Saturday, March 16, 2019
Identify Marks and Spencers market position and determine why they nearly collapsed :: essays research papers
Identify Marks and Spencers market federal agency and observe why they roughly collapsedIntroductionMarks & Spencer is one of the UKs foremost retailers of clothing, foods, homew ar and monetary returnss, boasting a weekly customer base of 10 zillion in over 300 UK stores. Marks & Spencer operate in 30 countries worldwide, and has a group turnover in excess of 8 billion. It has limited values, missions and visions. Its main vision is to be the standard against which all others are measured, its main mission is to make aspirational quality loving to all, and its main values are quality, service, innovation and trust. (www.marksandspencer.co.uk). By the end of 1998 though, there was evidence of a crisis occurring. Customers and media pulled together to assist senior(a) management contributionake in an internal audit to identify the problems and go over if they could come to a solution. The purpose of this assignment is to construct a bring up analysis, highlighting each of the strengths, weaknesses, opportunities and threats that were highlighted in the internal audit. The SWOT analysis is contained deep down the marketing plan and is the third step in the marketing prep process, coming after the marketing audit and before any assumptions. (Joisce, Ted (2002), Marketing Planning Lecture Notes 14/10/02, Mission, Objectives, Strategy, Tactics)Conclusions result be haggard from the SWOT analysis, which will attempt to review the companys position and identify the marketing priorities. Also, Marks & Spencers recent marketing activities will be critically analysed in order to ascertain what improvements have been make since 1998.This assignment will attempt to determine why Marks & Spencer nearly collapsed and what they have achieved in terms of success and failure as part of their recovery programme.Strategic wear-out occurs when an organisation no longer meets customer involve and the pursued outline is surpassed by competitors. (Drummond and En sor, Strategic Marketing Management, p. 149, Butterworth Heinemann)Marks & Spencer is a perfect example of a company that had a successful strategy but failed to adapt to the changing environment and have therefore suffered from strategic wear-out.Evidence to support this quote comes in the form of Marks and Spencer move very little on marketing communications and being overtaken by their competitors, but this will be explained later in the assignment.As dactyl 2 shows, strategic wear-out refers to the lack of fit between an organizations strategy and the needfully of the marketplace. This was clearly evident with Marks and Spencer when they became complacent about their customer service standards and thought their customers understood what Marks and Spencer stood for without marketing when all along they didnt.