Principles and practice of marketing - Marks & Spencer Assignment

Principles and
practice of
marketing

Table of Contents
INTORDUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
TASK 2 ...........................................................................................................................................6
TASK 3............................................................................................................................................8
CONCLUSION................................................................................................................................9
REFERNCES ................................................................................................................................10

INTORDUCTION
Marketing term refers to the activities that is undertaken by the company for promoting
the selling and buying products & services. Marketing practices and principles is a concept that
relates to the environment of the business where it describes the retailing, marketing language,
advertising, promotion etc. This present research is based on the Marks & Spencer is a
multinational retailer in UK where it is specialized for selling high quality of clothes. It is listed
in the stock exchange market of London. This report will study about the SOSTAC model
applied on the company and analysing the micro environment according to the situation and also
promotion, place and product of the tactics. Further, it will examine the needs that undertaken the
effectiveness of organization where the SOSTAC strategy used in UK. Moreover, it will describe
the current marketing strategy used by the organization and implemented in the international
markets (Ashworth, Kavaratzis and Warnaby, 2015).
TASK 1
Micro environment in situational analysis.
Micro environment involves all the factors which affected the strategy of business,
performance and decision-making process for moving the business in Indian market. There are
some factors which analyse the situation of the Marks & Spencer in Indian market which are as
follows;
Political factor:- India is one of the largest democracy country in the world where it runs
federal forms of the government. It easily influences the decision-making process of moving
Marks & Spencer in Indian market because the political environment of India is generally
influenced by the policies of government and also there are several ideologies of political parties.
It is one of the biggest step which taken by the Marks & Spencer to move the business in India
because the taxation system is fully developed such as income tax, sales tax, services tax that is
good for the Marks & Spencer to move the business. From having a stability in the political
environment helps the organization for getting settle down and also helps in making a powerful
market share.
Economic factor:- The economic environment of India is good for moving the Marks &
Spencer in India market because economy of India is stable where company get easily licensing
for set their business in the market of India (Chaffey, 2016). As per the economic policies of
India it gives reduction for the licensing of organization, liberalization for foreign capital & so

on. From having constant improvement in the Indian economy helps the business for take the
share of Indian market. It is very good for the Indian market that Marks & Spencer moving their
business here because the environment of business gives opportunity for investing. The trade
structure of India is a beneficial term for Marks & Spencer because it gives facility to transport
goods from one to another.
Social factor:- India having a gigantic market of customers with its total population.
India has huge market which is the biggest opportunity for the multinational companies and
Marks & Spencer as well. India offers so much cheap labour and also the labour forces reach to
160 to 170 million (Eastman, 2017). It is easy for Marks & Spencer to afford labour force at
very cheap price. Form this factor Marks & Spencer encourage to outsource their business to
operate in India. India determines so many religions, ethnic and lingual which is salutary for the
company for operating their business here. It has so much attractive market in so many sectors
and standard of living is gradually improving day by day which is good for Marks & Spencer to
gives a fashion statement in Indian market where people easily adopt it with new fashion trends.
Technological factor:- India is one of the most technology advanced country because it
is one of the country for outsourcing the company. It is an advantage for Marks & Spencer where
India gives and online shopping facility to their public, it gives E-Shopping, development of the
business strategies which is very much beneficial for Marks & Spencer because from that it
easily sale their product's and services to online and also gives huge variety of clothes and makes
the new fashion statements. It's easy for Marks & Spencer to advertise their brand in the market
and also make a share in Indian market. With so many advanced technology customers easily
aware about the Marks & Spencer brand. Technology factor easily helps in increasing sales and
revenues from providing so many facilities to their customers.
Environmental factor:- From last decades India growing and developing day by day
because of so many factors but there are so many challenges faced by India in the Environment
of India such as resources depletion, floods, pollution, biodiversity loss and diversion of
customers as well. From applying the SOSTAC model it gives a situation to make the product
according to the environment and also keep in mind that it does not harm the environment of
India (Evans and French, 2019). From having environmental challenges it is very difficult to
survive in the market of India. Marks & Spencer has to keep in mind that each and every product
is not harm the environment of India and their customers. It generally involves the growth and

