Marketing Planning and Control: Assignment

Marketing planning and
control

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK...............................................................................................................................................1
1.Environmental analysis of Marks and Spencer...................................................................1
2.Marketing Objectives of Marks and Spencer......................................................................3
3.Strategy selection.................................................................................................................4
4 Market targeting and positioning ........................................................................................6
5. Assessment of 4P's ...........................................................................................................7
6. Implementation, control and evaluation.............................................................................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Marks and Spencer are a very well-known multinational British retailers. It has
specialised range in clothing, home products and luxurious food products. It has about 979 stores
in all over UK where 615 are those stores which sell only food products. They are the most
trusted brand as were established in 1884. The following report depicts the marketing planning
of M&S and also various strategies which were adopted to make the plan successful at a broader
scope. It contains the environmental analysis of the company covering all external and internal
factors, followed by describing their main objectives regarding the marketing of their product
and services (Gilligan and Wilson, 2012). It also comprised of strategy selection of company on
the basis of several aspects that have lead them to choose particular among various kind of
strategies. Market targeting and positioning is also being discussed for the better understanding
of the company's aim. The assessment of product mix have been conducted to provide
information with respect to it (Baker and Saran, 2016).
TASK
1.Environmental analysis of Marks and Spencer
The analysis of environment of the company includes two factors which are external and
internal aspects which affects the working of M&S equally. These are conducted on macro as
well as micro level to make ensure the proper working of them with respect to several factors
which influences it. For analysing the external environment one performs the PESTLE analysis
and for their internal environment many factors are analysed.
The PESTLE analysis for Marks and Spencer is discussed below:
Political
This factor is related to the political circumstances of the nation. As these have a direct
impact on the company itself. At the time of Iraq War there was unstable scenario which created
an adverse impact on the Marks and Spencer as it lead to slowing down of economy. With the
change in government there is a disturbance in the policies and rules of the area which do not
allow effecting working of any organisation (Wrenn and Mansfield, 2014).
Economical
Economic state of the country affects the stability of M&S at the time of succession of an
economy every organisation flourish very well due to earning of great profitability in the market.
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Any new policy directly influence the financial aspects of the company as with an increase in the
VAT there was a downfall seen in the sales of individual.
Social
With the evolution of time the mindset of every consumers changes which impact the
choices and taste of people at different areas. The factor of sensitivity in the case of pricing
matters a lot to every buyer (Armstrong and et.al, 2015). It has also lead to increase in the
competition between various competitors as they have old fashioned products which are very
expensive which has forced them to make appropriate strategies to sell their products in this
society (Wilson, 2015).
Technological
Technological aspects plays an important role in promoting their products to various
customers. Also they should adopt various technologies which are advanced that can improve
their features like online shopping and home delivery. Media can also be regarded as very
effective for the better promotion via using several technological advanced strategies.
Environmental
The company is very much aware of the environmental aspects and adopting some eco
friendly techniques which has lead them to take a lead by their uniqueness as they sell products
by determining hoe to use and dispose them (Goss and et.al., 2013). Also they prefer to have less
packaging and bags in an intention of saving the surroundings by minimising the use of
resources.
Legal
As the standard of the product is very high they have to take concern of various legal
issues and policies that might create problem for flourishing their businesses and has to take
account of several issues which can be related to consumers, safety of staff etc.
Internal Analysis of Marks and Spencer is discussed below:
Structure of Organisation
The structure of company matters a lot as they depict the strength of their working
structure which includes the flow of information from certain departments and the relation of the
managers of various functional unit with the retail director of the M&S and also how effectively
they have managed various sections along with providing assistance to the customer (Bocken,
2017).
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Customer Service
Staff members are the representative of the store as they provide services to customers
on the behalf of the company. The level of the satisfaction given to buyers is considered as the
success factors of an organisation, the positive behaviour of the employees reflects the
enthusiasm to assist every consumer which creates a good image their mindset. Satisfied
customers provide a positive feedback to the company and also promote them among other
individuals through word of mouth.
Products
There are several kinds of products and services which are offered by them as they have a
wide range of products starting in the categories for home, clothings etc.
2.Marketing Objectives of Marks and Spencer
The factor of success depicts the ability of the firm to perform better than their rivals.
This factor is mostly dependent upon the objectives of marketing which is regarded as most
influential factors for achieving success in a particular market. Marks and Spencer completely
succeeded with respect to shares in market and profit earning as well. Maximum market shares
can only be achieved by effective marketing tactics and approaches.
