The Marketing of Marks & Spencer

            Marks & Spencer is a multinational retailer organization located in Westminster, London, United Kingdom. Marks & Spencer deals in selling home products, clothing, and food products. It was established in 1884 by Thomas Spencer and Michael Marks. The company started selling branded goods like Kellogg’s Corn Flakes in 2008. Marks & Spencer at the moment has 852 stores throughout the United Kingdom including many international stores in Turkey, India, Russia, Spain, Greece, Poland, France, Ireland, and Finland. They also have more than 200 suppliers. However, in the recent times, Marks & Spencer have been facing certain challenges specifically in managing their marketing operations. Marks & Spencer has been facing many challenges in managing their marketing operations. The external and competitive environment is responsible for making them face those challenges. Considering the external environment, M&S had developed an environmentally friendly strategy in 2007 to beat the environmental challenges, but still, there are huge threats as far as environmental factors are concerned. The two key challenges in managing the Spencer facing’s marketing operations are expensive products and lack of clear marketing strategies.

Expensive Products

One of the significant challenges for the organization is expensive products. The price is one of the significant parts of the marketing mix and plays a significant role in the development of the organization. The stores such as Tesco and Waitrose have food of pretty good quality at pretty genuine prices as compare to stores such as M&S food. I would like to say that their numerous stores have clothes of pretty good quality at the low prices as compare to the Marks & Spencer. I would like to describe some significant concept about the price of the products. Price is significant to the marketers for the reason that it represents the assessment of the marketers of the value consumers see in the service and product and are ready to pay for a service and product. It is clear that adjusting the price of the product has a profound effect on the marketing and the marketing strategies and depending on the product price elasticity; it will frequently impact the sales and demand as well. I would like to say that pricing donates to how consumers perceive a service or a product. The other marketing mix elements like as product, place, and promotion are possibly seen to be more beautiful than price. Therefore, it is necessary for the marketer of the Marks & Spencer give more attention to price.

Issues happen if the marketers of the Marks & Spencer fail to set a good price of the product those accompaniments the parts of the marketing mix and the goals of the organization. I would like to say that the success of any organization depends on the price. In the economic framework, the price is the contrivance for allocating the reflecting and resources of the degrees of the both competition and risk. In an economy specifically, the economy of the free market and the resources can be reallocated and allocated by the procedure of price increase and reduction. I would like to say that the price policy of the Marks & Spencer is a weapon to comprehend the objectives of the planned economy. It is clear that the price policy is the fundamental thing for exchange, distribution, consumption and production of any organization. The price power produces the outcomes in the market. The price plays a significant role in the United Kingdom for the reason that price is fundamental issues for the organization. In fact, non-price and indirect competitive methods frequently are more desirable for the reason that they are more complex for the competitors to copy.

I would like to say that if Marks & Spencer sell a good product, on the excellent place and promote them, on the other hand, did not set a rational price than they did not survive a long time for the reason that price plays a fundamental role in the improvement of the institution. It is clear that the stores such as Tesco and Waitrose have food of pretty good quality at pretty genuine prices as compare to stores such as M&S food. So, it is necessary for Marks & Spencer to reduce their price such as Tesco and Waitrose prices.

Lack of Clear Marketing Strategy

The Marks & Spencer does not have a successful or clear strategy, for instance, they should offer more sales and important to try to attract women and youngsters. It is clear that marketing strategies play a significant role in the development of the company. Therefore, the absence of clear and effective marketing strategies is not good for Marks & Spencer. It is clear that marketing strategy affects the company improvement. I would like to say that marketing strategy looks at all areas such as selling activities and supports everyone to help the next. Comprehending how to make a good marketing strategy is pretty significant for Marks & Spencer for the reason that it will help to the organization to make a better decision regarding particular marketing methods. It is clear that a marketing strategy supports to the organization to sell services and products with the chances for the making revenue. With the help of marketing strategies, the organization determines the advantages of consumers and the needs of the consumers. The marketing strategy plays a significant role in deterring optimal prices.

The marketing strategy will help the Marks & Spencer in setting right prices for their products based on the market research. I would like to say that the marketing strategy also plays a significant role in establishes successful distribution. It is clear that the marketing strategy also helpful for marketing communications. Marketing communications are an important thing for any organization, and the reorganization of marketing communications is easy due to marketing strategies. Marketing strategies help to the organization in developing financial goals. Monitoring expenditures is also a segment of the financial goals, but it is accessible with the help of the marketing strategies. So, it is necessary for Marks & Spencer to give much importance to marketing strategies for the reason that they do not have a successful or clear strategy, for instance, they should offer more sales and important to try to attract women and youngsters.

