Marketing Audit and Current Strategy of Marks and Spencer

This report provides a marketing audit of Marks and Spencer's current performance, current market strategies and position in the market, STP approach, tactics, relationship with customers, and PESTLE analysis. The report also includes the company's commitment to sustainability and environmental responsibility.

Introduction to
Marketing Assessment

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
Marketing audit of company’s current performance...................................................................3
Current strategy in market of marks and Spencer.......................................................................4
Current market situation..............................................................................................................5
STP..............................................................................................................................................5
Tactics..........................................................................................................................................6
Relationship with customers........................................................................................................7
PESTLE Analysis........................................................................................................................8
Customers and its contribution in growth of business.................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
The market analysis is an important part of opening a new enterprise or business. Proper
evaluation of the market allows marketers to understand the ideas for the contemporary business
and are expecting even a product's future. The marketplace evaluation is described as a thorough
evaluation of the marketplace to test the desires and necessities of any new or present idea,
products or services earlier than making techniques to start it and making an investment in it.
This is the essential step in the improvement method of any product. Every enterprise and
entrepreneur have to recognize the need for their merchandise in the marketplace or the
significance of the merchandise. Without the right marketplace evaluation of the brand new
product's idea, the product won't be applicable and incur heavy losses (Berdiyorov, 2020).
This report is based on Marks and Spencer Group plc, it is a chief British multinational
store with headquarters in London, England, that specialises in promoting clothing, domestic
merchandise and meals merchandise, on the whole of its own brand label. The below report
includes the business current performance, current market strategies and position in market, two
set of market segmentation, relationship between organisation as well as customers.
TASK
Marketing audit of company’s current performance
Through approach audit, the corporation could be capable of solution monetary disaster and the
financial recessions. For advertising blend, Marks and Spencer is simply in area in that their
blend conforms to the merchandise, area, price, promotion.
ELEMENTS ABOUT
PRODUCT Such products or items that are sold to specific consumers who are
determined by the components of the marketing mix. As far as Marks and
Spencer is concerned, management is effectively and efficiently engaged in
the clothing brand field of the business in accordance with the given
situation in the business (Samatovich, 2021). As because profitable products
can be add to the value with their customers who are willing to pay and
show interest towards their brand. As because the business of management
uses such sort of parts to complete the goals and targets with different fields

of areas as per to the goals.
PRICE The management of Marks and Spencer has a unique product marketing plan
of actions and researched techniques that are the part of the marketing mix.
All clothing brands in the world might frequent utilise such sort of the
approaches and the plan of actions to control and influence consumer
requirements and also the entrance and advancement of the products.
PLACE As on the other hand, the components of the marketing mix will consider the
suitable places or activities that are used to manage goals. As there are
various places where products are distributed or sold as effectively and
efficiently (Tatlow‐Golden, and et.al., 2021). In relation to the Marks and
Spencer, the management will continue their operations and functions to
expand its product line, but the location components of 7P remains
unchanged because as the product grows the management might add new
sites or localities as effectively and efficiently in the business.
PROMOTION Marks and Spencer have agreed on complete advertising coverage and have
aligned with all available sections. The management have followed online
and offline techniques to make feel good to their customer with their
presence. Advertisements should be framed in magazines, newspapers,
radio, TV channels, billboards and billboards (Banerjee, and Olson, 2021).
The logo recognizes the importance of movie star endorsements and will get
attracted many celebrities to promote their products such as Myleene Klass,
Antonio Banderas, Lisa Showdown and John Sergeant. Marks and Spencer
has an up keeping method that will allows its products to be get sold as
effectively.
Current strategy in market of marks and Spencer
Marks & Spencer selects their promotional activities a good way to align its commercial
marketing campaign with virtual advertising. Marks & Spencer makes use of print media, TV
advertisements, cellular advertisements and different social media marketing campaign to market
their products in effective manner. The organization makes use of its very own internet site to
sell its brand, garments for women, men and kids. Customers can locate blogs and style hints on

