BTEC HND Marketing Essentials (Unit 2): Marks & Spencer Marketing Plan

This report presents a basic marketing plan for Marks and Spencer, a company established in 1884 dealing in supermarket chains and retail. It outlines the company's vision, mission, strengths, and threats, emphasizing its position as a leading brand with a wide range of products. The report identifies the target market, focusing on customers with high purchasing power, and details a marketing budget spanning five years, covering initial investments, advertising, sales promotion, and direct marketing. It also discusses the importance of monitoring pricing strategies and supply management. The conclusion highlights the significance of maximizing customer satisfaction by providing high-quality products based on customer needs and wants. The report references academic sources to support its analysis and recommendations.

Marketing Essentials

Table of Content
 Introduction
 Basic marketing plan for Marks and Spencer
 Conclusion
 References

Introduction
Marketing is defined as a place where all the transactions or
exchange takes place. In today's business era, marketing is
gaining advancement at a rapid speed. They have been
innovating various tools and techniques in order to get the
best out of market place. In this report, company chosen is
Marks and Spencer which was established in 1884 by two
men Thomas Spencer and Michael Marks.

Basic marketing plan for Marks and
Spencer
Plan for Marks and Spencer:
Introduction Of Business: This company was established in
1884 by two person Michael Marks and Thomas Spencer.
They both started this business and they mainly deal in
supermarket chains and retailer ship.

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This company has been working globally for many decades
and they have more than 1000 stores well established and
615 of them mainly consist of food stores. They have also
been dealing in clothing store but that sector has been
showing increment in sales just like food products sector
is showing.

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Vision and Mission of the company: Vision always help in
achieving the goal of the company or a person and it
mainly desired and achieved by trading products and
services in the marketplace. They consider marketing as
tool for development.

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Strength
One of the most powerful brand
in retail sector as one of the
top leading company.
Products of this company is
seen as value for money due
to its quality and wide range
of products.
Contain own branded labels.

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Threats
Other retail stores prices can be a threat for their product
selling.
Being a global leader they have chances of exposing
themselves into various political factor in different
countries.
Being a popular brand, their brand needs to be protected
from the misuse of fake replicas or copied products.

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Target market: It is an area in which company target the
market according to their aims and objectives and
specially where they can find large group of customers. It
is an advantage for the firm to identify the nature of their
prestigious customers and buying behavioural and
specially those who have high purchasing power in the
economy.

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This can be done through finding on choices, culture etc.
Marketing Budget: It is made with the purpose with
determining all the terms and strategies which can be
used by Marks and Spencer. Finance managers which
have all the responsibilities on their shoulders for all the
marketing activities and tasks.

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Particulars 1st year 2nd year 3rd year 4th year 5th year
Initial money 80000 20000 21000 16000 15000
Investment 30000 15000 17000 18000
Total 80000 50000 36000 33000 33000
Marketing
expenditures
Advertisement 15000 10000 7000 6000 6000
sales
promotion 5000 3000 3000 7500 9000
Direct
marketing 5000 2000 5000 7200 2000
Total 25000 15000 15000 20700 17000
Available
balance 55000 35000 21000 12300 16000

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Monitoring:
In order to modify unique changes regarding pricing
strategies which are linked to the main area of focus of
cited firm. Effectual supply management method for
solving out issues faced by business and thus obtaining of
goals and objectives.

Conclusion
As per the above presentation it can be concluded that main
purpose of every business is to maximise the satisfactory
level of the customers by providing them high quality
products after analysing the actual needs and wants of the
customers.

References
Biemans, W. G., Brenčič, M. M. and Malshe, A., 2010.
Marketing–sales interface configurations in B2B firms.
Industrial Marketing Management. 39(2). pp.183-194.
Dibb, S. and Simkin, L., 2013. Marketing essentials.
Cengage Learning.

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