Marketing Summary Essay Example

budget, business location, pricing strategy, and market segmentation. Various market planning tools are used by businesses including PESTLE audits (Political, Economic, Social, Technological), SWOT analysis (Strengths, Weaknesses Opportunities Threats), SMART objectives (Specific Measurable Achievable Relevant Time-bound), strategy and tactics evaluation.

Marks and Spencer utilize these tools in their development plans; for instance conducting PESTLE analysis to assess political factors affecting the organization. Marks and Spencer must be prepared for government-imposed changes in health and safety regulations as failure to comply can result in fines or closure. A specific incident involved an employee being injured by a warehouse door that was not properly secured.Marks And Spencer allegedly ignored repair requests which led to the deterioration of the door.However,the company pleaded not guilty,and the trial outcome is pending.In January 2006, Marks & Spencer announced its plan to become a major player in the fair trade sector for both clothing and food. Their fair trade policy incorporates measures such as reducing salt and fat content in products, using recycled packaging, and ensuring animal welfare. Stuart Rose, Chief of Marks and Spencer, emphasized the growing importance of ethical production to customers alongside good value. The state of the economy has a significant impact on business performance as retail sales are greatly influenced during periods of economic prosperity or recession at national or global levels. Currently, consumer spending on luxury items like clothing and gourmet food has declined due to an uncertain economic outlook. This has resulted in negative consequences for Marks and Spencer including store closures and a 2% reduction in their workforce comprising 70,000 employees. To mitigate these effects, the company has implemented various strategies such as offering two

days of 20% discounts prior to Christmas and introducing a 20% discount on wine and champagne to remain competitive. Despite still expressing satisfaction with purchasing products from Marks and Spencer, customers have decreased their spending due to the current economic situation. Consumer behavior is influenced by social factors connected to societal values and beliefs.The information provided in this text is especially valuable for businesses that target large segments of the population, such as newspapers and magazines. In recent years, society has experienced various changes, including cultural shifts and shifts in customer expectations. In 2006, Stuart Rose, the CEO of Marks and Spencer, implemented a multi-channel retail strategy to compete with other companies by selling food online and expanding their brand. Supermarkets have responded to the growth of affordable clothing industries by embracing fashion trends, which poses a challenge for high street clothing stores. Marks and Spencer has addressed this challenge by updating their clothing ranges based on customer interests. Consumer purchases are influenced by factors such as culture, society, personal preferences, and psychological characteristics. Marketers must consider these factors when developing strategies. The changing landscape of consumer behavior holds great significance in the retail market. Managing company brands is crucial for relevant managers because branding serves as a means of communication and advertising for large companies. Utilizing initiatives and new technologies can help establish a standard among the public. For Marks and Spencer specifically, heavy advertising is necessary to continuously communicate with customers.Marks and Spencer showcases famous personalities like Mullen class, Twiggy, Erin o' Connors, and Anomie Lenore in TV ads and on their website to promote their clothing range. These models cater to women

of all ages.

The company places a high priority on health and safety regulations by ensuring compliance with legal requirements. They provide annual retraining and updates to ensure adherence.

Marks and Spencer demonstrates its commitment to the Fair Packaging and Labeling Act (1996) on its website. This act regulates the packaging and labeling of consumer goods. Packaging plays a crucial role in protecting products during transportation and storage, reducing waste, providing instructions and ingredient information, as well as enhancing product presentation in stores.

To protect customer rights regarding data protection, Marks and Spencer follows the Data Protection Act 1998 and the Freedom of Protection Act 2000. These acts are particularly important as they collect customer data for delivery purposes.

Businesses are influenced by environmental factors such as social, political, and legal aspects. Governments may exert pressure on companies to increase recycling efforts due to growing demand across all sectors for changes in materials usage and sustainable practices.Recently, the CEO of Marks and Spencer introduced "Plan A," a comprehensive 5-year plan aimed at transforming the company into a carbon-neutral organization that produces zero waste-to-landfill. This plan focuses on ethical trading, sustainable sourcing, and promoting health. SWOT analysis is a method used to assess internal strengths and weaknesses, as well as external opportunities and threats within a business. It involves researching the current and future position of the organization to establish marketing objectives, strategies, and plans.

Strengths are advantages that enable efficient operations. Marks and Spencer demonstrate this through their high quality products that attract customers. Their customer service is also a significant strength as it prioritizes providing excellent experiences for customers. Moreover, their stores are designed attractively to offer flexibility and

convenience.

However, there are areas for improvement or weaknesses. One weakness for Marks and Spencer is their pricing strategy as customers currently prefer cheaper clothing due to economic circumstances. Another weakness lies in their lack of modern design options specifically in ladies' outwear.

Overall, conducting a SWOT analysis helps gather information about an organization's internal strengths and weaknesses while identifying external opportunities and threats.Younger consumers, including those who prefer brand labels such as Next, Deadbeats, and Tops, present both challenges and opportunities for Marks and Spencer. One opportunity lies in the use of technology which has rapidly developed in today's world. This advancement has led to a higher demand for online products and customers are satisfied with the e-shopping experience provided by Marks and Spencer. Another opportunity is to focus on healthy eating as people become more health-conscious. Offering specific food options can attract attention and increase sales since customers desire quality foods along with a variety of choices. To further boost sales, Marks and Spencer can introduce a diverse range of foods.

