Report on Marketing Principles, Decisions, STP at Marks & Spencer

This report provides a comprehensive analysis of Marks and Spencer's marketing management, focusing on key marketing principles and their application within the organization. It evaluates the rationale behind marketing decisions made by Marks and Spencer, considering factors such as risk management, democratic leadership, situational leadership, IT decisions, and financial decisions. Furthermore, the report assesses the concepts of segmentation, targeting, and positioning (STP) specific to a product or service offered by Marks and Spencer, demonstrating how the company utilizes these concepts to effectively reach its target market. The analysis includes a discussion of the marketing mix (product, place, promotion, price, people, process, and physical evidence) and its role in shaping Marks and Spencer's overall marketing strategy. The report highlights the importance of ethical duties, promotional strategies, and competitive pricing in the context of Marks and Spencer's business operations.

Marketing
management

Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................4
A description of key marketing principles and how these apply to your chosen organisation. . .4
Appraise the rationale of marketing decisions taken by your chosen organisation.....................6
Assess the concepts of segmentation, targeting and positioning specific to a product or service
offered by your chosen organisation............................................................................................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
The marketing management of a business is responsible for development of a business
entity by development of its sales and promotion (Avila-Robinson, and Wakabayashi, 2018). It is
the key function of marketing management to develop focus on application of marketing mix
helps a company to develop a marketing strategy. In the recent times, it is essential for the
business entity to develop major emphasis on development of marketing planning framework. In
this report various dimensions of marketing are covered in a precise manner in order to develop
marketing mix. This includes application of segmentation, positioning and targeting of a product
in order to serve the target market. In this project example of Marks and Spencer company is
taken into consideration which was established in the year 1884 and based in United Kingdom.

TASK
A description of key marketing principles and how these apply to your chosen organisation
Marketing principles
Marketing principle are the ethics and norms under which a business organisation should
work. Firm use different marketing principles to advance the performance of existing outcome or
to introduce new product in the market. Marketing mix is one of the important tools and
techniques for designing any product promotion strategy. The application of marketing mix helps
a business to focus on emphasis on key areas of development by promoting a product. All major
marketing principles focus on ethical duties of a business to serve target customers in a different
manner (Balducci, and Marinova, 2018). Various tools and techniques which are used by a
business entity helps in supporting development of marketing areas and functions.
Marketing mix
Product - This refers to the product or service that company offer to their customers are,
packaging of product, how an item looks, and warranty given. M&S garments products are
known for their good quality of stuff moreover style and variety besides these factors
manufactured using sustainable methods, packaging is also done with recyclable materials.
Place - This encompass where the product is made, viewed in advertisement, sold and company
should make sure that their buyers are not facing any difficulty to get the product it needs to
assembles to their customers at right place with right time. M&S has its 600 plus stores in UK as
well as established, its international brand has more than 1000 stores operating over 50 countries.
Promotion – Promotion is doing with many ways like, newspaper, radio, online promotions,
advertising. By communicating with the people they get to know about the product company
need to select on how they want to give their target massage to their customers. M&S choose its
marketing strategy very carefully as they align there advertising through campaign with digital
marketing by providing blogs on their own website related to fashion and lifestyle (Bruhn,
Kirchgeorg, and Meffert, 2018). Apart from these they provided season sales to attract their
customers. Marks and Spencer also develop and take assistance of a promotion campaign which
is effective in order to develop focused advertisement methods. In the recent times due to
increase in globalisation, company is developing a promotional strategy with help of successful
marketing campaign. There are international business organisations in the marketplace which put

a major emphasis on overall development of the company by taking into consideration major
facts and figures. Promotion of sales is essential for a business entity to develop desired revenue
from the marketplace. All companies including Marks and Spencer should analyse the
importance of promotion and take feedback from different customers to develop a focused
approach. This is also one of the key role of marketing management to promote a product from
its launch to evaluate major practices. In order to develop a major strategy at the marketplace, a
business should consult its strategic management. The company is also using social media
advertising using the application of information and technology. All business entities should
regularly perform assessment of practices which are deeply related to promotion of a particular
product. It is also one of the key function of marketing management to use online advertising in
order to reach customers in different parts of the world. A company should also focus on
analysing key concepts of marketing for the development of effective and major approach.
Price – M&S is a premium retail store because of which they set its rates from medium to high
level. Company adopted the dynamic pricing strategy they offer the special discounts in the time
of festivals to attract the buyers, this helps the company to clear out their old stocks without any
losses. It is compulsory for Marks and Spencer to put focus on key areas of pricing in order to
provide products on affordable rates. All major companies in the international and national
marketplace decides to sell goods as nominal price to develop a competitive edge. All business
entities should also take consent of top level and board of directors of a business to develop
major marketing decisions. Price of a product is related to long term policy related to pricing by
a company (Deepak, and Jeyakumar, 2019). In order to develop a major and effective approach
in pricing, a business can take feedback from different persons. The pricing is related to
development of a unique strategy which is based on overall development of the business.
People – Those who run the business from front line sales staff to the managing director.
Having the right people for the company is essential because they are as much part of their
business they are offering as the product or service. M&S gives special attention to their
employees, there are over 7000 employees working in the company. Apart from giving salary to
employees’ company should also provide special rewards on basis of their performances to boost
their work and encourage them for doing the work. Employees of a business should be also
provided with effective monetary and non-monetary benefits in order to increase their

