M&S Marketing Strategy and Innovation

This assignment examines the marketing strategies employed by Marks & Spencer (M&S), particularly emphasizing their approach to innovation within existing product lines and exploring new market segments. The analysis delves into the effectiveness of pitching processes for securing agencies and generating creative ideas. Additionally, it evaluates negotiation tactics M&S can utilize to establish mutually beneficial partnerships with advertising agencies. Finally, the assignment identifies potential challenges associated with implementing these strategies.

PITCHING AND
NEGOTIATION

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P.1 What is negotiation, why it occurs and who are the key stakeholders are during a
negotiation process......................................................................................................................1
P.2 Evaluate the key steps and information required for negotiating and generating deals......2
TASK 2............................................................................................................................................4
P.3. Apply the RFP process within M&S organisation context and they key documentation
required and consequences of breaching the terms.....................................................................4
P.4 Explaining the competitive tendering and contractual process and relevancy of
documentation is managed and monitored..................................................................................6
TASK 3............................................................................................................................................7
P.5 Explaining the pitch process in M&S, evaluating ways that leads in increasing chances of
successful pitch ..........................................................................................................................7
TASK 4............................................................................................................................................7
P.6 Potential outcomes of a Pitch................................................................................................7
P.7. Determine the ways by which M&S can fulfil their obligation form pitch, determining
potential issues that can happen..................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Pitching and negotiation one of the crucial part for each organisation. In the report,
negotiation process will be discussed on the organisational context in terms of resolving their
disputers which incurs within business environment. The present report will be in context of
M&S organisation which is one of the largest UK based retail company. RPF process can be
adopted by its professionals in context of approaching other companies to supporting its business
functionalities to attaining desired goals and objectives of firm. Beside from it, the assignment
will be discussed about appropriate pitch applying key principles that accomplish a sustainable
competitive side and assessment of the possible outcomes of different pitch process.
TASK 1
P.1 What is negotiation, why it occurs and who are the key stakeholders are during a negotiation
process
Negotiation: Negotiation is a method by which people settle down differences. It is a
activity in which agrees or argument is reached while ignoring disputation and resistance. Tow
and more parties gathered to making argument on a disputable topic to settle out them by
negotiation process. In any situation, there are numbers of negotiation forms are being used ion
several types of situations. In the negotiation process (Badger, 2016). The principles of fir
treating, seeking mutual benefits and maintaining a relationship are the keys to effectiveness of
outcomes of the firm. It contains a specific types of terminology on which tow and more parties
can effectively address their issues and disputable situations. As per given case, Mark & Spence
company, the negotiation has been obtained between manager and with its personal assistance on
issues related to salary 10% rather than of 5%. It has examined that, negotiation occurs between
two and more parties, on such a situation in which, all parties are not agreed upon a common
topic. Both parties have their different-different view points on particular topic which allow them
to having a disputable situation.
The key stakeholders during negotiation process: During negotiation process are being
executed its process can be involved some essential stakeholders which can help them to
implementation of negotiation process at workplace in respective manner. According to give
case, it is required to having negotiation process in the complex circumstances to resolving their
current issues which occurred during discussion on raising the salary for year around 10% for tp
performer of the company (Cremades, 2016). So in this case, several stakeholders are needed to
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be involved to make out clear the way of gaining better outcomes of salary issues in the business.
In order to resolving the given situations, the manager of store also require to involvement of
human resource department of company to reaching out to correct outcomes and gaining more
suggestion from them to arriving at fair outcomes of discussion. So in given case, store manager
and his personal assistance are arguing on raise up in salary at annual basis. She was worth it,
this posed the managers with a authentic difficulty because the average growth in salary for that
year was 5% for top performers of the company.
In the given case, negotiation process involves there are three major key stakeholders
which is company's store manager, human resource department and his personal assistance. With
the help of negotiation process, both parties are making discussion on front of HR professionals
of company and made a clear decision to settle out the given disputable situations (Dunne and
McKeon, 2015). A settlement was reached by agreeing on 6 % rise for three months and then an
extra; 2 to 4 percent later if the new duty were adequately performed within business store. This
is an approach of a negotiation on the in which both emerged with a win-win situation and smiles
all around. During the negotiation process, several types of stakeholders are involves which help
them to resolving critical situation of the business problems. With the help of this approach,
manager of store can reach out to expected outcomes of the discussion.
P.2 Evaluate the key steps and information required for negotiating and generating deals
In order to execution of negotiation process, there are following steps can be utilised by
organisation in order to address bitterly conflict situation among various department or
employees of the mark and Spencer company.
