Marketing Essentials Report: Comparing M&S and Zara Marketing Plans

This report delves into the core concepts of marketing, examining the key roles and responsibilities of the marketing function within an organization, with a specific focus on Marks and Spencer. It analyzes the significance of marketing within the broader organizational context, emphasizing its interrelationships with other functional units like Human Resources and Research & Development. The report also explores the application of the marketing mix (product, price, place, and promotion) in marketing planning processes, comparing the strategies of Marks and Spencer and Zara. Furthermore, it includes the development of a detailed marketing plan for launching a new product, incorporating the 7 Ps of marketing to achieve overall marketing objectives. The report concludes with an evaluation of various tactics employed to demonstrate how business objectives are achieved.

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
P1. Key roles and responsibilities of marketing function.......................................................1
M1 Analyse the role & responsibilities of marketing with regards to marketing environment..3
P2. Roles and responsibilities of marketing in relation to wider organisational context.......3
M2 Makes a analysis of significance of interrelationship between marketing & other
functional units.......................................................................................................................4
P3. Ways in which 2 organisations apply marketing mix to marketing planning process for
achieving corporate objectives...............................................................................................4
M3 Evaluation of various tactics applied in a organisation for demonstrating how business
objectives are achieved...........................................................................................................6
P4. Marketing Plan for the launch of a new product at market place....................................6
M4 Produce a detailed evidence based marketing plan for organisation.............................12
D2 Design a strategic marketing plan applying use of 7 P for achievement of overall
marketing objectives.............................................................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Marketing is termed as the initiatives and efforts that are being undertaken by an
organisation with an aim to ensure healthy relationship with consumers as well as profitability.
By doing this business activity entity also aim towards making individuals aware about services
and products that are sold by organisations within marketplace (Abedi and Abedini, 2017).
Marketing is thus turn out be a route way that increase entity existing level of sales and revenues.
By indulging in marketing activities organisation aim towards meeting needs and demand of
customers as per according to their preference aim gain their loyalty subsequently. Through this,
organisation effectively succeeds in building loyal consumer base those who are not willing
towards to shift alternative brand.
Present report is conducted as to take an insight about marketing practices and activities
with Marks and Spencer. A major British multinational retailing organisation operate their
service while being headquartered in London, United Kingdom. Company was founded in the
year 1884 and offer their service worldwide. In this report formative discussions has been made
on, roles and responsibilities of marketing function. Along with this, report include marketing
mix application application to marketing planning process. Lastly, marketing plan is being
covered in this report as to launch new product within marketplace.
P1. Key roles and responsibilities of marketing function
Marketing is defined as a accumulation of process that aim towards development,
awareness and transmission of services and products that are being sold by organisation within
marketplace (Okumus and Cetin, 2018). By undertaking use of effective marketing practices
application organisation can effectively able to build its goodwill within marketplace.
Roles and responsibilties of marketing function
Marketing hold different roles as well as responsibilities within organisational workplace
structure and play primary role within business functioning that effectively stimulate
organisation to develop positive relationship with numerous stakeholders of entity. Another role
of marketing is to undertake promotional strategies with the help of which organisation can
develop its image in positive manner within marketplace. Marketing benefit entity to make
significant boost in their existing sales level. In relation with Marks and Spencer, marketing act
as prominent factor that play various roles as well responsibilities that are being defined below:
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In this modern world, there is a presence of hyper-competitive environment of marketing,
in this primary way through which an organisation can attain success is to create a premium
brand that comes into minds of consumers as a result of recall for any particular services and
products. In relation to this, marketing unit of Marks and Spencer is required to perform the role
to effectively evaluate need to conduct branding and then formulate emotional connection with
individuals. This will significantly aid company to make significant increase in organisational
competitiveness within international marketplace and respective industry. Along with this,
marketing department have responsibility to duly build and maintain formative trust as well as
faith among individuals in relation with organisational brand. In addition to this, this function
engage in the process of conducting advertisements as to attract large base of consumer attraction
with am aim to gain extensive competitive image within marketplace.
