Marketing Management Solved Assignment Copy

Marketing Management

CERTIFICATION OF AUTHORSHIP
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have also cited any sources (footnotes or endnotes) from which I used data, ideas, theories, or
words, whether quoted directly or paraphrased. I further acknowledge that this written work has
been prepared by myself specifically for this course.

Table of Contents
.........................................................................................................................................................1
CERTIFICATION OF AUTHORSHIP ..........................................................................................2
INTRODUCTION...........................................................................................................................1
Unit 1 :The Elements of Marketing........................................................................................1
Unit 2: The Marketing Mix & Impact of Internet..................................................................2
Unit 3 :Branding and Promotion............................................................................................3
Unit 4 :Budgeting + Metrics...................................................................................................4
Brand .....................................................................................................................................4
Identifying the way brand is promoted...................................................................................4
Analysing the techniques through which brands be globalised..............................................4
Budgeting + Metrics...............................................................................................................4
Price setters with price takes. ................................................................................................5
Unit 5: Service and its management.......................................................................................5
Unit 6: Service and its management.......................................................................................5
Unit 7: Sustainable Marketing Fundamentals: 3BL + The Stakeholders Analysis................6
REFERENCES................................................................................................................................7

INTRODUCTION
Marketing management is defined as the utilisation of business resources in order to
achieve desired objectives. It includes several activities such as planning, organising,
implementing and controlling business operations designed to alter target audiences for the
intention of personal and mutual gain. Effective marketing management assist can assist
businesses in increasing their customer base. It also includes the formulating marketing strategies
which is designed with the intention to achieving marketing objectives.
Present report is based on analysis Marks and Spencer which is British supermarket
chain, having its business operations across 100 countries. It is headquartered in city of
Westminster London. It specialises in the selling of clothing, home products and luxury food
products. It is found Micheal marks and Thomas Spencer in the 1884. Scope of operation is to
maximize profitability and providing products to meet the requirement of customers and
sustaining its international retail position. The marketing plan for company have been
formulated and determined in this report. The purpose of the report is to develop the
understanding about the elements of marketing in context of Marks and Spencer.
Unit 1 :The Elements of Marketing
Marks and Spencer is recognised as a multinational British corporation operating in the
retail industry in United kingdom. Business entity specialises in the selling of clothes, food items
and home products. An organisation has nearly 1000 stores across the United Kingdom which
support an enterprise in delivering products or services to a wide number of customers.
Marketing concept is defined as the philosophy by which an organisation should analyse
the needs of their customers and then make decisions to satisfy those needs. It can also be
recognised as the strategy which is executed by an enterprise to satisfy customer’s needs,
increase sales, maximize profit and to gain competitive advantage.
Differentiation, competitive advantage
Differentiation, is defined as the act of developing new products or services with the
motive of differentiating brand from that of competitor (Jaramillo and Spector, 2015).
Differentiation strategy can be applied by Marks and Spencer for the purpose of providing the
suitable response to the competition but it involves high risk and investment as compared to
other marketing strategies. This strategy has assisted the business to gain competitive advantage
in the market. As production of innovative products has helped an enterprise in attracting more
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number of customers. It also helps an organisation in increasing uniqueness (Alonso-Dos-Santos
and Ko, 2018).
A competitive advantage is defined as the benefit which is gained by Marks and Spencers
over competitors. The several opportunities can be generated by an enterprise by delivering the
high value proposition to customers at reasonable price. Differentiation strategy is considered to
be as the generic strategy will help an organisation in accomplishing market objectives.
Unit 2: The Marketing Mix & Impact of Internet
In industrial marketing, there are buyers as well as sellers of the product of industrial
products such as capital, machinery, land etc. Industrial marketing is recognised as a distribution
channel which specialises in selling products and services to other companies in an industry. It
also involves bulk order. In this context, M&S has also creates its relationship with small scale
retailers and suppliers in other countries. They usually provide their products to small retailer in
similar industry which helps in increasing sales and brand recognition in market. It also helps in
providing easy accessibility to customers.
Consumer tends to buy products of those brands which have wide recognition in market. In order
to provide easy accessibility to consumers company can improve its channel of distribution
across countries to provide conveneince to target customers (Bahadir, Bharadwaj and Srivastava,
2015).
Marks & Spencer have focused their business activities into developing new products in
the market of United Kingdom by offerings different goods and services. Marks and Spencer has
developed new products which has helped the firm in attracting more customers. An innovation
plan has helped Marks and Spencer in differentiating its products and services from that of
competitor.
