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Marketing Strategy Development Assignment Level 5 CBC College

1564 Downloads I Published: 25 May ,2020

INTRODUCTION

A good marketing plan will help a firm to grow and develop in a better way. A good marketing strategies will help the company to connect with its customers and gain a good trust and revenue. The good collaboration with the various brand will help in suitable riser in compatibility that will help in effective growth and development of business operations in a better way (Hakansson, 2015). For the report, Mark and Spencer's is been taken as the organisation of context. It is a UK based retail organisation. This analysis will lay impact on the details of an organisation and the industry it belongs i.e. retail sector. Also, issues including the mission and vision statement and the communication method used by the organisation. It will also include the description of products and service it provides and role of brand has on organisations marketing strategy. Also, the 5 C's and the information collecting measure are been identified in the organisation. Besides this, a marketing strategy is being developed for the firm with recommendation to potential market segment. Also, the value preposition is been analysed. Other than this, a proper marketing tactic is been analysed and a detailed marketing mix is been performed that will help in drawing of marketing model, concept and theory (Sakas, Vlachos, and Nasiopoulos, 2014.).

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Main Body

1) Issue 1

Marks and Spencer's or M & S is a UK based retail enterprise that work in the better management of the business operations and actions performed in the organisation. This will help in suitable rise in compatibility and better following of different operations in retail sector. It helps in better rise in work efficiency that will support a good management of business system. It will help the organisation to share a good share of marketing operations that will help in suitable rise in compatibility that will help in superior rise in operation and thus will support a good development of business operations that will support a good rise in functional efficiency of organisation (Ross, 2017.). The firm deals in the supplying of day to day items along with clothing, food products and other products. As the established firm in the market, the firm uses strategic and innovative measures to promote its goods and services that will help in suitable rise in compatibility that will help in better revenue generation. The market environment of the UK is favourable for the growth and development of wide range of operations that will support a good growth and development that will support a good management of needs and demands of the customers of organisation. A wide range of business operations involving the segmentation and targeting is used to meet the operational requirements of organisation. Other than this, the firm has collaborated with many brands also sell out the different sort of branded products and services which help the enterprise to meet the operational capability of organisation that help in suitable rise in functional operations of organisation. The selling or providing of high quality product and services will support the firm to gain more customers and meet their operational requirements in a better way (Kim and Mauborgne, 2014). This will increase the customer base of the company in a much significant and effective way. It will also help in gaining a good customer base in market. This will help in suitable rise in operational capability of organisation. The product and services that are been used by the organisation will help in suitable handling of business operations that will help in better rise in operational capability of organisation.

Products like clothings, food items and other material will help in increasing the portfolio of organisation that will support a better of operations and help the customers to gain a good satisfaction level. The brand also plays a very deep and crucial role in handling of business operation that will help in increasing the capability of operations that will help in suitable rise in loyal customer base. It will also support a good handling of operation by meeting the needs and demands of organisation. This will help in suitable rise in functional capability of organisation (Johanson and Mattsson, 2015). Collaboration with a good and famous brand will support a better rise in compatibility of operations that will support a better rise in functional management of organisation. Other than this a good collaboration with the brand will help in suitable rise in functional capability and management of operations that are been followed by business firm. Selling the branded products on its outlet will give M & S a suitable chance to improve its revenue generation and gain a better return of investment, implemented in the organisation.

2) Issue 2

The 5C's for an organisation will help in suitable handling of operations that will help in suitable management of operations and meeting of targeted operations that will help in suitable management of wide range of business operations. The 5 C's analysis of business operations is as follows:

Company: this will involve the better assessment of wide range of operations and their assessment which will help in gaining a good insight about the operation that the organisation will follow (Luxton, Reid and Mavondov., 2015). This will help in gaining a better idea about the range of operations which are followed by the organisation. This is been analysed using the effective SWOT analysis of the business operations which is as follows:

SWOT Analysis

Strength

Weaknesses

The major strength of M & S is the good establishment in market that will support business operations which will help in suitable management of business operations followed by organisation.

The uncertainty in perception of customers is the major issue that I been faced by a business organisations and will lay a very deep impact on overall functionality and revenue generation of the company.

Opportunity

Threat

The rise in economy and gaining of a good market share is the major opportunity that is been used for the better growth and development of business operations (Giaoutzi, 2017).

The lack of innovation and uncertainty in customers requirements is the major factor that can impact the growth and development of a business operation that will lay a deep impact on overall operations and revenue generation of the firm.

Customers: The major customer's of the company will involve the major handling of needs and demands, that will cause the company to manage the operations which will cause the better management of functions. The main customer's of the firm is the developing class of people that has gathered the economic stability with the growth in the revenue of the company. This will help in suitable rise in capability and revenue generation of a business organisation. The typical behaviour of the customer will include the access to the good quality of products and services that will lead to a good management of business operation (Stark, 2015.).

