Marks & Spencer is a British retailer with over 800 stores in more than 30 countries around the world. It is the largest clothing retailer in the UK, as well as being a food retailer. Most of its domestic stores sell both clothing & food, and since the year 2000 Marks & Spencer have started to expand into other ranges such as home wares, furniture & technology. Marks & Spencer became the first British retailer to make a pre-tax profit of over £1 billion “BBC News online 1998” Though a few years later Marks & Spencer were hit by the “credit crunch” which has had a dramatic effect on the company as they struggle in the current economical climate.
M&S is a successful company. In macro-environment, M&S obeys the government and protects the natural environment. Moreover, M&S is influenced by the factors of economic, social, and technological to make its business strategies. On the other hand, in micro-environment, the M&S has created a good and long-term relationship with the suppliers and customers. From the SWOT analysis, the most important factor for M&S is to satisfy customer needs. On the other hand, the main disadvantage is the lack of clothing market segmentation that causes M&S to lose its brand awareness among the existing customers. The significant strategies of M&S are creating potential customers and maintaining the existing customers. To sum up, the analysis of M&S has found that its business structures follow the trend of society, keep the position in the market, and increase its potential market share. Mission
The mission of the M&S is to make as high quality accessible to all. Marks & Spencer is a leading British retailer of clothing, food and household goods. They prefer to call themselves "Marks & Spencer," using an ampersand instead of the word "and." Their logo is a style form of the characters "M&S." They have a "Plan A" for tackling environmental issues "because there is no plan B."
M&S outlines its core business as clothing and Food. Its’ financial objectives is to deliver shareholder value in terms of increase returns, but also in terms of increase sales and market share in retailing. It beliefs and values are outlined as “Our customers continue to see Marks & Spencer as the place to shop for special food, produced to exacting standards”. M&S also sees its workforce as an important part of its plan and also considers modern its stores as a key corporate objective. Vision
The vision of the M&S is to be the standard against which all others are measured. They sells clothes, food and home wares at more than 650 stores in Britain and about 300 shops abroad, said it expected to achieve annual benefits of around 250 million pounds by 2015-2016 from upgrading its supply chain and information technology systems. They will supply chain and IT improvements. The improvements will include shrinking the firm's network of 100 warehouses, which are run by third parties, to just four. And also to revamp its website and said it would expand its business abroad, including at least 50 stores in India over five years. They have established a long-term vision for where we want to take the business which they believe will create long-term sustainable growth. At the heart of this vision is moving the business from being product focused, store centric and UK dominated to being customer focused, multi-channel and international. M&S would conduct a review of its UK store network in the light of fast-growing online retail sales, with future new store likely to be offset at least in part by closures. They plan to cutting prices, stepping up promotions and introducing new products, add 800 new lines to sustain the recent improvement, including extending a trial to sell a small number of brands. They think the strong growth potential in children swear and footwear as well as home wares. PESTLE
The government sets regulations for companies to abide by such as Health & Safety British Standards...