operations of the business for surviving the business in the market. Environmental factors easily
influence the decision-making process of business for the growth and development of Marks &
Spencer.
Legal factor:- this factor of the PESTEL analysis on India that has so many legal aspect
for the customers and organization as well. India is one of the famous country for the foreign
direct investment. There are so many legal changes implemented in India which is good for
public and business environment as well (Furey and et.al., 2016, May ). There are several legal
factors such as minimum wages increasing, disability discrimination, recycling directly affect the
business. It generally covers all the legal frameworks, policies & law for operating the business.
One of the main primary objective for operating the business in Indian market is to productions
and selling of the goods and services has been done according to the needs, demands & wants of
the customers. It is important for Marks & Spencer to set their business with legal frameworks in
the Indian market.
Promotion, product and place for tactics
Promotion tactics:- there are several tactics has used by Marks and Spencer for moving
in the Indian market. Marketing tactics are one of the main strategic actions which promote the
products and services in the market and influence the specific goals of marketing. From using
several techniques for promotion of the products gives a share in the market and also gives a
position to the company in the new market. For moving the company in India it takes so many
tactics of promotion such as marketing of the company so everyone easily knows, advertising is
one of the powerful tactics, refocus and expand the advertising techniques, explore the
geographic services, gives priority according to the customers. Make clear each and everything is
done according to the budget of the company (hasan Bisri, Sudarmaningtyas and Wulandari,
2018).
Product tactics:- it is a tactic where the product is service which is provided by the
Marks & Spencer in the market of India. Products is a way to show the design and creation
which has done by the organization. Tactics used for marketing is a way to show the features and
benefits of the products and services. Marks & Spencer uses so many products tactics to launch
the product in the new market. It is necessary to make strategies for moving the business in new
market. SOSTAC model helps the business in moving and also identify the strategies for making
an position in the market. It is important to have strong products according to the new fashion

trends which helps the business in taking the position because customers always buy those
products which is latest and good quality in the comparison of others.
Place tactics:- it needs so much planning to move the business to another place. For the
place tactics it takes a visual inventory and also it considers that replacing the business with old
ones. For having the place tactics to move the Marks & Spencer it is significance to make and
create a schedule and timeline to make a position in the market. It plays a fundamental role in te
marketing strategy of the business where it is important for the company to place their products
at right market which is good for them (Koch and Benlian, 2015). From placing the product at
right place it tries to gain a competitive market share and also increase the purchase of
customers. Marks & Spencer has to choose a place in India where it launches their products and
services because from having and proper inventory of the market helps in raising the sales and
revenues of firm. It is a type of marketing strategy which identify the target market for targeting
the customers according to their needs and demands.
TASK 2
SOSTAC strategy currently used by UK.
SOSTAC strategy is used by Marks & Spencer for making the marketing plan and planning of
the business where it creates overall marketing & digital strategy of marketing to improve the
tactics of individual channels. It has some tools which describe the planning of business in
current market which has been follows;
Situational analysis:- Situational analysis of the Marks & Spencer which used in UK for
establishing the present performance of the company. It monitors the company and also gives a
report about the current position of marks & Spencer. It is one of the most important strategy
where all the desirable & current positions of the firm. It is a type of responsibility structure
where the internal sources, process & system to be taken in the account. In this all the strategies
is made according to the competition in the market. Marks & Spencer uses so many strategies for
identify their effective customers and it also analyses the current trends of market of the fashion
industry so that they make the clothes according to the customers wants. It gives and tough
competition to their competitors from following the current fashion trends in the market and also
improve the performance for achieving the good results (Mayer and Bert, 2017).
Objectives:- this is the vision and mission of the Marks & Spencer which is currently
used in UK. Marks and Spencer makes effective objectives to achieve the vision and mission of

company. It targets the market from giving proper satisfaction to the customers. It added value to
their products and services which is a wow factor for the customers and makes a good position in
UK market. These steps help the organization to engage with the customers in very effective
ways such as it sales current trends of fashion and better quality of products with good pricing
strategies. It gains so much competitive advantages from making effective objectives and gives
and tough competition to their competitors in UK.
Strategy:- This step of SOSTAC model is very much beneficial for Marks & Spencer
where it makes strategy to get the position with the market of UK. It comes after the objectives
has been made. Strategy is made according to the constantly changes in the demand and wants of
the customers in UK. Effective strategy easily attract customers to buy their products and also
gives them priority to fulfil their demands. Strategy is also made for having visibility ion the
process of selling the products in the market. Marks & Spencer using the strategy of targeting
market according to the customers where the customers like their products. Strategy of the
business helps in expending the business and helps in using several applications & locations as
well (Nagle, Hogan and Zale, 2016).
Tactics:- There are so many needs of using the several tools and techniques where all the
strategies has been taken place for making the products and services of better quality. It gives
promotion to the products in UK market which influence the customers to buy the products of
Marks & Spencer. Tactics are generally used for supporting the strategy of the Marks & Spencer
and it also helps in achieving the goals and objectives of the business. It sets all the activities
according the tactics used in the business for the growth and development of the business.
Action:- in this all the details and information of Tactics has used for taking the action
according to the planning of the strategies. When all the strategies has been made according to
the plans then it time to turn into operations where it takes action according to the strategies.
From effective and simple planning process it keeps out the needs and wants which needed the
business for their growth.
Control:-After implementing the plans it needs to monitor for identifying the key
performance of the Marks & Spencer. From monitoring each and every activity according to the
performance of the tactic of Marks & Spencer currently used in UK. it only identifies the person
who monitor all the strategies and activities according to the customers. After implementing all
the strategies and plans it's time to so survey of the market for taking feedback that customers are

