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Marketing Planning and Management Assignment - Marks and Spencer

   

Added on  2020-10-22

16 Pages5468 Words322 Views
Marketing planning andManagement

Table of ContentsINTRODUCTION...........................................................................................................................1STRATEGIC DIRECTION.............................................................................................................1Source 1: Business model and strategy.......................................................................................1Source 2: The importance of capabilities for strategic direction and performance....................2Source 3: Marketing strategy help to win competition...............................................................2Source 4: Customer driven marketing strategy: creating value for target customers.................2PRODUCT, SERVICES AND BRANDING..................................................................................4Source 1: Building value based branding strategy......................................................................4Source 2: Winning in service market series ...............................................................................5Source 3: Build a brand identity in competitive market.............................................................5Source 4: Build customer value..................................................................................................5PRICING AND COSTING..............................................................................................................7Source 1: Study on online price differentiation..........................................................................7Source 2: Different pricing strategy for global market...............................................................7Source 3: To evaluate the prices.................................................................................................7Source 4: Price dynamics with customer markets......................................................................7MARKETING COMMUNICATIONS...........................................................................................9Source 1: Marketing communication: brands, experience and participation .............................9Source 2: digital marketing communication...............................................................................9Source 3: Role of digital channel in marketing communication..............................................10Source 4: Role of integrated communication in business process............................................10MARKETING, CHANNELS, SUPPLY CHAIN AND LOGISTICS..........................................11Source 1: Distribution strategy In marketing............................................................................11Source 2: Retail supply chain design under operational and disruption risk............................12Source 3: Supply chain management in marketing...................................................................12Source 4: theoretical framework for better supply chain performance.....................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14

INTRODUCTIONMarketing is the process in which the company promote their products in market, that iswhy every company should have proper planning strategies. The report main aim is to describethe marketing planning and its management in the working area. The chosen firm for this reportis Marks and Spencer which is one of the leading brand in UK and currently it is facingchallenges at e-commerce. The report describes the alternative strategic direction for the firm anddescribe the decision involved in product, branding, pricing, marketing communication andsupply chain, logistics. Reading list 1:Jamil, G. & Berwanger, S. G. (2019). Choosing a Business Model: Entrepreneurship, Strategyand Competition. InHandbook of Research on Business Models in Modern CompetitiveScenarios(pp. 1-20). IGI Global.Akter, Shahriar. & et.al., (2018) "How to improve firm performance using big data analyticscapability and business strategy alignment?."International Journal of ProductionEconomics182 (2016): 113-131.Birudavolu, S. & Nag, B. (2019). Winning the Competition. InBusiness Innovation and ICTStrategies(pp. 313-338). Palgrave Macmillan, Singapore.Hollebeek, L. D. & Macky, K. (2019). Digital Content Marketing's Role in Fostering ConsumerEngagement, Trust, and Value: Framework, Fundamental Propositions, andImplications.Journal of Interactive Marketing.45. 27-41.STRATEGIC DIRECTIONSource 1: Business model and strategyAbstract: This helps to describe sudden change in innovative business environmentcreates impact upon the effectiveness of a business model and this further assist that how Marksand Spencer will develop strategy to keep the business competitive in this modern era. Methodology: At the time of describing the idea, the author uses different case studiesand real life example. In the report, there is also an extensive list of secondary academic sourcesas well.Conclusion: In summary, by using Business model, Marks and Spencer will easilycapture the value through providing value proposition for their customers. Further, thecomponents also develop the strategy that brings sustainability against their rivals. 1

Source 2: The importance of capabilities for strategic direction and performanceAbstract: This source helps to describe the relationship between capabilities for strategicdirection and organizational performance. Methodology: In this, both primary and secondary research is used in which primarydata in relation to hypothesis research i.e. information related to firm.Conclusion: The conclusive summary is that strategic direction has different implicationupon the financial performance, customer's needs and levels of innovation. Therefore, it isnecessary to determine strategic direction in effective manner to gain high competitiveadvantage.Source 3: Marketing strategy help to win competitionAbstract: The text provides overview of marketing strategy that is need to compete inthe global market. Through the strategy, Marks and Spencer will have used the technique toposition itself.Methodology: The author used secondary data source in order to describe the marketingstrategy.Conclusion: In summary, it concluded that strategic marketing is centre of overallbusiness process and company uses different variety of strategies such that promotion, physicaldistribution to make it brand superior in market.Source 4: Customer driven marketing strategy: creating value for target customersAbstract: This text help to describe the process of customer driven marketing strategysuch as segmentation, positioning and target customers to push for a maximum competitiveadvantages. Methodology: Author uses models and ideas effectively through secondary dataresources. Conclusion: In summary, for target customers and creates value, there are different typesof segmentation are used that gives an insight to the vast database of potential consumersbusinesses.Strategic direction in the context of M&SThe quoted firm is facing the issue of excelling at e-commerce and that is why it isessential that a strategic direction for a firm is correctly applied. Therefore, firstly, the companyshould research regarding their value proposition and then M&S has to re-evaluate their value2

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