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Impact of Sustainable Marketing for Promotion of Products: A Study of Marks and Spencer

   

Added on  2023-06-18

40 Pages10427 Words247 Views
Dissertation & PHD Thesis
To determine the impact of sustainable
marketing for the promotion of products: A
study of Marks and Spencer
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Abstract
Sustainability marketing is considering as an effective way to build positive relation with
their customers and also provide them higher quality services as per their needs and wants.
Mainly, sustainability marketing is promotion of environment and socially responsible products
and practices that support company in enhancing their customers base. Along with this,
organizations use sustainable marketing for its particular product and time sensitive cause that
promote company image at competitive market place. the sustainable marketing strategy mainly
involves, CSR activities, Green marketing, implementation of recycling techniques, minimising
wastage, using environmental friendly products and so on, that are effective for the business to
increasing the operations of the business. It aims to improve life quality through promoting
products, services and the ideas which don’t harm the environment. In addition to this,
sustainability is about continuity, adopting behaviour and the practices to ensure that the planet is
inhabitable or the sources are available for the future generations.
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ACKNOWLEDGEMENT
I express my special thanks to my tutor who gave me an opportunity to conduct a research
on an interesting topic i.e. To determine the impact of sustainable marketing for the promotion of
products”. A study of Marks and Spencer.
Secondary, I express my thanks to my friends and family who provided me appropriate
guidelines and support to complete each activity of the research in given time and successful
manner.
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Table of Contents
Abstract............................................................................................................................................2
ACKNOWLEDGEMENT...............................................................................................................3
INTRODUCTION...........................................................................................................................5
LITERATURE REVIEW................................................................................................................8
Benefits of sustainable marketing strategies................................................................................8
Impact of sustainable marketing for the promotion of products..................................................9
Strategies which Marks and Spencer can opt for promoting the products in a sustainable
manner.......................................................................................................................................11
RESEARCH METHODOLOGY...................................................................................................13
FINDINGS AND ANALYSIS......................................................................................................17
Discussion..................................................................................................................................32
CONCLUSION AND RECOMMENDATION.............................................................................34
Conclusion.................................................................................................................................34
Recommendation.......................................................................................................................35
REFERENCES..............................................................................................................................37
APPENDIX....................................................................................................................................39
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INTRODUCTION
Overview of the topic
Sustainable marketing is defined as the promotion of social and environmentally
responsible items, practices, products and brand values. Organisations spend little more than
usual because there are many things that could be sourced locally and 100 percent recyclable,
then they experience sustainable marketing. Businesses could use sustainable marketing for a
particular product, as USP or as time sensitive cause. With the assistance of sustainable
marketing, organisations are making changes in the favour of protecting environment (Lam and
Li, 2019). There are many arguments on the issue of sustainability, especially when it comes to
marketing and business sustainability is big thing. In the recent years, sustainability has great
significance in every kind of organisation be it in any of the settings like social, economic and
environmental development. Sustainability is defined as knowledge to exist constantly. In the
opinion of marketers, sustainability is defined as process of taking business forward without
harming natural resources of the environment (Quoquab, Mohamed Sadom and Mohammad,
2020). They are concerned about using resources to support and endure business for long-term
development and growth.
The concept of sustainable marketing holds great importance that a company must meet
the requirements and needs of their current customers without making compromise in the ability
of future generations for fulfilling their own requirements and needs. In simpler words
sustainable marketing is the kind of marketing that focuses on using services and products that
respect the social and protect the environment aspects around. It is concerned about improving
quality of life by promoting services, ideas and products that do not harm the precious
environment (Lee, Kim and Lee, 2021). With the rise of environmental problems, society has
become more conscious in dealing with problems and issues. When organisations or business
ventures take participation in initiatives such as protecting the environment, they empower their
customers to do the same. Organisations get great brand visibility and more consumers who