performance. This also supports a business entity to increase profitability along with enhancing
productivity of employees.
Process – The process of bring product to the buyers should be design for greatest efficiency and
dependency. M&S operates in globally and specially in sub urban areas in malls it divided into
different floors and divided into sub sections for kids, women together with men and apart from
this there is furniture and gift section is also. In other words, process is considered as major
approach which mainly includes operations and productions management.
Physical evidence - Proof that the brand exist includes like their physical stores and online
websites. M&S have its own website from which the consumer orders their product and gets
home delivery by this, also they have physical stores over 50 countries all these stores act as
physical evidence. The value development in a brand also play a major role in increasing
goodwill and reputation of a company (Eryigit, 2017) . In order to develop physical evidence
related to a workplace, it is also essential to focus on achievement of different skills. It is also
essential for a business organisation to develop a key strategy to focus on developing a major
physical evidence.
Appraise the rationale of marketing decisions taken by your chosen organisation
The marketing decisions are considered as a major approach which is effective for a
business to develop and achieve marketing goals and objectives. In order to increase the
effectiveness and efficiency of marketing mix, it is essential for a business entity to develop
organisational decisions. Decisions should be based on major development based practices which
are essential for a business in order to achieve marketing development practices. Decision
making is also crucial element of a business in order to lead the marketplace in a short span of
time. It is also important for a business to understand major aspects of decision making in order
to survive at the marketplace (Gursoy, 2018). In the recent times, it is important for a business to
develop marketing goals according to key areas of business development. The following are
major rationale of decisions at Marks and Spencer:
Risk- In the international marketplace, risk is considered as an important factor which is part of
market forces. Risk in marketing operations majorly impact on the profitability and sales of a
company. The risk management models and theories are used by marketing management of
Marks and Spencer in order to develop systematic approach at the marketplace. Risk is also a

major part of a business entity which impact on major operations of marketing. In the recent
times, risk management is essential for development of a business in a set period of time. In the
modern organisations in global marketplace focus on key development based goals and
approaches that are essential for eliminating risks. It makes management is to analyse its various
risks related to market that cause their business in order to make decisions that helps in facing
and reducing these risks in effective manner.
Democratic leadership- The democratic leadership is a major type of practice which impact on
direct and indirect decision making of the company. In this approach a business organisation
focus on decision making by taking assistance of subordinate employees. This approach is also
beneficial in increasing strength of a business by developing major organisational targets. In the
democratic leadership, decision making is quick and accurate for major companies in order to
lead at the marketplace (Homburg, Jozić, and Kuehnl, 2017). The democratic leadership is also
considered as focused approach developed by a business in order to formulate major decisions of
the business entity. In major decisions of the organisation, it is essential to focus on marketing
decisions of the company for long term achievement of different objectives. It allows employees
to give their suggestions in order to make any decisions related to market. It makes employees
important for the organisations as well as get highly motivated can give most effective ideas that
help management to make most effective decision.
Situation based leadership- The situation based leadership includes decision making based on
different decisions of company. Situation based leadership develops effective and major
decisions of the company with support of policies and plans. In order to develop a dynamic
business organisation, it is essential for a business entity to put focus on situational based
leadership. This is also one of the key responsibility of a company to develop situation leadership
for overall development.
IT decisions- In the corporate world, IT based practices are considered as key approaches which
helps a business to develop and formulate key decisions. All major decisions of IT in a business
are taken by IT experts and professionals for development of effective strategy. The IT based
decisions are important for a business in order to save privacy of different customers (Hüttner,
2018). IT based operations at Marks and Spencer includes the use of advanced computer systems
and software for development of key operations and IT works. Information technologies are
updating day to days, it become important for its management to get more aware about these

updates in order to make most effective decision in order to market their brands and offerings in
most effective manner.
Financial decisions- The financial decisions of a company are also inter-related to major
marketing operations which are developed by a company. This is the major responsibility of
financial management of Marks and Spencer to prepare budget is related to business. In the
budget, a business should include practices of trade and development in order to perform major
financial decisions. Budgets makes them to analyse those things that are most effective as well as
according to their budget helps its management to make effective decision in effective manner.
It also makes its management to monitor their overall financial performance by using cash flow
analysis and ratio analysis in order to get more informed in order to make decision for the
company in effective manner.
Marketing decisions- These are one of the major decisions of a business entity in order to
perform sales related operations. In marketing department, major decisions are related to
marketing goals which are helpful in providing support to a company. In the development of a
business organisation, marketing decisions are developed and taken on permanent basis. The
marketing decisions are based on practical approach which is beneficial for a business in order to
improve marketing activities. It is also important for the management of Marks and Spencer to
get more aware about marketing strategy of its competitors in order to make most effective
decision that helps in increasing their competitive position in the market as well as improve their
productivity in effective manner.
Organisational decisions- The organisational decisions of Marks and Spencer are taken by top
level and strategic management of a business entity. It is important to give a main focus on
organisational decisions as they include maximum risk at the marketplace. In the recent times,
organisational decisions are majorly important for global companies for systematic development.
It is major responsibility of a business to develop organisational decisions with key advantages
and development based approaches (Labanauskaitė, Fiore, and Stašys, 2020). The decision
makes their working environment effective in order to perform its various functions in effective
manner.

