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Marketing Plan Assignment: Marks and Spencer

   

Added on  2021-01-03

14 Pages3933 Words49 Views
Marketing Plan Project

EXECUTIVE SUMMARYThis report has been prepared to analyse the marketing situations of Marks and Spencer.This report has provided a brief view about the development of strategies which contributestowards the growth and sustainability of the firm. It has been also discussed that that introductionof the new product in the company leads towards the increased sales of the company thusmaximises the profits of M&S. It has also mentioned various marketing mix elements thatmainly supports the overall growth and sustainability of the firm. Promotion of the new productdesigned in the industry and analysing various impacts of marketing that attracts large number ofcustomer towards the newly developed product named as smart jacker. In this project, M&S haveintroduced a new product that includes inbuilt heater facility within the clothes.

Table of ContentsINTRODUCTION...........................................................................................................................1Analysis of the Market.................................................................................................................1Business Preposition....................................................................................................................3Action Plan...................................................................................................................................5Evaluation....................................................................................................................................7CONCLUSION................................................................................................................................8REFERENCES .............................................................................................................................10

INTRODUCTIONA Marketing Plan is termed as a comprehensive document that derives the advertisingand marketing efforts of an organisation. Marketing Plan mainly contributes towards theachievement of specific marketing objectives within a stated time duration. The study is based onthe marketing strategy of Marks and Spenser who deals with the large variety of products such asfashion clothings, footwear, eatables and many more products. The report will help in describing the Marketing plan of the company when the managersare planning to launch a new product. This study will introduce the readers towards thedevelopment of a new product in this firm that is “ Smart Jacket”. This research will create acomplete understanding about comprehensive marketing plan which helps in providingtechniques that supports the company in maximising the sales as well as profits of the firm. Thedocument will clearly describe the Action Plan of the company and marketing mix elementswhich effects the growth and development of Organisation.Analysis of the MarketDescription of FirmMarks and Spenser is a major British Multinational company which has large number ofretail stores in most of the countries. M&S was initially founded in 1884 by Michael Marks andThomas Spencer. The company has begin its business by initially selling its branded goods likeKellogg's Corn Flakes in November 2008. Marks and Spencer then gradually increased its salesby producing more variety of products and goods and services of M&S becomes rapidly popularamong people of young age group. In 1998, company becomes the first British Retail to makethe pre tax profits of £1billion (Ahmed, 2016). In recent years Company have increased itsproduction and manufacturing capacity and started dealing with fashioned clothings and foodproducts. Currently, the company is planning to establish a new product within the organisation inorder to hold interests of the people towards M&S products. The main purpose to attempt aninnovational risk by introducing a new product in the organisation is to hold the interests of thepeople in the market. The company always try to bring innovative and new concept for thecustomers which helps in increased growth and sustainability of the firm. This organisation haveachieved a very good business position and increasing the number of outlets in the firm provesthe increasing profitability of the organisation in market.1

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