MARKS & SPENCER

Marks & Spencer



Executive summary

This report critically analyses the impact of external and internal influences on the business strategies of Marks and Spencer (M&S), evaluates the factors, and modifies its business strategies. The major finding is that M&S has successful business strategies and marketing plans. However, the company does not maintain these advantages continuously. Indeed, it causes some disadvantages.

The purpose of this report is to evaluate how M&S survives in the changeable market. Moreover, its concludes how macro- and micro-environment affect M&S to make its marketing plans and investigates the strengths, weaknesses, opportunities and threats of M&S. By analysing current business situation, M&S needs to revise its marketing segmentation, divide its products into different target markets, and serve consumers effectively.

Table of contents

Executive summary2

Introduction4

Background History5

Target market6

PEST analysis7

Economic Factors7

Social Factors8

Political Factors9

Technological Factors9

Marketing mix10

Product10

Price11

Place11

Promotion12

Strategic Situation Analysis and Synopsis12

Porter's 5 Forces Analysis12

Bargaining Power of Suppliers12

Bargaining Power of Buyers13

Threat of Entrants (Barriers to Entry)13

Threat of Substitutes14

Competitive Rivalry14

SWOT Analysis14

Strengths14

Weaknesses15

Opportunities15

Threats16

Direction Forward Strategy for Future16

Introducing New Products17

Expansion of Network and Merchandising Content17

Brand Loyalty17

Customer Satisfaction and Feedback18

Team Building19

Training and Development19

Communication Process20

Compensation and Benefits20

Conclusion21

Recommendation21

Marks & Spencer

Introduction

Marks and Spencer is one of the largest and popular retailers of the world. It is known as the major retailer that trades a variety of merchandise range under their brand. They are situated in more than thirty countries. They have a strong consumer following and have created a strong brand image over the years. The consumers have confidence and reliability in the Marks and Spencer's products. As per the market research, Marks and Spencer leads the over a majority of its competitors in terms of customer service, variety, believe, quality and reliability. This group also owns the apparel wear stores under the name of Brooks Brothers and super markets under the name of Kings Super Markets chain in the US.

Moreover, another aspect of the company Direct mail which helps the company meet their main objective of providing customers with an easier access to their products also the company provides financial services, which comprise of operations of the groups also provide risk management services, life assurance and pensions to the people. M&S as a company has always been known to have a great management support that contributed to its growth. Previously, the company's managers failed to comply on their decisions, leading the group to lower sales and profits. Also, the prices per share dropped which affected the shareholders insecurity.

Background History

A very popular retail brand from England, Marks & Spencer boasts of a hundred and twenty years of legacy. Britain itself hosts 450 and more Marks & Spencer outlets that a staff which measures close to 65,000 in number. This company is not just a successful brand in England but is also known as an upcoming brand in other countries outside of Britain including Hong Kong. Off lately, the retail business in Britain has gotten more aggressive with consumers getting spoilt for choice. The consumers have indeed become much smarter in making a choice of the place and the way, in ...