PGBM15 Marketing Management Assignment

Running Head: PGBM15 MARKETING MANAGEMENT ASSIGNMENT
PGBM15 Marketing Management Assignment
Name of the Student
Name of the University
Author’s Note

1PGBM15 MARKETING MANAGEMENT ASSIGNMENT
Executive Summary
The sole purpose of undertaking this report is to make use of appropriate knowledge of
business and marketing philosophies and concepts, and then critically evaluating the strengths
of M&S’ strategy in delivering value with respect to its current brands and customers. Later
on, within this report the research will be carried in regard to that of the dynamics trends
within the marketing environment of the UK retail industry. A situational analysis is being
carried out for the identification of the key factors that underpin the opportunities and
challenges for the company. Later on, within this specific report based upon the key
dynamics identified, recommendation is being undertaken by means of covering marketing
strategies and tactics (to any of your selected portfolios within M&S) in order to satisfy
marketplace needs and build its market share. The various suggestions for implementation is
being underpinned with that of the relevant theory and practice.

2PGBM15 MARKETING MANAGEMENT ASSIGNMENT
Table of Contents
Part 1: Using appropriate knowledge of business and marketing philosophies and concepts,
critically evaluate the strengths of M&S’ strategy in delivering value concerning its current
brands and customers.................................................................................................................3
Production Concepts...............................................................................................................4
Product Concepts....................................................................................................................4
Selling Concept......................................................................................................................5
Marketing Concept.................................................................................................................5
Holistic Marketing Concept...................................................................................................6
Integrated Marketing:.............................................................................................................6
Performance Marketing:.........................................................................................................7
Internal Marketing..................................................................................................................8
Relationship Marketing..........................................................................................................8
Part 2: Research and evaluate the dynamics and trends within the marketing environment of
the UK retail industry. Produce a situational analysis identifying the key factors that underpin
the opportunities and challenges for the company.....................................................................9
UK Marketing Environmental Analysis (Departmental Industry),........................................9
Products and services segmentation (2018-19)....................................................................11
Marketing Environment analysis..........................................................................................11
Marketing Structures and environment:...............................................................................11
BREXIT & its impact on M&S:...........................................................................................12
Changing of consumers behaviour.......................................................................................13
Digital marketing and Knowledge of Technology...............................................................13
Supply Chains of Mark and Spencer:...................................................................................14
Part 3: Based on key dynamics identified in part 2, make appropriate recommendation
covering marketing strategies and tactics (to any of your selected portfolios within M&S) to
satisfy marketplace needs and build its market share. Your suggestions for implementation
must be underpinned with relevant theory and practice...........................................................15
Marketing Strategies of Marks and Spenser:........................................................................15
Product Development Strategy:............................................................................................16
Segmenting, Target and Positioning Strategy of Marks and Spenser:.................................18
Recommendations....................................................................................................................21
Conclusion................................................................................................................................24
References................................................................................................................................25

3PGBM15 MARKETING MANAGEMENT ASSIGNMENT
Part 1: Using appropriate knowledge of business and marketing philosophies and
concepts, critically evaluate the strengths of M&S’ strategy in delivering value
concerning its current brands and customers.
According to the author (Kotler et al. 2015), says that Marketing is an organisational
function, a philosophy of the business and a set of processes for creating, communicating and
delivering value to customers. Another way to say that it is the science and art of discovering,
produce and distribute an efficient way which satisfies the worth of products or services and
requirements of the target market to make a profit. There are various marketing philosophies
used in the business operation to guide their marketing efforts.
The marketing concepts are relating to business philosophy which classifies needs and
wants of customers; it benefits both customers and the organisation. But identical or one kind
of marketing philosophy is not suitable for every business. Hence, it required different
business concepts. These concepts determined by clear objectives, a) Cost efficiency, b)
Product quality, c) Customer’s needs and satisfaction etc.
Marketing management philosophy also is known as marketing concepts. The choice of
the concepts depends on the company in which fields they will target to satisfy customers’
needs and wants to make maximum profit. Therefore, under the marketing philosophy – the
following five concepts are explained: they are as follows:
 Production Concept.
 Product Concepts.
 Selling Concepts.
 Marketing Concepts.
 Social Marketing Concepts.

4PGBM15 MARKETING MANAGEMENT ASSIGNMENT
Production Concepts
This concept is suitable for mass production and low-cost price when knowing the steady
consumption market and consumer prefer the products. It belongs to the Law of supply and
demand formula. This concept works well when demand is higher than supply. Hence,
companies are focusing on producing more products to reach total market audiences at a low
price. Low price products may attract new customers, but they do not focus on the quality,
and so it may backfire of fewer sales because of substandard products of some audiences.
Example of production concepts:
 This approach is perfect for the companies whose market are spread all over the world.
M&S can’t get many benefits out of it because there are many players in the market
involved with similar business.
 Advantage of doing monopoly business.
 Whose products demand is higher than supply.
Product Concepts
This is product orient concepts which don’t influence the consumers buying
decision. Here consumers prefer high quality product because the price is not very important
factors for them. Hence, the company needs to concentrate on high quality product and
continuous improvement to keep a certain group of consumers who afford to pay more. But
sometimes it became very expensive, and customer buy when they need them, it reduced the
company’s sales figures. The factors like the product price, availability, usability is driven by
certain group of consumers – company fail to full fill their needs. This is the drawback of this
concept. Example of product concept are as follows:
 This concept is suitable if the company is involved with technology industries like
smartphones, laptops, medical machinery etc.

5PGBM15 MARKETING MANAGEMENT ASSIGNMENT
 If the company has no strong competitor, then they can take advantage of monopoly
business.
Selling Concept
This Concept emphasis on attracting and influencing customers to purchase the
product by violent selling and advertising trick. It focuses on make the sale as much as
possible of the product not paying much attention to the quality and customers’ needs. Only
one aim to make money. This concept doesn’t bother to make a bond with customers, and
that’s why there is a less repeated sale. The main aim of selling is to convert goods into cash.
Hence selling can be productive only for a short period. This is a short-sighted philosophy
approach. Example:
 Companies have short-sighted profit goals. This indicates to marketing myopia.
 Fake companies make a profit and disappear from the market.
Marketing Concept
According to this concept, customer satisfaction is the main key to success of the
business. It is concerned with raising brand awareness among the consumer market. It
resembles towards making the use of the media platform and that of the social-media
channels to depict out the list of advantages that will be obtained with the consumption of the
product that is being offered. This concept is based on four factors, and these are –
1. Classify the target market.
2. Customers’ needs and wants to be understood in the selected market.
3. Product development and services to be done as the needs of target customers.
In this concept focusing on how to fulfil the needs of customers without disturbing the
environment, natural resources and humanity who are involved in the broad society. This
philosophy believes that the business is a part of the society and it should take part in the
social services like poverty control, illiteracy, controlling explosive population growth, the