Preparation: Before take negotiation process, a conclusion required to be taken as to
when and where a meeting will take place in order to talk about the trouble and who will see this
situation at workplace. Respective procedures are being followed by its professionals in order to
serve their quality of time investing time on conducting court procedures (Faff, 2015). So before
taking places of the above given step, all relevant documentation and evidences related to
disputable situation can assist them to execution of preparation step of negotiation procedure. A
major struggle of interest exists between both parties. All parties feel that the negotiation will
lead to a improved outcomes. So preparation process refer to arrangement of all resources which
must be associated with conflict situations. In the given case, M&S departmental store manager
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and his personal assistance must require to arranging all appropriate resources and evidences
which support them to present their facts strongly.
Discussion: After collection of all relevant information and also completion of all
preparation, the process further refer to discussion procedures which require to presenting of all
members which is related to conflict situation. Setting up a restricted time scale can also be
assistive the disagreement continuing (Faff, 2016). In this step, al members are offered to review
their view points and all the parties facts of difficulty are known in order to explain their issues
in the given situation. According to case study, human resource department of the company is
required to present their view on the conflict situations. After discussion, the settlement was
reached to agree on 6% rise for three months and addition will implement later on.
Clarifying goals: In this stage, both parties require to cleaning issues and last objectives
of each party in process of negotiation. From the above discussion on disputable situation of both
parties. Store manager and his personal assistance is tended to present their view points of both
part of the discrepancy needed to be explained. They are required to present their personal issues
and views on presented situations, so that both parties goals and objectives can be meat
effectively. Store manager has goals to increase salary of personal assistance by 5 % proportion
as per company's policy. She is demanding for raise up salary 10 % annual basis to reaching out
beneficial outcomes of give circumstances.
Negotiation towards a win-win outcome: In this stage, the stage concentrate on the terms
of win-win outcomes of both side which feel that, they have gained a effective outcomes by
adopting negotiation process at workplace (Faff, Godfrey and Teng, 2016). Both parties
benefited from the varied range of activity. They discussed the raise itself. A settlement was
reached by agreeing on a 6% for next three months and then addition increment will be occurred
later after if new responsibilities were adequately performed. Both parties have been settle down
on this situation.
Agreement: After having proper discussion on given situation, store manager and his
personal assistance can make an effective agreement which help them to attain desired goals and
objectives. Agreement can be achieved once knowing of both sides, viewpoints and interests
have been reasoned (Genovese, 2014). The outcomes must be fair and acceptable for each one of
them who are associated with conflict situations. Store manager and his personal assistance has
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reached out to agreement needs to be made perfectly. So agreement made between both parties
must be fair. So they will be able to satisfy with outcomes of negotiation process.
Implement course of action: A broad discussion has been made between store manager
and his personal assistance to considering all issues which is facing by manager and PA as well.
Manager has observed that, his PA encountered heavily traffic every evening on the way home.
They agreed to have her works from 7 :30 Am to 4 :30 PM. This saves her at least 20-25 minutes
of driving times.
For example, Tender: Tender notice
Contract: Fixed contract, written contract, oral contract and implied contract.
Apart from this, when a contract is signed it means that both parties are agreed and ready
to work accordingly. While on the other side, in a tender a person only invites or offer to another
person.
TASK 2
P.3. Apply the RFP process within M&S organisation context and they key documentation
required and consequences of breaching the terms
Request for proposal(RPF): Asking for proposal are used where the request required for
technical expertise, or where the product and services being requested does not yet exist and the
proposal many required to research and development to create whatever is being requested. This
is an effective process which is utilised by most of the companies to do business. Inform
suppliers that an organisation is looking to in order to secure and promote them to make their
high-grade attempt. In order to completion of specific types of projection of business,
organisation often request to another organisation to assisting them to enhance health and wealth
of the organisation in industry (Horton, 2016). In case of M&S company its professionals are
required to be taken into account to request of proposal prospect by which organisation can
approaches other same sector companies to helping them to completion of their various types of
projection in industry. In terms of retails sector, collaboration working is necessary part for
companies to helping other organisations to completion of their specific types of projection
implementation courses. It allows organisation for wide distribution and response of the
company in order to generate highly effectiveness in industry by making implementation of the
procedure. With the help of these techniques, institution can place bids for the completion of a
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task. It outlines the biding method and contract terms, and providing direction on how the bid
should be formatted and bestowed. Request for proposal for a special may need the company to
critique the bids to not only analyse their feasibility but also the well-being of the institution. In
this context, M&S organisation may comply with other retail organisation in UK retail industry
to completion of their projection in industry as per desired success. Request for proposal can be
adopted by its professionals to taken into account to enhance business expansion methodologies
to comply with proposal requests. The organisation many comply with Morrisons retail
organisation to request for proposal to having use of monetary help and departmental help to
enhancement of their business sector within retail industry (Jantzen, Taira, Granlund and Ol,
2014). The complexness of a project may upshot in the demand for a formal request for proposal,
the organisation many gain advantages from several types of bidders and perspectives when
seeking an integrated solution from multiple suppliers. In case of increment in capital and
distribution channel in the business, the business need to approach Morrison organisation in
order to contribute into M&S organisation to raise up their distribution channels and capital of
business.
