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Marketing Strategies and Plans of the Company

   

Added on  2020-05-04

9 Pages2896 Words189 Views
Leadership Management
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Running head: Marketing plan and strategy Marketing plan and strategy
Marketing Strategies and Plans of the Company_1

Marketing plan and strategy Table of ContentsIntroduction and background......................................................................................................................4Organizational objectives............................................................................................................................4Product and brand portfolio........................................................................................................................5Pricing strategies.........................................................................................................................................6Distribution strategies.................................................................................................................................7Promotional mix..........................................................................................................................................7Conclusion...................................................................................................................................................8References...................................................................................................................................................82
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Marketing plan and strategy Introduction and background The report presents a brief overview of the marketing strategies and plans of the companywhich are used by the company to develop and build a good relationship with customers in themarket. Marks & Spencer company has been selected for the report. It explains theorganizational objectives, core values and mission and vision the firm. It explains that how thecompany is expanding and selling its products and services across the world. It describes thepricing strategy, distribution strategy and promotional strategy of the company. Marks and Spencer plc is a major and primary British multinational retail company. Itshead office is situated in London, United Kingdom. It is listed on the London Stock exchange.The company was incorporated in 1884 by Thomas Spencer and Michael Marks. The companydeals in various luxury food products and home products in the United Kingdom. The companyhas 959 stores in the UK. In today’s era, the company is increasing its revenue and profit acrossthe world. There are approx 82,904 employees employed in the organization (Gray, 2015). Thecompany is expanding and flourishing its business activities and operations worldwide. It is oneof the biggest players in the in the UK who is dealing in various retail products. The company ismaking good brand portfolio in the market. The organization has overseas sourcing offices inHong Kong, India, China, Turkey, Thailand, Malaysia, Italy, and Sri Lanka. The marks &Spencer company has reopened its stores in Paris on 24th November 2011. Further, the firm ismaking effective strategies and policies to meet the long-term goal and objectives of the firm(Mohamed and Daniel, 2012). Further, the marks & Spencer deals in various clothing productsfor women, children, and women as well as food products. The company analyzes and evaluatesthe macro environment to gain the long-term competitive advantages in the market. The macroenvironmental factors include political, economic, socio-cultural, legal and environmental factorswhich affect the business activities and operations negatively (Toms and Zhang, 2016).Organizational objectives The main objective of the company is to provide a wide range of retail and food productsto the people in the market across the world. Further, the company wants to increase andmaximize its revenue and profit. The firm wants to recover their leadership in special food andclothing. In addition, the company wants to achieve the stakeholder’s objectives for maintaining3
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