Marketing Essentials Report

This report analyzes the marketing essentials of Marks and Spencer, a British multinational retailer, focusing on its marketing mix and marketing plan. It compares the company's strategies to its competitor, John Lewis, and examines the company's plans for expanding into Romania. The report utilizes frameworks like PESTLE and SWOT analysis to assess the internal and external factors influencing the company's success.

Marketing
Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
PART A...........................................................................................................................................1
MARKETING MIX....................................................................................................................1
PART B............................................................................................................................................6
MARKETING PLAN.................................................................................................................6
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
Marketing is the department which helps to promote sales and profits of a company.
Marketing personnel establishes contacts with customers and work according to their demand.
They also provide knowledge related to modifications or arrival of new product in market. This
department is important as it provides knowledge related to product and services which are
demanded by customers (Wirtz, 2012). There are various techniques such as feedback,
promotional events, hoarding, discount offers, etc. which has to be considered to satisfy demand
of customers. There is use of techniques which are specific for growth of business. It helps to
produce product which are effective and are able to satisfy customer requirements. Marketing
has relations with various departments of organization, this helps to know what can be done
through which activities are performed in desired manner. This report is based on Marks and
Spencer which is one of the best brand in clothing and accessories sector. This association have
headquarters in London, UK and established by Michael Marks and Thomas Spencer. In this
report there is discussion about marketing mix and marketing plan.
PART A
MARKETING MIX
Marketing forms the cornerstone in success of any business organization as it enables
firm to communicate benefits of its products and services to its customers. Marketing mix for a
company could be defined as the perfect amalgamation of its 7P's comprising product, price,
place, promotion, people, process and physical evidence that a firms strives to achieve in order to
provide right type of product, at correct price, at exact place where it is been required by using
accurate type of promotional strategies (Baker and et. al., 2016). It forms one of the most
appropriate tool that every firm adopts for capturing attention of its target audience by
communicating them information about its new product, its distinctive features, unique services,
efficient process and ensuring that they are being persuaded to buy offerings of this enterprise.
All this information helps customers to differentiate a particular brand and its products/services
from that of its other substitute available in market.
Mark and Spencer is one of the top British multinational retail brand that deals in lifestyle
and retail industry comprising clothing, home appliances, furniture, beauty, food and other
luxury products. As company have diversified product portfolio which they deliver in market.
Managers of Marks and Spencer gives immense attention to its marketing mix in order to cater
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needs of its target audience spread all around globe. It assists M&S to maintain and enhance its
market share and brand position and to take an edge over its leading competitors like John
Lewis. Mentioned below is the comparative study of marketing mix of M&S and one of its rival
brand John Lewis (Desai, 2013).
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Basis Mark & Spencer John Lewis
Product M&S is one of leading British retail
chain that offers a wide range of
lifestyle and retail products which
cater needs of its large target market
with customers belonging to all age
group. It has a diversified product
line that consist of clothing,
accessories, furniture, home
appliances, cosmetics, footwear,
furnitures, food, flowers, wines and
other luxury products. M&S mainly
deals in its in house brands rather
than other multinational brands,
John Lewis is top leading premium retail
store brand that deals in variety of
products like home and design,
technology, electricals, fashion, beauty ,
baby and child care products, gifts and
celebrations, home furnishing etc. Apart
from this company also provides an
unparallel range of services for [personal
styling , nursery advices , technical
support and appliance installation to its
customers. They also provides facility of
on site weaving to create exclusive
customised fabric design as per its
customer requirement and choice.
Price M&S follows a competitive pricing
strategy for its product portfolio. As
company has its own in house brand
it keeps price of it at medium to high
level because of products premium
quality. Besides this, firm also
follows dynamic pricing strategy
during seasonal time when to induce
purchase from its potential customers
it offers various discounts. It also
organizes various stock clearance
sales where customer cam provide
branded products at lower price .
John Lewis make use of competitive
pricing strategy while deciding price of its
products. It has its price monitoring team
which keeps on monitoring price of its
competing brands online and offline
which helps firm to provide competitive
products with high quality to its
customers.
Place M&S being a world renowned brand John Lewis make use of multi-channel

has diversified its operations in more
than 50 nations where it maintains
more than 1000 stores. In UK firm
has around 850 stores. In order to
fulfil needs of its growing customer
base M&S aggressively focus on
building a efficient distribution
network across varied locations in
where company runs its operations.