Awareness is also termed as key essential factor of marketing function that aim towards
creating awareness about brand within marketplace. In relation with this, Marks and Spencer
marketing unit required to conduct the role related to making consumer aware about every
required information related to organisation product and services. In addition to this,
responsibility that has been hold by marketing is to formulate key decisions that offer aid to
Marks and Spencer as to devise strategies and policies as to create awareness about products and
services of company. It has been analysed that, When a brand gets popular among individuals
probability to increase sales and revnue of also increase. Thus, it has been determined that
awareness benefit Marks and Spencer to ensure long term sustainability, growth and
advancements in global retailing sector.
Market research play significant role within marketing in which organisation engage in
the process of comprehensive researching related to analysing latest trends and techniques within
marketplace. Main reason to execute this function is to make formative comparison about Marks
and Spencer offerings against other competative rivals. In context with this, role of company
marketing unit is to conduct research and evlauate unique ideas related to new strategies and
product development. Along with this, marketing function hold responsibility to evaluate need
for researching and later identify reliable sources in order to conduct effective market study.
Marketing strategies this factor play important role in the process of marketing within
which entity conduct functions related to developing marketing strategies as well as planning. In
this managers of Marks and Spencer are required to effectively engage in the process of targeting
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customers and analyse their need and demand as to develop strategies as to provide them
effective products and services. This will significantly help them to gain significant opportunities
from marketplace.
Rationale behind use of marketing in Marks and Spencer
Each and every organisation undertake use of marketing research as to attraction
attentioned of large base of customers towards organisational offerings. Marks and Spencer
engage in the extensive marketing research as to identify needs and wants of consumers and
undertake effective measures as to satisfy their needs in a well defined manner. In addition to
this, it also benefit entity to analyse current prevailing trend within marketing environment and
formulate strategies as to gain competative edge. In addition to this, with the help of social media
marketing Marks and Spencer fulfil societal responsibilities as to provide welfare to large base of
individuals. Thus, it has been determined that with the help of this process company can ensure
long term sustanability and profitability within marketplace.
M1 Analyse the role & responsibilities of marketing with regards to marketing environment
Marketing functions consist of various roles and responsibilities of a business. Such
functions are very crucial for overall growth of a company (Uchino, 2018). Key roles &
responsibilities of marketing function include function such as researching, fulfilment of
financial requirement, development of product, distribution of products, communication to
customers by creating f awareness regarding newly made launches etc. all such are roles of a
marketers while performing their marketing functions. With reference to marketing environment
most important responsibility of marketing department is collecting information of demands and
expectations of target market so that such demands can be fulfilled in effective manner.
P2. Roles and responsibilities of marketing in relation to wider organisational context
Marketing is termed as an crucial unit that aim towards attracting large base of customers
towards organisational products and services as to increase profitability of firm. In relation to
this, Marks and Spencer operate their functioning as large scale retailing organisation with
having headquarter in United Kingdom and offer their services worldwide. Thus, in order to
effectively manage their operations all around the globe, it is essential for Marks and Spencer to
ensure effective interrelationship among marketing and different units as to ensure effective
management of activities at global scale.
Interrelationship between business functions
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Human resource department play significant role in an organisation as this unit engage in
the function of recruitment, training, selection & development of employees as to ensure
maximum output from workforce. It has been determined that, Marketing and Human resource
department operate their functioning with formative interrelationship. As in order to conduct
marketing activities marketing department seeks out for talented and potential candidates, in this
HR department benefit this unit by fulfilling their demand. This not only aid marketing unit to
conduct their operations in a well defined way but also benefit Marks & Spencer to ensure long
term competitive advancements.
Research & Development department also play key essential role within an organisation,
as this unit hold most important responsibilities which is to determine ideas related to new
product development procedure. In context with Marks & Spencer, the feasibility of idea for
NPD process is being determined with the help of R&D department while research and logistics
is carried out by way of marketing. With the help of this interrelationship company aim towards
reaching out to large base of consumer by offering them effective products and services of
company with an aim to increase revenue generation rate of entity. With the help of this
interrelationship Marks & Spencer ensure competitive advancements in retailing segment and
accomplishment of company goals and objectives in a well defined and effective manner.
M2 Makes a analysis of significance of interrelationship between marketing & other functional
units
There is a great significance of understanding the overall interrelationship exiting
between different functional units in a organisation. This type of interrelationship is very helpful
in understanding of external markets, demands of various consumers, building up of long term
relations, strategy that is market driven etc. Hence, if there will be interrelationship of marketing
function with other departments then it will result in smoothness in overall functioning of
marketing department. Such as human resource department will help in hiring of potential
candidates, finance department will provide required finance. Hence, all these departments are
very helpful in formation and execution of marketing strategies.
