Marketing Assignment Help for Management Students

OZ PAPER HELP

MIA JACKSON

[Marketing Assignment Help for Management Students] OZ PAPER HELP

Page 1

Business current performance Marks and Spencer is one of the largest multinational retail companies of United Kingdom. It is continuing its business operation for more than 125 years. For this long time customers of different countries are using their products of which 21 million are from United Kingdom only because of their high quality products.

To increase employees’ performance and their motivation to the organization’s job, Marks and Spencer has implemented the strategy of providing proper training so that employees can meet their basic needs to perform their ultimate job for which they are entitled for in the organization.It is found that Marks & Spencer Company should implement demographic and geographic segmentation for their products so that each

A sets of activities of an organization to develop new product, communicate with the users of that product, deliver and exchange of that products and offers of companies to the customers or society is named as marketing. It has more than 78000 staffs and 2000 suppliers of their products. From the establishment in 1884, after establishment up to 1996 the company did not need to look behind(Aydınet al, 2005) Till 1996, it was just growing up continuously and expanding it business level of customers and customers from other countries can buy and consume their products easily.

in different areas with different types of products. In 1960, Marks &Spencer has expanded its business in Afghanistan, in 1973 in Canada, in 2016 in Austria, German, Belgium, French and Denmark. In1997 and1998, when the company was enjoying its continuing success, an accidents has been occurred in its financial OZ PAPER HELP

Page 2

performance because of increasing supplier’s cost, rival retailers, new entrance in the market etc. But, marks and Spencer was successful to come up the situation. If its past performance analyzed, it can be seen that up to 2014, the company made a huge amount of profit. Later, it is making loss. It’s earning per share was 29.7, 24.9 and 7.2 in 2015, 2016 and 2017 respectively where it was 32.5 in 2014, 38.8 in 2011, 49.2 in 2008 and on an average it was 32.5 in several years. So, it can be said from 2015 the company’s performance is declining and 2017 it has made a

(

tremendous loss Balmeret al, 2003

).

From the table last five years performance, it can be seen that turnover and gross

(

profit is increasing but net profit and earnings per share is decreasing Aydınet al,

2005).

So, here it is concluded that, other indirect expenditure such as marketing

and administrative expenditure; are the reasons of declining its performance. From 2013 to 2017, in 2017 gross profit was highest but net profit was the lowest. It indicates, in 2017 indirect expenditure of this organization has been increased and

(

Marks and Spencer could not control it Balmeret al, 2003

).

Organization’s current marketing strategy:

Values of Marks and Spencer is “ Quality, value, service, innovation and trust.” on the other hand management of the company has outlined their value as “ our customers continue to see Marks & Spencer as the place to shop for special food, produced to existing standards.” To meet this values and

(

)

objectives the company follows some marketing strategy Aydınet al, 2005 . They are described below:

Using own brand name: Creating a strong brand and using of this brand name are the first and foremost strategy of Marks and Spencer which they uses for their business activities.Management has to segment their production on the basis of age, gender, religion, income and expenditure, number of the member of the family etc(Aydınet al, 2005).Management of Marks and Spencer is involved in a hard OZ PAPER HELP

Page 3

system of controlling stocks and developing these in high quality product. The company started to sell their own production so that their product can be identified exclusively and customer can get high quality product which they expect from the brand(Balmeret al, 2003).

Product

segmentation:Marks

&Spencer segment their produced cloths according to the customer’s prefer so that they can purchase their cloths on the basis of their lifestyle. The anagement has to segment their production on the basis of age, gender, religion, income and expenditure, number of the member of the family etc(Aydınet al, 2005).

Expanding different challenge:It is the era of competition. Peoples are very much busy today which make them unable to go shop for shopping because of having lacks of time. Besides this, new generation is very much reluctant to waste time by shopping. Management of Marks and Spencer is involved in a hard system of controlling stocks and developing these in high quality product. Besides this, supply chain management ensures the relationship of business with their stakeholders which assist them to be improved( Balmeret al, 2003).They are very much favor of online shopping. Marks & Spencer has implemented different online channel so that customers can get their desired product staying at home(Balmeret al, 2003).