Marks and Spencer has brought major improvements in production procedures. Industrial
marketing provide support in analysing current trends and requirements of customers towards
retail products and services. It enables M&S to improve their existing and develop new
products to meet the requirements of customers (Barrett and Weinstein, 2015).
However, analysis provide understanding that M&S make efforts to adopt differentiate its
products and services in market through innovation which helps in being out of competition.
Company has provided focus on differentiation but it also create major challenges for
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organisation to sustain its business operations and gaining competitive advantage on
competitors.
Unit 3 :Branding and Promotion
There are 4 ps in marketing mix these are:
 Product: Marks and Spencer company offers wide range as well as variety of products or
services to customers of M&S including offers like Food hall, Home stores, Outlet
stores, M&S Simply Food. Meanwhile, M&S's clothing division had an 11% market share
in the UK. Business entity offers goods as well as services to all customer segment. In
addition to accessories as well as clothing the firm also offers food products as M&S
Food hall. An organisation mainly sells its in domestic brand rather than other global
brands.
 Price: It implies to strategies adopted by organisation to influence customers to buy
products and service. Usually customers seeks to buy quality products at low prices
princes. In order to regain the market share and influencing customers, M&S can
penetration pricing policy in which they provide their products at low price in
comparison with competitors for specific duration to influence customers. It helps them
to gain competitive advantage and increase in sales revenues.
 Place: Marks and Spencer company is recognised as global brand, which has many stores
located in different places. The organisation also has it websites which has enables the
enterprise to reach numerous customers. Use of the internet has allowed the enterprise to
communicate directly with client. For improvement, company can enhance its
distribution channels across countries so that it products can easily accessible to
customers.
 Promotion: Marks and Spencer have decided to align its advertisement campaign with
digital marketing. They are delivering a common message on all medium of
communications. Utilisation of internet has provided firms a chance to provide additional
facilities to clients, such as: customers can find blogs and fashion tips on Marks and
Spencer website (De Mooij, 2013).
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Unit 4 :Budgeting + Metrics
Brand
Brand is considered to be as a symbol, unique design imposed by manufacturing
enterprise on products. It helps business entities in differentiating their product from that of
competitor’s. It helps consumers to differentiate products of companies in market. It is unique
identity for organisation which creates competitive advantage and provide major recognition to
organisation among customers across the countries. M&S have created their unique brand to
gain recognition and attraction consumers.
Identifying the way brand is promoted
Marks and Spencer can promote its brand at domestic as well as global level by using the
social media sites, as this strategy will assist it in reaching to a wide number of customers. In
addition to these a firm can also promote brand by organising marketing campaign and taking the
supports of other advertising media.
Analysing the techniques through which brands be globalised
There are several strategies which can be used by the marketing manager of Marks and
Spencer in order to build the brand which are:
Positioning of the brand - It is very much important for the marketing manager to develop the
understanding of the market as well as competition in an enterprise before positioning a brand.
Appropriate brand positioning in retail sector has provided support to M&S in sustaining its
business operations. High sales and growth has been attained by M&S due to positioning of
business at international levels.
Think broadly - It is very much important for an organization to expand into offering new
products based on regional market demand. The marketing manager should ensure that brand
name is broad enough to accommodate those changes. Appropriate strategies should be created
by brand to sustain its position in market. For example: M&S has created partnerships with
organisation in overseas nations to increase their market and dependency. How globalization has
expanded business operations to meet requirement of customers.
Budgeting + Metrics
Pricing
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Pricing is defined as the procedure where the manager in an enterprise determines asset
as well the prices for their products or services. It is usually based on the organization average
costs, and on the customer's perceived value of the trade good.
Marginal and full costing. Contribution analysis.
Marginal accounting is a process of identification, measurement , analysis, interpretation and
communicating information to manager for the pursuit of an organisation's objectives (Kubacki
and et.al., 2015). Contribution analysis is step by step approach which is designed by manager
to assess about the contribution a program has made to some particular goal. It also analyses
the effect of internal and external factors in the contribution. It also estimates the direct variable
costs and selling price of a range of products.
Price setters with price takes.
Price setter is recognised as a company or a person who has the power to set the prices
for the goods or services. On the other hand, price takers. is a company that must accept
prevailing market prices for its products. These people or companies has no control over price of
product or services.
