Marks and spencer marketing mix for one segment

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Marks and spencer marketing mix for one segment

It is due no later than the 6th May The plan is an expansion of a previously constructed development analysis of the country. The main focus is to create a successful strategy with regard to the marketing mix, which is to be supported by clear, SMART objectives and tactics that can be applied to the international move to Russia.

The company must closely monitor and evaluate its performance to see how appropriate the implemented strategy has benefited the company, and also in order to take advantage Marks and spencer marketing mix for one segment opportunities and prevent any possible threats.

Russia represents potentially the largest consumer market in Europe with a population of million, mainly concentrated in Moscow and St Petersburg. However, the Russian market has traditionally been viewed as risky due to economic and politic instability and high level of corruption.

Since the crisis ofthe level of foreign investment has increased and the retail sector has been booming due to a new generation of more affluent and more demanding Russian consumer.

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The retail infrastructure is developing fast in the major cities of Moscow and St Petersburg, where the competition is the highest. Besides, the government is making efforts to attract investors and to modernize the retail sector, with less strict customs and tax systems for foreign investment and measures to tackle the corruption Mintel, The low level of development of the Russian retail sector means that there is not a single retailer that has managed to build a significant market share over the years.

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However, eight of the top ten retailers are domestic companies. Eldorado and Pyaterochka are the largest, then Magnit, Mvideo and Euroset. However, it seems that the industry and its players are constantly changing.

The development of the Russian market is developing in such a way that Western retailers have the opportunity to take or buy out local players who are looking for more funding instead of following a Greenfield strategy.

Currently, the foreign retailer that has the largest presence in the Russia is the German group, Metro. Therefore the marketing strategy should be focused on concentrated target marketing.

In other words the marketing mix should be diversified to reach a niche market; targeting the upscale, prestige segment by offering excellent food products and services Sirkeci Please refer to Appendix for a detailed outlook of the customer analysis. Continue to invest in and grow our core UK retail business, by introducing new goods and services.

Strengthen our UK property portfolio. Expand our International business. Their corporate objectives serve the more basic goal of long-term survival.

Strategy We will be focusing on their objective of expanding internationally, but will make sure that the strategy followed respects the overall corporate objectives.

Marks and spencer marketing mix for one segment

Marks and Spencer are expanding their business towards Eastern Europe through a franchising mode of entry. Marks and Spencer as part of their new plan are encouraging when entering new markets investment from their own capital rather than a franchising model.

However, the company still supplies their international stores from their UK distribution centers.

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In order to make the overall operations cost and time efficient in the longer term Marks and Spencer will have to create supplier relationships and open logistics in Russia. Opening 20 stores in Russia at best locations within the next two years. Strategy expanding the range of food we sell in all of our stores improving the value and quality of our lines maintaining our lead on innovation and quality enhancing our store experience and hospitality offers Marks and Spencer website, Marketing and Promotional Objectives: They used franchising as an entry mode for almost every country ignoring the different culture and demand patterns.

However they have not always been successful with this approach. Therefore they should use the strategy rule approach and carefully compare and evaluate all alternatives before choosing an entry mode.

Sirkeci et al argues that four factors my influence the entry mode decision: Firm size desired mode characteristics transaction-specific behaviour An internal factor could be the firm size, meaning if the company has enough resources available to invest them in the foreign market.

Therefore a high control entry mode hierarchical mode for example brown or greenfield acquisition should be chosen. In terms of the county, Russia might be seen as a risky due their political and economical situation.

Moreover, this strategy will follow the overall corporate objectives that Marks and Spencer have set regarding the increase in investing their own capital rather than following a franchising entry mode. However, such entry modes that require minimal levels of resource commitment and hence minimal risks are unlikely to enhance the development of international operations and may result in significant loss of opportunity Sirkeci et all,p.

They decided to modify nationally and internationally their marketing by modernizing their stores.Markets, Brand Positioning and the four elements of the Marketing Mix.

Despite Marks & Spencer’s problems, the company still retains a loyal customer base and owing to their old customer base they will benefit from the aging population of UK.

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