Marks&Spencer is one of the leading retailers in the UK. They have over a 20 million customer base who visits their stores every week. They offer an array of products ranging from fine quality clothing, fresh food and home products. They are currently the number one women wear and lingerie brand in the UK.
Marks&Spencer was founded in 1884 byMichael Marks and Tom Spencer. They opened a small stall at Leeds, Kirkgate Market, with the idea to sell everything at one penny. Marks&Spencer became a private limited company in 1903 and in 1926 it ventured as a public company.
Today, Marks&Spencer has expanded their regime to over 600 stores in all over UK and has good brand presence in the international markets. It has over 295stores over 41 territories worldwide.
During the years, MARKS&SPENCER has faced many turbulent times. The company has managed to overcome a decline of sales in 1990’s. It has also managed to answer the financial crisis it faced by 2003. Over time Marks&Spencer has evolved as a customer oriented organisation. They understood that the market evolves as the customers’ needs change. Thiscreated many change within the organization, new department have been created as for example the marketing one.
Marks&Spencer witnessed phenomenal growth after some drastic changes in its organisation orientation after 2003. The company has retained a premiere position in UK clothing retailing with a total market share of 11.1%. In 2009, the group achieved a turnover of 9.1 billion pounds.
Inthis report, we have analysed Marketing aspect Marks&Spencer and discussed its strategies and corporate goals. We have dealt with its strengths, weakness, opportunities and threats and also its marketing strategies by analysing its marketing mix and various matrixes. (2010e)
Company Name | Marks & Spencer |
Activity | Multi-Sector Retailing |
Nationality |British brand |
Created | 28 September 1884 in Leeds (United Kingdom) |
Employees | 78,000 people |
Stores | 600 stores in UK295 International stores in 41 territories |
Vision | “To be the standard against which all others are measured” |
Mission | “To make aspirational quality accessible to all” |
Values | “Quality, value, service, innovation and trust” |
Web site |www.marksandspencer.com |
2) ORGANISATION ORIENTATION:
Organisation Orientation is a defined framework of an organisation that it uses to design its goals and strategic objectives. Each organisation has a different type of orientation that shows what it is focusing on. As stated by D. Jobber, the marketing concept is expressed as achieving corporate goals by satisfying the customer needs andexpectations better than other competitors. Organisations may adopt different types of organizations orientation to achieve its corporate goals. The different types of organisation orientations are mentioned below:
* Product orientation
* Production orientation
* Sales orientation
* Customer orientation or Marketing Orientation
* Product orientation focuses on the quality of theproduct. In this, companies believe that the customers are mainly interested in the quality of a product. But this approach pays less consideration to the customers’ needs and just focuses on producing high quality products. (F. Brassington & S. Pettitt, Principles of Marketing, 2006)
* A Production orientation company is focused on the costs. “The purpose of the organization is to manufactureproducts and aggressively sell them to unsuspecting customers” (principles and practice of marketing, David Jobber 2007) It deals with making products available at cheaper rates. In order to achieve this, companies produce large volume of products to reduce production cost per unit. This reduces the total costs and increases efficiency. It assumes that customers are cost oriented and making...