Despite its success, Marks and Spencer faces threats primarily from competitors like Deadbeats and Next. Additionally, the changing social environment poses a threat as people's needs may shift accordingly. Therefore, it is crucial for Marks and Spencer to adapt to these changing needs in order to maintain their success.

To guide their strategic planning efforts towards expanding their stores internationally with a focus on the UK market, Marks and Spencer sets SMART objectives that are specific, measurable, achievable realistic ,and time-related.Marks and Spencer established measurable targets for their business based on previous expansion efforts in the UK, which they deemed achievable within a specific timeframe. These

targets were set with realistic considerations, taking into account assessments of their competitors. In November 2010, they announced plans to expand their business over the course of five years. However, they managed to achieve most of these targets in just two years.

Their strategic plan, formulated in November 2010, focused on building a robust team and making changes to their capital structure. The ultimate objective was to expand their food stores throughout the UK and become a multi-channel retailer. To accomplish this goal, Marks and Spencer conducted thorough market research to enhance product offerings. They also adhered to government policies for environmental protection in the macro environment while maintaining strong relationships with suppliers and customers at the micro level.

By implementing strategies that aligned with societal trends, Marks and Spencer successfully attracted new customers while retaining existing ones. This analysis provides valuable insights into their strategic planning process, which has contributed significantly to their longstanding success. Furthermore, it highlights the importance of marketing research in effective marketing planning.

In particular, this analysis examined the current range of sandwiches available from Marks and Spencer and evaluated the levels of service provided by them. The findings from this analysis reveal various key points worth noting.The survey results revealed that 75% of customers wanted a wider selection of children's sandwiches, while 82% desired longer store opening hours. Additionally, 65% reported encountering unfriendly staff and 50% believed the sandwich contents should be fresher. Furthermore, 80% expressed a preference for more wraps.

Based on these findings, it can be concluded that the majority of customers (150 out of 200) prefer children's sandwiches. This suggests that characteristics such as color and appeal are important factors

in its popularity, especially among young children. To further enhance the sandwich's popularity and boost sales, it is recommended to make it more colorful and appealing by including a toy and ensuring attractive packaging. Offering meal packs would also help attract more customers.

When designing children's sandwiches, taste preferences should be considered. They should have milder flavors compared to those aimed at adults since children generally do not prefer spicy food. Adding more color and offering seasonal meal options would improve the sandwich and increase sales during specific periods. Providing meal deals would also contribute to overall better sales performance.

To achieve these goals, a SMART objective has been set: to produce a greater variety of differently shaped and colorful children's sandwiches by an additional 10% within the next two months.64 out of 200 surveyed individuals expressed their desire for extended shop hours, specifically on Saturdays and Sundays. In today's fast-paced world, where people often spend their nights visiting different places or shopping, extending shop hours would attract late-night shoppers. Additionally, changing the shop's interior design based on seasons would enhance its appeal to customers and expand the customer base for the sandwich bar.

By extending shop hours during weekends and special seasons, the bar would benefit from higher profits as people tend to prefer buying food from shops rather than cooking at home, especially at nighttime. Furthermore, implementing home delivery services alongside extended shop hours is likely to result in more orders compared to other bars in the area. This approach would help attract more customers from competing stores and even discover new customers who prefer shopping closer to closing time.

It is important to acknowledge that friendly

staff are crucial for customer satisfaction and repeat business. The current staff at the store appears unfriendly. To boost staff morale, implementing a staff recognition scheme could be beneficial. Offering different shifts or rotating job assignments can prevent staff from becoming bored. Moreover, providing comprehensive training on customer service techniques would enhance their ability to effectively handle customers. Lastly, distributing the workload among staff members can help reduce stress levels.To maintain high-quality service, it may be worth considering recruiting new staff members who display great potential. A realistic goal could be training or recruiting 10% of all employees within the next three months. Based on customer feedback, 50% of them believe that the sandwich fillings should be fresher. To meet this demand for healthier and fresher food options, the bar can introduce new items such as salads. It would be advantageous to request suppliers deliver necessary materials every morning. Proper storage techniques, like covering sandwiches with foil paper and storing them in coolers, can ensure freshness. The sandwich bar can enhance their business by preparing sandwiches on-site, resulting in fresher food and happier customers. Adding salads and vegetables to the sandwiches will also make them a healthier option while providing essential nutrients. Hiring more employees to serve customers could be considered in order to ensure prompt service. Additionally, meeting customer demands by introducing wraps like chicken and vegetable wraps would be beneficial.
The bar should prioritize using fresh ingredients, including salads, onions, and tomatoes, in their wraps.Moreover, they have the potential to offer meals to their customers.Through market research,the bar can gain insights into their target market and create a strategic plan accordingly.One possible strategy is

introducing three different types of wraps within one month to expand their menu options by 5%.This information will assist the bar in evaluating its strengths, weaknesses, opportunities, and threats. One significant strength is their popular children's sandwich that has garnered a loyal customer base of 200 individuals. However, certain weaknesses require attention such as unfriendly staff and a lack of fresh food supply. Addressing these weaknesses will contribute to achieving business success. To attract more customers and generate higher profits, it is suggested to expand the range of food choices available with an emphasis on children's sandwiches. Additionally, offering a greater variety of wraps in-store can help boost sales and profit margins. Nevertheless, competitors pose a threat to the bar's success as they may surpass them if good service is not provided. Furthermore, the potential opening of new nearby shops could entice customers away by offering better service or products at lower prices.