Marks & Spencer's Marketing Strategy

1365 WordsDec 4, 20146 Pages
Background: Marks & Spencer was originally founded as Penny Bazaar in 1884; the company successfully developed itself into a retail chain store in the 1990s. It specializes on food, fashion and home furniture. Marks & Spencer has become an international, multi-channel retailer with high profitability, all originating from a single market stall in the UK. (Marks & Spencer, 2014) Over the decades, Mark & Spencer has expanded rapidly and grew rapidly throughout the world. There are more than 85,800 employees working for M&S in around 800 stores in the UK; in addition, M&S has also 455 stores in 54 nations worldwide. (Marks & Spencer, 2014) All the goods sold by M&S are either designed by M&S headquarter or co-designed with manufactures to ensure product quality and reliability. Cost-effective prices, good quality products are both characteristics that encompass the M&S brand. Meanwhile, M&S has also showed to have a very strong sense of social responsibility; in recent years M&S has been concerned with the global ecological environment and the implementation of eco-friendly operations. (Sustainable Review, 2013) It is not only establishing a good image for itself, but M&S is also gaining the trust of customers. Moreover, Marks & Spencer has crafted cross-store market strategies effectively, which make the firm footing and seeking development in the fierce market competition. (Marks & Spencer, 2014) Although Marks & Spencer has achieved great success, one of the main drivers
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