Marketing Mix Analysis: Marks and Spencer Business Report

This report provides a detailed analysis of Marks and Spencer's (M&S) marketing strategies, focusing on marketing functions and their interrelationships. The report is divided into two projects. Project 1 describes marketing functions, the role of a marketing manager, and the significance of interrelationships between functional units within the firm. Project 2 compares the 7 P's of the marketing mix for M&S and Tesco, and develops a basic marketing plan for M&S, including an executive summary, objectives, situational analysis (SWOT and PESTLE), strategy, budget, and monitoring. The report also examines the marketing mix for a new energy drink. The report concludes that marketing functions are crucial for a company's success and that a well-defined marketing plan is essential for launching new products. References include books, journals, and online resources.

BUSINESS
MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
PROJECT 1......................................................................................................................................1
PROJECT 2......................................................................................................................................1
Part A: Comparing 7 P's of marketing mix............................................................................1
Part B: Basic marketing plan..................................................................................................4
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Business management is the study which helps a business to run in an effective manner
and it is one the essential parts of a business as well. The report’s main aim is to focus on
different marketing functions. Chosen company for this report is Marks and Spencer (M&S)
which is one of the leading retail firms in UK and provides the best products at reasonable rates.
Report is divided into two projects where in project 1, the functions of marketing, roles of
marketing manager and significance of interrelationship in between all functional units of firm is
discussed. On the other hand, in project 2, comparison of marketing mix will be given in
between M&S and Tesco with developing a basic marketing plan.
PROJECT 1
Enclosed in PPT
PROJECT 2
Part A: Comparing 7 P's of marketing mix
Marketing Mix: It is the model which is a set of 7 marketing tools that every firm uses
in order to achieve the marketing objectives with defined time. Moreover, this plan is about to
put the right product at right time in perfect place in order to make business plan successful. 7 P's
of M&S and Tesco are as follows:
1

Particular Marks and Spencer TESCO
Product It is one of the popular brands that
offer blazer, cardigan, cashmere,
jeans, shirts and many more item
for men, women and kids. Further,
it also offers handbags, sunglasses,
foot glove, shoes, etc.
Company offers food, pet care
products, beverages, toys, clothing,
jewellery, gifts, health and beauty
products, entertainment books, etc.
Place It is an international brand who got
more than 1000 stores in 50
countries (Purvis, 2015). Currently
there are 850 stores in UK only and
the firm also provide home delivery
for their customers.
It has more than 6900 stores which
are located in more than 10
countries. There are different
location which are placed in
countries such as TESCO express,
TESCO metro (Hamzah and
2
Illustration 1: Marketing Mix
(Source: The Marketing Mix 4P’s and 7P’s Explained. 2018)

Sutanto, 2016).
Price Firm uses competitive pricing
strategy because of increases
competition in market. It also offer
low price product with different
discount. Company also sale old
stock at lesser price when new
stock arrived.
Company follow cost leadership
strategy and also followed low price
goods. It also follow economies of
scale and the best channel to
maintain low price.
Promotion Company uses digital marketing
and advertisement campaign in
order to let people know about
different products. It uses print
media, TV ads and social media
campaign to promote different
products (Fan, Lau and Zhao,
2015).
Uses television ads, hoardings and
charitable events to promote the
business.
People Having at global level of presence,
M&S follows competitive payment
policy in order to retain its
employees. Further it also provides
flexible working hours in order to
support them and also promote
women employees to bring more
female friendly policies.
People are employee who actually
undergo the process of selection and
as the firm operates in global level
then TESCO alos provide different
promotional opportunities to their
staff for greater potential
Process The firm separated sub section for
women, men for their easiness.
Further it also start online shopping
and makes different spark cards as a
part of their loyalty programs.
It is designed with company policy
should be minimum and it also
considered different factors as a
process such as service feature and
capacity of level of production.
Physical Evidence Its presence in market at global Logos, packaging, product labels
3

