Applying Marketing Principles: Marks & Spencer's Global Expansion

This report provides an overview of Marks and Spencer's application of marketing principles in the global environment. It begins with a company overview, highlighting its history and product range. The report then delves into the marketing mix, analyzing the seven Ps (Product, Place, Promotion, Price, People, Process, and Physical Evidence) and their application within Marks and Spencer's strategy. It also examines the company's international business strategy, emphasizing the importance of understanding customer behavior, corporate-level analysis, business-level considerations, functional-level activities, and adapting to new market needs. The report concludes with recommendations for Marks and Spencer, including adopting advanced technology, leveraging digital marketing, and providing employee training to enhance performance and facilitate international expansion. The importance of marketing in promoting brand and product/service, along with the need for strategic planning when entering new markets is emphasized. This report is available on Desklib, a platform providing past papers and solved assignments for students.

Applying Marketing
Principles in the Global
Environment

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Company Overview.....................................................................................................................1
Marketing Mix.............................................................................................................................2
International business strategy of Marks and Spencer.................................................................4
Recommendation.........................................................................................................................4
Conclusion.......................................................................................................................................5
References........................................................................................................................................6

INTRODUCTION
Marketing is a activity which helps the company or business to exploring, creating and
delivering the value to achieve the target market in terms of goods and services, along with it
helps to attract the new customer by using promotional tools. Marketing helps the company to
promote their brand and improve their performance. Along with to doing promotional activity
company need to make proper market strategy planning or apply market mix. In this report it
gives the Marks and Spencer company an apply seven Ps on this which helps the company to
expand their business globally (Aguilera and Grøgaard, 2019). Marketing is the practise to
increasing awareness, consideration, and preference the product and services by through the
consumer- driven benefits such as packaging, placement, promotion and so on. To build the good
relation between the customers is beneficial for the company performance, without customer
satisfaction, they are not able to execute well. Publicity activities support the company to
promote their brand and pull the target costumer and digital marketing is the most fashionable
techniques of marketing.
MAIN BODY
Company Overview
Marks and Spencer company is a extremely prime award- winning food, fashionable and
stylish retail manufacture, which was found in 1884 and their main head office are in London. It
is the major British multinational Retailer organization which dealings with numerous products
like home products, which regard more than 100 year old chains. They consider that innovation
plays a crucial role to win the market and pull the new customer (Zhao, Zhang and Kwon, 2018).
It is the first British retailer company who set up its own investigation laboratory in 1934, which
track the good quality food, clothing and homeware products for numerous consumers around
the world . Along with Marks and Spencer company provide many offer to client which is
incidental for the financial services like credit card adeptness, provide saving accounts and
insurance policy to their costumer (Chi, 2021). In 1948 Mark and spencer company was the
opening food retailer who launch their technical management and chief for the food division and
they introduce many new food items such as they introduce fresh frozen chickens to their user
and brand a basic retailer company who sale frozen trade good in UK. Marks and Spencer apply
1

brand strategy to promote their goods and services and discovery the new structure to work with
the one-third part brands such as investment, wholesaler and others.
Marketing Mix
Marketing mix is the strategies which helps the company to achieve their desired result
within the market. It is a set of actions which is used by the company to boost their brand or
product of the market for their target customer. It is based on seven Ps which are listed below:
 Product- Philip Kotler five product levels are helping to understand the basic powerful
product marketing tool, this model indicates five levels which are value the customer to
attach the products, because customer are satisfied when the product price is specified
(Ding, Peng, Heim and Jordan, 2020).
 Core products- It is the basic products which is mainly focus of product conscious, this
are those products which is purchase by the consumer for example smart phones helps the
customer to communicate effectively.
 Generic Products- This products represent the qualities of the product. It is the basic
version of the products which is made up only for those attribute which is essential for its
function. For example if customer purchase toothpaste so they also wants toothbrush.
 Expected products- It is based on the aspects of the customer expects to get that what
product they purchase, they include additional features which the customer might be
expected.
 Augmented Products- It refers to the products variations which helps the comp[any for
the product differentiation from its competitors and make the brand clearer choice among
the computation.
 Potential products- This products are changes according to the customer taste which
helps the company to attract the new customer too.
Marks and Spencer wants ensure that, they are cooperate with the sustainable provider in right
way, because they are able to assume the market and make environmentally- friendly products
which helps to product made by suitable methods. Along with they can also use recycle material
for doing packaging.
 Place – Before staring any Internationale business Marks and Spencer wants to ensure
that, they set their stores in right locations, because they support the company to grow
their business in various country which assist to charge the many opportunities to gain
2

their business share in other coming countries. Bit if in case they are not able to choose
right locations, so they face difficulty to mange their flow of goods and services (García-
Lillo, Marco-Lajara and Úbeda-García, 2019).
 Promotion- Marks and Spencer company mostly use digital marketing to doing
promotional activities, but still they have to choose best method to promoting their
product and services. Along with they can post their products related videos and photos
on social media such as Instagram, Facebook, YouTube and so on to attract the new
customer along with they wants to focus on their corporate social responsibility which
helps to promote the customer to conserve the natural environment.
 Price- Marks and Spencer company wants to set their according to the market and they
need to ensure that price are reasonable, because if their product price are reasonable, so
they able to approaching the market and target customers and make it easier to buy their
brand. The price strategy is based on that what customer are ready to pay and company
can also earn profit, so they can offer discounting programme for promoting the sales
(Resan and Khudair, 2022).
 People- The Marks and spencer company main target is the customer satisfaction, along
with they also wants to focuses on their needs of various worker and consumers, they
provide many offer to their employees and customer to st6aficad their needs, along with
they also try to motivate their employees' by provide training to their employees. Provide
excellent customer services is not only helps to build the sales but they also support to
build strong relation between customers. Marks and Spencer need to make new strategy
to attract the new customer, so they can provide many offers and discounts.
 Process- The company wants to maintain their process, because they helps to deliver the
suitable products and try to support the customers to reuse their cloth. The process
involved the delivering their products and services to the customer, having the good
process in place ensures that their company performance is good and they support the
save time and money by increasing the efficiency.
 Physical evidence- The Marks and Spencer company are using appropriate facilities for
marketing their products and services, they have many options such as online website are
make it easy for the customers to find their goods. Physical evidences is the incorporate
evidence which helps to proves that brand are exist for example, online website or any
3

