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.
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Introduction and objectives
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:
- To employee orientation: In this context, the chosen company has higher expectations to contribute more within the enterprise. In this consideration, succession management activities develop to create career path for the employees. Hence, they develop program for attracting more customers at workplace. In addition to this, they are also requires to implement creativeness with higher calibre workforce that helps to improve effectiveness.
- To make themselves market leader: Marks and Spencer also consider regain their leadership program in food items. This is because, they consider translating their scale and authority into the superior quality, value and appeal (Karjaluoto, Mustonen and Ulkuniemi, 2015).
- To increase sales and objectives: Marks and Spencer belief that there are plenty of room for improve sales. They considered that operational objectives develop to make effective functioning.
Market situational analysis
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).
- Competitor analysis: Competitors analysis is the procedure in which information collected for the competitive enterprises exist in the market. The chosen company deals in UK’s leading clothing business but there are several competitors exist that create impact on the enterprise. Tesco and Sainsbury are major competitors of the Marks and Spencer. Sainsbury consider their operations in biggest food chain and compete with chosen enterprise. Furthermore, Tesco deals to make standard products and services (Paul, Bhuimali and Bhowmick, 2018).
- Market analysis: Market analysis considered increasing sales around 3.9% in clothing and 4.1% in food. Therefore, the company develop their online products and services. M&S consider franchise in different areas of the world to attract more customers at workplace. Therefore, they are able to attract more customers in one strategy.
Target market and segmentation
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.
Marketing mix strategy
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