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Effective Measures and the ways in which Marketing can be defined - A study on M&S

University: COVENTRY UNIVERSITY

  • Unit No: N/A
  • Level: High school
  • Pages: 6 / Words 1438
  • Paper Type: Assignment
  • Course Code:

    N/A

  • Downloads: 28
Organization Selected : M&S
Question :

This assessment will cover certain questions which are like:

  • Explain the effective measures and the ways in which marketing can be defined.
  • What are the ways in which the effective formulation of marketing can be taken.
  • Give the impact of marketing.
Answer :

INTRODUCTION

New product development or services covers the complete process to bring new creativity and innovation into the market. The present study will be based on the principle of sales and marketing which is very much necessary for the company's sustainability. Present assessment will undertake the concept of sales and marketing plan. Overall study explaining the impact of marketing on consumers and organisations. Present report based on M&S which will soon launch baby toys products for toddlers or infants.

MAIN BODY

Explaining the marketing and sales concept

Marketing concept

Marketing is the concept is the philosophy that helps to apply in changing environment (The marketing concept, 2010). It helps to hold the key concept of company goals. It involves understanding the needs of customers or getting their satisfaction level. Marketing concept helps Marks & Spencer to develop baby toy products for the babies. Apart from that, it discovers the long-term stability of the company in a competitive environment.

Sales concept

The sales concept describes the importance of customers who are looking for new products or services from the company (Chang and Taylor, 2016). Marketing tactics or strategies are driven by selling concepts that I based on company needs rather than consumer needs. Sales get up and downs due to changes in the needs and wants of buyers.

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Marketing theory formulation by the marketing plan

Marketing theory formulated is described the procedure to get involved in marketing objectives of M&S. This facilitates with the information of the market, strategy markers determine what marketing approaches will be effective to approach buyers. The main purpose of marketing formulation is to develop the company's services or profitability ratio as well (Gopalakrishnan et.al., 2015). Marketing theories help to implement the concept of a marketing plan by identifying the challenges and issues consist in the competitive market. It gives new development and the best leading chargeable resources and goal.

Marketing plan

it is the process of business growth of the company by clearing out the company goals. It envelops huge information about the business, marketing systems and strategies. It involves some components such as situational analysis that helps to analyse the situational analysis with the help of identifying the strength, weaknesses, opportunities or threats of the company (Homburg, Jozić and Kuehnl, 2017). Budget, objectives and controls are the other basic components of the marketing plan. A new concept of baby toys helps M&S to invent new product scope for the satisfaction of customers.

Assessing the impact of marketing on consumers or organisation

This new baby product concept of M&S gives a positive impact on those customers who wait for the baby toys products by the M&S brand. Applying the marketing strategies will help to create more awareness in the market. New product development might be favourable for the company or customers as well.

On Consumers

It encourages the development process of selling concepts and also develops a better growth-oriented task for the company. It gives consumers more variety of product services and encourages them to buy more (Miles and et.al., 2015). In case of low product, reach customers does not aware of the new NPD. A marketing concept or marketing plan helps them to know more about new offers.

On Company

The marketing concept gives a positive impact on the company interns by improving customer reach or market approach. Every marketing concept develops an understanding between customer needs and wants.

Explore the marketing mix, new product/services and sales campaigns in different markets.

Marketing mix

Product

M&S is a popular chain in the retail sector, the Product portfolio for M&S covers the wide concept of the marketing mix. Baby toy products will give a huge expansion to the company. This product targets mothers or small children.

Price

M&S needs to adopt the best pricing strategies to attract a large growth of customers to the new product concept (Mohammad, 2015). M&S also needs to adopt competitive pricing strategies to meet the different needs and goals.

Place

M&S is an international brand that has got more than 1000 stores. To launch a new product. M&S needs to start an online platform for purchasing.

Promotion

To promote products, M&S should need to invite mothers with children to grab their attention at new baby toy products.

People

People of M&S have very educated and polite to dealing with customers. That helps the company to keep customer service more attentive and good.

Process

M&S needs to adapt a fast delivery process that helps to deliver the products in a fast manner.

Physical evidence

To make new products more viral, M&S should need to give some offers or discounts on the product services.

Sales Campaign

M&S invites mothers with their small children to make them feel special and more productive for their products. This sales campaign give a positive impact on the sales profit of the company.

New product or services

New product services encourage the growth of the company, it creates new ways of improving the profit of the company. In the present assignment, M&S launched baby toy products with high-quality material that is 100% safe for toddlers and infant babies. This is the new product line that the company has launched to make a new product profit (Mohammad, 2015).

Different markets

There are different markets where companies performed their activities and run their business. Such as there are different markets like perfect competition, monopoly, oligopoly, and monopolistic competition. M&S deals with a high perfect competition where several buyers and sellers both are present in the same ratio (Mohammad, 2015). For that, New product development is very much essential for the company to keep its market sustained in long term.

From the above-stated context without taking any measures marketing couldn't be done and cannot generate revenue for the business, Measures must be taken according to the situation of the market and must be implemented in the business later on but soon. Many students often face problems when it comes to keeping themselves updated with new content and learning in marketing, but do not worry Instant Assignment Help Australia will provide 100% quality assistance for Marketing Essay Writing Help.

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CONCLUSION

Based on the above-discussed study, it has been concluded that marketing and sale are the huge concepts that bring new offers or services to buyers. It gives profit to the company and services to customers. The present study has been based on the retail sector for which M&S has been taken into action. M&S launched baby toys to attract several mothers attraction. The study has explained the marketing concept to describe the new opportunities for the company. Besides, the study also explained the concept of marketing as well as sales concept.

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