Segmentation, Targeting and Positioning in Sales and Marketing

This report discusses the concepts of segmentation, targeting and positioning in sales and marketing, with a focus on Marks and Spencer. It explores the importance of innovation in new product and service design and how it aligns with the organization's strategy. The report also examines the target group within the organization and provides viable solutions to meet their specific needs.

Report

Table of Contents
INTRODUCTION...........................................................................................................................1
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INTRODUCTION
Sales and marketing is one of the crucial part of organisation which will lead to have major
affect over functioning of business. It is very important for company to successfully and
effectively conducting sales or marketing practices in order to accomplish desired goals and
objectives. Marketing and sales practices of business will assist in attracting more customers
towards company as well as help in developing strong relationship with potential customers. It is
crucial for organisation to consider new and innovative technology while providing its services
and products to customers as this will help in meeting with the demand of customers. This report
is based on Marks and Spencer company. This is one of the leading company in retail market
area and providing high quality products and services in order to meet with the demand of
customers. Marks and Spencer is British multinational company which is offering fashionable
clothing, footwear and other products to different market area. This organisation was established
by Michael Marks and Thomas Spencer. It was developed in year 1884 and head office of this
organisation is located at London, England, UK. This report includes concept about
segmentation, targeting and positioning. In this report, innovation in new products and services
for meeting customers’ needs has been determined. It consists of framework for business in order
to create solution to target customer needs has been analysed. Apart from this, role of data in
improving relationship marketing.
MAIN BODY
a) The concepts of segmentation, targeting and positioning specific to a product or service.
Segmentation, targeting and positioning is essential for organisation in order to offer
products and services to potential customers. This is one of the essential concept that assist
company in successfully and effectively conducting business practices. This can be describe as
the process through which company will be able to determine the behaviour of customers and
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provided accurate products and services in order to meet with their demand. Customer behaviour
is refer as the way in which potential customers of Marks and Spencer company is responding
towards the offering of organisation. This assist in taking correct and accurate decision for
successfully conducting business practices as well as attaining desired goals and objective of
business. segmentation, targeting and position will help respective company in correctly
conducting marketing practices as well as influencing customers towards the products and
services offered by organisation. This approach is consider by Marks and Spencer company in
order to identify the most valuable marketing segment for business profitability as well as help in
analysing different ways in order to sell more products and services to targeted customer and
market area. Through this respective company will be able to properly segment market area,
target best and potential customers base as well as position business offering in more creative
manner. Segmentation, targeting and positioning includes various aspects that is very important
for respective company as well as assist in providing correct direction in order to meet with the
needs and wants of customers. Segmentation, targeting and positioning in context of Marks and
Spencer products or services is mention below in detail –
Market segmentation – This can be consider as the first and basis step of organisation in
order to analyse the different segments in market area. This is crucial in order to take correct
marketing decision by analysing the needs and wants of different market segment as well as
assist in taking better decision. Market segmentation can be describe as the the way toward
separating organisation crowd or market area into more diffident gatherings dependent on
specific attributes. This cycle of dividing large customer base into small parts permits company
to gather individual crowd member into similar gatherings so Marks and Spencer can more
readily convey business items, highlights, and advantages that might be generally pertinent to
them. This is significant ways through which respective company will be able to divide large
customer base into small parts as per their needs and wants. This assist in taking better decision
for selecting correct market area which have more demand or requirement of products and
services offered by Marks and Spencer company. Segmentation is classified into different parts
which are mention below in detail –
 Demographics – This include personal attributes of customers such as age, marital status,
gender group, education, occupation and various other aspects. This assist respective
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company is taking correct decision for selecting the potential market area for providing
Marks and Spencer offering to customer.
 Psychographics – This consist of different attributes of customers such as personality,
values, lifestyle, risk aversion and so on. According to these psychographic attributes of
the person, customer will take decision to purchase products and services of company.
 Geographic – This market segmentation includes the region, country, city, state or
neighbourhood according to which organisation will take decision for providing products
and services to customer. Geographic characteristic of a person or customers will lead to
have major impact over their purchasing decision.
 Behavioural – This refer as the how people use products and services offered by
company. It consist of loyalty of customers, benefits gained by customers through
products and services. The behaviour of customers regarding respective company
offering is the major aspects for selecting market segment.
Market targeting – Once company has evaluated and analysed different market segment it is
crucial to select the most effective and accurate market segement in order to products products
and service to customers. market targeting is performed by respective company on the basis of
analysing demand of organisation products and services in market area. Targeting can be
consider as the select of potential market area or customer base form large group of people. It is
crucial that company choose which segment is more effective to focusing or targeting with
business marketing and advertising practices. In order to take decision of targeting customers
respect company should consider some question or inquiries about each segment such as would it
return enough benefits if the portion were to change over or not. It takes a lots of work to
effectively focus on a segment of organisation crowd. Regardless of whether you've
distinguished two portions or ten, don't want to target more than one section immediately.
