Contemporary Issues in Marketing

This article explains the concept of marketing and marketing mix with the example of Mark and Spencers. It covers the 4P's of marketing and their application in M&S. It also discusses the importance of marketing for businesses.

Contemporary Issues in
Marketing

TABLE OF CONTENTS
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Explanation of marketing............................................................................................................3
Description of marketing-mix.....................................................................................................4
Brief of 4P's of marketing-mix....................................................................................................5
Introduction of products..............................................................................................................6
Application of 4 P's of marketing for M&S................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Marketing refers to all the activities related to promoting and selling the goods and
services which includes advertisement and market research. This includes various concepts of
marketing such as product, selling, production, marketing etc.(Liu, 2017). Moreover, discuss the
marketing-mix with its importance with all elements of 4 p's product, price, promotion and place.
These all are essential factors of marketing with consumer wants and desire. Further, analysis the
role of marketing-mix with the example of Mark and Spencers, it is well-known brand of UK
that provides all types of products in terms of food, clothing for men, women and kids etc.
MAIN BODY
Explanation of marketing
Marketing is a process that involves all the activities related to promoting, researching,
distributing and selling the product or services (Hayat and et.al., 2019). The principle function of
marketing for companies is to increase the growth of the firm. Many of the organization uses for
achieving goal and objectives in order to gain more profit by selling more and more products or
services. It is the major function for all types of business whether it is small or large companies.
Advertising and selling are also key aspect of the marketing, another aspects are designing,
making content for social media, improving experience of the customer by researching and
establishment of market segment. Marketing is beneficial for business in such a way:
 Brand awareness- By this process it raises brand awareness among people who use
particular product or services, also make memorable for brand to its targeted audience
(Huotari and Hamari, 2017). It can help company to state the mission, vision, purpose
and values. This also fill gap between public and organization.
 Increasing revenue- For every business it is necessary to increases the marketing and
sales that can be help to achieve organizational goals that it increase revenue by
optimizing SEO and website of the company.
 Building trust- Marketing enhance the level of trust that can lead to customer loyalty
which results repeat purchase of the customer that is called brand trust.
In addition to this, there are different marketing strategies that is combination of tactics and
techniques.

Marketing Plan- It is a document that includes all the effort of any organization for a
particular period. The main components of business plan are market research that is backbone of
the marketing plan, target market, positioning, competitive analysis, market strategy, metrics and
budget etc.
Digital marketing- this refers to promote the product or services with the help of social
media such as Instagram, Facebook, watsapp etc. that are very trending nowadays for reaching
more and customer (Jarek and Mazurek, 2019).
Email marketing- It is most suitable strategy among all of them because it is most
effective and profitable technique in order to return. Basically, it includes through sending mail
to existing customer in terms of sharing information regarding the discount, offer etc.
Performance marketing- It is a methodology that apply various techniques and methods
for guarantees advertising that give results accordingly. This is only based on performance of the
organization in terms of brand image, reputation etc.
Description of marketing-mix
It refers to all the action and tactics that can be used by business in order to promote its
product or services. This helps customer to know about the product or services offered by
particular firm that help with developing, planning and executing the marketing strategies. Also,
consider that it uses the strength and also avoid the unnecessary cost of the product. It also shows
that availability of product with its specific location so that consumer can conveniently buy the
product or services to satisfy its need and wants. There are some advantages of marketing-mix
such as:
 Help in clean mix creation- All element of marketing mix are compatible with each
other, like price can be related on the basis of place of the product (Mamun and et.al.,

2021). As well as, price is compatible with the promotion, every P's are inter-related to
each other. Whenever company change the product, whole chain will go to moving
forward for making it longer.
 Increases portfolio of the product- It can be increased the by product line or depth by
making minor change in the product. This little changes increase the product portfolio
included with its promotion and pricing strategy.
 Development of new product- When company design existing product, there may be
number of ideas that can come up with new product. There is possibility that promotion,
pricing and place can be different for such products. It will be classified according to new
product while designing new product of the marketing-mix when it companies introduced
the good idea for new product development.
 Differentiate competitors- There are so many ways that can be differentiated the
product from the competitors because it may have poor promotion strategies followed by
competitors (Morgan and et.al., 2019). That is why, firm can change its marketing-mix
accordingly. This also improve the place and process of the product as per opposition
company do.
 Guide for improving business- From all the p's physical evidence is an important
component of marketing-mix, for example; in interior designer or places like restaurant
are directly improve its physical structure of the firm as per the feedback of the customer.
Brief of 4P's of marketing-mix
There are basically 7P's of marketing in which 4P's are main such as product, price,
place, promotion, physical evidence, process and people. In which product related to all types of
good and services that can be offered by company, price related to what can be consumer paid
for a particular product, another one is place the location of marketed product and lastly,
promotion refers to all the activities related to advertising (Vinerean, 2017). The key element that
evolved in marketing-mix are related to all types of goods and services, they both are inter-
related to each other. All the 4p's are inhibited by all the external and internal factors which are
involved in business environment. Basically, this element is used by organizations to know about
the key factors of its business, that included with customers wants from organization, also helps
to give information for that product will be meet those needs or wants of the consumer.

