Comprehensive Marketing Plan and Strategy Report: Marks & Spencer

This report offers a detailed examination of Marks & Spencer's marketing strategies and plans. It begins with an introduction and background, providing an overview of the company's history, organizational objectives, and core values. The report then delves into Marks & Spencer's product and brand portfolio, emphasizing its expansion and product offerings. Key marketing elements, including pricing strategies (penetration, discount, and cost-effectiveness), distribution strategies (internet, distributor, catalog, etc.), and promotional mix (advertising, personal selling, sales promotion, public relations, and direct marketing), are analyzed. The report highlights how these strategies contribute to the company's competitive advantages and its ability to build and maintain customer relationships. The conclusion summarizes the key findings and emphasizes the importance of the marketing strategies in achieving the company's objectives and future growth.

Running head: Marketing plan and strategy
Marketing plan and strategy

Marketing plan and strategy
Table of Contents
Introduction and background......................................................................................................................4
Organizational objectives............................................................................................................................4
Product and brand portfolio........................................................................................................................5
Pricing strategies.........................................................................................................................................6
Distribution strategies.................................................................................................................................7
Promotional mix..........................................................................................................................................7
Conclusion...................................................................................................................................................8
References...................................................................................................................................................8
2

Marketing plan and strategy
Introduction and background
The report presents a brief overview of the marketing strategies and plans of the company
which are used by the company to develop and build a good relationship with customers in the
market. Marks & Spencer company has been selected for the report. It explains the
organizational objectives, core values and mission and vision the firm. It explains that how the
company is expanding and selling its products and services across the world. It describes the
pricing strategy, distribution strategy and promotional strategy of the company.
Marks and Spencer plc is a major and primary British multinational retail company. Its
head office is situated in London, United Kingdom. It is listed on the London Stock exchange.
The company was incorporated in 1884 by Thomas Spencer and Michael Marks. The company
deals in various luxury food products and home products in the United Kingdom. The company
has 959 stores in the UK. In today’s era, the company is increasing its revenue and profit across
the world. There are approx 82,904 employees employed in the organization (Gray, 2015). The
company is expanding and flourishing its business activities and operations worldwide. It is one
of the biggest players in the in the UK who is dealing in various retail products. The company is
making good brand portfolio in the market. The organization has overseas sourcing offices in
Hong Kong, India, China, Turkey, Thailand, Malaysia, Italy, and Sri Lanka. The marks &
Spencer company has reopened its stores in Paris on 24th November 2011. Further, the firm is
making effective strategies and policies to meet the long-term goal and objectives of the firm
(Mohamed and Daniel, 2012). Further, the marks & Spencer deals in various clothing products
for women, children, and women as well as food products. The company analyzes and evaluates
the macro environment to gain the long-term competitive advantages in the market. The macro
environmental factors include political, economic, socio-cultural, legal and environmental factors
which affect the business activities and operations negatively (Toms and Zhang, 2016).
Organizational objectives
The main objective of the company is to provide a wide range of retail and food products
to the people in the market across the world. Further, the company wants to increase and
maximize its revenue and profit. The firm wants to recover their leadership in special food and
clothing. In addition, the company wants to achieve the stakeholder’s objectives for maintaining
3

Marketing plan and strategy
a good image in the market (Freear, 2015). The other objective of the firm is to create a retail and
effective environment which offers unbelievable values and provides satisfaction to the
customers by providing good quality of products to them. In addition, the company also offers
wine, flowers, and hampers etc. It will also help to increase revenue and market share in the
market across the world. Next and Arcadia group is the main competitor of the company in the
clothing industry and Waitrose with Tesco and John Lewis in homeware are the other
competitors in the food industry (Kant Hvass, 2014). In addition, the company has good and
effective core values which include innovation, integrity, and inspiration. These core values are
considered as a tool to work and interact with suppliers, customers, and colleagues in the
business. Along with this, behaviors and code of conducts helps to shape and form the culture.
The codes of ethics are significant to achieve long-term success and growth and to maintain
sustainability at the workplace. Further, the company creates a supportive and favorable working
environment to raise the profit of the company without fear of disciplinary action. In this way,
the company is able to deliver good quality of products to the customers. The organization
understands the customer values and the employees develop and build good relationship with
customers in the market (Scott and Walker, 2017).
Product and brand portfolio
Marks & Spencer is making strong brand position in the market. They have introduced
new and innovative products and services in their business of food and general merchandise.
They are expanding their business activities and operations by using various channels. They are
investing huge amount on band and product portfolio to increase and encourage revenue and
profit of the company. It reduces and manages the cost of the products in the market around the
world. The firm is managing supply chain process to improve the efficiency and productivity of
the business. Through brand portfolio, the company is able to maintain the quality of the
products in the global market (Kaiser, 2012). It also helps to maximize the values of the
shareholders in the universal market. M&S promises to enhance and increase the lives of the
people by providing good quality of products and services to them. The company is focusing on
the labeling and packaging strategies to provide satisfaction to the people around the world. They
take feedback from customers to improve quality of products and services which they offer in the
global market. The queries of the customers related to products and services are handled by the
4

