Magazine article Marketing

Marketing Society Awards for Excellence: Grand Prix

Magazine article Marketing

Marketing Society Awards for Excellence: Grand Prix

Article excerpt

WINNER

The judges award the Grand Prix for the best demonstration of marketing excellence in 2006. This is not simply the best of the winning campaigns; it is the activity that has done most to showcase what marketing can offer, with a clear focus on return on investment.

For this reason, the runaway winner from this year's entries was Marks & Spencer. The judges overwhelmingly concluded that this campaign, and the breathtaking recovery the store has made under chief executive Stuart Rose and executive marketing director Steven Sharp, provided the leading example of marketing at work.

To appreciate how effective this work has been, one need only look at the company's share price. In July 2004, Philip Green's Revival Acquisitions offered 400p per share for M&S - a price that tempted plenty of shareholders. At the end of 2006, the M&S share price was near 600p.

It is the story of how a much-loved brand stuck in the past became relevant again. At its heart is the basics of marketing; the leadership team at M&S has focused on the 'four Ps': getting the right products into the right places at the right prices, then delivering world-class promotion.

It wasn't so long ago that M&S was failing on all counts. …

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