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Evaluation of the Company's Strategy - Assignment Example
Pages 9 (2259 words)
Strategic Situation Report for M002 “MARKS & SPENCER” MR.CHALERMKIAT SEEDOKMAI ID : 4805430 Executive Summary Marks and Spencer (M&S) being the leading retailer in UK enjoys the position of having loyal customers in spite of the ongoing global recession…
M&S caters to niche customers because the products are expensive and exclusively branded. This allows the company to focus on the customer’s demand pattern and provide maximum customer satisfaction. With the declining economic climate, M&S has invested in their pricing to ensure premium quality at unbeatable price. M&S encourages its suppliers to remain aware of changing fashion trends to reduce the risks of over-production. The M&S brand is known for its quality as opposed to quantity and hence customers buy less quantity but high quality. Most of the M&S clothing range within great prices and hence are able to maintain their loyal customers. Additionally, the customer loyalty that the company enjoys is great for its market share as well as its profit margins. The company has several drawbacks. M&S products cater mainly to older population and this limits the perspective of younger generation. Moreover, M&S is not quick in adapting to changing fashion trends like its competitors and critics often tag their clothing as insipid and out of fashion. Also, the products are costlier than its competitors. With its resources like exclusively branded products, high quality customer service and trained management team, the company can look forward to a bright and profitable future. Contents I. Introduction ……..………………………………………….….......................4 II. ...
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