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Strategic-Marketing-Management. This report is a study of principles of Strategic marketing management by considering Marks and Spencers Clothing business. In this report the Marketing Planning Process has been discussed and the MPP has been applied to

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Introduction

Table of Contents 1. Introduction & Background -------------------------------------------------------------------------------- 3 2. Strategic marketing planning process --------------------------------------------------------------------4 2.1 Assessment of marketing planning ----------------------------------------------------------------4-5 2.2 Marketing Planning process-------------------------------------------------------------------------5 -8 3. External Marketing environment and marketing audit------------------------------------------------8 3.1 External marketing audit -----------------------------------------------------------------------------9-16 3.2 Internal marketing audit----------------------------------------------------------------------------- 17 -24 4. Possible strategic marketing options------------------------------------------------------------24-27 4.1 Option1_Market penetration technique---------------------------------------------------27-28 4.2 Option2_Niche Technique-----------------------------------------------------------------------29 5. Recommendation -------------------------------------------------------------------------------------30 References ---------------------------------------------------------------------- -------------------30-31 1. Introduction and Background This report is a study of principles of Strategic marketing management by considering Marks and Spencer's Clothing business. In this report the Marketing Planning Process has been discussed and the MPP has been applied to assess the possible Strategic marketing strategies to improve the business of Clothing division of Marks and Spencer. Here, we have studied the External and the Internal environment of the Marks and Spencer with the help of available market data and have done Marketing audit with the help of different techniques and analysis Models. Marks and Spencer is one of the leading retailers of UK, with over every 21 million people visiting Stores every week. Company offers high quality, stylish, great value home and clothing products. M&S employs around 75,000 people and have above 600 stores in UK and expanding number of stores worldwide. M&S is number one provider of women's wear and lingerie in the UK, and are having growing market share in menswear, kids wear and home, due in part to their growing online business. Overall, company's clothing and home ware sales account for 49% of our business. 2. Strategic Marketing Planning Process Marketing planning process is the planned application of marketing resources to achieve marketing objectives. It is generally a logical sequence and series of activities leading to the setting of marketing objectives and the formulation of plans for achieving them. Marketing Planning is essential in today's economic scenario because of increasingly hostile and complex environment in which companies operates. There could be various external or the internal factors which can impact the ability of organisation to achieve its goals. ...read more.

Middle

Here, we have assessed the product life cycle and the product portfolio through PLC and BCG matrix. We have also used Porter's value chain analysis to audit the internal environment of the organization, because of difficulty in finding the accurate data; we have made assumptions as well. And in the end we have done the SWOT analysis to determine the strength, weakness, opportunity and threats. Market Data Figure 5. Marks and Spencer's Revenue and Share price Source: http://www.telegraph.co.uk/finance/markets/questor/2819073/Questor-Join-MandSs-latest-drive.html As seen in the chart, 2005-2006 saw the drop in revenues of the company. While, in 2007 onwards company consolidated its position and picked up the growth in revenues and reached � 9.26 m. Figure 6. Source: http://liesdamnedliesstatistics.com/tag/market-share Marks and Spencer had consolidated its share in the online merchandise sales and is steadily growing. However, it has tough competition from established players in the market like Amazon. Michael E. Porter's Value Chain Analysis Michael Porter used 'Value chain' term in his book ''Competitive Advantage: Creating and sustaining superior Performance'' (1985).Value chain analysis basically determines the activities within and around an organization, and relates them to an analysis of the competitive strength of the organization. In his value chain analysis, Porter has considered the organisation's activities in tow segments: Support activities and Primary activities. Primary activities are directly related with the creation and delivery of goods or services. It can be grouped in five main areas: Inbound Logistics, Operations, outbound Logistics, Marketing & Sales and Services. These Primary activities are connected with the Support activities to improve the efficiency of work. The four main areas of Support activities are: Infrastructure, Human Resource Management, Technology Development and Procurement. Diagram: The model of Porter's Value Chain Analysis is as follows: Source: www.12manage.com Application of Porter's Value Chain Analysis on Marks & Spencer Primary Activities * Inbound Logistics: M&S has outsourced its inbound activities to third party vendor. The vendor takes care of all the activities involved in transporting the shipments to various stores. ...read more.

Conclusion

3. Without proper study and analysis of this market, it is very difficult to penetrate it, which means company need to spend considerable time and resources to gather the data related. 5. Recommendation On evaluating the probable strategies ,by considering the Ansoff Model,Porter generic strategy,Penetration Strategy and Niche strategy, we can suggest that the best suitable strategy for Marks and Spencer would be to maintain its Comptetive edge and focus on the Market penetration strategy.Being a brand name, it is already well known in the market so, it is not facing new customers, hence it is easier for the company to focus on this market as it already has a presence and it knows well about the trends and culture prevalent in the market.While, keeping the experience of recession and the maturity of clothing industry of uk ,marks and spencer should also need to venture into the gorwing economies like India,Brazil and China.Company should consolidatde its position as these are countries with fastest growing economies and the buying capacity of consumers have increased .They are also the countries with the largets customer base.To conclude, the recommended marketing strategie for Marks and spencer for the next three years should be Penetration Strategy and the Diversification Strategy. Refrences * Marks and Spencer official website. * http://www.marksandspencer.com/ * marketingteacher.com.(2010).Marketing Audit. [Online] , Available at http://marketingteacher.com/lesson-store/lesson-marketing-audit.html themanager.com.(2010).valuechain .[Online],Available at Source: http://www.themanager.org/models/valuechain.htm * smallbusiness-marketing-plans.com.(2010).Marketing niche strategy .[Online],Available at http://www.smallbusiness-marketing-plans.com/marketing-niche-strategy.html * answers.com.Market penetration.[Online],Available at http://www.answers.com/topic/market-penetration-2 * Malcolm McDonald . (2005) Marketing Plans 5th Edn .Burlington:Elsevier * Philip Kotler,Kevin Lane Keller.(2006).Marketing management.12th Edn.New jersey:Pearson,Prentice Hall * Mintel .(2010) [Online].Available at http://academic.mintel.com/sinatra/oxygen_academic/my_reports/ Euromonitor.2010[Online].Available at http://www.portal.euromonitor.com/Portal/Magazines/Welcome.aspx(Accessed:12 Themanager.com.(2010).porters five forces.[Online],Available at http://www.themanager.org/models/p5f.htm * Valubasedmanagement.net .(2010).BCG Matrix.[Online],Available at http://www.valuebasedmanagement.net/methods_bcgmatrix.html Armstrong&kotler.(2006).Marketing an introduction.8th edn.New jersey:Pearson,Prentice Hall * Angela hatton.(2000).the definitive guide to marketing planning.1st edn.Glasgow:FT Prentice Hall * Geoffrey Randall .(1997).Principles of Marketing.1st Edn.Italy:Thomas business press * Philip Kotler,K.L.Keller,Mairead Brady,M. goodman,T.Hansen .(2009).Marketing Management.1st Edn.Essex:Pearson One ?? ?? ?? ?? Page | 1 ...read more.

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