satisfied or not. This is a powerful strategy for Marks & Spencer where it makes report according
to the feedbacks and surveys and take actions for future and improve it for satisfied the
customers (Palmatier and Crecelius, 2019).
TASK 3
Current strategy used by organization for new market.
There are several strategies which is implemented for focusing on moving to international
market by Marks & Spencer. It takes lots of efforts and things to moving the business in another
market. Marks & Spencer currently using different types of strategies to move in India. It applied
SOSTAC strategy that currently used it UK because it analyses the visionary inventory for future
and present focus of moving on. There are so many recommendations is required for moving in
another market because it is not enough to move on with these strategies. Marks & Spencer using
different strategies and techniques in different markets which easily attracts different types of
marketing strategies through SOSTAC model (Pizarro Milian, 2017).
It is a type of strategic move which taken by the Marks & Spencer increasing their sales
and revenues in another market. This can be positive and negative as well. From making an short
and long term goals helps in making a good brand image in the market. There are so many
strategies implemented for moving in the Indian market by the Marks & Spencer where first of
all it makes takes analyse and observe the Indian market for making the strategies and planning
accordingly. From visionary inventory it analysis that it is a tough competition move in India and
there are so many risks arises for launching the products and services in the market (Reim,
Parida and Örtqvist, 2015).
Marks and Spencer uses different types of tactics for making their brand powerful and
make a position in the market where it uses the promotional and advertising strategy to launch
their products in the market, it is the beast way to aware the customers towards the brand. There
are so many ways for advertising of the brand in India such as through new papers, television,
social media are the best ways to promote the company and move on focusing in the market. In
UK Marks & Spencer uses the strategies according to the market and customers where customers
purchase the products with high pricing but in India people are price conscious, and they think
twice before purchasing the high pricing products so it is important to keep in mind that the
strategy of pricing is according to customers of India where Marks & Spencer has to lower their
prices of products and gives the best quality and then according to time changes it when

customers used to it (Rowley, 2017). For starting of the Company it is important to provide
offers and discounts to the new customers. It is also important for the Marks & Spencer to
choose a place and target accordingly and done a market segmentation which is beneficial for the
company. Effective strategies and effective use of planning and time affect the customers
positively. It also significant to have an aim and objectives of the company to reach customers of
India and market as well. It helps in increasing the sales and productivity of the company.
According to the current marketing strategy used in UK and Marks & Spencer focusing to move
in India is way to make a position in International market and make a reputation on global level.
In India, it is important to take feedback from the customers so that changes has done according
to them and improve the products and services of Marks & Spencer (Ruychev, 2019).
It is necessary to have a strong criterion of market where customers can easily get their
purchase the products which they like. It also determines so many techniques that used by Marks
& Spencer where it understands the needs and demands of the customers according the current
fashion trends which is most important for increasing the brand value and add a wow factor in
the organization. There are several things which has been focused by the Marks & Spencer to
reach at this level such as for increasing the brand values, positively respond on the feedbacks of
customers, giving them priority, understand the needs and wants etc (Serrat, 2017).
CONCLUSION
Marketing term refers to the activities that is undertaken by the company for promoting
the selling and buying products & services. Marketing practices and principles is a concept that
relates to the environment of the business where it describes the retailing, marketing language,
advertising, promotion etc. This report will conclude the micro environment for the situational
analysis in for focusing on moving the company in international market and promotion, place
and products tactics used by the organization. Further, it will conclude the effective SOSTAC
strategy currently used in UK market and also implemented in the new market where the
company focus for moving on. Moreover, it will conclude several marketing practices and
principles used by the organization to focus on the moving in international market.

REFERNCES
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Ruychev, K., 2019. Application of the SOSTAC model to the marketing strategy used by NEXT
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Serrat, O., 2017. The future of social marketing. In Knowledge solutions (pp. 119-128). Springer,
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