Marketing

Introduction
to
Marketing
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Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY ..................................................................................................................................3
Marketing Audit.....................................................................................................................3
Market Segmentation..............................................................................................................6
Market Research.....................................................................................................................7
Buyer Behaviour.....................................................................................................................9
Recommendations................................................................................................................10
CONCLUSION..............................................................................................................................10
REFRENCES.................................................................................................................................12
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INTRODUCTION
Marketing is considered as activities or practices which an organization conduct in order
to promote its buying or selling of goods and services. There are several factors which include in
marketing such as advertising, merchandising and delivering of products and services to
potential or targeted customers or business (Chaffey and Ellis-Chadwick, 2019). Organization
selected for this report is Marks and Spencer, it is a public limited firm conducting its business
operation in retail industry. It is founded by Michael Marks and Thomas Spencer in year 1884
and its head office is located at London, United Kingdom. They offer wide range of food, cloths
and home décor products at worldwide level. This report include different models for
understanding marketing audit, market segment and market research. Along with this, report also
describe model for evaluating buyer behaviour as well as it will also include recommendations
on the basis of evaluation.
MAIN BODY
Marketing Audit
Marketing audit is considered as comprehensive, analysis, systematic, evaluation and
interpretation of business marketing environment that include both internal as well as external.
The purpose of conducting marketing audit is to analyse areas, related to problems and
opportunities in order to develop plan of action for enhancing company's marketing performance.
There are major six components of marketing audit i.e. environment, system, strategy,
productivity, organisation and function (Chandon, Laurent and Valette-Florence, 2016). For
conducting marketing audit properly a firm can adopt different model, in respect of Marks and
Spencer they can conduct SWOT analysis and Porter five force model, which explanation is
given below:-
SWOT Analysis
By this Marks and Spencer able to conduct marketing audit of the internal business
environment of marketplace.
Strengths Weaknesses Clear brand image: Marks and Spencer
developed itself as a high end brand
 Customers satisfaction: Sometime
potential customers of Marks and
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which offer premium products to
targeted customers. This will help them
in developing clear branding that what
customers will get at store. Private labels: At the store of Marks
and Spencer respective company sell
premium brand such as Vero Moda,
Louis Vuitton, Versace. Moreover they
also sell their own private labels such
as Per Una, Autograph, Indigo
Collection ans so on. Innovation: From more than 150 years
Marks and Spencer has been in race
primarily as they offer innovative
products (SWOT analysis of Marks &
Spencer, 2019). At respective company
innovation is synonymous as creativity
and communication. Multichannel presence: The respective
company operate their business through
different models i.e. online stores,
franchising options and brick and
mortar. They have 300 full line stores,
220 owned and 310 franchises (food
store).
Spencer exhibit low satisfaction level.
That are related to return policy and
store experience. This will result in
decrease in brand loyalty as well as
increase in brand switch.
 Supply chain scalability: It is one of
the main weakness of Marks and
Spencer that related to scalability of
supply chain. This will impact on the
delivering services or products to
customers on time.
 Inability to penetrate in foreign
market: Respective company is
operating in United Kingdom, Europe
and United State. They also opened
stores at Middle east and Asia but they
get unsuccessful in these market.
Opportunities Threats Introduce new segment: Marks and
Spencer can come up with new
segment such as ethnic and traditional.
This is so because it show a lot of
 Competition: Marks and Spencer is
operating at multinational level due to
which they face huge competition at
marketplace. Such as ZARA, Gap,
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