Marks & Spencer Marketing Analysis
Added on 2020-02-03
14 Pages3751 Words119 Views
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Marketing management
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11. Current Market Position..........................................................................................................1TASK 2............................................................................................................................................22. Marketing Objectives...............................................................................................................2TASK 3............................................................................................................................................43. Marketing planning..................................................................................................................4TASK 4............................................................................................................................................64. Marketing Communications plan............................................................................................6TASK 5............................................................................................................................................85. Gantt Chart and literature review............................................................................................8CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONMarketing management is regarded as an organizational phenomenon which emphasizescritically on all the major concepts of marketing. This can also be considered as a marketingorientation program which accentuates on techniques and methods that helps in promoting andmarketing a specific product in desired market place (Hogarth and Soyer, 2016). Thus, in thiscontext, the present research study has been made and the study is also emphasizing on Marksand Spencer which operates business in UK as one of the retail giants. In addition to this, discussion has been included regarding conceptual framework of marketingand how it aids Marks and Spencer to position the product in market place. Moreover, researcherhas also stated the significance of bringing fashionable clothing in market place. Apparently,afterwards developing any new product or service, it is crucial for the business entity toformulate communication plan so that awareness can be generated among the end users. Hence,considering the same aspect, the study has been discussing marketing and communication planfor fashionable clothing of Marks and Spencer. TASK 11. Current Market Position Over a few years, Marks and Spencer has been entering into different segments which notonly enhance product line of the company; but also underpins the marketing capabilities.Currently, the market position of Marks and Spencer is as high as other industry players such asTesco, Asda and Sainsbury (Marks & Spencer sales dive as market share takes a hit, 2016). Thisshows that integrated business of Marks and Spencer is significant in enhancing the success andgrowth aspects. Thus, moving on to the segment of clothing, it is identified that Marks andSpencer has fashionable clothing services for all types of age groups. As current market ischanging; so the needs and preferences of customers are also changing accordingly. However,during such years Marks and Spencer has also experienced several losses despite of theinnovative marketing strategies. Current marketing position of fashionable clothing has been increasing because Marksand Spencer is using the concepts of marketing in well-defined way. Earlier, Marks and Spencerhas only grocery products; however the business has entered in different segments for enhancing1
the market share (Gummesson, Mele and Polese, 2016). Entering in fashionable clothingsegment was one of the marketing innovations of Marks and Spencer. Considering this, thebusiness has all sorts of products for all the categories such as old age, kids and youngsters.Fashionable clothing is in demand as preferences of customers are changing on higher extent.Similarly, not only youngsters; but other category of people also prefers to use fashionableclothing. This is the reason that enhances the demand for products of Marks and Spencer. In UK, people prefer to wear fashionable clothing; hence emphasizing on social factors,Marks and Spencer has targeted all sorts of customers. However, the products are quiteexpensive and can be purchased by high profile customers only. Knowing this fact, Marks andSpencer has kept the brand name (Gummesson, 2017). In this respect, it is evident that Marksand Spencer has used all the concept of marketing in effective way. For instance- consideringsocietal marketing concept, Marks and Spencer has come up with all such products which arehighly demanded by clients. Female fashionable clothing is greatly in demand because M&Sproducts are highly differentiated with that to other brands. Furthermore, the concept of societal marketing has also helped Marks and Spencer todevelop better relationships with the end users. Henceforth, this leads the potential customers tostay back with the company and to contribute in enhancing company’s profitability (Fröhlich andGrimm, 2016). Meanwhile, Marks and Spencer has also used selling concept in prominent wayespecially by entering into online marketing. Currently, sales of the company is enhancingbecause the company is engaged in delivering convenient services to the end users. Onlineadvertisement not only enhances promotional value; but also it generates awareness amongcustomers regarding convenient products. Thus, this has helped the customers to promote theproducts to other end users as well. Hence, from the discussion it is clear that using themarketing concepts, Marks and Spencer has amended the market position of fashionable clothing(Fesenmaier and et.al., 2016). TASK 22. Marketing ObjectivesCurrently, Marks and Spencer has been focusing on developing the brand image of thebusiness and for that it emphasizes on bringing additional clothing services for the customers(M&S targets attitude not age to rebuild fashion business, 2016). However, over the future years,2
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