Additionally — focusing on each in turn will help you better position organisation advertising
for every particular fragment much better. In order to select the most effective or correct target
market, it is essential for Marks and Spencer to consider different aspects such as criteria size,
money, accessible and various other factors. This assist respective company in taking correct or
accurate decision that will assist in targeting potential market area as well as offering products
and services to customers base which will help in increase sales and profitability of business.
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target marketing will lead to have major impact on overall sales of business so this is consider is
one of the crucial decision for business.
Product positioning – Positioning can be describe as the last step or element for STP
process. It is crucial for company to position market area in effective or creative manner in order
to attract more and more customers towards business. Positioning can be describe as they way
through which respective company is creating image in customer mind regarding products and
services offered by organisation. Positioning of products and services will help in influence more
and more customers toward company This data is critical to characterizing business image and
seeing how it piles up close to organisation rivals. One approach to comprehend where you,
indeed, stand is by building a positioning map, which is the visual plotting of specific brands
against axes, where every axis represents to a quality that is known to drive brand selection. In
order to correctly position business products and services in target customers, it is crucial for
respective company to analyse different aspects regarding products and services of company as
well as expectation of customers form organisation. This will help in creating strong and positive
image about company and its offerings in customer mind. Through this organisation will be able
to gain competitive edge over other rival company.
Thus, Marks and Spencer company is segment is customers on the basis of demographic and
psychological segment. This organisation is providing high quality and fashionable products to
customers. So respective company is targeting market segment that have potential to purchase
products and services of Marks and Spencer as well as lifestyle of customers. This company is
positioning its products and services by creating positive image in customer mind regarding its
products. Marks and Spencer tagline or brand slogan is Spend it well, as it looks to celebrate the
lives of its customers in new and innovative way. This is effective for creating positive image
regarding offerings of respective company.
b) Create a rationale for innovation in a new product and/or service design for organisation
chosen product/service in meeting the needs of customers in line with organisation chosen
organisation’s strategy.
Innovation can be describe as the practices of business for consider new technology or
techniques in business in order to create unique products and services. it is essential for
organisation to consider new and advance innovation in its products and services so that
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organisation is able to meet with the demand or requirements of customers. Marks and Spencer
company is dealing in highly competitive environment that which will lead to have major impact
over its performance and productivity. In order to gain competitive edge over other rival
companies Marks and Spencer company needs to consider innovation in its products and services
so that respective organisation is able to meet with the needs of customers. Development or
innovation is about separation from the other business. It's about business development. It's
single direction to draw nearer to company clients than organisation opposition, so organisation
can serve them better and keep them longer – and increment their incentive to you
simultaneously. Those that are best at driving client confronting development are those that
really take a gander at their organizations from an external perspective in or through the eyes of
their clients. This is one explanation client experience devices, for example, client venture maps
and ethnographic examination have been pushed from the back rear entryways of client
experience counselling firms to the corporate method around the world.
Marks and Spencer company is dealing in retail sector and it is providing different types
of fashionable products and services to customers. Innovation in products and services will lead
to have positive impact on business as well as help in gaining advantage over other rival
companies. It is crucial that respective company is considering innovation so that it can provide
new and unique products. Today, organisation clients need items and administrations to be so
natural and instinctive to utilize that they don't need directions or calls to help, substantially less
the need to change the manners in which they think, work or communicate with innovation as of
now. By really getting them, marketer realize what they need tomorrow, as well. To separate and
contend in the years ahead, organisation needs to discover better approaches to blend and match
across ventures, fragments, innovations to give these sorts of encounters, to get you closer to
company clients and produce more noteworthy commitment and dependability while driving,
obviously, to practical benefits.
c) Target group within the framework of organisation chosen business and create viable
solutions that would appropriately that specific target customers’ needs.
The target group chosen is female under the age of 35 years within the organization Marks
and Spenser. Imprints and Spencer's (M&S) has broken down into three types of apparel which
are Accessible Perfect and Classic, Autograph Access and Per Una. Each cover was created for a
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customer from another target segment of the women's clothing market. Imprints and Spencer
should distinguish between what their client wants and making things better. Delegates will
generally provide a review of items and administrations based on their judgment to analyze
value, quality, promotions, values, and pre- and post-administration administrations with
competitors to determine which brand they prefer. . Imprints and Spencer use the split section to
differentiate what their client wants. Imprint and Spencer target their clients based on age,
gender, salary, social class and so on. This is because customers are constantly changing their
needs and requirements. So Marks and Spencer should know this is going to happen.