P3. Ways in which 2 organisations apply marketing mix to marketing planning process for
achieving corporate objectives
Marketing mix involve different types of factors such as price, place, product and
promotion tat are required to be effectively undertake by organisation in order to successfully
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meet organisational goals and objectives. In relation with this, comparative study of marketing
mix of 2 companies Marks and Spencer and Zara is being conducted with an aim to gain insight
about knowledge of the areas in which organisation is required to frame strategies related to
growth and welfare of entity. Mentioned below formative comparison of both entities is being
defined below:
Marks and Spencer conduct their services as multinational retailing organisation.
Company offer different types of products and services to customers. In addition to this, it has
been determined that product range like clothing, furniture, home ware is being offered by entity
to their customers (Manion and Widder, 2017). While on the other hand, Zara conduct their
functioning as apparel retailer. Company is holding specialize in fast fashion with the product
range of beauty, clothing, perfumes, shoes and swimwear.
It has been analysed that Marks and Spencer is having presence in both online and
physical stores through which they satisfy their customers with best offerings. Company is
having more than 900 stores in UK. While, Zara offer their services 24*7 via online medium
along with stores.
Marks and Spencer undertake advantage of low pricing strategies as to duly gain
attention of large base of customers. Some of the products and services of customers have
different price range comparatively to UK and Asian countries. While, Zara offer their products
and services to customers in a affordable price range.
Marks and Spencer undertake use of effectively strategical and marketing practices as to
attract attention of large consumer base (Cluley, 2018). In addition to this, it has been determined
that direct advertisement is company core promotional activity. While on the other hand, Zara
use offline and online promotion via social and print media.
Marks and Spencer conduct their services with having 80,787 employees. In order to
effectively manage them company take advantage of training and development techniques as to
manage organisational functions in a well defined manner. While, Zara aim towards offering
equal opportunities. This can be evaluated by significant increase of 12% of female employees
within organisation all around the world.
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M3 Evaluation of various tactics applied in a organisation for demonstrating how business
objectives are achieved
Various tactics are involved in the organisation which involves the needs and wants of
the customers for the particular product and services (Chang and Chen, 2017). It could establish
the predefined goals and objectives to achieve the growth in the future. Further, it could
implement the basic plans for the better strategy that leads to the advancement in the new
technology. In context to Marks and Spencer, it could improve the quality services of the product
to achieve their mission and goals. It provides the professional training in order to improve the
skills and knowledge of the employees.
P4. Marketing Plan for the launch of a new product at market place
Marketing plan is defined as a formal documentation that lay out plan with an aim to
acquire formative knowledge related to current micro as well as macro business environment
situation. With this company ensure formulation of formulation of best effective strategies. In
addition to this, it also help organisation to bring particular product and services within
marketplace (Srinivasan and Humes, 2017). Marketing plan involve different types of factors
that offer entity an idea related to effectively promoting organisational offerings around the
globe as to ensure profitability.
Marks and Spencer a multinational organisation conduct their business operations at
retailing sector and offer wide range of products under its own name and via its brands.
Organisation specialises is selling high quality fashion products, home products, furniture and
food products etc. by analysing high competition within marketplace company is looking
forward to bring a new product “Marks and Spencer Robotic Furniture”. Entity is planning to
launch this product within United Kingdom provinces with an aim to make expansion in their
customer base.
In order to successfully launch this product within marketplace, Marks and Spencer
marketing manager formulated detailed marketing plan with an aim to create awareness among
individuals related to new product offering of organisation within marketplace with the use of
effective promotional tools. Mentioned below marketing plan of Marks and Spencer is being
defined below:
Marketing Plan
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Overview of the organisation: Marks & Spencer conduct their services as a British
leading organisation while offering their services worldwide. Product range of company include
high quality clothings, food and home products. Organisation was established in the year 1884
and offer high quality products and services to their customers. Marks & Spencer currently have
959 stores across United Kingdom through which fulfil customers demand in best effective way.
Current organisational offerings:Organisation engage in the offering of clothing, home
ware, furniture, beauty products and more to customers. Company offer their products and
services with high standards and quality in order to ensure loyalty base of customers in a well
defined way.
