Business Strategies of Marks and Spencer towards Their Business Expansion into China
Business Strategies of Marks and Spencer towards Their Business Expansion into China - Essay Example
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Extract of sample Business Strategies of Marks and Spencer towards Their Business Expansion into China
This paper illustrates that Marks and Spencer were established in the year 1884 by Michael Marks and since then has grown rapidly to about 600 stores in the UK alone employing about 75000 individuals across the globe in diverse markets. However, the aspect of international expansion must be handled with caution as one of the most important mistakes made by multinational firms involves undermining the aspect of local sentiments and beliefs that can lead to disastrous consequences in terms of positioning of the brand in the new foreign markets. The company has a dedicated presence in about 40 nations across the globe. China holds considerable promise for Marks and Spencer for expanding its business as the nation holds a good position with regards to ease of doing business. According to a report published by the World Bank China ranks 79 among all the nations with regards to ease of doing business preceded only by India, Brazil, and Russia among the emerging markets. In addition, China is also the highest populated country in the world and its recent strides in economic growth have led to making it one of the major markets for retailers across the globe. Cities like Shanghai and Beijing score high on the list of international companies trying to expand internationally due to good market potential.A research study conducted to analyze the consumer behavior states certain key trends of the Chinese consumers that include a good growth in consumption patterns, greater sophistication of the consumers, a reduced trade up of products and brands, shift towards brand value and brand image and finally display of greater smarter purchasing trends among the consumers. In addition to this, the Chinese consumers have also become more inclined towards better service and are also influenced to some extent by Western brands.
The study would analyze the business strategies of Marks and Spencer towards their business expansion into China. Marks and Spencer is one of most established players in the retail industry with a large array of products ranging from food to apparels…
This academic proposal is being carried out to determine the current scenario of the Coca-Cola Company’s business in China’s beverage market and the strategies that the company is following for its business outcomes; to understand the strengths, weaknesses, opportunities and threats of the company in its conducting and expanding business in China.
It has been facing survival crisis amidst intense competition (Mellahi, Jackson and Sparks, 2002). In addition they have not been spending on marketing. Its competitors include the traditional rivals such as John Lewis and Next, and in addition very recently Primark, with its low-cost clothing has changed the face of British High Streets (Ruddick, 2012a).
This requires concentration on the various processes of sourcing including trend and concept, product design, specifications, supplier selection, production, delivery, consumption and as appropriate ongoing customer support. These days even the most vibrant retail stores operate on razor thin margins and wrong guesses about trends and customer tastes can have an immediate and devastating impact on profits and ultimately the viability of running the business.
Sales decline was 4.8 % in 2000.
The tools and frameworks applied to marketing in the UK do not differ to those used to market products in other countries. Identifying these issues and assessing their effect on strategy provides the basis for the M&S to analyse the causes of sales decrease and possibility to develop a new strategic plan in order to obtain a strong market position.
Everybody knows that retail is one of the most competitive economics sector. Shops, marketplaces, boutiques, super- and hypermarkets offer us great choice of different goods. That's why if any company has been taking the top positions for almost 10 years, - it is considered as a great success.
The Major 'Strength' is Mr. Roger's business acumen in travel business, as it appears. If we reckon the 'Weakness', again Mr. Roger's lack of orientation on Strategic business management comes to our mind.
On seeing some sites as a quick reference, we find good 'Opportunities' exist for travel business.
It is however, impossible to do without this type of professional because of the many issues involved. The suggestion is that once these people are trained that it be kept in mind that there will be concessions to keep them. The forms of enticement that can be used are many including unique benefits.
Needless to say, its market level especially in the international profile has been gradually growing due to its strong marketing strategy and the ever increasing demands of its products especially in the
Organizational perspective indicates appropriate measures to be undertaken so as to ensure long term sustainability. Process perspective evaluates various loopholes which need to be eradicated to address customer needs. Customer perspective is all about image building in
11 pages (2750 words)Coursework
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