Case Study: Strategic Marketing Plan For M&S
Case Study: Strategic Marketing Plan For M&S
Case Study: Strategic Marketing Plan For M&S
STRATEGIC
MARKETING
REPORT
EXECUTIVE
SUMMARY
The root cause of mostly all the problems M&S is facing is the
fact that they do not have their target market clear. Their
annual reports mentions that their primary customers are
females over 45 years of age, but their product range in the
stores state something else. They are still very confused
between dealing with high fashion or daily wear. Other factor
that is dragging M&S down is their resistance to adopt new
technologies early on and integrating those in their operations.
Their online business is very slow because the loading time of
their website is high.
EXECUTIVE
S U M M A R Y cont.
Where its competitors like NEXT, Asos, Zara etc. are very active
in updating their style and inventory, M&S is stuck behind on
the trend race. By sculpting a clear target market and
demographic they could focus on their core business while
reducing or closing the businesses that cost more than what
they earn. Updating their online platforms weather, it be their
website or social media is of utmost importance. Engagement
rate of NEXT and Asos are through the roof, while M&S gets
around half of the rave online. Introducing innovative products
like exclusive merch, vegan, dairy-free food range could also
help spark up the excitement. Taking a leap from traditional
marketing towards social and experiential marketing will also
work in their favor. I believe focusing on sustainable, ethical
sourcing and packaging of their products can also give them an
edge against the competitors.
Marks and Spencer have lost their core identity somewhere
along the way trying to be something for everyone, I believe it’s
time for M&S to go back to their roots and position itself as the
go-to brand for its demographic in the market it operates in by
using some of the suggestions made in this report.
BACKGROUND
AND PROBLEM
IDENTIFICATION
Marks and Spencer is a brand that has been here for around
138 years now. Starting as a small business in Leeds, England, it
has now become a global brand. When looked broadly, it is a
global brand, but when looking into its operations more
minutely, its not performing well within many markets due to its
short- sightedness, along with many other factors.
PROBLEM ONE:
No clear target audience
The biggest hurdle that M&S is facing right now is that of not
having a clear target demographic. Their product range, in
the clothing context, is so diverse and unrelated that it is not
able to attract and retain any one demographic. Their
current customer base consists of around 72% females and
28% males. Even though their customer population is
relatively older (with around 30%, 45 and above), their
product range sometimes offers hideous designs and very
bold colors which does not attract its primary customers.
Out of the 72% female customers around 25% of those
females are 55+ and with M&S primarily focusing on their
needs for functionality, it is losing out on 47% of younger
population.
The price range for their different businesses is also not
cohesive, making the customer more confused. M&S is trying to
do something for every demographic which is making them not
able to excel in any of them. By sculpting out a more focused
and detailed market segment, they could increase their profits
relatively.
PROBLEM TWO:
Technological Resistance
PROBLEM THREE:
Product Innovation and wider variety
With all the ups and downs M&S have been through, with its
clothing business in particular, they have lost their identity
of being the traditional British brand that they once use to
enjoy. After they cut ties with their British manufactures in
1991, the brand has been seen in the same light as the other
fast-fashion brands in the market. Even after some 20+
years, they’re still stuck in the same dilemma of high fashion
or trendy staples, young or old, which they were stuck in
before. By trying to do everything, they’ve lost their
creditability in the market and has given way to a very
confused customer base. People are confused weather they
sell high end clothes or daily wear cheap stuff, weather
they’ll find stuff for the mother or the children, M&S needs
to focus its attention on one thing and do it well. They need
to get their brand story correct and into people’s minds.
Strategic Pathways M&S could follow to solve the
aforementioned issues:
CONCLUSION
Marks and Spencer being a well renowned brand enjoys
some benefits from loyal customers, but it is not to be
neglected that recently, sales are going down. There are
many factors which affect this, and M&S is doing what it can
to overcome those. I suggest some pathways that they can
follow to increase their market share and attract more
customers than before. By changing up their marketing
strategy to add elements of experiential and social marketing
into it, along with other operational changes, they could once
again capture the market slowly but surely.