Marks and Spencer Marketing Mix: Marks and Spencer, commonly called M&S, is a public limited company of British origin. It is associated with lifestyle and Retail since it operates in the retail sector. The renowned company was established in 1884 by the founding partners Thomas Spencer and Sir Michael Marks.
Marketing Mix Of Marks and Spencer
Marketing Mix Of Marks and Spencer is brand-based. In Marketing Mix Of Marks and Spencer, We will Learn About the four key elements of Marketing Mix: products, place, price, and Promotions. By paying attention to the following four components of the marketing mix, a business can maximize its chances of a product being recognized and bought by customers. We will be discussing Marks and Spencer Marketing Mix. Below is the detailed Marketing Mix Of Marks and Spencer.
Let’s talk about Marks and Spencer Marketing Mix.
Marks and Spencer Main Competitors
Marks and Spencer’s official website: www.marksandspencer.com
Product in the Marks and Spencer Marketing Mix:
Marks and Spencer believe in environmentally friendly products and fair trade merchandise and has committed itself to achieving it. It offers a diverse range of products collection, which includes
- Apparel – Jackets, coats, trousers, t-shirts, tops, swimming wear, beachwear, sportswear, suits, workwear, and shorts. Tops, shirts, leggings, and cardigans. Jeans and jumpers
- Accessories such as watches, jewelry, and purses
- Shoes, slippers, sandals, boots, and slippers
- Lingerie camisoles, vests thermals, form wear, slips, evening dresses, bodysuits, general Knickers, T-shirt bra sporting bras, bra strapless post-surgery bras, baby bras, the first bra, the DD+ bra, bracelets
- Footwear – Socks, slippers, and shoes
- Nightwear- Dressing gowns with pajamas, dresses, and nightwear
- Formalwear- Suits, custom jackets, blazers, shirts, formal trousers, and formal shirts
- ApparelPolos, t-shirts, tops, shorts, swimwear, cardigans, Joggers, jumpers, jackets, jeans, coats, chinos, casual clothes, and casual trousers
- Accessories such as ties, wallets, luggage, briefcases, and bags
- School uniforms for girls and boys.
- Girls- Dresses, jumpsuits, underwear, shorts, pants, t-shirts, tops, swimwear socks, tights, and dressing gowns. Pyjamas shoes, slippers, boots, and shoes
- Boys- underwear, shorts, T-shirts, trousers, socks, swimwear, dressing dresses, slippers, pajamas, boots, shoes, and suits
- Skincare Toners, night creams, exfoliators, serums, day creams, and eye-care
- Make-up: Polish for nails, lipstick, and foundation
- Hair care – Conditioner and shampoo
- Toiletries- Soaps and moisturizer Hand-wash, hand cream shower gel, and bath gel
- Accessories- Artificial flowers, candles, curtains, cushions and lighting, mirror vase, figurines, carpets, and ornaments
- Towels for Bath and Bed Mats for bathing, children’s bedding, and bedding
- Dining and cooking table linen Serve-ware, glassware cutting-edge, dinnerware baking and cookware
- Bags for travel and luggage
- Sofas, love seat armchairs, footstools, TV cabinets, table for side bookcases, console table, dining table, dining chair, and display cabinet.
- White wine, red wine, wine rose sparkling, champagne, cava, and sparkling
- Cakes Fruit, cold meat, cakes desserts, fish, desserts, and cheese
- Flower bouquets, premium flowers, and orchids, as well as outdoor plants orchids, indoor plant
Place in the Marks and Spencer Marketing Mix:
Marks and Spencer have spread its reach throughout its marketplace to include countries such as Egypt, Spain, Qatar, Jordan, Morocco, Finland, Ireland, Kabul, Canada, France, Germany, Belgium, China, India, and Austria. It is a multi-national retailer with its main office in the City of Westminster in London.
The company has opened outposts overseas in Sri Lanka, Indonesia, Italy, China, Turkey, Bangladesh, India, Thailand, Hong Kong, and Malaysia. In the United Kingdom, it operates through ninety-seven outlets. Recently, its number of outlets overseas has surpassed one thousand. In India, the country began its operations in 2001 and now has over fifty outlets to sell its goods.
Marks and Spencer sells its products through its stores which are carefully chosen to maximize brand exposure and attract customers. The outlets are stylishly decorated to provide a relaxing environment. In the final quarter of 2017, the company was home to eighty-four million nine hundred and thirty-nine employees, who provided the highest quality services to customers.
In 1999 the business introduced its online shopping site at first. Since then, customers can buy items and avail of the delivery service at home. The stores online offer the possibility of purchasing in local currency that will meet the buyer’s requirements.
Price in the Marketing Mix Of Marks and Spencer:
At the end of the 2017 financial year, Marks and Spencer posted its net income and revenue as 10,622.0 million pounds and 115.7 million pounds, respectively. The operating profit totaled 690.6 million pounds.
Marks and Spencer have its brand of apparel. It targets the middle and upper-class segments of society. Its products are considered to be worth the money due to their wide assortment, convenience, and high quality.
The company owns its brand in-house for clothes designed to be worn by all ages, including women, men, and kids. These are top quality, but the company’s prices have been kept in the middle to high-end range. Marks and Spencer face rivalry in the market for consumer goods. Strong competition can mean smaller demand shares, and to boost its market share, the company has implemented a price-competitive policy.
Marks and Spencer have adopted the latest price policy. It offers discounts and incentives to customers during the holiday and off seasons and during the seasonal season. This creates a two-way gain. The company can get rid of its old stock, and the incentive programs help to achieve higher sales figures.
Promotions in the Marks and Spencer Marketing Mix:
Marks and Spencer believe in its full-on marketing policies and has embraced every available tool. It has implemented both above-the-line and below-the-line strategies to increase its visibility. The company has carefully selected its ads and displayed them on digital, print, and other media. Advertisements are featured in newspapers, magazines, radio, TV channels, billboards, hoardings, and billboards.
Marks and Spencer has an in-store strategy that helps to promote its products through its outlets. The company’s preferred medium for promotional advertising is on the internet, and it promotes its products extensively on its website. Information about the product, promotions, and related information are posted on the site regularly. The official website also announces news of discounts, promotions, and discounts.
Marks and Spencer has a loyalty program called Sparks which keeps adding points to customers’ accounts. This is determined by the number of purchases the client has made. Rewards points are earned and then used to make purchases. The company is committed to charitable causes and actively participates in various charitable occasions. In 2015, the company created the Spark Something Good event, where volunteers helped with various charitable organizations.
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