Marketing Plan for Marks & Spencer's New Sugar-Free Ice Cream

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Desklib provides past papers and solved assignments; this report analyzes Marks & Spencer's marketing strategies.
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Marketing Essential
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TABLE OF CONTENTS
Introduction................................................................................................................................3
Lo1.............................................................................................................................................4
P1 Explain the key roles and responsibilities of the marketing function...............................4
P2 Explain how roles and responsibilities of marketing relate to the wider organizational
context....................................................................................................................................5
M1 Analyse the roles and responsibilities of marketing in the context of the marketing
environment............................................................................................................................5
M2 Analyse the significance of interrelationships between marketing and other functional
units of the organisation.........................................................................................................6
D1 Critically analyse and evaluate the key elements of the marketing function and how
they interrelate with other functional units of an organization..............................................6
Lo2.............................................................................................................................................8
P3 Compare the ways in which different organizations apply the marketing mix to the
marketing planning process to achieve business objectives..................................................8
M3 Evaluate different tactics applied by organizations to demonstrate how business
objectives have been achieved...............................................................................................9
Lo3...........................................................................................................................................11
P4 Produce and evaluate a basic marketing plan for an organization..................................11
M4 Produce a detailed, coherent evidence based marketing plan for an organization........11
D2 Design a strategic marketing plan that tactically applies the use of the 7Ps to achieve
overall marketing objectives................................................................................................13
Conclusion................................................................................................................................15
References................................................................................................................................16
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Introduction
The concept of marketing is regarded to be most important for the firm as it is all about
enhancing the awareness level of the products in the competitive environment. In the modern
era, every market has become highly competitive and due to this reason, every firm has
started to focus on conducting the marketing practices efficiently (Stead and Hastings, 2018).
Different platforms of marketing are present such as social media, print advertising etc and
the main benefit is that they support in building strong relationship with the target market. In
short, with effective marketing practice it is very difficult for any firm to carry out its
operations in the market for the longer time period.
The present report focuses on choosing the leading retail organization of UK i.e. Marks and
Spencer (M&S). The retailer mainly focuses on dealing with providing range of several
products and services to the different targeted audiences. The report will mainly highlight the
importance of marketing with respect to the selected firm and the interrelationship of
marketing has been shown with the different departments.
Lo1
P1 Explain the key roles and responsibilities of the marketing function
In case of well-established organization like Marks and Spencer all the operations are carried
out by the firm on wider basis. One of the main roles of marketing function is market
information where different type of information is provided to the organization regarding the
market and through this the business practices are carried out efficiently (Weinstein and
Pohlman, 2015). Without obtaining proper market information it is very difficult for the
company like Marks and Spencer to carry out overall operations efficiently.
Figure 1: Marketing
(Source: Proschool, 2019)
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Second main key role of marketing function is standardization and grading where proper
standards are set and in turn the product becomes unique in comparison with the competitors
in the market. Generally, when high grading is done in case of the product then it reflects the
type of experience it can provide to the target market in the best effective manner (Miquel-
Romero et al. 2014).
Another main responsibility of the marketing function is product design and development
where different products are designed by M&S as per the expectations of the customers and
this in turn brings favourable results for the company. In case if the product design is not up
to the mark then customers cannot be influenced to purchase the same. Main role of the
marketing function is product distribution where right marketing practices helps a lot in
distributing the products of the firm in a proper manner (Martín-de Castro, 2015). Customer
support is also regarded critical role of the marketing function where the marketing related
activities of M&S supports in providing proper support to the customers and this is highly
effective for the business also. The marketing function of an organization also plays a
significant role in providing competitive edge over other companies in the industry.
P2 Explain how roles and responsibilities of marketing relate to the wider organizational
context
It has been identified that there are certain responsibilities of marketing that positively assist
in promoting the range of products/services. One of the key roles is market awareness and
providing proper knowledge to the customers as per the products and services. With respect
to organizational context the company like M&S believes in providing different type of
information to its target market like those of products etc (Malhotra and Peterson, 2014).
Therefore, in this case the role of marketing is crucial where the company is able to share
right information with the target market and this helps a ration in mesmerizing the customers
in the direction of the products of the firm in the marketplace.
Another main role with respect to wider organizational context is product development and
designing where every product is offered by the firm keeping in view the requirement of the
target market and with the assistance of marketing it becomes quite easy to know what type
of product customers prefer to purchase (Di Benedetto and Lindgreen, 2018). Hence, this is
also another main role of marketing in relation with wide organizational context.
Customer engagement is considered to be the main responsibility of marketing in relation
with M&S where with the presence of effective marketing practice it becomes quite easy for
the firm to engage its customers in the business practices. In case if the level of engagement
is not up to the market then it can bring unfavourable results for the firm in the market. The
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main role of marketing for selected organization is to create the demand of its offerings in
people within target market (Datta et al. 2017). No doubt the market is highly competitive
and in this case the role of marketing is to share right information with the target market
regarding the services and products so that practices of the organization can be carried out
easily.
