Strategic marketing plan

APA referencing\nSection C includes 6 points are crucial to include in the assignment\nChosen company is Marks and Spencer.\nPlease make sure you follow the task instructions.

Strategic
Marketing
Plan

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1. Environmental Analysis..........................................................................................................1
2. Marketing Objectives..............................................................................................................4
3. Marketing strategy selection...................................................................................................5
4. Market targeting and positioning............................................................................................6
5. Assessment of the 7P's............................................................................................................7
6. Implement, control and evaluation..........................................................................................8
TASK 2............................................................................................................................................8
Analysis the effectiveness of the corporate strategy and marketing strategy.............................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Strategic marketing plan is creating procedure where management and operations teams
strive to come together and apply practical marketing strategies. This plan revolve around the
kind of atmosphere and entity desires to set for customers in the quest to make sales
(Brooksbank, Garland and Werder, 2012). The strategic marketing plan consist of demographic
and geographical target markets and market segmentation. Along with involves setting goals and
objectives, evaluate internal as well as external business factors, product designing, application
and following the growth. So it helpful for the organisation to know actual position in the
market and identify all the potential opportunities. It analysis short term as well as long term
goals that achieve by the organisation in certain period of time. Due to Brexit in UK impact on
the retail industry in positive and negative manner so for this select Marks & Spencer which is a
retail sector organisation. It is a British multinational retailer that selling out high quality
clothing, home products and food products. The headquarter of the organisation situated in
Westminster, London, united kingdom. The CEO of department store has approached for the
advice so there is producing strategic marketing plan for the one department. In this plan consist
of environmental analysis, marketing objectives according to UK market situation. Along with
marketing strategy selection that apply to attract customers after that target customer to get
position. Analysis of 7P's regarding to organisation then apply plan and control according to
activities.
TASK 1
Overview of the organisation: Marks & Spencer is retail sector organisation which is
public limited type organisation. It is mainly dealing into home products, food products and high
quality clothing. The company has been listed into London stock exchange as well as FTSE 250
index. The store founded in 1884 by Michael Marks and Thomas Spencer. The company provide
products in these brands such as M&S Energy, Blue Harbour, Per Una, Limited, rose etc.
Currently company have about 959 stores across the UK in which involve 615 sell only food
products (Camilleri, 2018).
1. Environmental Analysis
To produce strategic marketing plan for the Marks & Spencer require to analysis internal
as well as external activities. The environmental analysis is strategic tool that supports to
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organisation to recognise all the internal and external factors regarding to environment that
impact on the abilities of business to run business procedure in smooth manner. Through
environmental analysis Marks & Spencer identify all the strength and opportunities that helps in
growth and success for the longer period of time.
PESTLE Analysis: It is structure or tool that utilised by the organisation to determine
and evaluate the macro environmental factor that show impact on the business activities in
positive as well as negative manner. As a result it mainly utilise to recognise the threat as well as
weakness that used in SWOT analysis. There are conducting PESTLE analysis of the Marks
&Spencer to identify all the external factors such as:
Political: In this factor consist of all the government policy, foreign trade policy, labour
law and trade restriction. These factors can impact on the business performance. In the case of
Marks & Spencer the UK government sets legislation for the organisation regarding to health &
safety British Standards like planning foe consequences recognisance, evaluation of risk and risk
control. In the Brexit the United kingdom take decision to leave European union so it impact on
the political factor and affect to Marks & Spencer activities. The company followed the free
trade agreements and decreased sourcing costs. Due to higher cost get many disadvantages in the
global market (Énalan and Soteriades, 2012).
Economical: These factors evaluate of the interest rates, disposable income, economic
growth and exchange rates. M&S affect by the competitors discounted pricing strategy that
mainly concentrate on the higher quality that led for the short term loss ans client connect with
the quality with value. The confidence of customer make effort to push for the standard quality.
Social: In this factor focus on the trends such as population growth rate, age, income
distribution, safety emphasises, lifestyle attitudes and cultural barriers. Shared beliefs, values and
population plays significant role at the Marks & Spencer to analysis the mentality of the
customer regarding to product and services. So they are designing the market message according
to retail industry customers.
Technological: This refers to technology incentives, different level of the innovation,
technological change, research and development activity etc. To manage the brand in the retail
store for this apply advance technology. Marks & Spencer continuously communicate with the
customer regarding to brand and after Brexit provide offer to customised clothes and advertise of
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their products. With the help of technology create customise website where provide different
options to customer and take appropriate steps.
