Marketing Essentials: Roles, Mix, and Plan for Marks and Spencer

This report provides a comprehensive analysis of the marketing strategies employed by Marks and Spencer (M&S), a multinational retail company. It begins with an introduction to marketing and its core functions, followed by an examination of the roles and responsibilities within the marketing functi...Read More

MARKETING
ESSENTIAL

Table of Contents
INTRODUCTION...........................................................................................................................1
PROJECT 1.....................................................................................................................................1
P1. Roles and responsibilities of marketing function.............................................................1
P2. Analyze roles and responsibilities of marketing relate to the wider organizational context 1
PROJECT 2....................................................................................................................................1
P3. Marketing mix of Marks and Spencer..............................................................................1
TASK 3............................................................................................................................................4
P4. Marketing plan for Marks & Spencer..............................................................................4
CONCLUSIONS..............................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Marketing is defined as the activities carried out by an organisation with the purpose of
buying and selling of services and products. It consists of promoting, advertising, selling and
distributing goods to customers. In a company, employees working in marketing unit tries to gain
the attention of customers with the help of packaging design, slogans and media exposure. This
assignment is based on Marks and Spencer which is a Britain based Multinational retail
company, situated in London. Company specialize in selling home products, luxurious food
items and clothing (Babin and Zikmund, 2015). This report includes key responsibilities and
roles of marketing function with respect to the company. Also, importance of marketing mix to
achieve business targets is mentioned. At last, a marketing plan is formulated to increase
presence of company within market.
PROJECT 1
P1. Roles and responsibilities of marketing function
Covered in PPT
P2. Analyze roles and responsibilities of marketing relate to the wider organizational context
Covered in PPT
PROJECT 2
P3. Marketing mix of Marks and Spencer
Marketing mix consists of tactics and action which a company adopts to advertise and
promote its brands in market. It helps a company in formulating services and products which are
offered to the potential clients. M&S is a retail company of British origin. It is concerned with
lifestyle and faces threat from Tesco, Centra, Aldi and ASDA. Marketing mix of M&S includes
place, product, people, physical evidence, price, Promotion and process. Marketing mix of M&S
is discussed below:
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Illustration 1: Marketing
mix
(Source: Marketing mix, 2017)
Basic Marks & Spencer Tesco
Product Company provides fair trade and eco-
friendly products and possess a
diversified product portfolio. M&S
offers standardised clothing. Along
with it, company provides beauty care,
furniture and food products. In
clothing firm deals in men, children
and women clothes and accessories.
Beauty care products offered by M&S
are toners, exfoliator, foundation,
shower gel and many more. Company
also provides different kinds of wine
such as white wine, rose wine,
Tesco deals in electronics, food,
clothings and financial services.
Company offers free downloaded
music and grocery services besides
other product lines. Tesco provides
many choices to customers, due to
this customers are highly satisfied
with the products offered by
company. Tesco also offers various
choices in international cuisine to its
clients.
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champagne etc.
Price Operating income of M&S is around
700 million pounds. Company has its
own brand that is associated with
apparels. Company uses premium
price strategy to carter needs of high
and upper middle class. In-house brand
of M&S offers services and product for
everyone. These products are ranged
between medium to high. Company
has adopted a price skimming
strategy and policy to enhance mass-
market consumption. For festive and
off seasons, company follows
dynamic pricing policy in which
products are available at discounted
rates.
Tesco offers its products to targets
customers at minimum cost while
maintaining the quality standards of
the items. Firm enjoys economies of
sale and carry out several measures to
keep their clients happy. Tesco
follows economic and bundle
pricing strategy in which they
provide products and services to
customers at low price. which helps
the company in maintaining its
presence as a best retail firm.
Company uses club card system to
benefit loyal customers by providing
them cash at later stages.
Place M&S has successfully presented itself
in international market. Company
operates its business operations
worldwide. Main registered office of
M&S is situated in London. In UK,
company has around 1000 outlets.
