Comprehensive Marketing Plan for Marks and Spencer (Business Studies)

This report presents a comprehensive marketing plan for Marks and Spencer, a multinational company based in the United Kingdom. It begins with an executive summary outlining key strategies such as quality-focused product development, premium pricing, single-line and online distribution, and a multi-channel promotional approach including social media, print, broadcast, and ambassador marketing. The report then delves into a company overview, followed by a detailed analysis of the marketing mix (product, price, place, and promotion) tailored to the UK market. It recommends specific tactics, such as trendy designs, premium pricing, single-line distribution, and digital marketing through Facebook and Instagram. The report concludes with recommendations, including collaboration with influencers, storytelling marketing, the use of hybrid trucks, and timely discounts. The analysis is supported by relevant data and sources, providing a practical framework for enhancing Marks and Spencer's marketing effectiveness.

RUNNING HEAD: MARKS AND SPENCER
MARKETING
BUSINESS STUDIES

MARKS AND SPENCERS 1
Executive summary
Marks and Spencer is a reputed business organization from United Kingdom. To promote its
brand it should avail the use of marketing plan. It is a document for achieving marketing
goals. It involves product mix, price mix, place and promotion mix. For product effectiveness
it should develop the use of quality focused strategy and include trendy designs in its product.
For effectiveness in pricing, it should choose premium pricing strategy. It will help the
company in gaining high profit and offering better service to potential customers. Single line
distribution strategy will help the company in delivering product easily to the customers. It
will save company’s cost. Additionally, it should avail the use of online distribution to
provide easy access to customers. For brand promotion, Marks and Spencer should choose
Facebook, Instagram (social media marketing), Emma Watson (ambassador marketing), BBC
Radio 2 (broadcast marketing) and The Sun for print media marketing in United Kingdom.
Considering these strategies will yield positive results for the brand. It should consider
suggestions for offering timely discounts, storytelling and use of hybrid trucks to gain higher
benefits from marketing.

MARKS AND SPENCERS 2
Contents
Introduction................................................................................................................................3
Company overview....................................................................................................................3
Marketing mix model.................................................................................................................3
Target market..........................................................................................................................3
Elements of marketing mix....................................................................................................4
Conclusion..................................................................................................................................4
Recommendations......................................................................................................................5
Bibliography...............................................................................................................................6
Appendices.................................................................................................................................7

MARKS AND SPENCERS 3
Introduction
The report reflects on the Marketing Plan of ‘Marks and Spencer’. Marketing plan is a
detailed document involving the marketing goals of a business enterprise. It includes
strategies and tactics for formulating the plan and achieving marketing objectives within a
specified period. Marketing mix forms the significant concept of marketing plan. Effective
marketing plan benefit the company in gaining high customer strength, increase sales, fine
brand recognition, and availing more financial returns (Westwood, 2013).
Focusing on the report structure, the initial part includes the brief overview of the company.
The next section includes the marketing analysis of the brand. It involves the use of suitable
and reasonable strategies for effective marketing. The succeeding part emphasizes on
practical and economical suggestions for high brand promotion and business growth in
United Kingdom.
Company overview
Marks and Spencer is multination company based in United Kingdom. It was founded in the
year 1884. It has 1463 stores in 57 countries. With the passing years it is increasing its retail
outlets in United States as well as in international market. The brand offers wide variety of
products including clothing, furniture, food, beauty, wine, and gifts. It has its headquarters in
London (Marksandspencer, 2019). It also faces competition from H&M, Mother care,
Primark, Monsoon and country road (Owler, 2019). In the year 2018, its annual revenue
counts to 10,698.2 million (Sabanoglu, 2019).
Marketing mix model
Marketing mix refers to the set of tactics and actions for the brand promotion. It focuses on
fours factors named Product, Price, Place, and Promotion. It is consider as a tool to achieve
the marketing objectives from target market. It involves putting the right product, at the right
place with right price (Westwood, 2013).
Target market
Target market is the group of customers that a brand focuses (Westwood, 2013). Marks and
Spencer should focus on mediate and upper income group of United Kingdome. It will help

