Marks & Spencer Marketing Strategy
Added on 2021-02-20
11 Pages2755 Words161 Views
MARKETING PLAN
EXECUTIVE SUMMARYThe present report is based on Marks and Spencer which is coming up with new producti.e. Leather bag at the global level. For this pestle analysis will be done for determining factorscreating impact on its business operations. Also, STP analysis will be disclosed. The marketingprogram and competitive analysis will help to know the competency capabilities of company inthe market. SWOT analysis has been performed for identifying the internal strengths andweaknesses and external opportunities and threats.
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................2MAIN BODY...................................................................................................................................4PESTLE ANALYSIS..................................................................................................................4Strategy & Segmentation, Targeting and Positioning.................................................................5REFERENCES................................................................................................................................6
MAIN BODYMission: To become market leader is the mission of Marks and Spencer. Vision: To offer high quality products to consumers and ensure that consumers get value formoneyMarketing objectivesThe objective of this marketing plan of M&S is to raise sales of company by 30% till theend of 2019. Another objective of business unit is to raise number of consumers by 20% beforecompletion of this year. Marketing mixThis is the strategic tool that helps the firm in promoting the brand and attracting numberof buyers towards the organisation.Products: In order to meet the marketing objective M&S will serve consumers the bestquality goods and services. Firm will ensure offering products that have required qualitystandards. Price: M&S will take support of penetration pricing strategy, in this firm will offer itsgoods at affordable rates. If company is selling items at lower rates, then it would helpbusiness unit in gaining attention of mass audience. This would be best strategy becauseby this firm will be able to gain competitive advantage.Promotion: This is another most important element of marketing mix. M&S will usesocial media Facebook and Twitter to promote this product. In the recent time most of thepeople use social networking sites hence this strategy will be beneficial in gainingattention in the new market. This is the modern approach which would give best result toorganisation. In addition, M&S will also promote the brand by involving celebritieswhich will gain attention of buyers. Place: Marks and Spencer is operating in the global market, it will use direct distributionchannel in order to place the order to mass audience. This strategy will give the bestresult to firm , as cost of direct distribution is manageable and firm can get the advantageof reaching to mass audience.Physical evidence: M&S will use attracting logos and its infrastructure in the newlocation will be amazing. This tactic will give the best result to business unit and will
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