Assess the concepts of segmentation, targeting and positioning specific to a product or service
offered by your chosen organisation
In the marketing, there are various parameters which helps in development of a business
entity in a short period of time. It is also mainly important for a company to include application
of various approaches that are effective in providing crucial decisions related to a business entity.
It helps companies to attract right customer for their products as well as increase their marketing
efficiency in order to market their products and services in most effective manner. Marks and
Spencer performs various business operations with the support of business organisation in order
to develop specific objectives and goals (Marinchak, Forrest, and Hoanca, 2018). The company
develops STP approach in order to promote clothing products at the marketplace. In the
corporate world, it is essential for focusing on major issues related to marketing for development
of business strengths. The STP approach for development of Marks and Spencer is mentioned
below:
Segmentation- In the overall expansion and growth of a business segmentation plays a major
role. The segmentation includes dividing marketplace in different parts in order to sell a
particular product or service. This is key responsibility of a business to include segmentation in
marketing mix for dividing market on the basis of segmentation (Srinivasan, R. and Ramani, N.,
2019). The application of segmentation includes development of a planning framework in order
to formulate a major business strategy. It divides the customer in different parts with the help of
common characteristics and needs related to customers such as demographic, geographic,
psycho-graphic and behavioural. Demographic segment describes personal attributes of
customers such as gender, age, marital status, education, ethnicity and sexuality. Geographic
segment includes country, state, region, city or neighbourhood related to customers. Psycho-
graphic segment describes personality, values, lifestyle, or risk aversion. Behavioural segment
describes how an individual use the product, their loyalty and what benefits they are looking in
the product.
Targeting- Act of targeting includes identification of business in order to serve target customers
in a well-defined manner. After the successful screening of target customers, a business entity
plans to formulate major practices which is able to serve them in a precise manner (Matsuoka,
2020). There is a significant increase in customer satisfaction with the support of target
customers based policy. In the current scenario, major companies like Marks and Spencer targets

youth for different products and services. In targeting, there are major international companies
which include a strategic framework for providing world class services to different customers. In
targeting company also put emphasis on key goals and objectives that are essential for business
growth (Shkurkin, Krasyuk, and Zakharenko, 2017). Targeting and its practices are important for
business growth in a set period of time as it leads to develop specific strategy which is helpful in
growth of whole business. Marketing staff of a company should follow ethical practices in order
to develop key goals and objectives. Business targets are formulated at the starting of a financial
year and it is also crucial to focus on medium and short term goals. It helps company to identify
best opportunities by choosing effective segments in order to analyse their target customers in
effective manner. According to the products of Marks and Spencer it is analyse that
Demographic segment is more useful for them in order to analyse their target customer in
effective manner as well as earn maximum profit. Their products are designed according to the
age, gender, marital status, etc. related to customers. This makes easier to attract their potential
customers for their product in effective manner.
Positioning- Selecting right position to sell a particular product is essential for Marks and
Spencer. The act of positioning helps a company to achieve business targets which are
formulated at the starting of a fiscal year. To develop right positioning of a product, it is
important to focus on selection of a geographical location for selling the commodity. Marks and
Spencer choose right platform like online shopping or offline stores to sell clothing products. In
order to sell clothing products at the marketplace, it is compulsory for a company to attract target
customers. Selecting right positioning develops a key approach for a business to define and
strategic development (Shchepakin, and Shumsky, 2018). Positioning is the major act performed
by marketing management of a company in order to achieve the set business targets. The
customers should be served in a well-defined manner with support of major business strategy. In
current global business environment, it is compulsory for a company to develop major strategy
which include practice of positioning. In today's world, online marketing is too popular which
makes them to promote their products through online sources or social media in most effective
manner. It makes easier for the customers to purchase products in effective manner.

CONCLUSION
From the above discussion it can be concluded that in current global business
environment, it is compulsory for a company to develop major strategy which include practice of
positioning, targeting and segmentation. This project concludes the importance of information
and technology in order to develop major marketing functions and goals. The above analysis
concludes role played by strategic marketing management in order to establish effective
framework for marketing functions and operations. The above report also includes application of
marketing mix in order to lead the marketplace with support of promotional strategy.

REFERENCES
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