Marketing Plan Project: M&S Smart Jacket Launch Strategy

This marketing plan project analyzes the marketing strategies of Marks and Spencer (M&S) for the launch of their new product, the Smart Jacket, which incorporates an inbuilt heating system. The project begins with an executive summary and introduction to marketing plans, followed by a detailed market analysis of M&S, including its strengths, weaknesses, and competitive landscape, particularly focusing on Primark. The report delves into the business proposition, outlining long-term and short-term goals, target markets, and strategic statements for the Smart Jacket. It also addresses key planning assumptions. The action plan section details the marketing mix elements, specifically focusing on the product's features and benefits, pricing strategies, distribution channels, and promotional activities. This includes an analysis of the Smart Jacket's unique selling points and how M&S plans to position it in the market. The project concludes with an evaluation of the marketing plan and recommendations for future improvements.

Marketing Plan Project

EXECUTIVE SUMMARY
This report has been prepared to analyse the marketing situations of Marks and Spencer.
This report has provided a brief view about the development of strategies which contributes
towards the growth and sustainability of the firm. It has been also discussed that that introduction
of the new product in the company leads towards the increased sales of the company thus
maximises the profits of M&S. It has also mentioned various marketing mix elements that
mainly supports the overall growth and sustainability of the firm. Promotion of the new product
designed in the industry and analysing various impacts of marketing that attracts large number of
customer towards the newly developed product named as smart jacker. In this project, M&S have
introduced a new product that includes inbuilt heater facility within the clothes.

Table of Contents
INTRODUCTION...........................................................................................................................1
Analysis of the Market.................................................................................................................1
Business Preposition....................................................................................................................3
Action Plan...................................................................................................................................5
Evaluation....................................................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES .............................................................................................................................10

INTRODUCTION
A Marketing Plan is termed as a comprehensive document that derives the advertising
and marketing efforts of an organisation. Marketing Plan mainly contributes towards the
achievement of specific marketing objectives within a stated time duration. The study is based on
the marketing strategy of Marks and Spenser who deals with the large variety of products such as
fashion clothings, footwear, eatables and many more products.
The report will help in describing the Marketing plan of the company when the managers
are planning to launch a new product. This study will introduce the readers towards the
development of a new product in this firm that is “ Smart Jacket”. This research will create a
complete understanding about comprehensive marketing plan which helps in providing
techniques that supports the company in maximising the sales as well as profits of the firm. The
document will clearly describe the Action Plan of the company and marketing mix elements
which effects the growth and development of Organisation.
Analysis of the Market
Description of Firm
Marks and Spenser is a major British Multinational company which has large number of
retail stores in most of the countries. M&S was initially founded in 1884 by Michael Marks and
Thomas Spencer. The company has begin its business by initially selling its branded goods like
Kellogg's Corn Flakes in November 2008. Marks and Spencer then gradually increased its sales
by producing more variety of products and goods and services of M&S becomes rapidly popular
among people of young age group. In 1998, company becomes the first British Retail to make
the pre tax profits of £1 billion (Ahmed, 2016). In recent years Company have increased its
production and manufacturing capacity and started dealing with fashioned clothings and food
products.
Currently, the company is planning to establish a new product within the organisation in
order to hold interests of the people towards M&S products. The main purpose to attempt an
innovational risk by introducing a new product in the organisation is to hold the interests of the
people in the market. The company always try to bring innovative and new concept for the
customers which helps in increased growth and sustainability of the firm. This organisation have
achieved a very good business position and increasing the number of outlets in the firm proves
the increasing profitability of the organisation in market.
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Strengths and weakness of product or firm
M&S is a UK based organization which provides different variety of products and has
many outlets. Strength and weakness of marks and Spencer are:
Strengths:
 High recognition of the brand: it is one of the biggest brand of UK known be everyone
especially for its quality.
 Wide range of products: It provides wide range of products in every store helping
customers to choose the best from available one (Carpenter and Dharmasena, 2016). It
sells variety of products in various range like it sells food items, cloths, home accessories
etc. Easy availability: It's products are easily available to their customers as it has more than
600 stores in UK and above 300 in more than 40 countries.
 It also provides popular designer brands to customers which helps the organization a lot
and strengthen the business.
Weaknesses: It has gained a bad publicity of a non trending store which sells out dates fashionable
items. Even though it sells wide range of products it is considered as a brand for old aged
group people. It focusses on manual working which increases its cost in many ways. They do not use
new latest technology to save money in fact uses the older traditional technology for
running.
