In this report, I have used marketing concepts to analyze the marketing environment and marketing mix of a firm, which has achieved superior performance. I have chosen one of the most famous and oldest retailer in the UK, Marks & Spencer.
Marks & Spencer is one of the best well-known British department stores. It was founded by Michael Marks and Thomas Spencer in 1884 (M&S, 2014). It started as a market stall at Kirkgate Market in Leeds. Nowadays, M&S has transformed to an international multi-channel retailer with 798 stores in UK and 455 international stores (M&S, 2014). According to its annual report this year, it has earned a total revenue of £10.3 billions over the last year. (M&S, 2014)
Basically Marks & Spencer has divided its
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Therefore Plan A is launched in 2007 (M&S, 2014). It is a plan that promotes ethical trading, environmentally friendly and sustainability. For example under this plan, M&S has developed a programme that trains suppliers with their rights, as well as support some disadvantaged supply chain workers. With the help of Plan A, M&S has established a good relationship with their suppliers and also earn them a place of high rated ethical trading company.
Maintaining good relationship with the suppliers is very important. If one of the suppliers suddenly refuses to supply material to M&S, they can find another suppliers immediately. Therefore M&S has never failed on the supply of materials.
➢ Customers
M&S mainly target the consumer market rather than business and government market. The objective of M&S is not only maximizing their profit, but also increase customer satisfaction and their loyalty. M&S target their customers on the upper class of the society that means people with higher income, and also healthy eaters in the society. Their target customers mostly aim at improving their quality of lives, concerning about the product quality rather than prices. So M&S devote their effort on improving the quality of their products so as to increase customer’s satisfaction. According to Baber Smith, M&S have seen as producing good quality products with good values (Baber Smith, 2009).
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Over the last 129 years M&S has grown from a single market stall to become an international multi-channel retailer. They now operate in over 50 territories worldwide and employ almost 82,000 people. Remaining true to their founding values of Quality, Value, Service, Innovation and Trust, we work hard to ensure our
M&S are one of the UK's leading retailers of clothes, food, home products and financial services. Some 10 million people shop with us each week in over 375
Marks and Spencer Group (M&S) is the premier retailer in clothing, foods and home ware within the United Kingdom. The company’s commitment to quality, value, service, innovation and trust is a key contributor to their success as a high street retailer in the UK. Their current core UK operations centre around three divisions, food, general merchandise (including clothing and home ware), and the financial services industry. Therefore Tesco plc is the prime UK retailer to analyse and compare growth, financial performance and the financial status of M&S Plc in line with other competitors within the same industry.
Predominantly M&S are known as a clothing retailer but has grown organically into food and furnishings but, market watchers tend to judge their performance on the
The company’s brand image in clothing and increasing business in food sector together with successful marketing strategies will ensure sustainability of business. M&S is investing in Multi-channel store (online stores) to increase its capabilities in this field which will be fruitful for the company in future as it already showed quit improvement in online sales. Further, the company’s commitment
They would usually want Mark and Spencer to produce high-quality, value-for-money products. Customers often identify with the brands they buy. They like to see improvements that give them better value for money. Customers would want aims and objectives that are focused on satisfying their needs as customers. Mark and Spencer do have a number of objectives associated with customer satisfaction, which customers seek to influence.
Marks and Spencer is a major British multinational retailer headquartered in the City of Westminster, London. It specializes in the selling of clothing, home products and luxury food products. M&S was founded in 1884 by Michael Marks and Thomas Spencer in Leeds. “M&S has grown from a single market stall to an international, multi-channel retailer, selling stylish, high quality, great value clothing and home products, as well as outstanding quality food, responsibly sourced from around 3,000 suppliers globally. M&S have almost 800 stores throughout the UK.” It is the biggest and strongest competitor for Next.
Marks and Spencer (M&S) p.l.c. is one of the largest retailers in the United Kingdom with a selling space of 12.5 million square feet, was established in 1884 as ‘Penny bazaar’. M&S sells clothing, food, footwear, gifts and home furnishings in its 760 stores around the world. The company’s wholly own and franchise stores operates in Europe, Hong Kong, Far East, Australia, Middle East, the Bahamas and Bermuda making a total of 34 countries.
Even though M&S undertakes social responsibility and tries to gain focus of people,distant community will have very low interest and low power on M&S’s operations and industry bodies like British Retail Association and Confederation of British industry might have very low interest and low power.
Marks & Spencer is founded by Michael Marks and Thomas Spencer. Since starting in 1884 by selling clothes for men and women, the company has grown in the UK and soon in the rest of the world they experienced tremendous market strength and even expanded their items from food, wine, beverages and household items. In the 19th century they expanded to more than 1,250 stores in the UK and major cities in different countries worldwide. It also gained more than 85,000 employees during this decade. In the mid of the 19th century, however, it is challenged by the competition that weakened their clothing and fashion for men and women, their popularity began to subside.
Marks and Spencer Company is one of the biggest retailers in UK, which it has known by providing the finest qualities of goods and services including clothing, home product, foods and groceries. In currently, M&S Company operates 852 UK stores, 480 international stores and e-commerce platform includes approximately 83,069 employees, while M&S Company is one of the UK’s leading market positions in Menswear, Women-wear and Lingerie products (Mark and Spencer 2016.
I developed my interest on M&S, one of the largest retailers in UK and significant international presence, during my study of other entity’s profile. As an ethical entity M&S earned respect from people. Fairtrade and Plan A was very much appreciated by all level of people. Plan A dramatically increase the environmental sustainability of the business with in 5 years and expected to cost £ 200 million. The Plan covers 100 commitments over 5 years to address the key social and environmental challenges facing M&S today and in the future. The commitment span five themes: climate change, waste, sustainable raw materials, fair partnership and health, with the aim that by 2012. It will
Marks and Spencer is one of Britain's most well-known, beloved stores. Within its walls, you can get everything from clothes to quintessentially British food. It is a one-stop shop for many Britons who adore it. Because of its popularity and singular British-ness, the company thought to expand into Western Europe. After all, there were many communities of British expatriates all over the continent who would probably appreciate being able to get a little taste of home in their new locations. You can't buy meat pies and English tea just anywhere, after all.
Founded in 1884, Marks & Spencer gradually transformed itself from a small booth to a global department store company with multiple channels,
Marks and Spencer (M & S) was started by Michael Marks and later joint by a partner Tom Spencer in 1884. It is one of the largest British retailers that sold clothes, home furnishings, food, gifts etc. and was formerly known as St. Michael. It has markets in Europe, Far East, America and Asia. The company suffered a series of losses and a dip in the market share from a few years before the stepping down of the then CEO, Sir Richard Greenbury, in 1999. In 2001 the company underwent a drastic strategic change and the