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Marketing Strategies of Marks and Spencer

   

Added on  2021-02-20

14 Pages4449 Words27 Views
INTRODUCTION TOMARKETING

Table of ContentsINTRODUCTION...........................................................................................................................1TASK...............................................................................................................................................1CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12

INTRODUCTIONMarketing means the strategies which are used to promote the product or the strategieswhich are used to capture the market. Generally, companies use this to buy and sell the productsand services. It includes advertising, promotion and selling (De Mooij, 2018). Activities thoseare includes in the marketing are tools of the marketing. Marketing help to increase the customerbase, analyse the need of the buyers and develop new products (Chaffey and Ellis-Chadwick,2019). This report is based on the Marks and Spencer company which is a retail industry based inthe Leeds United Kingdom. It was established in the year of 1884 by Michael marks and ThomasSpencer. In the year of 2019 it has total 1463 stores worldwide. It deals in all type of businessand it have revenue of 10377.3 million pounds. This will include the meaning and definition ofthe marketing and importance of the marketing. Further this report will include the strength andweakness analysis of the Marks and Spencer. This report will also include the marketingsegmentation and importance of it for the organization. TASKWhat is Marketing?Marketing is a continuous process or exposer to the advertising and promoting theproduct and services to the people and attract them to by the products. It is a process done tounderstand the needs and wants of the public and sell the products and services and increase thesales of the company and want to earn ore profits. Marketing includes the advertising andpromotion of the products. There is a marketing department exist in every company. Marketingis mainly based on the advertising, it means to advertise product and attract potential consumersby advertising product and increase the sales of the company (Wirtz and Lovelock, 2016).Marketing may be taken as the selling but selling does not mean to the marketing. Selling andmarketing can be differential by the following terms. Basis of differenceSellingmarketingPoint of start It starts with the factory whenthe product is manufacturedand ready to sale in the marketIt starts at the market byresearch of the market for theevaluation of consumers needwants. focusI focus on the already existIt focuses on the need and1

product, which is already inthe market.satisfaction of the consumers Means It means the selling andpromotion of the products(Homburg, Jozić and Kuehnl,2017).It means to the integratedmarketing so that product canbe promotion.According to standards marketing is a planning and execution of the operations. Itconsists more different steps in between that which are pricing, designing, promotion,distribution channel for the good and create the product according to the needs of the consumers(Chernev, 2018).Importance of the marketing: - marketing is really importance part of every business and to be successful every businessneeds a proper marketing plan that can be easily derive the process of the business.Illustration 1: importance of marketing(Source: Need and Importance of Marketing, 2013)it provides the valuable data: - marketing provides the valuable data for the operations ofbusiness activities and helps to make the decisions. It helps to evaluate the consumerneeds in the market and market opportunities (Felix, Rauschnabel and Hinsch, 2017).2

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