An Analysis of Marketing Strategies and Plans for Marks & Spencer

This report provides a comprehensive analysis of the marketing strategies and plans employed by Marks & Spencer (M&S), a multinational retailer. It begins with an introduction to marketing concepts and the company's background, then delves into the role of marketing strategies and plans within the organization, supported by relevant marketing theories. The report examines M&S's strengths, weaknesses, opportunities, and threats (SWOT analysis), alongside PESTLE factors. It further develops a marketing plan for M&S, focusing on customized wedding gowns, including market analysis, target market identification, and advertising goals. The report also covers the marketing mix (7Ps) and provides insights into marketing program elements like marketing audit, strategy, and planning, concluding with the importance of marketing control and new product development.

MARKETING

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
Role of marketing strategies and plan in organisation with relevant theories of marketing.......1
TASK 2............................................................................................................................................5
Development of marketing plan .................................................................................................5
CONCLUSION..............................................................................................................................14
REFERENCE.................................................................................................................................15

INTRODUCTION
Marketing is an activity, instruction and process of creating, communicating with
customers, delivering and exchanging offers and product review with clients, partner, customers
and society through social media or door to door at large scale – by American Marketing
Association (AMA). Present study is based on Marks & Spencer company which is a multinational
retailer company founded in 1884, deals in clothing, home products, food, cosmetics and furniture
(Lovelock & Patterson, 2015).
It is also listed in London Stock Exchange. Over thousands of employees are working with this
company.
Reports will include the role of marketing strategies in the company. Further it discusses
next three years segment and the strategy of marketing to increase sale in the market and position
of brand and also its relevant theories. Last point explains the marketing plan of Marks & Spencer
to achieve business growth structure and profitability in relation to its competitors.
TASK 1
Role of marketing strategies and plan in organisation with relevant theories of marketing
Marketing includes research, adverting, targeting work and communication either through
mail or often related to public. Company's whole establishment depends upon the process of
marketing. Marks & Spencer is a multinational retailer company specifies in selling clothing, home
products, cosmetics and food products and financial services (Kotler & et.al., 2017). Marks &
Spencer has the biggest achievement in terms of success and profitability from the day of its
establishment and also earn reputation by way of delivering quality products, innovation and
service and products at reasonable price which in return give a valuable marketing.
Marketing strategies supports business in knowing more about competitors and making
changes in existing strategies so that business can satisfy its consumers to great extent. One of the
major role of marketing strategy and plan is to choose correct target market where firm can meet
the needs of buyers and can make them loyal towards the brand. Marketing strategies play the role
of price fixer, as it supports in taking right decision about price (De Mooij, 2018). Furthermore, it
also plays the role of resource utilizer in the firm. By this ay company can know about wastage of
resources thus, can manage its resource well. It is beneficial in order to fix advertising budget. This

aids in developing a systematic procedure through which overall scope of business can be
determined easily.
For maintaining the position in the market, marketing strategies plays an important role.
The role of marketing strategy is to do the comprehensive, systematic, analytical, evaluation and
interpretation of business in the marketing environment both in the internal and external affairs of
the company (Chaffey & Ellis-Chadwick, 2019). Marketing strategies aids in analysing actual
positon of firm and conduct operations accordingly. This is beneficial for the firm in order to gain
success and increase demand of products to great extent.
SWOT analyses is considered as most essential marketing theory that supports business in
identifying its internal position or internal environment of organisation. SWOT analysis further
elaborated as Strength, Weakness, Opportunities and threats of the internal and external affairs of
the company matters. All these elements support marketing manager in designing effective
strategies and preparing worthwhile plan so that enterprise can fulfil its marketing objective
successfully.
STRENGTH
Marks & Spencer has numerous strength to adjust place in the market. There are 3 points
which clearly identifies its strength in different streams- Market Experience ~ Marks & Spencer is
multinational retailer company (Tuten & Solomon, 2017). It works with numbers of big companies
in UK and abroad and also have a strong network in the market. They have the best track record in
the field of inventing or bringing new products in the market. Brand Recognition ~ Company has
their own branded labels. From the years ago Marks & Spencer had invested a huge amount to
maintain the brand portfolio which in return is so useful to launch new product in the market. It's
the policy of the company that whatever the demand may be, low or high the quality should be
appropriate and at its best. International Stores ~ Marks & Spencer company has many online
market, stores and website which enable company to have a wider range of business (Marks &
Spencer SWOT Analysis, Competitors &USP, 2019). Over thousands of employees are a part of
their business.
WEAKNESS :
As per the growing era the expenses also increasing it's up to the company that how they
can survive with this recession wind as Marks & Spencer faces a huge recession period in