Overview of the New Product: Company is planning to offer new product “Marks and
Spencer Robotic Furniture” within UK marketplace. This product is being developed by entity
by keeping customers needs and demand in a well defined manner. In today's world individual
mainly prefer to live in a confined space. By looking this, Marks and Spencer developed robotic
furniture for people in United Kingdom. This individuals with the facility to use this furniture in
a small space. In addition to this, it has been evaluated that it provide consumers within a change
to effectively transform their small space into smart space and enjoy ease, comfort and
convenience.
lustration 1: Proposed Structure of Robotic Furniture
(Source: Self Generated)
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Vision: In order to effectively launch new product within UK provinces, M & S have mentioned
below vision:
Mission: As to launch Robotic Furniture within marketplace, company laid down mission:
Objectives: In order to conduct activities and functions of marketing plan, organisation is
required to set formative target with the help of which objectives can be conducted in a well
defined way. In order to successfully launch Marks and Spencer Robotic Furniture, marketing
manager of company framed SMART objectives:
“ To increase overall marketing share holding of company within UK by 15% by
upcoming 1.5 year via bringing new product in marketplace.
Micro environmental analysis: In order to evaluate strength, weaknesses, threat and
opportunities that are prevailing in marketplace, marketing manager of Marks and Spencer
conduct internal analysis by taking use of SWOT.
Strengths Weaknesses
 Marks and Spencer conduct their
services in marketplace and have high
brand value as well as significant
market share holding in retailing
industry.
 Company have talented, skilled and
potential employees that acts as major
source for entity revenue generation.
 With having attractive advertisement
techniques, company lure customers
from different geographical locations
in best effective manner.
 Company offer comparatively less
product range to their customers. This
is major weaknesses that can stimulate
customers to shift their mind towards
other brands within marketplace.
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Opportunities Threats
 Marks and Spencer can take advantage
of the opportunity to expand their
business services in Asian countries
(Uddin and Khan, 2018).
 By undertaking use of innovative ideas
and strategies, company can undertake
this growth opportunity as to make
increase in their overall sales volume.
 In United Kingdom there is a presence
of already existing organisations like
Zara, Gucci etc. those who offer
qualitative products and services to
customers.
Macro Environmental Analysis: In order to ensure effectively organisational operations
while aiming towards high growth. It is essential for company to examine factors within micro
environment. In relation with this, PESTLE analysis in context with Marks & Spencer is being
defined below:
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STP: STP act as one of the most important element of marketing plan that aim towards
significantly place products of organisation among target set of audience. In relation with this,
Marks & Spencer marketing manager undertakes STP analysis in context with Robotic Furniture:
Element Definition Description
Segmentation Segmentation is defined as a
process to evaluate a base in
order to divide market.
There are mainly four ways through which
segmentation can be done that are
geographic, behavioural, demographic and
psycho-graphic. In context with Marks and
Spencer, company segment marketplace for
their new product as per according to
economic status which is a demographical
aspect.
Targeting Targeting is termed as a
process to identify appealing
segments as per according to
segmentation.
In order to launch their product within
marketplace company target both upper
middle class and elite class within provinces
of United Kingdom.
Positioning Within positioning organisation
engage in the process to assess
their competitive edge within
marketplace and then undertake
use of innovative techniques as
well as tools in order to place
themselves within consumers
mindset.
In order to position their new Robotic
Furniture within marketplace Marks and
Spencer, marketing manager undertake use of
newspapers, social media and broadcast media
marketing. By taking advantage of all these
measures company aim towards accelerating
their growth, sales volume and revenue
generation capability.
Marketing Mix: Main aim of marketing manager of Marks & Spencer is to offer high
qualitative products and services to customers in a price effective range. For this, company
undertake use of extensive promotional channels, strategical advantage and pricing strategies. In
context with Robotic Furniture, marketing mix of company is being mentioned below in a
defined manner.
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Marketing
Mix
Description
Product Marks and Spencer is looking forwards to bring their new product Robotic
Furniture within UK marketplace for upper middle class as well as elite
sections of society. This product provide facility to customers in respect of
using this furniture in small space.
Promotion In order to promote their product among customers, company is taking
advantage of broadcast media, T.V, radio and social media.
