Price, Product, Promotion and Place.
In a recent seminar for an introduction task we were asked to analyse Marks and Spencer in relation to the marketing mix.
Mission Statement: "We offer stylish, high quality, great value clothing and home products, as well as outstanding quality foods, responsibly sourced from around 2,000 suppliers globally. We employ over 78,000 people in the UK and abroad, and have over 700 UK stores, plus an expanding international business."
Promotion: Marks and Spencer use celebrity endorsement very well. Rosie Huntingdon Whitely has recently launched a luxurious lingerie range. Take That, Lily Cole and Twiggy have also been featured in TV and magazine ads. Marks & Spencer advertising is well constructed and the consumer instantly knows it's related to the brand, they use promotion and the reliability of their brand to deliver a strong marketing promise.
Product: M&S offer many products, almost like a department store- they have thousands of lines covering children's wear to home wear. It's a fundamentally reliable, trustworthy, good value product. In our group we discussed that although the brand tries to cover all age ranges they seem to distinctively lack a range for young women, this is something that they could possibly try to improve by focusing on introducing something new for younger adults.
Price: The product is marketed at a mid-price range. Its re known for it's high quality and reliability. They could maybe consider introducing student discounts or offers to entice a new type of consumer to shop in store. They pride themselves for being the number one provider of womenswear and lingerie in the UK, offering stylish alternatives to the majority of the high street.
Place: Marks & Spencer's stores are usually found on the High Street however they also have super stores outside of city centres and outlets to match this. It is an international brand with stores in over thirty different countries and 703 stores on the High Street and UK retail parks. They have a vast online presence with an easy-to-use website and an app so you can shop on the go and allows them to market themselves to a wider market.
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