The Marks And Spencer Group Plc VRIO Analysis shows that Marks And Spencer Group Plc's employees are a valuable resource to the firm. Retrieved July 2016, from The Guardian: https://www.theguardian.com/business/2016/jul/07/welcome-to-the-ms-merry-go-round. During the financial crisis of 2008, while competitors such as Aldi, Asos or Tesco followed a strategy of discounted pricing, M&S emphasised higher quality products and better consumer satisfaction (The Marketing Society, 2010). Its external environment can be assessed in the following manner in light of Porter's Five Force Model: It belongs to products and services . In 2007 Marks & Spencer (M&S) was the UK's largest clothing retailer with a market share of 11.1%. M&S Bank, which was started in 1985, recently (2014) launched a current account facility with no monthly fee and a 100 M&S gift card. Both Marks and Spencer and John Lewis cater to a young audience with a good E-Marketing strategy to drive their business. Our academic experts are ready and waiting to assist with any writing project you may have. Yet, the prolonged financial crisis has also increased the price sensitivity of once loyal M&S customers. 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 . First, it will introduce the history of M&S and different market segment in M&Sand have an overview of Porters models of competition. Marks And Spencer: A SWOT Analysis. Some of the threats include: Competition: The main competitors of Marks & Spencer are Uniqlo, Gap, Tommy Hilfiger, Zara, and United Colors of Benetton. Oxford: Oxford University Press. 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). In addition, with regard to the free movement of people, work visas or residence permits would be required for both UK citizens working abroad and EU workers employed in the UK. Hence, whilst the company has been growing its online business, with sales from tablets and mobiles growing by twenty-eight per cent and eighty-five per cent respectively (Marks & Spencer, 2016) and is also offering a Sparks membership club which offers personalised benefits to loyal customers, its strategy is showing signs of weakening. There are several brands in the market which are competing for the same set of customers. Continue reading more about the brand/company. 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. 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". In the period up until the mid 1990's M&S had a market leading share of the clothing market. However, in 20142015 the company experienced difficulties in marrying its online operations and distribution from its Castle Donington centre. Over the years, Marks and Spencer has spread its operations to meet the demand of its customers. 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. 4. 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). Only 18.5% of its clothing and home sales were online. Valuable - Is the resource valuable to Spencer Marks. 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. Over 80,000 employees form a part of the workforce globally. Market Average Movement. Third, accounting for the characteristics of the target market, it is to develop practical sales strategy, including determining the number of sales outlets, choice of a commodity business scope, pricing strategies. Advantages and disadvantages can be attributed to internal factors while opportunities and threats can be attributed to external factors. 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). Below are the top 5 competitors of Marks & Spencer: Hence this concludes the Marks & Spencer SWOT analysis. Porters model was designed and developed by Michael Porter in the 1980s to determine the competitive intensity and attractiveness of an industry (Spencer, 2015). 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. M&S raises the stakes in battle over current accounts. 7.26 %. This initiative has been largely praised and with its operating performance strong in 2015 (Marks & Spencer, 2016), is considered a threat to High Street banks (Jones, 2014). MOST RECENT 2022 Annual Report. Green consumerism and customers ethical concerns about the socio-environmental costs of brands they use is one of the factors contributing to the development of companies sustainability reporting and related activities. 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. Abroad, it sells goods and services in more than 320 stores in over 40 countries. Advantages and disadvantages can be attributed to internal factors while opportunities and threats can be attributed to external factors. 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. 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. M&S is a listed company under the London Stock Exchange. To modernise, simplify and create a distinct brand across its various offerings, in 20142015 the company created a unified storytelling-based brand identity for its food and clothing markets via Only M&S while preserving Est. Third, long-term to maintain brand image. The opportunities for any brand can include areas of improvement to increase its business. Study for free with our range of university lectures! All work is written to order. For this case study, Marks and Spencer is selected. 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). In response to this theme, Porter puts forward the analytical framework of Diamond System (also known as diamond theory). (2016, July 7). From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. M&S being a global retailer means they are exposed to different political facts in countries they work in. 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. 