Collaborators: M & S will have a good number of suppliers, distributors and other partner involving the transporters and outlet owners. This will help in suitable rise in compatibility that will lay a deep impact on wide range of operation. The retail firm is required to have the proper relations with their collaborators that will lay a very deep impact on the business operations in a better way. It is necessary for an organisation to have collaborators as they will support a good management of operation in wide range of scenario, which will support a better rise in it profitability and revenue generation.

Competitors: with the advancement of technology and entry of multiple companies in retail sector will lay a very deep impact on the operations that are been followed by the business organisation. M & S has multiple competitors and rival like Tesco plc, Morrison etc. that will impact the business organisation to handle their operations in a better way (Lusch and Vargo, 2014). The rise in competition will cause the business organisation to make a strategic plan that will impact its growth and development. As M & S is well established in market, the treat from new entrant is very minimal.

Context: various external factors like political, economical, social or technological will lay a very deep impact on operations that will cause the firm to manage the operations of organisation and develop a strategic plan. This will also help in suitable handling of operation which will support a good rise in functional capability of organisation.

3) Issue 3

M & S will use the various measures which will help in good management of operations which will see through the better handling of operations in firm. The firm will use the suitable range of operations like market research, market analysis etc that will lay a deep and significant impact on wide range of business operation which are been followed by the business operations. It will help in better assessment of 5 C's of organisation (Grant, 2016). This will support the firm to gain a suitable idea and knowledge of various impacting factors that will affect the overall operations of business enterprise. The effective market research process that is been followed by the organisation will aid in identifying the needs and requirements of the customer and thus will look after the better management of business functions of cited business entity. The assessment of customers requirement will help the company to develop a good and high quality product and services. Besides this, it will help the firm to identify its close competitor that will lay a deep impact on operations and thus will help in suitable meeting of operations and development of a strategic plan to mitigate the adverse impact on the operations which are to be followed by the organisation (Wirtz and et,al., 2016.).

Other than this, any sort of change in context or operational environment of business will be followed, that will lead the firm to take strategic operations and measures which will help in better growth and development of the organisation. The differences in perception and requirement of business operation will help in suitable rise in functional capability of organisation. Other than this, the collaborators associated with the firm will lay a deep impact on operations which will cause the firm to develop and follow a strategic business plan (Charter , 2017).

4) Issue 4

Market planning for M & S

Mission: The main mission of the company is to provide its customers with high quality services and products that will help in suitable rise in compatibility of the organisation and gain a sustainability in market.

Vision: The vision of cited retail firm, M & S, has the following vision to fulfil:

  • To gain a sustainability in market.
  • Provide its customers with high quality products and services.
  • To gain a good customer satisfaction level.
  • To have a good competitive advantage over its rivals (Welford, 2016.).

SWOT

SWOT Analysis

Strength

Weaknesses

  • M & S is the good establishment in market that will support business operations which will help in suitable management of business operations followed by organisation (Hult and Ketchen, 2017).
  • It has a big portfolio of wide range of products and service that will help the organisation to meet the operational requirements in a better way.
  • Collaboration with branded products has helped in improving its sales (Goworek and McGoldrick, 2015).
  • There is an ineffectiveness in perception of customers is the major issue that I been faced by a business organisations and will lay a very deep impact on overall functionality and revenue generation of the company.

Opportunity

Threat

The rise in economy and gaining of a good market share is the major opportunity that is been used for the better growth and development of business operations. Besides this, it will help in suitable growth and development of market share of company.

The lack of innovation and uncertainty in customers requirements is the major factor that can impact the growth and development of a business operation that will lay a deep impact on overall operations and revenue generation of the firm (Baker, 2014).

Pestle Analysis of M & S

  • Political: The political factors will lay a very deep and crucial impact on the operations that will help in suitable rise in handling of business operations. A good political and operational support will help in better establishment and growth of an outlet in a targeted business market. This will help in better generation of revenue.
  • Economic: the economy of nation will also play a very deep and intriguing role in handling of operations. This will help the organisation to handle the business operations in a better and significant manner. A positive economy will aid in a good profitability.
  • Social: the fulfilment of social factors will help in suitable handling of business operations that will help in suitable rise in capability and meeting of their clients and employee's operational requirements in a better way (Tomczak, Reinecke and Kuss, 2018.).
  • Technological: The usage of latest and advance technology will help in suitable rise in compatibility of operation that will help in effective handling of business operations. It will help in better growth and development of operation's at M & S.
  • Legal: this will involve the suitable and effective legal obligations which are required to be followed by the organisation. This will increase the efficiency of a firm to perform the business operations.
  • Environmental: M & S will is after the better planning of operations that will help in suitable rise in compatibility and fulfilment of environmental concerns of the organisation as well as the customers (Vahlne and Johanson, 2017.).

