Marketing of Marks and Spencer Assignment

Marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1 What is marketing?............................................................................................................1
1.1 An explanation of marketing activities.............................................................................1
1.2. Market segmentation.......................................................................................................2
1.3 The marketing mix...........................................................................................................3
TASK 2 Market research.................................................................................................................4
2.1 The aims of market research and market analysis............................................................4
2.2. Different research methods..............................................................................................5
2.3. Market analysis tools.......................................................................................................6
TASK 3............................................................................................................................................6
3.1 Methods used to e-market products and services.............................................................6
3.2. Managing online image...................................................................................................7
TASK 4 Applying your learning......................................................................................................8
4.1. Using market analysis techniques...................................................................................8
4.2. Interpret findings of market research..............................................................................9
4.3. Present findings.............................................................................................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing is termed as a process or action of business in order to promote and sell
products and services by way of marketing research and also advertising (Armstrong, Kotler,
Harker and Brennan, 2015). In the following report, Marks and Spencer has been taken into
consideration. It is a major British multinational retailer headquartered in Westminster. In this
report, various marketing research methods and techniques has been analysed. Further, various
types of market segmentation has been discussed. In addition to this, marketing mix has been
discussed of Marks and Spencer.
TASK 1 What is marketing?
1.1 An explanation of marketing activities
Marketing is a social process in which groups receive what they need through creation
This is an economic action related to the sale, dilation, and advertising.
Marketing activities take different forms
It is based on a team of diverse techniques in terms of continuously collecting, analysing
and processing information and also making the decision-making process much easier and
smoother.
Marketing is also a system of economic activity that leads in meeting the needs of
buyers. They are termed as observations and anticipated changes in the environment to adapt
and communicate with the environment (Babin and Zikmund, 2015).
The mattress strategy is part of the overall business strategy. It has a functional nature;
implementation of the strategy to practice. The development of a comprehensive marketing
strategy of a company may include the following activities: Formatting the mission and vision- The mission and vision statement is a declaration
that is narrower, future oriented of a purpose and aspirations of a particular organisation Market opportunities- It is a tool that leads in identifying and accessing attractiveness of
a business opportunity. It is also a part of business planning or process in terms of
strategy. It becomes necessary to analyze market so that they can determine probable
profit and revenue from it. Target selection of marketing activities- A target market is that group of activities which
is defined as a group that is more likely in buying product or service of a particular
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company. This will help them in adopting marketing activities accordingly that may
attract large number of customers towards the brand. Market segmentation- It is that process that leads in division of potential customers into
particular group or various segments as per different characteristics. The segments that
are created are basically composed of consumers that may respond to marketing
strategies. Precognition of demand- This is termed as extra sensory perception that would allow a
person in order to perceive future events.
 Determination of quantitative goals- The company must try to determine about the
quantitative goals. This will help them in attracting huge volume of customers and
company may reach the boost.
Elements of Strategy are:
 Mission
 organization Role
 means place
1.2. Market segmentation
Market segmentation is based on patterns and procedures No less important is the
segmentation of the market before we start selling for a wide scale Segmentation is aimed at
increasing sales effectiveness by adjusting the marketing strategy The task is to identify
uninterested and in certain marketing activities convince the product or service or exclude that
the company could save time and money.
The criteria can be divided into two groups:
 Referring to the consumer
 Criteria relating to the purchase
There are usually four main segmentation elements
The first two include the characteristics, for example, it consists in adapting cosmetics or
clothing to clients (Burns, Bush and Sinha, 2014).
For example, clients with the same geodemographic characteristics (age, back, profession) have
different needs and requirements for certain services.
Market segmentation strategies
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 Geographical segmentation- This done when business basically divides its market as per
the geography. It includes areas like cities, regions, countries. They can also segment
their market as per rural, suburban or urban areas.
 Demographic segmentation- This means cited company divides its market as per age,
race, religion, gender, family, size, ethnicity, income or education.
 Socio economic segmentation- This means group is segmented as per their characteristics
that includes income, occupation and education taking into consideration.
1.3 The marketing mix
Marketing Mix is a marketing composition based on the ability to use product awareness
to increase the demand for a product (De Mooij, 2018).
The mix marketing tool is a brand, packaging, basic product properties and services associated
with it. These are four ingredients that we use for any product
It is:
 Product- the product portfolio in Marks and Spencer is wide as it covers items fgor
all age group as for men, women or children's. They offers various sections of
goods and services to customers.
