Strategic Marketing

Strategic Marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Critically evaluate how marketing techniques and tools can support the strategy of an
organisation and how this impacts on marketing plan.................................................................1
Determine marketing methodology and approaches that contribute to a marketing plan within
complex organisations.................................................................................................................3
Address risk associated with the marketing plan.........................................................................4
Critically evaluate the elements of marketing plan and levels of importance of each component
to achievement of strategic objectives.........................................................................................5
Marketing Plan.............................................................................................................................7
Discuss mitigation strategies for high risk components of marketing plan.................................8
Plan supports strategic objectives................................................................................................9
Approach to gain marketing plan..............................................................................................10
Measurement of marketing plan................................................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Strategic marketing can be describe as the process of conducting marketing practice in such
as manner that it will lead to increase business operations. This consist of planning, developing
and implementation of different task with the motive of attaining desired goals and objectives.
Through strategic marketing practices organisation is able to take correct actions and develop
effective plan which is assist in enhancing overall performance and potential of business.
Strategic marketing is a long term process and it consist of forward looking approach in order to
improve business sales and revenues. It is essential for company to consider strategic marketing
in order to gain competitive edge over other rival companies and enhance business practices.
This report is based on Marks and Spencer company. This company is dealing in retail sector and
it is offering high quality products and services which is significant for meeting customer’s needs
and wants. It is providing fashionable products to customers and it is offering its products and
services in different part of the world. Marks and Spencer company was developed in year 1884
and founder of this organisation is Michael Marks and Thomas Spencer. This report include
different marketing techniques and tools that is effective for strategy of organisation and its
impact on marketing plan is determined.
MAIN BODY
Critically evaluate how marketing techniques and tools can support the strategy of an
organisation and how this impacts on marketing plan.
Marketing is very important part of business and it will lead to have direct impact on
overall functioning and performance of organisation. It is essential that Marks and Spencer
company is consider correct marketing techniques and tools that support the strategy of business.
it is essential that company is taking correct steps and action for increase its marketing practices
as well as successfully implementing marketing plan. Marks and Spencer marketing plan can be
describe as the process that contain different elements and aspects which should be consider by
organisation in order to enhance business practices. This consist of marketing strategies and
approaches that will lead to increase sales and profitability of business. Through effective
marketing techniques and tools Marks and Spencer company is able to successfully enhance it
business functions as well as influence large number of customers towards business. Marketing
1

tools can be describe as ways through this organisation is planning to carry out its marketing
practices as well as attract more customers towards business. Marketing tools and techniques will
have direct influence over successful implementation of marketing plan. Different marketing
tools and techniques are mention below –
 Social media – This can be describe as the online platform in which company can
promote or advertise its products and services. social media is effective tools or
techniques which will have positive impact on marketing practices as well as assist
organisation to enhance its operations. Through this approach Marks and Spencer
company is able to attract more and more customers towards company as well as increase
sales and revenues.
 Survey – This refer as the approach which is consider by organisation in order to identify
customer needs and requirement. In this approach respective company will develop
questionnaire in order to analyse the requirement of customer as well as identify their
needs and wants. Through survey company will be able to determine customers
references as well as market trends.
 Direct mail – This is a marketing approach in which Marks and Spencer company is
communicating with potential customers in order to develop better relationship. It is
essential that organisation dealing in highly competitive environment is considering
direct mail approach with the motive of developing strong relationship with them as well
as enhancing sales or revenues.
 Classified adverts – It is consider as the approach in which classified ads are developed
by company with the motive of providing needful information to customers. In this
approach the main focus of company is to generate more lead as well as meet with the set
objectives of organisation. Marks and Spencer are creating ads according to the needs or
demand of customers as this is useful for lead generation.
Marketing plan can be describe as the process of organisation to carry out marketing
practices in more successful and effective manner. It is essential that respective company is
considering effective marketing plan which is significant for meeting with the desired objective
of business. Marketing techniques and tools will have direct impact on marketing plan as through
effective tools Marks and Spencer company will carry out business objectives. Through
marketing tool respective company will be able to successfully carry out and perform marketing
2