It has also launched it website which
make it easy for its consumers to
make purchase sitting at their place
and get product delivered at their
door steps.
strategy in which to cater needs of its
diversified target audience it uses
different distribution channels. It has
around 50 stores in England, Scotland ans
Wales in UK. Besides this, company has
also aggressively working its way in E-
commerce to tap its target market through
YOU Tube, Facebook and Twitter.
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Promotion M&S uses a perfect combination of
advertising its campaign with digital
marketing. It makes use of all
appropriate media of communication
comprising electronic media, like TV
ads, mobile ads , print media , online
media such as social media. They
extensively uses its website for
promoting its products and posts
fashion tips and blogs on it to attract
its customers. Moreover company
also has its special loyalty program
based on point system which a
customers earns every time he makes
a purchase. Managers also promotes
its seasonal sales by providing heavy
discounts on branded products
John Lewis make use innovative
promotional techniques where it
extensively promotes its products through
special ad campaigns during festivals and
special occasions. Besides this company
make use of online media like you tube,
facebook , twitter etc. to promote it offers,
new products and discount schemes. It
also have various loyalty program
running which give benefits like free
purchase after earning certain points etc.
to induce its customer to but products. It
also sponsors various international vents
like London Olympics which provides
company an international platform to
promote its brand.
People M&S has a proficient team of more
than 83000 employees that manages
its operations in more than 50 nations
. To retain its talented and highly
competitive staff and to attract new
potential talent M&S uses
competitive payment policy . It
organizes various training and
development programs for enhancing
capabilities of its staff and provide
them with flexible working
conditions to its staff. Moreover
company provides various employees
benefit schemes like pension benefits,
John Lewis has a team of more than
38000 employees that is well trained in
assisting its costumers. It has a devoted
team which assists customers by handling
their queries, clearing their doubts by
providing them viable solutions to
enhance their shopping experience.
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health and life insurance, share buy
etc. All these strategies reap positive
results for firm as it is able to
maintain a loyal, professional and job
satisfied workforce. M&S is also a
big promoter of women employee
and implements and keep on
formulating various female oriented
policies to encourage and support its
staff.
Process M&S has a very systematic store and
process layout. Company also
provides its customers with an option
of online purchase wherein they can
order and earn points under various
M&S loyalty programs.
John Lewis manges several business
processes that involves delivery of goods
and services from manufacturing plant to
its warehouse and from its retail stores to
its final customers. It has a efficient
supply chain that helps in smooth running
of its operations. Company also maintain
its website portals where customer can
browse various products and shop online.
Physical
evidence
M&S manages more than 1000 stores
world wide in over 50 nations. It
stores are divided into various floors
having separate sections for its
diversified product line comprising
clothing, flowers , home accessories
etc. and sub sections for female and
male products.
John Lewis is distinctive by its unique
and customer friendly store design, its
ambience which make its customers feel
comfortable giving them valuable
shopping experience. Company has more
than 50 stores in UK each providing wide
variety of products, various loyalty cards
and schemes for its consumers, systematic
stores layouts etc. that add to its physical
presence. Friendly store helps to attract
customers and this helps to promote sales.
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They serve various home décor items,
furniture, gifts, etc. are part of physical
evidence and it helps to catch more and
more customers.
PART B
MARKETING PLAN
Marketing plan is a methodology which works to achieve targets in appropriate manner.
It is important to work according to marketing plan as it provides foot steps to work according to
set benchmarks. As Marks and Spencer is working in clothing sector so there is need of
innovation in product and service (Baker and et. al., 2016). This is important as it helps to
achieve targets on time. Planning is performed by top level management but at the same time it
must be delivered to subordinates so they have knowledge regarding reason for performing
specific activities. This plans to promote brand in market and satisfy customers. There are many
activities which has to be performed by workers so through this plan workers are war of their
roles and responsibilities. As working according to plan helps to get positive results and in case
of negative results area of flaws can be used.
Marks and Spenser is thinking to come with some innovation in their clothes. So they are
planning according to it. Managers of Marks and Spencer to open an outlet in Romania which is
a new place for dealing. This is effective for growth of business. But through marketing planning
there will use of factors which are compatible for performing operations. It is essential to know
about factors which affects business operations and measures are taken to reduce them.
Managers of Marks and Spencer is thinking to come with approaches which is effective for every
employees and customer satisfaction is possible (Desai, 2013).