its internet site. Marks & Spencer additionally promotes their every season sale to their
customers. M&S additionally runs a unique loyalty program ‘Sparks’ which provides factors to
the customer’s account on the idea of quantity spent on shopping. These reward factors can then
be spent on destiny purchases from Marks & Spencer stores.
Current market situation
Marks and Spencer is a famous brand having their operations in many parts of the world.
The organisation is developing each year and offers a large quantity of good products there
customers every year. According to in statics of 2020, marks and spencer have their 1038 stores
which are located in United Kingdom’s and they have other 481 stores and different locations all
over the world. The company provides employment to approximately 75000 people in which
major are the females (Çalı and Balaman, 2019). It depicts that marks and Spencer is a large
organisation who provides bread services to their customers and now planning to open their store
in Australia.
The plan of marks and Spencer to increase their stores all over the world have helps them
to provide effective functions in the market and provide a good support and functions to their
clients. The promotion activities of the company helps them to perform their functions in the
market and attract more and more customers towards their products. As marks and Spencer’s
deals with the large number of affairs and manage a particular sort of products which helps them
in good revenue every year. The human resource of the company also performs and special
function and requires the company to deal with all the personals of the company in effective
manner. This dealing of the company in large number of products will help them to increase their
profitability and economic state every year and maximize their success in the market. The inner
advertising techniques used by Marks and Spencer’s which helps them to instigate their outside
market place potential for the company.
STP
The STP approach helps an organisation to perform their important functions in the
organisation according to the behaviour of the customers. This approach helps the organisation to
diversify their clients in different parts according to their needs taste and preferences. Marks and
Spencer also uses this STP approach to target their customers in effective manner and locate
their new customers in the market. The essential elements of STP approach are explained below

Segmentation - Marks and spencer divide the market with the help of several segments
to keep sustainability in the company. The target there customers with the help of few parameters
such as demographic psychographic behavioural and many more. The two set of segments that
are chosen by marks and Spencer is the age from the demographic segmentation and behavioural
segmentation in which behaviour of consumers to buy the products and services of the company
is valued by the company to retain them (Caliskan and Esmer, 2020). With the help of these two
sets of segmentation criteria the company has an objective to concentrate towards providing
pleasure to their consumer so that they can get maximum satisfaction from the company.
ii) Target: Marks and spencer follows unethical business structure which help them to
run their business successfully but there is still a need for the company to maintain their target
which are market oriented so that they can be able to maintain sustainability in the company.
According to this the organisation is required to set some targets which will help them to
motivate their employees and the business to achieve those targets. This requires the company to
calculate the several opportunities and threats that are available in the market so that they can
evaluate the games from their target. That which has been said by the company should be
achievable and measurable as non-achievable targets can provide alternative target to the
company.
iii) Positioning: In order to position their products and services in the market marks and
Spencer is required to use several promotional activities and marketing mix which will help them
to formulate their strategies. The four P's of marketing mix that a product place price and
promotion help the company to improve their four important elements which will help them to
position themselves in the market. In order to achieve success in the market and establish a
position marks and Spencer is required to properly improve their four important Ps that is
product price place and promotion.
Tactics
In order to achieve success in their clothing as well as food business marks and Spencer
is required to make an effective plan for a strategy that will help them in their actions. In the first
stage the company is required to increase their valuation than before with the help of identifying
their customers and their marketplace. Marks and spencer provide a place to their customers
where they can get quality clothing brands and fresh foods for their daily use. The company is
required to improve their quality in both food products and clothing brand so that they can

deliver fresh items as much as possible. In order to expand their clothing collection the
company's required to identify the taste and preferences of their customers and also deal with
many other brands and different countries and different locations. In order to identify their
customers the company is required to segment their customers into parts that is the audience and
their loyal consumers who came again and again to their stores. The loyal customers of the
company will help them to expand their business and provide motivation to them so that they can
expand and enhance their business activities.
However, the company marks and Spencer requires to check their revenues on continuous
basis every financial year so that they can make their business more profitable and prepare an
effective budget so that deviations can be found at early stages. In order to achieve success the
company is also required to have effective talent in human resources and requires to recruit fresh
talent so that they can help the company to get new ideas for their expansion. Marks and spencer
already have an effective environment for their workers but they need to maintain this good
environment so that they can provide maximum satisfaction to the employees who are working
with the organisation. This will help the company to enhance the productivity of the employees
which will later results in in more revenue and profitability to the company. All this helps to
another is that a successful plan and a proper application of the plan in the organisation can
change the future of a business.
Relationship with customers
The important customers of marks and spencer’s includes their loyal customers who gets
satisfied with their clothing brands and love to come again and join hands with marks and
Spencer. It is because that the customers get satisfied with the services provided by the company
and helps the commercial business of marks and spencer to get regular clients so that they can
live profitably. The profit of the company is due to the fact that the company provides maximum
customer satisfaction with the help of their effective services and products. The loyal customers
of the company will help them to increase their profitability and their brand image in the market
create an extra picture for the company. It is all because of the quality product which the
company sold to their customers and gain their trust with them. A large number of loyal
customers in the company helps to defects that marks and spencer has a good relationship with
their customers and provide effective services to them so that they can retain their customers
with the company. (Grönroos, 2017).