Competitor's strength and weaknesses
Primark is one of the strongest competitor of M&S who mainly deals with the large
variety of goods and services. This company initially started with the production of food material
and then has increased its production by establishing fashioned products (Chernev, 2015).
Primark is one of the largest Clothing Retailers in Uk which gives a tough competition to Marks
and Spencer.
Strengths
One of the greatest strength of the company is, this organisation employs almost 50,000
permanent employees within the firm. All the employees are technically skilled and loyal to this
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organisation. Primark also have an extensive range of apparels such as men wear, women wear,
children wear etc. One more strength includes constant achievement of increasing profitability.
Weakness
Due to the slow economic growth of the EU, it held back overall profits for the group.
Outsourcing is one of the greatest weakness as manufacturing of the apparels may leads to
decreased quality of product. Thus it leads to lower customer satisfaction.
Sales trend and Forecasts
Direct and Online marketing trend has brought technological changes in the sales policy
and increased purchasing trend of the society (Desai, and et.al., 2018). M&S have currently
adopted online presence in the social media that includes twitter, Facebook and YouTube in
order to approach direct online marketing approach. Also, Marks and Spencer have also found
various various negative reviews of the customers. In response to this, M&S have decided to
refund, upgrade or exchange a disgruntled customers. Increased customer satisfaction have
resulted in more sales of the company. As 92% of the customers are more likely to purchase
from M&S as refunding strategy have developed trust and faith among the loyal customers.
Furthermore, M&S always try to provide innovative and on-demand products to
customers that have contributed towards the increased sales and hence increased profitability of
the firm. Managers of the company concentrates towards advanced prediction in identifying the
needs of the people. This company forecasts advanced and innovative concept to serve the
society with new products.
Business Preposition
A) Long term and short term goals
For building a business preposition, it is important to identify measurable long and short
term objectives which are attainable. Long term business objective of marks and Spencer is to
introduce the new product i.e. 'Smart jacket with built-in-heater' within 6 months period to
double business revenue by the end of the Fiscal year. To achieve the long term objective short
term objectives are important to be identified. Short term objectives will be:
 To double the revenue Marks and Spencer will need to identify, analyse and capitalize
customers buying trend (Domegan and et.al., 2016). New advertising campaign can be
designed to highlight unique features of smart jacket to attract the customers.
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 Revenue can also be doubled by focusing on increasing the customer base by focusing on
customers' requirement, redesigning customer service.
 Another short term goal for Marks and Spencer will to grow their social media presence
by posting information about the new product, its unique features. I can also be done by
organizing different promotional events for their customers (Yee and et.al, 2018).
B) Target market
Target market is one of the main part of business proposition. Identifying main customers
for the new product is very important. Before identifying target customers for the new product,
its features and benefits should be identified like these smart jackets' cam provide warmth to the
individuals and saves them from the extreme cold weather. So, therefore target market for the
new product of marks and Spencer will be all the old aged people who feel extraordinary cold.
The target market will be all the customers of United kingdom who will be requiring that jacket
especially by old aged customers in winters and for youngster who travel a lot.
C) Strategy statement
Strategy statement is important to identify an outline of their actions that are needed to
meed the goal. It acts as a guide to business in order to complete all the tasks and increase the
profit, customer segment and for growth (Lang, 2015). To make a strategic statement to show
what the product is proposing following things should be identified and highlighted, such as:
 Functions of the jacket like it saves the person from extreme cold weather and provide
warmth with the help of its built in heater. This will help in meeting business goal i.e. to
serve the customers (Desai and et.al, 2018).
 Features of the jacket is that it is a jacket with modern looks, light-weight and is way
cheaper than other companies jackets. This will help in meeting both short and long term
objectives.
 At last a blueprint is made which identifies ways to accomplish the objectives.
After considering all the three points an effective strategic statement should be which provides a
clear description of the business objective. So M&S strategy statement will be to provide an
innovative jacket to provide warmth in extremely cold weather in an affordable price.
D) key planning assumption
Key planning assumptions in business are developing strategy, planning and making
decisions. These are generally standardized as disclosure of risks and uncertainty (Male, 2017).
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There are many assumptions that are needed to be considered for some unexpected outcomes
like:
 Reveal sufficient capital investment for the new product launch so that an estimate can be
made and after making profit initial investment cost of the product can be obtained back.
 Plan the marketing of product by focusing on about 5 times of the customer segment than
required so that of even half of the customers turn towards the competitors products then
also company will have a larger customer base and they will not suffer any loss.
