However, its general merchandise did not produce impressive results as expected (HelpMe.com: Marks & spencer strategic analysis 2015). The following strategic analysis report was carried out for Giant Hypermarket in Malaysia. Political, Social, Technological factors are favorable, while Environmental factors are neutral and Economic and Legal factors are slightly unfavorable Some objectives that they have set are to:, Marks and Spencer. The company should improve its presence in countries like India, China, Brazil, and South Africa. The discussion has been described in detail about the core analysis of M&S' internal and external environment, SWOT analysis of M&S has been included. Although M&S has very good quality of the clothes but on the other hand their clothes are very expensive and old fashioned. M&s needs to use the advanced technology to introduce its products more widely in the market like online shopping and fast delivery. Responsible sourcing and human rights are fundamental in allowing individuals to lead a dignified and independent life, free from abuse and violation. For instance, GAPs main target customers across the globe are those aged 15-35 years. Customers at M&S stores can leave their feedbacks freely. However, its main target is women who earn a high income. Every organization tries to gain best position in market. To build networks within the Organizations and outside, Moving to the position of a chief executive, Meeting personal goals and those of the Organization, Setting the vision of an Organization and realizing it, Creation of a conducive culture for the growth of Organizations, Managing the external environments for the benefit of Organizations, Building networks with international Organizations. New media technologies can be used for efficient delivery of new taste and fashion trends from factory to store displays, better communication with designers, producers and suppliers is very important for the company, Zara is one of the fast market changing competitors of M&S, it is important that M&S be ahead of any of its competitors while keeping its classic touch of style in some range of products. professional specifically for you? Marks and Spencer experienced a complex renegotiation of its relationship with the environment and resource use as it underwent rapid expansion and changes in the period 1968-1992. The retailer said eight 'full-line' shops selling food, clothing and . Gattorna, J 2009, Dynamic supply chain alignment : a new business model for peak performance in enterprise supply chains across all geographies, Gower Pub, Burlington, VT. Harman, W 2014, 5 google+ tips to improve your networking, Web. The brand image has both physical and psychological aspects. Marks and Spencer is a general retailer that sells clothes, gifts, home furnishings and foods. Reinventing strategic management: New theory and practice for competence-based competition. In the field of strategic management, the concept of differentiation refers to the process of making a product or a service popular among customers. Foremost companies must allocate funds for research and development, the conventional way is the percent of sales technique. However, this report shall have a focus of the food sector in the United Kingdom., Introduction: Below I have written about how Sainsburys met their sales targets. The Organizations positioning initiatives are likely to remain the same over the next 12 months. Keeping in mind PESTEL analysis and competitors, it is being summarized that M&S has to make the strategies taking into considers its weakness. , It is rated number 80 in the list that entails businesses whose total value add up to more than 5500 million euros in the world. Political decisions and circumstances are very important for the M&S. However, pre-eminent retailer the John Lewis Partnership ('the group'), with its partnership structure so unusual in retail, seems to be fitted with some kind of antigravity device. The competitive retail landscape and evolving shopping behaviors of customers means it is essential for M&S to have access to the most efficient and effective technology throughout its . This process is started while idea generation and financial planning as well as continue to the process of implementation. - Spencer Marks has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. However, M' prestige and outstanding long-term performance have been hit in recent years by falling sales and declining customer satisfaction. Abroad, it sells goods and services in more than 320 stores in over 40 countries. Competition 2015, Web. