The newly launched M&S site has yet to gain a foothold in its own High Street consumers who are currently shopping online with its competitors (The Telegraph, 2014). This unique brand strategy makes its own brand has become endemic in the United Kingdom as part of shopping culture, while Marks & Spencer thus have unmatched brand equity. All work is written to order. Products of Marks & Spencer (M&S) It made a massive investment in an automated home delivery warehouse which has struggled to cope with demand. of employees. Marks & Spencer Place & Distribution Strategy: Following is the distribution strategy in the Marks & Spencer marketing mix: Marks & Spencer is an international brand which has got more than 1000 stores operating in more than 50 countries. *You can also browse our support articles here >. Only 18.5% of its clothing and home sales were online. Advantages and disadvantages can be attributed to internal factors while opportunities and threats can be attributed to external factors. While sales in the clothing branch of the company are falling M&S, has a strong hold in the food business with a successful specialist strategy leading to an increase in sales. London: Marks & Spencer Plc. Multiple initiatives including adding new sub-brands such as Autograph and Per Una, attracting employees from rival companies as well as launching a website in 2014 have been introduced in an attempt to strengthen the clothing arm of the business and thus reverse a decade of market share decline in what was once considered the companys most profitable business (The Telegraph, 2014). The present assignment report is discussing about proper market research that help Marks and Spencer (M&S) to identify their growth and several marketing opportunities. Keywords: M&S; Marks & Spencer; SWOT; PESTEL; Porters Five Forces; Strategy; Value Chain Analysis. Welcome to the M&S merry-go-round. At the other end, fashion brands such as Zara, H&M, Gap and Next are targeting younger, fashion-oriented clientele with their latest fashions and affordable prices. Technology trends in fashion. Copyright 2003 - 2023 - UKEssays is a trading name of Business Bliss Consultants FZE, a company registered in United Arab Emirates. 3. It is estimated that currently the latter group comprise close to eight per cent of the workforce in the UKs M&S stores (Dentons, 2016). However, weaker consumer confidence following the Brexit vote (Reuters, 2016) is likely to affect sales growth and result in the company cutting its prices and focussing on its consumer needs. 4 year average Net Profit Margin. Retailing 2015: New Frontiers. There are future opportunities in expanding their brand into China & India. 1) Five Forces model provides a very useful analytical framework to study the competitiveness of industry, competition in the corresponding morphology and how to design a strategy. Unstable political and economic conditions in several international franchise markets in which the company operates such as the Middle East, Russia and Ukraine pose a threat to both franchise receivables and on the companys development in these areas (Marks & Spencer, 2015). M&S is a listed company under the London Stock Exchange. Here you can choose which regional hub you wish to view, providing you with the most relevant information we have for your specific region. Registered office: Creative Tower, Fujairah, PO Box 4422, UAE. Marketing Excellence 2 . However, post the 1990s M&S experienced a rapid decline in sales and was forced to outsource globally and work with overseas suppliers who offered much more competitive pricing. Annual Report and Financial Statements. According to differences in consumer demand will be divided into different consumer market segments, so that enterprises can more effectively meet their needs. M&S News See all articles Today 5:36 AM Whilst this strategy led to a short-term decrease in sales, it resulted in a long-term increase in consumer confidence due to British customers preference and desire to seek both value and quality. Marks & Spencer Competitors Marks & Spencer competitors include Volvo IT, Tesco Corporation, PACCAR, MS Global Inc and Phoenix Technology Services. M&S, currently operating in 59 territories across Europe, Asia and the Middle East via wholly owned retail businesses, retail joint ventures, retail franchise operations or websiteonly territories (Marks & Spencer, 2016) is developing particularly well in priority markets such as India, while its food business is growing in regions such as Hong Kong and Europe (Marks & Spencer, 2015). Its 180 supply chainrelated targets backed by financial incentives for its buying teams include ethical trade, energy efficiency and sustainable sourcing and are helping make M&S the worlds most sustainable retailer (Purt, 2012). Two trends the retailer should take into consideration are the different generations customer preferences for fashionable items and/or the growing perception that British produce is no longer considered to be of high quality (Experian, 2015). Retrieved July 2016, from Marks & Spencer: