Marketing Plan for Mark and Spencers Men's Shoes Category
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This marketing plan focuses on the men's shoes category of Mark and Spencers, exploring the competitive environment, conducting SWOT and PESTLE analysis, examining the marketing mix, and providing recommendations for enhancing brand reputation and image.
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MARKETING PLAN
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TABLE OF CONTENTS TABLE OF CONTENTS.................................................................................................................2 INTRODUCTION...........................................................................................................................3 MAIN BODY...................................................................................................................................3 1.Giving brief description of the Mark and Spencers men category shoes.................................3 2.Exploring the competitive organizational environment with relevant model..........................4 SWOT analysis..................................................................................................................4 PESTLE analysis...............................................................................................................6 3.Examining the marketing-mix.................................................................................................7 Recommendation for improving strategies........................................................................8 4. Evaluating for enhance the brand reputation and brand image...............................................9 Analysing the impact of positing the brand.......................................................................9 CONCLUSION..............................................................................................................................10 REFERENCES..............................................................................................................................11
INTRODUCTION Marketing plan refers to the document which are layout marketing efforts that are made by the company for an upcoming period or usually for the year. This is also outlined the marketing strategy, advertisement activity and promotional activities for particular period of time (Opresnik, 2018). The report is based on Mark and Spencers which is very well-known organization of UK which offers many products in order to expand the product line. It covers the area of worldwide for selling all kind of products which are related to the different categories such as clothing, food and beverages, electronics, shoes etc. The report will explain about the current performance of men shoes are not working properly, so it needs to change the marketing plan in order to sell the product effectively. Moreover, explaining the Competitive analysis with Tesco with the relevant framework of SWOT and PESTLE analysis. Further, examining the marketing mix of the product by providing recommendation for it. Lastly, evaluating the branding and reputation of the company's product in context to positing the brand. MAIN BODY 1.Giving brief description of the Mark and Spencers men category shoes M&S Shoes was founded in Leeds, West Yorkshire, England in 1884. There are 1,020 stores in 2010. All the product of M & S are sold at the stores because there are large number of stores are there in UK as well as around the world. Also, they were using the slogan which is related to the It is not compromise with the quality. It means they offers best quality, service and value product, also the innovation is remained proposition. In context to its presence there are formidable business which are trade in more than 30 countries with 300 stores in UK.M&S brings for a wide range of men’s footwear, ranging from casuals to formals so you keep your best foot forward, whatever the occasion (Sumarwan, 2019).The leather is so soft and the shoes are very comfortable to wear. Mark and spencer are like, walk all day and they did not hurt and they were like wearing a pair of slippers.
2.Exploring the competitive organizational environment with relevant model SWOT analysisof Mark and spencer’s It is a popular clothing and accessoriesbrandthat has headquartered in London. There are various number of products are presence in a large number of categories which are related to the casual wear, hosiery, party wear, footwear, eyewear etc. and it targets all the categories of , men, women and children. Moreover, the organisation is divided into two operation which are international and other one is UK. There are 300 stores are full line stores in the country and 220 are owned by others in which 320 are food stores that are very popular in UK. This retail chain is firstly introduced by Michael Marks and Thomas Leeds in the year 1884. It generates more than 10.87-billion-pound revenue in the year 2018. Strengths in the SWOT ANALYSIS in Mark and Spencer:- Organisation has benefit for the local market that promotes all the stores all over the world which are large in number and promotes home grown brand like, big tall, autograph, Collezionme, Blue harbour in the men’s segment and limited collection, classic, Per Una, etc. (Kuusela, E., 2019). There is example such as, service culture and effective sales that are focus on the international market’s high-quality stuff, good corporate culture, strong service levels and low staff turnover. The vital value of the organisation is related to affordability and quality of the services which are under the attacked by competitors. The other retailers are burton and next which are provides better fashionable and trendy design with the good value products. This is helping the organisation to increase the product sales. The main focused of label business, clothing & home, food, bank etc. in UK as well as internationally. The main objective is related to the transformation programme that is restore the brand and the business, it is sustainable and delivers the long-term value with the profitable growth with the investors and colleagues related to wider communities. (Willan, M., 2021). Other strengths of the organisation are such as follows: oVariety of products oFamous Designer’s Brand
