Marketing Principles and Their Application in Mark and Spencer

Marketing

Table of Contents
INTRODUCTION ........................................................................................................................1
MAIN BODY ...............................................................................................................................1
Marketing principles :- ...............................................................................................................1
Justify how other departments are linked with marketing area. ............................................2
Explain how fostering and hindering each of these units may be to the marketing units.
.....................................................................................................................................................3
Based on analysis and study justify how internal and external market effect on the
business and its working :- .......................................................................................................4
Comparison of the brand and its challengers :- .........................................................................4
Sostac model :-............................................................................................................................5
CONCLUSION .............................................................................................................................5
References:.......................................................................................................................................5

INTRODUCTION
Marketing is the inclusive term and it considers all sources and a set of activities
essential to direct and ease the flow of goods and services from producer to user.
Business owner consider it as a management function plan. It is a human activity commanded
at satisfying wants and needs through exchange procedure. It is a process of exchanging
goods in return of money (Lemken, and Siguaw, ., 2021). This report is based on Mark and
Spencer, it is UK based company and deals in house hold goods and clothing. It is well
known retail industry in global country it was found in 1942 by Michael mark and Thomas
Spencer. This report will cover the concept of marketing with its principle the it will explain
the internal and external factors that effect on marketing. Further it will compare the
competitor with the brand and advantages that company have while working in market. In
last it will explain the sostac model in relation of marketing (Page, and Connell,, 2020).
MAIN BODY
Marketing principles :-
This activities are aimed at satisfying the needs and wants of users and therefore,
finding out user needs and wants is the initial point for all marketing activities. It starts with
users and ends with users by fulfilling their requirements. It consist of major marketing
principle which is listed in below :-
 Product :- it is core offering that is provided by the company in order to make
happy the wants and needs of the users or buyer. In regards of M&S, the company
being collaborated with sustainable goods with the aim of acquiring and market
surroundings goods. Such commodity are also produced utilising sustainable ways.
Goods packaging is done using recycle sources. This planning has raised the
confidence of various possible buyers.
 Price :- it has a lot of effect on the services buyers contentment level. It is
majorly consider a proxy for quality and vice versa. This become an significant
component for the actual service expenditure to occur . In relation of M&S, The
brand ensures to give goods in reasonable rate , this approach makes it easier for
more buyers to support the company sustainability objectives.
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