They always believe in differentiating their products and services from the available one
in the market and can be considered as the main feature of the company. They provide a very
homecoming environment to all consumers featuring various services which are very cooperative
along with the superior comfort in shopping which lead to a huge recognition of their stores
among the people of the country which made them unique from the available retailers in market.
They created a sense of trust among their buyers with the concept of value for money. The result
was very fruitful for the objective of standing out from others.
As the graph of M&S reached the maturity they experienced certain advantages which
were gathering up of great experience in the market journey which lead them to understand it
effectively, their innovation process got changed, economies of scale came into existence along
with the improvement in the loyalty of customer towards the brand. This lead to further
formation of a new marketing goal of providing services which are improved at a low cost for
those buyers who are very price sensitive which definitely assured them a great success.
They had a focus on the quality of their products and services at a price which is
reasonable. Their marketing objectives also involved the pricing strategy related to their
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offerings in which they targeted every kind of potential customer who was price sensitive or not
which helped them to attract various buyers and developed a bond of providing first preference
to Marks and Spencer among other available choices.
They have also followed market penetration in which they introduced additional products
such as cosmetics, furnitures, books and compact Disks followed by various financial services.
They also introduced various events in marketing which included growth in advertising,
collaborating with other agencies for developing public relation and launching their department
for marketing so that they can assist customers in a dedicative manner. They also developed their
markets by increasing the selling space of stores by opening numerous stores across the country
and also all over the world. They have also developed their product by adding up products such
as jumpers and washable silk. Also have opened bakeries in their stores and food counters so
that they can differentiate themselves well from the competitors (Porter and Kramer, 2019).
These marketing objectives are reason which has provided a path for the successful
implementation of the business over years and also retaining at the same position and leading
them in the market as compared to other established competitors in the market.
3.Strategy selection
There are certain strategies available which are applied according to the situation of the
market. Every strategy has some important aspects when applied at the right time can create a
productive consequences and vice versa (Lorange, 2013). The right selection of strategies gives
many advantages that helps to sustain the market and provide strong competition to the rivals.
With the help of various strategies Marks and Spencer can be successfully able to position
themselves in the market. There are three kinds of strategies which they prefer on the basis of
certain factors which are discussed below:
Cost Leadership Strategy
It is used by the company when they want to enter into particular industry through the use
of cost concept related to their product and services. This is adopted when organisation seeks for
increasing the efficiency and lowering down the cost of operations and productions. This will
result in offering of products which are of lower cost as compared to other which are available in
the market. In this strategy they completely focus on the cost factor as they want to differentiate
themselves in the market. They prefer to make a lead in the market on the basis of the prices
offered for their products ad services. Also to sustain at the position in the economy of market
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one has to improve their offerings by maintaining the same ratios of prices because the buyers
are very price sensitive (Toms and Hang, 2016).
Some ways through which Marks and Spencer can perceive cost advantages are discussed
below
11 Improving the efficiencies of processes in the organisation11 Try to gain access to the materials which has a lower cost11 Making all the sources optimal11 Deciding for vertical integration11 Avoiding unnecessary costing altogether
Differentiation Strategy
As the current scenario is of saturated market one has to tackle with it efficiently and also
with the present competitors. This strategy includes developing such products which has unique
features which are totally valued by the buyers (Charter, 2017). Therefore one who wants to get
successful has to gain potential for developing and designing various products which are
completely differentiated from the rivals. With adopting the idea of uniqueness one has the
advantage of standing out of the crowd.
Differentiation strategy can lead to increase the internal strength of the organisation
which can be build through
1. Well establishment of research and development departments
2. Adopting the concept of scientific research
3. Employing skill full developers and manufacturers for products
4. Developing a strong marketing and selling departments
5. Improving the reputation of the organisation by adopting innovation and quality
6. Creating a reputation for the brand name
Focus strategy
Focus strategy mainly works on a rule which is divide and conquer. This includes
dividing the market in various segments according to their homogeneous preferences and choices
and targeting them accordingly (McDONALD, 2016). This process of segmentation leads Marks
and Spencer to create strategies focusing on different segments. Under the focus Strategy the
company applies both kind of tactics which are differentiation and cost leadership (Wilson,
2016).
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All these strategies have lead M&S to create a strong impact on the customers of the
market and they are successfully able to implement these strategies with respect to whatever the
demand for plan is required. These strategies have made this company to lead in the retail sector
and has gained a large customer base.
