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Situation Analysis Report: Marks and Spencer Plc. - Essay Example
The purpose of the report is to identify Marks and Spencer’s current market position relative to its products and to provide information and data that can aid in making decisions with respect to marketing Marks and Spencer’s products so as to prevent a crisis and to reverse current declines in sales…
This situation analysis report examines the market conditions and the external and internal environment that led to the 1998 crisis for Marks and Spencer. It has as its primary purpose the identification of the factors that led to the crisis and the appropriate strategies utilized for reversing the crisis of 1998. Therefore a SWOT analysis is conducted with a view to identifying each of the pre-crisis factors, the crisis factors and the appropriate responses. This report concludes that Marks and Spencer had grown complacent in its brand and had not taken advantage of the opportunities accorded it for communications marketing strategies. Marks and Spencer also failed to identity the threat posed by not taking advantage of this opportunity. This report concludes by identifying ways that Marks and Spencer can improve its market share and return to the market force it once was.
Essentially, this report identifies the extent to which long years of success in single branding and extending and mixing product ranges led to complacency for Marks and Spencer. The result was an unexpected and unanticipated decline in profits and sales in 1998. This complacency reflected a disconnect between Marks and Spencer and its consumers, putting the company at a disadvantage among its competitors and forced Marks and Spencer to redefine its brand and to its marketing strategies so that it made itself relevant among consumers once again. ...