External Forces Marks and Spencer has many external forces that affect the company. Responsible sourcing and human rights are fundamental in allowing individuals to lead a dignified and independent life, free from abuse and violation. And grocery retailers such as Tesco, Sainsbury's, Asda etc. The UK clothing retail industry has experienced significant growth, which has focused attention on studies in the field with this sector being considered as the one of the most competitive markets in Europe. It can be said that by means of organisations competitive strategy, it can achieve an upper hand in the business market over its rivals. Marks and Spencer is a major British multinational retailer headquartered in Westminster, London. On the Facebook pages, the Organization invites those who like their pages to give their views regarding the Organizations operations. As a result, it is important for Organizations to ensure that they have elaborate communication strategies to reach their customers effectively. The physical aspect of brand image has to do with how products appear. This system reduces the cost of business transactions and brings the business more close to the customers. Consumer concept in the market place has been changed. Company Q has taken correct decision closing those two unprofitable. There were many reports that M&S no longer understood the customers' needs and had misread its target market. Marks and Spencer (M&S) has a tough and competitive external environment. The paper analyses M&S external environment. Introduction Generic strategy was developed strategies under this school, especially it can identify position in the market. Larry Bossidy, former CEO or AlliedSignal, and Ram Charan, a business advisor to senior executives, describe three core processes of business which determine a companys overall ability to execute (Kinicki, 2013, p. 178). Newstatesman.com: Marks & Spencer: great food, bad clothes 2013, Web. Competitive Advantage offers a beneficial position to business organisations over rivals in regards of some measure like expense, quality, or velocity. In today's business . Tesco has expand geographically from the time early 1990s and into sections like electronics, furniture, and internet services etc. Methods of analysis include examining the following: the companys marketing strategy, the percentage of its market share in comparison to 6 competitors, its position in the market over 5 consecutive years, its marketing goals and predictions for the future, its survival during 2008-2009 recession, companys turnover over 4 consecutive years, the percentage of its turnover in terms of 6 competitors, expectations of the future of UK economy, and the firms predicted turnover for 2012 and 2013. In terms of controlling, the management of Marks and Spencer has frequent reporting of expenditures with costs to provide a form of feedback. But it can help in making appropriate business decisions as management will be aware of all the advantages as well as difficulties that lies in incorporating specific changes. Even though focusing on specific segments may enable the Organization to make huge profits within a short period of time, it may not be sustainable in the long-term. Once they follow, they are able to access the Organizations business information. Stuart Machin, Chief Executive of M&S commented: "Stores are a core part of M&S's omni-channel future and serve as a competitive advantage for how customers want to shop today. Ten years later he was joined by Tom Spencer, and the partnership grew into the company known today as Marks & Spencer (Marks In Time n.d.). The management believes in collecting and assigning . Over the last 3 years, the marketing environment for M&S has had a mixture of fortunes and misfortunes. It also helps in adopting the new environment and response to market demands. Sainsbury's was set up in 1869 and since then, it has changed into the second most vital store chain in the UK, it works in more than 1200 general stores and solace stores where it uses more than 161,000 partners to facilitate the deliverance of the goods and services of the supermarket. According to Mr. Robert Swannell, who is the Chairman, the Organization is currently better positioned than it was three years ago. Marks and Spencer known also as M&S is a constituent of the London Stock Exchange's list and is present in the FTSE 100 Index. And Marks & Spencer (M&S), despite 10 years of effort, still hasn't got anywhere near to the operating profit margin it had back in the 1990s. That's why in 2007 we launched Plan A, our industry-leading sustainability programme. As well as that, M&S can hire trained staff from its competitors in order to gain business knowledge from a different perspective. The Organization has a Facebook page where it posts information about what it does, the kind of services and products it deals with, its uniqueness, and how customers may get its products and services. The company will follow the same pricing strategy by highlighting its off-prices on different platforms. The first priority is UK business. As a business thats been around since 1884, we know how important it is to look to the future. Operation decisions are influenced by marketing strategies while marketing strategies are affected by the outcomes of other KBFs. The company's stores and outlets are strategically located across London. Such rules govern things like working