Marketing Essay Example | Topics and Well Written Essays - 2000 words - 15

Marketing - Essay ExampleBy analyzing the current business dapple of M&S, it will be possible for one to determine if the fraternity should revise its way of luck customers, the way of market segmentation, or split its products into various target markets Macro factors that affect M&S These are the external factors that hurt an indirect impact on any company. They include the semipolitical, social, technological, economical, and legal entities. For instance, in the legal entity, the government of UK has brought in energy saving organizations like Green Tax and Change charge on the use of energy to lessen carbon dioxide by 30% and distributed subsidies to make improvements on subsidies. This has moved(p) M&S positively in such a way that the company has been forced to despatch an incentive policy in which stores can maintain the value of 15% of all savings it makes and supra its moves. The move helps the company to save about 10% of its energy (Moiz, 2010). Micro Factors Marke ting management is compel to attract customers and set up good relationships with them by initiating the satisfaction and worth of their preferences. Nevertheless, market practices are involve to focus on the needs of the targeted consumers and also the need to recognize the impact of micro factors that include Products M&S deals in clothing, house appliances, food, footwear, and gifts. When providing these goods and services, they have to focus on the spirit, trust, innovate, and values given to its potential customers. Customers The company lives to the policy that customers are the most vital element to be considered and understood because they determine its future and success. M&S appreciates that customer satisfaction comes first before the product sales and thus gives high flavour products and good services in order to raise the loyalty of its consumes. Markets M&S possessed stores in Hong Kong and Ireland, including 131 franchises food in 28 nations operating via a network of thriving partnerships. It has recently opened a new market in Kirkgate, Leeds. Another coffee and heritage shop has been ceremonious right on board the popular M&S clock in Kirkmarket. The retail environment however remains to be a challenge in the UK and other international regions. M&S has to take a timbre with regard to this factor by staying true to its values, listening to its potential clients, and constantly executing its strategy so ha the business can be stronger. Competitors While M&S focuses its operations on h quality of goods and services, its chief competitors, Tesco and Sainsbury focus theirs on the breadth of range, quality, and convenience. This company has a number of competitive advantages that have been in existence for a long time now. They include a recognizable brand name, and a stable supply connection. Specifically, M&S has its own exercise tight and market testing quality control. The great part of its operations is that it has kept customer loyalty a s compared to its competitors. However, the worry is that Tesco and Sainsbury have established their stores globally as opposed to M&S, and thus the company has to check on this drawback (Moiz, 2010). The PEST modeling analysis Definition This is a tool widely used o help in analyzing the social-cultural, economical, technological, and political changes in a given organizational environment. With the PEST analysis, one can get a