functions as well as implement strategies in more significant manner. Through this company is
able to determine the most effective approach that will work best for organisation as well as able
to attract customers
Determine marketing methodology and approaches that contribute to a marketing plan within
complex organisations.
Marketing methodology and approaches is consider as the ways that is consider by
organisation to effective and successfully carry out marketing practices. It is essential that
respective company is considering correct marketing methodology and approach in order to
successfully conduct marketing task. Marks and Spencer company is providing its products and
services in large market and marketing methodology is significant for correctly promoting and
advertising its products or services in market area. It is essential for company to determine
various marketing methodology and approaches in order to successfully and effectively conduct
marketing operations. Different marketing methodology and approaches is mention below –
 Attract – This is consider as the first step of inbound marketing methodology and in this
step the major function of organisation is to carry out different practices which will lead
to influence more and more customers towards company. There are different tools used
by Marks and Spencer company in this marketing methodology such as blogging, social
media marketing, free E- book, SEO and many more. This is significant approaches that
will lead to attract more customers as well as influence customers to purchase the
products or offering of organisation. In this marketing methodology the main aim
 Convert – In this step company is trying to convert leads into customers. It is essential
that respective company is able to successfully convert visitor into potential customers by
providing high quality products and services to customers. In this methodology of
marketing Marks and Spencer company will take correct actions such as call to action,
manage data base, forms as well as various others practices which are significant for
successfully and effectively convert target market into potential customers.
 Close – It is essential for organisation to close the process once visitor is converted to
right leads. It is important that respective company is correctly closing the process as to
will lead to have major impact on overall marketing function. Close is refer as the
approach through which company is able to develop strong relationship with customers
3

as well as make sure company has potential customers to purchase products and services
of Marks and Spencer. There are number of tools that could support respective company
to successfully and effectively follow this marketing methodology such as Emails, CRMS
and marketing automation. This will help Marks and Spencer company to successfully
and effectively carry out required practices and attain desired goals and objectives.
 Delight – It is crucial for company to delight its customers after they become
organisational potential customers. This is important methodology of Marks and Spencer
company in more to meet with the needs and expectation of customers. This is helpful for
respective company as this will assist in full filling the demand and requirement of
customers. There are various tools which could be consider by organisation in order to
carry out delight practices such as social media monitoring, survey, follow up calls and
follow up emails. This assist organisation to successfully and effectively meet with the
needs and requirement of customers as well as increase overall sales practices.
Address risk associated with the marketing plan.
A marketing plan is setup against different external factors and they may impact the success of
this plan (Zhao and Zhu, 2018). To assess these risks, there is a need of implementing a risk
assessment process that will assist in determining all risks involved in the process. In context of
this, there are some serious issues and challenges that are posed for a marketing plan and they are
explained as follows:
 Target market: Identification of target market is a big risk and challenge for the
company while designing a marketing plan. If the marketing plan is produced in a wrong
target market, than it will result in failure of whole process. Choice of target market
should be in accordance of various factors like, type of product and service offered,
pricing and also the channel of service. Therefore, it is necessary that company is
choosing the target wisely. There are several techniques through which a target market
can be selected with complete knowledge and this involves, survey of taste and
preferences of customers, marketing message suitability, etc.
 Branding: Another issue and risk that company confronts while designing the marketing
plan is the process of establishing branding in the market. If the designer of a marketing
plan is a new company, than this risk become even more severe, as there is no established
identity of that company in the market. The major problem arises in the branding is that
4

company finds it difficult in estimating the value of brand in the market. Company should
attempt to develop trust and value of targeted market over brand in the market. If the
value is over estimated, than it will result in total failure as people will not like it. On the
contrary, if the value is under estimated, than also company will face risk as they will not
be able to generate enough revenues and profitability.
 Trends and Regulations: Keeping on top of industry trends is vital to staying
competitive, but if the plan does not include a method for identifying and assessing
trends, company’s bottom line may be at risk. Marketing plan needs to include a schedule
for carefully reviewing competitors to uncover any new pricing strategies, new products
and services or shifts in their marketing messages. There is need to look at trends in
technology, such as new automation processes that may mean less of a market for offered
product or service. Consumer preferences may also change, especially in the health and
food industries.
 Lack of tracking: it is important that formulated marketing plan includes different
methods that will ensure tracking the efficiency of formulated plan in the targeted market.
If these methods are not incorporated in the plan, than it may result in no monitoring and
controlling of marketing plan and marketer will not be able to know that whether the plan
is a success or failure. These tracking systems may depend upon the sales volume, if they
are going up or down. Another measuring factor can relate to promotional activities and
feedbacks received from customers (Han and et.al., 2019).
Critically evaluate the elements of marketing plan and levels of importance of each component to
achievement of strategic objectives.
Every organisation needs to start business with well structured and estimated plan based
on proper research, competitive position and achievable outcomes (Camilleri, 2018). Marketing
plan is the basic framework thus, it is crucial part for any business to make a suitable marketing
plan and redirect it on the basis of ways that prove it successful. Following are the components
of it:
 Market research: This is first and most important component of marketing plan
that is associated with collection, organisation and write down of data about
market. This includes seasonality, trends and benchmark, products, current sales
5

