M&S Marketing Strategies: Contemporary Issues & Consumer Satisfaction

This report provides a comprehensive analysis of marketing principles and strategies employed by Marks and Spencer (M&S), a UK-based retail company. It explores the nature and importance of the marketing mix, including product, price, place, promotion, people, process, and physical evidence, within the context of M&S's operations. The report also delves into marketing theories such as STP (Segmentation, Targeting, and Positioning) analysis and the communication mix, explaining how these theories affect the business and contribute to consumer satisfaction. Furthermore, the report suggests that implementing STP analysis can enhance brand image and consumer base, ultimately satisfying user needs and wants. The study concludes that marketing plays a vital role in spreading product awareness, growing company recognition, and expanding business in the international market.

Contemporary Issues in
Marketing

Table of Contents
INTRODUCTION .......................................................................................................................1
MAIN BODY ...............................................................................................................................1
Nature of marketing mix :...........................................................................................................3
Importance of marketing :...........................................................................................................3
Concept of marketing mix and there various theories. .............................................................4
STP analysis :..............................................................................................................................4
Communication mix - ................................................................................................................5
Explain how marketing theories effect the business and satisfy consumers. ..........................5
CONCLUSION ...........................................................................................................................6
References:.......................................................................................................................................6

INTRODUCTION
Marketing is the term or separate department with in the company that is responsible for
spreading awareness of the product and services as well as increasing the sales scale of the
organisation. They majorly focus on the practical application of marketing orientation,
techniques and ways inside company and firm resources and activities. They main aim is to
promote the business and their services in the market place (Zela, 2019). These areas plays
a significant role in business organisation. In this report will consider the company Mark and
spencer it is UK based company which act as retail marketing. It majorly deals in home
based products, clothing and many others. This report will cover the marketing principle in
relation of considered company and further it will explain the marketing theory and strategy in
reagards of M&S, in last the report will suggest that strategy that effect the business in
satisfaction of users.
MAIN BODY
Marketing management is the organization discipline which concentrate on the practical
application of market orientation, methods with in the organisation, and the management of a
concern of a firm marketing resources. It consist of various marketing principle which
determine the major factors of the products and offers. Markerting mix refers to the set of
actions, or tactics that a company utilise to promote the trade or offers in the market place.
It consist of various factors which are listed in below :
1. Product - this is refers to the goods and services which is offered by the company in
the market segment by understanding the customer choice and their preferences. In this
factor the question arises that the goods which is offered by the company Is appropriate
or not. In relation of M&S, the organisation has been collaborated with sustainable
providers in order to acquire and market economic friendly goods. Such goods are
also produced by using sustainable methods. Goods packing is done by recycle
sources. This method has raised the confidence of various potential buyers.
2. Price - the value concern set must reflect the consumers perceived value of the
good, correlate with the budget and be set in a way that assures the turn a profit.
Costing has a huge effect on the success of the organisational and it can effect
marketing strategies, sales, profit and product demand. M&S, the goods of companies
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are in reasonable rate. This approach makes it easier for more purchaser to support
the concern sustainability objectives. They follow value based pricing of the goods.
3. place - This factor states that where goods being sold. It could be sold through
website, social media and many others. It encompasses each and every distribution
channel. Before placing an outlet the company must considered the target audience
will play a part when it comes to the business supply chain. In order to M&S, this
ensures that its locations and stores are sustainable. Energy conservation is also
embraced in relation to advice its CSR objectives (Ho, 2018).
4. Promotion - It means growing the brand awareness of a brand name, goods or service
to encourage consumer engagement. Promotion strategies operate on multiple levels.
They raise to trade name, increase sales and generate revenue. The business promote
their offers through two one is traditional mode and other one is digitalisation in first
one considers the print media, broadcasting, billboards and posters. In other one
includes social media, promotion and many others. In relation of M&S, the company
promotes their offers through social media and traditionally too. They convey the
content more about the CSR practices to the users. Their supply network is also
completed that can secure the atmosphere (Bachu, 2021.).