 Price of the product should be decided in such a way that it doesn't suffer loss but make
profit and still it would be according to the competitors price (Key planning assumptions.
2019).
Action Plan
An effective Action Plan will help in growth and development of Marks and Spenser and
thus it will helps in creating satisfied customers. Action plan includes various Marketing Mix
elements that will derive effective planning for improving the performance of the business. This
action Plan helps in making Marketing strategy of the newly invented project named as “Smart
jacket”. This is one of the latest concept that contains a unique feature during its production. It is
based on the technological concept of inbuilt heater inside the jacket which will provide heat to
the body of the people during withers. These actions helps in measuring, accounting and
identifying the objectives to improve the performance of the business. Various marketing mix
elements that supports the development and sustainability of M&S are as follows:
Product
Marks and Spencer have always fulfilled the main requirements of the customers so this
time the organisation have planned to introduce a new product. The managers of the company
have produced 'Smart Jackets' which facilitates inbuilt heaters for the customers of UK. This type
of production from M&S company have given a tough competition to various IT as well as
fashion industries (Molthan-Hill, 2017). One of the most important feature includes adjusted
heating according to the outer temperature of the climate.
Smart jacket contains inbuilt heater system within jackets which keeps consumers heater
during the heavy winters. As the main purpose of Smart Jacket is to heat the human body so
inbuilt system is developed with lot of technological equipments so most of the people assumes
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that these are non washable jackets. However, company has created a waterproof jackets that can
be even washed without any failure of Heating features.
Price
M&S generally follows competitive marketing strategies in its marketing mix for its
product portfolio. As this brand provides fashionable clothing for women, men and kids, so
Smart Jackets are designed with the perception to keep all the type of body heated in the winter
climatic conditions. People of Uk faces extreme low degree temperature during winters so, M&S
has offered such jackets in affordable prices that may be compared to the room heaters. These
Smart Jackets are costs at $100. This company also offers a discounted products during off-
season. Low prices of Smart jacket helps in attracting large number of customers towards the
new product of company but too low prices might be considered as a inferior to the competition.
Place
Marks and Spencer is planing for multi-Chanel approach in its distribution strategy.
Generally this company sold the products in more then 766 stores across Uk. As the people of
the generally face very low temperature during winters so the managers of the company have
considered a several web sites to sale the products and services so that it helps in identifying the
proper interests of the people towards such product (Oh and et.al, 2016). Initially M&S have
planned to sale Smart jackets with online orders. In order to attract more young customers, New
technological stores are also could be opened under new Sub-fascia. This increase the response
of individualism in society.
Promotion
This is one of the important element which deals with the advertising of the products and
services which are newly developed. M&S have provides more efforts towards the advertising
and branding of the products and services. The refreshed campaign for the Smart jackets in
autumn and winter for all the age group has lead to the great impact on sales of company.
However, M&S need to focus towards weight of smart jackets which are heavier as compared to
other winter wears due to the inbuilt heater.
In addition to this, company also need to sponsor various celebrities to promote in order
to promote this technological concept of smart jackets. Introduction of the new product will
helps in development and growth of the organisation since the M&S has lost the interests of
consumer and control over the market from 2012.
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Physical evidence
M&S is trying to accomplish the competitive advantage with its plan A in the form of
providing the comfortable and fashioned jackets which contains inbuilt heaters. Managers have
focused more towards the appearance of this jackets as people nowadays people are more
conscious towards physical appearance. It not only provides heat to the body but also looks very
nice as it contains leather from outside and furry material from inside. For the development of
smart jacket wool blend fabric is used mostly to provide warmth to the body. this is attached
inside the interior linings of the canvas to support inbuilt heaters from damage.
People
M&S has got more then 1000 Stores in more then 50 countries of the world. So total
strength of the organisation is around 83000 employees that most of the time remains constant in
various situations. The brand mainly focuses towards the satisfied and and motivated employees
who contributes the major part towards the development of the organisation (Rivera, 2017). This
company follows competitive policy in order to retain their employees.
M&S also provides rewards and recognitions to boost the performance and efficiency of
their workers. The company mainly believes in increasing the skills and knowledge of the
employees who made the it possible to produce Smart jackets with inbuilt heaters. The
employees are also engaged towards new technology techniques and the company offers flexible
and healthy working environment to its workforce.
Process
The stores of M&S are properly organised as compared to other stores like pantaloons,
wills, lifestyle etc. These stores are divided into sub floors which contains different section at
different floor. All the technological equipments are organises at the top floor while all the
fashioned clothing is available at ground floor. This Smart jackets are kept with the fashioned
clothes and this jacket is displayed along with the printed paper that represents its uses in a
diagrammatic way to attract customers.