Moreover, how the product or services introduce in the particular market against its competition
and further strategies that can be followed by the company for interacting with its consumer.
Introduction of products
Product refers to any tangible and intangible substance or article that can be
manufactured for sale. For example, football is a tangible product on the other side intangible
goods are related to insurance policy etc. In terms of business, company manufactured the
product as per the customer need and wants. For any marketers it is necessary to understand the
product life-cycle with the every stage of it. There are many factors that may affect the product
in terms of customer feedback, price, advertisement etc. There are various types of product that
included with niche, complimentary, substitute, unsought,etc.
Application of 4 P's of marketing for M&S
Product- In regard to Mark and Spencer, it is one of the popular brand of UK. It offers
various types of products that provides services to different age groups (Thabit and Raewf,
2018). Such as beauty, women, lingerie, men, furniture, kids, flowers, food, gifts, wine etc. Apart
from these it also provide special products that is related to Christmas and other occasions. There
is huge demand of that type of products in UK in order to sent gifts to their friends and family.
They give products to women's regarding their needs relating to clothes. They also provide
services of food and wine in different sectors that trades lunch and many other things. Through
their product enhancement strategy of marketing builds distinctive types of product services that
offers to people and satisfied their needs and requirements. As, well increase their productivity in
business through distinctive products that given according to customers needs. Due to which it
considers as top retailer brand as they provide services related to clothing, food, wine in which
there are various types of services given to all peoples. Also, sells gifts items that people
purchase to gift others on special occasion. By this, they earn profitability and rising their
efficiency on day to day basis.
Price- The price of the products of Mark & Spencers are related to premium supermarket
that contain medium to high range prices (Suthiprapa and Tuamsuk, 2021). It follows
competitive pricing strategy for marketing-mix, M&S has their own brands for men, women and
kids. They also charge different prices to its customer as per the demographic sector, so many
customers are recently criticized for it. The home delivery partner of M&S is Ocado that charge
much higher for the product for delivering at home. They also followed dynamic pricing strategy

according to the seasonal time by offering good discounts to regular customers and also provide
them coupons for coming next time for shopping. Nowadays the competition rises day by day so
the price set by company is high as per the competition prices, Tesco and Walmart are the
biggest competition of the cited firm. For sold out old stock it out the stock as sale at the lesser
MRP as compared to new stock price. The revenue generated by M&S are 116.3 million pounds
with the net income of 10,343 million pounds in the year 2018 financial year, the operating
income for 680.7 million pound. From the stated data it has been clear that quoted firm are using
great pricing strategy so that it generates high revenues as compared to others.
Place- There are more than 1650 stores in 69 international market across the world, over
80,000 people are working in the stores for helping customer in shopping. M&S has spread it
business all over the world such as Qatar, Spain, Ireland, Morocco, Egypt, Canada, Egypt,
Austria, India, Belgium and china. Headquarter of cited firm in Westminster, London, also
established the overseas office in Italy, Sri Lanka, Indonesia, turkey, Thailand, Malaysia, turkey,
Hong Kong, china, India and Bangladesh. There are more than 1000 stores in UK and also get
best experiences from the customer (Salmon and Tordjman, 2020). Moreover, since 2001 it has
exceeded its business in India and now over 50 stores in India for selling the products or services
in order to get more profit. It prefers to choose sell the products directly to the outlets that results
more visibility of brand and customer. All the stores are soothing ambience with attractive
interior that are more customer. Further, it has started its online shopping stores in 1999 with the
facility of home delivery. Promotion- Mark and Spencers spent a lot of money in advertising
and promoting the product and services regularly by follows full-on policies of marketing. For
promoting the product firm chosen the campaigns for displayed by digital, print and visual
medium. Also, given the ads in newspaper, television, radio, hoardings and billboards etc. so that
more and more people can see the advertisement that can be increased the brand loyalty. They
also promote the product by celebrity endorsement like, Antonia Banderas, John Sergeant and
Myleene Klass. Its online business is generated more traffic on the websites. Along with this
firm like to offer the discount and offer coupons to their regular customers.
CONCLUSION
It has been concluded that marketing is essential part of the business in order to promote
and advertise the product and services. Marketing-mix is combination of all the factors that can
be influence the company in terms of consumer willingness for purchasing the product.

Moreover, explained the 4P's of marketing-mix for knowing about the want of a consumer with
the example of Mark and Spencer. Further analysis the customer segmentation and its advertising
strategies for promoting the business. Also, stated that M&S has great customer base for offline
outlets as well as online stores with the pricing strategy of competitive market in order to gain
more profit.

REFERENCES
Books and Journals
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European Business Review. 8(2).
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agenda. International Journal of Consumer Studies. 45(5). pp.964-984.
Morgan, N. A. and et.al., 2019. Research in marketing strategy. Journal of the Academy of
Marketing Science. 47(1). pp.4-29.
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Journal of Marketing. 5(2).