Analysis of Marketing Mix: Marks & Spencer's Product Strategies

This report analyzes the marketing mix of Marks & Spencer, focusing on its product strategies. The report highlights how M&S uses its marketing mix to attract customers and increase its market share and profitability. The report emphasizes the significance of quality, innovative design, and packaging in the company's product strategy. It also highlights the importance of using innovative technologies and maintaining high-quality standards to improve customer satisfaction. The report references several academic sources to support its analysis, showcasing how Marks & Spencer leverages its marketing mix to influence consumer behavior and gain a competitive advantage. The report concludes that the company's effective use of marketing strategies, particularly those related to its products, has allowed it to strengthen its brand image and maintain a loyal customer base.

MARKETING MIX- PRODUCTS
Marketing Mix is tool that is used by Marks and Spencer to
promote its products and services to large number of customers
and increasing its sales and profit margin. Company offers
wide varieties of products and service for all age group such as
men, women and kids to expand its market share (Bustamante
and Donangelo, 2017). Various strategies are used by firm to
influence and motivate people to purchase products of Marks
and Spencer such as innovative design, packaging,
technologies used, and maintaining quality to attract people.
Packaging: Marks and Spencer has an distinct
packaging of its all product and services so that
people can easily differentiate between companies
products and other competitors products.
Quality: Company maim objective its to maintain
quality and standard of product to gain competitive
advantages and satisfy needs of customer in most
effective manner.
Value: Marks and Spencer products and services are of high
value so the people are ready to pay extra and competitive
price to the company (Stark, 2016).
Design: Innovative and creative design of
various products and services attract
younger generation to purchase products of
Marks and Spencer.
Technology: Company has used
innovative technologies to manufacture
and deliver qualitative product to
people so that it can increase its brand
image and customers satisfaction.
Usefulness: Marks and Spencer
products are highly useful so it also
influence and motivate people to
purchase product of company
(Cooper, 2016).
Therefore it can be stated that company has
effective use marketing strategies such as
products in order to influence customers and
increase its market share and profitability in the
industry.
REFERENCES
Books and Journals
Bustamante, M. C. and Donangelo, A., 2017. Product market competition and industry
returns. The Review of Financial Studies, 30(12). pp.4216-4266.
Stark, J., 2016. Product lifecycle management. In Product Lifecycle Management
(Volume 2) (pp. 1-35). Springer, Cham.
Cooper, T., 2016. The significance of product longevity. In Longer Lasting
Products (pp. 29-62). Routledge.