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. Within 10 years Michael Marks had at least 12 premises, his business skills took him to his friends in the search of potential business partner, he approached one of his friends Isaac Dewhirst, whose money had loaned towards his original costs at start up, refused his offer but referred Mark to Thomas Spencer who was working for Isaac as a senior cashier. M&S uses email for advertisement purposes. Marks and Spencer is one of the most profitable companies in the United Kingdom and across the globe. RECENT STRATEGIC DEVELOPMENT HISTORY 2.1 Background Marks and Spencer, commonly referred to as M&S was founded by Michael Marks who opened a penny bazaar at Leeds market stall in 1884. predictable outlook of their business and shift from process-focused to customer-centred is an important leap towards competitive edge and service efficiency. The reason is that it makes them feel part and parcel of the Organization, which in turn increases their loyalty to the Organization. However, Marks and Spence assessed all of these aspects at the planning phase of new product line which ensured that organisation have feasibility to manage specific strategic changes effectively with respect to timing. Shadequr Rahaman Email: circlebiz96@gmail.com Like this: Loading. M&S has to change its behaviour of slow response to consumers changing needs and preferences. Consequently, their perception of M&Ss brands has been strengthened. In food, M&S needs to build a clear position as a specialist of food retailer. Global warming is a hot topic in the world. It is through the chain of command that authority and power to make decisions are entrenched (Sims 2007). It depicts that for Marks and Spencer the proposed business strategies in reference to new product development must be scaled. One of the most effective ways that the Marks & Spencer brand has evolved to adopt new ideas of "value" in the modern world, is with their "Plan A" strategy. M&S News See all articles Today 5:36 AM On the side M&S has earned reputation in meeting the customer demand. Marks and Spencer will use social and electronic media to target its audiences as companies are increasingly using them in the modern competitive environment (Vizard 2015). The bureaucratic approach views Organizations as being guided by rationality (Stanford 2007). Marks And Spencer Competitive Analysis. The company's stores and outlets are strategically located across London. All work is written to order. In order to understand how M&S still keeping its trust on people hearts and growing in tough market environment, it is important that we first go through with how the company is structured and how the flow of information passes from customers to policy makers. It also has to do with the choice of colors for the products and how the products are packaged. Human resources can be source of competitive advantage. Specific needs of the middle-level employees: What M&S would want the employees in this segment to know is that personal, professional, and career growth are based on the commitment to the set goals and objectives. Dahlen, M & Lange, F 2008, Marketing communications, John Wiley, Hoboken, N.J. Ferrell, O.C & Hartline, M 2010, Marketing strategy, Cengage Learning, Farmington. The UK economy, however, does not look very optimistic, since inflation is predicted to decrease below Bank of Englands target and VAT taxes were forecasted to rise. When people like the page they are able to access the Organizations business information such as services offered, physical addresses, the Organizations mission and vision among other information. Newstatesman.com: Marks & Spencer: great food, bad clothes 2013, Web. IvyPanda. For example, low-income earners are motivated by the following: On the other hand, the high-income earners, who consider themselves as the affluent are motivated by the following factors: The youth are motivated by the following factors: Currently, M&Ss focus is on women with high-income. Diversity: Marks& Spencer have around80,000 employees who work in their showrooms . The retailer focuses mainly on manufacturing of the clothes, furnishings and homeware accessories, luxurious food. Group Members Davis D Parakal ( 3357394) Ehigiator, Osamudiamen (3314607) Inu-Umoru, Zekeri (3362859) Prandzioch, Aleksandra Teresa(2896971) Abdullah M Almurabt , Sultan(3333929) ANIM, Edmond(3378827) 3. In order to take competitive advantage, Marks & Spencer should have good relation and understanding with their buyers and suppliers. The objectives of the study is to advise the Board of Directors into a possibility to revisit and redesign the current business strategy based on the blue ocean strategy (Kim and Mauborgne, 2005) to provide value based innovation via cost reduction with increased value for buyers and to ensure sustainable business operation in Malaysia. The reason is that all customers are important. Marks and Spencer believes in eco-friendly goods and fair-trade products and hence has worked wholeheartedly towards achieving it. Marks & Spencer has unveiled details of a 480m radical reorganisation of its shops, including plans to open 20 bigger stores. Free resources to assist you with your university studies! The Organization has adopted technology in most of its operations and service delivery. M&S should operate home furniture business separate from food and clothing. HelpMe.com: Marks & Spencer strategic analysis 2015, Web. The positioning is based on Porters theory of five forces that shape business strategy. M&S trades in clothing, ready meals, bakery, and households. The motivating factors of the customers in these segments include differentiation and positioning. However, in August 2020, the company announced that it would cut down 7000 jobs due to the covid-19 