StudentShare solutions
Triangle menu

Marketing plan of Marks & Spencers - Assignment Example

Not dowloaded yet

Extract of sample
Marketing plan of Marks & Spencers

The group's merchandise includes clothes, household goods and food sales, with their clothing line contributing half the revenues. It has also diversified into financial services that include accounts cards, pensions, loans, and life assurance and contributes about 5% of its total revenues. Marks and Spencer divides its operation as UK retail, International retail and financial services.
The UK Retail division is its major chunk of the business and contributes the most to the turnover. It sells Women's wear, Men's wear, Lingerie, Children's wear, Beauty products, Household goods, and groceries. The International Retail business prevailed from Europe to North America to the Far East a well. The Financial services division offers personal insurance, personal loans and store cards.
Until the late 1990's Marks & Spencer was largely successful and recorded highest profit growth in the years, 1997 and 1998. In 2000, Marks and Spencer launched lingerie outlets in Paris, Hamburg and Dusseldorf that met with considerable success. It is a leading seller of lingerie in the UK with a 20% market share.
However, Marks and Spencer had a slump, plagued by external and internal problems. Marks and Spencer business model was to maintain UK sourcing for its products, ensuring a perceived high value for the customer. Consequently when competitive retailers sourced from low cost Asian suppliers, Marks & Spencer found its core business model a great liability and it had to succumb to the trend. Product quality deteriorated and customer dissatisfaction caused it to lose a lot of its base. It also was faring badly in the International arena, due to its lack of direct control on its franchises. At the same time, it also ignored employee feedback and was a bureaucratic company. This reflected it being unaware to changing trends and fell way behind on delivering the customer on their needs.
In 2001, the company sold off loss making stores, decentralized operations and catered to customer preferences. It sourced from low cost suppliers but put it quality control measures. By 2003, Marks & Spencer rebounded and had recovered its financial health. Sales increased and the company had increased its market share. Although on its growth path again, the company has lost considerable market share. It needs a sound marketing plan, to scale the heights of its former glory.

Source from website < http://en.wikipedia.org/wiki/Marks_&_Spencer>
PEST Analysis

Political: The political government is stable conditions are stable and there are no major legislations that affect the operational capabilities. Environmental concerns are increasing and these may bring legislations that may enforce stricter control that may affect the stores in the long term. Advent of other legislations like minimum wage changes, labelling, licensing etc. may affect operation in the long term.
Economical: The European Union and the Euro may contribute to better purchasing power ...Show more

Summary

Marks & Spencer is a well-known name in the retail world. It was a high street retail chain that came into being in 1894 and became a listed company in 1926. Marks and Spencer is one of the largest retailers in the United Kingdom, and has a hard earned reputation of being extremely qualitative as far as its products are concerned…
Author : howellrylee
Marketing plan of Marks & Spencers essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the assignment on your topic
"Marketing plan of Marks & Spencers"
with a personal 20% discount.
Grab the best paper

Related Essays

Marks And Spencers Business Strategy
This paper gives a critical discussion and analysis of the business strategy of Marks and Spencer Plc with a view of analyzing and evaluating the company’s strategy using Porters Generic Strategy Framework. Moreover, the company is assessed in terms of acceptability, feasibility and suitability toward all of its stakeholders.
12 pages (3000 words) Assignment
Operations Strategies at Marks & Spencers Clothing Industry
According to the report the product design process is important for the success of any firm. This is because it governs the cost and time for delivering of new products. M&S develops measures that reduce the cost of production. M&S does its segmentation by developing sub-brands for its customers.
8 pages (2000 words) Assignment
Marketing Plan
The product strategy for this organization aims to attain consumer preference for pet therapy. Since consumers cannot be coerced to reveal their preferences, it is important for the marketing team to convince consumers that their services
1 pages (250 words) Assignment
Marketing Plan
The report applies marketing models and frameworks for adjusting a new brand into a new prospective market. Strategic marketing has been a significant subject to managers. It is a subject that has provided decisive support to many contemporary organizations, for driving
8 pages (2000 words) Assignment
Marketing Plan
This is followed by an identification of the marketing objectives for Samsung Electronics and a mapping of the marketing objectives of the company with the present business position of the company. A
14 pages (3500 words) Assignment
Marketing Plan
As such, even though this particular form of marketing would be beneficial in generating brand recognition and interest, it will ultimately be useless unless there is a working website associated with the content
5 pages (1250 words) Assignment
Marketing plan
This is common among the high end spas and salons. While these paid adverts have proved to be effective, personal contact is more important for a business that wants to retain most of its customers and also engage in viral marketing. This is a great opportunity that
7 pages (1750 words) Assignment
Marketing plan
The service will be sold directly to the customer. This will be in line with the nature of the business since this is a service and not a product that can be sold through the normal channels of marketing. The strategy is that I have enough knowledge and
1 pages (250 words) Assignment
Marketing plan
Nonetheless, we have extensive experience in manufacturing innovative, high-end, neat, and handy notebooks aimed at edging out even the mobile apps that imitate the functions of the traditional notebook.
2 pages (500 words) Assignment
Marketing plan
The company’s target market is the high, middle, and low class groups of customers. All the groups, irrespective of the income levels, are important to the catering company. The most
1 pages (250 words) Assignment
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation