Strategic Marketing Plan for Ethnic Wear at Mark & Spencer

This report outlines a marketing plan for Mark & Spencer's launch of a new ethnic wear line, targeting all age generations with a focus on special occasions. The plan includes a situational analysis using SWOT to assess strengths, weaknesses, opportunities, and threats, as well as STP analysis for segmentation, targeting, and positioning. Marketing tactics incorporate the 4 P's (Product, Price, Place, Promotion) with a detailed budget allocation. The plan emphasizes controlling and monitoring performance using Key Performance Indicators (KPIs) to ensure customer satisfaction and sustained profitability. The conclusion highlights the importance of a marketing plan for initiating policies, expanding business activities, and maintaining customer relationships, supported by references to relevant books and journals.

Marketing Plan

Table of Contents
INTRDUCTION..............................................................................................................................3
TASK...............................................................................................................................................3
Summary of product....................................................................................................................3
Objectives of Launching this product.........................................................................................3
Situational analysis......................................................................................................................4
Tactics.........................................................................................................................................5
Controlling and Monitoring -......................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRDUCTION
Marketing plan is a method which is used by organization for executing a plan
systematically which is essential for promoting their products between the public. Due to the use
of marketing strategies popularity, awareness and sale of their product are easily increased for
long time at maximum level. The chosen company for introducing new product is Mark and
Spencer and is headquartered in United Kingdom (Cavaglieri, 2018). The company was
established in 1884 and it is the multinational retail based store in England. The main reason for
introducing this products is to maintaining the culture of various countries in long run. This
report will cover the appropriate marketing plan for an organization of your choice to enhance
the marketing strategy for a product or service provided by the organization. This report will also
covers SWOT, STP and other analysis in aspect of launching new product.
TASK
Summary of product
The firm is going to introduce new product and the name of the product is ethnic wears which is
designed for all age generations. But the main highlight ethic wear product is that it is used in
some special occasions by consumers. With help of ethnic wears customers easily increase their
superior and classy look in front of others. The other important fact is that the ethnic wear are
easily consumed by children and women easily at higher rate. As I mentioned above ethnic wear
is the part of culture and due to this management is using the high quality materials in their
product for maintaining their durability in long time for customers.
Objectives of Launching this product
 With help of using marketing plan and launching new ethnic wears the reputation and
good will of Mark and Spencer are increased effective in market and between public.
 Introducing new product is also essential for increasing the portfolio of Mark and
Spencer effectively.
 Good marketing plan is also essential for enhancing the reach of product to consumers in
low time at international level.
 The main motive of launching this product by the firm is to attracting the customers in
large number and also for increasing the visits of consumers in their store.

Situational analysis
SWOT Analysis -
It is a strategic tool which is utilized by company for identifying their competitors
strength, weakness, threat and opportunities which are explained below -
Strength includes -
 In context to Mark and Spencer, management are used highly skilled employees in their
organization which is essential for running the operational activities smoothly.
 Mark and Spencer is one of the company who always focused on Customer satisfaction
level with help of facilitating proper solution to users in time. In this way manageemnt
easily achieved their vision, mission and objectives in short period.
Weakness includes -
 Due to increasing price in their new product chances are increased for decreasing the
customers or buying power of customers (Farroñán, Sánchez and Olaya, 2020). It also
leads to enhance the financial loss of firm effectively.
 Use of heavy technology by Mark and Spencer create negative impact on their machines
at the producing products and also in the price of their product. Because firm made lot of
investment in their equipments for produce the quality product.
Opportunities includes -
 With help of facilitating good quality product to customers Mark and Spencer easily
expanded their departmental and service activities at global manner. In this way positive
relation with users are also maintained for long time.
 Effective distribution channel helps the employees to deliver the services and products
to consumers in time.
Threat includes -
 Due to large competition Mark and Spencer faced lot of challenges for spreading
awareness about new product between public. Because other brands also provides the
same product in market.
STP Analysis -
It is a method which is used by the Mark and Spencer for identifying the target audience
before selling their product which are described below -

 Segmentation – In context to Mark and Spencer it is necessary for management that they
must introduce their products to customers according to demographic segmentation.
Because according to this segmentation the status and income of every people is
different.
 Targeting – In this stage it is necessary for Mark and Spencer that they must target those
audience who are easily attracted towards the product with help of social media (Łukasik
and Iżyńska, 2018). For example women and children because they have more craze for
trying the new products at maximum level.
 Positioning – In context to Mark and Spencer, management must manage their goodwill
and reputation in minds customers with help of maintaining 24*7 service customers.
Because with help of using this concept customers received their product in time.
Tactics
Marketing mix 4 P's -
Marketing mix is a set of strategies which is used by the firm for increasing their market
share in low time and it is basically divided in four parts which is described below -
 Product – In context to Mark and Spencer, management introduced the various ethnic
wears in the field of cloths. But the main purpose for launching this product is to
increasing the popularity of brand image.
 Price – In this stage it is necessary for management that they must introduce their
product in market with average price (Rahayu and Satria, 2019). Because average price is
essential for attracting all categories of consumers which leads to increase their sale of
products effectively
 Place – Before launching products it is necessary for Mark and Spencer that they must
select the suitable location where customers easily consume their product at high rate.
 Promotion – In this stage the main role of Mark and Spencer is to use various strategies
for promoting their product between public effectively which includes advertising, digital
marketing etc.
Budget Allocation

Particulars Amount (£)
Marketing 10000
Promotional activity 20000
Plant and machinery 120000
Print media 7000
Total 148000
Controlling and Monitoring -
For measuring the performance and employees of organization, management used the
KPI method and it stands for Key Performance Indicator. With help of this method activities are
done in systematic manner and completed the targets by employees in low time. Due to use of
KPI by top authority profit of Mark and Spencer are also sustained in long term. It is also
essential for maintaining customer satisfaction level at maximum level. This method is also
helpful for senior officers to take take better and right decision in any situation.

CONCLUSION
After the analysis of above information it is concluded that marketing plan is a very
important concept for any organization. Because with help of effective marketing plan
management easily initiate their various policies regarding their product. It is also helpful for
expanding their business activities in various locations and also for sell their products easily. It
is also helpful for maintain good relationship with users easily.

REFERENCES
Books and Journals
Cavaglieri, M., 2018. Diagnóstico e plano de marketing para uma empresa de normalização de
trabalhos acadêmicos. Ciência da Informação em Revista, 5(3) pp.83-96.
Farroñán, E. V. R., Sánchez, M. C. R. and Olaya, N. T. Z., 2020. Metodología canvas y plan de
marketing para fidelización de clientes en el rubro de dulces artesanales Chiclayo.
Revista Científica Epistemia, 4(1) pp.48-60.
Łukasik, K. and Iżyńska, M., 2018. A Literature Overview of the Selected Marketing Strategies
in Contemporary Business. Zeszyty Naukowe Politechniki Częstochowskiej.
Zarządzanie, (29) pp.186-195.
Rahayu, S. and Satria, C., 2019. The Effect of Supply Chain Strategy and Marketing Mixes on
Purchase Decisions Sharia Productin Palembang Region. International Journal of
Supply Chain Management, 8(3) pp.389-395.
Zulema, A. C. M. and Beatriz, D. M. S., 2019. Propuesta de plan de marketing para mejorar el
posicionamiento de una MYPE en el rubro de pastelería en el distrito de Trujillo.
YACHAQ, 2(1). pp.ág-11.