Company offers it products via outlets
and online application. Outlets of
company are strategically chosen to
achieve maximum clients base and
brand visibility.
It is headquartered in Hertfordshire
and maintained its visible presence
worldwide. Outlets of Tesco are of six
types which are Tesco Metro, Tesco
Home-plus, Tesco Compact, Tesco
Express, Tesco Extra and Tesco
Superstore. Company has maintained
smaller outlets for easy accessibility.
Online site is also available.
Promotion Company uses several kind of tactics
to promote and advertise its products.
Biggest merit of Tesco is low price
and they use this aspect as their
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Campaigns of M&S are displayed via
visual, digital and print medium.
Advertisement are given in newspaper,
TV, magazines, hoarding and
billboards. Company widely promote
its products via company's website.
Information regarding offers and
discounts is also available at official
website of M&S.
promotional tactics. Company
advertise through TV, provides
promotional discounts. Firm uses sale
strategies and organize charitable
events. Attractive offers are also
offered to consumers all year round.
Promotional tactics like “Buy one get
one free”and “half price” are widely
used.
People People are the assets of an
organisation. Success of a company
depends upon the behaviour of
employees while performing their
duties. At present around eighty five
thousand employees works under firm.
Company adopts competitive payment
policy to hold employees for a long
time period. Along with pay company
provides incentives and benefits to
workers on the basis of their
performance.
Sales of Tesco is due to performance
of sales assistants. To gain loyalty of
employees, company adopts programs
like Buy and save as you earn and
colleague privilege card etc. workers
are competent and hard working
(Macarthy, 2018).
Process Outlets of M&S are located in Malls
and Sub urban area. These outlets are
properly organised and well themed.
These outlets are divided according to
the products they provide. Furniture,
clothing, gifts and home accessories
are available at different stores.
Customers are rewarded with rewards
point under loyalty programs initiated
Company provides speedy billing to
keep consumers happy. Products are
easily available to consumers via
online and offline means. Employees
pay proper consideration towards
issues and grievances of clients.
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by company yo expand clients base.
Physical
evidence
Company has around 1000 stores in 52
countries and employees around 85000
workers. Outlets available in different
countries acts as physical evidence. All
the products offered by firm acts as
physical evidence (McDonald and
Meldrum, 2013).
There outlets are not over elaborated.
Company spends little amount on
furbishing stores. But all stores are
cleaned and well maintained. Website
of company is simple and easy to
understand.
TASK 3
P4. Marketing plan for Marks & Spencer
Objective of marketing plan is to introduce those products in market which satisfy the
wants and requirements of customers. Appropriate strategy of marketing results in
acknowledging the demands and demands of targeted clients. Without effective marketing plan.
It is not possible for organisations to achieve their targeted aims and objectives.
Overview of the company:
M&S is a retailer with high brand value and large customer base. Company operates in
home and food products, clothing and other retail businesses. Organisation primarily operates in
UK but has presence in around 60 other nations. Outlets of M&S are available at 1500
geographic locations. M&S serves around 33 million consumers. Company aims to provide
luxurious and standardised products which matches the expectation level of targeted market.
Vision: To offer standardised products which results in increased sales and profit.
Mission: To improve their existing service that matches the requirement of targeted
customers.
Marketing objective:
 To serve customers desirably and increase market growth by 20% in coming 6 months.
 Company is introducing 58 inch LED to enhance profitability by 22% in upcoming year.
STP: It is abbreviated as segmentation, targeting and positioning. This tool is used to
segment and target specific clients so that company can easily position itself ahead of rival
companies. It is a guiding tool for implementing other strategies (Morgan, 2012).
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Segmentation: In this, market is divided into different segments on the basis of income,
choice, age and gender of customers. Here one segment is different from other segment in terms
of choices and preferences. Market segment for M&S is discussed below:
 Psycho-graphic: It is concerned with people's lifestyle and their capability to spend on a
product. M&S is introducing 58'' LED in accordance with the preference of high class
and middle class people.
 Behaviouristic: Here segmentation is carried out on the basis of behaviour of different
people. High class people is willing to pay more for standardised products where as
average income people prefer affordable products (Rossi, Allenby and McCulloch,
2012). This 58” LED will be widely accepted by rich and standardised class.
 Geographic: Here Market is segmented on the basis of geographic locations. High class
people worldwide will prefer the product due to its standardised graphic display.
Targeting: In this step one particular segment is chosen and in accordance to that
company formulate its strategies. M&S is segmenting on the basis of behaviour. Company will
target those customers which are capable enough to buy their product. Their main target is rich
and high class people which considers luxurious and standardised products as a way to show
their high standard of living.
Positioning: It is vital for a M&S to position it s products properly. Positioning helps in
generating the need of products in the minds of customers. To promote its electronic products
M&S can advertise through online means, TV, newspaper and magazines. This will helps the
company to gain competitive advantage among rival companies (Satit and et. al., 2012).
Situational Analysis
It involves collection of methods which are used by manager to identify and analyse
external & internal environment of a company. This helps the company in acknowledging their
capabilities, behaviour of customers and business atmosphere. It includes several kind of analysis
such as Porter five force, 5Cs Analysis and SWOT analysis. Along with it, an effective
marketing plan is formulated to direct business personnels the way in which they can offer their
products to the customers. It is a critical step and helps in maintaining strong relation with
clients. In case of M&S, SWOT analysis is carried out to analyse the situation in a better context.
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SWOT of M&S:
Strength Weakness
 Company has a clear brand image and
provide modern, stylish and
sophisticated products.
 Company is highly innovative and
provide modern products as per
changing market needs.
 Other than Europe and USA and some
other countries, company is not able to
present itself in other international
markets as they offer only western
designed products.
 Due to poor return policy, customers
are not highly satisfied.
Opportunity Threats
 By introducing new segments like
traditional wear and ethnic wear
company can successfully present itself
in Asian continent.
 Rival firms like Tesco and Zara is
performing well and satisfy customers
in a better way.
Marketing Strategy: It is defined as overall plan in a business initiated by an organisation to
reach and persuade customers in order to turn them into customers. An efficient marketing
strategy formulated by a company includes key marketing message, value and proposition of
company to target potential consumers. Marketing strategy of M&S needs to have longer
timespan as compared with other marketing plan. This will allow the firm to gain competitive
advantage over rivals.
There are several kinds of marketing strategy which can be used by M&S to popularise
their 58” LED TV such as by using social media, creating video advertisements, blogging, by
leveraging influencers, by using Facebook ads with re-targeting, by formulating an affiliate
program and many more.
Marketing mix of 58” LED:
 Product: M&S is going to launch a new product in market i.e. 58” LED. To make product
popular and earn huge revenue, M&S needs to incorporate advanced feature such as
smart touch or customised feature in LED.
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 Price: Company can adopt penetrating marketing strategy which helps them in gaining
attention form large number of people due to affordable range.
 Place: Outlets providing LEDs needs to be at prime location. This will results in
increased sales.
 Promotion: M&S can advertise and promote 58” LED through radio, TV, newspaper,
magazine and online medium.
 Process: Before producing LEDs, it is important for M&S to acknowledge the demands
and preferences of customers and they should launch product in respect with that.
 Physical evidence: Outlets and stores are the physical evidence. Along with this, online
site form where customers can order LED acts as an physical evidence.
 People: Workers must be trained properly so that they can help customers in
understanding the features of LED.
