvement of any new product. There is a program initiated by M&S and it is called
as Sparks, it means when the person does shopping, they get some points in their account. Next
also ensures providing some payback points to their customers in order to the fact that they can
make them use in their future purchases etc. So, by both the companies, some programs have
been involved in order to attract the customers. Therefore, M&S can ensure involvement of some
other factors as well so that they can stay up at a higher stage than their competitors including
Next Plc.
People
This is also considered as an essential aspect. Ensuring what people can act as the target
is very important. M&S ensures the youngsters as their main target while Next Plc considers all
the generation of people to be a part of their firm. This makes the difference between the two.
Processing
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M&S ensures providing proper feedbacks from their customers after every service
delivery. So, Next Plc can a0lso ensure to perform the same to gain the trust of the customers.
Thus, it can also help in making the processes effective enough.
Physical evidence
Physical evidence is considered important as it helps in throwing an impact on the same.
M&S has provided the physical evidence of many of their products and services at their outlets.
Therefore, the same can be involved by the Next Plc in order to achieve the trust and satisfaction
of customers on a huge extent.
TASK 3 – MARKETING PLAN
P4. Evaluating the basic marketing plan for M&S
Chapter 1 : Executive Summary
The marketing plan for M&S can help them in maintaining a sort of balance between all
their operations and processes. Also, they can be able to analyse their market position as well in
order to evaluate their current outcomes with the expected ones. The marketing plan for the same
is discussed as under:
Chapter 2 : Objectives
Mission
The mission of M&S is to involve a variety of processes and services that can help them
to gain all the objectives and goals by satisfying the customers.
Chapter 3 : Track the marketing activities
Corporate Objectives
Corporate objectives can be termed as the specified targets that have been set by M&S
within a particular time frame or deadline so that all their goals can be achieved within the
deadline only. This will help them in maintaining a balance between different services and
operations.
Chapter 4 : Evaluating the progress
Marketing audit
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The marketing audit can be considered as a systematic analysis in which M&S can
analyses and evaluate their position in the market. Along with the internal factors, external
factors have also been included for making an analysis. On the basis of that only, modifications
and improvements have been made. In this, M&S can analyse whether their objectives have been
actually structured in a way that they can help the company in achieving all the targets and goals.
Also, they can check that how much they have earned revenues so that they can evaluate them
with their expected outcomes. If the current results are beer than heir expected outcomes, it
means that their objectives are efficient enough but if they feel that there is a large difference
between the two values, it means, there is an urgent need and requirement of making
improvements and modifications in their structure so that it can help them in gaining more
number of satisfied customers. This is also considered as an essential aspect to be covered within
the marketing audit.
Chapter 5 : Market analysis
SWOT Analysis
SWOT analysis for M&S in analysing the factors have been discussed as under:
Strengths
The strength of M&S is that it is one of the leading retailers in worldwide. So, it is
popular enough and have a variety of trusted customers also. Also, it has been analysed that the
brand also deals with quality and standard products with an affordable pricing structure. Its
standard quality with affordable rate structure is considered as its biggest strength that helps
them in attracting enormous number of customers (Charter, 2017). Also, there are a wide range
and variety of products and services provided by M&S that can also satisfy the customers.
Weaknesses
Although the store involves various ways for promoting their products such as online
means etc., but still, there has been analysed that they perform it in a smaller stage. They can stay
more active on their social networking websites and also on other means leading to a wider range
of promotional activities that can prove beneficial for the company.
Opportunities
As there is a huge competition in the retail industries, so it means that for coping with the
processes and strategies of the competitors, M&S can ensure involving a wider set of techniques
and strategies so that they can cope with them (Pike, 2015). So, M&S can focus on the
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involvement of a variety of ways that can help. This increases the overall rate of opportunities
for M&S to attract customers.
Threats
It is obvious that M&S is one of the leading brands who is popular worldwide, so there
must be various competitors as will who are dealing with the same range of products and
services. Some well know examples of the competitors of M&S can be considered as Next etc.
so, their processes and strategies can actually act as a threat for M&S. Therefore, proper
preventive measures can be involved in order to avoid the same, thus focusing on achieving all
their targets and goals.
CONCLUSION
It can be concluded from the above report that there are various aspects of marketing that
can be ensured by M&S in order to achieve all the targets and goals effectually. There is a strong
relationship in between different functions of marketing and every single factor throws direct
impact on the processing of services and operations. The marketing mix of M&S slightly differs
with the marketing mix of its competitors such as Next Plc. Also, a proper marketing plan has
been included in the report as well.
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REFERENCES
Books and Journals
Babin, B.J. and Zikmund, W.G., 2015. Essentials of marketing research. Nelson Education.
Charter, M. ed., 2017. Greener marketing: A responsible approach to business. Routledge.
Homburg, C., Jozić, D. and Kuehnl, C., 2017. Customer experience management: toward
implementing an evolving marketing concept. Journal of the Academy of Marketing
Science. 45(3). pp.377-401.
Malhotra, N.K., 2015. Essentials of marketing research: A hands-on orientation. Essex: Pearson.
Miles, M. and et.al., 2015. Exploring entrepreneurial marketing. Journal of Strategic
Marketing. 23(2). pp.94-111.
Pike, S., 2015. Destination Marketing: Essentials. Routledge.
Purvis, J., 2016. Human Resources Marketing and Recruiting: Essentials of Digital
Recruiting. Handbook of Human Resources Management, pp.53-71.
Saad, N.M., Hassan, S.H. and Shya, L.M., 2015. Revisiting the relationship between internal
marketing and external marketing: The role of customer orientation. The Journal of
Developing Areas. 49(3). pp.249-262.
Yang, J.T., 2015. Effect of internal marketing on knowledge sharing and organisational
effectiveness in the hotel industry. Total Quality Management & Business
Excellence. 26(1-2). pp.76-92.
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