Marketing plan has various components which helps to work in current environment and
positive results can be analysed with the help of which modifications can be made in operations.
Marketing plan has various components such as internal, external analysis, controlling,
planning,. Etc. these factors are discussed as under-
Executive: As per this increasing demand, there is requirement of new outlet which is
working to open new outlet. This helps to know about changes which are happening in market.
In clothing sectors there is change in trend very frequently, so this is effective for making
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changes in operations. Managers has to select approaches through which strength can be used
effectively and weaknesses has to be reduced. There is proper planning required when managers
are thinking to come with new outlet in Romania (Dibb and Simkin, 2013).
Company Overview: Marks and Spencer was established in 1884. It is a British
multinational retailer having headquarter in London. This company is listed in London Stock
Exchange. They serve society with clothing, home products and luxury food items. This
association operates in various countries of world. They have 84,939 employees. Founder of this
company was Sir Michael Marks and Thomas Spencer. £115.7 million is net income of Marks
and Spencer as in 2017.
Current Marketing Situation Analysis: Managers of Marks and Spencer has to work
according to demand and need of consumers so they can improve their brand image in industry.
As changes are taking place in market very frequently, so in this case there is need of policies
which are effective for significant for growth of business.
SMART objectives: SMART objectives is one of the best technique through which
manager can about relevance of working. There are various goals and objectives set by managers
of company. This helps to know what changes can be made which affects business operations.
SMART stands for Specific, Measurable, Achievable, Reliable, Time bound (Hsu, 2011).
Specific: As managers of Marks and Spencer is thinking to launch new outlet at
Romania, so this target is specific and achievable. This can be performed by managers through
proper planning, research and development.
Measurable: By opening new outlet there is increment in production, sales and profits of
enterprise. This helps to set some specific targets and it can be achieved with market analysis.
Achievable: Set targets must be achievable. If goals are not achievable then this affects
business operations (Jones and Rowley, 2011). It is important to analyse what can be done
through which changes are turned for growth of business.
Reliable: Reliability is one of the important component which works for making image of
Marks and Spencer in positive way. Opening new outlet is significant for growth of business.
Time bound: Managers are thinking to open new outlet after 6 months. This objective is
time specific and there is need of 6 months because of proper planning and analysis of market.
Internal analysis: As changes ate taking place in market, but it has impact on operations
of company too. But not only external factors affects business. There are many parties associated
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with achievement of targets, so in this case cooperation from them also required. Employees, top
level personnel, etc. So they also affects business operations whether in positive or negative way.
While managers are thinking to open new outlet in Romania employees views must be taken.
This helps to get positive result out of it (Karasar and Öztürk, 2014).
External analysis: External analysis can be understood with the help of PESTLE
analysis, so this affects business operations. These factors are not in control of managers but
policies must be framed so they can be altered.
Political- There is involvement of governmental parties in country they are working. As
managers are thinking to open outlet at Romania, so they have to analyse governmental policies
and frame policies accordingly. In case political party gets changed then there is requirement of
alteration in business operations.
Economical- Economic factors means finance related services. This is effective for
growth of business. Thee are many sources through which funds can be raised but best must be
selected.
Social- Marks and Spencer operates in various parts of country. It is important to work
according to need of customers of Romania which helps to provide satisfaction and improves
sales of country (Kennedy and Parsons, 2014).
Technological- There is requirement of machinery to manufacture clothes, billing,
tagging, etc. so this helps to perform business operations more easily and appropriately.
Technology up-gradation in Romania are taking place very frequently, so proper planning must
be there (Lane, 2016).
Legal- In legal factors laws related factors are considered. There are many laws which
has to be followed by managers of Marks and Spencer. This provides satisfaction and confidence
to employees at work place. Romania has strict rules and regulations so this has to be considered
by managers.
Environmental- There is change in environment of Romania, so this factor musty be
considered while working in society.
SWOT analysis: SWOT analysis helps to analysis internal factors of business. This helps
to frame policies which are effective for improving operations of company (Mihart, 2012).
Strengths
This brand is highly recognisable by
Weaknesses
They have less promotional events as
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customers. They serve varieties of products
which helps to satisfy demand of every
customer. They have around 900 stores in
different parts of world.
compared to competitors. They do not renovate
their stores as per current market.
They believe in manual work more, so cost
gets increased.
Opportunities
They can promote their brand in countries
which have growing economy.