pandemic. You can use them for inspiration, an insight into a particular topic, a handy source of reference, or even just as a template of a certain type of paper. The external environment analysis pays attention to the factors affecting the company and is often referred to as the macro environment. Just like other multinational corporations, M&S was not exempt from the effects of the recession (Slideshare.net: Marks & Spencer strategic analysis 2015). The reason is that the customers in this age bracket are usually attracted to fashion trends. On the Facebook pages, the Organization invites those who like their pages to give their views regarding the Organizations operations. Operation decisions are influenced by marketing strategies while marketing strategies are affected by the outcomes of other KBFs. The Organization has rules of conduct at the workplace. There are minimal political risks for the business, both in the UK and in other countries where it has operations. However, the company is vitally investing in online business marketing to boost the sales of home-use products. Our store rotation programme is about making sure we have the right stores, in the right place, with the right space and we're aiming to rotate from the 247 stores we have today to . For any brand to be popular among customers, it does not only need to be marketed on popular sites like Amazon.com but it also needs the development of an excellent brand image. Communication is an essential component of business strategy because it enables organizations to reach their customers. April 26, 2021. https://ivypanda.com/essays/marks-amp-spencer-companys-marketing-environment/. https://ivypanda.com/essays/marks-amp-spencer-companys-marketing-environment/, IvyPanda. Stuart Machin, Chief Executive of M&S commented: "Stores are a core part of M&S's omni-channel future and serve as a competitive advantage for how customers want to shop today. Every key business function has affects on marketing and physical limits on the amount that can be produced and the sorts of marketing strategies that can be implemented. This includes having an organisational culture which promotes diversity, inclusivity, personal development and respect. Companies next have to organize the process of development. The reason is that the closure would negatively affect customers loyalty to the clothe ware products of the Organization. Tesco has expand geographically from the time early 1990s and into sections like electronics, furniture, and internet services etc. Marks & Spencer Resources, Capabilities & Competitive Advantage Compiled for Paull Robathan. We will write a custom Assessment on Marks & Spencer Companys Marketing Environment specifically for you for only $16.05 $11/page. Annual review and summary. Today, the economic environment -- in UK especially, but also globe wide -- raises the threats of higher credit costs (Floud and Johnson, 2004). 26 April. Therefore, Tesco's business success indicates that effective operations strategies have played a vital part in supporting and driving its whole business objectives which is "to create value for customers to earn their lifetime loyalty"., The following report analyzes marketing and financial performances of John Lewis PLC. ensure the integrity of our platform while keeping your private information safe. Its main competitors include NEXT PLC, GAP, and H&M. The last three years have been useful for the Organization because it has developed a strong foundation for the growth of its business. 4, no. Customer service staff members are the representative of any company, Marks and Spencer Customer Assistance is the face of corporate staff that provides high quality services with their commitment and enthusiasm to make sure they deliver the service according to the customers expectations. Employees are selected not on the basis of friendship, but on merit and qualification. According to the Chief Executive, Mr. Marc Bolland, the Organizations focus over the last 3 years has been to strengthen its foundation by investing in areas that improve customer satisfaction. Company Overview However, in terms of responsibilities, those at the bottom are mostly involved with the daily activities of Organizations while those at the top are mostly involved with policy issues and public relations activities. Marks &Spencer: company profile 2013, Web. M&S business news, financial results, presentations, company reports and the latest share price. M&S is making investment in customer services and assistance section. Environmental analysis To make the analysis of external environment of Marks and Spencer, this report will cover two key model that are PESTLE and Porter's five forces. Our academic experts are ready and waiting to assist with any writing project you may have. M&S entered the market in the late 1880s with a 'no frills' strategy (Johnson G & Scholes K. 2002. pp320-323). As M&S products are older fashioned and expensive, they have to make a strategy that deliver more customer oriented product on less prices. Such rules govern things like working hours, holidays, and communication protocols within the companies. In each part of the business M&S has a lot of competitors