Marketing plan and strategy
company regularly and properly. They are responsible to protect the customer’s personal data
and information. Further, the company provides proper employment opportunities to the people.
The company focused on the building and development a sustainable and effective business long
time period and it helps to increase the profitability of the firm. In addition, the company
maintains a healthy, safe and secure working environment in the organization. The company is
using marketing mix strategy to make a good product and brand portfolio in the market. The
marketing mix includes price, product, promotion, and place. The marketing mix plays a vital
role in Marks & Spencer Company. It is one of the biggest brands in the world who is providing
various food products and clothing (Summers, 2016).
Pricing strategies
Marks & Spencer is using various pricing strategies to increase the revenue and profit of
the company. Through this strategy, the organization is trying to gain the competitive advantages
in the market. In addition, the company uses the penetration strategy, discount strategy, and cost-
effectiveness techniques in order to gain the course of actions within the organization. Through
pricing strategy, the firm set the low prices to reach a wide fraction of the market. The company
is fulfilling the expectations, requirements, and needs of the customers by using penetration
strategy (Campbell and Rahman, 2010).
In addition, the company uses the cost-effectiveness strategy to meet the targets and
goals of the organization. This strategy is used by the company to improve the current prices of
the market. Through this strategy, the marks & Spencer focuses on the strategic cost
management, process automation, labor infrastructure, and material management techniques to
attract more customers in the market (Bhardwaj and Fairhurst, 2010). Along with this, the
company uses discount strategy to increase the demand for the products and it will also help to
hit the competitors in the global market. Appropriate and suitable prices are fixed by the
company to sale the more products in the market. Through pricing strategies, the company is
trying to overcome on its competitors in the market. It will also help to analyze and evaluate the
plans, policies, and strategies of the competitors in the global market across the world. Further,
the company uses various methods and techniques to control and manage the cost of the products
in the market. In this way, the company is expanding and growing its business day by day.
5

Marketing plan and strategy
Further, the organization is focusing on the quality of products by maintaining reasonable prices
in the universal market (Droge, Vickery and Jacobs, 2012).
Distribution strategies
Marks & Spencer Company uses various distribution strategies to increase the profit
margin in the global market. In distribution strategy, the firm uses various distribution channels
to promote and encourage the products and services of the company. Distribution strategy is a
major key element of the marketing mix. It plays an effective and integral role in the market.
None of the company can survive its business without using distribution strategies around the
world. Various distribution programs and campaigns are conducted by the company to enhance
and increase the sales and demand of the products and services (Grayson, 2011). Through this
strategy, the company collects information about the market of the country to distribute the
products across the world. It analyzes and evaluates the needs, requirements, and expectations of
the customers to provide good quality of food and clothes to the people in the world. Further, it
uses the advertisement strategy to gain the competitive advantages around the world. Through
this strategy, the company can reach its target market to increase the demand for the products
(Keller, Parameswaran and Jacob, 2011). The firm uses various distribution channels such as the
internet, distributor, catalog, dealer, and consultant. By using distribution channels the company
can increase and enhance the productivity and efficiency of the employees. This strategy helps to
explore its business activities and operations across the world. Through this strategy, the
company is able to differentiate its products from the competitor's products and services around
the world (Leonidou, Katsikeas and Morgan, 2013).
Promotional mix
It is the effective marketing strategy which is used by the company to attain various
competitive advantages in the market. Through this strategy, the Marks & Spencer emphasizes to
provide a general message to the customers related to the prices and qualities of the products and
services. The social media, print media, mobile, TV, and other social media campaign are used
by the organization to promote the products and services within the firm. The firm uses its own
website to promote and encourage its brand, clothes for men, women, and kids. It provides
various fashion tips on its website (Fernie, 2014). The company also promotes and encourages its
6