bill receipt, offline stores are the proof that marks and spencer is the big retail company.
Their brand logo is also the evidence that there is the one company who exist ins the
market.
International business strategy of Marks and Spencer
Marks and Spencer company taking a low cost approach for the international expansion,
they adapting the core platform designed for the international business and consumers for its
various markets. To expand their business globally, Marks and Spencer company need o make a
proper strategy planning before entering into a new market they need to focus is this principles
which are listed below:
 Understanding the customer behaviour in a different world- Before entering into a
new market company need to ensure that what the customers wants, because different
countries having a different culture and taste, so they need to analyse the customer taste
and leading off the people (Konings, 2020).
 Corporate level – When the Marks and Spencer company decided that what country they
choose to doing international business, this stage they primarily concerned the analyse for
the international markets. Along with they need to assure that decisions are will be
dependent on matching the results of that analysis with the company target.
 Business- level- It is important to identify the different stakeholder groups, understand
their exceptions and evaluate their power, because the stakeholder provides the main
guidelines within the firm operates. They includes the determination for level of
commitment to exhibited factors and resources. Marks and Spencer company wants to
doing proper analyse of the market, so that they are able set their businesses and achieve
their target.
 The functional level- After setting the objective both corporate and business level,
company need to develop a detailed program for doing functional activities to achieve
their objectives (Meshram, 2021).
 Altering to fit the needs for the new market- Marks and Spencer company need to
decide that what they sell in the market and what change their offering to meet the local
demand .
4

Recommendation
Marks and Spencer company need to doing some changes which helps the company to
improve their performance and helps them to taking effective decision- making. Along with they
can adapt some changes which assist to doing international business and develop their
performance (Lim and Ok, 2022).
 Advance technology- If Marks and Spencer company adapt the advance technology,
because it helps the company to improve their performance and increase the profitably,
the most obvious benefits of advance technology is that they increase the profits of the
company. Along with they also assist to improve the customer satisfaction, advance
technology helps the company to keep their ideas away from their competitors and reduce
the risk and wastage of time and resources.
 Digital Marketing- If Marks and Spencer company start doing digital marketing, so they
support the company to promote their brand globally at lower cost and it is very effective
technique to attract the target customer. Digital marketing provide many opportunities to
the company to save money and obtain more leads, along with they provide great return
on investment and deeper brand connection (Nguyen-Viet, 2022).
 Provide training – Marks and Spencer company need to provide training to their
employees, because it helps the employees to build their knowledge and encourage them
to doing their more efficiently. Along with they can provide training of different language
and they support the company to start their business internationally.
5

Conclusion
In this report they applying the market strategies and global business, doing business
globally are need proper planning to start their business, because different Country have a
different culture, so they face difficulty their start their business. Marketing is very important for
any business they helps the company to promote their brand and product and service, marketing
mix is a tools which support the company to develop their strategy and improve their
performance. In this report it discuss that company need to focus of international market
principles and give some recommendation to resolve the problem they face to doing international
business.
6

References
Books and Journals
Aguilera, R.V. and Grøgaard, B., 2019. The dubious role of institutions in international business:
A road forward. Journal of International Business Studies, 50(1), pp.20-35.
Chi, J.T., 2021. Between Global Integration and Local Responsiveness: Western Footwear
Brands’ Marketing Mix in Chinese Market (Doctoral dissertation, Hochschulbibliothek
HWR Berlin).
Ding, X., Peng, X., Heim, G.R. and Jordan, V.S., 2020. Service mix, market competition, and
cost efficiency: A longitudinal study of US hospitals. Journal of Operations
Management, 66(1-2), pp.176-198.
García-Lillo, F., Claver-Cortés, E., Marco-Lajara, B. and Úbeda-García, M., 2019. Identifying
the ‘knowledge base’or ‘intellectual structure’of research on international business,
2000–2015: A citation/co-citation analysis of JIBS. International Business
Review, 28(4), pp.713-726.
Konings, D., 2020. The effects of country wealth on the energy mix.
Lim, S. and Ok, C., 2022. Meta-analytically linking the marketing mix to hospitality
organizations’ performance. Journal of Hospitality & Tourism Research,
p.10963480221112052.
Meshram, D.K., 2021. Introduction to Marketing Mix in India. Issue 2 Int'l JL Mgmt. &
Human., 4, p.836.
Nguyen-Viet, B., 2022. The impact of green marketing mix elements on green customer based
brand equity in an emerging market. Asia-Pacific Journal of Business Administration.
Resan, A.J. and Khudair, P.D.A.H., 2022. The impact of creativity strategy on the marketing mix
of banking services. Journal of Administration and Economics, 1(133).
Zhao, H., Zhang, F. and Kwon, J., 2018. Corporate social responsibility research in international
business journals: An author co-citation analysis. International Business Review, 27(2),
pp.389-400.
7