Documentation required:
 In order to creating a request for proposal, agency written request, to use the RPF
process, if approved, follow steps below.
 Vendors list who has suggested in the process to building a request for proposal for
organisation.
 Mandatory pre-biding attendee list , if applicable any.
 Organisation last 3 year balance sheet must be included into the agency for processing
by company RPF process. It is also an evidence of companies capitalisation (Keinonen,
2016).
 Appropriate proportion of profitability also must be added up into the documentation of
RPF method. It must be reviewed about share part of associated organisations.
 All government rules and legal regulation documentation must be considered within
projection tasks of this process in order to completion of its process smoothly.
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P.4 Explaining the competitive tendering and contractual process and relevancy of
documentation is managed and monitored
The competitive tendering: This is one of the effective method which is being utilised by
government and private sector organisations in the UK. Competitive tendering inclusion of
purchasing organisation advertising its interest to acquire facilities or suppliers and request to
respond to compete the opportunities to attaining desired goals and objectives of the business.
According to the tendering process, organisation can approach its existing or new suppliers in the
companies to win the right to run retail services in the marketplace. In this context, M&S
organisation can comply with its existing suppliers in the current marketplace in order to
completion of various business projection. Tender proposal may be given by organisation to its
existing suppliers in terms of execution of desired projection and attain expected sales of its
production.
The contractual process: The process refer to establishment of business practices by
undertaking the contractual projection of various parties. In order to enter into a contractual
procedure. The performance level in the systematic manner to attain main objectives of contract
process is to make sure that each party fulfilling their roles and responsibilities in the most
effective manner. In context of M&S organisation, it being necessary for company to enter into a
contact with several local and medium size retail organisation to promoting their business
practices in industry efficiently (Jiang and Leland, 2014). As per request of proposal technique,
M&S organisation can enter into a contact with Morrisons organisation to promoting and
advertising their business practices in UK country's industrial sector. So for this purpose, the
company can make a contract to using of their all resources and expertises to helping each other
to completion of several types of business tasks. With the help of collaboration working as per
contractual process, they can establish new retail stores in existing and new marketplace in order
to attain desired business aim and objectives of firm. So both company's professionals are
required to gather appropriate information and data which enables them to enter into a contract.
As per norms of contractual process, there are numbers of documentations are required to
collected by organisations to enter into a contract. To opening up new business, both
organisations' management department require using of negotiation approaches in order to reach
out to desired outcomes of the businesses. Both parties obligations would be distributed among
them in order to generating sufficient amount of success at workplace.
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Relevant documentation: In order to enter into competitive trending and contractual
process, several types of documentations are required to be collected by organisational
professionals in terms of having strategy of request of proposal creation within business
environment. In order to completion of contracting packages, proposal will include some
essential packages such as, Budgeting sheets of organisation which is formulated for specific
time period (Mackowski and Williamson, 2015). Payment schedule and statement of works are
needed to be submitted, project planing and implementation documentation, procurement,
current market studies for formation of business contract. Apart from it, both business required to
have mentioned the fine information and signed contract and amendment proposal
documentation to getting enter into a contract. So in context of contract between M&S and
Morrisons organisations, above mentioned contracts are required to be collected and add up I
documentation list of contractual proposal.
Recommendation for completing a successful tender with minimal risk:
From the above discussion, it is recommended that, M&S and Morrisons both
organisations are required to use competitive tendering approach in order to enter into a contract
among them. Tendering approach enables organisational professionals in context of utilisation of
appropriate financial resources and expertises to reducing market and operating risk of business
(Manso and Nikas, 2016). In order to implication of tendering approach, administration
department of both companies can establish suppliers channels in marketplace by offering tender
approaches upon local and medium size retailers which is already running within existing
marketplace.
