Marks & Spencer Marketing Strategy Analysis

This assignment analyzes the marketing strategy of Marks & Spencer (M&S), focusing on its four Ps: product, price, place, and promotion. It examines how M&S positions its products, sets prices, distributes them, and promotes them to reach its target market. The analysis also explores M&S's smart objectives and their impact on the company's growth.

MARKETING
PLANNING

TABLE OF CONTENTS
INTRODUCTION .........................................................................................................................................................2
PART 1...........................................................................................................................................................................2
Situational analysis....................................................................................................................................................2
Industry and Environmental analysis........................................................................................................................2
Competitor Analysis .................................................................................................................................................3
PART 2...........................................................................................................................................................................4
Market focus..............................................................................................................................................................4
Appropriateness of targeting, segmentation and positioning....................................................................................5
Marketing programme...............................................................................................................................................5
CONCLUSION...............................................................................................................................................................6
REFERENCES................................................................................................................................................................7
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INTRODUCTION
Marketing planning can be defined as a plan which provides outline of the organization’s
advertising as well as marketing efforts for the future. It explains activities of business which are
involved to accomplish the particular objectives of marketing in a specific time period. Present
report is based on Marks and Spencer which is a British retailer and it is engaged in selling of
food products and clothing (Hollensen, 2015). This report provides clear understanding of
situational and competitor analysis of the stated firm. Moreover, it also covers the marketing
objectives that help the company at the time of promoting its products and services.
PART 1
Situational analysis
It can be termed as the collection of different methods which are used by manager for
analysing the internal and external environment to analyze the capabilities as well as business
environment of the company. In context of Marks and Spencer, the main goal of the firm is to
provide appropriate quality of products and services which helps in developing trust in the mind
of customers. Further, the key objective of company is to meet expectations of their employees
so that they can give more contribution to the company. In terms of financial aspects, the main
purpose of the organization is to increase its sales of the products.
There are some of competitors of Marks and Spencer who offers same services such as
Asda, Aldi and Tesco (McDONALD and Brown, 2016). Further, for gaining competitive
advantage and to raise the value in the price of shares the M&S is required to focus on their
customers. It needs to manage internal as well as external environment to evaluate the effects of
perception of people. The company delivers services for enhancing life of customers by
providing high quality as well as innovative products in the field of food and clothing as their
main focus is on to making sustainable future. The major competencies of M&S providing
results in the development of the brand and appropriate quality control along with the proper
customer services. Thus, it can be stated that the main purpose of company is to achieve set
objectives and goals in an effective manner.
Industry and Environmental analysis
In market segmentation of M&S is done on the basis of demographic, physiography,
behavioural and geographic. The geographic segment of Marks and Spencer is UK but the
company also have more than 300 stores in 41 international territories. Further, the company has
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segmented their market demographically in which all age group people, different gender and
social class can buy the products of company (Jacobson, 2016).
The Pest implication of Marks and Spencer includes four different factors such as
political, economic, social and technological which are described below:
Political- The European committee decided to give permission for free flow of trade in
different countries in context of foreign trade regulations which helped the organisation in
importing their products.
Economic- The competitors of M&S are specialised in niche markets and the main focus
of customers to make them in order to provide satisfaction to customers.
Social- In this, there is shift in demands of clothing according to the perception of
consumers has changed. Thus, there is increase in price sensitivity so the consumers leaving
M&S in less competitive position.
Technological- There is an important role played by social media for communicating
information of new products to the customers. The stated organisation also makes their website
attractive which helps in targeting large number of customers (Nijssen and Frambach, 2013).
Competitor Analysis
Competitor analysis can be defined as assessment of strengths as well as weaknesses of
the existing and potential customers. It helps in providing an appropriate strategic approach for
identifying opportunities and threats. M&S is operating their business in competitive
environment and there are certain factors which affect the functioning of business. The core
values of M&S includes the affordability, quality and services in context of their competitors.