5. people - This means anyone involved in selling a goods or offers. Creating it,
marketing the company. That means any individual participated in selling a goods or
offers, designing it, marketing, managing units, presenting users, recruiting and
training. Assure that to maintain a positive brand image by addressing and resolving
and managed appropriately. In relation of M&S, every workers is engaged with
appropriate ability in order to support the company objectives. These approaches make
simpler for company to encourage the most sustainable policy whenever supporting
various nations.
6. process - It includes the services is delivers and how the goods is packaged etc.
crucially the process describes the series of actions or the fundamental components
that are considered in delivering the goods and services. M&S, delivers procedure has
been sustainable. Users are also motivates to recycle their clothes in order to conserve
the surrounding .
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7. physical evidence - It means more than just proof of purchase. It does not considers
this essential aspect, it also encompasses the total existence of the brand. All the
elements offer the users evidence they required to be certain that business is viable,
trustable and legitimate. In extent of M&S, firm offers various report to detail more
person about their goods and services. It also guarantees, business information and
report to convey to more stakeholders (.Widjaja, and et., al., 2018).
Nature of marketing mix :
Merchandising cannot possibly copy the natural sciences in its methodologies
positivist approaches have been accused of seeking meaning from quantitative data in a
very subjective manner which is at variance with scientific principles. It consist a various
components which is describe in below:
1. Product : It is any good or service that user want, it is a group of uses or a cluster
of tangible and intangible inventory. Goods elements of the marketing mix includes
planning, improving and manufacturing the correct kind of goods and offers. It deals
with varied dimensions of product line, durability and other qualities.
2. Price : It is an important factor of an achievement of the firm. Valuation decision have
a direct impression on sales ratio and profits of business. It is an important factor in
the concept. It is very typical to fix the right cost. It can be determine through
valuation research and test merchandising (.Jahnke, 2018).
3. Promotion: this is concerned with bringing goods to the knowledge of users and
carry them to purchase. It is the function of details and influencing the users
promotion mix includes decisions with regard to promotion, individual selling and
sales publicity. All these method assist to support the sale of cracking and fight
rivalry in the industry.
4. Distribution : This component of selling includes choice the place where goods are
to be displayed and made available to the users. It is concerned with decisions in
regards to the wholesale and retail outlet or programs of distribution. The major aim of
selecting and managing trade channels is to provide the products to the right users
management must consider where the users wants the goods to be available.
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Importance of marketing :
It has a positive effect on the business firms. It enables the industry the quality of their
goods and services. It able the organisation of their goods and services. It assist in the
living standard of people by offering a broad variety of products and services with
independence of choosing and by treating the users as the most crucial person. It produces
occupation both in production and in distribution areas since a business firm creates
revenue and earns income by reaching out marketing functions. It will pursue more and more
economic communicator of the nations to earn more profits (Kuester, Konya-Baumbach, and
Schuhmacher, , 2018).
A large scale business can have its own basic marketing network, media drive and
sales force, but a small unit my have to depend totally on personal efforts and resources,
creating it casual and limber. Selling makes or breaks a little enterprise rise staginess or
perishes with the attainment or failure as the situation.
Concept of marketing mix and there various theories.
It is a combination of four factors like price, product , promotion and distribution which is
used to satisfy the needs and wants of an enterprise target and at the similar clip attainment
its marketing objectives (Othman, Harun, and Nazeer, 2018). The major reason for
determining the marketing mix is to satisfy the needs and wants of the users in the most
effective mode. It have various theory which is listed in below:
STP analysis :
It is a descriptor for segmentation, targeting and positioning a three step model that
determines the goods or services as well as the way person communicate their advantages
to specifies customer segments. The further discussion is detailed in below :
Segmentation :
this is the first step in the model its main aim is to create various customer segments on
the basis of particular criteria and traits that person select. There are main type of
segmented consumers that are:
1. geographic Segmentation - It divide the users on the basis of country, region, state
and education .