 Place- it is an international brand that has more than 1000 stores operating all over
the world. They also have their own website from where customers may feel easy
in order to buy products and they can also enjoy home delivery service.
 Price- they mainly follow competitive pricing strategy. Thus, during seasons they
adopt dynamic pricing strategy for goods and services that is offered by them.
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 Promotion- the promotion strategy that is used by cited company is that they use
print media, TV ads, mobile ads and various other campaigns related to social
media. They also attract majority of customers by running special loyalty program
that may add points to accounts of customers in terms of amount that they have
spend while shopping products of a particular brand.
TASK 2 Market research
Market research involves gathering information about processes, phenomena and their
causes (Gatautis and Vitkauskaite, 2014).
Its aim is to obtain information on the basic mechanisms on the market, among others, the
demand for the price of consumer products
It is the acquisition of information about the project before we bear the
costs. Preferences change like fashion
2.1 The aims of market research and market analysis
The most important features characterizing the research belong
 the systematic consist in carrying out research systematically
 the appeal is the research that supports the decision-making process
 Thanks to research, it is possible to shape solutions
The goal of marketing research is to explain the essence of change recognition of various
types of motivating changes in the supply of improvements in the issue of the assortment of
companies
The bake of basic market research is a research group:
 Interview- This is a form of primary research. In this, cited company may directly go to
customers in order to learn or identify their needs and also their opinions in terms of a
product. After this only a company may get access towards secondary research.
 Observations- observation is a qualitative method in order to collect and analyse
information that has been obtained through directly or indirectly watching or by
observing others in naturally or planned environments.
 Field works- this term is mainly used in order to collect primary data from various
external sources. It is followed by step of data processing and later analysing and also
reporting.
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2.2. Different research methods
Research methods is a set of actions to collect and process information about the
market of support of the needs and mechanisms that guide the behavior of people (Godey
and et.al., 2016).
Research must be comprehensive, market research methods are the basis of the company's
kernel Planned and objective implementation of qualified collection methods
The organization of teaching is the choice of appropriate teaching methods
Marketing research is a systematic objective and objective process of acting and
presenting information for the purpose of making marketing decisions.
 Research scheme- This helps in providing advice that are independent in order to carry
out marketing research without any cost. It may be on either for new markets or re-
evaluating the existed one.
 Research problem- It is a clear expression about area of concern or about a condition on
which cited company has to improve on.
 General purpose- The general purpose is only to gather data on consumers and customers
that are potential.
 Specific objective- The objective mainly concludes about the achievement of a particular
study.
 General population Unit of study- it is the entire set of units for which data of survey is
used in order to make interference.
 Population- it is a study of a group of various individuals that has been taken from
general population where they share common characteristics as age, sex, or various
conditions related to health.
 Measurement method- this leads in determining that sampled cases are therefore eligible
or ineligible for survey.
 Data reduction- it refers to that process that includes selection, focusing, simplifying,
abstracting and transformation of data that may appear in transcriptions.
 Research report- this provides methods and procedures that are involved in research study
or experiment. This also helps in providing enough information that may help researchers
to bend on.
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2.3. Market analysis tools
Market analysis is an activity that changes knowledge of phenomena and preserves the
use of information (Hair Jr and Lukas, 2014)
Is a tool for strategic management. The objectives of market research are:
 Questionnaire surveys- it is a survey that is done as per written set of questions which
leads in describing contents. This helps in collecting information in written method.
 Consumer panel- it is that term which refers to as customers groups that is situated in
specific areas. These are recruited in order to take opinions regarding products and
services offered by cited company.
 Motivational research- this is that type of marketing research that mainly attempts in
order to explain the behavior of a particular consumer. This leads in order to discover
and comprehend what is not understandable by consumers about their self.
 Market observation- it is a technique of social research that mainly includes direct
observation in natural setting.
SWOT
Swot analysis is termed as that framework that is basically used to evaluate competitive
position of a particular enterprise in order to identify strengths, weakness, opportunities and
threats. In addition to this, it is a foundation assessment model that measures about organization
and also its potential opportunities and threats.
PESTLE
It is that framework that is used to analyze and monitor the macro environmental factors that
may have profound impact on the performance of an organisation. It is extremely useful in order
to start new business or in entering into foreign market.
TASK 3
3.1 Methods used to e-market products and services
E-Marketing is a form of advertising sent to consumers by electronic means.
There are various forms of advertising that are used to send marketing information and acquire
clients.
E-Marketing refers to the concept of permission marketing. The recipient of the marketing
message has to agree to receive it otherwise the email turns into spam
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E-commerce is a commercial transaction between the buyer and the seller, the most common
are online stores
Many goods can be purchased quickly and online There are different types of trade:
 -Handel between companies-
 -handle between the company and the consumer
 Electronic lamp between consumers
 electronic bulb between the consumerist and the company
E- marketing
E marketing is also known as marketing of goods and services through internet. In this,
it uses various range of technologies that helps in connecting business to customers (Malhotra
and Peterson, 2014). Channels that has been used for this includes social media, email marketing,
affiliate marketing, websites etc. thus, e marketing activities has been discussed as per below
context-
 Email marketing- it is termed as act of sending message in commercial way to a group of
people using mails. This email that is sent in terms of business is considered as an email
marketing.
 Advertising- it is a form of promotion that includes information of a particular product or
services of Marks and Spencer. It also helps in knowing target audience.
3.2. Managing online image
In the management of the image, analysis is important
Before we commission the management of the reputation of your own brand, it is
important to check the reputation of the agency you have selected
Good management of the company had plans or guidelines regarding communication
Management could choose preferred and secure communication channels with media and
clients. Glownhmi's goal of determining the criticality of the media is the rapid spread of
information.
We can lose organizations through negative information
Good practices are the speed of reaction allows detection of threats in the context of social media
The location allows you to locate users
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Traditional marketing involves offline marketing, trade exchange between people was the result
of marketing strategy
Traditional marketing are activities carried out in reality, eg. Posters banners are outside the
Internet. It may also be an advertisement for a radio or television radio. Internet marketing has
emerged with the development of the network
So you can say that internet and traditional marketing are supplementary goods because where
traditional marketers reach, the internet also reaches. Traditional marketing is different from each
other but both forms can have advantages and disadvantages depending on the marketing
strategy chosen by the company
The benefits of internet marketing are reaching out to the older group of recipients, accounting
for kodztów
in a web-based company, you can tailor advertising to the client
In traditional marketing you can only see the ads it uses only statistical advertising Advertise in
traditional marketing each client will see the same
Summing up internet marketing is better, it reaches specifically to the client and is cheaper In
traditional, hard to effect, and advertising is very general and the campaign is high
Ways in order to maintain online image includes following-
 They may set up google alerts that may help them in notifying the company that
somebody mention about the brand either in good way or in bad way. This may also help
cited company to use in studying out competitors and also keeping complete information
regarding upcoming trends in market (Lovelock and Patterson, 2015).
 They may also become a social listener and create a plan in terms of social listening.
 They must launch a content strategy which leads the cited company in order to address
problems, build content and engage customers directly.
 They may also monitor feedback and make changes accordingly.
TASK 4 Applying your learning
4.1. Using market analysis techniques
Research is based on Marks and Spencer and it is a leading retailer company based in
United Kingdom. I have chosen Marks and Spencer for which I gathered information from
www.marksandspencer.com. Thus, I have chosen SWOT and porters five forces on business so
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that I can find out its actual position in thet particular country. This company has its commitment
towards value, service and also quality that was set up in year 1884 by michael marks. In
addition to this, he also openend small market stall in Leeds. Further, in year 1894 he desired to
jopin partnership with Tom Soencer. Office was therefore opened in Mancheschester that turn
their stall into Leeds to a covered arcade. Then in 1905 both of them died and 1930 store was
opened in Marble Arch which was opened by Michael marks with partner tom sopencer that
gave birth to M&S. In addition to this, food department was opened later.
Therefore, today M&S have one market stall that operates at Grainger Market in
Newcastle upon Tyne. Thus, 1916 Simon marks became chairman that made M&S as puvblic
limited company. Later the company begun to sell textiles sell produce and canned goods. In
1964 Simon Marks died and Israel Sieff took over as chairman. He introduced wine and
continental foods to the company. Simon marks died in 1964 and the chairmanship was taken
over by Israel sieff. Wine and continental food were therefore introduced by him. In 1999 M&S
launched their website that allowed customers that were potential to buy online. Now they have
600 stores in total throughout UK and 240 stores worldwide. They have annual sales in excess of
£8 billion, and in 2005/6 the company had employed around 67,000 with 65,000 within the UK.
Marks & Spencer now sells from healthy living food to kid clothes designed by David Beckham.
It would be described as one of the high streets the biggest leading businesses.
The purpose of the market analysis is to recognize the possibilities and conditions for the
development of activities (Zhang, 2015).