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). The launch of a members club called Sparks at the end of 2015 with four million registered members is expected to drive online footfall through the introduction of a personalised shopping experience and individually tailored loyalty schemes. 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 and Spencer (M&S) is one of Britain's oldest and best known retailers of clothing, foods, home ware. Guinness World Records reveals that volume of the companys flagship store in London MarbleArch is 3700 dollars per square foot. Marks & Spence: From pants to panettone. 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. Second, establish and run enterprises to brand image. Registered office: Creative Tower, Fujairah, PO Box 4422, UAE. The reactions of managers to such type of data rely on the expectations or the formal budget or planned targets. Here are the weaknesses in the Marks & Spencer SWOT Analysis: 1. As a result, suppliers are also with the development of the development of Marks & Spencer. 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 will not only result in the company having to invest in the recruitment, hiring and training of new employees, but also in the company facing the risk of its show how, know-how and contacts (related to current or potential contracts and business) becoming readily available to competitors (Davey, 2016). Its premium position is threatened by shifting customer preferences; they might prefer to shop for a label or look for similar quality products offered at a better price elsewhere (The Marketing Society, 2010). 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. Retrieved July 2016, from Pestleanalysis: http://pestleanalysis.com/category/pest-analysis/. A general overview of Marks & Spencer is followed by a PESTEL analysis which offers a comprehensive look at the companys strategic business environment. . Retail business goals taking cost-leadership strategy is to become the industrys low-cost firms, which tend to have economies of scale, proprietary technology, preferential supply of commodities prices, lower transaction costs and management fees and other advantages. If you need assistance with writing your essay, our professional essay writing service is here to help! SWOT analysis of Marks & Spencer analyses the brand by its strengths, weaknesses, opportunities & threats. 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. Thus, Martha has become the worlds largest no plant manufacturers. M&S persists in shaping its own brand into image of a healthy environment, in its own brands contains a fair trade, sustainable, non-genetically modified products, animal welfare and so on. BBC. M&S decisively changed its thinking, making sell project focused on clothing and food, and expanding rapidly, with unprecedented turnover. 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.. M&S Bank. Marks & Spencer plc is known through its 1,382 stores worldwide. In 2015, food surpluses were allocated by working with redistribution partners through a Community Shop programme, whilst in 2016 a Spark Something Good campaign engaged 1000 employees in community work and charity action days (Marks & Spencer, 2016). (2015). As stated in its last annual report, and as part of its Plan A, the now nine-year-old strategic sustainability plan of the company building relationships with customers and suppliers and the communities in which they operate is essential for the company. Short Term: Mid-Term: Long Term: Trends: Bullish: Bullish: Neutral: . Marks and Spencer will be in the form of time by phone to inform new members of the listing, the monthly will be in the form of a letter seeking the views of members. The company's international development through franchise agreements offers it a significant competitive edge over other UK enterprises that solely operate in the UK market (Rogers, 2012). of employees. First it outsourced to Amazon, missing the opportunity to develop skills and gather information on its shoppers in the early days. The company was founded by Michael Marks and Thomas Spencer on September 28, 1884 and is headquartered in London, the United Kingdom. Marks and Spencer Group (M & S) is an iconic and leading retailer of food, home ware and clothing items in the UK and worldwide. No plagiarism, guaranteed! 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. 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. In its food sector, the company has introduced staff zoning across food halls and is increasing the number of staff in the store on an ongoing basis. At the end of 2015 the company had to temporarily shut down its website due to a security breach (Curtis, 2015) and in 2016, poorly integrated IT systems in the company are still being experienced. From the view of Sales category, M&S accounts for 15% of the UK clothing sales, food sales 4.6%. However, despite its successful specialist positioning. A shift from a strong focus on products to a more consumer-focussed strategy has benefited the company. The new reporting regulations M&S adopted in 2014, including a summary of their remuneration framework (Marks & Spencer, 2015) aim to provide even greater transparency to its stakeholders. Following are the opportunities in Marks & Spencer SWOT Analysis: 1. 1884, 21-year-old Michael Marcos in Kekegaite open-air market of United Kingdom Leeds City had opened a unique small stalls, which is the embryonic form of Marks and Spencer. (2015). Technical analysis trends MARKS AND SPENCER GROUP PLC. Free resources to assist you with your university studies! In this study, strategic analysis is done on Marks and Spencer. 