Explorative Study of Marketing Strategies Adopted By Fashion Retail Industry in the United Kingdom: A Case Study of Mark and Spencer

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ACKNOWLEDGEMENT

No words can express my appreciation and gratitude to my research advisor _______ through the course of this research, Professor _____has taught me numerous values that extend well beyond the realm of _________ (Your Subject Name). His emphasis on dedication to work and his valuable and practical insights of life are some of the major highlights of my education at The University _________.

DECLARATION

I [type your full first names and surname here], declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for the academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University.

Signed __________________ Date _________________

ABSTRACT

Marketing has become an integral part of our life. This dissertation has identified the marketing strategies that are being used by Marks and Spencer in the fashion retail industry of UK to gain market share. This dissertation has identified that they had based their marketing strategies on creating value for their products through differentiated marketing and exploiting every opportunity through different means. In the process, they had applied the value-based pricing to determine the pricing for determining the price that they would charge from their customers. This has enabled them to create a unique value proposition for their products based on their marketing strategy. Marks and Spencer have played with the psychology of their customers to gain their attraction and attract them. From the analysis of the secondary data and interview analysis, this dissertation has implied that the fashion retail stores in UK are applying the differentiation strategy to cater to their customer needs and market their products.

TABLE OF CONTENTS

ACKNOWLEDGEMENTII

DECLARATIONIII

ABSTRACTIV

CHAPTER 1: INTRODUCTION1

1.1 Background of the study1

1.2 Introduction1

1.3 Problem statement2

1.4 Aims and objectives of the study2

1.5 Research question2

1.6 Significance of the study3

1.7 Rationale of the study3

1.8 Outline of the study4

CHAPTER 2: LITERATURE REVIEW5

2.1 Clothing as a basic human need5

2.2 Orientation of fashion5

2.2.1 The concept of fashion6

2.3 Fashion leadership6

2.4 Self-concept and the importance of fashion for consumers7

2.5 Marketing Strategies in the fashion industry7

2.6 Generic strategies in the fashion industry8

2.6.1 Overall Cost Leadership8

2.6.2 Differentiation9

2.6.3 Value System9

2.7 Advertising: A very crucial marketing tool in the fashion industry10

2.8 Attitudes toward marketing and advertising11

2.9 Consumer attitudes towards fashion marketing11

2.10 Factors affecting marketing strategies in fashion industry: Lifestyle13

2.11 Postmodern Consumer Culture13

2.11.1 Post-modernism13

2.12 Postmodern consumers14

2.13 Summary15

CHAPTER 3: METHODOLOGY17

3.1 Introduction17

3.2 Overview of research approach17

3.3 Overview of qualitative and quantitative research approaches18

3.4 Rationale for employing a qualitative study19

3.5 Research method and design appropriateness19

3.6 Literature Search20

3.7 Data analysis20

3.8 Data organization21

3.8.1 Analysis of primary data21

3.8.2 Secondary data analysis21

3.9 Research tool utilized21

3.9.1 Unstructured in-depth interviews22

3.9.2 Secondary data collection22

3.10 Justification of research tools23

3.11 Population and sampling23

3.11.1 Population23

3.11.2 Access to participants23

3.12 Participants of the research24

3.12.1 Interview participants24

3.13 Informed Consent24

3.14 Confidentiality24

3.15 Conclusion24

CHAPTER 4: FINDINGS AND RESULTS25

4.1 Introduction25

4.2 Major findings of the interviews25

4.3 Strategic marketing at Marks and Spencer26

4.3.1 Market segmentation of Marks & Spencer26

4.3.2 Target market of Marks and ...