Marketing Principles and STP Analysis of Marks and Spencer

Marketing
management

Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................4
A description of key marketing principles and how these apply to your chosen organisation. . .4
Appraise the rationale of marketing decisions taken by your chosen organisation.....................6
Assess the concepts of segmentation, targeting and positioning specific to a product or service
offered by your chosen organisation............................................................................................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
The marketing management of a business is responsible for development of a business
entity by development of its sales and promotion (Avila-Robinson, and Wakabayashi, 2018). It is
the key function of marketing management to develop focus on application of marketing mix
helps a company to develop a marketing strategy. In the recent times, it is essential for the
business entity to develop major emphasis on development of marketing planning framework. In
this report various dimensions of marketing are covered in a precise manner in order to develop
marketing mix. This includes application of segmentation, positioning and targeting of a product
in order to serve the target market. In this project example of Marks and Spencer company is
taken into consideration which was established in the year 1884 and based in United Kingdom.

TASK
A description of key marketing principles and how these apply to your chosen organisation
Marketing principles
Marketing principle are the ethics and norms under which a business organisation should
work. Firm use different marketing principles to advance the performance of existing outcome or
to introduce new product in the market. Marketing mix is one of the important tools and
techniques for designing any product promotion strategy. The application of marketing mix helps
a business to focus on emphasis on key areas of development by promoting a product. All major
marketing principles focus on ethical duties of a business to serve target customers in a different
manner (Balducci, and Marinova, 2018). Various tools and techniques which are used by a
business entity helps in supporting development of marketing areas and functions.
Marketing mix
Product - This refers to the product or service that company offer to their customers are,
packaging of product, how an item looks, and warranty given. M&S garments products are
known for their good quality of stuff moreover style and variety besides these factors
manufactured using sustainable methods, packaging is also done with recyclable materials.
Place - This encompass where the product is made, viewed in advertisement, sold and company
should make sure that their buyers are not facing any difficulty to get the product it needs to
assembles to their customers at right place with right time. M&S has its 600 plus stores in UK as
well as established, its international brand has more than 1000 stores operating over 50 countries.
Promotion – Promotion is doing with many ways like, newspaper, radio, online promotions,
advertising. By communicating with the people they get to know about the product company
need to select on how they want to give their target massage to their customers. M&S choose its
marketing strategy very carefully as they align there advertising through campaign with digital
marketing by providing blogs on their own website related to fashion and lifestyle (Bruhn,
Kirchgeorg, and Meffert, 2018). Apart from these they provided season sales to attract their
customers. Marks and Spencer also develop and take assistance of a promotion campaign which
is effective in order to develop focused advertisement methods. In the recent times due to
increase in globalisation, company is developing a promotional strategy with help of successful
marketing campaign. There are international business organisations in the marketplace which put