Marketing plan and strategy
sales by giving special discounts to the loyal and honest customers. It will also help to reduce the
competition in the market across the world. Effective promotion is an important key element of
the marketing mix. It will also help to persuade more customers to buy the products of the
company. It will create loyalty, confidence, and trust among the employees in the global market.
The firm can easily reach its goals and objectives by using this strategy. Further, the company
should focus on the working environment to increase and enhance the productivity and
efficiency of the employees (Moore, Doherty and Doyle, 2010) There are five components of the
promotional mix which include advertising, personal selling, sales promotion, public relations
and direct marketing. This strategy helps to generate revenue, profit and cash flow of the
company. If the company wants to launch a new product and service in the market then
promotional mix provides a good opportunity to increase and enhance the outputs and results of
the firm. It also helps to maintain a good connection with its loyal customers to make a good
image in the global market. The company should enhance and improve the promotional mix to
introduce new innovative products in the market (Kapferer, 2012).
Conclusion
The report is based on the marketing strategy and plans to develop and maintain a good
relationship with customers in the market. On the above discussion, it has been analyzed and
observed that Marks & Spencer is using effective and unique pricing strategies, distribution
strategies, brand portfolio and promotional mix to attract more customers across the world. It
will also help to gain competitive benefit around the world. The company provides various retail,
food products and clothing to the customers. Along with this, various future plans and strategies
have been made by the company to increase and expand the business activities and operations in
near future. It will also help to produce new and innovative products for the consumers around
the world. To achieve the long-term future goals and objectives, the company must motivate the
employees to do work effectively and efficiently and it should maintain sustainability within the
organization. In this way, the success and progress of the company can determine and evaluated.
In this way, the company can make effective plans for the future.
7

Marketing plan and strategy
References
Bhardwaj, V. and Fairhurst, A., 2010. Fast fashion: response to changes in the fashion
industry. The International Review of Retail, Distribution and Consumer Research, 20(1),
pp.165-173.
Campbell, D. and Rahman, M.R.A., 2010. A longitudinal examination of intellectual capital
reporting in Marks & Spencer annual reports, 1978–2008. The British Accounting Review, 42(1),
pp.56-70.
Droge, C., Vickery, S.K. and Jacobs, M.A., 2012. Does supply chain integration mediate the
relationships between product/process strategy and service performance? An empirical
study. International Journal of Production Economics, 137(2), pp.250-262.
Fernie, J., 2014. 02 Relationships in the supply chain. Logistics and retail management:
Emerging issues and new challenges in the retail supply chain, p.35.
Freear, J., 2015. Marks and Spencer and the social history of food c. 1950-1980, with particular
reference to the relationship between consumer behaviour and retailing strategies (Doctoral
dissertation, University of Leeds).
Gray, J.A., 2015. Business, the Environment and the Consumer 1968-1992: The Case of Marks
and Spencer (Doctoral dissertation, University of Leeds).
Grayson, D., 2011. Embedding corporate responsibility and sustainability: Marks &
Spencer. Journal of Management Development, 30(10), pp.1017-1026.
Kaiser, M.J., 2012. Hydrocarbon production forecast for Louisiana—Producing field
module. Mathematical and Computer Modelling, 55(3), pp.564-589.
Kant Hvass, K., 2014. Post-retail responsibility of garments–a fashion industry
perspective. Journal of Fashion Marketing and Management, 18(4), pp.413-430.
8

Marketing plan and strategy
Kapferer, J.N., 2012. The new strategic brand management: Advanced insights and strategic
thinking. Kogan page publishers.
Keller, K.L., Parameswaran, M.G. and Jacob, I., 2011. Strategic brand management: Building,
measuring, and managing brand equity. Pearson Education India.
Leonidou, C.N., Katsikeas, C.S. and Morgan, N.A., 2013. “Greening” the marketing mix: do
firms do it and does it pay off?. Journal of the Academy of Marketing Science, 41(2), pp.151-
170.
Mohamed, M.E.J.R.I. and Daniel, D.W., 2012. Analysis of retailers’ communication approaches
in sustainability and social responsibility reports. International Journal of Marketing
Studies, 4(2), p.30.
Moore, C.M., Doherty, A.M. and Doyle, S.A., 2010. Flagship stores as a market entry method:
the perspective of luxury fashion retailing. European Journal of Marketing, 44(1/2), pp.139-161.
Scott, P. and Walker, J.T., 2017. Barriers to ‘industrialisation’for interwar British retailing? The
case of Marks & Spencer Ltd. Business History, 59(2), pp.179-201.
Summers, A., 2016. Christian and Jewish Women in Britain, 1880-1940: Living with Difference.
Springer.
Toms, S. and Zhang, Q., 2016. Marks & Spencer and the Decline of the British Textile Industry,
1950–2000. Business History Review, 90(1), pp.3-30.
9