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). Marks and Spencer is a British retail giant specialised in apparel and food industry. 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. The company, eponymous with its environmental and ethical Plan A green strategy, has also been critical of the lack of clarity in the governments flagship energy efficiency scheme, the green deal, as well as in its shifting green measures legislation. In terms of controlling, the management of Marks and Spencer has frequent reporting of expenditures with costs to provide a form of feedback. SWOT Analysis Of Marks & Spencer is brand-based. This paper examines Marks & Spencer Plc an iconic brand and one of the UKs leading retailers. 5.3%. This allows people to see a century-old shop in the face of challenges, courage to change themselves and innovative vigor (Jemmeson, 1997). MBA Skool is a Knowledge Resource for Management Students, Aspirants & Professionals. Fashion Retail 2016: The future of fashion retailing in a digital age. 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). Because Marks & Spencer has become a very powerful organization in the retail world, new competitors find it very difficult to keep up with the quality of products and services that Marks & Spencer provide. (2016). The market development will lead to dilution of competitor's advantage and enable Marks & Spencer to increase its competitiveness compare to the other . Retrieved July 2016, from Reuters: http://uk.reuters.com/article/us-m-s-outlook-idUKKCN0ZN0EH. - provides you an in-depth strategic SWOT analysis of the company's businesses and operations. Retrieved July 2016, from European Commission: http://ec.europa.eu/environment/ecoap/about-ecoinnovation/business-fundings/united-kingdom/488_en.htm. 4. 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. Here is the Pestle Analysis of Marks and Spencer. The availability of these stores and accessibility are also . Founded in 1884, the more than a hundred-year-old chain has long been a household name in the United Kingdom (and elsewhere! Standardization Management greatest advantage is that we can save a lot of management costs, while consumers can enhance the overall impression of the Marks and Spencer, giving them a home away from home shopping experience. The essay explains what the important parts of Marks and Spencer's (M & S) current and historic strategies are. 5) Existing competitors. London: Marks & Spencer Plc. 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. 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). Potential entrants would be discouraged by the strong loyalty of M&S customers, the companys strategy of focusing on quality products and a long-established and well-developed supply chain network (Vizard, 2015). After companies establishing their own unique brand image, they should make long-term planning to maintain its own brand image (Harry J.P., 2000). 3) The bargaining power of suppliers. Retrieved July 2016, from The Telegraph: http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/10403348/Should-MandS-giveup-on-clothes-and-focus-on-food.html, Ruddick, G. (2016, July 7). Marks & Spencer to cut 7,000 jobs over three months. 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! A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. SWOT Analysis Of Marks & Spencer is brand-based. Almost 100% of sales of own-brand are a biggest difference for M&S with the general retailers. The coronavirus has had a big impact on the retailer, but that cannot hide other shortcomings. 4) Diamond system: the State plays an important role in the success of enterprise competition. 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. M&S website temporarily suspended after leaking customers details. According to differences in consumer demand will be divided into different consumer market segments, so that enterprises can more effectively meet their needs. Marketing Excellence 2 . Retrieved July 2016, from The Telegraph: http://www.telegraph.co.uk/news/uknews/terrorism-in-the-uk/11428309/Al-Shabaab-calls-for-attackson-Oxford-Street-and-Westfield-centres-in-new-terror-threat.html, Copyright Sofia, Bulgaria, 2023. 2) The general strategy theory: Porter believes that the struggle with the five forces of competition, each company should only have two basic types of competitive advantage, namely, low-cost and product differentiation, which both with a special scope of business combination can be drawn from three types of successful strategic thinking, these three ideas is the overall cost leadership strategy, differentiation strategy and centralized business strategy. First, they can through cost analysis identify the greatest impact factors on the business cost, controlling systematically cost. Add to Library Added to Library Add to Library Remove. The company is employing approximately 80000 people in 2020. Annual Report & Financial Statements. Retrieved July 2016, from The Guardian: http://www.theguardian.com/money/2014/mar/07/marks-and-spencer-bankcurrent-account, Krish, M. (2012, January 19). Business activities are independent and dependent. After the First World War, due to a shortage of materials, a penny sales strategy is difficult to sustain. Article Summaries: Qualitative and Quantitative Studies on Burnout Amo Europe in International Affairs: A review of the work of Christopher H How to Write a Critical Review of an Article, How to Analyse Secondary Data for a Dissertation, We use cookies which you can view and control. M&S Quarterly and Annual Revenue Trailing 12-Months Trend (TTM) Annual Revenue $14.3B M&S's revenue is the ranked 3rd among it's top 10 competitors. Organisations like Wal-Mart, Zara, Subway, and Tesco are few of the major competitors in the market. Retailing 2015: New Frontiers. Marks&Spencers is a leading retailer of clothing, food, home ware and financial services. 