MARKETING PLAN MARKS & SPENCER

Marketing Plan Marks & Spencer

Marketing Plan Marks & Spencer

Introduction

One of the big organisations in the retail business is Marks and Spencer (M&S). It is one of the UK's leading retailers of clothing, foods, home ware and financial services, serving 10 million customers a week on over 300 UK stores. M&S is headquartered in London, UK.

M&S has been through a lot and faced a lot of struggles. Troubled in recent years and suffering from slipping market share, the company had divested itself of non-core and overseas interests and had begun to show signs of improvement. By understanding M&S's strategic position, it will help to understand their marketing plan as they are directly connected to each other. It is best to start by analysing; SWOT and PEST analysis as a way of the strategic capability of an organisation. Second, an external analysis will be recognised.

Subsequent, for organisation to succeed a Marketing Communication strategy has to be planned and several recommendation and solutions will be suggested for M&S. All of that will be introduced and analysed through out the report.

Background of Marks and Spencer Plc

Marks and Spencer (M&S) was founded by Michael Mark, which became one of the most recognised brands in the UK and across the world eventually. Michael has form a partnership with Tom Spencer in 1894. Both partners died in 1900s leaving the business to be succeeded by Michael Mark's son, Simon and Israel Sieff, who together established a business philosophy based on quality, value and service and cooperation with customers, suppliers and community. (Johnson; Scholes, 2002: 9).

They became a public company in 1926. M&S principles are quality, value, and service. 'Lord Marks was obsessed with the product he was selling and the service he was giving (Bevan, 2002).

Vision of the Company

M&S believes in marketing as a tool of development. However, they are focusing in their brand more than focusing in their customer needs. Lately, few years ago, when the new director have been appointed. They start to focus on the customer need and try to target different ages and focus more in different marketing communication plan.

At Simon period, he has decided on a 'new look and a new character more in keeping with the goods we are selling'. Rayner had modern ideas about marketing and professional management.' I have to create the future, not preside over the past' (Bevan, 2002: p91).

Throughout its history M&S had believed that its product does not need any special marketing. Rayner disagree and set up the first ever-marketing department n the 1990'.

SMART

The aims are what Marks and Spencer is trying to achieve in the long term. All business has different aims and Objectives that vary in some kind. For an Example Marks and Spencer aim might be to make sure that they make a profit this year. What are Smart objectives? Business also set objectives that are known to be SMART objectives. The meaning of SMART objectives is that the objectives that they set for the company should include ...