Analysis of the Current Marketing Activities

Marketing is an activity of human satisfying the wants and needs of the services and products. The marketing plan is significant for every company due to the competitive environment. Marks & Spencer give significance to the marketing activities. The plan of marketing activities for M&S would be a successful instance in the present situations. It is clear that just as the 13 billion dollars British retailer M&S department store is preparation to enter in the different countries place of the market such as Australian. I would like to say that the comprehending a good marketing plan is beneficial for the organization not only the management of the company. It is clear that in a complex marketplace the Marks & Spencer are growing every year and performing well with enormous profits and sales. It is clear that this is a good presentation to reinforce its point in the place of the market as a front runner retailer. I would like to say that the trust of the consumers is in the on-going procedure for a reason that of numerous ranges of the innovation and products.

The plan of the Marks & Spencer is effective and clear for development in the existing situation with the strong development. I would like to say that it is clear the positioning, target market, and market segmentation is pretty strong that can helpful and change the organization in a good direction. The strategy of the marketing mix of the Marks & Spencer would increase it in the business expansion in the other countries.

Situation Analysis

I would like to say that the situation analysis is fundamentally related to the collection of techniques to examine the environment that is internal and external of the Marks & Spencer. I would like to say that it supports to rise comprehending about the business environment, trades and capabilities of the company. I would like to mention about the internal situation analysis first and then external situation analysis. I would like to say that the Marks & Spencer is a market leader in clothing for the reason that its quality and range. It is clear that the leadership of the M&S in clothing is converted in the department stores leadership. The Marks & Spencer has a huge number of teams involving HR administration, learning, pensions, and payroll. Marks & Spencer is a top organization for liable business. M&S has been known as the top organization in the United Kingdom for liable business. Marks & Spencer give in-depth performance and training coaching to the workers for the improvement.

The external situation analysis of the Marks & Spencer may include economic, political, technological, social, legal and environmental issues. Marks & Spencer faces some significant situation for the reason that when changes in the environment of the politics because when the new government came into power, they bring different and new business policies. Socially, the perception of the customer has been changed in the direction of fashion that is new involving price understanding that is developing more competitive environment. I would like to say that technology plays a significant role in the marketing.

SWOT Analysis

Strengths

The fundamental strength of Marks & Spencer is the high quality. Consumers tend to find the high-quality products from Marks & Spencer including their goods of food, clothing, and other superior goods. Another major strength is their customer service. They provide better customer service. Their strengths also include the better shopping environment.

Weaknesses   

The weaknesses of Marks & Spencer firstly include the lack of segmentation in clothing. Ladies Outwear outmoded cut and design. Stock control is their other weakness. Many times the customers are told that the stock is out. Another problem for Marks & Spencer is that they have many store spaces.

Opportunities

The biggest opportunity for Marks & Spencer is internet technology. They can utilize the internet for marketing purposes and enhance its sales and revenue. The demand for food has been increasing, and healthy food offered by Marks & Spencer can provide them the opportunity to enhance sales of food products.

Threats

There are a few strong competitors to Marks & Spencer. The culture of some countries has been changing, and as a result, the customers prefer different tastes. Chemical pollution is a big threat to Marks & Spencer. This is a potential risk that will impact Marks & Spencer in future.     

Appropriateness of Segmentation, Positioning, and Targeting

The target market of the Marks & Spencer is particularly talking about the all individual collection of all age that adoration to clothes to look smart. I would like to say that M&S also production various kinds of the clothes for consumers’ opinion like as polyester, cotton, and others. It is clear that most of individual like to Bay costly goods. I would like to say that target market play a significant role in the development of the M&S. The market segmentation criteria of the M&S are based on the lifestyles related, manners, age, and gender-related of the marketplace for Marks & Spencer. It is clear that clothing is liked by both women and men where the clothing lines can involve business perspective and casual.

I would like to say that the communication theme of the M&S is based on the utilizing extensive social media. It is clear that the social media play a significant role in product marketing through word of mouth procedure. M&S is recognized one of the largest retailers’ organization in the United Kingdom in clothing sector that gives more opposition to another organization in the sector of clothing.  The fundamental competitive advantages are the M&S intense marketing, large economies of scales, and big brand. It is clear that the M&S maintain its business in the existing improvement of the markets trends, fashion, and online shopping, etc. The main competitors of the Marks & Spencer are in Burberry Group PLC and Arcadia Group Limited that has agreements South Korea, Indonesia, and China. The objective and aims of the M&S in agreeing section are to provide the excellent services through getting well individual in the stores that impact on the consumer by their personality.