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oRecognized Brand oWell Experienced oMultinational Company Weakness of Mark and Spencer: - oThis is the biggest weakness of the M&S is suffered from the poor scalability of the supply chain. It tries for offering the products at the global level to the merchandise and online store where the supply chain is delivering all the location globally. oThere is such example of organisation such as inflexible staff structure, high staff turnover, expertise, limited staff skills, mixed quality staff with no consideration of the internal marketing. Also, service culture and no real sales, poor service and poor corporate culture. oThese weaknesses are internal for the company that are controlled ands can be changed according to the situation. It also included intellectual property and patent. Its does not provide any issues and solution or any alternative. But it offers the ideas which in which organisation will choose accordingly.(Nandonde, F.A., 2019). Some of the other weaknesses of the Marks & Spencer are as follows:- Declining Sales High Cost due to Manual Processes High Competition Perception of Public Opportunities for M&S oM&S has the opportunity for growing its business in the remote areas where people are not able to get the product or goods or not available if the availability of goods are reliable may charges higher prices. oLike other organization cited firm need to introduce points that will allow customers self-checkout to consume goods in any particular point of time. Moreover, it helps in source of increasing sales. oM&S need to merge with other brands so that it can expands its business on large scale in future and avail various growth opportunities. Threats for M&S
The major threat is related to new Brexit reforms which may charges higher price of the good due to shift the customer to other competitors in market(Bismark and Eric, 2018). The other threat which is related to the intense competition related to grocery and retail sector but in the men’s shoes the biggest threat is related to competition which offers product at low price. That is why it decreases the revenue in long run. PESTLE analysisof M&S Political:This is the factor which is totally related to the instability of the country and it helps for generating the proper opportunities and growth that are important for organization for better understanding of the political stability and it helps to provide better option for the growth of M&S. It also increases the tax rate thar are affecting the performance of an organization and gives the ideas. It needs to identifying all the offer product related to the low are for increasing the performance of the shoes department. Economic:Itdealswiththefactorswhicharerelatedtoinflationanditaffectthe organization’s performance. Due to pandemic, there are already company bear heavy loss and the brand image of the organization is affect in adverse manner. The financial performance of the company is affected and it is not able to stand remain in the competition. Which are affected the generated results. Also, most of the people re not spent money on the clothing and shoes while pandemic because is not most essential product. Social:There are different perception of people and society that are may affect in negative manner. Through, men changed their thought, so M&S should also adopt the same and started promote for meet the demand of the customers. So, it helps to increasing in the overall performance of the shoes and that are remains in the competition as well. Further, it is the important factors related to the retail product which is different from another country and it is the culture issue where people have different choices. There are some factors that are related to level of education consumers and their lifestyle (Sarker and Al Saeed, 2020). Technological:The majority of the organization are uses advance digital technology in to improve the marketing strategy as well as it also help to increases the productivity of the products. Further, in retail organization there may be rapid change in the shoes so it paid more money to spent. Similarly, the cited firm need to offer online services that helps to
create a positive impact and it also affected the range of people towards it. So, it helps to generate effective results for a company as well. Environment:It has been seen that all the products which are help in manufactured the finished goods harm theenvironment but cited firm has the certified achievement in order to save the environment by using proper resources.It also affected the environment so it has necessary to adopt the technologies which are not harm the resources. Global environment issues such as deforestation, afforestation and ozone depletion are seen that harm the animals (TADESSE, 2019). Legal:All this factor deals with laws and regulations and while operating the business at different location, there is a need to follow with all the laws for its smooth functioning. There are different laws that are adopted in UK in order to regulate the retail with rules so that no one harm for it. Thus, if M&S wants to operating in different location, then there is a need to affected with effective laws and legislation like Equality Act, Unemployment Act etc. 3.Examining the marketing-mix PRODUCT –Mark and Spencer are very popular and well-known brand of UK for retail business it has covering wide variety of items considering all age group men, women and kid. Also, it offers product for women which includes jeans, blazer, linen etc in footwear section they are offering heels, sandals, loafers etc. For bag and accessories including jewelry, bags, sunglasses, etc. For men sections, M&S offering large variety of product including footwear, clothing, accessory. Also, the sale of footwear is not getting good response in UK as well as online store that is why organization decided to work on footwear section of men (Ofori, 2021). PRIZE –Mark and Spencer follow competitive pricing strategy for marketing mix for the product portfolio. It has on brand house or clothing men, woman and kids. Generally, it has offered medium to higher category product with premium quality also again strategy also customer have more options for choosing the product with increase competition. Moreover, it faces competition act online stores and with retailing stores such as Tesco, Xara, Sainsbury etc. The pricing strategy for men’s footwear are not working well that is why organization decided to choose other strategy for on the basis of various designs that can be attract consumer. PROMOTION –The promotion strategy choosing by Mark and Spencer are related to advertisement campaign and digital marketing for in store strategy also it emphasizes for providing common message to on medium communication such a T.V, Print Media, Mobile and
