Too many shops: M&S is closing a third of its 300 high . (2016). Some operation management theories are applied in the process of analysis. Further developments in this regards can present opportunities for the company (Brignall, 2016). Registered office: Creative Tower, Fujairah, PO Box 4422, UAE. 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. Second, establish and run enterprises to brand image. Consequentially, the slight decline of sales and share prices in 2008 were followed by steady improvements in both these indicators a year later, thus escaping the hard to reverse grip of discounted prices felt by many other competitive retailers (The Marketing Society, 2010). Industrial cluster is defined as a specific area, with competitive and cooperative relations, and geographically concentrated, with interactive relevance enterprise, specialized suppliers, service providers, financial institutions, related industries such as manufacturers and other relevant bodies composed of groups. A shift from a strong focus on products to a more consumer-focussed strategy has benefited the company. M&S is in a good strategic position to enjoy the benefits of an altering media landscape, the proliferation of social networks and a rising mobile wave. This section covers SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP of more than 2500 brands from over 20 industry sectors. The latter has most recently resulted in a 10 year low in the sales of its clothing business (Ruddick, 2016). 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. 5. Porter through the study of industrialized countries finds industrial cluster is a common phenomenon in the process of industrialization, in all developed economies, are it is clear that a variety of industrial clusters. In the period up until the mid 1990's M&S had a market leading share of the clothing market. It has over 1000+ stores present across 40 countries, 5. Marks & Spencer is often referred to as the nation's favourite retailer. Third, long-term to maintain brand image. Several shifts in the consumer market such as the increasing price sensitivity of customers seeking classical designs, increasing preference for fashionable items or the disloyalty of UK consumers to British products are increasingly affecting the retailer (Cunningham, 2016). The Essay Writing ExpertsUK Essay Experts. The group's international business accounted for 7.1% of turnover and had grown to 219 franchise stores in Compare Marks & Spencer to its competitors by revenue, employee growth and other metrics at Craft. 2,300,000. Technology trends in fashion. 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). (2011, July 28). All work is written to order. The article below lists the Marks & Spencer SWOT, competitors and includes its target market, segmentation, positioning & USP. A SWOT analysis assesses the external environment and internal capabilities of a company (Harrison, 2015). Due to a comparatively higher cost structure, the company has also suffered market share losses when entering new markets (Marks & Spencer, 2015). In addition, the competitive retailing landscape is going through another major transformation the steady rise of online and catalogue shopping and competitors offering goods of almost the same quality at affordable prices as well as convenient and enhanced in-store experiences for customers (Retail Week, 2016). If you need assistance with writing your essay, our professional essay writing service is here to help! M&S decisively changed its thinking, making sell project focused on clothing and food, and expanding rapidly, with unprecedented turnover. (2014, September 1). 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. Enter for a chance to WIN a signed copy of Holly Willoughby's new book, 'Reflections', or an exclusive personalised video message from England Rugby star, Maro Itoje! Being a popular brand, they need to protect their brand from misuse of fake imitation products. 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. This resulted in customers cancelling delayed orders (Butler, 2015). SWOT Analysis is a proven management framework which enables a brand like Marks & Spencer to benchmark its business & performance as compared to the competitors. Volatility Over Time: MKS's weekly volatility (6%) has been stable over the . In J. Harrison, Essentials of Strategic Planning (pp. 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. Most notably one is a billboard in his stall: Do not ask the price, a penny can be. This simple and eye-catching slogan quickly spread among the people in the middle and lower classes. Over 80,000 employees form a part of the workforce globally. 