hours, holidays, and communication protocols within the companies. Benchmarking can be helpful to an organization in many different ways 1) it helps place an effect in perspective, was the outcome good, bad, or average 2) Benchmarking can also help set the practicality of you targets that you had set and want to measure 3) Benchmarking can also can help identify both areas as well as subcategories with good or poor practices and the greatest room for improvement (Azevedo et al., 2010). Specific needs of the management and senior management employees: What M&S would want these employees to know is that people do not only work for financial gains but also to serve the community. The reason is that the closure would negatively affect customers loyalty to the clothe ware products of the Organization. As M&S products are older fashioned and expensive, they have to make a strategy that deliver more customer oriented product on less prices. Stuart Machin, the chief. Often, lowering costs requires additional investment in automated facilities, equipment and employees skill. Human resource cannot be imitated and helpful to firms value. Marks & Spencer has unveiled details of a 480m radical reorganisation of its shops, including plans to open 20 bigger stores. Abroad, it sells goods and services in more than 320 stores in over 40 countries. There are three broad categories of clothing articles and accessories as defined by the store management itself at M&S. these three categories are different in the sense that they have different levels of various features attached to them. Instead, it relies on different suppliers, located in different parts of the globe to manufacture its products. 4, no. The telegraph: Analysis: Marks & Spencer making progress, but sales still falling 2014, Web. Marks and Spencer should focus on developing economies throughout the world for expanding their business and gaining sustainable competitive advantage. But we cant do it alone; were collaborating with industry experts and inviting all our customers and colleagues to help us. Company Overview The price sensitivity of the customer has produced more competitive environment. We're here to answer any questions you have about our services. The objective of M&S has always been to transform itself into a leading player in the retail industry. IvyPanda. Marks and Spencer believes in eco-friendly goods and fair-trade products and hence has worked wholeheartedly towards achieving it. It has been analyzed that Marks and Spencer have been working in a highly competitive market where the degree of rivalry among competing firms is high because of the similar price and quality products produced by other retailers in the industry. Bodnar, K & Cohen, J.L 2012, The B2B social media book: become a marketing superstar by generating leads with blogging, LinkedIn, Twitter, Facebook, e-mail, and more, Wiley, Hoboken, N.J. Business case studies: Using supplier relationships to serve customers better 2013, Web. A new partnership with Ocado has cost 750m, but will at . Sir Richard Greenbury, insisted that the profit loss was due to the competitive environment. In-text: (Sanchez and Heene, 1997) Your Bibliography: Sanchez, R. and Heene, A., 1997. But how do we get other companies on board? This initiative was aimed at helping the Organization attain sustainable customer satisfaction (Smith & Cockburn 2013). "Marks & Spencer Company's Marketing Environment." The marketing strategies of the Organization involve advertisement on various platforms on the internet. Positioning seeks to stabilize and retain the positions of the differentiated products for a particular Company so as to retain the competitive advantage of the Company in regard to those products (Ferrell & Hartline 2010). At M&S, we know there is no Plan B when it comes to our planet. . The initiative has been restructured to reflect the Organizations new four pillars namely below: This initiative is highly valuable to consumers. However, the company is vitally investing in online business marketing to boost the sales of home-use products. Iraq war was one of the biggest cause of slowing down the UK economy. M&S needs to focus on the top end of the clothing market but deliver stylish cloths, beautifully made with fantastic value. The reason is that it aims at delivering quality and affordable products and services to all its customers over the next three years. These are known as macro environmental factors. Noticeably, M&S is competing in the tough market of home-use products, and also in the food selling in comparison to others food companies, where they are selling products from freshly produced groceries items and meals both partly and ready meal. However, its main target is women who earn a high income. Cost Leadership: In cost leadership, an organisation aims to become the low cost provider in its industry. The initiative was designed to incorporate the customers in making decisions about product development. They always take in to account of the legal issues of the business like customer and staff safety, selling alcohol and tobacco to young people. Here you can choose which regional hub you wish to view, providing you with the most relevant information we have for your specific region. (2011). No plagiarism, guaranteed! In 1894, Thomas invested 300 at that time and Marks and Spencer Ltd. was born (Our History | MarksandSpencer.com). The objectives of the study is to advise the Board of Directors into a possibility to revisit and redesign the current business strategy based on the blue ocean strategy (Kim and Mauborgne, 2005) to provide value based innovation via cost reduction with increased value for buyers and to ensure sustainable business operation in Malaysia. The management of the organisation has been assisting. 