Legal: It is mainly related to political activities where required to follow all the set laws
and legislation regarding to specific organisation such as consumer protection law, employment
law, patent law and safety law. Marks & Spencer carry out again training and updated every year
to know about new laws & legislation that introduce by the UK government regarding to retail
store. Along with for health & safety use all the legal protection. For this Marks & Spencer apply
changes in the store and provide training to their employees according to that and follow
procedure of the tax changes. As this purpose invite for the objectives and require to apply
changes for future development (Kash and Deshmukh, 2013).
Environmental: It is become essential because increasing scarcity of raw material,
pollution targets and carbon footprints. So in the environmental activities consist of these factors
like climate change, weather. In present time environmental climate stands that create problems
and advertise about the products at television, newspapers and magazine. Marks & Spencer work
on the free policy that known as plan A. The company announce that their products become
carbon neutral, zero waste to landfill, ethical trading, health promotion business etc.
SWOT Analysis: It is internal analysis tool that stands for strength, weakness,
opportunities, threads. In this technique assess four aspect of business such as Strengths and
weakness are the internal to any company, things company have control over and can change.
Opportunities and threats are external, things that going on outside of company and in the
market. For examples, marks and Spencer.
Strength:
 Strong recognition of brand image: The positions of company itself as a high end value
product which target to premium customer.
 Strong enhancing customer experience: M&S focus on providing its customer a wide
range of products.
 Large number of stores and outlets: The store has a number of stores so that its customer
can easily access the latest design. Product innovation: It has successful track record of development of new product in the
market (Kotler, Bowen and Baloglu, 2017).
Weakness:
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 Need more investment in new technologies, Marks and spender needs to put more money
in technology to provide its product across the board.
 Lack in positioning and unique identity of its product on the boarder area.
 M&S lack in supply chain of its new product and services. Sometimes Marks and spender uses old techniques like manual working which will
increase the cost.
Opportunity:
 A new segment, as fashion is an evolving business which will leads to new segment on
the regular basis.
 New technology will enhance Marks & Spencer to practices pricing strategy in new
market.
 M&S can lower its shipping prices to bring down its cost. International expansion can be huge opportunities in another economies (Kurt and
Hulland, 2013).
Threat:
 Due to increase competition in the retail sector M&S face various challenges regarding
other brands like Zara and united UB are giving competition.
 M&S should consider quality of its product as customer are becoming more aware about
quality standards.
 It needs to mange its risk management in new scenario by increasing stores.
2. Marketing Objectives
A objective is statement that consist of an individual, team or organisation want to
achieve. Objectives are SMART if they are specific, measurable, achievable, realistic and timely.
It is essential for the organisation because they direct for the different actions of the marketing.
These are using to measure the performance regarding to marketing plan. Specific: To expand the business activities and introduce the new product in the market
required to set specific objectives that relates with the Marks & Spencer organisation. In
the objectives define about the all the require information that related with the product
and about company. To make specific object require to concentrate on the major goals
that achieve on priority basis.
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 Measurable: After set the specific objective of the M&S require to define all the area that
supports to get growth and success for longer periods of time. To measure set goals of the
company apply performance measure tool and analysis the progress of the company. Achievable: To achieve objectives of the organisation required to apply effective
marketing strategies in order to achieve it. The short term objectives set 10% increment
in the revenues and for long term objectives set target about 25%. So it is helping to
achieve good profitability and productivity of the company. Realistic: To achieve the goals and objectives should be realistic that can easily
accomplish by the organisation through different sources. SMART objectives must
realistic where organisation concentrate on the different strategy and take proper time.
 Timely: The set objectives regarding to business can be achieved in the certain period of
time otherwise store face many issues regarding to profitability as well as productivity.
These objectives based on the short term ass well as long term period basis so it is
required to objectives acquired according to period of time and which is essential to
achieve first. If organisation does not set any time period so it would not be achievable.
3. Marketing strategy selection
Marketing strategy is define as overall game plan that helps to meet the potential goals
and objectives and attract customers for the products as well as services. In this strategy include
the value proposition, data on target customers demographics, key brand messaging and other
high level elements. Due to face the problem regarding to Brexit apply the Ansoff matrix.
Ansoff Matrix: This strategy used by the most of the organisation due to get growth for
the long period of time. It is a tool that utilised by the organisation where firm evaluate the plan
and all the related strategies for the success. The Marks & Spencer organisation apply the Ansoff
matrix to aware for the Brexit affect (Mackay and Wilmshurst, 2012).
Market Penetration: It is part of the growth strategy where an organisation selling out the
existing products in existing market. To capture larger market share required to company apply
different types of promotional strategies to attract customer regarding to products and services.