like BHS, NEXT, Burton and Gap. The UK clothing retail industry has experienced significant growth, which has focused attention on studies in the field with this sector being considered as the one of the most competitive markets in Europe. Marks & Spencer's An analysis on HRM 2. In this book, along with an in depth analysis of the competitive strategies which are Cost leadership, differentiation and Focus, he also concentrates on the firms value chain. Tesco was founded in 1919 by Jack Cohen who began his new venture by selling surplus groceries from a stall in the east end of London; One his first day he made 1 profit and 4 of sales (Tescoplc.com [history]). Of these three processes, the people process is believed to be the most critical due to the ultimate need to involve humans in each step. These techniques show the strengths and weaknesses of the organization and as well as their opportunities and threats that are possible to the business in order to form an effective developed strategic plan during the process of operation. In November 2010 Marc Boland new chief Executive announced the next five years plans. M&S attracts its customers by promoting its products on every occasion and event by hanging promotional offers posters, sign boards and confetti. Company Q has taken correct decision closing those two unprofitable. As they operate in many. We know our customers want to do the right thing for the planet and the people who make our products, so we make it easy for them. "Marks & Spencer Company's Marketing Environment." Especially in the home furniture department, well trained staff is required. Last accessed 16 May 2011., In this assignment, there will be a critical comparison of the UKs biggest retailers Tesco and Sainsburys, outlining their marketing strategy, the key factors of their success and also the advantages and disadvantages of both companies. are all compete on price, quality, range, and service in order to strive for business success. M&S will also clarify the position of its sub-brands, moving them from labels to real brands, According to him In Food, M&S will gain a clear market position as a specialist high-quality retailer, inspiring customers with unrivalled quality and innovation. They should also internalize the Organizations core values and embrace them at all times. Available: http://corporate.marksandspencer.com/documents/publications/2011/annual%20review%202011. M&S markets products for both sexes. The annual revenue of the company in 2020 was 10181.9 million pounds. The Organization, therefore, needs come up with strategies which would boost customers confidence in its clothe-ware. As per economical responsibility, business should make some profit and provide a return on investment to their investors. The core strategy of M&S is quality, value, better service, innovation and trust. Mission And Goals Of Marks And Spencer Commerce Essay. Once Facebook users like the Facebook page of the Organization, the feature directly connects Facebook to the users email accounts. M&S: 2015 A year in preview for sustainable business 2015, Web. Basically external environment defines the competitive situation of organisation and potentially have both positive and negative impact on businesses analysis targets four major categories of external factors that affects company's capability to grow. The political environment under which the Organization operates is very stable. The company will follow the same pricing strategy by highlighting its off-prices on different platforms. The reason is that it aims at delivering quality and affordable products and services to all its customers over the next three years. Despite this fact, the market environment has remained relatively stable, meaning there have not been major changes. The analysis as a whole, however, has a number of limitations, including the fact that the companys financial factors for 2011 are not available. As a result, the closure of the division due to poor performance is not the best solution to deal with the problem. At M&S you can shop around many things for your daily life use and life-style i.e. After analysing M&S business environment we come know that M&S should have to make some changes in its operations and research and development department. Once that happens, the users are able to receive updates on various products and services in their e-mail inbox (Pearson & Saunders 2013). Spencer Marks has effective processes in place that helps in exploring new product needs, doing quick pilot testing, and then launching the products quickly using its extensive distribution network. The objective of M&S has always been to transform itself into a leading player in the retail industry. All these communication strands carry consistent brand messages such as: The key brand values include the following: All these values apply to the internal market as well as the external market. For this reason, these ranges cater to different needs of the customers. Keep up to date with all the latest news from M&S. Its competitors have faced a financial crisis in 2020. The friendly social environment has been achieved through the sensitivity of the Organization to the needs of the local