2021. Just like Facebook, the majority of people who are on Twitter also have email addresses. The bureaucratic structure is based on the bureaucratic theory of management. Iceland sell very cheap food as compare to M&S. M&S is growing in menswear and kids wear market rapidly. Criteria for comparison Marks and Spencer Morrison Sales in the last five years (increment in amount) 10.300 billion 8.200 billio n Revenue of the company in last five years 481.7 million 389.8 million Presence in markets Marks and Spencer is present in various markets and it has 852 stores all over in UK. ensure the integrity of our platform while keeping your private information safe. April 26, 2021. https://ivypanda.com/essays/marks-amp-spencer-companys-marketing-environment/. M&S is in a unique position to unlock this value, as it owns around 40% of its estate - including its Marble Arch site. Keeping in mind PESTEL analysis and competitors, it is being summarized that M&S has to make the strategies taking into considers its weakness. Additionally, the analysis also includes the possibility of developing a global strategy for Giant. Superior organizational strategy are generated by the top level management whereas the middle level management and lower level management of the company implements objectives and strategies to accomplish the complete strategy gradually. That's why in 2007 we launched Plan A, our industry-leading sustainability programme. An efficient strategy can help an organisation to achieve an upper hand through commitment to its strategic objectives and the capacity to significantly expand execution and profitability (Bartlett & Ghoshal, The paper highlights an SLA and business case for a new business application proposed for Kmart New Zealand. Without satisfying customers businesses cannot run their operations for long time. Global warming is a hot topic in the world. Secondly, the experience curve and the Profit Impact of Market Strategies model which identified a number of strategic variables. All work is written to order. Caring about our impact on the world today and in the future is good business. Contextsustainability.com: Report review: Marks & Spencer Plan A report 2014: Putting consumers centre stage 2014, Web. M&S should introduce new non-M&S food brands without increasing cost. The penny bazaars were a huge success . A Marks & Spencer outlet at The Mall Athens. There is a big opportunity for M&S to gain competitive advantage in home products. To serve such a high number of valued customers visiting 600 stores in the UK the company employs more than 75,000 staff worldwide (Company Overview | MarksandSpencer.com) . Price has always been a big factor in the retail industry, but the last few decades have seen numerous budget retailers pop up in the United Kingdom.From budget clothing stores to budget supermarkets, these new competitors are stealing away market share from more premium brands (like Marks and Spencer), by encouraging customers to enjoy similar . Need a custom Assessment sample written from scratch by Opening more store and bringing in more variety in the products. Annual review and summary. Handling competition in business can be a directly linked to the success or the failure of the company. Our store rotation programme is about making sure we have the right stores, in the right place, with the right space and we're aiming to rotate from the 247 stores we have today to . Marks & Spencer (M&S) : M&S is a one of the top most British Retail Organisation which is having more than 885 stores in more than 40 countries across the globe, over 600 domestic and 285 international stores [1] [2].It is the largest clothing retailer in the United Kingdom, as well as being an upmarket food retailer and as of 2009, the 43rd largest retailer in the world[3]. A little competition can be a healthy thing. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. Conducting surveys on website is very good technique to get the customers feedback and understanding their demands. Therefore, Tesco's business success indicates that effective operations strategies have played a vital part in supporting and driving its whole business objectives which is "to create value for customers to earn their lifetime loyalty"., The following report analyzes marketing and financial performances of John Lewis PLC. M&Ss website, Marksandspencer.com is another vital source of promoting its products and different offers. In terms of controlling, the management of Marks and Spencer has frequent reporting of expenditures with costs to provide a form of feedback. M&S provides colleagues in the UK and overseas with a safe and healthy working environment. Through e-mail, the Organization has been able to increase its audience on social media. For the customers it means that clothing products will improve core M&S ranges, so that the unique quality, style and fashion of the M&S brand stands out. We utilize security vendors that protect and Study for free with our range of university lectures! ' Evidence to support this quote comes in the form of Marks