Marketing Management: Strategies and Analysis of Marks and Spencer

This document discusses the importance of marketing management in organizations and focuses on the marketing strategies and analysis of Marks and Spencer. It covers topics such as segmentation, targeting, positioning, and the marketing mix of the company.

MARKETING
MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................4
SEGMENTATION, TARGETING AND POSITIONING.........................................................4
Marketing Mix of Marks and Spencer.........................................................................................6
RELATIONSHIP MARKETING STRATEGY..........................................................................9
Recommendations......................................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

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INTRODUCTION
Marketing is considered to be that aspect of every organisation which will bring forth the
products to the customers. Marketing plays a major role in today's world and therefore every
organisation will get habituated to the fact that they will have to employee strategies in order to
manage the tactics that will employ marketing as one of its core aspect (Deepak and Jeyakumar,
2019). Marketing management comes with the policies and the planning that is incorporated in
the organisation that will drive the forces into developing a perfect marketing plan that is
essential for the organisation to move ahead. Different consequences revolve around the
organisational growth and one such technique that will lift up every organisation is how far the
marketing strategies are taking the products into customers. It is essential for every industry to
gain customer base and that can be possible with the perfect ideology and the planning that is
required which will have to be incorporated by the management. This will have to be developed
a midst of all the employees and they are to be trained in the way to make up all the policies that
will bring about good marketing plan for the organisation. The entire report deals with the
marketing management and its prospect in different scenario. The organisation that is chosen in
this regards his Marks and Spencer. Marks and Spencer company is best known for its marketing
policy. It is one of the best conqueror in the retailing industry and is known for its product. It is
one of the successful business that is involving all ethical ways in order to deal with its
customers (Park, 2020). The products that are dealt by the company majorly focus upon food and
clothing in Britain. The report deals with the marketing strategy that is incorporated in the
company marks and spencer which enabled it to win over the circumstances and to get into its
customers.
SEGMENTATION, TARGETING AND POSITIONING
Segmentation targeting and positioning are required in order to identify the societal needs and
demands such that the company can focus on the particular segments that it has divided
customers into. This can help them fetch few results out of which the company can extend its
trade based on the requirements that are identified upon segmentation. The targeting of the
community will help to analyse the aspects that are to be implemented in the organisation.
Targeting will help the company to gain more results and to work for the requirement of
customers (Martínez-López and et.al, 2020). In the business that Marks and Spencer is excelling
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there seem to be different needs with regard to clothing and other prospect. These when
identified upon a proper interaction with the customers they will get to identify the factors that
they will have to focus upon. The segmentation targeting and positioning of the company Marks
and Spencer are as follows: in the company marks and Spencer the segmentation targeting and
positioning is said to be one of the crucial component that the organisation focuses upon. It will
eventually decide the behaviour pattern of the organisation. There seems to be a proper
understanding that is developed between the customers as well as the employees such that the
company can focus on producing products that are best known from the customer related issues
(Kotabe and Helsen, 2020). Therefore the targeting and positioning that are related to the
company Marks and Spencer is to identify the choices of customers based on their interaction
with the current business scenario.
Segmentation: segmentation is the set of process that will divide the circumstances into certain
factors such that they can be and accountability that is gained through this. The company Marks
and Spencer allowed their divisions into few audience parameters that will help them to fetch
different demographics as well as the age and gender criteria such that the company can focus
upon the products that are required for their need. The company mainly focus upon the need for
segmentation as that are get for the institution to achieve growth prospects. Therefore, the
company is involved in taking different measures and steps that are required for it to meet the
needs of customers which will indirectly impact the growth prospect by reaching a kind of
satisfaction that is developed from customer support.
Targeting: targeting is said to be that aspect which will identify the strategies that are to be
incorporated in the organisation such that the organisation can meet the demands of the public as
well as target certain community such that it can move ahead potentially. Through targeting the
company Marks and Spencer ethically deals with successful business ideas. There seem to be a
phenomenal aspect that is oriented with the strategies of sustainability that are maintained by the
company and the process of targeting. The potentiality of the company falls upon how far they
are being able to target the needs of the customers such that through them they can identify the
opportunities that can be evaluated to become a better idea that can flourish. in order to get
through the circumstances that are prevailing in the market the company Marks and Spencer will
first evaluate the targets that are mainly dealt with money (Foroudi and et.al, 2017). They feel
that money is one of the important factor that can make things accessible. There for their major
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target is to achieve every objective that is stipulated in their policy that the onset of distribution
of resources.