Evaluation
A) Achievements
Achievements related to the long and short goals with the help of key performance
indicator. KPI is a type of performance measurement. It evaluates the success of an organization
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or an activity in which it is engaged. There are various types of Key performance indicators that
can be used for measuring the achievements related to the new product launch such as:
 Cash Flow shows that total money generated by the new product “Smart jacket” . It
shows that whether the Marks and Spencer is maintaining a positive cash flow required
for the growth of the company or it needs an external finance to cope up with all the
expenses.
 Net profit margin shows effectiveness of Marks and Spencer at generating profit as
compared to its revenue for the smart jacket (Sullivan, 2018).
 Sales growth shows the change in total sales generate over a certain period. It shows the
percentage of current sales period compared to the previous one. For sales growth a
initial growth plan must be build.
B) Contingency plan
It is a plan that is designed for outcomes other than the usual i.e. a plan which is executed
if the new product is not successful (Yee, and et.al., 2018). There are many reasons for a product
failure like outdated information, ambiguous Content, untested procedures, incomplete
strategies, lack of availability, limited input etc. and if due to any of these reasons new product is
unsuccessful then a contingency plan is executed and for this all the factors due to which the
project failed is identified and improved. To plan and execute a Contingency plan, four
parameters should be considered such as:
 Business Impact Analysis: it is the analysis of the all the quantitative and qualitative risk
on business processes. In this all the processes are focussed because of which the product
failed and need improvement.
 Communication plan: it is also one of the most important part because of which a
product can fail as sometimes because of poor communication information or data is not
communicated. So it should also be improved.
 Disaster recovery plan: it is a complete interpretation of missions critical business plan.
CONCLUSION
From the above study, it can be concluded the Marketing plan supports the profitability
of the M&S by advertising the benefits of new product. Advertisement and effective marketing
strategies has maximised the sales of the company and also people are taking a huge interest in
Smart jackets produced by M&S. It has also been concluded that analysing the market position
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and strengths of competitor companies has helped the company in identifying customer's
requirements. The study has also created a clear understanding about the current position of the
company and various strategies which has helped the company in accomplishing main goal.
The report has also helped in creating an action Plan for the organisation that helps in
creating loyal and satisfied customers. It can also be concluded that introduction of the new
project holds the interest of the customers and also helps in achieving the long time sustainability
of the firm.
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REFERENCES
Books and journals
Ahmed, U., 2016. Marks & Spencer: A Global Expansion to Acquire Lost Momentum?.
In Market Entry in China (pp. 61-72). Springer, Cham.
Carpenter, A. and Dharmasena, S., 2016, February. Effects Of Social Media Marketing On
Small-Scale Horse Farms In The United States. In 2016 Annual Meeting, February 6-9,
2016, San Antonio, Texas (No. 229860). Southern Agricultural Economics Association.
Chernev, A., 2015. The marketing plan handbook. Cerebellum Press.
Desai, N.R., and et.al., 2018. Value-Based Proposition for a Dedicated Interventional
Pulmonology Suite: An Adaptable Business Model. Chest. 154(3). pp.699-708.
Domegan, C. and et.al., 2016. Systems-thinking social marketing: conceptual extensions and
empirical investigations. Journal of Marketing Management. 32(11-12). pp.1123-1144.
Lang, A., 2015. A consumer research project as the basis for the development of a marketing
plan for a new spirit brand producing gin in Germany (Doctoral dissertation).
Male, C., 2017. Using relevant resources propose a project offering a development marketing
strategy for the events brand ‘Blueprint’.
Molthan-Hill, P., 2017. Sustainable marketing Helen Goworek Introduction. In The Business
Student's Guide to Sustainable Management (pp. 182-209). Routledge.
Oh, S. and et.al, 2016. Development Direction Research Of Korean Lifestyle Brands Through
Analysis For Global Lifestyle Brands-Focused On The Trend Analysis. The
International Business & Economics Research Journal (Online), 15(2), p.41.
Rivera, J., 2017. Marketing Principles.
Sullivan, J., 2018. Conflict Resolution via Contingency Plan Execution or Human Interaction.
U.S. Patent Application 15/361,044.
Yee, R.W., and et.al., 2018. Collaboration reasoning or social heuristics? Value proposition
validity in omnium-gatherum business models. Journal of Business Research. 88.
pp.550-559.
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Online
Key planning assumptions. 2019. [Online]. Available through: <
https://www.entrepreneur.com/article/304199>
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