Marketing Fundamentals Report: Marks and Spencer's Strategy

This report provides a comprehensive analysis of marketing fundamentals, using Marks and Spencer as a case study. It begins with an introduction to marketing and its role in creating customer value, followed by an examination of the marketing process. The report then delves into specific analytical tools, including Porter's Five Forces model and SWOT analysis, to assess the competitive landscape and internal strengths and weaknesses of Marks and Spencer. A significant portion of the report is dedicated to exploring stakeholder engagement and its impact on the company's marketing activities. The analysis covers how Marks and Spencer addresses customer needs, manages its brand, and navigates competition. The report concludes with a summary of key findings and insights into the practical application of marketing principles. References to relevant academic sources support the analysis.

Marketing Fundamentals

Contents
INTRODUCTION....................................................................................................................1
MAIN BODY............................................................................................................................1
The marketing role assists in creating value for customer..........................................................1
Process of marketing....................................................................................................................2
Porter five force model................................................................................................................2
SWOT analysis............................................................................................................................2
Stakeholder engagement & their effect on marketing activities of organisation.........................3
CONCLUSION.........................................................................................................................4
REFERENCES.........................................................................................................................5

INTRODUCTION
Marketing is considered as a strategy in which brand is adopted to promote goods and
services. It is a process of producing product as per need of user that help in enhancing sales of
organisation in future period of time. The marketing fundamental is determined as a process
through which individual person emphasized on fulfilling requirement of user. In this
assignment, the organisation is taken named as Marks and Spencer. It is considered as an
international company that provide different types of product and services for satisfying need of
user. This assignment provides discussion in context of role of marketing that help in generating
value for its user. And, also there is an explanation in respect of stakeholder that imposes direct
effect on activity of company (Balducci and Marinova, 2018).
MAIN BODY
The marketing role assists in creating value for customer
Marketing is considered as a concept that offers information regarding product, price, place
as well as promotion. The company adopt marketing because it provide information regarding
goods, promotional techniques, pricing strategy as well as distribution channel that helps them in
satisfying need and wants of customer. The marketing is important because they emphasize on
attracting ample of audience and generating awareness regarding goods and services. The
manager of Marks and Spencer focuses on assessing role of marketing that create value for its
customers like assessing need of user, providing specific product and services in order to satisfy
them that is going to be mentioned below:
Meet customer requirements the marketer focuses on assessing need of user by using
proper strategy of marketing process. Their primary purpose is to motivate subordinate in by
adopting proper strategy of marketing. Their main aim is to motivate user by fulfilling their need
and sustaining them for a longer period of time. The manager of Mark and Spencer focuses on
accomplishing objective by fulfilling expectation of customer.
Widen market the manager of chosen organisation focuses on adopting tool of mass
communication like advertisement, event marketing that help in promoting goods in an
appropriate manner. Their purpose is to adopt different programs in order to build proper brand
image of organisation in front of customer in the market (Rowles, 2017).
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Adopting right price it is determined as an appropriate element related to marketing mix
that generates value. The marketing manager emphasis on set affordable or reasonable
price ,implementing proper changes so that they focuses on providing products and services at
reasonable price to customer for fulfilling their need. The marketing team of Marks and Spencer
focuses on providing unique products to its customer according to their requirement that help in
performing their work in proper way (Chaffey and Ellis-Chadwick, 2019).
Better product offering the company focuses on marketing their goods by using attractive
packages during particular phase of time period. The marketing is important in handling goods
that is provided by company to its user. The management team of Marks and Spencer focuses on
providing attractive packages to customer for retaining them for longer period of time.
Face competition is significant in current international market and it aids assistance in
maintaining proper balance of expectation of customer and competitive company by controlling
market in proper way. The organisation focuses on providing superior quality products and
services to customer for retaining them for a longer period of time (Zook and Smith, 2016).