Christmas year in 2017 and for that they decided to close 14 of their stores and also the reason is of
huge employees working in the company and their salary factor and also high growth business
rates (Blythe & Martin, 2019). Company can't manage their financial planning, as company is
earning good but didn't have good investment plan. Company can't manage with their sales team as
their profitability ratio and net worth are below the industry level and also they are not able to
tackle new challengers raised in the market because of lack of planning in marketing team.
OPPORTUNITIES -
As in market new technologies are innovating, company adopt the technology to bring new
websites to expand their business. Due to global market, the taste of customers also changes, so
company grab the opportunities to which is in demand and make the marketing polices according
to that because once the customers adopt the changes than the brand name of company is effected
which also affects in their profit ratio (Ryan, 2016). Marks & Spencer always adopt the
opportunities to expand their business, so only in Europe and Asia but also Brazil, Poland, China
and India will be the next target of the company.
THREATS :
Due to high competition in the market, the chances of loss in business arises. Makers &
Spencer can't beat the other company if they had no marketing plans. Marketing strategy applies
different for different countries and companies also, they just have to make a proper plan and
implemented to crack the competitors chain and continue to be the top position in the market.
Contents of Plan:
Marketing audit determines the working of mangers in a marketing department and how
they carry their marketing activities and also attains the Marks & Spencer overall performance
report and the factors which summarized the company into SWOT Analysis can be evaluated as
SWOT analysis shows the strategic ray in the internal and external affairs of the company and also
calculate the facts and figure to analyse the strategic planning of the Marks & Spencer company
(Atwal & Williams, 2017). It helps the company to cope up with the current situation and to
implement such strategies to give tough competition in the market in the near future (Marketing
Audit, 2019).
Mission Statement of Marks & Spencer task have to minutely examined the market,
customers, clients, competitors, suppliers, distributors which has power to affect the company

strategy, so mangers have to apply their marketing strategy in case when any crucial time arises
they have their second backup plan.
Corporate objective is mainly related to the business to establishes their organisation and fulfill
their desired performance and need in the company management. Marketing objective is related to
marketing the supports Marks & Spencer companies in making strategies such as product, price,
distribution, marketing communication and market force (Bowie & et.al., 2016). A proper audit
should be done by the managers because in most cases fraud arises in the prices and product
quality and it all affect the sales criteria and company strategy for development process..
Marketing Strategy: Managers examined the strategy of Marks & Spencer company,
accordingly goals and objectives are designed. As strategies in marketing affects the impact on
company performance. Company designed its goals in such a way that it results to progress in
company matters.
Marketing Mix is another most important theory of marketing. It consists of 7majour
elements these are product, price, place, promotion, people, physical evidence and process. All
these elements help the business in meeting the needs of buyers and offering them satisfactory
goods and services (Fill & Turnbull, 2016). Multinational companies use this theoretical
framework in order to design effective marketing strategy. By this way enterprise can reach to
mass audience and can gain attention of people. This helps in expanding business globally and
raising profitability of organisation to great extent.
Marketing Programme: It clearly shows that evaluating the performance of marketing
activities of Marks & Spencer companies, the cost and profitably of the company can be analysed
and accordingly the procedure is implemented. By this analysis the company can further make the
changes and if they feel that the productivity of the company is not according to the company
strategy than a proper training and supervisor is appointed to give them a proper direction (Charter
& Polonsky, 2017).
Marketing planning regarding schedule and budget - The company who authorised a
person to do all the planning activities have to be minutely examined because marketing is
completely based on planning process and if there is lack in any one step, the further process is of
no use (Katsikeas & et.al., 2016). Marketing Information System - Company has to store the data
related to marketing which is gathered formally, analysed, stored and distributed to managers in

