Strategic Marketing on Marks and Spencer Assignment
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Added on 2021-02-21
Strategic Marketing on Marks and Spencer Assignment
Added on 2021-02-21
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INDIVIDUAL MANAGEMENTREPORT(STRATEGICMARKETING)
Table of ContentsEXECUTIVE SUMMARY ............................................................................................................1INTRODUCTION...........................................................................................................................1PESTLE (China)687........................................................................................................................1MARKET ENTRY OPTIONS........................................................................................................3MARKET SEGMENTATION .......................................................................................................5PORTER'S GENERIC STRATEGY ..............................................................................................6CONCLUSION ...............................................................................................................................8REFERENCES................................................................................................................................9
EXECUTIVE SUMMARY Strategic marketing is the way or the approach through company can utilisation itsresources and gain market advantage growth. However, the present study has been based onstrategies which described the different approaches of market entries, to analyse businessenvironment etc. The based on M&S that will be opening the new operations in China market bylaunching the new electronic gadgets. However, report also applied different strategies ortechniques through company gained competitive market growth. INTRODUCTIONMarketing is the plan or the business strategy for reaching people and turning them intocustomer of the product or services. The main purpose of the marketing strategy is to attract thetarget markets and the value proposition that will be offered based on the analysis . However, thepresent study will be base on strategic marketing of M&S will be explains the expansion strategyfor China. However the present report will outline the Country specific PESTLE analysis thatcovers the opportunities and threats that the company could face as well as possible solutions tosuch threats. Also it explains about the market segmentation and targeting in general terms andshow the client could targeting for the new product expansion of M&S that is electronic gadgets.Furthermore, it explains about the porter's generic strategy where it explains critically analysewhy it will be best suited strategy for the company. Overall, the present report will be abstractthe whole strategic marketing for the new expansion growth.PESTLE (China)China has a wide scope for service sector which contributed approximately 50% to thetotal GDP in 2015. In this share retail market has contributed approx 9.8% in 2015. in thecontext of government of China they also support to service sector organisations to improves thebusiness climate of the country (Camilleri, 2018). However, for expansion the business in China,M&S has to go through from the external market analysis by the help of PESTLE Analysis.Political : Political factors become very difficult for those companies who operates itsbusiness at different places. Business needs to followed the policies, regulatory implications thatimposed by the host country. But companies in China enjoys the business because of strongpolitical system of the country that can be beneficial for the M&S to boost the business growth.But on the same side, China political factors can be influenced by legislations, tax, interest rates,1
democratic change etc. That might be not healthy for the business growth sometimes. Sohowever, this is the positive sign for M&S to get into the business in China. Economical : Economical factors define the economic conditions of the country is goodor bad. Weather company will gain enough profit in future or not by setting high prices. So interms of China from last five years, china got excellent growth rate in GDP. China has effectiverate of savings that also shows the positive sign for M&S to open the store in China. Anotherpositive factors that company could gain is cheap labour cost and various leading companies arehiring the workers to increase their cost (Chen and et.al., 2018). On the same side, economicfactors also get affect the business due to high inflation rate and interest rates. For Example :High inflation rate can increases the prices of product or services in that case company mighthaving low sales volume profit. For the businesses this situation sometimes affect the overallgrowth and productivity. Social : Social factor of the external business environment is highly influenced by thedemographic factors of the society. Such as age distribution, culture, values, religion of thepeople. All such factors impact negatively on the business sometimes. Social factor is highlypotential factor that affect the business directly ineffectively. They can have power to change thecultural aspects of the country. This can have the best potential growth system that makes thecompany more challenging and ineffective. M&S has to imply the strategies that makes the goodimpact on the society and people to gain good image in the china competitive market. Technological : Technological factor of the business environment is highly profitearning growth. It also helps to make the best following target opportunity and makes the bestdevelopment results and goals (Collinson, 2015). There are some of the technological factors,which are involved in development of new products. It is also noted that the Chinese market hasvery low credit card penetration in china which is widely used across the world as the effectiveand fast payment method. This factor has usually motivated and influencing the work into moredetailed and efficient manner. By the help of technologies company can also influenced to doingthe online business and make the task easy for the clients. It has been analysed that 24% of theChina's digital shoppers had made a across border purchase this year lifting the market value by15% year over and over. Legal : As the e-commerce is flourishing and the government has started working on theformulation of legal framework in order to protect those areas and growth for the better2
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