Price In order to increase sale of organisation in a well defined manner while
bringing their new product Marks and Spencer Robotic Furniture company is
going to take advantage of Premium pricing strategy.
Place In order to reach out customers, company at initial stage limited to UK.
Further when this product reach to successful heights company will make
expansion in their geographical area.
Process Company will provide facility of after service sale to their customers in
context with Robotic Furniture. By undertaking this process company aim
towards increase in sales.
People The personnel indulged in production of Robotic Furniture would be given
prior training to ensure that it is designed to make the user feel at ease at all
times.
Physical
Evidence
The physical evidence for the new product launched by Marks & Spencer
would be the receipt of high customer contentment after use of Robotic
Furniture by them.
Budget: By undertaking use of well effective budget company can effectively conduct
their services within proper cost (Eletxigerra and et. al., 2018). In context with launch of Marks
& Spencer Robotic Furniture, formative budget is being defined below:
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MARKETING BUDGET (in £)
PARTICULARS I Year II Year III Year IV Year V Year
Initial money 4050 7425 12230 14370 20890
Investment 8350 11525 23920 31540 12570
TOTAL 12400 18950 36180 45910 33460
MARKETING OUTLAY
Promotion 4647 2600 4691 1976 2113
Sales publicity 1366 805 2453 1493 1052
Direct selling 3136 1806 4752 2005 4331
TOTAL 9149 4171 11899 5474 7500
Monitoring and Control:
In order to ensure success of marketing plan, it is important for company to undertake use
of strategical measures. In addition to this, company is required to make sure that placement of
KPI as well as benchmarking is done. With the help of this company can effectively able to
monitor and control activities within plan in well defined manner. Along with this, to execute
controlling and monitoring techniques according to requirements, it is essential to assign metrics
such as marketing information metrics and deliberate to marketing objectives. With the help of
this, marketing management of Marks & Spencer can effectively able to evaluate and review
their process to effectively stipulate marketing plan in well defined manner. This effectively
ensure company to undertake use of best effective actions within time efficient manner and
overcome any issue within time as to successfully launch Robotic Furniture in UK marketplace
in best effective manner.
M4 Produce a detailed evidence based marketing plan for organisation
Marketing plan is very important document which is used for achievement of various laid
down objectives. These are very helpful in laying down short term objectives (Chuang and Hu,
2017). In present scenario, a marketing plan has been prepared for Marks & Spencer where
vision, mission and overall objectives help in forming different strategies required for achieving
of various laid down objectives. There is use of marketing mix, STP analysis for making
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decision regarding which strategy is appropriate with reference to present market conditions.
Financial resources are also assigned by the finance department of the company and further there
is monitoring & controlling measures specified to monitor performance level and deviation
occurring between set performance standards and actual level of performance.
D2 Design a strategic marketing plan applying use of 7 P for achievement of overall marketing
objectives
7 P's of marketing mix helps to achieve the goals and objectives for the growth of an
organisation. The product could be of quality and affordable for the society. Promotion of the
products involves the various ways such as by social media and Radio etc. Price of the product
could be affordable for the customers for buying (Brychkov and Domegan, 2017). Place is also
important in marketing to be successful in the future. With reference to Marks and Spencer, the
employees would be given the best training that requires the product to be more innovative and
designed for the avail customers.
CONCLUSION
As per the above mentioned report, it has been concluded that marketing acts as one of
the most prominent aspect of an organisation that stimulate business growth in a progressive
direction. By undertaking use of effective marketing practices and measures company can
effectively able to strengthen their brand image within marketplace and can ensure high
profitable advancements in best effective manner. In addition to this, it has been evaluated that in
order to conduct all the functions and operations smoothly, company is required to make sure
that there is formative interrelationship between functions as this will effectively lead
organisation to ensure high growth in marketplace. In addition to this, it has been identified that
with the use of Marketing mix organisation can effectively able to gain knowledge formative
insight about competitors strategic edge that aid entity to ensure more competitive
advancements. Further with the help of marketing plan company can effectively able to launch
their new product within market in a well defined manner that automatically increase
organisation profitability and productivity in best effective manner.
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Online
M&S FURNITURE STORE FINDER. 2020. [Online] Available
Throgh<https://www.marksandspencer.com/c/furniture/furniture-store-guide>
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