This report provides a Market Audit of Mark & Spencer’s company, involving company strategies and challenges, market segmentation, consumer behaviour, market research, business environment, Ansoff Matrix and Marketing Mix.
, 1.0 Introduction
A market audit is defined as a systematic, critical and neutral process of review the
business environment and marketing operations. This is fundamental in planning market
process end a piece of essential evidence for understanding clear the current market
positions, the nature of environmental opportunities and threats, and ability to deal with
environmental demands. (Willson,2004) This report aims to provide a Market Audit of
Mark & Spencer’ company, involving company strategies and challenges, market
segmentation, consumer behaviour, market research, business environment, Ansoff
Matrix and Marketing Mix. The audit has a role to see the Mark&Spencer marketing
capability and their performance in the Market.
2.0 Current marketing Strategies and challenging in Marks & Spencer ‘company
Armstrong et all ( 2019) defines Marketing as the collective and professional process
where individuals and companies achieve what they need and want by generating and
swapping value with others. Is the process where companies connect consumers and
create strong relationships with them.
Market strategy implies to a company's plan to reach potential consumers and turn them
into customers for their products or services. A marketing strategy includes the company's
value proposition, important brand messages, data on target consumer demographics, and
other key elements. A detailed marketing strategy involves the 4 Ps of marketing:
product, price, place, and promotion. (Barone,2021)
M&S is a leading British retailer which sells food, clothing and homeware in 62
international markets and 1519 stores globally and 50 international websites. Much more
they offer services as financial and energy. The M&S company current strategy is to build
a sustainable future, their products have a positive impact on the well-being of people and
the protection of the planet. The next stage is to create a perfect single face for the
consumer to become ‘’omni-channel’’. The company is older than other competitors, it
has 137 years old in the market. Their strategy is to relocate the stores that are loss-
making and investing in relocations, flagships stores and digital capacity. It offers a large
products range, improved layout and online services like Click & Collect, Ocado online
grocery retail platform, cars spaces parking and café. The most profound strategy was the
substantial shift to online and digital, the integration of Clothing & Home online and data
business.
Covid pandemic misleading the trading and operations in all business of the company.
During the pandemic the company closed the majority of floor space and even the food
large parts of the business have been powerless to manage, financially was unproductive,
the company people did not receive any bonus, any payment increase in 2020 and any
dividend. The lockdowns and have speeded up changes in the market for the markets that
were previously slow productively. The Brexit increase the costs to trade the business in
the UE and Northern Ireland. Introduction the innovation of technology in-store channel
made the company work more flexible and faster but at the same time in a reduction of
colleagues, 8000 of people left the company.
2
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