1. Customer needs
Customer needs are to satisfy customer opinions or customer needs and requirements. We
need to perform statistical analysis to determine customer preferences and identify emerging
openings (Or creator, 2011). Factors can influence users' needs and requirements, such as value,
area, plan, culture and others.
2. Large and classic areas
The Perfect and Classic courses aim to serve Marks and Spencer's key customers. Imprints
and Spencer Center clients target people between the ages of 35 and 55. An amazing mix of
outfits is planned in a simple way and includes simple white shirts, dark sweaters with a foam
neck and trousers. The dress should be machine washable, not iron and tumble dry is good for
busy customers. These reach customers who are looking for action appreciation, excellent
quality, and motivation to reasonable respect. Also, the plan should be out of date, which means
the plan is not out of date now and then. The Classic Collection was aimed at more advanced
customers and usually comes in a number of styles, for example, a relaxed, rich and confident
style for their customers. The plans for these milestones are limited and will ensure that
customers get their reasonable clothes.
2.1 Age and gender
A brilliant and classic area at Marks and Spencer, their Downtown clients target people
under the age of 33. Imprints and Spencer should conclude that these are reaching customers at
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what age and age, gender they have before clothing is designed. This is because it is easier for
the creator to design the costume.
2.2 Income and social class
Salary and social class can reflect customer buying behaviour. As the saying goes, perfect
and Classic reaches out to customers who do not have the high pay and social class. After all,
they needed pragmatic appreciation, excellent quality and encouragement at reasonable values.
Imprints and Spencer should be as per the desire of the clients.
3. Range of signatures
The Autograph range was launched in the spring and summer of 2000 and is another
occasional course. This reach is the plan to bring a larger crowd in front of a new era. These
performance plans were finalized by Julien MacDonald, Philip Treacy and Sonja Nuttall, who
are the lead registered creators at Marks and Spencer. This floor was built of a wide range of
fabrics, plus people. Offering a more exclusive range of clothing for the Marks and Spencer
center market. The Signature range offers a selection of top creators for sale to the public and
Spencer customers at a high cost, within the feel of a design store. Be that as it may, in the
exclusive range limited to the spring and summer range with only 60 tons of style per season.
The signature range offers something like casual or rich clothing. For example, elegant clothes
can work or buy.
3.1 Income and social class
As we know for sure, items from the Marks and Spencer Autograph range are more
expensive. Their customers are desperate to spend their money on unusual things. He confirmed
that customers of the Autograph range have a large league salary and a high social class.
4. For range
The Per Una range was launched on September 28, 2001. The target audience in the Per
Una range were design-conscious women between the ages of 25 to 35, sizes 8-18. This range
offers excellent products and the plan tops are the latest models. In addition, the For Una range
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products have been sold in a limited edition, which makes the items look unique. In addition, the
costs were 10% more expensive than the various Marks and Spencer ranges.
4.1 Age and gender
By age and gender in the reach of Per Una, Marks and Spencer are their target customers
below the maturity range of 25 to 35, planning a sensitive young man. Around this, women like
to shop for fashion or style clothes especially the limited edition as it is actually one of a kind
and with very little attention. Like these lines, designers Marks and Spencer should differentiate
their ages to design limited edition clothing for customers.
4.2 Income and social class
In the new era, most young women have had the opportunity to show off their wealth or
social status. The Per Una range is perfect for women who like to shop for elegant or designer
clothes that are released especially to reflect their social level and how wealthy they are.
Recognized identification and clarification of fields of application and qualifications
At Marks and Spencer, they are as confident of the winners of their applications as their
entry certificate. Imprints and Spencer is widely regarded as the UK's leading retailer,
application winner and application guarantor for all access. This can lead viewers to see that the
kits created by Marks and Spencer are of a high standard and the costs are highly at the
discretion of the customers. At Marks and Spencer, each access garment has unique application
winners and will require certification to target different UK customers.
d) Comprehensive evaluation of the role of data in improving relationship marketing within
organisation chosen business. You must also evaluate how the role of data improves the target
customer’s expectations and level of service provided
In-depth intelligence analysis refers to a broad collection of intelligence and innovation
gathered from different places and allows a company to gain an advantage over its opponents
through the application of modernizing the business.
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BDA as a strategy for decision making and implementation of measures that have
expanded from very large data to funding dynamics. BDA has a number of tools to analyze
associations of information obtained from internal and external sources to identify generous
examples. BDA is a representative value provider that many companies do not agree to help with
the dynamic cycle. A great informant expects skill in finding hints and creating instincts.