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). M&S being a global retailer means they are exposed to different political facts in countries they work in. Increasing terrorism attacks across Europe are also impacting consumer confidence and retail spending (Marks & Spencer, 2016). Marks and Spencer Marketing Mix: Marks and Spencer, commonly called M&S, is a public limited company of British origin. As regards the companys food business, of the four big supermarkets in the British market Tesco, Asda, Sainsburys and Morrisons Tesco and Sainsburys have already developed a high quality range of foods which were previously considered a traditional market for M&S (Ruddick, 2013). This report will introduce the history of M&S and different market segment in M&S, and analysis how M&S can running there business in the competitive environment. Revenue. Think Innovation: How were encouraging innovation across M&S. The low-cost of commercial retail enterprises, lead to lower barriers to entry the retail industry, retail businesses are always faced with the threat of new entrants. Business activities are independent and dependent. London: Dentons. WIN PERFECT CELEBRITY CHRISTMAS GIFTS. Health and safety regulations, consumer rights, environmental, antitrust and other legal factors affect the company. In 2015, M&S experienced stalled growth in its international business due to global uncertainties, substandard infrastructure and decreased profitability in new markets which lead to the closing of twelve stores in 2016. Retrieved July 2016, from The Telegraph: http://www.telegraph.co.uk/technology/internetsecurity/11959667/MandS-website-temporarily-suspended-after-leaking-customers-details.html, Davey, J. Here's the swot analysis of Marks and Spencer as follows; Strengths of Marks and Spencer Global Brand. Marks And Spencer: A SWOT Analysis. Retrieved July 2016, from TaylorWessing: http://www.taylorwessing.com/download/article_fashiontech_trends.html, The Economist. The top 10 competitors average 5.7B. Close cooperation of both sides ensures Marks and Spencer to achieve its corporate objectives provide its goal customers with high-quality product within the ability to purchase.. 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. Both Marks and Spencer and John Lewis cater to a young audience with a good E-Marketing strategy to drive their business. Second, analyze how M&S can running there business in the competitive environment, trying to explain more different market segment in M&S and how the different market segment works together, analyzing their competitive advantage in this cloth industry. A general overview of Marks & Spencer is followed by a PESTEL analysis which offers a comprehensive look at the companys strategic business environment. Marks & Spencer is one of the UKs leading retailers with over 21 million people visiting their stores each week. The renowned company was established in 1884 by the founding partners Thomas Spencer and Sir Michael Marks. Marks and Spencer faces some great competitors both in the UK and abroad. The international franchise businesses of M&S in the Middle East, Russia and Ukraine also suffered significant decline due to geopolitical instability, local currency fluctuations and decreased consumer demand (Marks & Spencer, 2015). The company from the early 20th century has become a national chain store. Marks & Spencer profits jump for first time in four years. Competition is so fierce that Marks and Spencer faces a big threat of losing its scope in the business. 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. 3) The bargaining power of suppliers. Different generations bring perceptible shifts in consumer behaviour, from the way customers do their shopping, the channels and technology they use to how products are perceived. MBA Skool is a Knowledge Resource for Management Students, Aspirants & Professionals. Michael. M&S is investing in its digital development which is evident through the launch of marksandspencer.com in 2014, engaging with 2.6 million people via social media, platforms and social media websites such as Twitter, Instagram and Facebook (Ratcliff, 2014). Third is using capital operation, expanding the enterprise scale. The content on MBA Skool has been created for educational & academic purpose only. Almost no food online M&S will begin selling its main food ranges online on 1 September, after missing out on the market for years. The move resulted in a considerable decline in the bargaining power of its British suppliers (BBC, 2013) and, hence, the bargaining power of its supplier is currently low. As Britain's favourite retailer loses relevance to today's shoppers, Retail Week asks: can M&S be saved? One example is the lack of a charge on plastic carrier bags and how this is affecting the companys efforts to implement sustainability measures (Vaughan, 2012). The advantage that M&S is different from these competitors is its depth and breadth of product portfolio and a unique marketing strategy (David Campbell, 2009; Lowson, R.H. 2001). They used their resources and subsequent capabilities to exploit their differences from the competitors and create competitive advantage by: *Empowering suppliers/manufacturers with design responsibility *Closely managing supplier relationships The marketing strategy of M&S is to emphasise the quality and style of its products. The company was too slow to close or move outlets to busier spots and did not invest enough in updating. Marks & Spencer brand perceptions on the rise as it is rated one of the UKs top brands. Its own M&S.com was only launched in 2014 after three years of development (The Telegraph, 2014). From raw material procurement, manufacturing, to sales, they strictly control the quality, allowing consumers to taste delicious food while taking care of nutrition and health. Marks and Spencer has nearly a thousand of suppliers, and suppliers Dibos companies having more than 100 years cooperation, with more than 60 suppliers with more than 50 years of partnership. In 2016 the company has also become completely transparent about its supply chain by publishing a map of where the company sources its products (Marks & Spencer, 2015). Essay, 13 pages (3,512 words) Download PDF; DOCX; The business strategy of marks and spencer Subject: Others. Retrieved July 2016, from The Telegraph: http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/10647939/Marks-and-Spencerlaunches-new-website-to-replace-Amazon-platform.html, Vizard, S. (2015, July 15). Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. Weakened consumer confidence and a decrease in the buying power of the pound have already had an impact on sales growth, whilst the decision is expected to affect the retailer in various other ways in future years. 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. 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. 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, in 20142015 the company experienced difficulties in marrying its online operations and distribution from its Castle Donington centre. Comparing with 2017, the EPS ratio for M&S has significantly decreased (from 7.2p to 1.6p in 2018), whereas, for NEXT, this ratio has decreased only slightly (from 441p to 416.7p in 2018). Marks & Spencer hired brand and marketing manager Sophie Jacobs to act as a "custodian" of its brand characters earlier this year, as it aims to make them bigger "than ever". 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). Marks & Spencer. The basis of obtaining competitive advantage is to derive a competitive strategy that provides the customers with what they need or want in a more effective way than the competitors. 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). M&S offers clothing, home products and luxury food products both in store and online (Marks &Spencer, 2015). Marketing Excellence 2 . In this area, Marthas main competitors are facing the department store, and Saier Fu Leach youth-oriented casual relaxed style of the shops, in addition to including many other stores. When enterprises have become a cost leader, they can effectively compete against the other forces of competition, obtaining advantage in competition. In addition, in 2009 the company set annual recycling targets (Waste Management Word, 2010) and in 2012 achieved zero waste to landfill (Russell, 2012). Continuous investment in the scheme has resulted in numerous Plan A products, a Plan A incubator for the development of sustainable products and services as well as the first UK ecofactory (European Commission, 2011). The company's food business is being rivalled by supermarkets such as Tesco, Sainsbury's and Asda, and it is competing with clothing and homewear retailers such as Topshop, Zara and John Lewis (Retail Week, 2016). Outbound logistics concerns the transport, storage and delivery of goods going out of a business. Abstract Strategic position: Marks and spencer is operating in a very competitive environment and there are many factors that affect the company in the outside environment. MOST RECENT 2022 Annual Report. European Commission. The profile has been compiled by GlobalData to bring to you a clear and an unbiased view of the company's key strengths and weaknesses and the potential . But the retailer has gone from turnaround plan to turnaround plan since the turn of the millennium, and time is starting to run out. 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. 2. Also read Marks & Spencer SWOT Analysis, STP & Competitors. It is one of the most powerful retail brand with a top of the mind recall. The company has traditionally invested in TV and magazine advertising as well as in-store visual merchandising. Advantages and disadvantages can be attributed to internal factors while opportunities and threats can be attributed to external factors. With sustainability becoming an increasingly necessary and lucrative strategy, the company is ahead of its competitors in this area. Retrieved July 2016, from Pestleanalysis: http://pestleanalysis.com/category/pest-analysis/. Complexity and depth of different level of industrial clusters is different (Francisco J, 2009; Mohr, 2002). 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! The 133-year-old Marks & Spencer has been busy closing stores around the world and plans to close 53 wholly-owned stores . Marks & Spencer: Quality worth paying more for. Whether the company is well enough prepared to preserve its spot as the leading food and clothing retailer in the UK market and abroad remains to be seen. Despite a slight rise in April 2015, the companys clothing sales have being falling for four years in a row with the company facing its worst quarter since 2005 in the second quarter of 2016 (Davey, 2016). Free resources to assist you with your university studies! Marks and Spencer is one of the leading department stores and grocery retailers based in the United Kingdom (UK). product, price, place, and promotion strategies of Marks & Spencer. The project also summarises the different segments on . M&S entered the market in the late 1880s with a 'no frills' strategy (Johnson G & Scholes K. 2002. pp320-323). 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. Should M&S give up on clothes and focus on food? Marks and Spencer Group plc - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The strengths of Marks & Spencer looks at the key aspects of its business which gives it competitive advantage in the market. In addition, in the past couple of months various macroeconomic issues, falling commodity prices, pound fluctuations and a sudden drop following the Brexit vote caused consumer confidence to drop. We will be discussing Marks & Spencer's SWOT Analysis. A new partnership with Ocado has cost 750m, but will at least put M&S in the game. Marks & Spencer Group plc published this content on 16 January 2023 and is solely responsible for the information contained therein. In this study, strategic analysis is done on Marks and Spencer. 