Brand management is significant factor for organisation that aids assistance in retaining
customer for a longer time period. Their primary purpose is to provide products and services at
reasonable price that help in handling plan in proper way. It is helpful in increasing experience
level of user in upcoming period of time. And, it is analysed that the marketing plays an
important role in generating value for goods and services in front of user in the market
(Cornwell, 2020).
Process of marketing
The process of marketing signifies series of level that provide allowance to company to
assess problem of user, assess market opportunities and also generates material of marketing to
reach desired audience. There are various level of process of marketing such as mission
statement of company, situational analysis, make strategy, objective and implement various
activities in proper way that is going to be mentioned below:
Mission statement of the company:
This one the initial stage of the marketing process wherein the company has to describe
its mission statement. This helps the customers in understanding what the company stands for.
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The company Marks and Spencer is built on the values of quality, innovation as well as service.
The mission statement of the company is to make high quality products that are accessible to
everyone. In order to do so, the company will offer a wide range as well as depth of products.
Customers prefer products that are innovative and do not cause any harm to the environment.
Therefore, by marketing itself as an environment friendly as well as sustainable brand, Marks
and Spencer will be able to attract a greater number of customers.
Situational Analysis:
The another stage of marketing process is the situational analysis, under this the internal
and external factors that can influence the functioning of the business are evaluated and
analyzed, the strength and weaknesses which are the internal factors also the opportunities and
threat which comes under the external factors of the business are effectively analyzed. In case of
Marks and Spencer, they carefully take into consideration the internal and external factors that
can affect their functioning, this analysis help company to know their position in the market.
Strategy:
Strategy is an important component within an organization that can guide it to conduct its
business activities in an effective manner. While developing its strategies, Marks and Spencer
takes into account the different factors that can affect the same. In order to market its products as
well as services, the company can use social media strategies. This can help it in reaching out to
a greater number of people and serving their needs in an effective manner.
Objectives:
The objective is one of the essential stage of the marketing process, it helps to nalyse the
main objective of the company, under this the main objective of the marketing process and plan
is evaluated, organization carefully analyses the objective that is needed to be attained by them in
the market and accordingly frames their marketing plan. Objectives helps organizations to
understand the main purpose of their activity. Marks and Spencer has clearly set their
organizational and marketing objectives and effectively working towards attaining those
objectives. Company has clear objective of enhancing their marketing activity and satisfy their
customers.
Implementation & Control:
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The final stage of the marketing process is the implementation and control, under this the
plan is finally implemented, company needs to inform their potential and targeted customers
about the products and services, the various necessary resources needs to be arranged properly in
order to implement the plan for effectively, after the plan is implemented the organization needs
to regularly control and evaluated their plan in order to get the better results as the market is
dynamic and with increasing competition in the market the organization needs to ensure that the
proper actions are taken in order to control and implement their plan. Marks and Spencer uses
effective control strategies in order to effectively monitor their marketing activities and enhance
their profitability.
Porter five force model
It is a type of a model in which it reflects about the forces that shape the business. This
framework is beneficial to be understood as it gives the brief information about the market
situation in proper manner. It is a time consuming process as because to apply this model wide
range of information is needed in proper way.Main benefit of this framework is that it helps in
understanding of factors which impact upon business at larger level.
Level of competition
It is a force factor that shape the business has because the level of competition in market
impacts upon profit and sales of the company. In context of marks and Spencer they have many
competitors like Zara next John Lewis, Top shop etc. The level of competition also depends on
market size, customer base, management structure and many more.
Threat of substitutes
A product has a wide number of substitutes in the market. A substitute is to be defined as a
replacement of existing product. The threat of substitute is higher in market as because there
many products which replaces the product of M &S such as John Lewis.
Threat of new entrants-
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New entrants also affect the business as in case of M & S threat of new entrance is low
because to initiate a new retail business huge amount of money is needed. So, a new entrant does
not affect the business of company. Threat of new entrants is high when government restrictions
are low, competition is low, no ways to satisfied the demand of customers.
Bargaining power of buyers-
Buyers are crucial for business without which it is not possible for company to execute
the exchange process. The bargaining power of buyer is high in case of Marks and Spencer as
concentration of buyer us higher and can tastes gets changes.
