Marketing Management: Analyzing the Market, Consumer Segments, and Major Players

This assignment explores marketing management, focusing on the market analysis, consumer segments, and major players in the industry. It discusses the market size, financial performance, and external analysis of a retail firm, Marks & Spencer. The assignment also delves into market segmentation based on industrial, demographical, geographical, and customer behavior factors. Additionally, it provides an overview of the major players and their brands in the marketing management field.

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ASSIGNMENT TITLE: OPTION 4
MARKETING MANAGEMENT

Table of Contents
Introduction......................................................................................................................................3
I) Defining the market.....................................................................................................................3
II) Analyzing the consumer segments.............................................................................................8
III) Major players and their brands (Referred to as PPT)..............................................................10
Conclusion.....................................................................................................................................10
Reference List................................................................................................................................11
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Introduction
Marketing management involves specific discussion of business marketing of different
organisations significantly. Basically, marketing explores specific products of a respective
organisation, its pricing system, reproductive system, advertising system, customer relationship
and other business related perspectives of respective business industries subsequently. However,
in this respect, business professionals and leaders plan and discuss hugely in order to gain higher
market reputation and value adequately. The thesis statement of this assignment study is to
analyze costing system, customer relationship management, productivity, profitability and other
respective perspectives of business insignificantly.
Overview of the chosen organisation and products: In order to discuss marketing
management, one has been chosen a retail firm named Marks & Spencer. This organisation was
founded in 1884 in the UK. Headquarter of this organisation is in London, UK and this business
has been spread out throughout the world itself. However, total revenue of this organisation is
$10.300 billion and its total operating income is $762.5 million. Important information needs to
include in this context that its profit is perhaps $481.7 million according to the year of 2015.
Breakfast cereals have significantly higher demand in marketplace of UK and this product is
noticeable available in this respective company as well.
I) Defining the market
Marks & Spencer’s is a reputed and signified retail industry in the UK. In order to discuss the
market of this industry, one should include that it is a respective business industry and it has
worldwide business significantly.
Market size
Basically, this company was founded in 1884 by Sir Michael Marks and Thomas Spencer in
Leeds, UK. Along with this, it is to be signified that although its headquarters are in London, UK
but still its business is running throughout the world itself (Gill and Broderick, 2014 p.179). This
company specifically provides clothing, home products and other food items significantly. Along
with this, it is to be highlighted that this company has started selling Kellogg’s Cornflakes in
November, 2008 as breakfast cereal significantly. Therefore, regarding breakfast cereals, this
company is trying to grab the market value and reputation significantly.
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However, this company has a huge number of stores throughout the world including UK
(Hussein et al. 2016, p.123). In this respect, it is to be signified that it has 914 stores in total in
the UK itself and along with these, 222 owned and 349 franchise food stores. Regarding
international stores, it is to be informed that in India, it has 52 stores, 48 in Turkey, 47 in Russia
and so on. According to the chairman of the organisation, they are trying to fulfill all the
customers’ requirements of daily needs significantly. Its total revenue is respectively $10.300
billion and operational income is subsequently $762.5 million respectively (Kim et al. 2014,
p.114).
Financial performance: The financial performance of Marks & Spencers is signified according
to high business leaders and professionals. In this respect, a following table can be included
respectively.
Table 1: Financial Performance of M&S
(Source: Bentley et al. 2013, p.780)
Internal Analysis
Marks & Spencer’s organisation is highlighted in this sense that it sells clothing and home
products respectively to its customers (Lionakis and Avlonitis, 2014, p.480). Along with those
products, it is to be highlighted that breakfast cereals including corn flakes, oats etc are sold by
this business organisation so that the customers can be able to fulfill their requirements
adequately. In this respect, it is also to be notified financial earnings and profits of this
organisation are huge during last two to three years, according to different business professionals
(Pinto et al. 2015, p.115). Earning profit of last two to three years is more than 9536.6 UK Pound
every year.
