Marketing Audit Report for Marks and Spencer

PJ1- Marketing audit report

Executive summary
The report below is based on marketing audit through which capability to analyse and
interpret current market situation and its attentiveness is processed in favourable manner. In this
Marks and Spencer is taken that is a retailing company with working in diverse range of product
and service. The company is one of the leading companies of UK that specialized in selling
clothing, home products, food products. The company was established in 1884 by Michael
Marks and Thomas Spencer in Leeds. M&S currently has 959 stores all across UK of which 615
sell food products, it also offers online food delivery service through Ocado. For this both macro
and micro analysis is conducted that is beneficiary to examine market changes and all the
relative possibility with this better profit is achieved within stipulated period of instance. In this
competitive analysis is conduced that provide better analysis about strategies and its mapping
and through which current market competency is analysed in prior manner.

Table of Contents
Contents
Executive summary..........................................................................................................................2
INTRODUCTION...........................................................................................................................1
Company/ brand background...........................................................................................................1
Macro analysis.................................................................................................................................2
Micro analysis..................................................................................................................................4
Competitive analysis........................................................................................................................5
SWOT analysis................................................................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Marketing audit is required to perform by an organisation in order to analyse and measure
the appropriate modification and alteration that is preceded within an organisation to attain
higher competitive advantage and long term sustainability. It is a comprehensive approach with
this both internal and external market gets analysed extended goals, principles, market
opportunities and areas for development (Chernev, 2020). The report below is based on Marks
and Spencer that is a multinational retail company of British origin. The company’s
headquarters are in London, England; founded in 1884 the company is known for selling home
products, food products and clothing brands mostly of its own label. The report below comprises
of macro and micro analysis along with competitive analysis and SWOT analysis.
Company/ brand background
Marks and Spencer started in open market with a stall in Leeds, Yorkshire. At that time
company was known as Mark’s Penny Bazaar,run by Michael Marks only selling household
goods, haberdashery, toys, and sheet-music. Marks were a Jewish refugee from Poland when he
started the business his sign reads “Don’t ask the price-it’s a penny.” In 1894 Thomas Spencer
joined as a business partner. In 1903 the partners were allocated with stall number 11 and 12 in
the centre aisle. The company becomes first British retailer by making a pre-tax profit of over £1
billion in the year 1998. From past few years its clothing sales has decreased although the food
sales has risen after axing the St. Michael moniker for the brand. In May 2018 it was confirmed
that more than 100 stores will be shut by 2022. It’s not confirmed yet if some other stores would
close.
Simon who was Michael’s son took the business to a level ahead as he launched company’s
St. Michael brand name which stayed popular for a decade. He also transformed the business
from open market in northern England to number of indoor shops. In the year 1988 the parent
branch Marks and Spencer Group PLC bought U.S. oldest retailer clothing brand, Brooks
Brothers but later in 2001 sold that division. By the time company operated in more than 300
retail outlets in United Kingdom known as “Marks and Spencer” plus in dozens of other
countries, including France, Germany, Spain Hong Kong. Within a decade the number of United
Kingdom shop went to more than double to around 700. Currently the company has 959 stores in
UK of which 615 only sell food products. The company is offering online food delivery service
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