Marketing Strategy of Marks & Spencer: STP Analysis, Marketing Mix, and Relationship Marketing

Marketing Plan

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
STP analysis of Marks & Spencer..............................................................................................3
Marketing mix of Marks & Spencer...........................................................................................5
Assessment of relationship marketing strategy used by Marks and Spencer..............................7
Recommendations on improvement in marketing strategy.........................................................8
CONCLUSION ...............................................................................................................................9
REFERENCES .............................................................................................................................11

INTRODUCTION
Marketing strategy is defined as a long term approach and can be used by businesses
which is associated with understanding needs and demands of customers. This approach is
majorly used in order to attain competitive edge within marketplace and to prepare an overall
game plan which can be followed throughout the procedure of marketing (Armstrong and et. al.,
2018). Marketing strategy is related with creation of value proposition in which various
initiatives are rolled out which are helping the organisation in amplifying their brand image in
the market. This report is prepared order to understand concepts of marketing strategy in the
background of Marks & Spencer. Marks & Spencer is a British multinational retailer
headquartered in London, UK. The company is dealing in fashionable clothing, home décor and
food products. Marks & Spencer is having a vast market size in which they are using prominent
marketing strategy for retaining their customers. This report is consisting of STP analysis in the
context of Marks & Spencer and marketing mix. In the last part of report various suggestions has
been given by which marketing strategy can be improved.
MAIN BODY
STP analysis of Marks & Spencer
STP analysis is acronym of segmentation, targetting and positioning, this is a strategic
approach of modern marketing in which various models and practices are applied in order to
understand inclination of customers and to prioritise proposition by which relevant messages can
be delivered to customers. This is an audience based approach in which tactical decision are
being taken by businesses in order to define their target audience and ways in which the same
can be retained. In the context of Marks & Spencer STP analysis is used by them in order to deal
with behaviour of customer and to cop up with external marketing factors.
In UK there are huge retailer existed which are rivals for Marks & Spencer such as
ZARA, H&M and many more. These are external factors for Marks & Spencer and the company
is managing this scenario in a very systematic way so as to build prominent public relation.
Marks & Spencer is trying to reinvent their brand in such a manner that long term growth can be
inhaled by them and manufacturing capacity can be increased (Morris, Beresford and Hirst,
2018). For this concern STP analysis is being performed by them in order to stay adhered to their

objectives and obtain competitive advantage. In this respect, STP analysis for Marks & Spencer
is shown as under:
Segmentation
Segmentation is defined as the process in which overall market is being divided into
smaller parts on the basis of heterogeneous characteristic (Bae and Zamrudi, 201)(. This analysis
is helpful for a business to decide their focus area in which they can pitch their potential
customers and understand their needs and demands in optimal manner and the same can be
fulfilled by modifying business offerings. Segmentation is of four types such as Demographic,
geographic, psycho-graphic and behavioural.
Demographic segmentation: Under this whole population is being divided on the basis
of age, gender, income, eduction and other factors. In the context of Marks & Spencer the
company is targetting over age element in order to capture higher customers. On the other hand
income element is also undertaken by Marks & Spencer as pricing strategy used by Marks &
Spencer is premium so accordingly segmentation is performed by them.
Geographic segmentation: This segmentation is based on country, region, city or any
other geographic area. When a business is willing to expand their business then this
segmentation is undertaken by them in order to select their preferred market and unleash the
same. In context of Marks & Spencer the company is a multinational organisation which is
existed in each and every corner of the world so in this aspect Marks & Spencer is trying to
segment their market on the basis of city.
Psycho-graphic segmentation: This type of segmentation is based on values and
lifestyle. As Marks & Spencer is a premium brand which is wholly dependent on lifestyle of
people so in this case the company is focused on encouraging values and lifestyle in such a way
that high inclination of customer can be seen over their brand which enable them to make
positive decision over buying (Perreault, 2018).
Behavioural segmentation: This is based on behavioural traits of population such as
taste, quality, fashion and many other factors. In this context Marks & Spencer is focused on
quality products and higher durability in their products. On the other hand market identity of
Marks & Spencer is known as highly fashionable brand which enable them to attain prominence
over varied segment of overall market.
Targetting