Positioning: the marketing world is immense and therefore there are different positions in which
every organisation is securing its place. Although the company is performing more than its
potential there are different organisation that can compete in the race with a small strategy that
can make it one of the best positioning organisations. The positioning of the company Marks and
Spencer with its marketing mix of a 4p model is moving ahead with a clear elemental idea upon
its position base. Avoiding the wastage of resources, the organisation is clear upon the target and
their concentration towards customer choices such that they can maintain price list. This made
the company one of those institutions that is well and strategically determined.
Marketing Mix of Marks and Spencer
Marketing Mix is basically a framework which focuses on 4 P’s i.e., Product, Place, Price
and Promotion for the products in which the company deals with along with the three P’s for
services provided by the company i.e., People, Process and Physical Evidence. These are
considered as the several marketing strategies which help in the growth of brand like M&S.
These help in achieving the goals and objectives of business. M&S is a public limited company
performing its operations in the Retail and Lifestyle Industry in British Origin (Bhasin, 2019). It
develops and implements innovative and unique marketing strategies for gaining competitive
advantage among its competitors such as Tesco, Asda, Aldi, Centra etc. The factors of Marketing
Mix of Marks and Spencer are described below:
Product
M&S is considered as the top and popular brand of retail chain in UK and the major
reason for the same is its product portfolio which covers variety of items for people of all age
group whether kids, men, women etc. For women, it deals with the products such as Cardigans,
Blazers, Jeans, Linen, Cashmere, skirt, shirt etc. (David, 2017). Along with this, the company
also sells footwear for women such as sandals, boots, pumps, heels, loafers etc. The women can
also get a wide variety of bags and accessories such as beach bags, hand bags, sunglasses,
jewellery etc. though the brands such as Twiggy, Indigo, Classic, Foot Glove, Autograph etc. In
the males section, the company deals with footwear such as slippers, socks etc., nightwear such
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as pyjamas, underwear and dressing gowns, formalwear such as customized shirts, jackets, suits
etc. Not only this, the company also provides all types of products for kids. Various beauty
products, home accessories and the furniture are also supplied by the well known company
(Leite, 2020). This wide variety in each category helps in attracting the customer of all the types
and makes this supermarket chain best known for supplying quality products. The company also
monitors and analyses the taste and preferences of the customers in order to select the products
and satisfying the needs and demands of the customers. This not only helps in increasing the
customer base but also increases the overall profitability.
Price
This is considered to be the foremost and the major criteria which forces and restricts the
customers to make a purchase. Marks and Spencer adapts the competitive pricing strategy for its
product portfolio. The company decides medium and higher prices for its premium quality
products. The pricing strategies of the company is not fixed as according to the variation in the
seasons such as festive, off seasons etc., the company offers more discounts in which the old
stock is put on sale and is sold at lesser prices comparatively to the completely new stock. This
also attracts larger number of customers of all the classes (Arustamyan, Al Taj and Nasir, 2020).
The competitive pricing strategy also gives various opportunities to the customers to choose
from various options regarding the prices which help to gain competitive advantage. This is why,
the products of the company are considered as value for money.
Place
The company M&S not only performs its operations in London, UK but also spreads its
presence in many international markets such as Ireland, Egypt, Canada, Germany, India, Austria,
Kabul, Finland etc. The company also makes use of its various outlets which are chosen
strategically for gaining maximum brand visibility and the customers. In order to provide
soothing ambience to the customers, the outlets are decorated tastefully which helps in providing
best services to the customers. M&S not only sells its products at the stores but also the company
launched its online shopping store through which it can facilitate the customers to order the
products online and get the same at their doorsteps through the home delivery facility (Katsikeas,
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Leonidou and Zeriti, 2019). This helps in reaching larger audience as well as gaining more
competitive advantage by increasing the customer base.
Promotion
The company M&S does not miss any opportunity to align itself with marketing tools.