2. Demographic segmentation - Separate consumer according to the age,
gender,occupation and many others.
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3. Behaviour segmentation – Separate users on the basis of their buying action, taste
preferences etc.
4. Psycho-graphic segmentation - Dividing the audience on the basis of lifestyle,
hobbies and opinions (.Gunawardane, 2020.).
Thus , the market segment of the M&S is demographic segmentation they divide the buyers on
the basis of age , occupation and many other factors.
Targeting :
this is second model which marks the users according the size, profitability and many
others. The main aim is to look at the segments the business have created earlier and
examine which of these segments are most likely to generate desired conversations. The
company M&S, target the consumers who are at 30 or plus age group with high income and
penalise job.
Positioning :
This is the final step in this model which permits business to set the goods or services
apart from the rivals in the mind of the target audience. The company M&S, positioned
them self as the luxurious brand in the market place.
Communication mix -
It involves all the instruments the business use to communicate with the buyers or potential
consumers (Juniardi, Haerani, and Munir, 2018).. This could be through advertising social
media, product packaging, direct marketing, websites, events, exhibitions and many others. It
is created with elements which are :
1. Advertising - it covers all approach where a concern pays for their content to be
programme. The M&S, uses this techniques to spread the brand awareness of the
product and services. So that trade name can be enhance in the market place.
2. Direct marketing - The emergence of social platform just grow the online shopping
and it also provides us a whole new way to do marketing. This way is important
reasonable if it is done appropriately. M&S, finishes it very correctly as well they
prefer online stage to advertise business in the eyes of the users.
Explain how marketing theories effect the business and satisfy consumers.
The above discussed theory states that the consumer satisfaction is important in marketing so
that they can be loyal consumer for the business entity. It is suggested from above study that
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the company should execute the STP analysis in the company to enhance the brand image and
the consumer base and through this they can satisfy the needs and wants of the users (Cierto
Asencios, 2018).
CONCLUSION
It is concluded from above report that in the organisation marketing plays a vital role in
order to spread the awareness of the products and offers this department is responsible for
growing the name of the company and expand the business in international market. It is
discussed in above report the principles of marketing in relation of M&S, and marketing theories
that assist the business in implementing effective strategy.
References:
Books and Journals
Bachu, N.P., 2021. Portuguese wine SME competitiveness-potential partners and marketing
recommendations for south Korea (Doctoral dissertation).
Cierto Asencios, E., 2018. Marketing mix y su relación con la calidad de servicio de la empresa
Cicdesi SAC distrito Ica, 2018.
Gunawardane, G., 2020. Health Care Marketing Mix: Planning Health Care Marketing Strategy
for Each Segment/Niche. World Scientific Book Chapters, pp.227-258.
Ho, P.Y., 2018. The Research of Customer Relationship Management System Business Model
and Strategies.
Jahnke, M., 2018. Influencer marketing. Wiesbaden: Springer Fachmedien Wiesbaden.
Juniardi, A., Haerani, S. and Munir, A.R., 2018. The Influence Of Marketing Mix Strategies To
Customer Satisfaction And Hotel Loyalty Novotel Novotel Grand Shayla City Center.
Hasanuddin Journal of Applied Business and Entrepreneurship, 1(4), pp.52-64.
Kuester, S., Konya-Baumbach, E. and Schuhmacher, M.C., 2018. Get the show on the road: Go-
to-market strategies for e-innovations of start-ups. Journal of Business Research, 83,
pp.65-81.
Othman, B.A., Harun, A.B. and Nazeer, S., 2018. Issues and challenges faced by Malaysian
umrah travel Agencies in providing excellent marketing mix services to umrah pilgrims.
The Journal of Social Sciences Research, pp.611-618.
Widjaja, A.O., and et., al., 2018. Digital Marketing Strategy to Increase PT Vinotindo
Grahasarana Sales to B2B Customers.
Zela, O., 2019. Komunikační mix stavební firmy: Communication Mix of Construction Company
(Doctoral dissertation, Brno University of Technology).
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