Marks&Spencer development

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Marks & Spencer is a leading grocery store which has covered wider market place. It is the very well recognised organization which is established to flourish the service in terms of clothing, food stuffs, home ware and gifts, and accessories for this survival and growth of business. It is quite expensive but also maintaining the position in the top 10 in UK. Goods are tangible whereas services are intangible which provides satisfaction to the human beings. Marks & Spencer is one of the most renowned glossary retailer store which has understand the modern needs and desires of customers. It has played vital role in the service sector management. Though there are various retailed stores in UK and abroad but Marks & Spencer put them back and…show more content…
I believe they also lost touch of who their target market in fact was. They were still taking for granted who their consumers actually were. • The second move was to decentralise the buying function to stock what the customer wanted, again they did not research the consumer or make use of technology such as data mining to determine what the customer needs were and were approaching it with the right idea but executed it badly. • More control and responsibility seemed to be handed to store owners but the problem was that many of the old dinosaurs were still in play such as GREENBURY, although not CEO he was still involved. • The company withdrew from some of it operations in foreign countries, which was a step in the right direction in that it could concentrate on the market that it knew best, the UK. • There was a move to use international suppliers, which was a step in the right direction as it could now source products cheaper and the value chain could become more cost effective. • They diversified into home and internet shopping, an area that they were unfamiliar with and did not understand fully. • A new chairman from outside the company was brought in, which was a move in the right direction, so that new and brighter strategy from outside the organisation could be developed. • The stores
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