Marketing Planning and Control: Assignment
Added on 2021-01-02
15 Pages4883 Words446 Views
Business DevelopmentLeadership Management
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Marketing planning andcontrol
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK...............................................................................................................................................11.Environmental analysis of Marks and Spencer...................................................................12.Marketing Objectives of Marks and Spencer......................................................................33.Strategy selection.................................................................................................................44 Market targeting and positioning ........................................................................................65. Assessment of 4P's ...........................................................................................................76. Implementation, control and evaluation.............................................................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONMarks and Spencer are a very well-known multinational British retailers. It hasspecialised range in clothing, home products and luxurious food products. It has about 979 storesin all over UK where 615 are those stores which sell only food products. They are the mosttrusted brand as were established in 1884. The following report depicts the marketing planningof M&S and also various strategies which were adopted to make the plan successful at a broaderscope. It contains the environmental analysis of the company covering all external and internalfactors, followed by describing their main objectives regarding the marketing of their productand services (Gilligan and Wilson, 2012). It also comprised of strategy selection of company onthe basis of several aspects that have lead them to choose particular among various kind ofstrategies. Market targeting and positioning is also being discussed for the better understandingof the company's aim. The assessment of product mix have been conducted to provideinformation with respect to it (Baker and Saran, 2016).TASK1.Environmental analysis of Marks and SpencerThe analysis of environment of the company includes two factors which are external andinternal aspects which affects the working of M&S equally. These are conducted on macro aswell as micro level to make ensure the proper working of them with respect to several factorswhich influences it. For analysing the external environment one performs the PESTLE analysisand for their internal environment many factors are analysed.The PESTLE analysis for Marks and Spencer is discussed below:PoliticalThis factor is related to the political circumstances of the nation. As these have a directimpact on the company itself. At the time of Iraq War there was unstable scenario which createdan adverse impact on the Marks and Spencer as it lead to slowing down of economy. With thechange in government there is a disturbance in the policies and rules of the area which do notallow effecting working of any organisation (Wrenn and Mansfield, 2014). EconomicalEconomic state of the country affects the stability of M&S at the time of succession of aneconomy every organisation flourish very well due to earning of great profitability in the market.1
Any new policy directly influence the financial aspects of the company as with an increase in theVAT there was a downfall seen in the sales of individual.SocialWith the evolution of time the mindset of every consumers changes which impact thechoices and taste of people at different areas. The factor of sensitivity in the case of pricingmatters a lot to every buyer (Armstrong and et.al, 2015). It has also lead to increase in thecompetition between various competitors as they have old fashioned products which are veryexpensive which has forced them to make appropriate strategies to sell their products in thissociety (Wilson, 2015).TechnologicalTechnological aspects plays an important role in promoting their products to variouscustomers. Also they should adopt various technologies which are advanced that can improvetheir features like online shopping and home delivery. Media can also be regarded as veryeffective for the better promotion via using several technological advanced strategies.EnvironmentalThe company is very much aware of the environmental aspects and adopting some ecofriendly techniques which has lead them to take a lead by their uniqueness as they sell productsby determining hoe to use and dispose them (Goss and et.al., 2013). Also they prefer to have lesspackaging and bags in an intention of saving the surroundings by minimising the use ofresources.LegalAs the standard of the product is very high they have to take concern of various legalissues and policies that might create problem for flourishing their businesses and has to takeaccount of several issues which can be related to consumers, safety of staff etc.Internal Analysis of Marks and Spencer is discussed below:Structure of OrganisationThe structure of company matters a lot as they depict the strength of their workingstructure which includes the flow of information from certain departments and the relation of themanagers of various functional unit with the retail director of the M&S and also how effectivelythey have managed various sections along with providing assistance to the customer (Bocken,2017).2
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