Marketing Essentials Report

This report examines the marketing essentials of Marks and Spencer, a British multinational retailer. It analyzes the 7Ps of marketing mix, comparing M&S to its competitor TESCO. The report also includes a comprehensive marketing plan for M&S, outlining its mission, vision, STP strategy, SWOT analysis, and marketing budget. It concludes by emphasizing the importance of marketing in achieving business goals and objectives.

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................3
SECTION 1......................................................................................................................................3
Covered in PPT.......................................................................................................................3
SECTION 2......................................................................................................................................3
1) Comparison of 7P’s of marketing mix with other competitors..........................................3
2) Marketing plan to meet goals and objectives.....................................................................6
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Marketing is defined as collection of institutions and procedure for communicating,
exchanging, creating and delivering offerings which has value for clients, society, partners, and
consumer at wide. It is the way of getting people interested towards company goods and
services. It refers to activities which are undertaken by organisation for promoting of goods and
services for buying and selling. This includes selling, delivering and advertising of goods to
customers or business. This is regarded as discipline that involves actions to be taken by
company for maintaining customers’ relationship with them. The given assignment is based on
Marks and Spencer (M&S) which was founded in 1884 at Leeds, United Kingdom. It is British
multinational retailer that deals in home products, clothing and luxury food products. It is the
largest organisation in retail industry which has multiple stores in different places. This report
highlights about concept of marketing along with current and future trends and different
marketing process. There are various roles and responsibilities of marketing functions along with
their interrelationship with others. It also covers comparison of marketing mix with other
competitors and marketing plan for achievement of goals and objectives.
SECTION 1
Covered in PPT
SECTION 2
1) Comparison of 7P’s of marketing mix with other competitors
The comparisons of 7P’s of marketing mix with TESCO are described below:
Marketing Mix Marks and Spencer TESCO
Product It is top popular and retail brand in
UK. It covers wide items for all age
segments such as kids, women and
men. Some of the products are
clothing, footwear, accessories and
others. It also offers furniture and
home section, food and wine (Clow
and James, 2013).
It is offering huge category of
products such as beverages,
technology, home products, car,
baby care, clothing, jewellery,
books, and entertainment. It has
own brand store such as TESCO
lotus, TESCO kipa and others. It
also sell online and offline. It also

provides financial services to their
customers.
Price Marks and Spencer follow
competitive pricing strategy for their
goods and services. As it have its
own house brands for clothing for
kids, men and women. This brand
faces competition from online and
other retailers.
It follows cost leadership pricing
strategy. It works with supplier
for improvement and making
supply chain effective for
reducing prices. It restructured
product team for providing best
offers to consumers.
Place It is international brand which is
operating business throughout
world. It has 1000 stores in 50
countries and UK has 850 stores. It
has 50+ stores in India for selling
goods and services. M&S has own
website where consumer can
purchase goods and get home
delivery.
TESCO has more than 6900
stores in 11 countries such as
metro, extra, express and
superstore. These all store has
different in size and situated in
different places of world.
Promotion Marks and Spencer has to choose
marketing strategy in order to align
advertisement campaign with store
and digital strategy. It provide
common message through all
medium of communication. It uses
mobile advertisement, print media,
television advertisement, social
media campaign. It also uses own
website for promotion of brand,
clothes for different segments. It is
also provide discounts to loyal
consumers during season.
It has strong brand image in mind
of consumers. The promotional
activities of TESCO are based on
theme. It uses charitable events,
television, hoarding and others. It
also use offers promotional
discounts. It is selling products
and promoting them online too
(Joshi, 2012).

People It has more than 1000 stores in 50
countries. The strength of employees
at Marks and Spencer is around
83000. As it follows competitive
payment policy for retaining of staff
and paying equal attention to all. On
the basis of performance employees
are rewarded. The staff working in
M&S receives special discount on
products purchased either online or
offline. It also provides pension,
insurance, health insurance benefits
to subordinates (Lovelock, 2011).
It is largest retail brand that is
employing many people for work.
There are 480000 staffs in 11
market globally. The employees
are motivated towards good
performance and output. They
help each other for work
performance and supportive in
nature. The organisation provides
opportunities to them for showing
their talent and skills.
Process It is found at sub urban, malls and
other places. Stores are decorated
properly and beautifully. As floor n
stores are divided into different
section such as women, kid and
men.
The process which is followed by
TESCO is attaining market and its
activities. The process is designed
in such way that deviations are
minimum. Other factors
considered for process are service
feature, accessibility and capacity
level of production.
Physical
Evidence
It has physical evidence in 50
countries along with 1000 stores,
83000 employees. It is running own
website for their consumers where
product can be easily purchase
(Rossi, Allenby and McCulloch,
2012).
The physical evidence stands
proof of products that are
provided to consumers. The
colours, equipments, logos and
labels are evidence which is used
by TESCO as proof to consumers.
Also stores are considered as
physical evidence of brand and
places of moment of truth with
consumers (Silberschatz, Galvin

