Marks and Spencer's Pricing Strategy: Analysis of the Marketing Mix

This essay provides an analysis of the marketing mix, focusing on the pricing strategy employed by Marks and Spencer. It defines the marketing mix as a model used by businesses to evaluate various aspects of their products and services, emphasizing its importance for strategic planning and promotion. The essay specifically examines the pricing strategy of Marks and Spencer, identifying it as a competitive pricing strategy where prices are kept between medium to high due to the company's exclusive designs and product quality. This strategy has helped the organization maintain brand loyalty and customer satisfaction. The conclusion reiterates the significance of the marketing mix and pricing strategy for business organizations, highlighting the challenges posed by increasing competition for Marks and Spencer.

Marketing Mix
INTRODUCTION Marketing Mix (price) CONCLUSION
REFERENCE
The marketing mix is the
model which is used by the
business organisations in
order to identify and evaluate
the various aspects of the
product and services. This is
an important tool for the
business enterprise to have a
strategic planning and to
promote its products.
M&S is a global
company which deals
in the clothing, home
décor . The company
is headquartered in
UK and was founded
in the year 1853.
This is defined as the cost of
the product or service which
is been charged by the
organisation. It also can be
defined as the cot which is
paid by the customer in
return of the purchase of the
product or service.
Overview of company
The pricing strategy which is
adopted by the Marks and
Spencer is competitive
pricing strategy.
The organisation has its own brand where it
produces the clothes for the women, men and
children. The prices of the product is ranged
between medium to high because of its exclusive
designs and the quality of the product. This
strategy have helped the organisation in various
ways by keeping the brand loyalty and the
customers are also satisfied with it. As the
increase in the competition is the most difficult
part for the Marks and Spencer.
From the above discussion it is
concluded that the marketing mix is an
essential tool for the organisation
where the pricing strategy is discussed
in context of Marks and Spencer. The
pricing strategy which is followed by
the company is competitive pricing
strategy where the prices are kept
between medium to high. This is
considered an effective strategy for the
business organisation.
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