So Marks & Spencer apply the particular strategies in order to get success but for this require to
organisation present their products in modify manner that helps to attract customers. Before the
modification required to conduct market analysis and know about the current trends that apply
appropriate changes. Company provide those brand products that prefer by the customer mostly.
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Product Development: In this strategy any organisation launch new product in the
existing market in order to increase sales and demand of the products. As a result it shows
positive impact on the organisation activities. In the context of the marks & Spencer apply the
particular strategy according to change in the fashion. The retail store provide product to the
organisation according to current market trends that become reason of the success.
Market Development: The particular strategy mainly apply by the business to enter into
new market with existing products. This strategy practised by the Marks & Spencer to spread out
the business at international level. The retail store open new outlets in the various nations to
enhanced business operations. The demand of the products is high and they able to expand
market by opening new outlets at prime areas in various countries (Meredith, 2016).
Diversification: It is a growth strategy which is applied by the Marks & Spencer to
produce new product for new customers and fulfil the requirement. The research and
development department of the Marks & Spencer is highly efficient to produce new products to
target the customers regarding to retail store. To enter into new market for this conduct market
analysis and collect information about the customer taste & preference. According to that
company present the products at suitable price to customers.
Justification: Marks & Spencer apply the Market penetration strategy to impress clients
and make them loyal regarding to brand and provide good quality as well as services. They are
providing special offer and organise customer loyalty programs in festive season to attract
customers.
4. Market targeting and positioning
STP: It is a tool which apply by the organisation to identify segmentation, targeting and
product. It works for the business to enhance the business activities into other nations. There are
defined all the three strategy that applied by M&S as follows:
Segmentation: In this strategy Marks & Spencer categorised all the different age group in
the particular strategies. There is a set the demographic segmentation and provide products to
people according to age, size and income level basis.
Targeting: For their products they address to women, men and child of the London and
another countries. These products provide by the company at online and offline stores.
Positioning: In this procedure apply all the effective strategy to attract customer and
make image in the market regarding to particular brand (Mihai, 2013).
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5. Assessment of the 7P's
Marketing mix: It is defined as set of actions or tactics which it applied by the
organisation to advertise of their products and services. Marketing mix is a tool that corporate
with large number of elements in respect to strengthen and escalate the product brand. M&s
follows the competitive pricing strategy in the marketing mix regarding to product portfolio.
They are categorised the price of products in between medium to higher category due to have
premium quality of products. There is analysing the 7P's in the context of the Marks & Spencer
such as:
Product: Marks & Spencer is popular brand in the retail industry that sell out branded
products and cover items of all age group of people like men, women and kids. It provide
products to women like Cardigans, jeans, Blazers, shirt and many more. It also deal in the bags
and accessories like beach bags, hand bags, sunglasses, jewellery etc. Along with footwear like
loafers, pumps, jeans, booths, sandals etc.
Price: Marks & Spencer follows competitive pricing strategy for its product portfolio,
prices varies from medium to higher levels. But during seasonal time it offers more discount on
products to get more customer and gain market share. it should introduce new product with new
penetration to lower its price as compared to competitive (Paley, 2017).
Place: M&S have more outlet as compared to its online stores, it can open up online
website stores to reach larger customer by publishing on social media such that it can be user
friendly and easy to use. Customer can purchase directly from stores as its available in many
placer with different varsity of product.
Promotion: The company uses multimedia to reach out to larger audience , its adversity
on social media like YouTube, face book, website to cover huge customer, to promote its product
it hire blogger and television stars to inference the audience to purchase its products. Also, can
use digital medium to reach its customers.
Process: Marks & Spencer make sure that they provide product timely to its customer on
retail stores by maintain inventory levels of product, they also have online delivery process
where product is delivery at shopping dressages. To reduce its cost M&S should use different
ways of processing its product.
People: Marks&Spencer has 1000 stores in various counties, competitive among
companies helps to retain the employees by having better basic pay to employees and rewards
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above on better performance, also provide pension benefits, life insurance scheme. It also hire
women employees in the outlet.
Physical Evidence: Marks & Spencer provide its products in distinct colour packaging
that make easily available to its customer, and there are user friendly and allow to customer to
view product on online with good quality images. Customer can easily identified it symbols from
different product that provided by the store.
6. Implement, control and evaluation
After conducting marketing mix effectively apply all the plan and strategy that set for the
specific period of time. At this stage require to control all the procedure of the business for this
apply different variances such as budget setting, cost benefit analyse, variance analysis and
reporting (Quinton and Fennemore, 2013). These analysis control all the activities and influence
to all the department to follow strategic plan that prepare for the organisation. The company set
the budget for the different department according to that spend money. After implementation of
the plan require to analysis all the activities that supports to business to take reviews from the
customer that categorised into positive and negative manner. If received in negative manner so
apply the proper modification and if receive positive so try to improve quality and maintain it.
