Marketing Essentials Marks & Spencer

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Added on 2020-11-13

Marketing Essentials Marks & Spencer

Added on 2020-11-13

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Marketing EssentialsMarks & Spencer[Writer][Date]

Page | 21.Introduction to ReportThis report is for Marks & Spencer Plc (M&S), a giant British multinational retailer headquartered in Westminster, London. Established in 1884 by Michael Marks and Thomas Spencer in Leeds UK, M&S is a strategic focused clothing and fashion, thus pay strong attention to sell of clothing, home products and luxury food products. Besides, the giant retailer also tradesin a variety of areas including loans, credit cards, insurances and other Bank Technologies. Thereare three parts of this report. In the first part, the marketing role will be explored along with how it interrelates with M&S’s other functional units/departments. After that in the second part, ways will be explored and compared through M&S and its major competitor Zara, a Spanish giant retailer of the fast fashion (clothing and accessories) domain. For this, marketing mix model will be used. At last, a basic marketing will be developed for M&S.2.PART 12.1. Explain the role of marketing and how it interrelates with other functional units of M&S.Roles & Responsibilities of M&S Marketing FunctionsM&S carries out some major marketing functions while fulfilling its basic roles and responsibilities as in the following:Effective Managing Method The marketing purposes of M&S have a main role, that is, to lead the business to effectively carry out their functions related to supervision. In doing so, all the every accomplishments are supported by them, whether it is the stage of collection of raw materials or the stage of product delivery as per the customers’ requirements, by assuring appropriate and due managing support. (Potts and Ankrah, 2014)Making Sure Customer Satisfaction Making sure customer satisfaction is the focus of M&S, and for this the management focuses strictly on obtaining correct information related to choice of the customer, as well as their manners and observations, so that their preferred products can be delivered within short time span. By using a variety of methods, this process is done by gaining the customers’ opinions and

Page | 3thus they are able to facilitate them by delivering the products as per their needs and wants. This is the simple way M&S satisfies their customers and expand the clientele base everyday (Bourne and Bourne, 2012).Observing the Standards Compared to competitors, such as Zara and others, M&S’s management does all hard endeavours to satisfy their customers by offering the best and unique quality products. For this, they use quality assets from the suppliers. This way they are able to pay strict attention to the aspect of value of the customers as they earn their loyalty, as well as their suppliers as they are able to achieve their credibility. (Mellahi, Morrell and Wood, 2010)Business organisations have to define their vision and/or mission statement in which they define the business purpose. Through vision and mission statements, successful leaders clearly communicate the organisation’s strategic direction and business intentions to their stakeholders. As an instance, the mission statement of M&S is “To make aspirational quality accessible to all” (Burns, 2012, p.223), and its objectives are to gain trust by providing customers with superior quality products and services that value their money, and they also want to be innovative in the industry.Role of Marketing and Its Interrelation with Other Functional Units of M&SM&S has a flat organisational structure, and this kind of structure has restricted levels of the management between administrative level and front line workers. Each organisational division isadjusted by the each department of the company. On the basis organisational structure, various functions of the business such as human resource, finance, marketing and sales are tuned. For achieving the organisational mission and objectives, M&S pays strong attention to some exclusive functional areas, including sales and marketing, HR, and administration and IT supportworking in a collaborative manner. By focusing on these main functions, M&S has become one of the giant retailers of goods and the company’s overall growth strong relies upon these major functions (M&S, 2017).The M&S marketing functions are an integral part of organisation and for this very reason other organisation’s departments and functional units are strongly linked with one another. These marketing functions are very important because they need support by other operational departments as well to perform in efficient and effective manners. If an

Page | 4organisation needs to devise and enact a marketing plan, then it requires proper assistance given by the departments of HR, sales and production. Moreover, if the marketing team of M&S wishes to facilitate customers by offering a discount package, then the marketing department needs to contact and communicate with finance department. Finance department need to provide sufficient budget. HR department is responsible for staff training, recruit the people, development demand, forecasting, customers feed backs analysis, etc. Beside this, sale department of M&S also facilitates in introducing the products to potential customers. Thus, the marketing functions of M&S work separately but with one common aim of increasing the profitability level.Using Marketing Mix ModelThe concept of a marketing mix was coined in the 1950s by Neil Borden and included a list of 12variables that marketing managers should pay attention to as a guide to improve their decisions. If the purpose of a company is to meet certain objectives, following a strategy defined in the strategic plan, the marketing mix is to help achieve these objectives. The marketing mix is a set of interrelated tools that through controlled management exploits and develops competitive advantages with respect to the competition.MARKETINGFinanceIT support Procurement

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