There are different elements of marketing process such as marketing mix strategy, targeting strategy, market segmentation and product positioning. Market segmentation is used to identify the different segments of consumers with respect to different product line (Kotler, 2008). Targeting strategy is used to recognize the target audience for the particular products. Product positioning is used to identify the region in which the products will compete in a market place. These different elements of marketing process are elaborated in this study in order to understand managing marketing. Introduction Effective marketing strategies and marketing principles increase the core competency of an organization. UK is known for the leading fashion retail chains. Leading companies like Zara, Top Shop, Marks & Spencer, and Miss Sixty are the leading fashion retails in UK (Moore, Bruce and Birtwistle, 2012). Marks & Spencer, the large UK based fashion retailer is being selected in order to achieve the objective of the study. Marks & Spencer is one of the leading multinational fashion retail headquartered in London. In UK the organization operates with 718 retail outlets. Moreover they have near about 361 fashion retail outlets in 40 countries. Marks & Spencer offers high quality, fashionable and stylish outfits for people. 2000 global suppliers supply cloths for Marks & Spencer. Representing garments of high quality is the biggest strength of this organization. The fashion retail chain is the leading provider of Women wear in UK market. Moreover, the company is gaining high market share in menswear and kids-wear. Apart from business the organization has engaged with several social welfare activities. Marks & Spencer recycles the water, solid waste and concentrates on the reduction of carbon emission in environment by implementing the effective five year eco plan for organization’s green credential. . By providing effective marketing strategy and product of high quality with effective customer services, Marks & Spencer has able to produce enormous number of footfall every week. It is the major achievement for the company as a leading fashion retail chain in global market. Marks & Spencer enjoys the advantages of more than 21 million footfalls every week in all the retail outlets. The study will reveal the market segmentation, target marketing and the marketing mix that has been applied in the business of Marks & Spencer. Moreover, the study will determine the competitive advantages of the organization. Followed by these some valuable recommendation plans are being provided in order to overcome the Managing marketing issues. Finally the study ends with conclusion. Problem Statement and issues in Managing Marketing The study is all about the issues related to the marketing orientation and recommendation plans in order to overcome those issues. The problems or the risk factors are identified below. The risk of failure in terms of newly developed products. In adequate customer service, marketing orientation and query controlling may affect the business performances. Difference between Product and Service Marketing Product marketing can be defined as marketing of tangible goods, which can be felt or seen while service marketing defines the marketing of intangible goods (Bhattacharya, 2009). Service marketing may differ from a person to person while marketing of product is
Understanding the Concepts Involved in Managing Marketing Executive Summary The leading organizations in global market are trying to capitalize on the advantages that have been created due to globalization. In this present era of globalization the companies are trying to implement advanced technology in order to increase their core competency and business outputs…
The aim of the study is to shed light on the marketing strategy of Mintel and to offer them recommendations for restructuring their marketing mix. The target customer group of the company is the family unit hence in order to cater to that segment product strategy is highly focused.
Financial ratios are tools used in large, medium and small size businesses to evaluate their financial performance and progress by looking on their income statements, as well as statement of financial position in comparing current and previous performance (New South Wales Government, 2012).The most common financial ratios used by small business include: solvency ratios, profitability ratios and liquidity ratios to name just but a few.
The bank currently offers a wide array of banking services like online banking, online trading, and trust online services. From opening and maintaining a savings and checking accounts, payments of bills, trading of stocks and other investment tools, People's bank offers online support and services to its customer (People's Bank 2005).
Discounted cash flows minus the investment cost are equivalent to the NPV. It is worth noting that when NPV is equal to zero the project has enough cash to pay its debts and equity, which was invested in the project. On the other hand, if the NPV is positive, it
One major reason for employee training is the rapid changes in the work environment that limits performance within the organization. Each day, the working conditions change and the employees have to adjust to these changes if they have to
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