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International Marketing of Marks & Spencer (M&S) in Vietnam - Essay Example
Author : rohandeangelo
Pages 9 (2259 words)
The researcher of this following essay will make an earnest attempt to investigate or conduct a global market opportunity analysis of Vietnam’s macro environment (STEEP) and recommend possible market entry strategies for M&S in Vietnam. …
The focus in this paper is on Marks & Spencer (M&S), a UK-based company that was established by Michael Marks and Time Spencer many years ago, and it is now one of the largest clothing, food, and home product retailers in the world. The company has an ambitious goal, which is to become the “world’s most sustainable major retailer” by 2015. The company has a group revenue of £8,733.0 million in the UK and £1,0073 million in the international market. Providing needs and satisfying customers with the best product experiences across the world are the top priorities of M&S; in fact, they have continued to meet expectations of their 21 million weekly customers by expanding in many international markets. M&S has about 700 domestic retail stores in the UK and “361 wholly-owned, partly-owned, and franchised stores in 43 territories across Europe, the Middle East and Asia.” Macro-environment is one of the environmental issues that influenced the retail industry in Vietnam, as well as the industry’s growth prospect. This analysis will focus on major trends that have an impact on the organizational growth of foreign-invested companies including socio-cultural and demographics, technology, economic condition, ecology and physical environment, and political-legal. In every investment, understanding customs and behaviors of a certain country is one of the important factors to be successful in foreign markets. ...