Mark & Spencer: Marketing And Segmentation Process Of Mark And Spencer

| According to the text, market segmentation is defined as identifying groups of consumers based on their common needs.Answer

Technology is very important in the retail market. In order to grow your business, make their business more secure and complete with the competitors, Marks and Spencer has to move along with the new technology. To do this they must manage their brands carefully. Major brand marketers often spend huge amounts on

Marketing and promotion: The aggressive marketing and promotion is strength to the company from several years. It has implemented many successful advertising and promotional strategies over the time which includes new format of UK stores “Brighter look”, “Your M&S” slogan, “Quality worth every penny” etc.

What Is Market Segmentation? Market segmentation is a way of dividing the market into groups of consumers/customers which share similar features

According to Horner and Swarbrooke (2005: 39), Segmentation may be defined as the process of dividing a whole market into subgroups or segments for marketing management purposes. Market segmentation is the division of the overall market for a service into various categories with common characteristics. In response to different segments, organisations facilitate the available resources to achieve greater efficiency, in order to satisfy specific needs of customers.

Market segmentation: The process of dividing a market into distinct groups of buyers who might require separate production or marketing mixes (Wells, Burnett, & Moriarty, 2006).

Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs and applications

- Marketing Segmentation: is the process that companies use to divide large heterogeneous markets into small markets that can be reached more efficiently and effectively with products and services that match

Marks & Spencer is a British retailer with over 800 stores in more than 30 countries around the world. It is the largest clothing retailer in the UK, aswell as being a food retailer. Most of it’s domestic stores sell both clothing & food, and since the year 2000 Marks & Spencer have started to expand into other ranges

• M&S is always located in a busy high street due to many shoppers (Study Mode, 2014).

Marks and Spencer are a well-known brand of retailers around the world. What made them famous in over 125 years are their core values which are: Quality, Value, Service, Innovation and Trust. They started out in England but soon spread around Europe. They are making their expansion into the Asian market and have so far been successful with opening multiple branches in Malaysia, Philippines and Indonesia. Marks and Spencer provide well over 70,000 items which includes clothing, advertising, packing designs, homewares and company documents. They are most well known for their clothing line

Marks & Spencer was constituted in 1884, as vendor stall in the streets of Leeds. It is a public limited company, which listed on the London stock exchange. It is a major British Multinational retailer. It produces clothing, home products and food items. The market share of Marks & Spencer is 10.4% in 2015 and over the years it has decreased because of the intense competition faced by the company. The headquarters is in London. The revenue of Marks & Spencer in 2015 is £10.3 billion; operating income was $762.5 million, while the profit generated by Marks & Spencer in this year was $481.7 million. Marks & Spencer is operating all over the world and they employee over 83000 people. In 1998, the company became the first British retailer to make a pre-tax profit of over £1 billion. It is one of the famous brands in UK and all over the world. M&S have 852 stores throughout the UK, as well as many international stores. It has one of the largest retail outlets all over the world.

Market segmentation is an approach used by a company to select their target market and provide data for a marketing plan. “Market segmentation consist of a two-step process; naming broad product markets and segmenting these broad products-markets in order to select target markets and develop suitable marketing mixes” (Perreault, Cannon, & McCarthy, 2014, p.97). There are 4 categories pertaining to market segmentation; behavioral, geographic, demographic, and behavioral.

Market segmentation was to dividing a market into distinct groups of buyers with different needs, charactistics or behaviour who might require separate products or marketing mixes, the company will first

Marketing has become vital ingredient for every business success. It has almost become difficult for every competitor to survive in market for a prolonged period because competition is cut to throat. That is why development of right marketing strategy over time is required. Right marketing strategy is something that helps companies to achieve marketing objectives. The strategy of dividing the market in homogenous group is known as segmentation. Market segmentation was first put forward in the middle of 1950s by Wendell.R.Smith, an American professor of marketing. “Market segmentation is to divide a market into smaller groups of buyers with distinct