PESTLE Analysis
Political Factors -
The management of Marks and Spencer are getting benefits from the European
Community trade agreement that has also reduced supply costs. The business of management can
take advantage from the European’s market and its products that can circulate freely in various
nations with no restrictions in terms of the tariffs and taxes. Price regulation will manage in other
nations in terms of price regulation mechanism for consumer services. Marks & Spencer
evaluates that it is very important to cooperate and interact closely with the government to
protect the legitimate interests of the organization. They responded to public queries and resolve
them through their official website (Ferrell, and Ferrell,, 2021). The business of management
having ethical or social values and fair trade methods and will also receive an effective support
from the government. As there are two main factors that will have an impact on the company that
are political stability and taxation as effectively and efficiently.
Economic Factors -
Economic factors will consist the inflation rates, interest rates, exchange rates, and
economic field of growth. The United Kingdom is termed as having the largest economy as
globally. Britain’s fiscal and monetary policies are well maintained as because the administration
have an effective finance and will also succeeded in keeping inflation at lower level. The
business’s overall plan of actions will offers high quality products to their consumers. Hence, the
financial crisis might lead to decreased disposable income in the field of market that will lead to
a failure in the managerial demand for high quality of products and further decreasing their
section on luxury goods or clothing (Sibbing, Candel, and Termeer, 2021). Marks & Spencer
have an impact due to the crisis as because the company had to lay off 3% of its 65,000
employees in the management.
Social Factors –
In this factor the consumer purchase will have an impact on the market culture, social,
personal and psychological changes. Hence, the clothing industry has increasingly holding
several term of the changes with the field of the market tendencies and offered lower priced
clothing on the market. The clothing line shifted in new form of section that will offered
products and services to their customer that will rely on the location and demographic data. The

number of credit card transactions entering the market has increased as effectively. Marks and
Spencer took advantage of such sort of opportunity to allow their consumers to pay by credit
card and will maximise their sales as effectively.
Technological Factors –
The management of Marks & Spencer declared a technological transformation plan that
will make a management as a digital first organisation that will offers a varied consumer
experience. It have basic set of objectives to create active, faster and developing business
techniques for the business management. The business of management is now concentrates on
creating a new technology that will operates the model that will supports Marks & Spencer in
developing new technologies by adapting dynamic business approaches.
Legal factors –
The legal factor will involves the basic set of laws and regulation in relation to the Marks
& Spencer, the management continues their terms to organize training courses in various sections
and upgrade the courses to follow the manner of the current laws and regulations (Mahmoud, and
Bagozzi, 2021). The brand has acknowledged several term of the analysis to protect their
employees and candidates from the potential risks of exposure as effectively and efficiently.
Hence, the business of management of Marks and Spencer will identify the whole issue and will
also try to resolve such sort of issues as effectively.
Environmental Factors –
The environmental factor will involves the suitable manner for consistently section that
has various fields of variation with approximately 65,000 employees in the Marks & Spencer
with 2,000 suppliers who act as a mediator to decrease the social disparities (Kumar, and et.al.,
2021). They perform their operations and functions in various sort of the areas and dealings with
fair value of trade and maintain healthy section in terms of good environment.
The management of Marks & Spencer PESTLE analysis that are mentioned above will
highlights the several sections that will have an impact on the managerial performance. It will
supports the manner of business to measure the significance of external managerial factor of
Marks and Spencer as effectively and efficiently.
Customers and its contribution in growth of business
As it is important for all the management to consider customer needs in the manner of the
marketing. Existing customers will offers most suitable and essential indications to persuade

effective consumers. Marks and Spencer will not appear to have a particular set of the target
market with an adequate sort of the profile but the business of management will chooses target
orientated customers and their taste and preferences as effectively and efficiently. The basic
fundamental section of the brand equity will follows the suitable manner of excellence, value,
service, innovation and recognition that has always been the keystone of the Marks & Spencer
management. The management of Marks & Spencer has established an effective trading business
in 30 international places with over 300 stores in the United Kingdom also as effectively and
efficiently.
The field of the marketing will creates a platform of products and their facilities that the
business of management will offers to their customers at a specific price (Gross, and Laamanen,
2021). The section will also involves the tangible goods, intangible facilities or advantages and
references. For example, when the business that can evaluate each of these dimensions such as
tangible, intangible, and price as separately. Hence, when it will basically make a decision that
might not buy products from one manufacturer and will buy a service from another producer, and
buy a price from a third manufacturer. These three together constitute a company's product or
service package as effectively and efficiently in the business of management.
CONCLUSION
From the above mentioned report, it has been concluded that, marketing is an essential
term as because it will enables business person to maintain dealings or relationship with their
customers. As it is not easy to identify the solutions with the continuous method that will allows
the management to succeed it as easily. Marketing methods might easily offer several field of the
areas by the managerial development for promoting the growth of managerial plans to meet
consumer requirements. It will help the customers in making a good purchasing decisions. In
addition, it will also allow the buyers to recognize some of the unique producers and product
competences in the field of the marketplace.

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