Current Marketing Strategy and Market Segmentation Analysis of Marks and Spencer

Introduction to marketing

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Current marketing strategy of Marks and Spencer and position in the market:..........................3
Understanding how chosen customer groups will grow business within retail marketplace:.....5
Market segmentation analysis and suitable market research ......................................................6
Analysing the buyer behaviour and justifying the marketing strategy........................................8
CONCLUSION................................................................................................................................9
REFERENCES................................................................................................................................1

INTRODUCTION
Marketing is one of the most important pillar of every business organization that provide
support to business operation, this is key activity that not only used as promotion of product and
service but marketing is performed to keep greater footprint in business world. Marketing is
process of reaching target audience and selling them product and service, certain promotional
activity is being crafted according to the product. This study is based on Marks and Spencer; this
is one of the finest clothing retail brand in the UK who have wide range of product dealing in
almost every international market (Bala and Verma, 2018). This report will discuss current
marketing performance of company and current marketing strategy. Later this report will discuss
position of marketing strategy of Marks and Spencer in target market. Later this report will
discuss two sets of market segment criteria which can be targeted successfully. At last this report
will discuss customer group and how this impact business growth mainly in retail marketplace.
MAIN BODY
Current marketing strategy of Marks and Spencer and position in the market:
Marks and Spencer is one of the largest clothing retail brand that have brand image and
reputation in the market, this company provide the finest clothing to almost every customer
segment including elite group with stable income (Blut, Teller and Floh, 2018). Marketing of
Marks and Spencer allow them to cover every important area. For example, target customer,
target market and other element. Marks and Spencer focus on marketing mix, these are:
Product mix strategy: Product mix is one of the most important element in the marketing
process, almost every business organization focus on keeping marketing strategy effective by
focusing on product mix. Marks and Spencer have wide range of product which keep them ahead
of competition, current marketing strategy of this organization completely depend on product
range of the firm. For example; Sustainable product or clothing is current marketing strategy in
which Marks and Spencer cover current market trend. Consumer demanding sustainable clothing
in affordable price range which mean Marks and Spencer have included product related to
sustainability (Lim, 2021).
To meet the goal of current sustainable marketing of Marks and Spencer, this company
focus on collaborating with sustainable supplier who are ready to provide eco friendly raw
material to manufacture eco friendly product. Marks and Spencer know sustainability is one of
the emerging trend after COVID-19 impact, they drive their marketing under sustainability topic

to attract more customer. They started this marketing process by focusing on either modifying
product or brining something new related to sustainability so that consumer become potential to
the firm. Marks and Spencer also spend their budget and finance on product packaging which
allow them to attract potential consumer.
Price mix strategy: This is another important element of marketing mix where business try to
play with price to attract customer and make their marketing effective. Price is one of the most
common factor of marketing which have ability to attract customer from different target market,
pricing strategy is element in which company adopt one pricing strategy (Rust, 2020). Pricing
does matter when it comes to marketing, this is one of the best way to attract consumer. Current
pricing strategy of Marks and Spencer is dynamic which include both penetrating pricing and
skimming pricing allowing firm to reduce or change price according to market demand.
Keeping price dynamic provide competitive advantage to the Marks and Spencer and
allow them to attract consumer, they introduce new concept in clothing area by keeping price
low to attract consumer. With sustainable clothing, pricing is also sustainability which simply
means even sustainable cloths are available in affordable price range. The Marks and Spencer
have brought major changes in marketing process, pricing strategy of firm was changed after
COVID-19 impact because spending capacity of consumer is low and their purchasing power
was also impacted. Marks and Spencer have kept pricing dynamic because they believe, there is
instability in market where trend keep changing and influence price.
Promotion mix strategy: This is most important element of marketing mix which allow firm to
promote their product and service, promotion mix simply means firm will focus on using
promotional tools and platform to reach as many audiences as possible. Marketing strategy
completely depend upon promotional mix in which tools and platforms are been used by the
company. Marks and Spencer currently focusing on digital marketing strategy to cover current
trend and consumer needs in the market. Current marketing strategy of Marks and Spencer
completely depend upon digital marketing in which they try to create marketing campaign.
Recently, Marks and Spencer introduced new product line based on sustainability, and
they promoted under sustainable marketing campaign where they highlighted each and every
benefit of adopting sustainability at every point of lifestyle. Marks and Spencer heavily relay on
social media marketing in which they try to reach as many audiences as possible, this company