“An analysis of Marks and Spencer’s current strategic position, and how Marks and Spencer’s will develop these strategies in the future.”| |
“An analysis of Marks and Spencer’s current strategic position, and how Marks and Spencer’s will develop these strategies in the future.”
Marks and Spencer (M&S) is one of the UK’s leading retailers, with over 21 million people visiting its stores each week. M&S offers stylish, high quality, great value clothing and home products, as well as outstanding quality foods, responsibly sourced from around 2,000 suppliers globally. M&S employs over 75,000 people in the UK and abroad having 600 UK stores, plus an expanding international business. Overall Marks and Spencer’s clothing range and home ware sales account for 49% of the business, the other 51% of the sales coming from sales of food. M&S has a record of success and profitability since its establishment with well known reputation for its innovative, quality products and reasonable price which offers customers value for their money. (Your M&S, 2010) Although M&S can now be seen as one of the leading UK retailers it has come through somewhat a number of difficulties to reach the position at where it stands at present. During the mid to late 1990’s M&S sales and services declined partly due to the recession and an increase in market penetration producing a much tougher trading environment for M&S. M&S fought back through compliance with strategies put in place by management and to this day M&S are constantly building and renewing its strategic foundations in order to compete within and increase its share of what is a very competitive market. Unique selling point
When looking at competitive advantage of Marks and Spencer’s we can look at the ‘positioning’ and ‘brand’ that M&S have created in the eyes of the consumer. In Marks and Spencer’s case, a retailer that not only delivers high quality clothing but home and food products too, all of which boast high quality and affordable prices. Different to that of brand positioning of its competitors Marks and Spencer’s is able to tap into the market segment and take advantage of this. You can see this as being Marks and Spencer’s Unique Selling Point.
Marks and Spencer’s have an unrivalled reputation for Quality, Value, Trust, Service, and Innovation. Marks and Spencer’s express these values throughout the business and the values are adhered to in all cases. It is these values Marks and Spencer bases it success upon and have been remained almost unchanged since the beginning of the organisation. Quality – Delivering excellent standards consistently
Value – We need to deliver exceptional exceptional value to our customers Innovation – We need to continue to be at the forefront of innovation in both general merchandising and food Trust – We are the most trusted retailer. Having proud heritage of staff welfare, customer care and involvement in the community. Service – Delivering the highest standard of services to our customers (Your M&S, 2010)
Plan A – Corporate Responsibility
M&S outlines its corporate social responsibility in its mission statement and considers the needs of other stakeholders too. “We have a strong tradition of corporate social responsibility (CSR) but we want to make sure CSR is integrated into our operations at every level...” “Becoming the world’s most sustainable major retailer by 2015” (Sir Stuart Rose, executive chairman, M&S, 2010)
Finally M&S also outlines its strategic intent (vision) in its corporate objectives. M&S wants to continue its differentiation strategy by delivering freshness, quality and innovation.
Launched in 2007, Plan A was implemented by Marks and Spencer to tackle the global environmental issues that are present around the globe. Through this Marks and Spencer are showing commitment not only to their...