stand with the message of protecting the environment. With the concept of sustainable marketing
organisations promote the long-run performance about the system of marketing (Low and et. al.,
2020).
In the present dissertation, investigator is focusing on determining the effect of
sustainable marketing for the promotion of products. The report would clearly express the
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different benefits by using strategies of sustainable marketing. The sustainable marketing
strategies hold great importance and which is explained in the current dissertation by
investigator.
Research problem
The main problem of the current dissertation is that organisations and businesses are not
much concerned about using sustainable marketing strategies in promoting their products and
services in front of their existing as well as potential customers.
Research aim
Main aim of this dissertation is “To determine the impact of sustainable marketing for the
promotion of products”. A study of Marks and Spencer.
Research objectives
To determine the benefits of sustainable marketing strategies.
To identify the impact of sustainable marketing for the promotion of products.
To identify the strategies which Marks and Spencer can opt for promoting the products in
a sustainable manner.
Research questions
What are the benefits of sustainable marketing strategies?
What is the impact of sustainable marketing for the promotion of products?
What are the strategies which Marks and Spencer can opt for promoting the products in a
sustainable manner?
Background of a company
Marks & Spencer is selected as chosen organisation in the current dissertation. It is a
British multinational retailer that is particularly specialised in selling of home products, food
products and clothing and it must be focused that they sell mostly products on its own label.
Marks & Spencer is a retail industry founded in 1884 by Michael Marks and Thomas Spencer in
Leeds, United Kingdom. The headquarters of the company is located in London, England,
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United Kingdom. It is the company that provides its services of products worldwide in different
parts of the various countries.
Rationale of the research
The main motive of conducting the present dissertation is to know the importance of
sustainability in the organisation. It provides information about the usage of different sustainable
marketing strategies adopted by companies to protect the environment with fulfilling
requirements and demands of customers in sustainable and systematic manner. The current
dissertation is focused towards getting in-depth information to the reader about the advantages of
sustainable marketing strategies and its impact on promoting products (Gordon, Carrigan and
Hastings, 2011). There are two other significant objectives that are aimed to meet with two
different perspectives. The two kinds of perspectives that would be achieved through conducting
the current dissertation are: personal and professional perspective. With the assistance of current
dissertation, I have learned about the significance of sustainability in the current time where
there is serious need to protect the environment from harmful resources. From the point of view
of professional perspective, I have gained professional knowledge about the sustainable
marketing strategies, that are used by companies to keep their company for the environment. By
conducting this dissertation, I have also learnt that customers are more attracted to buy from
those organisations that take part in the initiative of protecting the environment (Melnyk And et.
al., 2013).
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LITERATURE REVIEW
For undertaking research activities, literature review plays a crucial role because it provides
comprehensive summary of previous studies on the basis of specified topic and area as well.
Basically, it summarises several articles that provide theoretical understanding about the research
topic. With the assistance of this, researcher can easily analyse all the objectives that contributes
in drawing a valid conclusion at the end of the study (Donohoe, 2012). It includes various
secondary sources including books, journals, articles, newspaper and many more. All these gives
theoretical analysis of research aims and objectives and also develop positive results to make
overall research more reliable and authentic in nature.
Benefits of sustainable marketing strategies
According to Ruhlin (2021), Sustainable marketing is focus on developing as well as
promoting products or services that assist in meeting customers’ needs and wants by utilising
society, human and cultural resources. Basically, sustainability marketing is considering as an
effective way to build positive relation with their customers and also provide them higher quality
services as per their needs and wants. Mainly, sustainability marketing is promotion of
environment and socially responsible products and practices that support company in enhancing
their customers base. In this context, there are some benefits of sustainable marketing strategies:
Improve brand image: This termed as the significance aspect that is effectively be gained
by the business with the execution of sustainable marketing strategy. Therefore, as per the report
analysis of national marketing institute it has been evaluated that around 58 percent of the
American buyers are likely to purchase their products and facilities through the businesses which
are mindful of their influence over the environment or on society. The report evaluation of NMI
it has been found that, these buyers are concern over spending up to 20 percent or more over the
environmentally sound items and services.
Increase productivity and reduce costs: This is also defined as another benefit of
implementing sustainable marketing strategy. However, the increasing sustainable business
practice will help the business in streamline the functions and creating a company more effective
and conserve aspects, decreasing a business’s operational cost (Hasan and Ali, 2015). Therefore,
the sustainable marketing is effective for the business in developing the productivity of the
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