Essay on Marks and Spencer Market Failings

3540 Words Mar 4th, 2013 15 Pages
Analysis of Marks and Spencer of the turbulent background and market failings of the company in the 1990’s in comparison with today’s current successful marketing strategies, tactics and new direction of “Marks and Spencer”.

International Fashion Marketing

Cara Hitchener

799200

Word Count: 2,685

Contents

Introduction 2

Marks and Spencer Fashion Market Sector and Competitors 2

Proposed Future Strategies 4

Current Targeting and Positioning along side Market Segments
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* As the new CEO Stuart Rose stepped in, he quickly recognised the decline within the customer relationships. This was due to confusion and disappointment because they were not fulfilling their needs and desires. The competition became a struggle as more retailers were offering luxury brands and the same prices as M&S. Retailers including Tesco and T K Maxx were also offering basic clothing at lower prices.
(David Bobby (2007). Management: An Introduction. 4th. ed. London: Pearson Education.) * The customer’s desires and needs are becoming increasingly more demanding. When the store was first opened by Michael Marks, the type of customers targeted were working class people on low incomes. This shows that society is now changing through a conservative way because now the customers are middle class who are on a medium salary. (Chislett, H.C, 2009. Marks in Time: 125 years of Marks and Spencer. 1st ed. Oxford: W&N.) * In 2004, Marks and Spencer came up with a number of strategies to keep up with their competitors and improve the service’s they have to offer. They came up with fresh ideas for the women’s and men’s clothing range and included other improvements such as : (Marks and Spencer press release, 2004) * Marks and Spencer’s main competition within the fashion market sector would be Debenhams. Debenhams state that they are Britain’s favourite department store. However, Debenhams actually fall behind

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