Marketing Report: Analysis of Marks and Spencer's Marketing Strategies

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This report provides a comprehensive analysis of Marks and Spencer's marketing operations. It begins with an introduction outlining the company's background and the scope of the report. The main body delves into the key roles and responsibilities of the marketing function, emphasizing customer needs, trend tracking, sales process improvement, budget management, campaign management, promotional materials, social media management, and vendor oversight. The report then explores the interrelationship between marketing and other functional units within the organization, highlighting the importance of collaboration with finance, production, and human resources. A comparative assessment of marketing mix factors, including product, price, place, and promotion, is presented, evaluating Marks and Spencer against competitors like Tesco. Finally, the report concludes with an overview of a marketing plan. The report demonstrates the significance of marketing in achieving organizational success.
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Unit 2 Marketing Essentials
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Table of Contents
INTRODUCTION.....................................................................................................................................3
MAIN BODY............................................................................................................................................3
Key roles and responsibilities of marketing function.........................................................................3
Interrelationship between marketing and other functional units......................................................6
Comparative assessment of marketing mix factors...........................................................................7
P4. Marketing plan...........................................................................................................................11
CONCLUSION.......................................................................................................................................12
REFERENCES.........................................................................................................................................12
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INTRODUCTION
Marketing is defined as promoting company’s products and services in front of the
potential customers associated with the market. This report is based on the case study of the
Marks and Spencer Company in respect to the marketing operations of the organisation. The
organisation was established in the year 1884 by the founders Michael Marks and Thomas
Spencer. Headquarter of the company is located in United Kingdom. Compaq has been
engaged selling in high quality clothing, food products and home products. The organization
has been engaging in catering its operations at approximately 14000 business locations at a
global level. This report would address the marketing operations of the organisation.
Henceforth, report will emphasis on the marketing process of the company. The purpose and
function of the marketing operation will demonstrate in this project. Inter relationship of the
marketing department with other functional department would be projected in this report. The
comparative analysis of the Marks and Spencer Company with other competitors based on
the elements of marketing mix. Furthermore, this report will demonstrate about the precise
marketing plan.
MAIN BODY
Key roles and responsibilities of marketing function
Marketing function plays a major role in the success of the organisations. Marks and
Spencer identify the following roles and responsibilities of the marketing function:
Listening to the needs of the customers
This proves to be very significant in establishing the marketing strategy as it is must
for the company to get closer to the clients and listen to them in person or through online
sources to analyse their needs and demands. This is the task of the marketing department to
plan the required means for getting the feedbacks of the customers. The marketing
department of Marks and Spencer using two approaches which are through internal channels
and form outside the company. In the internal channels, they focus on creating the surveys or
capturing the information of the sales team and the customer support team which helps to
redirect the strategies whereas from the channels outside the company the marketing
department perform searches and implement certain actions in the social networks in
understanding the needs of the users for converting them into customers (Jacobs and
Karpova, 2020).
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Track trends and monitor competition
This is the responsibility of the marketing department to collect the information which
can help the company to be aware about its own position in the market and the competitors
which are trying to lead the company by any means. They watch the competition and also
analyses the things they do better along with evaluating the risks which can be faced. This
also aware M&S about its competitors like Tesco, Aldi, Asda and many more in UK.
Improving the processes of sales and the customers
This is must for the marketing department to be aware about the feelings of the
customers. For this the employees of this department in M&S must try to come in direct
contact with the customers so that they can know about what actually the customers need and
their expectations from the company (Aschemann-Witzel, De Hooge and Normann, 2016).
Marketing department is the one which comes in contact with the clients and customers so
they can give the information about their needs to the company and they can be able to
produce the products accordingly which can satisfy them. This increases the customers as
well as sales of the companies like Marks and Spencer.
Managing the marketing budgets and calculating the ROI on the actions of the
company
The marketing function requires a sufficient amount of capital for carrying out
marketing activities. So, it is the major responsibility of the marketing department of the
Marks and Spencer is to manage the budget and must try to perform all the activities in the
budget of the company as it can affect the overall operations of the company. The marketing
department of M&S must be able to plan its budget for the activities to be performed in the
next year in order to ensure a positive ROI. It must realise that the marketing activities are
basically the investment of money, efforts and time so it must be monitored such that actions
can be measured and the intended objectives can be achieved.