of industry, availability of suppliers and buying habits of customers that has
immense impact on strategic decision-making of business.
 Target market: Another important component of marketing plan is related to
finding out the target market for offering them products and services. As per this
element it is essential to analyse suitable customers for goods and products and
attracting & influencing them for acquiring of products. This leads to make
effective strategies for satisfying the needs & expectations of customers.
 Product: It is also a significant component of above plan that is integral part of
any business. As per this element it is important to know how the product is
related to market, what are the needs of target market & what measures should be
adopt so as to increase the use of goods and products. Thus, it helps in choosing
effective business strategies as per the requirement of situation.
 Competition: This factor of marketing plan helps in deciding strategies regarding
designing and developing unique selling proposition in order to make it different
from other players of industry. also helps in identifying competition and
substitutes and enable firm to take effective decisions for building strong
competitive position within the industry.
 Market strategies: Another significant component of marketing plan of business
is related to developing promotional and marketing strategies for communicating
and conveying the message to target market that has prominent impact on
business in terms of influencing customer for purchasing and giving them specific
reason why they should by products and services from particular seller or
producer. There are various method to make promotional strategies effective such
as- use of advertisements, social media marketing, websites etc.
 Pricing & positioning: This includes determine impressive and reliable prices for
goods and products based on collected information that has prominent impact on
business in terms of positioning the products and goods and create market
awareness of brand. Thus, this element helps in adopting effective strategies for
acquiring effective position within industry.
 Monitoring of outcomes: Last and final component of marketing plan for a
business is associated with analysing and testing plan and enables business to
6

adopt effective strategies for attainment of estimated results for business within
specified deadline and efficiently. Thus this is important aspect that has
significant impact on business outcomes with required effectiveness and
efficiency.
Marketing Plan
The marketing plan is a process which should include the advertising efforts and
exercises throughout the following year. It is made to help the organisation in making strategies
and have contribution from people working in every aspect of the organisation, from money to
staff and HR. It should prepare towards accomplishing promotional strategies and each part
should be made by strong examination and thinking. The marketing plan offers advertising
opportunity to legitimize their choices and make everybody in the organization mindful of the
aims with the expectation that the entire organization will work together to achieve success
(Hansen and Juslin, 2018).
Profile
Marks and Spencer Group plc (M&S) is a main retailer in clothing, nourishments and home wear
in the UK and it has operation in more than 40 nations around the globe. M&S is in London and
was founded in 2012 and have more than 81,000 employees.
Market Segments and Current Brand Position
Geographic- The customers living in Inner and Greater London purchase more products
from mid-market high road design retailers, for example, Zara and Asos, while those living in the
South East/East Anglia, East what's more, West Midlands incline toward Primark, Matalan, etc.
M&S have customers in many countries and they have stores in the places where customers are
attracted to the products.
Demographic- M&S have women holding 51% of the purchases. M&S is are attracting
more youthful clients, the retailer keeps on having one of the most seasoned client bases in the
clothing and they have to make strategies for the organization.
Behavioral- M&S factor that affects the organization and the strength of attire is the
products and customers who purchase from Primark, Matalan stores consider low to be as more
significant.
Target Markets and a Positioning Strategy
7

The organization have attracted client base and they are very much positioned to profit by
providing best quality products to customers (Schiavone and Simoni, 2019). They have to make
the strategies so that they provide the services to customers and coming age of faithful clients by
tempting more youthful client into their stores.
Marketing Mix
Product- Marks and Spencers have different products in clothing for men, women and
children. The products are good in quality and they are made by understanding the needs of
customers. They have fashion products which are made to provide the customers with better
services.
Place- The products of Marks and Spencers are sold through 766 stores across UK in
different areas across high roads and away retail stops. Another store which is successful is that
they get attracted customers with over 66% of the stores. M&S is presently additionally pulling
in more youthful clients.
Promotion- Marks and Spencers promotes the products and they make strategies for
achieving the profits (Sharp, 2017). The promoting effort for the winter womenswear ranges has
strongly affected deals. M&S has made strategies in a perfect world by bringing the big name
and originator contribution to the brands.
Price- Marks and Spencers customers want quality over price and they can possibly
utilize esteem based estimating by giving quality products which are increasing costs than its
rivals Primark and H&M.
Discuss mitigation strategies for high risk components of marketing plan.
Risk is associated with marketing plan indicated failures and losses including risk of
losing brand image, failure to conduct ample market research, risk of changing needs of target
market, fluctuation in demand and competition, failing of promotional strategies due to false and
misleading messages etc. (Ecker and et. al., 2019). That impacts the entire business performance
and position. Thus, it is crucial for business to identify and overcome the risks in order to make
business strategies successful. There are four effective risk mitigation strategies explained as
follows:
1. Avoidance: when a risk discloses unwanted negative aspects, business organisation can
completely avoid those aspects. One way to avoid a risk is to cancel the project and
8

