Marketing Essentials of Marks and Spencer (pdf)

Marketing
Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1. Concepts of marketing also current and future trends............................................................1
2. Different marketing process....................................................................................................2
3. Role and responsibilities of marketing manager.....................................................................3
4. Interrelationship of marketing with other functional departments..........................................3
5. Value and importance of marketing role.................................................................................3
6. Conclusion regarding the significance of having effective interrelationship between
different functional department...................................................................................................3
TASK 2............................................................................................................................................3
Part A. Compare the organisation uses different elements of marketing mix ...........................3
Part B. Marketing plan to meet marketing goals and objectives................................................3
CONCLUSION ...............................................................................................................................3
REFERENCES................................................................................................................................3

INTRODUCTION
Marketing is considered as an activity that performed by the firm which is related with
purchasing as well as selling any products or providing services. It includes the purchasing,
distributing, advertising, delivering the goods or services. The chosen company for this report is
Marks and Spencer which is a growing British multinational retailers (Dibb and Simkin, 2013).
Its headquarter is in London, United kingdom. The purpose of this report is to explain the
marketing concepts with current and future trends. The different marketing process and roles as
well as responsibilities of marketing manager. Marketing interrelates with another functional
departments and marketing role and value in the context of company. Significance of having
effective interrelationship among different functional departments. Comparison between two
firm using marketing mix. Apart from this a market plan is developed to meet marketing goals
and objectives are also mentioned in this report.
TASK 1
Covered in PPT
TASK 2
Part A. Compare the organisation uses different elements of marketing mix
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Basis of difference H&M Marks and Spencer
Product H&M offers a huge range of
products that include
accessories and clothing in its
portfolio. Along with that they
launches new product line after
every regular interval of time by
collaborating with various
designers. They basically target
their product to younger
generation.
Marks and Spencer include diversified
product range in comparison to H&M as
other than clothing, footwear and
accessories they include home
accessories, furniture, flower and food
items. They basically target to all age
group like women, men and kids.
Price They maintain medium price
strategy for its quality items and
They follow competitive price strategy
for its various offerings. In general they
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Illustration 1: Marketing mix
Source: Marketing mix, 2018

