(solved) Marketing Management PDF
11 Pages3709 Words398 Views
Added on 2020-11-23
(solved) Marketing Management PDF
Added on 2020-11-23
ShareRelated Documents
Marketing Management
Table of ContentsINTRODUCTION ..........................................................................................................................3TASK...............................................................................................................................................4Marketing Audit of M&S ......................................................................................................4Research on market segmentation .........................................................................................5Marketing strategies ..............................................................................................................8CONCLUSION .............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTION Marketing management is an art in which organisation choose a specific market andattract the customers by providing value of money to them. It is a strategy which is implementedby the organisation for satisfying the needs of customers through which the firm can increasetheir sales and revenue along with maximizing the profitability and defeat the competitors in themarketplace. It also guide the management in making a plan of action which will enhance themarketing performance of the firm. On the other hand, marketing is a process of makingrelations with customers and satisfying their needs with providing value of money to them. Thechosen organisation for this assignment is Marks and Spencer which is a British multinationalretailer that was established in 1884 in Leeds, UK by Michael marks and Thomas Spencer. Thisproject will discuss about the current performance of the organisation along with its currentmarketing strategy and position in the marketplace. Market segmentation, buying behaviour ofcustomers, Market environment and targeting strategies will also covered in this report.MAIN BODY Brief Introduction of firm-Marks and Spencer is an organisation which engages inretail sector and have an long experience of more than 100 years. It is a British multinationalorganisation with headquarters in west minister, London. It provides variety of products such asclothing, home products, furniture and food products to their customers. According to thefinancial report, the company have earned 10.7 billion pound revenue in the year of 2017. Thecompany gave emphasis on the quality of products due to which their brand image is increasingon regular basis. Organisation is providing their products and services in more then 50 countriesacross the world (MAHM, 2017). Company has more then 80000 employees who are providingtheir services in these nations. In current scenario, company has grow their business in onlinesector. They have launched their new websites in various countries in order to increasing theircustomer base in these nations. The main competitors of M&S are Primark, Aldi, Tesco plc etc.who gave tough competition to the firm in marketplace. M&S provide a variety of products andservices to their customers due to which they have achieved competitive advantage in themarketplace. The current position of the firm is #2 in the UK market. Therefore, the managementof M&S have decided to conduct a marketing audit for improving their position and customerbase in the marketplace.
TASKMarketing Audit of M&S Marketing audit – It is defined as a review of the current plan, objectives and activitieswhich are performed in a firm. In other words, it refers to an analysis, evaluation andinterpretation of marketing plan. With the help of this audit, management can identify theweaknesses of the firm and find opportunities for improving them. As company wants to modifytheir existing plans and strategies for the marketplace therefore, management have to conduct amarketing audit which is given as under:PEST analysisIllustration 1: What is PEST analysis ?Source: What is PEST analysis?. 2018 Political – This part is related with the political conditions of the nation which can affectthe operational activities of firm in positively and negatively manner. The firm is mainlyoperating their business activities in UK market So, the free trade agreements and Europeanintegration of government has motivated new market and firms of other nations to invest inEurope which affects sustainability and productivity of M&S.Economical – It is related with economic conditions of a country which can affect thebuying behaviour of residential in positive and negative manner. The present economic situationof UK is favourable for the firm as the interest rates are down. With the help of it, firm can easilyexpand their business in new market places (Shaw, 2016). Management of M&S has to focus onclothing line because most of the youngsters expands their 70% of income on clothing products.It will increase profitability of the firm.
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
e an evaluation of the organisations current marketing strategy and position in the market On Mark and Spencerlg...
|11
|3650
|80
Introduction to Marketing Assessment - Marks and Spencerlg...
|12
|3821
|363
Analyse Marketing Strategy of M&Slg...
|13
|4101
|290
Introduction to Marketing Assignment : Marks & Spencerlg...
|14
|4255
|371
Business Strategy for Marks and Spencerlg...
|15
|4738
|36
Introduction to Marketing Assessmentlg...
|11
|3661
|358