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2635Downloads1 I Published: 25 May ,2020
In recent time, digital marketing and communication continuously develop day to day because it make several changes in business and consider more profitability to make effective results (Karjaluoto, Mustonen and Ulkuniemi, 2015). It helps to communicate very quickly and take decisions as soon as possible. In this context, present report based on the Marks and Spencer who is retaining sector business considers several operations in supermarket consideration. They provide their products and services through online and offline way to make effective results. In order to gain more profits and revenue, present report focuses objectives, situational analysis and target market of the chosen business. Furthermore, it focuses on the segmentation, market mix strategy to develop creativity at workplace.
Marks and Spencer is retail industry of the UK market. They consider and develop regular innovations and creativity in the operations and functions. In order to deals with the different activities, they focus on the creativity and effectiveness. Furthermore, deals in the perfect competition with Tesco, Sainsbury, Asda, Morrison, etc. This is because; there are several sellers and customers so that substitute products are also available in the company. It is deviated from advertisement campaign for its brand name (Armstrong, Kotler and Brennan, 2015). Hence, it is selling same products as the other competitors providing. It relies strongly on the brand awareness to attract many customers in the business enterprise. Moreover, the company also providing training and development program to attract many customers in the enterprise. As results, it will assist to look upon the innovations in the business (Paul, Bhuimali and Bhowmick, 2018). In addition to this, following are certain objectives which considered by the chosen enterprise:
In order to consider situational analysis, there are several elements included which signifies with different elements such as competitor analysis, market analysis, environment analysis, etc. Marks and Spencer deals in the UK leading retailer organisation so that they are dealing with the 21 million customers daily (Urban, Gosline and Lee, 2017).
Marks and Spencer specially target to UK market. In the market, there are around 95% customers target in different group. According to similar needs of the products mainly customers are targeted. It assists to identify need to display it with proper responses in the marketing actions. Main aim of the chosen business with deals in segmentation is consider differentiation. There are four kinds of segmentation exist in the market such as demographic, psychographic, geographic and behavioural. From the above, the chosen company adopt all strategies to target their customers (Paul, Bhuimali and Bhowmick, 2018). With this consideration, following discussion could be implemented in the enterprise:
Demographic: In the clothing consideration, the company able to develop their segment according to age. Mainly they are target around 20 years of age of group of people. Teenage girls are also looking for creative and unique dresses so that Marks and Spencer providing it to them.
Psychographic: Social class and personalities are same with different lifestyles. Therefore, buying behaviour of customers has been known with transaction that provides better products to target people (Armstrong, Kotler and Brennan, 2015).
Geographic: In addition to this, geographical segment considered with the different lifestyles. In this way, around 337 stores in 41 nations. Therefore, approach is considered to make easy shopping for customers (Urban, Gosline and Lee, 2017).
Behavioural: Premium customers of the chosen business regularly operating functions and operations from the Marks and Spencer. Therefore, the company considered premium pricing on their products and services to attract them.
In order to create positioning of the chosen business, the company develop their functions and operations with high premium brand. In this aspect, price has been set with the approach to increase creativity at workplace. It helps to penetrate customers mind so that they are attractd towards Marks and Spencer.
Marks and Spencer consist brand and develop their strategy to operate systematic functions in the different areas of the world. In addition to his, they adopted different strategy through they are able to cope up and attain more profits (Chaffey and Ellis-Chadwick, 2016).. In respect to consider marketing mix strategy in Marks and Spencer, following elements are included in the business:
Product: Marks and Spencer is the popular brand chain in UK. Portfolio of product in the marketing mix consider with different items that are classified for men, women, kids, etc. In this context, the company produce more with different kinds of products such as cashmere, jeans, linen, cardigans, etc. Furthermore, in footwear section the company develop their functions with boots, sandals, loafers, etc. They consider branding in each product so that standard could be maintained in effective aspect. With the help of producing more, the company can develop their outcomes and results. For men, women and kids, they considered different brand so that they offers effective results in the business. Along with this, the company also making sure that they concentrate on the home ware such as bedroom, living room, and other decorations as well. In national and international market, the company considered their operations to consider effective results (Chaffey and Ellis-Chadwick, 2016).