Conducting campaign management for the marketing initiatives
The marketing function helps in identifying the products and services for focusing on
over the course of the sales cycle and then advices the other department for producing the
materials and communications that helps in getting the word out. The marketing department
of M&S also play this role very efficiently as the campaigns help in making the large number
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of people aware of the products and services of the company and also motivates them to
make a purchase.
Producing marketing and promotional materials
This is the responsibility of the marketing department of the companies for creating
the materials which describes and promotes the core products and services. This must be
updated as there is evolvement in the products and services. As the demands of the customers
fluctuate rapidly which makes this necessary for the company to carry out the processes of
marketing of those materials which can satisfy the needs and the fluctuating demands of the
customers. As the people of UK are becoming more health-conscious so Marks and Spencer
must promote the organic food products which creates a sense of loyalty in the customers
(Welch, Swaffield and Evans, 2018).
Monitoring and managing the social media
In today’s era where the trend of digital media and internet is increasing day by day,
the marketing department of M&S must play its role by managing and monitoring the social
media pages and all the accounts of the company on the various social networking sites. This
helps in keeping a check on all the posts which are uploaded regarding the company. This
helps in reaching large number of people and convert them into customers as most of the
people are active on the social networking sites (Hocknell and et.al., 2018). So, in order to
make a decision regarding the purchase, customers search on the different sites and websites
for making purchase. M&S must expand its online presence and must be active and updated
on the various platforms.
Overseeing the vendors and agencies from outside
This is the responsibility of the marketing department of the company to select and
manage the vendors and the agencies who helps in producing the marketing materials by
providing the marketing support (Gunn, Cappuccitti and Lee, 2020). These may generally
comprise of the print vendors, ad agencies, PR specialists or agencies and the Web provides
etc.
Producing the internal communications
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It is must for the employees of M&S for understanding the company, its goals, its
values and the priorities. For this, the marketing department must think to communicate with
the employees in the best possible way. This also makes the marketing function responsible
for enhancing the employee communications through intranet or the newsletter.
The marketing department of M&S must focus on all the roles and responsibilities which can
help in implementing the functions of the company to increase the customer base and the
overall profitability.
Interrelationship between marketing and other functional units
The marketing function of the companies helps in identifying and sourcing the
potentially successful products especially for the market and then helps in its promotion. The
marketing function such as marketing research, development process, sales, promotion,
customer service, finance etc. are responsible for the company’s growth. The functions of the
marketing are a part of the business organisations like Marks and Spencer due to which the
other operational and functional units are connected to it in order to increase its efficiency
and the productivity. For example, when the company needs to develop and implement a
marketing plan then the marketing department requires the complete support of the financial
department, human resource department production department and the sales department.
Though the department of marketing is considered as the separate entity but it must be linked
with the other functional units for increasing the company’s profitability. The main aim of the
marketing department is to gain larger profits which can only be achieved by the
effectiveness communication between all these departments (Eid and et.al., 201). The finance
department provides all the economic resources in the processes of planning, research,
implementation and the marketing strategies’ evaluation. This is why it is must for the
companies like marks and spencer to ensure that their marketing department works by proper
communicating with the financial department as it also helps in developing the budget for the
marketing investments. The marketing department must also link with the production
department who further connects with logistics department for fulfilling the demand and
supply of the products and services. The department responsible for production provides
accurate description regarding the products and services which are basically required for the
development and implementation of the marketing plan. Also, it must be interrelated with the
human resource from the HR department as the policies of HR are generated only according
to the market trends, target customers and the sales. Furthermore, the marketing department
of M&S is also aware of the inventory of the raw materials or the company’s production
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capacity as if it is not it can lead to great loss and blunder to the company. This is how, the
marketing function of organisations like M&S are interrelated with the other functional units
to increase the overall productivity and the profitability of the company.
Comparative assessment of marketing mix factors
Marketing mix factors Marks and Spencer
Company
Tesco Company
Product Marks and Spencer Company
offer different products
associated with the food
segment, clothing range and
different home products.
The product line of the
company is well diversified
as it cater the needs and
requirements of all types of
customers irrespective of any
specific gender, age group
and other form of
differentiation on the ground
of different social factors
(Batzer, 2019).
It can be projected that in
comparison to the Tesco
Company it offer better
products of all the top brands
associated with the market.
Marks and Spencer Company
is good known for its product
portfolio which make the
company more attractive in
context to the organisation.
Company also form strategic
alliances and partnership
with other brands and
companies to expand the
product portfolio of the
organisation so that company
can compete more
aggressively with the Tesco
Company.