OZ PAPER HELP

Page 4

Implementing supply chain management: Supply chain management indicates the control of raw materials for production, information related to the production and market situation and necessary finance which circulate from manufacturer to supplier, after then wholesaler, retailer and finally to customers of the business(Aydınet al, 2005). So, it can be said that supply chain management activities involves commensuration of these kinds of circulation among the stakeholders. Management of Marks and Spencer is involved in a hard system of controlling stocks and developing these in high quality product. Besides this, supply chain management ensures the relationship of business with their stakeholders which assist them to be improved(Balmeret al, 2003).On the other hand, to motivate employees, the company has implemented the strategy of providing reward for the performance of employees. To increase employees’ performance and their motivation to the organization’s job, Marks and Spencer has implemented the strategy of providing proper training so that employees can meet their basic needs to perform their ultimate job for which they are entitled for in the organization.

Increasing internal communication: communication among staffs and employees increase their knowledge regarding their organization, products, and customers above all about the OZ PAPER HELP

Page 5

current market situation(Aydınet al, 2005). To increase employees’ knowledge regarding the market and their relation Marks & Spencer has increased their internal communication systems through telephone, fax, and different social network.

This helps the organization to build up a strong relationship among employees, increases employees’ performance, and reach exact information to the higher level within very short time(Analouiet al, 2003). Supply chain management indicates the control of raw materials for production, information related to the production and market situation and necessary finance which circulate from manufacturer to supplier, after then wholesaler, retailer and finally to customers of the business(Aydınet al, 2005).

Employee motivation and training: To increase employees’ performance and their motivation to the organization’s job, Marks and Spencer has implemented the strategy of providing proper training so that employees can meet their basic needs to perform their ultimate job for which they are entitled for in the organization. On the other hand, to motivate employees, the company has implemented the strategy of providing reward for the performance of employees.

This strategy helps the organization to get the highest performance from employees(Analouiet al, 2003).

Customers’ advantage of demographic segmentation is they can get product as per their need and budget.

(

)

Their necessary products are completely available in the market Balmeret al, 2003 .Besides these useful strategies, the company has implemented another strategy which is internal and external audit to OZ PAPER HELP

Page 6

(

control and monitor full operation, operation procedure, effectiveness of these strategies Analoui

et

al, 2003). Another advantage an organization enjoys for their demographic segmentation of their products is they can achieve customer’s retention and their loyalty to their products as well as to

(

their brands which helps them to achieve the market leading position Analoui

et al, 2003).

Geographic Segmentation

When an organization segments its products on the basis of its business location, it is defined as geographic segmentation. Now a day, business activities are not operated in only domestic area.

On the era of globalization, each company is trying to expand its business globally so that people of other country can consume their products and they can earn more profit. Marks & Spencer has implemented different online channel so that customers can get their desired product staying at home(Balmeret al, 2003).But, it is not easy to expand business globally since taste, culture, religion, education varies OZ PAPER HELP

Page 7

from country to country and consumer purchase any products on the basis of their taste, culture, religion, education etc. marketing audit is the systematic process of reviewing and appraisal of whole activities of marketing such as implication of different policies and assumption, procedure whether these are suitable for organization or which activities should be followed for the betterment of the organization.As a result, before expanding any business globally, organization should produce their products on the basis of that country’s tradition(AydĹnet al, 2005).They should produce their product on the basis of demand and fix their product price on the basis of income level of their customers.

This will help them to retain all types of customers from the market. Supply chain management indicates the control of raw OZ PAPER HELP

Page 8

materials for production, information related to the production and market situation and necessary finance which circulate from manufacturer to supplier, after then wholesaler, retailer and finally to customers of the business(AydÄąnet al, 2005). This is referred as geographic segmentation of products of an organization.

An organization can segment its market in different ways such as location of the area, city, country, rural or urban area, or suburban area etc. organization can segment its market on the basis of the area’s climate or number of population(Analouiet al, 2003).

OZ PAPER HELP

Page 9