accordance to the information that needs on a regular basis. This process helps company to grow
longer because the secrets to achieve success comes up with proper numbers and profit ratios and
breach of any information or data can also be analysed.
Marketing Control and monitoring - Marketing control is a crucial part of a marketing job.
As Marks & Spencer company implement this process to evaluate, analyse and measure the results
of marketing strategies so that plans and actions are taken to achieve the goal of company (Felix,
Rauschnabel & Hinsch 2017). New Product Development System – When Marks & Spencer
company launch a new product or services, the preliminary step is to bring a new product or
services but before the process of development following number of steps to be completed to
launch the new product in the market.
TASK 2
Development of marketing plan
Marketing plan is a report that outlines the marketing strategy for organisation. It includes
overview of the business's marketing and advertising goals and it also includes description of the
business's current marketing position.
Marketing plan of Mark& Spencer's product of customized wedding gown. Mark& Spencer
will make plan for their customised wedding gown that increase 20% of selling in next 2 years
(Homburg, Jozić & Kuehnl, 2017). Mark& Spencer company will describe the target market of the
company and customer needs, the company's current marketing position and advertising goals in
their marketing plan. Marks and Spencer follows flat organisation structure, as it helps in making
effective communication between various departments and smooth functioning of operations.
Participative management structure will be followed because by this way people will be able to
interact with each other properly.
Situation and environmental analysis
SWOT analyses
Strength
 Global brand presence
 Strong financial position
 Market leader
Weakness
 Poor financial planning
 Poor investment strategies
Opportunities Threats

 Globalisation
 Technological advancement
 Changing legal norms and regulations
 High competition
PEST analyses
Political factor: M&S is required to understand political condition of nation before making its
marketing plan. If there is political instability so company has to consider these things and have to
make plan accordingly. Social factor: This is another essential element that impact on marketing
plan of company, firm has to ensure preferences, taste of consumers and accordingly have to
market its wedding gown clothes (Moorman & Day, 2016). Technological factor: M&S has to
ensure using advance technology so that it can reach to mass audience and can make them aware
about its new products. Economic factor: M&S has to ensure economic condition of nation and
accordingly has to set its selling prices or has to take pricing decision so that it can gain attention of
mass audience.
Impact of Brexit
According to statistics, in 2015, the UK exported £133 billion worth of goods to the rest of
the EU, which is almost equal to half of global goods exports. It is predicted that the UK
will experience a loss of at least £4.5 billion a year, if they leave the EU without
negotiating a new trade agreement with the EU.
This could take a major hit on export businesses in the UK, as their costs will hike up with
the increased tariffs. It will result in UK businesses being less competitive in the EU
markets and globally, as well.
Mark& Spencer's capability: -
M&S had a market leading share of the customized wedding gown. They used their
resources and subsequent capabilities to exploit their differences from the competitors and create
competitive advantage by:
Closely managing supplier relationships
Brand management

Excellent customer service
Excellent working conditions
Strategy selection
If customer purchase the product immediately company offer the 20% cash back for purchasing the
customize gown. When customer purchase the customize wedding gown. Company will Provide
the discount vouchers which will give the discount on their other product. Large stock of customize
wedding dresses according to customer needs (West, Ford & Ibrahim, 2015). Available in over 50
colours and sizes. In starting 3 months’ company will offer 50% discount for their first 100
customers who purchase the gown. Marks and Spenser company Redeem points on giving
recommendation to different customers on their purchase as a promotion of store. Special discount
on customer's birthday if they purchase or order any gown from the stores. Company offer
premium card to the regular customers which also provide several benefits other than discount.
Marketing objectives
It is a brand's defined goals. They outline the intentions of the marketing team, provide clear
direction for team members to follow, and offer information for executives to review and support
(Goldberg, Fishbein, & Middlestadt, 2018). Objective of M&S is to increase profitability of
company and increase sales demand by 30% till the end of 2019. Objective of company is to open
2 more branches in other country within 6 months.
Segmentation, targeting and positioning
Segmentation
It is a process of dividing the market of potential customer into different groups and
segments on the basis of certain characteristic (Olson & et.al., 2018). There are some categories of
segmentation: -Demographic segmentation, Geographic segmentation, Psycho-graphic
segmentation, Behavioural segmentation. Marks & Spencer will use demographic segmentation
to select its target markets for its product. It will target its customers by age and gender.
Age: - Marks & Spencer will target people in the bases of age for its wedding gown cloths . This
will help in offering such cloths to lady’s asper their needs and requirements.

