Marketing Essentials: Evaluation of Marks & Spencer's Marketing Plan

This report provides a comprehensive analysis of Marks and Spencer's (M&S) marketing strategies. It begins with an introduction to marketing and its importance for organizational success, focusing on M&S as a major player in the retail industry. The report then delves into the 7Ps of the marketing mix—product, price, promotion, place, process, physical evidence, and people—explaining how M&S utilizes each element. The analysis compares M&S's strategies with those of competitors like Tesco. Finally, the report evaluates the development of a marketing plan for M&S, including assessing the current situation, identifying the target audience, and setting marketing goals. The report emphasizes the importance of understanding market conditions, customer needs, and competitive strategies to enhance revenue and improve product quality.

Marketing Essentials

TABLE OF CONTENTS
INTRODUCTION ..........................................................................................................................1
LO 1........................................................................................................................................2
LO.2. ....................................................................................................................................14
P3. Ways through which Marks and Spencer use elements of marketing mix (7Ps)...........14
LO 3......................................................................................................................................17
P4. Develop and evaluate a marketing plan.........................................................................17
CONCLUSION .............................................................................................................................19
REFERENCES .............................................................................................................................21

INTRODUCTION
Marketing plays a very crucial role in success of any organisation. Kotler says that,
“Marketing is an advertising process through which groups and individuals obtain whatever they
need and want through creating and exchanging products and value with others”. The present
study is based on Marks and Spencer (M&S) company which has higher presence across the
world in retail industry. The function is all about how product of a company is marketed in the
market for its sales. It involves key features like promoting a product and launching it in the
industry. This helps to achieve satisfaction level of customers and their needs along with making
them happy. It is very essential for building M&S company's reputation in its relevant sector. For
a company to be successful it is very essential to have better customer seller relationship.
Because the customers are everything for an entity and helps to operate in the market. It is seen
that making new customers is difficult as compared to retention of old customers. Main function
of marketing is to maintain organisation's reputation, dealing with bad press, product selling,
making customers loyal etc. Marketing is required everywhere and it changes whole scenario of
an organisation. M&S is the large firm of retail industry within the world. M&S provides retail
items and services like grocery, toys, food products, clothing etc. to the worldwide customers.
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LO 1
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