Tesco Company offers
products in food segment,
clothing line and some of the
home products.
The comparative analysis of
the product portfolio of the
Tesco Company with the
Marks and Spencer Company
can state that it is not able to
deliver the more number of
products to its customers.
As the Marks and Spencer
Company is bigger brand as
compare to the Tesco
Company which also allowed
the organisation to expand
the product portfolio of
company more advanced in
comparison to the Tesco
Company.
Price Price is another element that
involve in the marketing mix
which influence the
performance of the company
in the associated market.
Marks and Spencer Company
is good known for its
Tesco Company also follows
the practice where company
deliver the products at the
best price possible.
Pricing strategy of the
company allow the
organisation to take
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effective pricing policies that
favours the potential
customers of the company.
Management at the Marks
and Spencer Company follow
the discount policies ad
strategies that make the picas
of company more favourable
and comfortable for the
customers in the market.
Company also give festive
discounts to its customers
that further improve the
economic aspect of the
products.
It can be projected that
pricing policy of the
company makes the product
more affordable for the
customers that allow the
company to take competitive
advantage against the Tesco
Company.
As the Marks and Spencer
Company is big brand which
allowed the organisation to
provide such extra discount
as comparison to the Tesco
Company that allow the
company to influence the
buying decision making of
the customers.
competitive advantage in
favour of the organization.
In comparison to the Marks
and Spencer Company it is
not able to allow the
aggressive discounts to the
potential customers available
in market (Smith, 2019).
Company offer discount but
in a certain limitation that
make the Marks and Spencer
Company to take the
competitive advantage
against the Tesco Company
which further improve the
growth of the company.
Place Marks and Spencer Company
is operating its business at a
global level by running its
stores at approximately
14000 locations at a global
level.
Company is currently
operating at more number of
locations as compare to the
Tesco Company which is
operating at approximately
6000 location in comparison
to the Marks and Spencer
Company that is operating at
the 14000 business locations
(Haji, RAHMANI and
ANSARI, 2018).
The area served by the Marks
Tesco Company is currently
active at the 6000 locations at
a global level.
Company also available over
the internet in form of e-
commerce mode of business.
As comparison to the Marks
and Spencer Company it can
be projected that it is
operating at limited number
of locations at a global level
which allow the Marks and
Spencer Company to take
competitive advantage
against the Tesco Company.
The business scale of the
company is limited which
make the organisation more
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and Spencer Company make
it more aggressive in
comparison to the Tesco
Company in achieving the
objectives of the business.
Company is also active over
the e-commerce platform to
conduct the business
transaction which further
makes the company more
competitive in against to the
Tesco Company for
delivering the business
operations.
restricted in comparison to
the Tesco Company for
achieving the business
objectives.
Promotion Marks and Spencer Company
usage the concept of the
social media marketing
where company deliver its
marketing campaign different
social media handle such as
Facebook, Instagram and
other such platform.
Company also deliver its
marketing campaign over the
digital platforms like
Amazon, Netflix and other
such platform to achieve the
competitive advantage in the
business operations.
The comparative analysis
between the Tesco Company
and Marks and Spencer
Company are projected hat it
emphasis more over using
the modern technologies and
tools to promote the products
of the company.
The emphasis over the
modern and latest technology
in promoting company’s
products makes it more
competitive in favour of the
customers.
Tesco Company promotes its
products over social media
platform, digital mediums
and other such model of
promotion.
The emphasis of the
company is more over the
traditional model of
promotion like radio,
television and other such
models.
In comparison to the Marks
and Spencer Company it is
more active over the
traditional platforms of
promotions in selling the
products of company
(Mccarthy, 2016).
Company is also utilises the
search engine for promotion
that is not actively used by
the Marks and Spencer
Company which also allowed
the company to take
competitive advantages in the
associated target market.
Physical evidence Marks and Spencer Company
offer the best quality
products that can meet the
needs and requirements of
the potential customers
associated with the target
market.
Tesco Company also favours
the physical evidence which
drive the company to deliver
the products that can match
the quality standards of
company.
It has successfully delivered
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Company follow the concept
of total quality management
that support the Marks and
Spencer Company in
achieving the best level of
quality products in favour of
the organisation (Sohrabi and
et.al., 2020).
As comparison to the Tesco
Company the practices of the
company are more
favourable in context to the
physical evidences which
further allowed the company
in taking competitive
advantages against the Tesco
Company.
the quality products in favour
of the potential customers
available in market.