Incorporate BDA Performance Appropriate Logic Tools Required for Analysis The BDA is
subject to the most up-to-date methodological strategies to address business disadvantages,
previously or -practical for lack of scientific information or tools.
Information that the council verifies effectively and efficiently, with the help of the use of
very large amounts of information and monitoring strategies A variety of writing signs suggest
the way in which use of very large scale information, its preparation and analysis, more
specifically encourage associations to create information for operators. Before you know how
this big information is turned into information, it needs to be further evaluated. It covers the use,
analysis and beneficial use of information and data, and contains clear and unambiguous
information. To create more quality in any part of their business, BD can help societies, and if a
society intends to bring scientific experiences into a lot of information, ABD innovation can
remove business slant from information to improve ranking performance. In-depth applications
of big data extract important data (coordinates or constructs) that influence the industry to
become aware of patterns. Some specific information is generated by incorporating this data into
industry analyzes to verify the information through the analysis conducted by information
analysts. Such experiences provide better experiences in combining big data and board
information.
The aim of this research study is to provide recognized evidence of the similarities and
collaborations between the emerging field of big data analysis and the highly sustainable field of
information. Developing end-to-end capability by monitoring accessible information resources is
the key motivation behind the experience of information officers. Today, one of the fundamental
factors in performance is the authoritative ability to transform information and data for
information-based dynamics in all areas. Businesses can create information using BDA. So, to
gain the upper hand, improve authoritative performance, and capture more parts of the industry
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as a whole, the ultimate goal is to make information more hierarchical by implementing the
ABDA. Big data analysis can be used to generate new information and find hidden information
for better dynamics that require better hierarchical performance. Big data analysts can provide
better information to operators, which leads to efficient business.
Associations are gatherings of individuals who work together for specific purposes.
Whatever their motivation, they are a social picture, loaded with aspiring individuals. The
normal distribution of human strength, energy sources and the imagination that society can use.
They structure relationships among themselves and with suppliers, customers and consumers.
These connections have important consequences. These social cadres interact with their current
situation, buying or renting, buying, selling or administering. If they are a business association,
they must meet the financial prerequisites for their authors or financial institutions that can bid
for their bids.
A growing number of companies are moving beyond the usual limits of striving to
understand the impact of climate change on their industry, big data is growing. Online media
channels, sites, programmed workplace controls and advanced mechanisms create a wealth of
organized, unstructured and semi-organized information. Advanced work that relies on big data
is the task of putting all sorts of things that are separated and distributed on a regular basis and
creating effort-specific information.
To make good business sense, the data should be used confidently. In business dynamics,
the various sources of essential and optional information that can be used are understood. It also
allows you to create methods that can be used in comparison to collecting information, such as
archiving and powerful tools that you can find to make your work very popular. Similarly,
business dynamics encourages the use of various programming packages such as Microsoft
Word, Power Point and Excel to complete commissions. Big data needs a lot of progress to
manage a lot of information within an average amount of time. A / B test, public support,
information combination and union, hereditary calculation, artificial intelligence, character
language management, signal preparation, reproduction, analysis and understanding of time
order.
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Big data allows business associations to find and analyze covert relationships and use this
information for execution progress to promote business results and monitor risk now and in the
future. Big data means rebuilding the partnership for a vibrant and sustainable business
organization and driving business in a manner similar to developing corporate revenue,
delivering progress in letter measurement and value-based efficiency. Facebook, Foursqaure,
Google, IBM, Netflix, Twitter, Yahoo and many other associations are becoming a reality.
This gave me the time to create different strategies in social relationship, ignore and
understand tools that are quickly accessible to create and import valuable business data to help
dynamically / so that business choices can be made. The points and objectives of this report
provide an understanding of a number of areas important for gathering essential and useful
information, using a number of strategies to proactively analyze information for these purposes.
purposes for groups, generating data in a series of configurations appropriate to a dynamic in a
situation. to associations. For this report, data scheduling is used similarly for dynamics in
companies and for components that affect dynamics in collections or separately.
CONCLUSION
Marks and Spencer have a strong rivalry in the UK food sector with a steady rise, recovery
between the top four grocery stores and the development of discount stores. Food retailers and
suppliers are also facing cost reductions as a result of rising raw material costs and reduced
premises. Be that as it may, by integrating into their customers and controlling the market, M&S
will keep pace with the changing purchasing power. Buyers are still as quick as you can think
and value progress. They also make smaller "comfort" shops. These models play with M&S
features.
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REFERENCES
Books and Journals
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