Marketing objective

The main objective behind the marketing is to promote the services and high quality products that are been developed by the retail organisation that will help in suitable management of businesses operations that will help in suitable rise in compatibility that will lead to generation of high quality product and services that will help ins suitable management of business operation that are been followed by the business organisation. Other than this, a good marketing will help in improving a better hare of operations that will involving the developing of positive perception in customers mindset about the product and service (Chaffey and Ellis-Chadwick, 2016).

Market strategy

The company will be using the effective market strategy to handle the business operations in a better way. An effective and better market strategy will help the firm to promote and sell its products and services in a better way. The major marketing strategies that are been taken in consideration are as follows:

  • Segmentation: it is the strategy that will help in suitable management of the operations that will help in good handling of operations. It will lead to the segmentation of wide range of operations which will cause the firm to handle the operations in better way. Segmentation will help in promotion of goods and services that are been used to have a good control over the operations and meeting of targeted operations in a very effective manner.
  • Targeting: It involves the deep management of operations that will include the better promotion of their products and service to a target customer base. This will increase the preciseness and thus will support a good management of business operation by the organisation. These enables the firm to sell their products and service in a better way (Johnson, 2016).
  • Positioning: this process involve the better placing of M & S in a targeted market and gain a better sustainability. This will help in suitable rise in operational capability of operation that will help in suitable measures and operation. A good positioning will support better revenue generations and handling of business operations.

Action program

This will involve the details of the activities or measures that are been followed by and organisation that will help in suitable management of operations to promote their products and services. The effective following of operations will help in suitable management of operation that will facilitate the better growth and development of organisation.

Financial forecast

This will involve the details including the proper budgeting and revenue generation that will help in suitable rise in compatibility of operation that will support a good management of operations that will help in suitable rise in operational capability of organisation. The better management of monetary resources will help in effective growth and development of business operation that will help in suitable rise in compatibility and meeting of business operations in a better way.

Control measures

The management of M & S will look after the better adoption of control measures that will be followed by the organisation. This will help in suitable management of high quality measures that will support a good rise in operational capability in a better way. This will support a good handling of operations which will help in better growth and development of business operations in a better way. Also, it will mitigate the chances of failure of business operations.

5) Issue 5

The marketing tactic will involve a better assessment of 4 P's of operations such as:

  • Product: development of high quality product will help the firm to meet the needs and demands of the customers in a better way, helping in better revenue generation.
  • Pricing: A good and effective pricing will help in better management of business operation that will help in suitable rise in operational capability of organisation (Armstrong and et.al., 2015).
  • Promotion: a good promotion will help in developing and promoting good quality services and will help in suitable rise in compatibility of operations which will help in suitable rise in operations and revenue generation.
  • Place: effective and suitable placing of outlets will help M & S to gain a good revenue generation and meeting of its targeted goals. The firm has to look after the better accessibility to retail firm for purchasing goods and services in a better way.

CONCLUSION

Thus, the suitable marketing strategy will be followed by the organisation that will help in suitable handling of the business operations. The report laid focus on various issues including the mission and vision statement and the communication method used by the organisation. It also included the description of products and service it provides and role of brand has on organisations marketing strategy. Other than this, the 5 C's and the information collecting measure are been identified in the organisation. Besides this, a marketing strategy is being developed and presented for the firm with recommendation to potential market segment. Also, the value preposition is been analysed.

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REFERENCES

  • Armstrong, G. and et.al., 2015.Marketing: an introduction. Pearson Education.
  • Baker, M.J., 2014.Marketing strategy and management. Palgrave Macmillan.
  • Chaffey, D. and Ellis-Chadwick, F., 2016.Digital marketing. Prentice Hall.
  • Charter, M. ed., 2017.Greener marketing: A responsible approach to business. Routledge.
  • Giaoutzi, M., 2017.Tourism and regional development: New pathways. Routledge.
  • Goworek, H. and McGoldrick, P., 2015.Retail marketing management: Principles and practice. Pearson Higher Ed.
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  • Hakansson, H. ed., 2015.Industrial Technological Development (Routledge Revivals): A Network Approach. Routledge.
  • Hult, G.T.M. and Ketchen, D.J., 2017. Disruptive marketing strategy.AMS Review,7(1-2), pp.20-25.
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  • Johnson, G., 2016.Exploring strategy: text and cases. Pearson Education.
  • Kim, W.C. and Mauborgne, R.A., 2014.Blue ocean strategy, expanded edition: How to create uncontested market space and make the competition irrelevant. Harvard business review Press.
  • Lusch, R.F. and Vargo, S.L., 2014.The service-dominant logic of marketing: Dialog, debate, and directions. Routledge.
  • Luxton, S., Reid, M. and Mavondo, F., 2015. Integrated marketing communication capability and brand performance.Journal of Advertising,44(1), pp.37-46.
  • Ross, J.E., 2017.Total quality management: Text, cases, and readings. Routledge.
  • Sakas, D., Vlachos, D. and Nasiopoulos, D., 2014. Modelling strategic management for the development of competitive advantage, based on technology.Journal of Systems and Information Technology,16(3), pp.187-209.
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