Unit 5: Service and its management
M&S is widely recognised brand and it selling high quality products which are only
affordable by people of high income group. In past several years, company has adopted
skimming price strategy in which they have set a relatively high initial price for a product opr
service at first and then lowers the price over time. However, to improve the condition of sales
in market company can adopt penetration policy where they can set low of price of product to
rapidly reach a wide fraction of market and wide publicity. It helps in attaining high sales and
can increase their profitability.
Unit 6: Service and its management
Experimental marketing strategy is adopted by an organisation in order to analyse the
reaction of customer towards the launch of new product in the market. Such type of marketing
strategy adopted by an enterprise intends to involve consumers and invites as well as influence
them to participate in the evolution of a brand.
Service and its management
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The objective of service management is to deliver high level of satisfaction to customers
and maximise service supply chain. Service and its management helps an organisation in gaining
the client loyalty and influencing people to buy more products or services. This type of
management includes all the activities which are conducted by an organisation in order to
provide memorable experience to customers (Wright, 2016). The purpose of high performance
service management is to optimize the service-intensive supply chains,.It also helps firm in
increasing sales and profitability. M&S has created partnerships with organisation in overseas
nations to increase their market and dependency. How globalization has expanded business
operations to meet requirement of customers. .
Unit 7: Sustainable Marketing Fundamentals: 3BL + The Stakeholders Analysis
Stakeholder analysis is considered to be as an effective tool which assist manager in
analysis as well as integrating the perspective of different stakeholders about the sustainability as
well as success of an enterprise. Stakeholder analysis is a framework which consist of six-point
star rating scheme which assist manager in determining the level of satisfaction gained by
internal as well as external stakeholder in context of social, economic as well as environmental
criterion. This model assists management in making suitable decisions.
CONCLUSION
From the above report, it is concluded that marketing management is an important part of
business operations on which M&S needs to emphasize for sustaining its position in competitive
business environmental. Assignment has also concluded that Marketing mix is the important part
of promotional plan without which firm cannot achieved desired objectives. It has also been
concluded that service management is very important in terms of providing their high level of
satisfaction to client and gaining their loyalty.
Study has highlighted the strategies which can be used by marketing manager in Marks
and Spencer for promoting goods, services and brands. It has also provided the detail about the
several techniques which can be utilised by management for analysing the perceptive of different
stakeholders.
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REFERENCES
Books and Journal
Alonso-Dos-Santos, M., and Ko, Y.J., 2018. Engagement in sports virtual brand
communities. Journal of Business Research.
Bahadir, S. C., Bharadwaj, S. G. and Srivastava, R. K., 2015. Marketing mix and brand sales in
global markets: Examining the contingent role of country-market characteristics.
Journal of International Business Studies. 46(5). pp.596-619.
Bahadir, S. C., Bharadwaj, S. G. and Srivastava, R. K., 2015. Marketing mix and brand sales in
global markets: Examining the contingent role of country-market characteristics.
Journal of International Business Studies. 46(5). pp.596-619.
Barrett, H. and Weinstein, A., 2015. Corporate entrepreneurship, the marketing mix, and
business performance. In Proceedings of the 1997 Academy of Marketing Science
(AMS) Annual Conference. Springer International Publishing.
De Mooij, M., 2013. Global Marketing and Advertising: Understanding Cultural Paradoxes:
Understanding Cultural Paradoxes. Sage Publications.
Jaramillo, F. and Spector, P.E., 2015. Sunk Cost Effect, Escalation of Commitment and the
Principle of Fungibility: Consumers’ Reactions to Membership Cards. In Creating and
Delivering Value in Marketing. Springer International Publishing.
Kubacki, K. and et.al., 2015. A systematic review assessing the extent of social marketing
principle use in interventions targeting children (2000-2014). Young Consumers.16(2).
pp.141-158.
Pavlou, P. A. and Stewart, D. W., 2015. Interactive Advertising: A New Conceptual Framework
Towards Integrating Elements of the Marketing Mix. In New Meanings for Marketing
in a New Millennium. Springer International Publishing.
Pels, J., 2015. Actors’ Exchange Paradigms and Their Impact on the Choice of Marketing
Models. In Proceedings of the 1998 Academy of Marketing Science (AMS) Annual
Conference. Springer International Publishing.
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Wright, M. J., 2016. Predicting what? The strengths and limitations of a test of persuasive
advertising principles. European Journal of Marketing. 50(1/2). pp.312-316.
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