There are certain major competitors such as Tesco, Sainsbury which provides same services as
M&S. The stated business has challenged other segments of business and competes with them. It
can be carried out by adopting different strategies of marketing which helps them in promoting
their products to the wide range of people. Further, the company also created a huge customer
base and achieve high level of profits (Renz, 2016).
The SWOT analysis of M&S includes four elements strengths, weaknesses, opportunities
and threats which are described below:
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Strengths- M&S is one of the largest retail brand and the products of company gain the value for
money because of their quality and broad range of products.
Weaknesses- There is limited market share due to high level of competition with other brands in
retail.
Opportunities- M&S can introduce new segmentation of market which offers high profit.
Threats- There are other retail stores which are engaged in selling same products can be
considered as threat for M&S as they sell products on the discounted prices.
PART 2
Market focus
In context of SMART criteria the aims and objectives of Marks and Spencer are
mentioned below :
Specific- The main aim of M&S is to increase the level of profit by opening stores in different
areas in coming year. To become the most popular brand in the sector of clothing by developing
the brand amenities.
Measurable- In this , the main purpose of Marks and Spencer is to attract most appropriate talent
in the industry and make appropriate strategies of human resources. The objective of company is
to be on the top at global level (Glass, 2016).
Agreed- In this section, the major objective of M&S is to deliver appropriate quality of services
as per their personality along with developing trust among customers. Further, to recruit efficient
people to the workplace which helps in maintaining appropriate quality of services at workplace.
Realistic- In context of realistic aim, it is to achieve that to develop the product which contains
more advanced quality by 2018. along with this, to help customers in order to analyse the
products in particular time frame.
Time- In this, the aims and objectives are required to achieve which includes competitive
advantage , high level of profit and market share in upcoming 3 years. The objective is related to
get high position in the sector of clothing.
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Appropriateness of targeting, segmentation and positioning
In context of target market of M&S is concerned with the all age group and the company
manufacture all type of clothes as per opinion of customers. At this stage, as the purchasing
power of customers is high so that the target market is also proves to be profitable and helps to
increase overall profit for M&S.
The segmentation of market is on the basis of age, behaviour, gender as well as lifestyle
in the market of M&S. The age is also effectively matter for company as it helps in determining
the types of products which are to be produced in market (Simpson, 2013).
Thus, it can be stated that M&S is considered as one of the largest retailer in UK in the
sector of clothing to the another company. The major competitive advantage of the company is
that it is a big brand and it have large economies of scale along with the intense marketing.
Moreover, after making appropriate research and development which helps he company in order
to develop new products for developing a high level of competition in marketplace.
Marketing programme
It includes the marketing mix of Marks and Spencer which helps in identifying various
elements such as product, price, place and promotion. All of the elements of marketing mix are
described below:
Product- The products of Marks and Spencer are mainly known for the quality along with the
reliability and style. On this factor, the company never compromised and always being loyal to
the customers. This will helps the company to build a huge customer base worldwide.
Price- M&S products are easily available in market and the company charges medium to high
prices for their products. But at the same time most of the products of Marks and Spencer are
available on premium prices where the main target is on upper class people (Strauss, 2016).
Place- M&S have their more than 600 stores in UK and also established their presence in
international market. So the products are easily available in the towns and cities and also in the
other developed countries. Moreover the company also selling their products online through
internet which helps in creating huge customer base.
Promotion- There are different types of techniques of promotion are adopted by Marks and
Spencer so that they can promote their products such as social media marketing, advertisements
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on television, newspapers and magazines. It will helps them to provide all of the services as per
the requirement of customers.
CONCLUSION
From the above carried out study it can be concluded that marketing planning plays an
important role in the development of a company which is to be managed by the organisation in
an appropriate manner. This reports can be inferred that there are different smart objectives are
developed by the management of M&S which helps in the growth of company.
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REFERENCES
Books and journals
Hollensen, S., 2015. Marketing management: A relationship approach. Pearson Education.
McDONALD, M.A.L.C.O.L.M. and Brown, L., 2016. 5 Strategic marketing planning. The
marketing book. p.86.
Jacobson, S.M., 2016. Analysis of market dynamics for marketing planning.
Nijssen, E.J. and Frambach, R.T., 2013. Creating customer value through strategic marketing
planning: A management approach. Springer Science & Business Media.
Renz, D.O., 2016. The Jossey-Bass handbook of nonprofit leadership and management. John
Wiley & Sons.
Glass, B.W., 2016. Planning and control systems supporting the marketing function of an
international company.
Simpson, M., 2013. Marketing Planning Principles into Practice. Journal of Small Business and
Enterprise Development.
Strauss, J., 2016. E-marketing. Routledge.
Online
The Marketing Mix and the 4Ps of Marketing. 2017. [Online] Available through
:<https://www.mindtools.com/pages/article/newSTR_94.htm> [Accessed on 7th March
2017]
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