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Marketing Fundamentals Assignment Solved - Marks and Spencer

   

Added on  2020-10-22

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MARKETINGFUNDAMENTALS
Marketing Fundamentals Assignment Solved - Marks and Spencer_1

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1A.........................................................................................................................................3Processes and stages of marketing including the role of the marketing mix..........................3Role of marketing in creating value for customers................................................................7Stakeholder engagement and their impact on marketing activities of Marks and Spencer....8TASK 1B.........................................................................................................................................9Reflection of the tactical communication tools used to generate awareness..........................9and interest in project............................................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12.......................................................................................................................................................13
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INTRODUCTIONMarketing is the department which works to create awareness about product and servicesto customers. This department mainly works with research and advertisement department. Thesedays business development is possible with the help of advertisement. Due to change in demandof customers alterations are taking frequently, so with the help of marketing manager is able todeliver changes in effective way (Varnali, 2014). As there is much competition in market, it isessential to deliver knowledge related to product and services. This report is based on Marks andSpencer which is big brand in retail sector. They provide luxurious clothes, accessories, etc. Inthis report, there is discussion about process and stages of marketing, role of marketing mix, roleof marketing and involvement of stakeholders in marketing activities. At last, there is reflectionabout communication tools to create and generate awareness about project. TASK 1AProcesses and stages of marketing including the role of the marketing mixMarketing is the process which helps to provide knowledge related to product andservices. There is use of various techniques which are effective and significant for growth anddevelopment of business(Talib, 2013). Marks and Spencer is the association which is big brandand cone with various innovations for society, so information related to product can be deliveredto customers by marketing department. Marketing is not one night process, so there isrequirement of proper planning which helps to perform marketing in proper and effective way. PROCESS OF MARKETINGIllustration 1: Marketing Process Overview
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(Source: MarketingProcessOverview, 2017)Marketing plan followed by manager of Marks and Spencer are as under-Mission- First step in marketing process is to set mission. It is essential to set some targetwhich are effective for making changes the roles and responsibilities of workers. When Marksand Spencer is thinking to launch new services, then this is the mission for marketing (Shaw,2016). Situation Analysis- Situation analysis means to analyse external as well as internalenvironment of business which helps to perform business operations in effective and efficientmanner. Marks and Spencer is big brand in society, so external factors affects them most. Suchas legal policies, market trends, etc. Marketing strategy- After analysing external situation, there is requirement of thinkingabout marketing strategies. As there are various ways through which managers of Marks andSpencer can market product or services. Marketing strategies are television advertisement, onlinesources, etc. Marketing mix- Marketing mix is the technique through areas of marketing can beknown. As there are some changes which is essential to making business operations in effectiveand effective manner. In marketing mix 4P's of marketing, they are- Product, Price, Place,Promotion.Implementation and control- After implementing marketing mix, last step which is doneby top level manager of Marks and Spencer is to control marketing process. In case of negativeresults, corrective actions has to be taken (Rahbar and Abdul Wahid, 2011). STAGES OF MARKETINGIn retail sector there is such competition so it is essential to make strategies which helpsto deliver best quality product to society. In case of Marks and Spencer, there are many rivalriessuch as Tesco, Sainsbury, etc. Hence it is essential to select approaches which are essential fororganisational growth. Stage which is followed by Marks and Spencer are as under-
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