Marketing Implementation: Best way to implement marketing tactics and strategy is by
setting the right expectations and formulating a schedule to carry out work in an organised
manner. To make a project successful, it is vital for M&S to arrange all the required resources
and build an efficient & skilled team. Another important aspect to implement a marketing plan is
to have proper communication among all the members which are concerned with project in any
sense. A specific time schedule needed to be formulated along with A dashboard which will
track the success rate of initiated plan. Also, monitoring and checking whether 58” LED TV
launched by M&S is satisfying the expectations of customer or not is also vital. This all steps
will take the product to a new height of success and popularity which will helps M&S to enhance
their skills and revenue.
Marketing budget:
Marketing budget
Particulars 1st year 2nd year 3rd year 4th year 5th year
Initial money 5000 9000 8000 12000 5000
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Investment 12000 7000 5000 8000 10000
Total 17000 16000 13000 20000 15000
Marketing outlay
Promotion 9000 8000 9000 6000 6000
Sales publicity 4000 5000 12000 10000 8000
Direct selling 11000 7000 11000 12000 5000
Total 24000 20000 32000 28000 19000
Monitoring and Control:
It is the responsibility of HR manager in M&S to analyse the needed strategies and
enhance the brand image in market. Manager needs to monitor and analyse the requirements and
needs of clients. This helps the firm to perform appropriately and increase their sales and
revenues (Tollin and Schmidt, 2012).
Action plan and measures adopted by M&S to reach desired outcomes are Promoting and
advertising LED through magazine, newspaper and online. To acknowledge reasons in case
product didn't perform well in market, M&S conducts surveys and collect feedbacks within
specific time period. This will help them in eliminating shortcomings which benefits the firm by
increased revenue and profit due to new launched 58” LED.
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CONCLUSIONS
In this report is has been analyzed that marketing is an essential aspect for every
company to advertise and promote products. Marketing concept plays a vital role in achieving
goals and objectives. Also, roles and responsibilities of marketing managers is crucial to acquire
company targets. Also, interrelation among various departments helps in satisfying the demands
of consumers more appropriately. Concept like marketing mix and marketing plan helps a
company to popularize its products within market.
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REFERENCES
Books and Journals
Babin, B. J. and Zikmund, W. G., 2015. Exploring marketing research. Cengage Learning.
Biggemann, S., 2012. The essential role of information sharing in relationship development.
Journal of Business & Industrial Marketing. 27(7). pp.521-526.
Finch, D., Nadeau, J. and O’Reilly, N., 2013. The future of marketing education: A practitioner’s
perspective. Journal of Marketing Education. 35(1). pp.54-67.
French, J. and Russell-Bennett, R., 2015. A hierarchical model of social marketing. Journal of
Social Marketing. 5(2). pp.139-159.
Laczniak, G. R. and Murphy, P. E., 2012. Stakeholder theory and marketing: Moving from a
firm-centric to a societal perspective. Journal of Public Policy & Marketing. 31(2).
pp.284-292.
Lovelock, C. and Patterson, P., 2015. Services marketing. Pearson Australia.
Macarthy, A., 2018. 500 Social Media Marketing Tips: Essential Advice, Hints and Strategy for
Business Facebook, Twitter, Pinterest, Google+, YouTube, Instagram, LinkedIn, and
More!. CreateSpace Independent Publishing Platform.
McDonald, M. and Meldrum, M., 2013. The complete marketer: 60 essential concepts for
marketing excellence. Kogan Page Publishers.
Morgan, N.A., 2012. Marketing and business performance. Journal of the Academy of Marketing
Science. 40(1). pp.102-119.
Rossi, P. E., Allenby, G. M. and McCulloch, R., 2012. Bayesian statistics and marketing. John
Wiley & Sons.
Satit, R. P. and et. al., 2012. The relationship between marketing mix and customer decision-
making over travel agents: An empirical study. International Journal of Academic
Research in Business and Social Sciences. 2(6). p.522.
Tollin, K. and Schmidt, M., 2012. Marketing logics, ambidexterity and influence. Journal of
Strategic Marketing. 20(6). pp.509-534.
Online
Marketing mix. 2017. [Online]. Available through:<https://marketingmix.co.uk/>.
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