For this, it will adapt the below-the-line and above-the-line strategies for making the presence
felt. The campaigns are chosen carefully by the company and are displayed in the visual, digital
and print media. The brand also prefers placing the ads regarding their wide variety of products
in the newspapers, television channels, hoardings, billboards, radio, magazines etc. The company
also make use of celebrity endorsements by roping in various well known personalities like
Antonio Banderas etc. The company considers its own website as the most efficient platforms to
promote its goods and also various information such as discounts, incentives, offers etc. are also
updated regularly on the same (Hayat and et.al., 2019).
People
The people working in the company are trained in various persuasive techniques and also
show respect to the customers by considering their needs and preferences. The people in M&S
play a major role in delivering the best possible services to the customers as they address all their
issues and strive hard to resolve them (Le Meunier-FitzHugh, 2021). The employees in M&S
also build stronger relationships with the suppliers for obtaining the raw materials. This helps to
improve the quality of the final products and services which are delivered to the customers.
Physical Evidence
The major physical evidence of M&S is its online website which is much user-friendly
and also allows the customers for viewing the products in images of higher quality which are
taken from various angles. The company also sells its products in packaging of distinct colour
which can be identified very easily in the stores. The customers can be easily facilitated by this
distinct packaging and can easily locate the products in even the busy stores of M&S.
Process
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The major marketing strategy which is used by M&S is its online delivery process in
which the company receives the order online in the computer system and accordingly the
products are delivered at the doorsteps of the customers. The company ensures that all the
products in which the company deal are available at its stores and also they have the systems
installed in the same which can help in notify about the low inventory levels. The process of
analysing the needs of the customers is also carried out in M&S through the feedbacks which are
given by the customers and the social media pages.
This is how, the marketing mix of the company M&S helps the company in attracting majority of
the customers and also helps in gaining competitive advantage.
RELATIONSHIP MARKETING STRATEGY
Marketing management will fall upon the relationship marketing strategy in a part of holding
customers towards the organisational policies such that there will not be any loss of customer
base (Chernev, 2018). Relationship marketing strategy is important in every organisation in order
to build a kind of trust in the customers. Upon attaining a proper customer base it is important to
deal with the stakeholder management as well as a customer such that there will be increase in
sales and that can result in most profitable aspect. Marks and Spencer has gained a profitable
aspect in the marketing world. Therefore their achievements in this particular aspect are such that
they can derive the customer based upon a proper interaction that is maintained upon the
customer influence. Therefore whatever regulation that is employed upon the company Marks
and Spencer is said to be gaining a proper reputation that is important for its to tackle with the
circumstances that a prevailing in the environment of the company. The customer relationships
that is maintained by the company Marks and Spencer will boost trust among the customers and
their loyalty in terms of direct feedback that is attained through their interaction. The company
mainly focused upon developing the customer needs such that they can be a more relationship
that can be fixed upon meeting their aspect. Marketing is said to be done in a harmonious
environment yet there are controversial circumstances that are associated with it and therefore
the company has reached the point into not focusing upon the trust. Kind of diversification
strategy can be attained by the reputation that is generated by the company Marks and Spencer
such that it can stand as one of the reliable brands and many customers can choose it over the
other. there is heavy competition that is prevailing in the industry that Marks and Spencer is
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operating and therefore the company is in an age to maintain policies such that they can bind and
confirm their customers towards the best of their ability that that they cannot lose any of the
customers. With this policy the company aimed at first developing proper relation with the
regular customers such that they can get Habitat to the company's norms and policies and cannot
go anywhere. The company is more into following the reputational prospects yet there are certain
brand images that are deteriorating the customer relationships that is attained by Marks and
Spencer (MANUAL, 2019). In this prospect the company focused upon not relying upon the
brands such that their labelling will not cause any kind of barrier in maintaining a proper
relationship with customers. The company is more into strengthening its support by the things
that are contributing for its premium price strategy that will help it to win over the
circumstances. These will also be identified as the undermining policies to hold customers.
Recommendations
Various recommendations can be given to the company Marks and Spencer in order to
make its marketing strategies more efficient and effective which are as follows:
 The company must add extra benefits at the time of purchasing including the after-sales
service, helpline services, warranties etc. This will not only increase the goodwill of the
company but will also increase the number of loyal customers.
 M&S must also introduce completely new products having price penetration strategy in
which the price is lesser as compared to the competitors which can help in gaining market
share.
 The online shop and the website of the company must be integrated with the social media
pages which can help in generating more sales and providing easy navigation to the
customers.
