An Analysis into the Importance of Advertising in the Retail Industry (2012)
The retail industry has undergone rapid and major changes during the past two decades providing ongoing challenges to many retailers such as Marks and Spencer. To combat this, organisations such as Marks and Spencer are forced to assess and change their business models to accommodate modernisation, stiff competition and difficult economic conditions. Most of these changes have brought competition affecting the nature and performance of various retailers in the UK as well as abroad; the media inspired by technology has changed the nature in which retailers reach consumers with developments such as advertising products and services on internet. Changes in economy as well as society lifestyle where by consumers demand and expect more from the sellers force retailers to further improve the quality of their respective products and services even better ways of communicating with these consumers so they can respond quick and buy their stuff amid of the highly competitive tensed retail environment. Advertising has the potential to increase consumer’s awareness through information making them acknowledge product offerings as well as other important updates that will be beneficial to the public. However, this will largely depend on strategies used in advertising which determine the rate upon which the consumers or the public will respond, meaning if done poorly, it will be costly and lead to losses instead of financial gains arising increasing sales and profits that can be inspired with the influence of advertising. The literature review and questionnaires played a vital role in gathering necessary information to find out how Marks and Spencer will benefit from its advertising campaign as well as the cost, constraints and responses from participants. The key objectives of this dissertation are to address Marks and Spencer decision to invest in advertising and the reasons will be explained in detailed manner to examine whether;
- Is it necessary for Marks and Spencer to invest and rely in advertising for future growth and success?
- Whether its image and reputation can be polished by effective advertising
- How advertising can increase awareness of retail’s products and services?
- Whether advertising can help reduce competition?
- To find out if advertisement can boost sales and profits?
- The role of advertising in consumer awareness
- If advertisement can be used as an educative element.
- 16,000 words – 70 pages in length
- Good use of literature
- Good in depth analysis
- Well written throughout
- Includes questionnaire
- Ideal for marketing and business students
Economies of scale
Strong brand relationship
Introduction and Background
Research and Objectives
2: Critical Literature Review
Porter 5 forces
What is the aim and importance of advertising to Marks and Spencer?
Communication and Information
Demand and sales
3: Research Methodology
Reliability of questionnaires
Validity of questionnaires
Reliability, validity and limitations of sampling
Limitations of sampling
4: Findings and Data Analysis
Microsoft excel data presentation
5: Recommendations and Conclusion
References & Bibliography