preview

The Marketing Environment And Marketing Mix Of A Firm

Decent Essays

In this report, I have used marketing concepts to analyze the marketing environment and marketing mix of a firm, which has achieved superior performance. I have chosen one of the most famous and oldest retailer in the UK, Marks & Spencer.

Marks & Spencer is one of the best well-known British department stores. It was founded by Michael Marks and Thomas Spencer in 1884 (M&S, 2014). It started as a market stall at Kirkgate Market in Leeds. Nowadays, M&S has transformed to an international multi-channel retailer with 798 stores in UK and 455 international stores (M&S, 2014). According to its annual report this year, it has earned a total revenue of £10.3 billions over the last year. (M&S, 2014)

Basically Marks & Spencer has divided its …show more content…

Therefore Plan A is launched in 2007 (M&S, 2014). It is a plan that promotes ethical trading, environmentally friendly and sustainability. For example under this plan, M&S has developed a programme that trains suppliers with their rights, as well as support some disadvantaged supply chain workers. With the help of Plan A, M&S has established a good relationship with their suppliers and also earn them a place of high rated ethical trading company.

Maintaining good relationship with the suppliers is very important. If one of the suppliers suddenly refuses to supply material to M&S, they can find another suppliers immediately. Therefore M&S has never failed on the supply of materials.

➢ Customers
M&S mainly target the consumer market rather than business and government market. The objective of M&S is not only maximizing their profit, but also increase customer satisfaction and their loyalty. M&S target their customers on the upper class of the society that means people with higher income, and also healthy eaters in the society. Their target customers mostly aim at improving their quality of lives, concerning about the product quality rather than prices. So M&S devote their effort on improving the quality of their products so as to increase customer’s satisfaction. According to Baber Smith, M&S have seen as producing good quality products with good values (Baber Smith, 2009).

Get Access