and Spencer . The employee market sector has various segments. The Organization has adopted technology in most of its operations and service delivery. Consequently, their perception of M&Ss brands has been strengthened. Economic situation of the country is the factor that can pressurise the M&S business. Some objectives that they have set are to:, Marks and Spencer. IvyPanda. This model has enabled the Organization to satisfy the shopping needs of many customers within a short time without incurring huge costs. (2021, April 26). The Organizations positioning initiatives are likely to remain the same over the next 12 months. M&S should introduce e-commerce, the use of web-based ordering system. This has yet to be addressed by academics, especially in relation to the notable growth in environmental concern at this time. This statement is based on the Organizations business model. We think entry of new rivals is the big factor in external environment. However, that does not mean that it has neglected the other segments such as low-income earners. New technology can also be used to identify the new fashion in and trend change in different parts of the world. As external environment is one of the most important factors for businesses, it cannot be ignored. Strategy is about making choices and weakness are the areas where a company can improve using SWOT analysis and build on its competitive advantage and strategic positioning. VRIO analysis of Plan Spencer is a resource oriented analysis using the details provided in the Tough Decisions at Marks and Spencer case study. The bureaucratic approach views Organizations as being guided by rationality (Stanford 2007). In food, M&S needs to build a clear position as a specialist of food retailer. In each part of the business M&S has a lot of competitors like BHS, NEXT, Burton and Gap. Customers assistance and satisfaction is the major concern for M&S. Marks and Spencer (M&S) is one of the top retailers chain in UK which claims to be the top womens wear and lingerie seller as well as better quality food seller. The Organization also has a Twitter handle where those who want to know more about it are requested to follow the Twitter handle. This is the age of fashion and modernisation. The annual revenue of the company in 2020 was 10181.9 million pounds. This is IvyPanda's free database of academic paper samples. M&S is the first company in UK that introduced self customer service. The external environment of Marks & Spencer is comprised of all the elements that determine what the it needs to compete in its respective industry. Within this intense competition of retail industry, Tesco can stand at market-leading position in recent years has mainly come from its strategies of expanding overseas, shifting to 'higher margin' non-food market and maintaining a strong core UK business (Corporate Watch UK, 2004). Following is highlighted some factors of M&A's external environment and how they effect Marks & Spencer in executing its strategies: (P)OLITICAL The reason is that those women have expressed a lot of interest in womens outfits which are currently sweeping across the UK and in other markets. Firstly, the Boston Consulting Group (BCG) matrix that concentrate the market position of different products. It is associated with lifestyle and Retail since it operates in the retail sector. Due to its good reputation in online marketing, Amazon.com is the leading online retail company in the globe. M&S can achieve better competitive advantage through managing the people at work in other words utilising human resources. Recycling is the most important part in Plan A. M&S sells the products of high standards to its customers. The Institute for Retail Studies's research (2003) reports that retail industry in the UK is quite competitive, dynamic, and innovative in recent years. Marks and spencer is operating in a very competitive environment and there are many factors that affect the company in the outside environment. External environment in which M&S operates can be identified through PESTEL analysis that shows what is exactly happening outside the organization. This complacency reflected a disconnect between Marks and spencer and its consumers, putting the company at a disadvantage among its competitors and forced Marks and Spencer to redefine its brand and to its marketing strategies so that it made itself relevant among consumers once again.. Letter of Transmittal 22 July 2011 CEO Marks and Spencer London England Dear Sir, Per your request a . 3.1 PESTLE Analysis It stands for Political, Environmental, Social, Technological, Legal and Economical factors that are within environment. Key Findings External Environment ? The Marks & Spencer (M & S), celebrated their 120th anniversary in the year 2004 and for company's chief Executive position, Stuart Rose was appointed. In consideration to qualitative and quantitative aspects of strategic proposal it is evaluated that with new product and market Development Company can. A positioning statement for M&S would be to improve customer service through excellent relationships with suppliers. Advantages: The renowned company was established in 1884 by the founding partners Thomas Spencer and Sir Michael Marks. Registered office: Creative Tower, Fujairah, PO Box 4422, UAE. Once Facebook users like the Facebook page of the Organization, the feature directly connects Facebook to the users email accounts. are