Price: Furthermore, pricing is another element that implements to focus on the relevant outcomes and results at workplace. In this consideration, the company set competitive pricing strategy for their products and services. This is because, with develop competitive pricing strategy the company can attract customers from other competitors. They provide more options to the customers to develop their effectiveness in the market. It assists to increase competition of the market and focus on the creative results as well (Paul, Bhuimali and Bhowmick, 2018). Along with this, the company also focuses on the dynamic pricing strategy in seasonal time which helps to offers more discount on products to get more customers. In this way, the company providing their stock products at fewer prices as compare to newly stocked.
Place: Marks and Spencer is international brand that considered more than 1000 stores those operating in more than 50 nations. Majorly, the company operates functions and operations in UK with 850 stores. In addition to this, they are also developing activities in Turkey, France, Ireland, etc. They sold their products and services at online and offline both types of activities so that it is easily attracting different customers in the business environment. Although, they provide option of international delivery of limited products so that on the basis of local currency providing which purchase could be through online (Urban, Gosline and Lee, 2017).
Promotion: Promotional activities considered marketing strategy which is carefully design and ascertained to align the advertisement activities. In this regard, digital marketing and store strategy implemented to cope up with the innovative results. Marks and Spencer consider and emphasis on the common message with different medium of communication. The chosen business used different kinds of strategies through them can easily attract several customers. For instance, print media, television, social media, mobile apps, etc. (Armstrong, Kotler and Brennan, 2015). On the own website of the business, the company also able to create blogs through special discount could be implemented to attract more people. On the basis of loyalty program, they are also look upon the shopping investment. It creates positive impact to produce effective results in the business environment (Urban, Gosline and Lee, 2017).
People: As it depicts that Marks and Spencer have more than 1000 stores in all over the market with 50 nations. Therefore, their employee’s strength continuously grows which are recently 83000. Further, the organisation pays more attention on employees to attain overall growth and profits as well. In this consideration, special discount has been created by M&S so that it considered pension benefits, life insurance, etc. With the help of provide reward, the chosen business able to attract maximum employees participation at workplace. This is because, different scheme helps to focus on the creativity and attain desired goal in the business environment. The chosen company also learns with the training and development program that organised by the business to attract customers at workplace (Hunsberger, 2017). Therefore, it leads to attain more profits and revenue at workplace. According to the roles, specialised program has been carried so that effectiveness also developed in systematic manner. Main important benefit that the cited firm provide to their employees is that flexible working hours. It assists to support and create effective systematic functions at workplace. It assists to build career program to promote women and brings more friendly policies (Staton, 2016).
Process: Marks and Spencer consider their stores at different areas such as malls, sub urban areas, etc. All these stores are maintained properly with organised creative and effective activities and functions. In addition to this, it is develop beautiful stores which could be easily compared through different stores such as pantaloons, wills, etc. Marks and Spencer divided their stores to make convenience for their customers. In each floor, they segregate functions in sections such as clothing, gifts, flowers, home ware, furniture, etc. (Grishikashvili, Dibb and Meadows, 2014). In each section, the company develop their operations to focus on the creativity and development. In order create online development of the products and services, the company can make their effective strategy to focus on the systematic results. Customers can easily select stuff, which they required so that it increases effectiveness at workplace.
Physical evidence: Marks and Spencer has more than 1000 stores so that there are several people working in these stores so that effectiveness increasing to develop target market. With the help of the major consideration, it has been seen that in different nations qualitative and standard products are provided by the company to attract more people (Leite and Azevedo, 2017). In addition to this, in different range of the products, they provide products and services to attract more people. As results, it assists to make effectiveness in the business. Customers are also getting option of home delivery so that it create positive impact on the business functions (Buchanan, Kelly and Kariippanon, 2018).
In order to implement effective functions and operations with the control and implementation activities, it is important to look upon the following analysis:
PEST analysis concerned with the environmental influences in the business. It is the way in which acronym stands with the political, economic, social and technological, etc.
Political: In the international market, there are several countries that operate successfully to develop effective functioning. In this regard, government encourages to the Marks and Spencer to operate their functions so that effectiveness could be develops successfully (Yadav, Joshi and Rahman, 2015). Competitors of the chosen business also consider their looking towards the advantages of high cost structure so that they are able to bit with market share as well.