TASK 3
P.5 Explaining the pitch process in M&S, evaluating ways that leads in increasing chances of
successful pitch
Enclosed in PPT
TASK 4
P.6 Potential outcomes of a Pitch
Prepare for success: Pitch process bring the organisation towards the ways through
which organisation can access their desired areas and section in which they can gain potential
success. In case of M&S organisation, its professionals require using of potential pitch
approaches to attaining desired organisational goals and objectives. To find out new ideas and
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thoughts to raising up valuation of existing business in industry, various types of preparations are
needed to be taken by business administration to gaining successful ideas within the business
environment. Appropriate pitching process may introduce new products and services within
existing product line which convey high demand value in marketplace.
Work at the relationship: Pitching process defines to working collaboratively to attaining
desired success within existing core business product line. Making relationship with advertising
agencies and existing employees of business, they can effectively interact with customers to
understand their needs and establishment of better relationship with each other to gaining desired
goals and objectives (Sterchi and Miller, Nintendo Co Ltd, 2016). In order to establishing better
relationship with their existing customer and agencies can assist them to selection of new ideas
and find out the best solution of contemporary issues of the business. Thus, working with
relationship at workplace can make families its members to select innovative products and
services that can bring out benefits for the organisation to attain their desired goals and
objectives.
Business expansion: A creative pitch can assist M&S organisational professionals to find
out innovative techniques and mechanism to generating effective ideas by which organisation
can attain their desired vision and mission of the organisation. Adopting creative pitching ideas
can assist business manager to find out appropriate values for the organisation in terms of
generating highly efficient success at workplace (Tran and Kim, 2015). Numbers of techniques
can be adopted by its professionals in terms of figure out the ways that can help them to enhance
business criteria of the organisation.
Suggest ways In which M&S organisation can complete their post-pitching obligation:
As per current demands and necessity of existing products and services in retail sector is
necessary to be considered to gaining expected success within the business environment. In this
context, post-pitching process assists business professionals to figure out the new ways by which
organisation can attain expected success within industry.
P.7. Determine the ways by which M&S can fulfil their obligation form pitch, determining
potential issues that can happen
Numbers of pitching mechanism can be adopted by M&S organisation in order to
fulfilment of their desired obligation in industry. In this context, variety of retail companies are
operating in the industry to maintain their facilities offering in marketplace. Adding up
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innovation within its existing products line and find out new market segment can provide
essential values for the business to gaining desired and expected issues within the current
marketplace (Tse and Wright, 2014). So its professionals are required to implementation of post-
pitch and creative pitch approaches in order to identify the right path that can be adopted by its
professionals in terms of generating sufficient amount of profitability level. Beside from it,
implementation of creativity within existing business process of the organisation can bring out
the appropriate values for the firm by which they can attain their expected and targeted goals and
objectives in industry. In today's world, implementation of innovation has become one of the
popular approach to enhance business criteria to fulfilment of their business obligation.
Creativity with innovation can provide significant values for organisation to figure out essential
terms of the company to attaining business objectives and terms in industry which must need to
maintain by its professionals.
M&S organisation is required to implementation of creative approach that can help them
to raising values to find out the best values to fulfilling customer response in impressive ways
(Tse, 2014). Apart from it, they need to add up more product lines as per customer demand and
trending products also need to be added into core selling retail products of the organisation
which enables them to reaching out targeted goals and objectives of business.
Potential issues:
 In case of implementation of pitching process, selection of new product line and
adoption of innovation within existing products were difficult task for the business to
attain business objectives.
 Selection of appropriate agencies for advertising practices of the business also were
difficult work for firm in order to reaching out expected business growth in industry.
 Implementation of pitching process were also competitive challenges and it was also
one of the crucial issues for the business to attain business objectives (Woodard,
Tunnls LLC, 2015).
CONCLUSION
From the entire investigation, it can be concluded that, negotiation is one of the effective
approach that can be utilised by each organisation in terms of addressing their potential issues
and disputable situation of the business. Respective procedures and guidelines can be adopted by
its stakeholders to execution of proper process of negotiation. RPF process can be adopted by
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M&S organisation to completion of its various complex business projection and approach other
companies to helping them to enhance business criteria. In addition, pitching process can be
applied by M&S organisation in context of determine appropriate agencies and ideas which can
help them to attain business objectives within industry.
REFERENCES
Books and Journals
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