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However, human resource management of this company is significant in this respect that it
manages all the possible sides of employees respectively. This management manages financial,
human, and other related perspectives of this organisation. Along with this, it has also high
signified management of training and leadership. This organisation selects and recruits capable
and talented employees in order to gain high profitability and productivity in order to develop its
business perspectives throughout the country as well as throughout the world itself.
Learning and development criteria are also highly reputed in this sense that a number of business
professionals and leaders provide various norms and rules in order to manage and develop this
organisation and also provide customer relationship significantly (Ahmed, 2016, p.61). In this
respect, it is also to be mentioned that costing system of this organization is looked over by
professionals with great concern and concentration. Therefore, the costing system of different
products, including clothing, home products as well as other food products which highly include
breakfast cereals in order to fulfill all the essential requirements of their customers to live a free
and crisis free life adequately. If customers can be able to get all the requirements of their daily
life, then it is obvious that they must be attached with this organisation subsequently (Ryding et
al. 2015, p.280).
External Analysis: Regarding external analysis, PESTEL and SWOT theories are highly
demandable for this organisation remarkably. Those theories are discussed thoroughly in this
context significantly.
1. PESTEL Analysis
Political: Political environment evaluates financial profits as well as loss in respect of M&S
organisation. It is to be signified that political difficulties including governmental crisis and
chaos motivates the loss of every organisation including M&S significantly.
Economic: The economic condition of M&S highly depends on the current market situation as
well as position in the market significantly (Metzger, 2014, p.140). Not only this, its economic
condition is deteriorating as VAT of this organisation is rapidly increasing from 17.5% to 20%.
But, according to business leaders and professionals, it is highlighted that management system of
this respective business organisation can be able to recover this crisis as well as poor condition of
their business perspectives surely.
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Figure 1: PESTEL Analysis of M&S
(Source: Brunvall et al. 2016, p.111)
Social: As M&S is developing rapidly throughout the world as well as throughout the UK,
therefore, a strong competition has been arriving among all the retail firms of the UK of same
business products. Other companies are trying hard to increase their market value, reputation as
well as customer relationship significantly in order to go further from M&S in productive, profit
and other positive conditions (Petronila, 2014, p.131).
Technology: In order to continue these business perspectives reputedly and fruitfully, M&S
provides high technology in order to run up their online delivery business and other respective
delivery processes subsequently. Not only delivery processes, rather in order to keep their
management and organisation safe and secure, CCTV, microphones, mobiles, televisions are
important technologies in this company.
Legal: M&S includes a number of governmental and legal rules and norms in order to manage
and continue business perspectives smoothly, freshly and innovatively. Legislation helps to
innovate and improve communication process and other possible processes which are essential in
a reputed business organisation noticeably.
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Environmental: Regarding environmental background of this organisation, it is highlighted to
mention that its environmental situation is remarkable as the business products including
breakfast cereals are highly influential and demandable among respective customers as well.
2. SWOT Analysis
Figure 2: SWOT Analysis of M&S
(Source: Shrestha, P.N., 2017, p.1)
Overview of products
Regarding products of M&S organisation, it is to be highlighted that garments of men, women,
old people, babies and children all are available significantly (Doore et al. 2015, p.23). The
remarkable brands of garments are termed as Portfolio, Indigo Collection, and North Coast and
so on. However, except garments, this organisation also sells home products, luxury food items
including breakfast cereals remarkably. One of the chief food product is to mention in this
context is none other than Kellogg’s corn flakes. Rather oats, almonds are also significantly sold
in this company which is highly reputed and demandable among the customers (Blattnig et al.
2012, p.20). Some signifying brands of this organisation are Portfolio, Indigo Collection,
Autograph, and Marks & Spencer and so on.
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II) Analyzing the consumer segments
Market segmentation is done by every business organisation including M&S in order to provide
comfort and satisfy their customers regarding business products. In this respect, it is to be highly
mentioned that there are different types of market segmentation which help business organisation
to build up significant and good customer relationship with organisations adequately. However,
those market segmentations are included as industrial, demographical, geographical,
professional, personal, characteristics and behaviors of customers.