customers as well as the provision of very friendly goods and services at affordable prices. The database is updated daily, so anyone can easily find a relevant essay example. In 2021, we reset our Plan A mission to become a net zero business across our entire value chain by 2040. In each part of the business M&S has a lot of competitors like BHS, NEXT, Burton and Gap. M&S should enter this market segment either by starting new business or by acquiring another company such as Next who is well known for stylish clothes for children and younger aged consumers. This gives the organization a picture of what strengths to exploit and develop further, and what weaknesses should be corrected to reduce market liability (Hill and Jones 2012). Marks & Spencer's main products and services are clothes, food and edible items, and home products. Marks and Spencer known also as M&S is a constituent of the London Stock Exchange's list and is present in the FTSE 100 Index. Study for free with our range of university lectures! Yudelson, J 2009, Sustainable retail development: new success strategies, Springer, New York. M&S is also famous for high quality and great value for mens garments with unique classic styles. Without satisfying customers businesses cannot run their operations for long time. BCG matrix is the matrix which determines the level industry relative share of the industry and the business with the help of four dimensions. Resource-based strategic analysis is based on the assumption that strategic resources can provide Plan Spencer an opportunity to build a sustainable competitive advantage over its rivals in the industry. They practice their business operations by maintaining the code of ethics so the business policies do not hamper with any adverse condition (Marksandspencer.com, 2017). Economic situation of the country is the factor that can pressurise the M&S business. The assets and ventures of the organization together ought to be utilized to eradicate the failures and the threats so as to build up a demanding philosophy against the dangers seen as threatening the progress of the company. Its main strategy is to sell goods and services of high quality at affordable prices. How the price war of the supermarket has affected Sainsburys and what they have changed to fight back. The bureaucratic structure is based on the bureaucratic theory of management. Analysis. Marks and Spencer should focus on developing economies throughout the world for expanding their business and gaining sustainable competitive advantage. Benchmarking can be helpful to an organization in many different ways 1) it helps place an effect in perspective, was the outcome good, bad, or average 2) Benchmarking can also help set the practicality of you targets that you had set and want to measure 3) Benchmarking can also can help identify both areas as well as subcategories with good or poor practices and the greatest room for improvement (Azevedo et al., 2010). Unlike many of its competitors, M&S does not operate factories and as a result, it does not manufacture any products for itself. M&S needs to change the technology in its stores by introducing hand held communicators PDA to track the clothes from the distribution onto the sales floor that enables to know the exact amount of inventory and ensure the right items will be delivered on next day similar to Next. The Organization also has a Twitter handle where those who want to know more about it are requested to follow the Twitter handle. As external environment is one of the most important factors for businesses, it cannot be ignored. In order for M&S to boost the perceived value of its products and services without changing its products and services, it needs to invest more in marketing, especially through the promotion of its products using different marketing platforms. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! Key Findings External Environment ? We think entry of new rivals is the big factor in external environment. That is the reason why some consumers do not even care about the price offered by the Organization due to the trust they have in it (Contextsustainability.com: Report review: Marks & Spencer Plan A report 2014: Putting consumers center stage 2014). It is achieved through the description of the unique characteristics of the product or service is differentiated. Dynamic capabilities such as SWOT analysis, is a combination of internal and external analysis to reflect an organizations ability to adapt to volatile markets (Teece 2009)., This assignment will focus on identifying the mission, values and key objectives of Marks and Spencer PLC and also access the influences of three of their stakeholders. "Marks & Spencer Company's Marketing Environment." Something else which M&S would want them to know is that the Organization has a potential for growth and as a result, they should dedicate all their efforts to help the Organization grow (Gattorna 2009). It has also differentiated its products and services to suit the specific needs of customers in different segments. Positioning initiatives are likely to remain the same over the next 12 months updated! 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