2.2 Vision
The main vision is to concentrate on future strategy making that leads in summarising
goals and objectives of particular organisation. It is also the source of inspiration that later
provides clear criteria related to decision making. They have one dream of being one of the
leading company in the global market.
2.3 Mission statement
The main mission of the cited company is to become the socially responsible and also
profitable with help of providing new quality products in various areas that are involved in
particular market.
2.4 objectives
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The main objective is to build exiting reputation for reliability and quality of service.
Marks & Spencer is helping in terms of demographic or the border value end of the market for
customers that are potential. Marks & Spencer offers customer high-quality merchandise at value
for money prices. In addition to this, increasing the profit 20% by 2011, thus, 25% increase in
cash flow in 2011 and introduce a new product in 2011 etc are the objectives of Marks &
Spencer.
2.5 measures
Marks & Spencer is an organization which has boarded of director to controls over
various activities managed and performed though out all branches of entire countries. The
performance can be therefore measured with the help of balance scorecard, considering sales in a
particular period and overall cost of company. In addition to this, internal process could be
evaluated or measured through the number of self serving machine that has been majorly
introduced in Marks & Spencer and number of kilogram of food items that has been wasted per
year. Through that business objectives of the company can be measured.
The main object is the previously defined market for market research techniques
 questionnaire surveys
 a panel of sale products
 a panel of consumers
 Market observation
Popular research techniques:
 -questionnaire- it is an instrument related to research which consist of a series of
questions. This helps in gathering information from various respondents.
 -computer- this is also
 Telephone interview- it is conducted by employer in initial or first round of the whole
process. This helps them in screening out the experience of candidates, qualifications
and salary expectations as per position in a particular position.
 a direct interview- is a survey method that is been utilized when a specific target
population is been involved. The purpose of conducting this is to explore responses in
order to gather information in deep manner.
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4.2. Interpret findings of market research
Market research involves analyzing the interpretation of information collected about
processes occurring on the market in a competitive industry.
Analysis is an element of market research is a research conducted in the field of market
research, which consists in a single set of information
Market research is the current and predictable future market
situation The analysis is understood as a set of activities
Porters 5 forces model
 Threat of competitors- this company operates in competitive industry. This affects long
term profitability. So to overcome this they have to build sustainable differentiation and
collaborate with competitors.
 Threat of new entrants- Threat of new entrants for marks and Spencer brings innovation
and also new ways in order to do things. They have to face number of challenges and also
build effective barriers in order to safeguard competitive advantage.
 Threat of substitutes- threat of substitute is high therefore, they van be service oriented
rather than being product oriented.
 Bargaining power of buyer- Buyers may desire to buy best offering that is available at
minimum cost. The bargaining power of customers is higher of marks and spencer. This
can be avoided by innovating new products and services is rapid manner.
 Bargaining power of supplier- Marks and Spencer buy raw materials from different
suppliers so those suppliers may decrease margins that cited company may earn in a
particular market. So they may avoid this by making or building effective supply chain
with multiple suppliers.
4.3. Present findings
Covered in PPT.
CONCLUSION
Marketing principles and techniques are mandatory because it can ensure success. The
right action and strategy can give good results. Thus, it has also been analysed that Marks and
Spencer is a leading retailer company and its competitive analysis with help of porters five forces
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model. In addition to this, it also helps in analysing various suggestions that may help them in
achieving long term success and company may reach the boost.
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REFERENCES
Books and Journal
Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction.
Babin, B.J. and Zikmund, W.G., 2015. Essentials of marketing research. Nelson Education.
Burns, A.C., Bush, R.F. and Sinha, N., 2014. Marketing research (Vol. 7). Harlow: Pearson.
De Mooij, M., 2018. Global marketing and advertising: Understanding cultural paradoxes.
SAGE Publications Limited.
Gatautis, R. and Vitkauskaite, E., 2014. Crowdsourcing application in marketing
activities. Procedia-Social and Behavioral Sciences. 110. pp.1243-1250.
Godey, B. and et.al., 2016. Social media marketing efforts of luxury brands: Influence on brand
equity and consumer behavior. Journal of business research. 69(12). pp.5833-5841.
Hair Jr, J.F. and Lukas, B., 2014. Marketing research (Vol. 2). McGraw-Hill Education
Australia.
Lovelock, C. and Patterson, P., 2015. Services marketing. Pearson Australia.
Malhotra, N.K. and Peterson, M., 2014. Basic marketing research. Pearson.
Zhang, Y., 2015. The impact of brand image on consumer behavior: a literature review. Open
journal of business and management. 3(1).
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