M1 Analyse the roles and responsibilities of marketing in the context of the marketing
environment
It has been found that role of marketing is very crucial. Further, one of the main roles is that
it helps in highlighting the unique attributes of the things provided by M&S in various
locations and in turn it can be easily known how the products of the company are different
from those of competitors in the market (Chernev, 2018). Through this the customers of the
company are easily encouraged to purchase the products of the firm in the market and this
brings favourable results also for the business. Product positioning is another responsibility of
marketing function that clearly assist the marketer in positioning the range of quality products
so that it may easily build mindset of the customers that results in purchasing the quality of
products. Without marketing practice, it is very difficult to highlight the unique attributes of
the products in front of the customers of the business (Baker and Saren, 2016). Effective
selling is another main task of the function associated with the marketing where proper is
sold in a proper manner like with the assistance of online and offline methods so as to
provide proper convenience to the target market.
M2 Analyse the significance of interrelationships between marketing and other functional
units of the organisation
Marketing as one of the functions is directly connected and related with other aspects and
functions of a business enterprise. The company like Marks and Spencer conducts all the
business tasks on wider basis and in this case different functions units are present such as
human resource, finance, operational etc. Marketing has direct link with HR function where
different individuals are appointed so that marketing practices of the firm can be conducted
easily (Bahadir et al. 2015). In case, if proper coordination is not at all present in between
marketing and HR department then business efficiency can be affected. It is the responsibility
of the management to make sure that adequate bond and coordination is developed among
different functions and departments. Regular meetings can be conducted to develop proper
coordination and to attain the expected outcomes.
Marketing has linked with finance department where different funds are required for
conducting the marketing practices such as for conducting sales tasks etc. In case if proper
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funds are not at all provided by the finance department then it will be difficult to conduct the
marketing practices efficiently (Grönroos, 2014). Proper funds are needed for promotion and
other form of activities that are very crucial for the cited firm as it enhances their brand image
in the competitive environment. Therefore, it has been assessed that marketing function have
interrelationship between with other different functional units of the company.
D1 Critically analyse and evaluate the key elements of the marketing function and how they
interrelate with other functional units of an organization
As per view of Charter and Polonsky (2017) various elements of the marketing function are
present and they have relation with the other functional units. One of the main elements is
product where it has been found that for designing product finance is needed and this is the
main reason due to which this element is linked with finance as one of the units of M&S. In
case when proper funds are not at all present then right kind of product or service cannot be
delivered to the target market. However, argued that Kennedy (2016) pricing is also
considered to be the main element of the marketing function where prices of the services of
the products are set as per the customer requirement. This element has link with human
resource as one of the units of M&S where marketing executive and sales representative
plays crucial role in setting the price of the products so that customers easily engage in
purchasing the products accordant with the requirement. Marketing has direct
interrelationship with finance and human resource as the other functions of the business and
this relationship is very crucial (Arora et al. 2016). Along with promotion is also main
element of marketing function where human resource as of the function conducts different
promotional practices for improving the actual awareness level in the environment.
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Lo2
P3 Compare the ways in which different organizations apply the marketing mix to the
marketing planning process to achieve business objectives
The different marketing mix elements are crucial for every organization operating in the
market and its proper applicability directly supports a lot in accomplishing the key goals of
the business. The comparison of marketing mix elements of M&S and Tesco has been done
below:
Figure 2: Marketing Mix Elements
Element Marks and Spencer Tesco
Product The product portfolio of the
firm is segregated into
different type such as men,
kids, beauty, home etc
(Cohen, 2013).
There are range of variety of
products available for its
target market such as
electronic, financial services,
clothing, food etc
Price The value of M&S products
must be set in the level of
medium to high range and
the firm mainly caters to
upper and middle class in
the overall market.
At present the brand uses
low prices of its products
without compromising the
real quality of the different
items that are offered to the
target market
Product Price
Place Promotion
Marketing
Mix Elements
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Place All the products are offered
with the help of company
operated outlets and this
provides satisfaction to the
target market (Chaffey and
Smith, 2017).
Both online and offline
channels are adopted for
offering products to the
target market. Six different
stores are present such as
Tesco extra, Metro, Home
plus, Tesco Express etc.
Hence these are some of the
store formats
Promotion Different promotional
practices are carried out by
the firm that involves print,
digital and visual medium.
With the help of outlets also
products are promoted
Advertising practices are
undertaken from the point
view of promotion. Along
with this the Clubcard
scheme is quite effective in
terms of promotion and all
the advertisements of the
firm focuses on its low
prices (Davids and
Newcomb, 2015).
Above table is based on M&S and Tesco and the elements of marketing mix employed by
these businesses. It is indicating that both the firms have managed the elements in a proper
manner that provides competitive advantage to the firm in every possible manner.
