Essay on Marks and Spencer Case Study
In recent years, the UK's retailing industry has been characterised by intense competition. Customers are more aware of where and how they want to shop. They also know what sort of shopping experience they require. This has made it much more difficult for retailers to survive.
The result was that Marks & Spencer had to develop a new business strategy. This created a period of change for the whole organisation. The period of change involved …show more content…
Fashions are constantly changing and Marks and Spencer’s has an inability to keep up with changes in the retail market.
There are also problems with focusing on the right targets markets in terms of products and customers. (www.bitc.org.uk)
Many consumers still feel that Mark and Spencer’s products are old fashioned and out dated compared to competitors. Even though this is some thing that Marks and Spencer’s is constantly trying to change.
Marks and Spencer’s is now experiencing poor performance across the globe which has resulted in the pull out of foreign operations.
Marks and Spencer’s has the opportunity to collaborate with other companies to widen up product range even more. They could also collaborate with designers to help bring new ideas, and help expand on their furniture and beauty products.
Internet technology has developed fast, it offers an opportunity to increase the demand for the online products (Zakon, 1999). In terms of this circumstance, buying products online became a new trend. Customers are getting used to accept the model and adapt it to their daily lives, and the demand for this kind of products would be increased in the future.
Strong competitors are the most threat to M&S. For example, in the food market, there are four main supermarkets, such as Tesco, Asda, Safeway and Sainsbury (Ocr, 2002). They provide not only high quality