and Gagne, 2014).
2) Marketing plan to meet goals and objectives
Marketing plan is the plan through which company analyses about what going in
organisation. This is considered as overall part of business. It is kind of map that helps in
providing direction to company for choosing right path for achievement of goals and objectives
(Ahmed and Rafiq, 2013). Marks and Spencer manager need to use such plan for performing
activities and task in effective and efficient manner. This provides guideline in carrying task in
systematic manner. As it assist firm in giving clarity about their target market and consumers.
Thus, it consists of overall details of business such as how to execute them, what are the goals.
Therefore, it is significant for organisation to make marketing plans before starting of any
business process.
Overview of Company
Marks and Spencer is retail sector which was founded in 1884 at England, United
Kingdom. There are various location where business is operating with their stores. There are
large number of employees working with them and specialise in selling of clothes, luxury food
products and home products.
Mission
The mission is to make aspirational quality accessible to all and building on core values
of service, quality, innovation, and trust.
Vision
The vision is to provide standard against its competitors which can be measured from
consumer experience, caring community and environment and working environment for staff.
Marketing Objectives
The main marketing objective of M&S is to increase their sales by 20% in next three year
by providing high quality good and services.
STP
The STP of M&S are described below:
Segmentation- Under segmentation, M&S has divided market into few segment. This
helps in maintaining sustainability in business. They have divided audience into few parameters
such as:

Geographic- M&S has divided consumer on basis of age, education, gender, income and
other for goods and service.
Behavioural- In behavioural segmentation, M&S has divided market into basis of
consumer retention and behaviour towards products and services.
Psycho-Graphic- In this segmentation, market is divided into attitude, value of
consumers.
Targeting- After segmentation, particular group should be targeted for selling goods and
service in competitive market (Armstrong and et al, 2015). The segmented market should be
targeted such as all age group people considering men, women and kinds segments. It focus on
high class people as products are costly due to quality.
Positioning- It is the way of creation position in minds of consumer towards products
and services. The proper promotion channels helps in creating awareness about products (Baack,
Harris and Baack, 2013). Thus, on the basis of need and demand of consumer products should be
manufactured.
SWOT analysis of Marks and Spencer
The SWOT analysis are as follows:
Strengths- It is top retail brand which has their own branded labels, 1000+ stores in 50
countries and more than 80000+ employees are part of organisation (Babin and Zikmund, 2015).
Weaknesses- Due to competition from other retail sector it has limited market share and
being renowned brand it need to protect from misuse of imitation of products.
Opportunities- There are some opportunities which are available with M&S such as
developing own website, introduce new market segment and expanding brand other countries.
Threats- The threats which are faced by M&S are: change in government policies, other
retail sector providing at discount and due to global retailer different political facts in countries
in which they are working (Baker and Saren, 2016).
Marketing Budget
Particulars 1st year 2nd year 3rd year 4th year
Initial money 10000 5000 5000 5000
Investment 10000 10000 6000 5000
Total 20000 15000 11000 10000

Marketing
outlay
15000 1000 3000 5000
Promotion 4000 1000 5000 2000
Sales
publicity
2000 2000 1000 1000
Direct selling 4000 3000 1000 1000
Total 25000 7000 10000 9000
Monitoring and Control
It is significant for organisation for preparing marketing budget in knowing details of
investment of money. With help of this plan, company can make budget regarding how much
funds are investing and at what amount. Such plan is required for all types of company whether
small or large. This plan has prepared by Marks and Spencer in knowing about details regarding
funds. With assist of plan, organisation can easily determine about likeness of products by
consumers. This help marketing managers in monitoring whether processes of plans has been
examined and carried or not. As such type of plan is beneficial for organisation because if any
problems arise in plan then it can be controlled without occurring in future. Thus, it is very
essential for company to make such plan to check actions timely (Brady, 2014).
CONCLUSION
From the above presented report, it can be concluded that marketing is an essential for
each and every business in order to increase sales and profit margins. The marketing manager of
organisation has to perform various roles and responsibilities in achievement of goals and
objectives in systematic manner. There are interrelationships between marketing department with
other so that work and activities can be carried out in good manner. There is comparison between
marketing mix with other competitors so that changes can be made. Marketing plan provide
proper guidance to manager for carrying out various activities and task. The marketing process
has value and importance which is discussed in report.

REFERENCES
Books and Journals
Ahmed, P. K. and Rafiq, M., 2013. Internal marketing. Routledge.
Armstrong, G and et al, 2015. Marketing: an in
Baack, D. W., Harris, E. G. and Baack, D., 2013. International marketing (Vol. 3). Sage.
Babin, B. J. and Zikmund, W. G., 2015. Essentials of marketing research. Nelson Education.
Baker, M. J. and Saren, M. eds., 2016. Marketing theory: a student text. Sage.
Brady, D. L., 2014. Essentials of international marketing. Routledge.
Clow, K. E. and James, K. E., 2013. Essentials of marketing research: Putting research into
practice. Sage.
Joshi, M., 2012. Essentials of marketing. Bookboon.
Lovelock, C., 2011. Services marketing: People, technology, strategy. Pearson Education India.
Rossi, P. E., Allenby, G. M. and McCulloch, R., 2012. Bayesian statistics and marketing. John
Wiley & Sons.
Silberschatz, A., Galvin, P. B. and Gagne, G., 2014. Operating system concepts essentials. John
Wiley & Sons, Inc..
Silver, L and et al, 2012. The essentials of marketing research. Routledge.
William, K. and Zikmund, B. J., 2012. Essentials of marketing research. London: Cengage
Learning.
Online
Functions and Responsibilities of Marketing Manager. 2016. [Online]. Available
through:<https://www.gktoday.in/gk/functions-and-responsibilities-of-marketing-
manager/>.

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