4 Market targeting and positioning
In order to achieve business objectives, and implementation of marketing plan, it is
essential for organisation to create effective segmentation, targeting and positioning. It has been
accomplished with the study of having high important and various important procedures which
provide support in accomplishment of business objectives (Lee and Lam, 2012). Highly effective
results will be able to analyse various important key responsibilities that needs to be
accomplished by management. In this context, managers of M&S have to take effective decision
related marketing planning, positioning and various important procedures that needs to be
accomplishment by management. It is responsibilities of marketers in organisation to create
awareness of their products between consumers, it is considered as essential for marketers of
M&S to be aware about the brands experience. Moreover, the USP of the brand is required to be
communicated by marketer to consumers.
 Segmentation: It implies division of effective selected markets in to small segments in
order to brings consumers together consumers who also have similar requirements and
interest of various important business procedures. There are various important ways
through which organisation can effectively target its own segment. It is there for
organisation to attain effective results (Kerzne and Kerzner, 2017). Geographical
segmentation strategy should be used by Marks & Spencer in which they will target UK
and other 13 countries where they have high sales and market share. M&S deals in
clothing segment, grocery and other business. For selling their products, they will have
to urban population and people of all age categories to attain high growth rate in market.
Company also needs to analyse requirement customers in different geographical
segments for providing quality products and services in order to meet requirements.
 Marketing targeting: It implies to select of best and potential customers which are able
to purchase products and service market. Effective targeting customers will enable the
organisation to attain high revenue and sales without making more efforts. Finds of
research provides understanding that products of M&S are costly and they are only
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affordable by premium class customers (Cooke and Williams, 2013). In past year,
growth and profitability of organisation in clothing segment has been declined and it has
also provided impact on its profitability in market. M&S usually targets the UK market.
In targeting strategy, manager are required to adopt mass marketing strategy in which
they will intend to target all people in order to achieve high growth in market. Further,
they will also require improvement their promotional practices and effective channels
such as social media application, E-commerce and telemarketing techniques in order to
communicate relevant information to customers about new products and services.
 Positioning: It implies to the act of designing the company's offering and picture in
order to occupy distinctive place in the target;s market mind. Effective positioning of
business will intend to improve business functions that needs to be accomplished by
marketers for providing growth and development to business in market (Kotler, 2015).
In this context, M&S needs to positioned their business as premium brand in retail
industry. It offers the premium price products for customers have also increased
complexities for organisation to attain business position in market. Company should
continue to offer premium price for customers as consumers has the willingness to pay
premium prices for their products. They should also set the prices as per requirements
and needs to improvement. In present scenario, organisation is required to adopt
customer focused strategy to provide products at prices as per perception of their
customers.
5. Assessment of 4P's
Marketing mix is analysed important element which has effective used by organisation to
get direction towards achievement of growth and development. It has been effectively adopted
by management in order to communicate high growth rate in market. In this context, M&S has
also adopted effective marketing mix strategy that needs to be accomplished by management.
Product mix of marketing involves assessment of 4 key elements of marketing which are
mentioned above: Product: It implies to the products and services which are developed and offered by
organisation to customers. Products and service of company provided helps to
organisation in attracting customers (Baker, 2016). In retail industry, there are various
supermarket chains which are providing similar products and service. Marks and
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spenders deals in clothing and grocery products. These products are highly influential and
effective as this is not required to be effective for organisation. In past several years, sales
of organisation is continuously is declining due to lack of effective innovation in products
and service. Increase in competition has also provided impact on customers preferences.
In order to increase the customers' requirement, organisation are required to develop new
and innovative products in order to differentiate in market. High market growth and
recognition have influenced the customers to increase growth rate and recognition in
market. Price: It implies to strategies which adopted by organisation to provide values to its
products and services in market. Determination of effective pricing strategy enables the
organisation to attain more and more consumers effectively in order to purchase market
segments. In this, M&S required to use competitive pricing strategy in its marketing mix
for effective product portfolio. It has its own house brands for clothing for women and
other customers. Generally in house brands in UK keep their prices in medium to higher
category because of effective and premium quality. Marks and Spencer still follows the
effective pricing strategy (Baker, 2014). It also follows competitive pricing strategy as
the customers are now having more options and to select from because of continuously
increased in competition. Company has also faced competition from various online
retailer in market and other supermarket chains. Moreover, company needs to adopt
dynamic pricing strategy as during seasonal time and generally the old stock should be
kept for sale at lower prices. Decline in prices of products will provide competitive
advantage to organisation in market.
 Place: M&S is identified as international brand which has established its more than 1000
retail store in operating in the more than 50 countries. Effective management of supply
chain in overseas nations has provided support to organisation in increasing sales and
brand image of organisation among customers (Westwood, 2016). In order to deliver
products to consumers, company has developed its own stores in different countries.