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Social Media campaign. Organization has it’s on website in order to promoting the brand, clothes of men, woman and kids. There is favorable customer that are finding blogs and fashion kids on their website (MELESE, 2018). The digital marketing and social sites are working well in order to promotive the product the using online adds and attract customer by offering discount of product. PLACED-There are many stores in UK and more than 700 outlets are around the world which including 250 convenience stores. Its sales product at online stores which has given good response as compare to offline stores. M&S delivers the food items with the help of Ocado services. Also, organization has the powerful network related to the suppliers with more than 600 in numbers. In addition to this, it has a good structure of placements with well structure of channels of distribution. The organization operated the stores which are significantly got the customer insight that enables for identifying the customer changing behaviour and market trends. Recommendation for improving strategies Establishingacrossdepartmentworkflow-Itisveryimportanttoimprovingthe marketing operation strategy which are need to establishing the workflow environment for rest of the organisations. Aligning all the consumer insight- According to the consumer insight this is very import to attract them by offer them discount and also providing the reward services so that it can increases the sales of men’s footwear. Implementing new methodology for discovering the campaign work- According to existing strategy the sales of the footwear are working wells so company should discover the new methodology in order to attract the customer (Mamun, 2020). Hire a strategic analyst- Organisation should hire strategic analyst in order to focused on developed return on investments for measuring the marketing. Also, it helps to tracking at the places where marketing activities are aligned. 4. Evaluating for enhance the brand reputation and brand image Research for branding is focused on the consumer goods market also it has been seen that in recent all the attention for business market is given to brand image only. Brand images of
Mark and Spencers are already good in the market and it also influences the consumer in order to increase the sales. Reputation of the company are depended on the perception of consumer also it can be different for each person in order to change according to customer loyalty and service quality. By evaluating such strategies which are needed for the enhancing the brand reputation of the organizational are as follows- Strong online presence- This is one of the most important factors that can enhance the brand image of the organization because SEO (search engine optimization) has a great presence that can help to improve the ranking of the organization also, website of the company shows good research with the help of searching keywords. Customer can search on the basis of keywords such as clothing, premium quality, men shoe etc. Respond to comment and reviews- There are so many people who are like give their opinion about the brand after purchasing or getting information about the brand. For chosen organization there are large number of people who are like share their opinion in order to provide best experience. It is important to respond the reviews of the customer because when they get respond they feel engaged with the organization and it creates the positive vibes (Ozanne, 2021). Act on feedback- Customer feedback are given the information about what they feel about the product which have been using by them. There are so many people who are likely to give positive or negative feedback but organization should have taken it in the positive way. It increases the brand reputation of the company in order to increase the customer. Increases customer loyalty-Satisfied customer are help to generate the momentum or excitement in order to defend the brand reputation of the company. Brand loyalty gives the best customer experience of the employee culture. By using social media and share the post and stories with Instagram and Facebook are enhancing the brand reputation of the company. Analysing the impact of positing the brand The impact of brand positioning on the company is need to differentiate itself from the other competitors. This helps to increasing the brand value and awareness, justify the pricing strategy and communicating with the value of organization, these all the factors are impacting the bottom line of the company. There are some steps which are help to identify the brand's position as follows:
By analysing the current brand position of the company by targeting the target audience which men and increase the sales of men's shoes. Identifying the competitors of the organization with the help of customer feedback, social media and market research, for M&S competitors are Tesco, which can attract more customer by offering discount and rewards. Position of the competitors are help to identify the brand image of the company's product. To set the strategies which can be enhanced the position of the company and make the company unique. CONCLUSION It has been concluded that Marketing plan is a document that identified all the factors which are help to improve the position of the company. The report is discussed on the basis of product line of mark & Spencers which needs to improve the product line for men category shoes.The study covered about the brief discussion of the product and explored about the internal and external factors of the organization by using relevant model of SWOT and PESTLE analysis. Also, identified the marketing mix of the chosen product line by applying 4P's framework. Moreover, suggested the recommendation that can improve the marketing-mix of the organization. Further, evaluated the strategies that can improve the brand image of the company as well as also analysed the positioning of the brand that can be influenced the positioning of the organisation.
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