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. Annual Report and Financial Statements. SWOT Analysis is a proven management framework which enables a brand like Marks & Spencer to benchmark its business & performance as compared to the competitors. Guinness World Records reveals that volume of the companys flagship store in London MarbleArch is 3700 dollars per square foot. In addition, the recent Brexit vote is likely to have a substantial impact on the retailer in both its home stores and abroad. Its decision to maintain investments in innovations and brand-building advertising throughout the recession has successfully strengthened its brand positioning as a company offering high quality and good value products (Marks & Spencer, 2016). Marks & Spencer Foods is a 100% private brand. 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. 0 1 0. It may need to restructure its supply chain once it loses access to the EUs open market and UK citizens working in stores in the EU as well as EU nationals employed in UK stores may be affected when the freedom of movement of workers is no longer applied in the UK (Dentons, 2016). Some of the threats include: Competition: The main competitors of Marks & Spencer are Uniqlo, Gap, Tommy Hilfiger, Zara, and United Colors of Benetton. Sector and Competitors. Retrieved July 2016, from The Guardian: http://www.theguardian.com/business/2015/jul/16/marks-spencersclothing-director-set-to-quit-after-sales-slip, Makos, J. Second, it is to establish alliances among commercial enterprises, reducing procurement costs and jointly developing the market. Technical analysis trends MARKS AND SPENCER GROUP PLC. One of the UK's leading retailers with around 21+ million customers each week. It is expected to launch a redeveloped Bradford National Distribution Centre in 2016 (Marks & Spencer, 2016). The company which is currently 132 years old has built its image on offering a quality value-formoney products strategy has recently started refocusing on a low cost strategy for its clothing business. Following the appointment of Mark Bolland in 2010, the British retailer has accelerated a programme of making its supply chain more efficient by targeting $280 million in savings by 2020. However, in todays fiercely competitive market environment, M&S should also adopt optimal strategy to obtain a stronger competitive by reducing human and material costs by exploring overseas cheap labors and improving their quality of service and giving full play to their creativity. 1. If your specific country is not listed, please select the UK version of the site, as this is best suited to international visitors. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. 4 year average Net Profit Margin. Now they sell stylish, high quality; great value clothing and home products and outstanding quality food. United States of America. M&S has invested in a multitude of sub-brands, in-store bakeries and an improved in-store customer experience, thus meeting the changing needs of its consumers (Marks & Spencer, 2016). Marks & Spencer SWOT Analysis & Matrix provide insight into strategy,internal & external factors.Buy custom Marks & Spencer swot analysis $11.Strengths,Weakness Opportunities Threats. Table 1: All amounts in Millions (except for percentage amounts); (Marks and Spencer Group Plc, 2010) The difference amongst the profit margins (both gross and net) of both the companies under concern is quite significant. Carried out on the part of the membership-based customer and sales records of the Commissioner of the members on a wide range of information, including birthdays, clothing numbers, special preferences, and settlement accounts. 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 is one of the UKs leading retailers with over 21 million people visiting their stores each week. Short Term: Mid-Term: Long Term: Trends: Bullish: Bullish: Neutral: . The company is facing serious macro- and microeconomic issues despite its strong brand, solid positioning in the food business, and ongoing innovation in the digital transformation of its operations as well as the implementation of Plan A, its social, environmental and ethical business strategy. Marks and Spencer Group plc (commonly abbreviated to M&S and colloquially known as Marks's or Marks & Sparks) is a major British multinational retailer with headquarters in Paddington, London that specialises in selling clothing, beauty, home products and food products.It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index; it had previously been in the FTSE 100 . Do you have a 2:1 degree or higher? Once the biggest clothing retailer by volume, M&S has now dropped to third position after Primark and Asda (Butler, 2015). Organisations like Wal-Mart, Zara, Subway, and Tesco are few of the major competitors in the market. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. Marks and Spencer food sales offset clothing weakness. Annual Report & Financial Statements. 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