Economic: Marks and Spencer specialised their products and services to attract many customers niche market and focuses to satisfy customers. Therefore, they are able to increase country economic performances in effective manner (Royle and Laing, 2014). With the help of the product development activities with import and from abroad, the company can implement saving which put advantages with higher quality.
Technological: technological elements play very crucial role to consider success in the business environment. In this context, Marks and Spencer need to focus on the new fashion and attain more desired results in the business. Therefore, they are able to communicate designer products to attract customers in the business (Karjaluoto, Mustonen and Ulkuniemi, 2015). In addition to this, they need to signify their operations with more quick operations and functions to develop effectiveness in the business.
Environmental: Selling products by the supplier directly is great advantage to the company. In this aspect, it is important to the company to follow all rules and regulations that are signifies by the government to keep safety in the environment development. It assists to pay proper consideration in the business to gather effective results at workplace. Furthermore, bio diversity also needs to look by Marks and Spencer so that effectiveness could be managed in the environment (Signori and Flint, 2016).
Legal: In order to offers high standards of quality products, it is important to meet with the requirements so that Marks and Spencer known for delivering brand operations with class quality as well. It will assist to look upon the systematic work performances in the business environment (Benz and Tanner, 2017).
In respect to look upon the creativity, it is essential to implement SWOT analysis so that business able to attain effective functions and operations in the business environment. In this regard, following discussion could be implemented for the chosen business:
Strength: Marks and Spencer consider their powerful brand so that their operations are going successfully. In this way, the company also consider value for the money, convenience and wide range of product development to attract customers. In this regard, the company also grow with substantially in last recent years with global expansion (Urban, Gosline and Lee, 2017). Therefore, it will assists to make competitive advantages in the business and attract several people as well. IT activities of the company also grow continuously so that they are able to deliver effective results in the market.
Weakness: However, advertisement activities of the Marks and Spencer are very low so that they are unable to expand their operations and functions in international boundaries. In addition to this, in several nations it is not operate so that they are unable to get more customers from other nations (Paul, Bhuimali and Bhowmick, 2018).
Opportunities: In order to take advantage and merge with strategic alliance, it is important for the chosen business to consist them global retailers. In this regard, the chosen business able to attract customers from specific market which assists to gather maximum people in the business. In addition to this, with consider online tools they are able to make innovative functions and operations (Tiago and Veríssimo, 2014).
Threats: However, competition is major aspect that creates negative impact on the business. This is because, in the international areas there is different business existed that operating and compete with each other. Therefore, it is essential to Marks and Spencer to consider innovative and unique features so that they are able to attract more people in the business (Rowley and Keegan, 2017).
In order to develop maximum operations and functions, Marks and Spencer consider leading in the different areas of the world. In this way, from the above graph, it has been shows that the company developing their operations and functions to carry different activities in the world (Armstrong, Kotler and Brennan, 2015). Therefore, they continuously develop their expansion with innovations and creativity. It assists to look upon the advantages which revealed with the retailer operations and attain overall growth in the business environment. It assists to make some creative results at workplace to solve issues and problem of the country. In 2017, the company has decreases their sales around 5%. As results, their profitability also reduced continuously which impact negatively on the business operations and functions. The company is very well known in term of retailer so that it is important to look upon the advantages to show creativity at workplace (Chaffey and Ellis-Chadwick, 2016).
Furthermore, in clothing and home-ware they produce more so that online development of the business activities considers making systematic results. Chief executive officer of the business also consider their operations and functions in international market to falling out of fashion from last several decades so that it increases effectives to attract more people in Marks and Spencer. However, there is structural issues exist that create negative impact on the business performances so that it make positive impact on the business environment. In order to expand creative results, it is important to look upon the analysis and expectations towards the business development (Mooney and Slobodian, 2016).
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From the above report, it can be concluded that Marks and Spencer considered their systematic operations and functions for the effectiveness and creativity. In this regard, successful operations are also developed that assists to expand operations in different areas of the world. With the focusing on the creative results, it has been seen that report summarised about the objectives and development program that assists to make creativity at workplace. In addition to this, it articulated about the successor plan which carried to operate innovative functions and operations in the business environment. As results, effectiveness could be increasing.
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