Process Marks and Spencer Company
follow the precise process of
segmentation, targeting and
positioning for promoting the
products offer by company.
The process makes it more
competitive in comparison to
the Tesco Company.
Company also follow the
process of quality
management to meet the
quality requirements of the
potential customers
associated with the Marks
and Spencer Company.
Tesco Company also follow
the process where company
ensure the best quality
products.
Company also follow the
equal approaches like
segmentation, target9ng and
positioning to promote the
products offer by Tesco
Company in comparison to
the Marks and Spencer
Company (ALLISON, 2018).
People Company is associated with
every types of customers
available in market.
Irrespective to the gender and
age factor company offer the
product that can meet the
requirements of all types of
potential customers available
in market.
Company meet the needs and
requirements of more number
of people in comparison to
the Tesco Company that has
also allowed the organization
to take competitive
advantage against the Tesco
Company.
Tesco Company offer
different products such as
food, clothing and other retail
products that can meet the
needs and requirements of all
different peoples.
As the company is operating
at only 6000 locations where
as the Marks and Spencer
Company available at
approximately 14000
locations that allow the
organisation to cater lesser
number of people in
comparison to the Marks and
Spencer Company.
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P4. Marketing plan
Aim
To increase the 30% hike in the sales of company.
Smart Objectives
The objective is to achieve the sales growth of 30% is specific.
The sales growth can be measured by the company.
The 30% growth in sales turnover of company is achievable in nature.
It is realistic with the support of effective strategies of promotion to gain the sales
boost of 30%.
Company will try to achieve the sales target within one year.
Marketing strategies
Company will follow the following strategies to promote its products.
Social media marketing: Social media marketing will involve promotion over Facebook
and Instagram and other such social media platforms.
Digital marketing: Company will approach to platforms like YouTube, Netflix, Amazon
Prime and other such platforms to achieve the sales growth. This strategy will involve
precise marketing content over all these above mentioned platforms. Digital promotion is
probably one of the major platform of marketing and promotion that is utilised by business
entity in this marketing campaign.
Email marketing: Company will offer discounts to its existing and loyal customers thrugh
email for achieving the sales target. This will involve seding disocunt offers over email to
all existing customers of company. This practice is used only for existing customer base of
business entity.
Search engine optimisation: Company will also deliver the strategies with the support of
search engine optimisation. This strategy will boost the internet searches of company.
Rattings will also improve under this practice of company.
Radio and television marketing: Marks and Spencer Company will also promote its
marketing plan over radio station and television channels specially over sports channel
where the potential customers of company are much active (Ananda and et.al., 2016).
The above mentioned strategies will be associated with the marketing plan. These
strategies would allow the company to achieve its sales growth.
STP Approaches in plan
Segmentation
Company will segment its products on the ground of income, demographic and
other such approach to segment the products of company (Sahaf, 2019). This strategy is
suitable in favour of the Marks and Spencer Company.
Targeting
Company will target all types of customers irrespective of age group, income and
other such factors. Target customer will be all types of potential customers available in
market.
Positioning
Company will position its products over social media and e-commerce platform to
achieve the targets. All different marketing channels will favour the business entity to
position its product in market.
Budget
This plan will be required £ 500000. Planning will involve 50000, implementation
will cost to 350000 and evaluation will cost to 100000.
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CONCLUSION
The above report focussed on the marketing activities of Marks and Spencer which is
a well-known retailer company in UK. It shed light on the roles and responsibilities of the
marketing function and also its interrelation with the other functional units of the organisation
such as the production department, finance and the Human Resource department. Also, the
marketing mix of two most famous companies was compared which were Marks and Spencer
and Tesco. Finally, after evaluating all these, marketing plan was developed for marks and
spencer.
REFERENCES
Books and Journals
ALLISON, B. A., 2018. Operationalizing Social Media: A Method For Incorporating Social
Media In Department Of Defense Plans. NDU/Joint Forces Staff College
NORFOLK United States.
Ananda, A. S. and et.al., 2016. N-REL: A comprehensive framework of social media
marketing strategic actions for marketing organizations. Journal of Innovation &
Knowledge. 1(3). pp.170-180.
Aschemann-Witzel, J., De Hooge, I. and Normann, A., 2016. Consumer-related food waste:
Role of food marketing and retailers and potential for action. Journal of
International Food & Agribusiness Marketing. 28(3). pp.271-285.
Batzer, E., 2019. Marketing strategies and distribution channels for foreign companies in
Japan. Routledge.
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