 The company must use various media channels for promoting its products and must
undergo various techniques of digital marketing such as Search Engine Optimization,
banner advertisement and blog creation.
 M&S must also hire influencers such as the popular TV or movie stars and bloggers and
must include them in the various advertisements of the products and services (Jin, Miao
and Park, 2018).
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 The company must provide trainings to the sales force so that they can deliver the best
value to the customers and also they must hire those employees who can respect the
customers and also they have a sense of belongingness towards the company.
 M&S must strive hard to bring innovation in the company by innovating its processes in
terms of cost and efficiency. The savings in terms of cost can help in lowering the prices
of the products.
 The company must more focus on collecting feedback from its customers so that it can
bring regular changes according to the needs of the customers (Sarker and Al Saeed,
2020).
 The shopper friendly environment and ambience must be set in the stores of M&S so that
the customers can be encouraged for purchasing the products.
CONCLUSION
The above report focussed on the effectiveness of the marketing strategies implemented by
Marks and Spencer which is one of the biggest supermarket chain headquartered in London, UK.
It also shed light on the Segmentation, Targeting and Positioning which is carried out by the
company in order to attract larger number of customers. This was followed by describing the
marketing mix of the company in which various marketing strategies were elaborated using the
marketing mix factors such as Product, Price, Promotion, Place etc. Relationship marketing is
also highlighted in the report followed by various recommendations for the company M&S. The
report overall analysed the marketing strategies of the company and the ways in which it helps in
gaining higher customer base and the profitability.
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REFERENCES
Books and Journals
Arustamyan, A., Al Taj, S. and Nasir, A., 2020. ROLE OF STRATEGIC MARKETING IN
CREATING ORGANISATIONAL VALUE. Journal of Education & Humanities
Research, University of Balochistan, Quetta-Pakistan. 10(2). pp.42-66.
Chernev, 2018. Strategic marketing management. Cerebellum Press.
Deepak and Jeyakumar, 2019. Marketing management. Educreation Publishing.
Foroudi and et.al, 2017. Digital technology and marketing management capability: achieving
growth in SMEs. Qualitative Market Research: An International Journal.
Hayat, K. and et.al., 2019. Impact of Green Marketing Mix (4Ps) on Firm Performance: Insights
from Industrial Sector Peshawar, Pakistan. Sarhad Journal of Management
Sciences. 5(1). pp.143-156.
Jin, H., Miao, Y. and Park, S.T., 2018. A Case Study of Marks and Spencer lost China. Journal
of Industrial Convergence. 16(2). pp.15-23.
Katsikeas, C., Leonidou, L. and Zeriti, A., 2019. Revisiting international marketing strategy in a
digital era: opportunities, challenges, and research directions. International Marketing
Review.
Kotabe and Helsen, 2020. Global marketing management. John Wiley & Sons.
Le Meunier-FitzHugh, K., 2021. Marketing: a Very Short Introduction. Oxford University Press,
USA.
Leite, B.T.D.S., 2020. Marks & spencer out of fashion the case of an outdated brick and
mortar (Doctoral dissertation).
MANUAL, 2019. Marketing management.
Martínez-López and et.al, 2020. Industrial marketing management: Bibliometric overview since
its foundation. Industrial Marketing Management. 84. pp.19-38.
Park, 2020. Marketing management (Vol. 3). Seohee Academy.
Sarker, T.R. and Al Saeed, L.S.L.A., 2020. Benchmarking Marketing and Business Strategy of
UNIQLO to Start-up a Retail Shop in Bangladesh. Benchmarking. 12(2).
Online
Bhasin, H., 2019. Marketing Mix of Marks and Spencer. [ONLINE]. Available through :<
https://www.marketing91.com/marketing-mix-of-marks-and-spencer/>
David, J., 2017. Marketing Mix of Marks and Spencer. [ONLINE]. Available through :<
https://howandwhat.net/marketing-mix-marks-spencer-ms/#:~:text=Promotion
%20strategies%20of%20Marks%20%26%20Spencer%20(M%26S)&text=The
%20company%20is%20now%20focusing,30%25%20off%20on%20some
%20products.>
Marketing Management: [Online]. Available through: < Marketing Management: Meaning and
Importance of Marketing Management – Explained! (yourarticlelibrary.com) >
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