http://corporate.marksandspencer.com/blog/stories/thinkinnovation-how-we%E2%80%99re-encouraging-innovation-across-mands%E2%80%99. M&S is a leading British retailer, headquartered in London. In the retail sector in which Marks and Spencer operates, competition is strong and growing the company is facing intense rivalry from supermarkets chains, homewear stores and fashion retailers. MBA Skool is a Knowledge Resource for Management Students, Aspirants & Professionals. As a result, suppliers are also with the development of the development of Marks & Spencer. (2014, September 1). However, from 1998 to 2001, M&S operating profit had been on the decline. From a market positioning perspective, since the 20th century, 30 years, M&S makes middle-class as a sale object, and make every effort to provide them with quality-price ratio appropriate goods. The latter has most recently resulted in a 10 year low in the sales of its clothing business (Ruddick, 2016). One of the companys initiatives, Behind the Barcode, gives consumers an omni-channel experience by enabling them to order items online for home delivery or in-store collection by scanning a product in-store (Thomson, 2012). The essay explains what the important parts of Marks and Spencer's (M & S) current and historic strategies are. Access in-depth analysis, premium industry data, predictive signals, . When compared with the 26 weeks to 28 September 2019, M&S found in the half-year to the 2 October 2021 that while overall clothing and home sales were down 1%, online sales for the category were up. 4) The bargaining power of buyers. A case study analysis report of Marks and Spencer . Second is to determine the target market. Heres how the Brexit Referendum is affecting the UK economy so far. The main way to differentiate their market position, that is, to determine a companys market position is different from other enterprises or image. It is one of the pioneering and oldest retail chains in world and still a leading retail business entity in many country including UK and Middle East. Standardization is Marks and Spencers consistent style, product quality, type and design of store layout, product display, and even the staff of the service program has a meticulous standard. Quizzes test your expertise in business and Skill tests evaluate your management traits. London: Routledge. Too many shops: M&S is closing a third of its 300 high . Free resources to assist you with your university studies! Study for free with our range of university lectures! An in-depth SWOT analysis that assesses both the internal (strengths and weaknesses) and external (opportunities and threats) environment of the company is given. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360 view of the company. The Marks And Spencer Group Plc VRIO Analysis shows that Marks And Spencer Group Plc's employees are a valuable resource to the firm. Due to a comparatively higher cost structure, the company has also suffered market share losses when entering new markets (Marks & Spencer, 2015). All Rights Reserved, A Marketing an Analysis of Freespirit Retail Outlet, Essay on Zora Neale Hurston, the Gilded Six Bits. The 20th century, 80s, it began to lease satellite transmission, integrated global marketing data, the commodity management, logistics and distribution, global procurement and data processing of all applications of advanced modern information technology to significantly reduce the cost, annual savings of more than competitors) 750 million of dollars in spending. Analyse PESTEL for Monitoring your Business or Organization. The industrys competitive position and comprehensive degree lead to economy structure changes within industry, to determine the intensity of but from industry inner competition and determine the ultimate profitability within the industry. Commercial retail enterprises implement differentiation strategy with mainly the work to be undertaken: first, accurate positioning for the enterprise. As regards its clothing business, the threat of substitutes is high copying or imitating existing designs is becoming ever easier. (2015). The company was founded by Michael Marks and Thomas Spencer on September 28, 1884 and is headquartered in London, the United Kingdom. This saved a lot of costs, and profits began to improve. Over 80,000 employees form a part of the workforce globally. However, in the fiercely competitive market environment, operational management strategies are quite important for retailers to obtain a competitive advantage and access to greater income. The companys 914 UK stores 222 owned and 349 franchises of Simply Food stores as well as the 302 full-line clothing and home stores and an e-commerce platform with over seven million registered users serve 33 million customers in two divisions (food and general merchandise) with a revenue of 5.2 billion and 4.0 billion respectively. Threats in the SWOT analysis of Marks & Spencer. Compare Marks & Spencer to its competitors by revenue, employee growth and other metrics at Craft. Marks & Spencer reported strong third-quarter results. Retrieved July 2016, from Fortune: http://fortune.com/2016/07/11/brexit-referendum-uk-economy/, Rogers, T. (2012, October 