Bargaining power of suppliers
Bargaining power is supplier is low because the chosen firm is a multinational firm and
suppliers want their goods on retailers’ shelves at larger level. Also, selected firm is not relied on
suppliers as because they sell their own branded products. Suppliers are crucial for business
without which it is not possible for firm to reach to customer. Moreover, it is essential for firm to
select the most appropriate type of vendors.
SWOT analysis
The SWOT analysis is used to assess strength, weakness and also analyse threat and
opportunity of business organisation. Therefore, the SWOT analysis is adopted by Marks and
Spencer is going to be mentioned below:
STRENGTHS WEAKNESSES
 Due to having a global presence that
enhances brand image of company in
front of customer in the market. The
manager of Marks and Spencer has
online presence in different countries
around Europe and Asia. They possess
1463 outlets in which 1035 outlets is
 The Marks and Spencer reported fresh
slump within sale of clothing in 2019
due to not availability of product in its
outlets.
 Due to increase in competition level, it
decreases sales of Marks and Spencer
which imposes negative effect on
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located in UK and rest located at
international level.
 The Marks and Spencer have a superior
reputation because they provide quality
of goods to its user for satisfying them
(Holcomb, 2016).
company.
OPPORTUNITIES THREATS
 The Marks and Spencer have reached in
biggest country around the world such
is Russia, Indonesia as well as India
and many more that is determined as a
main opportunity for country. Marks
and Spencer possess online presence
within country so that it provides
opportunity related to online growth.
 There are different kind of competitive
organisations such as the TESCO,
Sports direct that is determined is the
biggest competitor of company which
imposes negative effect on growth of
organisation.
 The organisation does not conduct
proper research that imposes negative
effect during particular phase of time
period (Khurramov, 2016).
Stakeholder engagement & their effect on marketing activities of organisation
The stakeholder is determined a person who possess interest within an organisation that
enforces direct effect on company. There are various type of stakeholder like investor, supplier
and user. By enhancing attention in reference of CSR, the concept connected to stakeholder is
extended in reference of government, community as well as trade association (Grant and
Meadows, 2020). There is different kind of stakeholder of company such as customers, investors,
subordinates, and their primary purpose is to organise different task in proper way. There are
different types of stakeholders internal and external that is given below:
Internal stakeholders are considered as a person who possesses interest within
organisation by adopting investment, relationship employment & many more. In addition to this,
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external stakeholders are a person who do not execute task in appropriate manner but it is
affected by outcome of company. For this process, there are various types of stakeholder of
selected company that is given beneath:
External stakeholders
Supplier is the person who provides different type of goods and services to customers
that aids assistance in enhancing sales of company in future time period. The main purpose is to
provide products to company that impose direct effect in future time period (Hastings and
Domegan, 2017).
Customer is the person who is determined as external stakeholders of company and their
primary purpose is to offer unique goods and services to customer for fulfilling their need. They
use different kind of resources and maintaining proper strategy for fulfilling their requirement in
order to retain them for a longer period of time.
Communities are determined as a stakeholder within business organisation because
community as well as a organisation take benefits in various ways and affected by job creation,
economic improvement and many more.
Government is determined as primary stakeholders related to organisation & they gather
tax from organisation during particular phase of time period (Sun and Ko, 2016).
Internal stakeholder
The owner is determined as a person who emphasis on executing their operations in
proper way that aids assistance in enhancing productivity in future time period. In context chosen
organisation, the owner emphasis on implement various activities in appropriate manner.
Investor is the individual person who possesses right to have a information such as
regular financial statement in which they emphasize on taking proper decision that helps in
assessing investment within company during the period of time.
Employee is a person to emphasize on organising different task in proper way. It is
helpful in bringing positive ambience for executing different task in proper way (Hoffman and
Bateson, 2016).
