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Strategic Marketing Master - Essay Example

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Strategic Marketing Master

At present, it is unclear whether Marks and Spencer has an established market. Also, it is evident that the products of the firm are still far from establishing a permanent image in the minds of the consumers. It is important to segment the market and decide a particular group that will serve as the target market. Moreover, the marketing team needs to reconcile the attributes of products perceived to be ideal by the consumers and the attributes of the products as developed by the company.
The other marketing initiatives necessitate the identification of the price, promotion, product, and place. Mixing these aspects will improve the marketing strategies of the company. It is imperative that Marks and Spencer needs to take advantage of its strengths and limit the negative effects of its weaknesses. Marketing ideas have to be done using creativity with the inclination to use the fundamental tools and concepts.
In viewing the resources of the company, it is important to determine the assets that Marks and Spencer have at present. Although the data only provides consolidated assets, it is sufficient to define the capacity of the company to improve its performance. Overall, the assets of the company are higher than the total liabilities. The net assets of the company have increased from 2005 to 2006. ...
This is in references to the responsible food sourcing that the company adopts. The supplies of the company are considered as one of its valuable resources. Because of its outstanding food production materials, the quality of the finished products has improved. Boosting the food with the finest inputs allow the company to effectively satisfy the needs of the consumers. Subsequently, the quality sources also make the company more cost-effective.
Another important resource of the company is its identity. This is established through the brand name of Marks and Spencer. Despite some criticisms, the brand has the gained the distinction of being the most trusted retailer in UK. Over the years, the brand name has been embraced in different areas of the world. The credibility of the company is one of its intangible resources that deserved to be recognised.
Moreover, Marks and Spencer greatly depend on its employees for positive results. Indeed, the performance of the workers will influence the success of the firm. Marks and Spencer boasts a workforce loaded with competency and talent. The hiring system of the company ensures that the best are selected at the end of the process. Also, the company provides comprehensive training programs to continuously equip the employees with the skills needed in the industry. Definitely, Marks and Spencer manages the growth of the employees and enhances the overall capacity of the workers to be contributors and difference makers.
Among the physical resources of the company, the stores are regarded as one of the finest. The stores of Marks and Spencer are uniquely designed and created to capture the imagination of the customers. Unlike conventional food stores, the stores of the company ...Show more

Summary

Marks and Spencer has been regarded as one of the most recognisable brand names in the world. In UK, the company has the reputation of being "the most trusted retailer." These exemplary remarks given to Marks and Spencer are only part of the big picture. Indeed, the desire of the company to become the leader in the industry has transformed the organisation differently…
Author : ferne44
Strategic Marketing Master Essay essay example
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