Two key trends in marketing management

There are the two key trends in the marketing management. There are a few factors that are responsible for changing the marketing management trends. These factors include technology, globalization, buyer behavior, etc. First of all, with the impact of technology, the marketing trends have changed. The technology and innovation have revolutionized the marketing trends. The most significant trend in the market management in the modern days is the use of social media advertisement. Social media has been the key factor in marketing and advertisement. The business organizations have considered social media as the most fundamental way of marketing the products and services. Similarly, Marks & Spencer has started using the social media marketing for their marketing management.

Marks & Spenser use media marketing in several ways. First of all the media ads are sued by Marks & Spencer. They have made many ads to run on the media. They had targeted women in particular and made the ads capturing the women specifically and targeting the women. Throughout the United Kingdom and the other countries where Marks & Spencer has gained popularity, they are running the media ads on different TV channels. Other than that, the ads are also running on the print media. Specifically, on the newspapers and magazines, the ads of Marks & Spencer can be seen. This strategy has been the result of the change of trends in the marketing management due to the impact of technology.

Another significant trend is the social media. Marks & Spencer have established their social media team which is responsible for the marketing on social media. They have developed their accounts on Twitter, Facebook, and Instagram. These accounts publish their recent promotions and other information regarding products. The customers can access the significant information regarding their products on these social media websites. Also, the customers give their opinion of certain products and these results in enhancing the popularity of the products of Marks & Spencer.

The “hashtag” (#) promotion is another thing utilized by Marks & Spenser. Using the hashtag sign with the name of the product and the statement regarding the product they have become able to acquire the response of the customers and drive the sales. Hashtag presents the trend and promotion. For example, to promote a product they use the hashtag sign with the product on social media and the people give their feedback and opinion regarding the product. This gives the opportunity to advertise the product as well as to bring the changes according to the feedback of the customers. It also gives the opportunity to analyze the market direction and customer demands.

Marks & Spencer has been spending a lot on social media marketing. They tend to spend 20% of their budget on social media marketing. This is because it has been focusing on the storytelling and content to acquire more number of the consumers with a more targeted and personalized statement. The Executive Director of Marks & Spencer says that “These days, all sorts of communications begin with a fundamental idea getting articulated across all the customer touchpoints including the stores, mobiles, print media, social media, billboards and the television.”  He added that “Consumers would see even more of this storytelling in the following years as the marketing of Marks & Spencer becomes even more personalized.”.

The technology factor has also encouraged them to develop their website. In February 2015, Marks & Spencer launched their website. The formation of the website is not just driven by the impact of technology, but the buyer behavior has also emphasized the use of the website and online services. Many customers now prefer seeing the products online and sitting at home. The behavior of the customers has changed to a certain distant that they view the specific information regarding the products online and the website is the key in this regard. Marks & Spencer made their website and had acquired several benefits from it. Their website includes the necessary information about the company and the products they offer. All the information regarding the product can be accessed through the website. These marketing trends have been adopted by Marks & Spencer in a magnificent manner.

Another important factor in changing the marketing trends is buyer behavior. Realizing the behavior of the customers, Marks & Spencer have produced a strategy based on the consumer behavior. Their strategy includes the special promotion of the food and clothing products on special days. The promotions include discounts and offers on the special days like Christmas, Halloween, and Black Friday, etc. The special day promotions vary on certain countries according to the behavior of the customer and the culture of the nation. This is not just the impact of the consumer behavior but also the impact of globalization and the culture. This has also influenced the company to adapt the modern ways of marketing management.

Marks & Spencer are listening from and to their customers. Their food business keeps on beating the market. However, Rowe said that there was still more they could do. Client examines figured out that the customers need M&S to be "more in front of patterns," taking advantage of flavors and sustenance blends before a great many people think about them. On the food, they will play to their qualities and set the development plan while concentrating on the best quality and new ranges. M&S remains for helpful nourishments in advantageous areas," he said. As far as the clothing, M&S is "baffling clients," to some extent by giving them an excessive amount of decision. Clients say that they haven't achieved the style and design right – an excessive amount of decision is making us insignificant. They likewise tell Marks & Spencer they need them to improve. They take care of business on nourishment and clients need them to hit the nail on the head on attire. They will do it by keeping on tuning in," he said. Hence, Marks & Spencer have adapted to the modern trends in the marketing management. This has enabled them to drive more sales and increase the profit.