Marks & Spencer Marketing in the United Kingdom Research Paper

Marks & Spencer Marketing in the United Kingdom - Research Paper Example As a result of this, the customers are naturally becoming more and more demanding in nature with respect to their specific needs for new and innovative products and services. This is in return creating a major pressure in the local markets around the world, and is eventually resulting in the way getting paved for the development of markets that are present in the new and emerging economies. The emergence of new markets in the developing economies is playing a major role in increasing the level of competition in the marketplaces all over the world. In an attempt to attain a significant level of competitive advantage in the global as well as the local marketplace, companies are seriously focusing on the process of generation of value for the consumers while keeping a stringent eye on the quality of the product or service that is being provided and delivered to the customers. This brings into focus the importance of conducting an in-depth analysis of the marketing exercises that are bei ng conducted by some of the highly popular global organizations for the purpose of communicating the value of their products or services to the customers. Hence, in an attempt to understand the process of marketing in a more detailed and enhanced manner, this project has been undertaken. The project is multi-faceted in nature. The first part of the project will focus on the process of researching and understanding of the theories related to marketing orientation and on the various factors related to marketing mix. The next part of the project will draw its focus to selecting a specific organization which has a highly diversified its product portfolio and has its presence in multiple countries and markets around the world. The third part of the project will concentrate on studying the product marketing strategies and campaigns that are applied by the selected organization and simultaneously relating the theoretical concepts for a proper analysis of the successfully executed strategie s of the organization. Theoretical Representation Marketing Marketing is a broad term that is used in the context of creating, distributing, communicating and generating value for the customers of a particular segment, in a specific locality, region or marketplace. In broader terms, it is highlighted as a part of the overall process of organizational management that involves identifying, understanding, estimating and finally fulfilling the customers’ needs and wants while effectively utilizing the available resources like manpower, finance etc. That belongs to the firm or the organization. It can be said that, by fulfilling the needs of the customers of a specific market, the companies focus on generating financial returns for the firm, which, in turn, helps to attain sustainable growth in the long term (Wright, 1999, p.13-14). Marketing Orientation It can be said that the marketing approach is a style or approach that is practiced a great deal in the process of value communi cation exercises conducted by the firms today. It is important to state that the marketing