Effect of internal stakeholder on marketing
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Marketing campaigns of a business firm are affected by internal stakeholders of the
company. It is essential for business firms to gain the approval from internal stakeholders about
their marketing activities so that each stakeholder is satisfied with the outcome of marketing
efforts (Andersson and Wikström, 2017).
The internal stakeholders of Marks and Spencer effect promotional activities conducted
by the company. Shareholders of M&S are primary stakeholders of the company which affect
M&S marketing campaigns. The shareholders require creation of a profitable brand image
through the marketing efforts of Marks and Spencer. This stakeholder requirement affects the
promotional campaign undertaken by Marks and Spencer. Employees are another internal
stakeholders which affects promotional activities conduct at the British retail firm. Promotional
activities are formed by contributions of the workforce of the company and specific promotional
campaign aimed a attracting skilled workers require involvement of employees. In context of
Marks and Spencer the employee base of the company impacts marketing campaigns through
involvement in creation and execution of various promotional plans. The respective company
needs to ensure that each internal stakeholder is satisfied with the promotional activities as it not
only increases the possibility of success of the marketing campaigns but also ensures that the
outcome of the marketing campaigns is beneficial for every internal stakeholder.
Effect of external stakeholders on marketing campaigns
Marketing efforts of an organisation are created in order to appeal to their target
consumer base which is an external stakeholder of the company (Domegan and et. al., 2019).This
suggests that external stakeholders have more impact on the marketing activities of the business
firm.
In relation to Marks and Spencer, the target consumer base which s primary stakeholder
of the company exerts string influence of the promotional activities implemented by the firm.
The respective enterprise constructs promotional activities in order to increase consumer’s
engagement and persuade them into purchasing the products of the company. The promotion
methods such as digital marketing and social media marketing campaigns are modified on the
basis of consumer’s response. This depicts the high amount of influence of the consumer base on
the marketing activities of the firm.
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Governments are another external stakeholder which affects marketing efforts of a
business firm. The government authorities have the power to implement regulations related to
advertisement. Marks and Spencer has to follow legislation related to promotional campaign
such as ensuring that the company does not engage in false advertisement. In addition to this law
which prohibits company from tracking digital presence of consumer affects the marketing
efforts of the respective firm. Society and community which is associated with the company also
affects the marketing efforts of the firm and is considered an external stakeholder of the firm.
Social circumstance affects the marketing efforts of Marks and Spencer. The company needs to
ensure that their marketing campaigns are not offensive towards any community as it results in
consumer backlash against the firm. This depicts the power of society and community on the
marketing efforts of Marks and Spencer.
CONCLUSION
On the basis of above given analysis, it is assess that marketing is the strategy in which
brand is adopted to promote goods and services. It is a process of producing product as per need
of user that help in enhancing sales of organisation in future period of time. The marketing
fundamental is the process through which individual person emphasized on fulfilling need of
user. This assignment provides discussion in context of role of marketing that help in generating
value for its user. And, also there is an explanation in respect of stakeholder that imposes direct
effect on activity of company.
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REFERENCES
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Cornwell, T.B., 2020. Sponsorship in marketing: Effective partnerships in sports, arts and events.
Routledge.
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setting. Journal of Macromarketing, 39(2). pp.136-150.
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Routledge.
Hastings, G. and Domegan, C., 2017. Social marketing: Rebels with a cause. Routledge.
Hoffman, K.D. and Bateson, J.E., 2016. Services marketing: concepts, strategies, & cases.
Cengage learning.
Holcomb, Z.C., 2016. Fundamentals of descriptive statistics. Routledge.
Kaplan, R.S., 2017. Internal marketing and internal branding in the 21st Century
organization. IUP Journal of brand Management, 14(2).
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аспекты рационального природопользования (pp. 3572-3575).
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communications and advertising. Kogan Page Publishers.
Sun, Y. and Ko, E., 2016. Influence of sustainable marketing activities on customer
equity. Journal of Global Scholars of Marketing Science, 26(3), pp.270-283.
Zook, Z. and Smith, P.R., 2016. Marketing communications: offline and online integration,
engagement and analytics. Kogan Page Publishers.
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