TASK 2
Analysis the effectiveness of the corporate strategy and marketing strategy
Corporate strategy: It is related to long term strategy that described in detail manner and
apply for the vision, mission, corporate values and culture that supports to encourage of the
workforce in order to apply appropriate actions. Corporate strategies helps to achieve set goals
and objectives of the organisation and fulfil the organisation expectation. There are consisting of
different strategies like KPI, benchmarking, balance score card etc. These strategies
hierarchically the highest effective plans where consist of different analytical techniques in order
to conduct PESTLE analysis, SWOT analysis and any others.
Marketing Strategy: It plays essential role in any organisation and part of the corporate
strategy. Through these strategies fulfil the expectation of customer and analysis about them. An
effective marketing strategy consist of the value position and organize data regarding to
customer and set demographics, key brand messaging and other upper level factors. The main
reason to apply these strategies to determine the requirement of the customer and their taste &
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preferences to increase sales volume of the organisation that offer products to satisfied and
desired profits that can be generated through business (Wrenn and Mansfield, 2014).
Effectiveness
Corporate strategy consist of several strategies in respect to direct and arrange all the
different departments in the retail store. There are several departments like marketing, human
resources, operation and management are preparing effective strategy. The marketing strategy of
the Marks & Spencer select different segment, target and position in order to sell out the
products into other organisation. Through corporate strategy, company set the aims and
objectives of the organization that achieve in certain period of time. The corporate strategy show
positive impact on the procedure of the marks & Spencer. It is a retail store where provides
different types of products and services to the customer according to their interest. In respect to
fulfil the marketing objectives require to set effective marketing plan where define all the aspects
that require to fulfil. For this apply effective marketing strategy that helps to attract customer and
promote products and services. Company has decided to set effective objectives in order to
increase sales as well as profitability by 15% in shorter period of time.
The marketing strategy of the marks & Spencer is so expensive that utilising the most of
sources to execute any plan in proper manner. For advertising require to organise marketing
campaign that related with the marketing and sales department and work together to influence to
customer to buy their products. To advertise of the products use Television and radio that costly
and help to compete with other retail store who is dealing into same products. Through local
promotion get premium place due to compete with the local audience and satisfy the expectation
of the customer. After selling the products take reviews from the customer and according to that
apply modification in the organisation. Many time marketing strategies effectively apply in the
company so it shows positive result but due to uncertainties it shows negative impact on the
organisation activity (Robertson and Wardrop, 2012).
An effective marketing strategy leads for the business regarding to continuous growth
and increase sales as well as growth. In the context of the Marks & Spencer apply well planned
marketing strategies that used to advertising the all the departments that exists into retail store.
On the basis of organisational objectives set effective strategy that helps to achieve in specific
period of time. Through better communication business get growth because there meet with the
different types of customer and influence them to purchase products. It communicate with the
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public audience to keep safe and quicker method as compare of brochure, news papers, radio or
television. For this purchase activities anywhere, anytime provide the possibility of the
organisation at online level for 24 hours of a day (Sakas, Vlachos and Nasiopoulos, 2014).
After utilization of marketing strategy that supports in acquirement of entire of corporate
strategies. The marketing strategy can select by the organization that help to fulfil the
requirement of the customer and retention, new profitability etc. In the corporation level mainly
organisation apply the corporate strategy to satisfy the customer and get growth for longer period
of time. It may help to company to meet with the sustainable success and achieve all the
competitive advantages. The marketing strategies mainly focus on the different factors of the risk
that reduce by the different strategies. In order to identify the risk by marketing mix, targeting,
segmentation and positioning. There is required to control on these things due to formulate the
business strategies regarding to market. Projection of marketing strategies is crucial for the
success of entire corporate strategy (Tinnish and Mangal, 2012).
CONCLUSION
As per the above assignment it is concluded that strategic planning related to any strategy
that apply by the organisation to achieve their organisational goals and objectives. To compete
into retail sector required to analysis of environment where identify all the internal as well as
external activities that become reason of the loss. So for this apply effective strategies in order to
apply by the business to achieve set marketing objectives. To conduct these activities follow all
the procedure that direct impact on the efficiency. After application of the marketing strategy
require to implement and control the effectiveness. That are applied corporate and marketing
strategy which is impact on the business performance and achieve al the goals and objectives.
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REFERENCES
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