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Marks and Spencer Company marketing Audit. - Essay Example
Pages 10 (2510 words)
Marks and Spencer is one of the leading retailers of clothes, home wares, financial services, and food in the United Kingdom. The company owns over 700 stores in the United Kingdom and 300 across 40 countries in the world. Marks and Spencer has been operational since the year 1884. …
Marks and Spencer is listed on the London stock exchange, and it is a constituent of the FTSE 100 index. The company, which is colloquially known as “Marks and Spencer ”,“ M&S or “Markies”, was characterized in the early 20th century of selling British made goods giving it a reputation. For the purpose, of the study the company in last few faced with economic turmoil’s hence moving towards “ back to basics” strategic while trying to survive the competitive market. The company’s back to basic strategies has not been successful in solving the problems thus necessitating an overhaul in their marketing and strategic audit (Gordon, 2009). In so doing the company will be able to gain a broader understanding of market structures while setting standards in values quality, innovation, customer trust and value services. Through strategy audit, the company will be able to answer financial crisis and the economic recessions.
For marketing mix, Marks and Spencer is just in place in that their mix conforms to the products, place, price, and promotion. The company is averse to marketing because of convection advertising and brand offering. Through it, they have promoted new services and products in new store openings. The position of the competitor's store has made the company restructure their prices resulting in low and high prices depending on the decision of the finance office and the availability of a competing store. ...
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