level, building, website, brochures
and hoarding, offered products are
evidence.
and building are evidence which are
used by TESCO as a proof of their
customers. (Malhotra, 2015).
Part B: Basic marketing plan
Marketing plan
It is the basic plan that outlines different marketing strategies as well as tactics which
cover cost, goals and strategy behind launching a new or existing product in market.
Executive summary
The marketing plan focus on evaluation of marketing plan that is uses for M&S for
promoting new product i.e. energy drink in market. The marketing plan consist of objectives,
situational analysis, STP, strategy, budget and monitoring the plan which are mentioned as
below.
Objective
To increase the sales of company by 20% in next 2 years.
Situational AnalysisThe market situational analysis can be done by using SWOT and PESTLE
analysis which is mentioned as below:
SWOT analysis:
Strengths
 Highly effective CSR and global presence in market. Provide the best quality of products at reasonable rates (Pike, 2015).
Weaknesses
 Too much presence in UK makes vulnerable to market. Established unit in China leads to poor financial performance.
Opportunities
 Can invest in Indian market. Online presence will help to reposition in market.
Threats
 Tough competition with TESCO and other company.
PESTLE Analysis
Political
4

 Changing government and taxation policy creates impact upon business.
Economic Fluctuation in economy of the country also creates negative impact upon business. So,
M&S should use different strategy to cope up with this.
Social Sudden shift in the people's view also affect the business that is why M&S should analyse
the needs of customer and produce product accordingly.
Technological Using advanced technology into the working area will be beneficial for the firm to raise
brand image.
Legal Company should comply with all legal terms in order to make it successful in market.
Environmental
 M&S should produce the products that are environmental friendly and sustainable
products.
StrategyTo increase the profit of company, M&S uses competitive strategy and cost leadership
which further help it to produce products in order to fulfil the needs.
Segmentation
Company uses cost conscious group in order to produce new energy drink in existing
market.
Targeting
It targets market is people whose age is in between 15 to 25 (STP of Marks and Spencer,
2018).
Positioning
Provide high quality of products and reach them through promotional activities by using
the social media in order to promote new product in market.
Budget:
Particular Amount($)
R&D expenses 85
Promotional expenses 150
5

Salary paid 25
Miscellaneous expenses 180
Total 440
Marketing mix Product: Offer new product i.e. energy drink with their existing services. Place: It offer its product in UK. Price: Uses competitive pricing strategy with low priced product. Promotion: Uses advance technique such as social media and advertisement to attract
large mass of group. People: Employees, staff members and customers are considered as people. Process: Provide different subsection to their customers with online shopping.
 Physical Evidence: New product, its packaging, building, logos, advertisement,
brochures are evidence that shows the existence of the company.
Monitoring & Controlling
This should be done in order to check that whether objectives are met with plan that is
why M&S should check the process by drafting activities and take correct measures if any
deviations are found (Okumus and Cetin, 2018).
CONCLUSION
By summing up the above report, it has been concluded that marketing function plays an
effective role and they are interrelated with functions of a company. Report concluded that
different function of M&S are help in order to make their product successful in market and in
addition to this, it also describe the comparison of two company using marketing mix 7P's.
Further study concluded that in order to launch new product i.e. new energy drink in market,
company has to follow marketing plan.
6

REFERENCES
Books and Journals
Fan, S., Lau, R. Y. and Zhao, J. L., 2015. Demystifying Big Data Analytics For Business
Intelligence Through The Lens Of Marketing Mix. Big Data Research.2(1). Pp.28-32.
Hamzah, S. B. And Sutanto, J. E., 2016. The Role Of Marketing Mix (7P) For Consumer Buying
Decision Pastry Cake In Malang City.
Malhotra, N. K., 2015. Essentials Of Marketing Research: A Hands-On Orientation. Essex:
Pearson.
Okumus, B. and Cetin, G., 2018. Marketing Istanbul As A Culinary Destination. Journal Of
Destination Marketing & Management. 9. pp.340-346.
Pike, S., 2015. Destination Marketing: Essentials. Routledge.
Purvis, J., 2015. Human Resources Marketing And Recruiting: Essentials Of Digital
Recruiting. Handbook Of Human Resources Management. pp.1-19.
Online
STP of Marks and Spencer. 2018. [Online]. Available through:
<https://www.google.com/searchq=STP+of+marks+and+Spencer&oq=STP+of+marks+a
nd+Spencer&aqs=chrome..69i57j0.5591j0j7&sourceid=chrome&ie=UTF-8>.
The Marketing Mix 4P’s and 7P’s Explained. 2018. [Online]. Available through:
<https://marketingmix.co.uk/>.
7