They must revitalize their outlets. They can
promote their brand more through online
sources.
Threats
Government interference while working is one
of the biggest threat which affects business
operations.
Promotional events of competitive brand
affects business operations.
Objectives: Marks and Spencer is the company which has good name in market. This is
because they work according to need and demand of customers. As new outlet is opening at
Romania, so this objective is effective for business growth. This must be shard with workers so
they also perform actions accordingly (Mittal, 2014). There are various benchmarks which are
working to analyse market and take actions which are significant for growth of business. It is
important to alter strategies which are effective for cooping up with changes happening in
business environment. Policies which are farmed must be flexible so changes can be made easily
this helps to work according to customer demand.
Strategy: PORTER'S FIVE FORCES MODEL
There is discussion about some technique which are effective for making changes in
business operations. There is competition in field of clothing, so it is important to consider
marketing approaches (Mueller and et. al., 2015). In this technique there are five elements in this
technique-
Level of competition: There is much competition in the field of clothing, so it is important
to make changes in strategies which are significant for growth of business in Romania. Cost must
be low so it will be in reach of every person.
Threat of substitutes: Marks and Spencer if does not come with some new techniques
which are significant for satisfaction of customer. If consumer does not get satisfied then they
switch to other brand. This affects sales and profits of company.
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Threat of new entrance: In Romania raw material are easily available, so clothing sector
industry are setting there frequently. There is leniency in laws of Romania so business can be
operated significantly (Nguyen and Simkin, 2012).
Bargaining power of suppliers: There is use of few suppliers which serve raw material to
Marks and Spencer. So this makes supplier's position strong and there are possibilities of
increment in cost.
Bargaining power of buyer: As Marks and Spencer is thinking to start working at
Romania so the must serve product which is in demand. In case customers are regularly visiting
outlet then this provides power to buyer to bargain.
Segmentation, targeting and positioning (STP): STP is the technique which is used by
managers of Marks and Spencer to bifurcate consumers on different basis. This helps to make
use of resources which are significant for growth of business. This helps to satisfy demand of
customers and this is effective for promoting changes in business (Ogunmokun and Tang, 2012).
Segmentation- This is the first step in STP technique which works to divide customers
on different basis. This basis can be gender, income, size, etc. This helps to make changes in
working style and this is effective for serve customers as per their demand.
Targeting- Managers of Marks and Spencer are working to open new outlet at Romania.
They serve according to need of customers. In Romania there is more demand for corporate and
formal wear so manager can serve accordingly.
Positioning- There is use of some techniques which are effective for promoting their
brand in market. There are some events, advertisements, etc. Which are helpful to position brand
in industry (Papasolomou and Melanthiou, 2012).
Tactics & Action: There is requirement of numerous people to achieve set targets. As
there are many workers working. So actions are taken to achieve targets. Manager must
communicate to workers and tell them about actions to be taken. This helps to deliver some roles
and responsibilities to workers and they are aware to whom they are liable. While framing teams
it helps Manager to assign work according to skills and qualities of workers.
Budget: Budget is the factors which is benchmark for expending money in market. It is
important to know what has to be done through which cost gets reduced and profits improves.
Marketing manager has to contract with finance department which has to work according to it. In
marketing department there is use of various techniques through which they can communicate to
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workers about new opening of outlet. So activities are within set targets this helps to reduce cost
and increase profits (Pappas, 2017).
Control: This is the major step which has to be taken by managers of Marks and Spencer
when they are opening new outlet. There is use of some techniques through which activities are
performed in set targets. This helps to achieve targets ion time. When outcomes are not positive
then marketing manager will check area of flaws and corrective measures are taken.
CONCLUSION
Marketing is the sector which works to according to demand of customer. As these days
demand of customer is changing very frequently on different basis. So this affects business
operations. To avoid negative impact of this marketing persons have contact with customers, this
helps to avoid misuse of resources and wastage of time. There is discussion of Marks and
Spencer and John Lewis in marketing mix. This helps to know about competitors polices through
which they can satisfy customer and get edge over competitors (Swenson, Rhoads and Whitlark,
2014). Marketing plan helps to know about internal and external forces which have negative or
positive impact on business operations. In marketing mix there is discussion about 7 P's which is
effective for analysing changes happening in roles and responsibilities. This help to know what
can be done through which company can work in industry and resources can be utilized
optimally.
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