Marketing Plan for Marks and Spencer

Marketing Plan

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
STP analysis of Marks and Spencer............................................................................................3
Marketing mix of Marks & Spencer...........................................................................................5
Recommendations on improvement in marketing strategy.........................................................8
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing means an action of promoting and selling products by the business enterprise
in order to attain their goals and target in an effective manner. The process by which the
companies use to promote their operations that outlines the different advertising strategies which
helps in reaching to their targets. It is very important for the company to prepare the marketing
plan so that it will be easy for the organisation to promote their products and services. This
report is discussed about the marketing plan of Marks and Spencer. M&S is the multi nation
retail brand of England. The headquarter is situated in London. It is the retail store which provide
the products such as cloths, food and beverages and home products. It was founded in 1884 by
Michael marks and Thomas Spencer. The company has more than 959 stores in United
Kingdom. The company has the vast market share in the competitive market with the help of
prominent marketing strategies for attracting their customers towards the brand (Atmaji, 2019).
This report has discussed about the STP planning and marketing mix. Lastly, the report has
discussed about the different suggestions which can be taken by the chosen organisation in order
to improve their marketing strategies.
MAIN BODY
STP analysis of Marks and Spencer
STP is the mode which helps the company to analysis their segment of market, target
their customer segment while adopting the different techniques of marketing campaigns tailored
to their preferences. It is the tool which helps the company to focus on breaking their customers
based on their small groups and develops the different strategies to reach to their targeted
audience (Butron Musaja, Mamani Gonzales and Mendoza Cutipa, 2017). The research says that
59% of customers are easily influenced by the personalisation influence and 44% of customers
says that this helps the customer to come back to the brand (The complete guide to STP
Marketing: Segmentation, Targeting and Positioning). It is the tool which helps the company to
plan their actions and decisions which helps them to target the customers and the ways to retain
them towards their product.
In UK there are several retailers existed in the market place which are the competitors of
the chosen organisation that is Marks and Spencer some of the competitors are like Asda, Tesco,
Next, Waitrose and partners, Macy's and many more are present in the market as the revivals.

These are the external factors which may affect the company and which was monitored by the
organised manner to build the satisfactory public relations with the company by their customers
(Cordero Escobar, Mamani and Iparraguirre Rodriguez, 2017). Marks and Spencer is developing
their brand in an manner so that they can attain the long run growth in future by satisfying their
customers in an effective manner. For this the company has develop some of the techniques
which are useful in order to maintain their production capacity and their supply capacity also.
For this, the report is discussing about the STP analysis to adhered their goals and also the
competitive advantages. The STP analysis with context to Marks and Spencer is being discussed
below:
Segmentation
Segmentation means a process where the whole market is divided into small groups on
the bases of their heterogeneous characteristic (Devia Rojas, Bazurto Guerra and Sánchez
Escobar, 2020). This is beneficial for the organisation to decide their focused area which will be
helpful in targeting their customers and satisfying their needs and wants in an effective manner.
This will be aided in enhancing their market growth in the competitive market. The company use
to adopt such methods which will be helpful in modifying their business. It is further divided into
four parts which are discussed below: Demographic segmentation: it is the segmentation which use to divide their customers
on the bases of their age, gender, income, qualification and other factors. Marks and
Spencer has used this tool in order to divide their customers on the bases of their income
so that they can just target the higher class of people towards their products and services.
They use pricing strategy as premium and according to0 which only they try to divide
their customers only which will be helpful for the organisation to direct attract them. Geographical Segmentation: it is the segmentation where division is based on country,
region, city and on the bases of other geographical areas. It is used when the company
wants to expand their business on the bases of their geographical area. With context to
Marks and Spencer, the company is already vaster their area with reference to
geographies. It is already a multi national brand which serves over the oceans. They use
city based divisions to expand their brand in other countries also. Psycho-graphic Segmentation: it is the type of segmentation which is based upon values
and lifestyle of the individuals who are targeted. With context to Marks and Spencer, it is