5) Industrial clusters: regional competitiveness has a great impact on competitiveness of enterprises. Free store collection Free delivery when you spend 60 Free returns for online orders. Further investments are being made in GM IT systems and a logistics network with the aim of delivering better supply chain flexibility and customer availability. 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 . 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. Below are the Strengths in the SWOT Analysis of Marks & Spencer : 1. / The business strategy of marks and spencer. Following the UKs decision to exit the EU, the company, as will other UK retailers, is likely to face legal issues. M&S has been affected by the recession and has seen a big slump in sales in 2009, a fouryear decline in its clothing sales and most recently, a ten-year low in its clothing sales in the second quarter of 2016 (Davey, 2016). London: Routledge. Marks & Spencer. Marks & Spencer is one of the UKs leading retailers with over 21 million people visiting their stores each week. Food sales accounted for 49.8% of its UK business and had a market share of 4.3%. Technology trends in fashion. Executive Summary. The primarily product-oriented strategy of the company that places a strong emphasis on its M&S brand is not beneficial at a time when M&Ss competitors are employing a customer-oriented approach and investing in building strong consumer relationships (Ruddick, 2013). 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. Retrieved July 2016, from RetailWeek: http://www.retail-week.com/comment/comment-retailers-mustheed-marks-and-spencers-international-strength/5041479.article, Ruddick, G. (2013, October 24). Al-Shabaab calls for attacks on Oxford Street and Westfield centres in new terror threat. Introduction 4. Strong competition from other retail brands means limited market share, 2. In addition, in 2009 the company set annual recycling targets (Waste Management Word, 2010) and in 2012 achieved zero waste to landfill (Russell, 2012). Original reporting and incisive analysis, direct from the Guardian every morning. 1st jan. Capi. Sector and Competitors. Marks & Spencer is one of the UKs leading retailers with over 21 million people visiting their stores each week. We will be discussing Marks & Spencer's SWOT Analysis. In the case of M&S, the five forces that influence the industry are as follows: 1. (2015). The annual revenue of the company in 2020 was 10181.9 million pounds. Until 20 the eighties and nineties, M&S gained unprecedented praise in terms of quality, service, diversification. This involves a detailed analysis of their actions and how these would affect the future strategies of Marks and Spencer Enters China. Marks & Spencer launches new website to replace Amazon platform. The most successful retailer using cost leadership strategy the worlds largest retailer, Wal-Mars. Marks & Spencer reported strong third-quarter results. 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. Its own M&S.com was only launched in 2014 after three years of development (The Telegraph, 2014). 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. Fabled U.K. retailer Marks and Spencer is trading near thirty-year lows. 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). Threats in the SWOT analysis of Marks & Spencer. Browse marketing analysis of more brands and companies similar to Marks & Spencer. Marks and Spencer Marketing Mix: Marks and Spencer, commonly called M&S, is a public limited company of British origin. 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). As a result of poor eCommerce experience, by 2018, the retail giant was considerably behind its competition. Marks and Spencer like John Lewis is a multi-channel retailer and a close competition for John Lewis. As a popular and accessible retail store, it is very popular among super markets. Marks & Spencer's major business is in UK . The renowned company was established in 1884 by the founding partners Thomas Spencer and Sir Michael Marks. Marks & Spencer is one of the largest retail chains in the UK . 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 (Chase, 2001). With stricter environmental rules and regulations both at European and international level and increasing consumer pressure concerning business practices, major international retailers and brands have to examine the life cycle of its products from cradle to grave from the suppliers to end usage and disposal to be completely transparent about their strategic and tactical environmental practices and be fully accountable. , establish and run enterprises to brand image there are several brands in the success enterprise. Strategy to drive their business have a service perfectly matched to your needs the Marks & Spencer selected. But that can not hide other shortcomings household name in the SWOT analysis: 1 ware... Sales of own-brand are a biggest difference for M & S with the retailers! 4 ) Diamond System: the State plays an important role in the SWOT analysis Marks! 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Competitiveness has a great impact on the business cost, controlling systematically cost among super markets or the formal or..., diversification overview of Marks & Spencer third-quarter results a household name in the UK strategies of &. Opportunities can lie in geographic expansion, product improvements, better communication etc Knowledge resource for Students!