M3 Evaluate different tactics applied by organizations to demonstrate how business
objectives have been achieved
In order to demonstrate achievement of the M&S business goals and objectives, it has been
assessed that marketing manager of cited retail firm is required to undertake different
business tactics. With the application of all the tactics it ensures that cited retailer chain has
easily accomplished its marketing objectives (Changchien and Lin, 2013). The primary tactic
that is used by the cited firm is associated with undertaking effective marketing mix
elements. With the implementation of these elements, it will support the cited firm in
determining the actual need and requirement of customers and accordant to which they will
provide the services/products to the customers (Stead and Hastings, 2018). It has been
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evaluated that application of this tactics results in accomplishing the objective associated with
satisfying its customers and enhance customers base.
On the other hand, another tactic applied by cited organization to demonstrate achievement of
objective is associated with reviewing the formulated marketing plan. It has been determined
that revising marketing plan assists the marketing manager in modifying their practices so
that it results in accomplishing the goals in effective manner.
Lo3
P4 Produce and evaluate a basic marketing plan for an organization
In order to grab the significant position in the retail segment of UK it has been assessed that
leading clothing retailer Marks & Spencer focuses on producing basic marketing plan for
introducing their new range of sugar free ice-cream. The marketing plan has been arranged
by the manager for enhancing the overall performance in the competitive marketplace.
However, M&S specialises in the launching their own brand organic and healthier food for
the customers (Weinstein and Pohlman, 2015). Therefore, sugar free ice-creams will attract
healthier individuals towards the commodities. Through which business will additionally be
capable towards gaining the competitive advantage among its rivalries.
M4 Produce a detailed, coherent evidence-based marketing plan for an organization
From the above evaluation of basic marketing plan of Marks & Spencer it has been stated that
for introducing new range of healthier ice-cream marketing manager has focused on
producing a marketing with undertaking different practices such as-
Current situation analysis
SWOT Analysis
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Figure 3: SWOT Analysis
Strengths
One of the most powerful retail brands
having its presence in the clothing market
and grocery market
Products are perceived as value for money
due to its high quality
Own branded labels
Weaknesses
Strong competition from the giant retailers
that results in capturing limited market share
Imitation of the products is easy
Opportunities
Marks & Spencer has opportunity advanced
their website
Introduce products to new market segments
that offer more profit
Expanding brand into emerging nations
such as China, India etc.
Threats
Entrance of discounted retailers
Changing governmental norms and
regulations at the time of global expansion
that act as threat for firm
Vision and objectives
Vision- The vision of M&S is towards focusing on delivering great value for money by
providing required products at the affordable prices.
Objective- To regain the position and leadership in the clothing and specialty food market by
offering quality of products/services
Strengths Weaknesses
Opportunities Threats
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Marketing objectives-
To introduce new range of healthier ice-creams
To target the customers that incline towards purchasing the healthier products.
Target market
The cited firm i.e. M&S will focus on targeting the customers on the basis of behavioural
segmentation (Miquel-Romero et al. 2014). They will target the customers that have
inclination and behavioural patterns towards consuming the healthier and sugar free products
that might not impact their overall health aspects.
Marketing strategy and tactics
After selecting the target market, marketing manager focus on modern marketing platforms
i.e. social media marketing and digital marketing will be used for the same. Both the tactics
will result in attracting mass of traffic towards the new product (Martín-de Castro, 2015).
Financial plan
Activities Amount
Newspaper and other publishing platforms 60£
Platforms linked with social media (Facebook, Instagram etc) 100£
Company website formulation 150£
Total 310£
Implementation and control
The manager requires implementing the devised activities in proper manner so that they can
easily introduce new range of healthier ice-creams. With the implementation of activities, the
manager of M&S will engage in controlling practices so that deviation or gap in the
marketing plan can be easily overcome.
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D2 Design a strategic marketing plan that tactically applies the use of the 7Ps to achieve
overall marketing objectives
Figure 4: Extended-Marketing mix elements
Product- Product is the main element of marketing mix and therefore, manager needs
to focus a lot on quality of the same (Malhotra and Peterson, 2014). The cited brand
will focus on offering the new range of healthier and sugar free ice-cream to the
audiences that tend towards consuming the healthier and organic products. Thus,
developing the new product range will also permit the cited retailer in increasing their
customer base in the UK region.
Price- Price for the new product cited firm will mainly charge high price as the
product quality will be very high and value for the money.
Place- For delivering the new products to UK customers and audience M&S will use
their authorized stores as majorly audiences prefer to purchase products by visiting
the stores (Di Benedetto and Lindgreen, 2018).
Promotion- Social media platforms as well as print media will be great options for
cited firm to advertise and promote their new and healthier ice-cream products.
Selection of this strategy will significantly assist in driving mass of audiences towards
their new product range.
Physical evidence- The logo and the pleasant ambience of their stores that give high
experience to customers and allow them to purchase their products/services. The
elements also reflect the key commodities delivered to the target market.
Marketing
mix
elements
Product
Price
Place
Promotion
Physical
evidence
Process
People
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