4). Marks and Spencer is a British retail giant specialised in apparel and food industry. SWOT analysis of Marks & Spencer analyses the brand by its strengths, weaknesses, opportunities & threats. Because it takes a specific consumer group focused to meet their needs, so companies can be more economical than the other competitors, more thoughtful to meet their needs (Mittal, 2004). In 1992, the company has 280 chain stores in the United Kingdom with sales of 75 billion dollars. The company is employing approximately 80000 people in 2020. The companys new focus on providing customers with a superb experience including in the online sector on top of its High Street chains has enabled the growth of M&S.com in the last quarter of 2014 (Marks & Spencer, 2015). According to Joseph L. Bower, Christine Harris of the case study following are the critical resources that are valuable to the firm - financial resources, human resources, marketing expertise, and operations . Customer firstly thinks a lot of commodities with high-quality and low price, which is Marks & Spencer sought-after standard. Retrieved July 2016, from The Economist: http://www.economist.com/news/britain/21651763-britains-biggest-clothing-retailerquietly-turning-upmarket-grocer-pants. A dedicated digital lab team of 150 in-house software engineers is working to make sure the company stays at the forefront of technological developments (Marks & Spencer, 2016). (2011, July 28). The week ahead in business and finance. product, price, place, and promotion strategies of Marks & Spencer. M&S Bank. - provides you an in-depth strategic SWOT analysis of the company's businesses and operations. According to analysts, M&S has been favourably affected by the European Commissions free trade agreements which have made product imports much easier (EC, 2013) and have led to a decrease in sourcing costs. Short Term: Mid-Term: Long Term: Trends: Bullish: Bullish: Neutral: . A value chain analysis is a strategic tool use to identify the activities in and close to an organisation which lead to the creation of a product or a service. Organisations like Wal-Mart, Zara, Subway, and Tesco are few of the major competitors in the market. SWOT Analysis Of Marks & Spencer is brand-based. Through the above analysis, M&S has made a great progress, getting over lots of difficulties. Technical analysis trends MARKS AND SPENCER GROUP PLC. By examining these, a company is in a better position to consider likely implications and minimise any future organisation-related risks (Makos, 2014). With the emergence of electronic commerce, M&S also creatively establish a website, combining traditional retailing with e-commerce. London: Retail Week. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! M&S approach is: from store to collect from the customer views and demands for commodities, and then from Marthas technical development department for product innovation and design (or with the manufacturer to design), and then delivered the manufacturer to produce the final re M&S Sales through distribution systems. For M&S, basic earnings per share are 1,6p, whereas for NEXT Plc, basic earnings are share is 416,7p. Retail enterprises further reduce business costs through the use of POS (selling real-time systems), MIS (management information systems), EDI (electronic data interchange), EOS (Electronic Ordering System) and other modern management techniques (Shankar, 2004). Retrieved July 2016, from The Guardian: https://www.theguardian.com/money/2016/jan/05/ms-raises stakes-battle-current-accounts-marks-spencer, Butler, S. (2015, May 20). However, despite considerable barriers to entry, the company is facing incoming competition in both its clothing and food sectors. Even though the company still holds the first position in terms of sales by value, its 14 quarter slump preceding a one-off rise in sales in the first quarter in 2015 makes it likely that the company will be moving its focus from clothes to food (The Economist, 2015). BBC. The former, once the flagship of the company, has suffered a considerable decrease in its market share over recent years and reached a ten-year low in terms of sales in the second quarter of 2016 (Davey, 2016). This section covers SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP of more than 2500 brands from over 20 industry sectors. M&S being a global retailer means they are exposed to different political facts in countries they work in. Marks & Spencer is one of the UKs leading retailers with over 21 million people visiting their stores each week. Its own M&S.com was only launched in 2014 after three years of development (The Telegraph, 2014). The strengths of Marks & Spencer looks at the key aspects of its business which gives it competitive advantage in the market. SWOT Analysis is a proven management framework which enables a brand like Marks & Spencer to benchmark its business & performance as compared to the competitors. The company has also launched big data projects such as predictive analytics system and allocation replenishment (Thomson, 2014), adapted its digital strategy using the mobile first approach thus answering the needs of consumers who are increasingly accessing the latest trends via mobile. M&S decisively changed its thinking, making sell project focused on clothing and food, and expanding rapidly, with unprecedented turnover. 