The paper will speak about Marks and Spencer which is one of the leading multinational retail company headquarter in London. The company has 703 retail stores in United Kingdom and 361 stores in 40 foreign countries across the world. …
Marks and Spencer made its reputation in the early 20th century by selling “British made goods” in England. The company introduced St Michael brand in 1928 which was a brand of clothes as well as foods. The company started expanding in 1957 in continental Europe and Ireland and also started selling of Asian food in the European market. The company got reputation for doing business through fair value of money and by this it got trust and brand value from its customers. The history of M&S is known as “iconic retailers of British Quality Goods”. The company started concentrating on the customers’ taste and preferences at the time of marketing myopia when other companies used to concentrate on the product quality by their won decision and choices. For this effective marketing and promotional strategies through the objective that customer is always and completely right the company got high reputation and brand image for4 its priority to the customers buying behaviour and preferences. After 1970 the company redesigned its packaging style for the food products and started selling food products by showing date of manufacturing. This was one of the important strategies of the company by which it generated huge customer base for the transparency and responsibilities to the customer in terms of ethical busi8ness practice. Since the inauguration of the penny bazaar by Michael Marks in 1984, five key principles have been followed by the company till now. These are quality, value, services, trust and innovation. The company came into Asia by opening first st5ore in Kabul in 1960. It had faced a continuous loss for a long time after 1973 in Canada and in 1999 all the 38 shops were closed due to unprofitable business. The company entered into France by opening few...
This paper stresses that the company needs to promote this awareness programme as a part of solid waste positive environment. Generally the customers do not use the packets of the products and these are thrown out after taking away the goods at home. These packets can be the carry bag of per purchase of goods and also can be packets of grocery and food products.
This report makes a conclusion that Marks and Spencer has experienced a long tough journey of its business from the very small start of the company. The company has been focusing and emphasised on the customers taste and preferences from its history and developed the brand present image by the trust and reputation from the customers. The company is very much popular in comparatively higher income group of people who only desire the product quality even in higher price. So, it needs to offer medium range priced products to wide its target segment of customers. This will generate more revenue and reduce the risk of competitive disadvantage. The company is very much dedicated to the society, customers, investor, supplier and the environment as these are the major contributor its success and current market share and position in the industry. If the company expand its target segment, it will be one of the leading retail companies in the world in near future in terms of revenue, social responsibility and customer satisfaction through efficient service provided by the company. ...
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(“Retail Marketing Essay Example | Topics and Well Written Essays - 2750 words”, n.d.)
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(Retail Marketing Essay Example | Topics and Well Written Essays - 2750 Words)
“Retail Marketing Essay Example | Topics and Well Written Essays - 2750 Words”, n.d. https://studentshare.net/marketing/9586-retail-marketing.
This definition suits the retailers business as they don’t have many resources to waste. They have fewer resources and they have to use all of them more efficiently. Retailers are generally small traders who sell their products in a small quantity. Retailers usually do not deal in larger quantities.
Initially, the retail company concentrated its activities in the United States, but later directed its efforts to create other market outlets in the world. Marketing of the retail product of the company has been successful, not only in the United States but also in London.
They often sell these goods and services to the consumers at a profit (Burrow and Bosiljevac, 2012; pg. 09). The retailing process may be conducted in fixed locations such as in markets or stores. In other cases, it often conducted through door-to-door delivery.
Marketing is a customer oriented business phenomenon that involves accomplishment of the need of both internal along with external customer. It also entails to balance the requirements of stakeholder of the organisation. Marketing objectives and strategies are developed with an intention of meeting corporate objectives.
national Retailing 17 6.Conclusion 18 Reference 19 1. Introduction The effect of globalisation has affected the entire world economy as well the activities of human. The most important aspect of the globalisation is the development of international trade and business.
In the text mentioned that retailing is the direct sale of services and goods from businesses or individuals to the consumer. Retailers are part of the supply chain, which is an integrated system. Consequently, a retailer usually buys products or goods in large amounts or quantities directly from the manufacturers or wholesalers.
Retail marketing can be done in either one location like stores or by delivery. Retailing strategy involves how a business sells its products to its targeted customers. All retail business has to come up with decisions about all the details of their marketing mix (Berman, and Evans, 30-90).
Marketing mix comprising of four elements – product, price, place and promotion are basic factors in retail marketing. Over the years, marketing message has been stated as transformation through Omni-channel and a way to enhance customer
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