Through this, company has become able to provide direct accessibilities products to its
customers. Further, continuous increase in technology has transformed the perception of
customers towards purchase of products online because they will get more choice while
selection of products. Moreover, M&S needs to adopt online platform in to provide
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products and service to customers, company can directly provides information about their
products to consumers on websites. High growth rate have implemented effective
business products that needs to be appraised by management. M&S also needs to provide
option for international delivery for some limited products while purchasing online.
 Promotion: As per study, organisations are required to select their marketing strategy
very carefully after effective research and getting information to interlink its
advertisement campaign with the effective digital marketing and in store strategy. M&S
needs to emphasise to provide common and important information on the all medium of
communication (Chernev, 2015). Effective promotional channels helps the organisation
to attain high growth rate in market. In order to complete effective business operations,
that needs to completed by organisation to attain business operation in market. M&S
uses print media, TV ads, Mobile, and other social media campaign to carry out
marketing of products in effective manner. Highly competitive markets have provided
effective business approach in order to raise potential of consumers in market. In
addition, company also needs to promote its season sale to its loyal customers by
providing them special discounts on products and services in market. In order to improve
their sale, they can also run a special loyalty schemes for customers.
However, this effective marketing mix strategy will help organisation to sustain its sales and
profitability in retail industry and achieve growth in business.
6. Implementation, control and evaluation
It is analysed as process which is used by organisation to ensure the achievement of
strategic business objectives adopted by organisation. An effective role plays in process plays a
function of organising and directing individuals which involves development of comprehensive
list of business activities that needs to be performed, people responsible for these activities and
resources required (Porter and Kramer, 2019). In this context, M&S also needs to apply this
process to ensure effective implementation of business plan which are as follows:
 Implementation: There are various important ways through which company will be able
to implement this marketing plan (McDaniel and Gates, 2013). Selection of effective
methods are required to accomplished by manager to attain objective of attain high
growth and profitability in retail industry. In this context, for implementation of products
development strategy company needs to hire qualified employees who are able to
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promote their business in market. Further, product development strategy is adopted by
manager in which competition analysis in requirement to done by organisation which
involves identification of products and services which are offered by competitors to its
customers in market (Goss and et.al., 2013). Further, company also needs to identify
current trends and requirements of customers in order to make change in their products
portfolio in market. Further, for attaining high competitive position in managers are
required to adopt low pricing strategy and provide high quality products to consumer at
lowest possible prices in market.
 Control: It is also important process that involves analysis and observation of business
process to ensure that marketing plan should be effectively influenced by organisation. In
marks and Spencer, manager needs to provide their emphasis and consider their
marketing approach in order to formulate various business process in market. There are
various types of control in marketing plan such as control on annual plan, profitability,
efficiency and strategic control (Baker, M. J. and Saren, M. eds., 2016). Control on
annual plan involves analysis of company sales, rise in market share and financial
indicators. Middle management in M&S needs to analyse sales and process of
organisation this can effective for organisation to sustain business opportunities. Further,
M&S should also analyse the profitability of products in market, areas and customer
segment. In this, manager will select to provide those products in market which has huge
demand and provided high profitability. Control on efficiency involves monitoring
performance of employees, advertisement, sales, promotion and distribution of products
to achieve estimated business objectives.
 Evaluation: it is last stage of market plan that involves analysis and evaluation of results
which achieved after successful implementation of plan (Wilson, J. P., 2015). In this,
managers of M&S should make comparison between actual and expected outcomes in
order to understand improvement which are resulted after implementation of marketing
plan, Sales reports of previous and current year are considered by manager to make
comparison of results obtained. They will also analyse profitability statement and budget
to analyse growth rate of organisation in market. Profitability statement will clearly
determine improvement in profits.
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CONCLUSION
It has been concluded that there are various external factors such as political, social,
technological, legal and environmental which has a major influence on the working of Marks
and Spencer. The internal environment of the company is affected by its employees, structure of
organisation and customer services. There are various marketing objectives which are followed
by this organisation such as market penetration, market and product development which M&S
uses most often as they have made their business scope more broader. They have also applied
various strategies such as differentiating their products from existing one and also providing
them a stand from the crowd of sellers in the market. Major strategy such as cost leadership
strategy which is flowed by the company leads to provide products which are at lower price
while the qualities of them remains the same. Also the product mix such as product, price, place
and promotion has been discussed so that one can get a closure view of the company's profile.
The product mix of the company has played a crucial role in increasing the market and earning a
great profitability. All these factors have equal coordination in providing a great success to the
business plan of Marks and Spencer.
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