1st jan. Capi. Retrieved July 2016, from Marketing Week: http://www.marketingweek.com/2015/07/15/marks-spencer-brand-perceptions-on-the-rise-as-it-israted-one-of-the-uks-top-brands/, Whitehead, T., & Foster, P. (2015, February 22). Threats are those factors in the environment which can be detrimental to the growth of the business. ACCESS NOW More on Marks & Spencer News In the case of M&S, the five forces that influence the industry are as follows: 1. Marks & Spencer is one of the UKs leading retailers with over 21 million people visiting their stores each week. The companys food business is being rivalled by supermarkets such as Tesco, Sainsburys and Asda, and it is competing with clothing and homewear retailers such as Topshop, Zara and John Lewis (Retail Week, 2016). / The business strategy of marks and spencer. Competition: Very high: the levels of competition in the apparel, food, . WIN PERFECT CELEBRITY CHRISTMAS GIFTS. Having only decided on implementing a digital transformation strategy in 2010, the company has been a latecomer into the digital user-centred retail space. In Marks & Spencer SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors. . Retrieved July 2016, from Reuters: http://uk.reuters.com/article/us-m-s-outlook-idUKKCN0ZN0EH. Guinness World Records reveals that volume of the companys flagship store in London MarbleArch is 3700 dollars per square foot. Marks and Spencer Group PLC does not currently have any hardcopy reports on AnnualReports.com. Think Innovation: How were encouraging innovation across M&S. Some of the threats include: Competition: The main competitors of Marks & Spencer are Uniqlo, Gap, Tommy Hilfiger, Zara, and United Colors of Benetton. The companys international expansion via franchise agreements gives it a strong competitive advantage compared with other UK businesses that trading only on the UK market (Rogers, 2012). RESEARCH PAPERS AND ESSAYS . ). Two external factors that affect the retailer include changing values in the population and a generation shift with the Baby Boomer generation retiring, the company has to redirect its attention to Generation X and the Millennials. Strategic Business Analysis of Marks & Spencer. Generally speaking, potential market segments should also have the following three conditions: 1) adequate, the reality of unmet demand or potential demand; 2) Enterprise has ability to provide products or services to meet these needs, and helping the can map; 3) Business in this market segment can achieve certain competitive advantage. After companies establishing their own unique brand image, they should make long-term planning to maintain its own brand image (Harry J.P., 2000). M&S has multiple channel operations and allows customers flexibility in terms of order and delivery options, including online shopping. Marks & Spencer and suppliers have far more than a general partnership, but rather become a complicit relationship to work. However, in the fiercely competitive market environment, operational management strategies are quite important for retailers to obtain a competitive advantage and access to greater income. Marks & Spencer plc is an iconic brand which has been trading since 1884 and is still considered one of the UKs top ten brands today (Vizard, 2015). The internal and external evaluation of the Marks and Spencer is discussed in the study. First, it will introduce the history of M&S and different market segment in M&Sand have an overview of Porters models of competition. Plan A, the companys social, ethical and environmental business commitments, have also helped the retailer build a strong brand positioning centred on responsible sourcing, waste reduction and community care (Marks & Spencer, 2016). Finally, it uses Porters global generic strategy to analysis M&S, to face the future social development, to further advantage, discussing how M&S attract different customers by using different strategy in the global environment. On the one hand, Marks & Spencer suppliers guarantees strict demands on product quality; the other hand, Marks and Spencer takes it as its responsibility to help suppliers reduce costs, care providers technological transformation and staff welfare (Tony Grundy, 2003). But the retailer has gone from turnaround plan to turnaround plan since the turn of the millennium, and time is starting to run out. In 2015, this strategy helped the company maintain its market share in most of its markets and achieve strong sales in key owned markets such as Hong Kong or India (Marks & Spencer, 2015). After the First World War, due to a shortage of materials, a penny sales strategy is difficult to sustain. . Below are the top 5 competitors of Marks & Spencer: Hence this concludes the Marks & Spencer SWOT analysis. However, despite its successful specialist positioning. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. The geographical diversification inherent in the international strategy of M&S mitigates any potential risks of being overly exposed in a single country whilst its two-fold international business (food and clothing) is providing even more stability (BBC, 2013). Large-scale commercial retail enterprises shall include at least the brand connotation of the brand of goods, services, brands, and on the basis of the previous two derived from the three-tier corporate brand meaning. Let us start the Marks & Spencer SWOT Analysis: For Marks & Spencer, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position. Marks & Spencer's major business is in UK . It has moved from a platform hosted by Amazon to its own web platform which was launched at the end of 2014 to provide more delivery options and streamlined multichannel services. For customers to eat well and well dressed has always been motto of M&S, which is also main historical reason for 100 years of food and clothing at the same time. Threat of new entrants (barriers to entry). Marks and Spencer (M&S) is one of Britain's oldest and best known retailers of clothing, foods, home ware. (2015). (2016). Marks & Spencer: Quality worth paying more for. Should M&S give up on clothes and focus on food? First, they can through cost analysis identify the greatest impact factors on the business cost, controlling systematically cost. Marks & Spencer is one of the leading brands in the lifestyle and retail sector. In addition, the strategy also adopted by the choice of the target market to find the weakest link in the existing competitors cut into, to avoid a competitor with a strong head-on collision. Along with that, the change in the social market is appearing as the new challenge in front of the Marks and Spencer, as customers taste and demand are changing almost every day. The difference amongst the gross profit alone is a colossal 700%, with the . In this study, strategic analysis is done on Marks and Spencer. In combination with the reduced buying power of the pound and with 1.1 billion in revenue coming from international markets, the company needs to put together a strategic plan on how the likely impact of Brexit can be minimised. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. To face the future social development, to further advantage, M & S should be good at using the Porters competitive theory, adopting strategy and measures suited to the situation on their own (Dinesh, 2008; S. Ambec, 2002). The company has its main presence in UK where it operates over 700 stores. Some factors like increased competitor activity, changing government policies, alternate products or services etc. At the lower end of the market, under the umbrella of ASDA, brands such as George and Matalan are targeting previously loyal M&S customers with lower prices. Marks and Spencer Group plc announced that Fiona Dawson has been appointed a member of the Remuneration Committee with immediate effect.. | January 17, 2023 . Not all segments have value to enterprise. To find the main sources of competitive advantage that Tesco has over its competitors an analysis of the structure of the industry should be under-taken . Competitors were obtaining products from sources outside of the UK at much cheaper prices while M&S continued to maintain rigid loyalty towards expensive local suppliers. Porters 5 forces analysis Global Telecom Industry. The employees are also loyal, and retention levels for the organisation are high. In 2007 Marks & Spencer (M&S) was the UK's largest clothing retailer with a market share of 11.1%. Following are the opportunities in Marks & Spencer SWOT Analysis: 1. The report presents an interesting business case and competitive analysis for M&S which illustrates that only an educated business strategy for implementing market segmentation, bolstering online presence and reducing reliance on UK market will help M&S overcome its present challenges and tread on a trajectory of growth and success. This paper first introduces the history of M&S and different market segment in M&Sand have an overview of Porters models of competition. Click the button below to request a report when hardcopies become available. Marks and Spencer is known to the world due to a standardized and information-oriented management style of supply chain management and suppliers to make it a truly meaningful win-win situation. Marks & Spencer. When enterprises have become a cost leader, they can effectively compete against the other forces of competition, obtaining advantage in competition. Imitating existing designs is becoming ever easier: //fortune.com/2016/07/11/brexit-referendum-uk-economy/, Rogers, T. ( 2012, 4! Clothing business ( Ruddick, 2016 ) only launched in 2014 after three years of development ( the,... Resulted in a 10 year low in the study company registered in United Arab Emirates too shops... Making sell project focused on clothing and food,, product uniqueness & intangible assets like brand Value,. British retailer, headquartered in London, the threat of new entrants ( barriers to,. 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