TASK 1 3
KA YEUNG LAU
GROUP 1
Introduction
Marks and Spencer（also know as M&S）is the UK's largest transnational retail group. It is also one of the British representative enterprise, it has highest profitability in UK. Marks and Spencer also ranks first in the number of export goods retailers in UK. Their products include: food, clothes, furniture, electrical and appliances. Marks and Spencer opened 600 stores in the British, and across the UK each city and area, the 40 countries in the world were opened 285 stores.
MARKETING OUTLINE OF A SELECTED ORGANISZTION
1.1) Marketing process
Every company has they own marketing concept. Base on this concept, company should be meeting customer needs and providing customer satisfaction. In this case, I will through analysis Marks and Spencer (M&S) to explain the various elements of the marketing process.
Market segmentation is one of the important concepts of corporate marketing, because of customers have difference need and want. Market segments can more easily formulate business strategy.
The company maybe consider the following factors to do the market analysis, such as family status, income, lifestyle, gender etc. Marks and Spencer segment of the market in order to meet the target market, they have following brands of men’s wear: SAVILE ROW INSPIRED and AUTOGRAPH (high quality suit); COLLEZIONE and M&S COLLECTION (general price suit)； BLUE HARBOUR and NORTH COAST (casual wear). It is more convenient for management and consumers can easily identify the products.
At the same time, the company must decided the target market. The product can not satisfy all consumers, so companies will choose the market targets. Marks and Spencer‘s consumers group is older people, and they have middle and upper income. Their product’s materials, prices and tailor are suitable for this group of consumer. The ‘Best of British’ pure wool suit in the shop are priced high. They do not worry about the pricing problems, just do the best quality product
GROUP 1
Introduction
Marks and Spencer（also know as M&S）is the UK's largest transnational retail group. It is also one of the British representative enterprise, it has highest profitability in UK. Marks and Spencer also ranks first in the number of export goods retailers in UK. Their products include: food, clothes, furniture, electrical and appliances. Marks and Spencer opened 600 stores in the British, and across the UK each city and area, the 40 countries in the world were opened 285 stores.
MARKETING OUTLINE OF A SELECTED ORGANISZTION
1.1) Marketing process
Every company has they own marketing concept. Base on this concept, company should be meeting customer needs and providing customer satisfaction. In this case, I will through analysis Marks and Spencer (M&S) to explain the various elements of the marketing process.
Market segmentation is one of the important concepts of corporate marketing, because of customers have difference need and want. Market segments can more easily formulate business strategy.
The company maybe consider the following factors to do the market analysis, such as family status, income, lifestyle, gender etc. Marks and Spencer segment of the market in order to meet the target market, they have following brands of men’s wear: SAVILE ROW INSPIRED and AUTOGRAPH (high quality suit); COLLEZIONE and M&S COLLECTION (general price suit)； BLUE HARBOUR and NORTH COAST (casual wear). It is more convenient for management and consumers can easily identify the products.
At the same time, the company must decided the target market. The product can not satisfy all consumers, so companies will choose the market targets. Marks and Spencer‘s consumers group is older people, and they have middle and upper income. Their product’s materials, prices and tailor are suitable for this group of consumer. The ‘Best of British’ pure wool suit in the shop are priced high. They do not worry about the pricing problems, just do the best quality product