close the business if the level of risk is higher than business continuation. Another way is
to formulate policies and procedures that assist the organisation to forces for avoid
situations of high risk. Through not starting project reflects avoids unwanted risk
successfully. Thus, this technique if useful when there is high investment required for
overcome of the risk, it si better to avoid risk in particular situation.
2. Acceptance: There is a risk of finite change of failing product in customer’s hands. When
a risk is acceptable reflect low estimated failure rates of business. When a risk based on
the part of prediction and estimation then there is a risk of incorrect forecast of future.
Thus, high consequence related failures monitoring fields performance closely and
establish a early warning system that has prominent impact on business in terms of
accepting risk and finding out the ways to share the risk for reducing the negative
impacts of risks on business that reflects effective management of risk.
3. Reduction & control: The third type of risk management strategy is to reduce the
probability of risk occurrence that shows natural outcome of risk prioritization within
the business. When it is not possible to reduce the occurrence then implementing
control of risks is effective strategy for business which controls the defects cause of
unwanted events. Thus, it important to identify the risk and defects and then control &
thinking the mix of products, technologies, operation, supply chain teams and markets
that enables the teams to limit the high risk opportunities at acceptable and
manageable level. This is another effective risks mitigation strategy that has immense
impact on business.
4. Transference: Last strategy for effective risk mitigation is transferable of risk. As per this
strategy burden of risk is shifted to another party this may includes allowing some
control when something goes wrong within the organisation which is not responsible for
happening. For instance purchase of insurance to transfer the risk to someone else this
may includes careful analysis of discovering risk and probabilities of risk happening. It
safeguards project teams against unpredictable risks including political pressure,
weather & climate that are outside from project and are uncontrollable factors for
business. This strategy reduces the burden of business.
Plan supports strategic objectives It assesses the current situation: It supports objectives by analysing the availability of
resources, summarizing the market spaces, determining firm’s internal weaknesses and
9

strengths, interpreting external threats and opportunities, scanning the competitive
environment and competition, PESTLE analysis can be done through it and recognising
various other issues in activities of marketing. It develops the objective tactics: It supports objectives by analysing the firm’s mission and
vision, objectives of overarching business, broad study about target market and consumers,
statement of uniqueness in position in the market and uniqueness in value proposition.
It crafts the overall plan: It supports objectives by innovating messaging of product, maintaining
strategy of pricing of products, usage of communication channels to convey the message across
global market and planning of promotion can definitely help in strategic objectives of a firm
(Hollensen, 2019).
 Performance Management: It supports objectives by determining the controls, process of
measurement, benchmarks, availability of resources and budgets, analysing success factors
critically, interpreting KPI (key performance indicators) and most beneficial and preferred
platforms and technologies which is having proper BIS (business information solutions).
 Expansion to new market: It supports objective by generation of leads, targeting new
consumers, developing the awareness of brand, building the brand loyalty and image,
increment in sales, revenue and profit, growth in share of market and building the authority
in the industry.
 Marketing strategies is equal to objective tactics: It supports objectives by managing and
handling the various types of data in the firm which generally includes financial data,
product data, sales data, distribution data and merchandising data. Moreover, it includes the
review of the environment related to the market, marketing activity, systems of market,
portfolio planning and 7 Ps of marketing.
Approach to gain marketing plan Identification of firm’s goals: Changes needed in a firm can definitely includes the mission
of the firm that what exactly they want to achieve as revenue or sales target. Because
without identification of goals, there is no use of market plan. Statement of marketing goals: After recognition of goals, decision making is to be done of
planning which can bring a change in an organization among staff, because involvement is
important for necessary decisions so statement of goals are to be done effectively.
10