all compete on price, quality, range, and service in order to strive for business success. Due to its ability to store huge files, google+ enables the Organization to share as much information as possible with its customers, a feature that is missing on Facebook and Twitter. The organization also engages in charity work and other corporate social responsibility activities, thus creating a very conducive social environment for its operations. The following are the stakeholder groups with an interest in M&S: The employee market sector is broadly categorized into: The skilled employees are further categorized into the following segment: In terms of Organizational design, M&S is structured in a bureaucratic manner, that is, it has a chain of command. M&S operates as a family of businesses, selling high-quality, great-value, own-brand products and services, alongside a carefully selected range of third-party brands. Over the last three years, the following are some of the Organizations statistics: According to the projections by the chairman of M&S, the Organization expects to realize the following over the next three years: Some of the factors in the retail environment which have affected the performance of M&S include increased cost of promotions and production, efficient supply chains, inflation, the decline in general merchandise sales, and effective management of promotions (M&S: From transformation to delivery 2014). M&Ss e-business model is focused on marketing and sales (Strinfellow 2010). M&S has a responsibility to ensure our products are responsibly sourced and uphold ourGlobal Sourcing Principles. This is primarily as a result of the concentrated power of larger retailers such as Marks & Spencer. As a result, it becomes easy and convenient for the Organization to reach many customers with comprehensive information about their products and services (Harman 2014). The reason is that over 85% of people who have an e-mail account are also on social media. Customer service staff members are the representative of any company, Marks and Spencer Customer Assistance is the face of corporate staff that provides high quality services with their commitment and enthusiasm to make sure they deliver the service according to the customers expectations. M&S Plan A is very environment friendly. As a result, companies need to keep on marketing their products on Amazon.com for the products to be properly known by customers (Lunden 2012). M&S trades in clothing, ready meals, bakery, and households. Its main competitors include NEXT PLC, GAP, and H&M. The last three years have been useful for the Organization because it has developed a strong foundation for the growth of its business. It has a diversified product portfolio that includes. The main reason for not to attract the new customer is high price and old fashioned clothes. In 1985, Harvard Business School Professor Michael Porter published his new book The Competitive Advantage which focuses the organisation internal environment. Not only has Tesco managed to monopolise the food sector, they have also diversified into a number of other sectors, some of which being insurance, mobile networks, clothing, and electronics. The company is employing approximately 80000 people in 2020. "Marks & Spencer Company's Marketing Environment." M&S is lacking the ability to understand the changes in social trends. To carry out this report we have selected a company named TESCO which is a worldwide grocery and universal products dealer founded in the year 1919. M&S attracts its customers by promoting its products on every occasion and event by hanging promotional offers posters, sign boards and confetti. Every organization tries to gain best position in market. M&S should enter this market segment either by starting new business or by acquiring another company such as Next who is well known for stylish clothes for children and younger aged consumers. Our people bring our values to life. Lowering costs lead to lowering prices, which can increase demand for products or services, but if the product or services cannot be produced at a lower cost it also reduces profit margins. Those three processes are people, strategy, and operations. M&S markets products for both sexes. We Will Write a Custom Case Study Specifically. It also operates a website where it posts business information for access by potential customers (M&S: student information 2010). The competitive retail landscape and evolving shopping behaviors of customers means it is essential for M&S to have access to the most efficient and effective technology throughout its . -Particularly useful in early stage of strategy development, when date is analyzed The aim of this report Is to identify the key factors that allowed M&S to outperform its competitors up to the mold asses. Food brands without increasing cost measure like expense, quality, range, and internet services etc reflect the business. Regards of some measure like expense, quality, or velocity does not marks and spencer competitive environment that aims... Cant do it alone ; were collaborating with industry experts and inviting all our customers and colleagues to help.! A positioning statement for M & S has always been to transform into! A., 1997 ) Your Bibliography: Sanchez, R. and Heene, A. 1997. In UK that introduced self customer service & Spencer used to identify the environment. 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