Income: -Furthermore M&S will also target on the bases of income of people, it will target middle
class people towards its products.
Marks and Spencer divide its market in few segments. It divides its audience in few
parameters like, according to the demographic, the institution divides the consumer into age,
gender, education etc. and geographically by country, region or state, and psycho graphic by
consumer's attitude, values, risk etc (Menon & et.al., 2015). Now, Marks and Spencer is
launching a new apparel section exclusively under its brand name that is 'Customised Wedding
Gowns'. For this, the firm is going to segment the market in terms of gender that is for female
and for age group above 20. Psycho graphically, according to women’s perception, the colours
of gown will be white, red, black and rest will have customised according to customers need
and preferences.
Targeting
It involves split the market, choosing which is segment of market are appropriate and
determining the products that will be offered in each segment. There are four target marketing
strategies:-Undifferentiated marketing, Differentiated marketing, Focus and concentrated targeting,
Customized marketing. Mark& Spencer will follow differentiated marketing strategy to select
its segment for its product (Lovelock & Patterson, 2015). Mark& Spencer have several target
segments that the company will serve profitability. A differentiated marketing strategy exploits the
differences between marketing segments by designing a specific marketing mix for each segment.
Mark& Spencer will develop a separate brand for each segment.
Targeting is essential part of marketing strategy, they need to maintain some market oriented
targets in their business to maintain sustainability. According to the size and potentiality, the
organisation needs to set a target. For the new apparel range, Marks and Spencer will calculate its
threats and opportunities and need to set and evaluate yearly targets so that they can gain from it.
Money is a huge matter in this, they need to set up a yearly budget and according to the budget the
organisation needs to take some quick action. It needs to set up a target that is easily accessible to
them. If the target is not achievable then they must think of an alternative target for their
organisation (Kotler & et.al., 2017). The target market for wedding gowns will be middle class
person. Furthermore, It will target young girls age 18 year.
Positioning

It considers the strength and weaknesses of the organisation, the needs of the customers and
market and the position of the competitors. The purpose of a positioning strategy is that it allows a
company to spotlight specific areas where they can outshine and beat their competition.
There are three positioning strategy:-
Value based positioning strategy
Need-based positioning strategy
The theory of creating brand image
Mark& Spencer will follow Value based positioning strategy. It will found on the choice of
customised wedding gown rather than on customer segment. Marks & Spencer designing only
customised wedding gown for customers would illustrate this position as they demonstrate their
excellence in one sub-segment of the customised wedding gown market.
Marks and Spencer holding an alignment relating to brand and products in the market. The
target of the company is to offer something big and better in the competition of the market. As
customers always attract to the products which are top rated and provide better quality in
comparison to the other products (De Mooij, 2018). Marks & Spencer holds a brand in the market
and the competitors influenced by their name only because market exit by brand and if company
maintain this name they remain forever. Every product has different brand name, so different
strategies should be implemented to so that more consumers can be attracted and enterprise can
maintain its position in market, different strategy should be analysed for different branding.

Illustration 1: Stages in Target Marketing strategy development
(Source:- Smart Sights marketing Strategy, 2019)
7P’s assessment
Marketing mix of Marks & Spencer analyses the brand which covers 4Ps i.e. product, price,
place, promotion and explains the Marks & Spencer marketing strategy. Marks & Spencer is a
famous and popular retail brand in the global based out of UK. Marks & Spencer gives
merchandise for girls that include like Blazers, Cardigans, Cashmere, Jeans, Linen, blouse, skirt
and many greater. Thus, they have planned to introduce new clothing product i.e. customized
wedding gowns exclusively for women (Chaffey & Ellis-Chadwick, 2019).
Marketing Mix of Marks & Spencer: