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Introduction to Marketing

   

Added on  2022-11-28

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Introduction to Marketing
Assessment

Contents
Introduction................................................................................................................................3
Overview of business.................................................................................................................3
Key relevant changes within UK fashion retail.........................................................................4
Key relevant changes in macro environment.........................................................................5
Micro environment of M&S...................................................................................................6
Marketing Mix of M&S.............................................................................................................7
Target Market segments of M&S...............................................................................................9
M&S suggested tactics.............................................................................................................11
Recommendations....................................................................................................................11
Conclusion................................................................................................................................12
References................................................................................................................................13

Introduction
In today's commercial environment, marketing has a key function to play. Managers
of many forms employ this method to enhance their individual business' profit margins.
Every effort is made to improve customer service and to develop successful ties with the
business company's important customers. The retail business refers to the distribution process
of consumer products and services to their respective clients via different channels. Such
industries are aimed at fulfilling the requirements and requirements of different people and at
generating maximum profits. The current study will focus on the retail industry's operational
workings, encompassing numerous concerns and obstacles facing the business manager. In
addition, this publication outlines tactics and policies undertaken by selected companies,
namely Marks & Spencer, to address diverse and severe competitiveness in the retail sector.
The aim is to underline the many strategies chosen by the company to cope with intense
competition in its specific operating market. In this context, the company develops counter-
strategies to address numerous issues that impact on improved business performance
(Acharya and et. al., 2018).
Overview of business
Marks and Spencer Group plc. is a global British store who supply branded items
such home-made items, apparel and foodstuffs, also known as M&S. Michael Marks and
Thomas Spencer formed the respective firm and it clearly understands why the name 'Marks
and Spencer' was named. The firm is based in London, England, United Kingdom. The
company has a promising future in the domestic sector, with its solid market presence and a
solid brand image, and proves to be a strong competitive player for any other retail company
in a comparable region. M&S now has 959 shops in the UK area, 615 of which are shops
which solely offer food in the region. It supplies its consumers with a broad choice of

branded / premium food goods and has a partnership with Ocado to market their items online.
"St Michael," a brand that Simon Marks introduced to his parent and the company's co-
founder (Balaji and Roy, 2017). The first to be used in 1957 and through to the 1970s is
Tricell, and Courtelle, the first to be launched by Marks & Spencer nationally until the 1970s.
This synthetic fiber is a fiber of the same kind.
Key relevant changes within UK fashion retail
According to Tammy Smulders, UK fashion retail marketplaces in business times
have exhibited a major change in customer's behaviour and tastes in different business
locations. Therefore it is necessary for managers of such a company to be up to speed with
the company's strategy and policies. Some of the trend changes relate to:
Trends in UK retail industries
(Source: What’s causing the Margins to Shrink in Fashion Retail? Infiniti Research Identifies
Key Challenges Facing Fashion Retailers)
Customer engagement: It is the area that is most important in the retail industry, the
positive relationship between the seller and the consumer is very important. Therefore, the
buyer should guarantee that information, enjoyment and convenience are provided in a
changing environment.

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