keep huge old stock in discount.
This pricing strategy attract
huge youth customers towards
the outlet.
charge medium to high price on its
premium quality product for its upper
as well as upper middle class people.
Thus, strong competition has limited the
profitability of company. Even though
these product are perceived as worth
buying. Along with that they keep the
older stock in sales to generate
additional revenue.
Place It's headquarter is in Sweden
which control the network of
H&M that is spread in more
than fifty five countries. They
also offer product through
online stores where customer
can explore various category
and make the online payment
accordingly. The manufacturing
of product takes place where
cheap labours are available.
Hence, decreases the overall
cost of company.
The major business of respective brand
is in UK where it has huge stores apart
from that it has more than 1000 stores
spread in more than 50 countries.
Furthermore, it also deal with its
customer through its website and deliver
their product at respective places.
Promotion H&M engage in promotional
activity to spread awareness
about their apparel quality and
reasonable price. Thus, they
uses MTV channel of electronic
media that is TV to position its
brand. Apart from this they uses
social media tool like twitter,
This brand uses celebrity endorsement
advertisement campaign, print media,
billboards and digital marketing tool
widely that include social media, SEO,
pay per click, mobile ad, email
marketing and so on. They even make
loyalty card of their existing customers
and add points on the basis of sales.
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and Instagram, sponsor various
events and uses exclusive
designer to showcase their brand
This helps in promoting repeat
purchasing habit.
People The employees of H&M works
on rotational basis to serve the
customers. They after recruiting
train employee at each level to
generate huge profit. Apart from
this, throughout the world they
tie up with many clothing
designers. This helps company
to bring latest and creative
trend.
As Marks and Spencer conduct its
business worldwide due to which they
employee more than 80,000 employee
for their retail stores. Other than this,
company pay monetary or non monetary
reward on the basis of performance of
an employee. Moreover, they provide
special discount, pension benefit, life
insurance and health insurance scheme.
Furthermore, they provide flexible
working hours and promote female
working employee .
Process H&M pays attention in
maintaining long term
relationship with its existing as
well as potential customers. To
make it possible they have their
customer care service number to
solve the grievances of
customers.
The stores of Marks and Spenser are
unique and different to other target
competitors. They have different floors
for different section like women, men,
kid and home accessories. Thus
customer can explore wide variety of
item at a time. Moreover, their outlet
includes well trained employee that help
customer in selecting the merchandise.
Physical evidence H&M make sure their
merchandise is of premium
quality with latest trend. Their
stores has great ambience and
well trained staff. They even
invite celebrities during its
It has wide range of products that
include home decor items, gifts,
clothing, flower and so on that act as a
physical evidence for Marks and
Spenser. Furthermore, respective
company welcome stories, feedback and
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launch to create huge marketing
buzz.
recommendation of customer. This
helps them in maintaining their brand
value though brand equity and loyalty.
Part B. Marketing plan to meet marketing goals and objectives
Marketing plan of company is generally considered as a blueprint of whole document that
are needed in product marketing from starting stage. This describe the different activity of
planning as well as techniques of marketing for firm. So being an assistant manager of Marks
and Spencer, planning to launch organic beauty products. The targeted customers for this product
will be female of 15 and above age.
Vision: “To drive the profit growth as well as providing organic beauty products”.
Objectives: To introduce less chemical containing products within 6 months in order to
enhancing organisation's market 10% more.
Marketing mix for organic beauty products:
Marketing mix considered as an essential components of marketing this assists firm to
create their marketing plan for new products. Marks and Spencer utilise this for their new
product that is organic beauty products. All these are mentioned below:
Product:
Product is refers as a things that firm is going to introduce into market. For Marks and
Spencer is organic beauty products.
Price:
Price is refers as an important elements for organisation as well as consumers. Generally
clients are more focus towards price thus, it should be always reasonable. The price of organic
beauty products will be starts from approx £ 150 and more according to specification of product.
Place:
Place at which firm wants to introduce their products. Marks and Spencer is introducing
its new products initially in areas of UK.
Promotion:
This is way through which company create awareness of products between customers.
Therefore, Marks and Spencer will various sites to provides adds about their products and
advertisements on Television.
People:
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People are the one who buy the products of company. Also known as the customer if they
buy any products. Marks and Spencer will provides its products only to female customers.
Process:
The process generally effects the implementation of the products. So the process used by
Marks and Spencer for their new products are at first only few products are available on websites
and apps if their reviews and feedbacks are effective then more number of product should be
produce.
Physical evidence:
Physical evidence is more important as most of the customers only trust on physical
products. Marks and Spencer is a well known brand so few sample of the product are to be
provide in stores.
Marketing Evaluation:
Evaluation is considered as a techniques which is used to analyse the success or failure of
products that form introduce. It assists organisation to make corrective actions. Marks and
Spencer going to evaluate whole market of beauty products so that get ideas regarding selling as
well as manufacturing of products.
Marketing budget:
Marketing budget is refers as the plans of marketing in context of cost. This is an
estimated costs which will be needed by Marks and Spencer to perform all activities such as
promotions, distribution and so on. So, the estimated cost is approx £ 20, 000.
STP Analysis:
STP usually considered the segmentation, targeting and positioning. It adds value as well
as develop efficiency and effectiveness of marketing. Firms segments its market to find out
clusters of potential consumers after that target those clients for particular communication of
marketing that are created to position the organisations offerings and brands in order to stand out
from rivals. Marks and Spencer use STP analysis are as follows:
Segmentation: At this step Marks and Spencer takes large market as well as divide it into
segments. Here, segments base are ascertained and every segment profiles are created. At this
stage is also assures that correct segment are selected. Respective company choose the large
market and distribute that into smaller groups.
Basis Marks and Spencer( organic beauty products)
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Gender Only female as products are anti ageing cream, youth cream, eye liner etc.
Age 15 and above
Market In United kingdom market(Large)
Targeting:
Marks and Spencer now ascertain whom it want to target. So, it determine every segment
to ascertain what value exists into all segment of market. It uses differentiated approach as well
as targets the middle and upper class people. Also, facilitates the standard quality of products at
reasonable cost so that middle class customers can also buy products without any hesitation.
Positioning:
Finally, positioning is created for all target segments. In this stage products are positioned
competitively into the segment as well as a elaborated marketing mix is formed. Marks and
Spencer know and created a USP for brands in those segments. It already position themselves as
an global brand with having various products. So it position their new organic beauty products
through advertisements through known celebrities.
Action plan: For the organic beauty products, it uses the natural ingredients. Information taken
regarding planning are to be checked, check the needed items, review the implementation
process. Also test the products before delivering to market.
Measures for monitoring and evaluating progress:
In order to monitor and measure the marketing plan Marks and Spencer are take few
measures so that they can meet their goals and objectives. The above marketing plan can be
monitor and evaluated through the MIS that is management information system, controlling and
evaluating marketplace, observing customer need and preferences, Herein, action plan will help
mangers of Mark & Spenser to evaluate and measure in an effective manner that its desired goals
and objectives can be attain within stipulated time period. Moreover, it will also help respective
company to attain sustainability for longer duration of time.
CONCLUSION
From the above report it is concluded that marketing plays an essential role within
organisation. Some trends of marketing such as mobile and societal marketing is used by
company. Marketing process is utilise to analyse the marketing opportunities, choosing target
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market, creating marketing mix and managing the efforts of marketing. Some role and
responsibilities of marketing manager such as standardization, product distribution and so on.
Interrelationship of marketing departments with finance, human resource management and
production department of Marks and Spencer. Importance and value of marketing role in
decision making etc. two different company marketing mix are compared and a marketing plan is
prepared in order to accomplish the organisational goals and objectives.
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Online
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Marketing mix. 2018. [Online]. Available through
<https://www.tutor2u.net/business/reference/the-extended-marketing-mix-7ps>
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