MARKS AND SPENCERS 4
the company in emerging as premium brand. Considering the target market, following is the
marketing mix analysis of Marks and Spencer.
Elements of marketing mix
Product: It is the commodity offered to the customer (Westwood, 2013). Marks and Spencer
should develop the use of ‘quality focused product strategy’. It involves laying high attention
to product quality. It should avail the use of trendy designs to gather the attention of youth
population.
Price: It is paid by the customers in return for the product or services (Westwood, 2013).
Mark and Spencer should develop the use of ‘premium pricing strategy’. It involves selling
products at relatively high price. This strategy is best suitable as it helps the brand in availing
high profit. Additionally, it will assist in offering high quality products to the customers. This
in turn, will lead to high customer satisfaction and low complaints. It will ultimately lead to
‘better word of mouth’ by customers. Moreover, this pricing strategy will enable the brand to
offer better services to customers.
Place: It is the distribution channels via goods are transferred to the customers. There are
multiple distribution channels (Westwood, 2013). Marks and Spencer should choose ‘Single
line distribution channel’ as well as ‘internet’ to distribute its product to the ultimate
customers. Single channel distribution channel will lower the cost involved in intermediaries.
Internet distribution will allow the brand to reach the customers with busy time schedule.
Promotion: It includes the marketing efforts undertaken by the brand for brand promotion
(Westwood, 2013). Marks and Spencer should rely on multiple promotional media to market
its product. It should lay attention on digital media marketing. In United Kingdom, Facebook
and Instagram are used social media platforms. Therefore, Marks and Spencer should opt for
same in social media marketing. In print media, it should opt for ‘The Sun’ (Agilitypr, 2019).
This is because it is highly read newspaper in United Kingdom. In broadcast media it should
advertise its product on BBC Radio 2. It has reach to about 14181 thousands listeners in
United Kingdom (Statista , 2019). Additionally, it should consider ‘ambassador marketing’ as
well. It should choose ‘Emma Watson’ as she is popular in United States.

MARKS AND SPENCERS 5
Conclusion
The report summarizes the marketing plan of Marks and Spencer. It is analyzed that Marks
and Spencer is a globally recognized company. Based on marketing mix analysis, it is
assessed that developing the use of quality focused, premium pricing, single line distribution,
digital and social media strategies will benefit the company in gaining higher market share,
increasing customers in United Kingdom. Thus, it concludes that effective marketing plan
will assist the Mark and Spencer in availing significant growth in United Kingdom.
Recommendations
Following are the suggestions for effective marketing of Marks and Spencer in United
Kingdom.
1. Marks and Spencer should collaborate with social media influencers. This will benefit
the company in gaining attention of youth population.
2. It should avail the use of ‘Story telling’ marketing technique. This technique is
considered more genuine by the customers. It should implement this strategy via its
Instagram profile. This is because it has 22 million users (Dea, 2019). Developing this
strategy will help the brand in gaining more customer engagement. Additionally,
including customer’s views and story on its Instagram page will gave rise to
customer’s belongingness with the brand.
3. It should develop the use of hybrid or electric trucks to deliver its products to the end
users. This will help the company in taking appropriate step towards sustainability.
Further, it will help the company in raising its reputation in the market.
4. It should offer timely discounts in its products. This will aid in gaining the attention of
price sensitive customers in United Kingdom (Statista , 2018).

MARKS AND SPENCERS 6
Bibliography
Agilitypr, 2019. Top 10 U.K. Newspapers by Circulation. [Online] Available at:
https://www.agilitypr.com/resources/top-media-outlets/top-10-uk-newspapers-by-circulation/
[Accessed 17 December 2019].
Dea, S.O., 2019. UK: Instagram users by age 2019. [Online] Available at:
https://www.statista.com/statistics/1018012/instagram-users-united-kingdom/ [Accessed 17
December 2019].
Marksandspencer, 2019. Incredible Festive Deals. [Online] Available at:
https://www.marksandspencer.com/ [Accessed 17 December 2019].
Owler, 2019. M&S's Competitors, Revenue, Number of Employees, Funding and
Acquisitions. [Online] Available at: https://www.owler.com/company/marksandspencer
[Accessed 17 December 2019].
Sabanoglu, T., 2019. Marks & Spencer revenue worldwide 2010-2019. [Online] Available at:
https://www.statista.com/statistics/413349/group-revenue-marks-and-spencer-mands/
[Accessed 17 December 2019].
Sabanoglu, T., 2019. Number of Marks & Spencer stores 2010-2019, by region. [Online]
Available at: https://www.statista.com/statistics/268649/marks-und-spencer-number-of-
outlets-by-region/ [Accessed 17 December 2019].
Statista , 2018. Shopping behavior: Sensitivity to price in the United Kingdom (UK) 2014.
[Online] Available at: https://www.statista.com/statistics/295399/consumers-sensitivity-to-
price-in-the-united-kingdom-uk/ [Accessed 17 December 2019].
Statista , 2019. Leading radio stations ranked by reach in the United Kingdom (UK) in Q3
2019. [Online] Available at: https://www.statista.com/statistics/286892/uk-radio-stations-
ranked-by-listeners-reached/ [Accessed 17 December 2019].
Westwood, J., 2013. How to write a marketing plan. Kogan Page Publishers.

MARKS AND SPENCERS 7
Appendices
Figure 1: Marks and Spencer stores are increasing in number
Source: (Sabanoglu, 2019)
Figure 2: Marks and Spencer competitors

MARKS AND SPENCERS 8
Source: (Owler, 2019)
Figure 3: Marks and Spencer annual revenue
Source: (Sabanoglu, 2019)
Figure: Price sensitivity among UK population
Source: (Statista , 2018)