Industrial segmentation: Organisations can be able to market segment in industrial way.
Different industries have different business products significantly (Sogn-Grundvåg et al. 2013,
p.41). For example, M&S sells clothing, home products and food items including breakfast
cereals. In this respect, it is to be identified that people who want those mentioned products; they
will surely visit retail industries including M&S significantly. Therefore, organisations can be
able to market segment in industrial way.
Figure 3: Segmenting consumer markets
(Source: Hood et al. 2016, p.113)
Demographical: Every organisation including M&S uses demographics as an essential and
innovative weapon in order to divide customers in different groups as well. Those groups signify
age, gender, sex, race, cultural, color and so on. People of all ages, people of both genders,
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people of all races, color, cultural do not require similar products all the time individually. In this
respect, organisations must have to market segments demographically (Haddock‐Fraser, 2012,
p.327). For example, garments of both genders are different and therefore, male persons do not
buy garments similar to women. Accordingly, babies cannot able to eat solid foods like adult
people. Therefore, people buy liquid foods for babies significantly.
Geographical: Location, area, city, country is highly signified in order to market segments in
respect of organisations including M&S. it is to be notified that organisations, which are local,
they cannot be able to sell their products to all the people throughout the world. On the contrary,
it is to be mentioned that international organisations can be able to reach as well as sell their
business products to every people throughout the world. For example, M&S is an international as
well as worldwide company and it has a large number of stores throughout the world itself.
Therefore, this company can surely be able to sell their products to all the customers throughout
the world significantly.
Customer behavior: Market segmentation is also done by identifying customer behavior. It is
identical that every organisation has a number of customers and their behaviors are not similar to
one another. There can be include buyer controlled behavior, search dominated, local intent,
social media growth, personalized buying behavior and other respective customer behaviors
insignificantly.
Buyer controlled is an element which helps organisations as well as buyers to buy required
products significantly. At earlier times, organizers or marketers used to ask their customers
regarding their requirements. But, nowadays, organisations provide prospects and customers get
the detailed information regarding products (McLaren et al. 2016, p.117). Search dominated
consumers involves such customers who try to find the best product according to their
requirements by searching rapidly the best one. Buyers try to find requirements from the local
industries as well but unfortunately, they remained unknown regarding products of organisations
significantly. This has become the easiest way to gather information regarding products of
organisation significantly. In this respect, it is to be signified that online shopping and mobile
help people as well as customers in order to gather information regarding products of
organisations in local intent respectively.
Customer characteristics: different customers have different categorical characteristics
respectively. In this respect, four essential characterized are mentioned in this context
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simultaneously. Those are included as personalized products and services, convenience as the
new loyalty, personal treatment and awesome companies to buy from.
Personalized products or services signify those customers who require their products exactly
according to what they want (Hammerschmidt et al. 2015, p.119). For example, if a respective
customer requires Kellogg’s corn flakes from M&S Company through online business delivery,
he or she will order the product with product name, brand, and quantity respectively so that the
retailer can be able to understand what exactly the requirement of the customer is. In the most
recent days, customers believe in loyalty. They think that if they are convinced by some
marketers of a respective organisation, then that organisation of marketers is respectively loyal.
There are some other respective customers who buy the best product of their requirements from
the best company as well. In this respect, it is to be mentioned that TESCO, ASDA, M&S are
respective companies of retail industry. Customers will buy their requirements from the best
company as well.
III) Major players and their brands (Referred to as PPT)
Conclusion
In order to conclude marketing management, it is to be highlighted that all the process of
marketing including costing system, market segmentation, market analysis are essential. This
assignment study has been provided all these important and useful context of marketing
management in order to provide detail information to all the people influentially. However, in
this respect, it is to be identified that M&S, its products and its competitors have been described
thoroughly in order to provide all the information of marketing management thoroughly.
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