 Researching market: Market research builds a great change in an organization because deep
study, analysis and scanning is highly required by the employees of the firm to proper
interpreting the market plan and for the execution part also. Target customers: There are various types of customers to be found in a same market,
dealing with all of them creates a huge change in a firm because employees needs to work
on them efficiently so that customers that are targeted can easily be convinced with the
products. Target competitors: This is the most important part for a business because if the firm itself
is not knowing the strength and weaknesses of it’s high competitors than the marketing plan
could also fail to target even the customers so this is highly essential to ensure about the
competitiveness in the market. This analysis needs high skilled person so it can change the
mindset and thinking of those employees who are specially working for marketing plan. Building tactics to support goals: Only establishing goals are not just the work of the team
but handling and maintaining it is another important task for the employees in a firm.
Support criteria are essential for the goal making so that it can largely benefit the firm. Using 7 Ps of marketing: Marketing plan is totally incomplete without 7 Ps, working on
plan can majorly include these, that are, product, place, price, promotion, people, process
and physical evidence of a firm and strategic plan which mainly consists all 7 Ps. Testing ideas: It is important to analyse that the plan on which the whole team is working is
exactly giving some positive outcomes or not. So testing is essential, firm cannot go blind
after developing the plan, it has to look out about the revenue generation and sales result
through the marketing plan.
Measurement of marketing plan ROI: Return on investment decides the amount that has invested in the whole marketing
plan to recover more amounts as compared to the amount invested in the form of
revenues or profits. So ROI can be the best measurement of marketing plan of a firm that
can easily showcase the performance of the plan that has developed by the firm.
Sale: Cost per win refers to the sale of one item, which means that how much the company is
getting more than the cost price of an item. So it can be measured item per sale the profit has
gained by the firm though the selling of one item (Bala and Verma, 2018).
11

 Conversion rate: Goal completion rate is assuming or expecting the revenue generation
from the investment that has made by the firm for the marketing plan. So measurement of
it can also be done for estimating the whole profit generation through goal completion. Increments: It is not always that is targeted is sufficient, sometimes there is an
achievement more than target also. So measurement of that extra revenue us also
calculated within the firm that is mainly in the form of increments or incentives. Lifetime value of customer: Marketing plan always includes the strategy of customer
loyalty with the company because it can benefit the firm in the future or in a long term
growth. So measurement of customer loyalty is also calculated for future references.
 Cost per lead: There is a measurement of leads also, although the customer is not buying
the product but it can be considered as lead generation which benefits the firm in anyway.
So this is also considered as one of the factor for measuring the marketing plan reviews
for the firm.
CONCLUSION
From the above report it can be concluded that marketing strategy is very crucial part of
business as it will lead to increase overall sales and profitability of business. it is important that
company is developing correct strategies and approaches to successfully carry out marketing
practices as well as implement marketing plan with the motive of accomplishing desired goals
and objectives. There are different tools and techniques which can be consider by organisation to
promote and advertise its products and services in market area. This tools and approaches will
lead to have direct impact on overall marketing practices and plan of business. There are
different risk which needs to be consider by organisation to successfully implement business
practices.
12

REFERENCES
Books and Journals
Zhao, S. and Zhu, Q., 2018. A risk-averse marketing strategy and its effect on coordination
activities in a remanufacturing supply chain under market fluctuation. Journal of cleaner
production. 171. pp.1290-1299.
Han, Y. and et.al., 2019. Robust consensus models based on minimum cost with an application
to marketing plan. Journal of Intelligent & Fuzzy Systems. 37(4). pp.5655-5668.
Hansen, E. and Juslin, H., 2018. Strategic marketing in the global forest industries.
Schiavone, F. and Simoni, M., 2019. Strategic marketing approaches for the diffusion of
innovation in highly regulated industrial markets: the value of market access. Journal of
Business & Industrial Marketing.
Sharp, B., 2017. Marketing: theory, evidence, practice. Oxford University Press,
Camilleri, M.A., 2018. Strategic planning and the marketing effectiveness audit. In Travel
marketing, tourism economics and the airline product (pp. 117-135). Springer, Cham.
Ecker, B.L. and et. al., 2019. Risk factors and mitigation strategies for pancreatic fistula after
distal pancreatectomy: analysis of 2026 resections from the international, multi-institutional
Distal Pancreatectomy Study Group. Annals of surgery. 269(1). pp.143-149.
Hollensen, S., 2019. Marketing management: A relationship approach. Pearson Education.
Bala, M. and Verma, D., 2018. A critical review of digital marketing. M. Bala, D. Verma (2018).
A Critical Review of Digital Marketing. International Journal of Management, IT &
Engineering. 8(10). pp.321-339.
13