MARKETING PLAN

Marketing Plan: Marks & Spencer Plc

Executive summary

M&S is an international brand and it has to position its brand erratically. In this paper we have conducted situational analysis so that effective marketing plan could be established. The reputation and brand name of Marks and Spencer are the strongest strength of the company.

One major weakness of Marks and Spencer is that the company is stuck with the 'old fashion' image. There is a wide range of opportunities the biggest threat for Marks and Spencer is the competitive nature of the market. They have very tough competition in the market and to compete they are currently focusing on differentiation strategy but they have to focus on cost leadership strategy and expand their Market in order to gain competitive advantage.

Marketing Plan: Marks & Spencer Plc

Overview of Marks and Spencer

Marks & Spencer was founded in 1884 in the UK by Michael Marx and Thomas Spencer and is currently working in over 30 countries worldwide. In the UK there are more than 850 chain stores Marks & Spencer and more than 200 operating around the world. Marks & Spencer is the largest retailer of clothing in the UK with sales of £7-8 billion, representing 9.9% of the market of clothing and footwear.

Swot Analysis

Strengths

The reputation and brand name of Marks and Spencer are the strongest strength of the company. Marks and Spencer has an experience of several years and have catered a broad consumer following. It has been able to create a brand loyalty and strong brand image all over the world. It has a good reputation for the money value, quality and excellent service. One of the other strength of the company is its strong street presence. Another important strength factor for the company is the quality of the products. The company's market share is 9.5 percentage points ahead of connected retailer, giving it enough cushions to weather the competition (Graham, 2010, 115). M&S enjoys highest conversion rate of 51.1% and is very successful in converting visitors to loyal predominant users through its varied product offer, in-store service and garment quality.

Weaknesses

One major weakness of Marks and Spencer is that the company is stuck with the 'old fashion' image. This is one of the strength of the company but is its weakness, as well. Due to this image, even though the quality of the products is second to none, Marks and Spencer does not appeal much to the younger generation. The image of the company is considered as dull to the young generation as they believe that the company does not offer the latest fashion and trends. This weakness needs to be overcome by the company to cater to a wider audience which will benefit the company in a substantial way.

Opportunities

There is a wide range of opportunities for Marks and Spencer which they can take advantage of. The company has an opportunity to target the younger generation through introducing the latest fashionable clothing line which appeals to the ...