Marketing Mix: Analysing Key Changes in Marketing Environment

This report discusses the usefulness of the marketing mix for marketing managers in analysing key changes in the marketing environment. It includes a case study of Marks and Spencer and explains the seven Ps of the marketing mix. The report also highlights the importance of the PESTEL analysis tool.

Marketing Across Boundaries

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Discuss how the model helps marketing managers analyses the key changes in the marketing
environment.................................................................................................................................1
Usefulness to the marketing manager..........................................................................................3
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Marketing models are significant in order to provide accurate guidance and direction to
organisation so that they can take correct decision. Marketing mix of marketing is effective and
useful marketing model that assist in determining and analysing different aspects regarding
marketing and its practices (Kertcher, Venkatraman and Coslor, 2020). This report is based on
Marks and Spencer company. This is one of the well known British multinational retail
organisation which is providing products and services of clothing, food and home products.
Founder of this organisation is Michael Marks and Thomas Spencer. This company is offering its
services in worldwide market area. This report includes information about marketing model that
helps marketing manager to successfully analyse changes in marketing environment.
MAIN BODY
Discuss how the model helps marketing managers analyses the key changes in the marketing
environment.
PESTEL analysis is one of the significant tool that could be consider by marketing manager
in order to analyse the key changes in the marketing environment. PESTEL stands for political,
economic, social, technological, environmental and legal factors. these are the major and crucial
factors that will help manager of respective company to determine positive and negative affects
in order to take appropriate decision. It has been analysed that external market area of business
consist of different factors which can be not control by organisation and it will lead to have
major influence over decision making and performance of business.
Marketing is one of the essential parts of business that is helpful for enhancing performance
and capabilities of business to attain its goals. Through marketing practices Marks and Spencer
company is able to attract more and more customers and increase sales. Marketing mix is
effective tool that is used by business as well as marketer in order to determine products and its
brand offerings. Marketing mix tool includes 7 Ps that is product, price, place, promotion,
people, process and physical evidence. All of these are mention below in detail –
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 Product – Product alludes to what respective organisation are selling, including the
entirety of the highlights, benefits and advantages that Marks and Spencer company
customers can appreciate from purchasing your merchandise or services. When
marketing product of Marks and Spencer company marketing manager need to
contemplate the key highlights and advantages customers requirements or need, including
styling, quality and other elements of business (Matsuo and Aihara, 2021). The major
products and services of Marks and Spencer company are fashionable clothing, shoes,
accessories and many more.
 Price – This is refer as the valuing technique for Marks and Spencer company products
and services and what it will mean for customers. marketing manager ought to recognize
how much customers are ready to pay, how much increase you need to provide food for
overheads, your net revenues and instalment strategies, and different expenses. To draw
in customers and hold your upper hand (Goldberg and Steven-Waiss, 2020). It is crucial
for marketing manager of Marks and Spencer company to identify and analyse different
elements and aspects which is significant for selecting effective pricing strategy.
Marketing manager of respective company is consider cost that is included in developed
products in order to set pricing strategy of business.
 Place – Place is the area where Marks and Spencer company products and services are
seen, made, sold or conveyed. Access for customers to business products is vital and
guarantee that customers can discover. Place means where you decide to convey or
permit admittance to your product or service. It could refer to anything from a storeroom
or store to a web based business shop or cloud-based stage. Marks and Spencer company
is offering its products through both online and offline place in order to attract customers.
 Promotion – Promotion is one of the essential part of business that is significant for
attracting and influencing customers. These are the advertising exercises business use to
make customers mindful of regarding respective company products and services,
including publicizing, deals strategies, promotions and direct marketing. Marks and
Spencer company is considering traditional as well as modern approaches in order to
promote products and services.
 People – People refers to the staff and salespeople who work for business. Those people
who are engaged with selling a product or service, planning it, overseeing groups,
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addressing customers (Creary and Locke, 2021). Effective and magnificent customer
service converts to deals, yet can build customer base by references. People of Marks and
Spencer company are highly trained and skilled that is significant for performing business
practices in more accurate and appropriate manner.
 Process – Process can be describe to the system which is associated with conveying
products and services to the customer. The process of conveying your product to the
shopper ought to be intended for most extreme proficiency and dependability. Marks and
Spencer company process is significant for creating high quality products that is helpful
for full filling needs and requirements of customers.
 Physical evidence – Physical evidence refer to everything customers see while
associating with your business. Any services or products got consider physical evidence.
As do any semblance of your receipts, packaging, tracking information, invoices,
brochures and so on. Marks and Spencer company brand image is very strong and it can
be consider as its physical evidence as it will lead to enhance performance of business.
Usefulness to the marketing manager
Marketing mix is significant tool that is helpful for marketing manager of Marks and
Spencer company to identify and analyse different elements of business such as product, price,
place, promotion, people, process and physical evidence (Wiltshier, 2021). This will assist
marketing manager to gain appropriate knowledge about different concept and assist in taking
better decisions. Through this respective company will be able to determine different issues and
complexities to conducting activities and task in appropriate manner. This will support marketing
manager to take correct and effective decision for business that will lead to enhance overall
performance of organisation (Sheth, 2020). Through marketing mix tool manager of marketing
mix tool will be able to determine various aspects which will lead to have impact over business
and its practices. This assist in developing effective strategies for growth and development of
business.
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CONCLUSION
From the above report it has been analysed that marketing mix is helpful tool that assist
marketing manager to determine and analyse different elements regarding market as well as
business with the motive of enhancing business performance.
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REFERENCES
Books and Journals
Kertcher, Z., Venkatraman, R. and Coslor, E., 2020. Pleasingly parallel: Early cross-disciplinary
work for innovation diffusion across boundaries in grid computing. Journal of Business
Research, 116, pp.581-594.
Matsuo, M. and Aihara, M., 2021. Effect of a community of practice on knowledge sharing
across boundaries: the mediating role of learning goals. Journal of Knowledge Management.
Goldberg, E. and Steven-Waiss, K., 2020. The Inside Gig: How Sharing Untapped Talent Across
Boundaries Unleashes Organizational Capacity. LifeTree Media.
Creary, S.J. and Locke, K., 2021. Breaking the Cycle of Overwork and Recuperation: Altering
Somatic Engagement Across Boundaries. Organization Science, pp.1-28.
Wiltshier, P., 2021. Managing Tourism across Boundaries through Communities. University of
Derby (United Kingdom).
Sheth, J.N., 2020. Borderless media: Rethinking international marketing. Journal of
International Marketing, 28(1), pp.3-12.
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