Marks and spencer is one of the largest retailer in the united kingdom with nearly 300 company owner Marks and spencer stores in its home market alone, the company specializes in selling clothing, footwear, gifts, home furnishings as well as food, with a large quantity of its products sold under the St Michael brand private label.
The company also operates and owns nearly 100 stores in Europe, Hong Kong and Canada and franchises over 85 stores in the Far East, Australia, the Middle East, the Bahamas and Bermuda. The company also own the Brooks Brothers chain of men’s clothing stores which consists of more than 170 units sold in the United States and Japan.
In 1894 Michael Marks, born in 1859 in a Jewish ghetto at Slonim …show more content…
• Since M&S operate in many segments like food clothing and others they have many competitors such as Tesco, Sainsbury, Zara, Gap and top shop.
• Customers are always looking new fashion cloths
• Internet allows the customers to shop from home online.
• M&S has not done well in the foreign market after expanding abroad.
• Competitive rivalry, Marks and spencer faces high rivalry in the clothing sector from next and gap, they also face high competition in the food industry from Tesco and Sainsbury.
• Bargaining power of buyers, the threat from buyers is high as they have large number of retailers situated very close by.
• Bargaining power of suppliers, the power of suppliers is low as there are concentrated purchasers.
• Threat of new entrants, is very relatively low as there the other retailers are already established.
• Threat of substitutes, there has been increase in retailers who import their goods from foreign countries, so consumers can buy the same products for cheaper price.
Consumer …show more content…
Since its incorporation in 1984 and international expansion in 1974, Marks and Spencer's has never compromised on these important factors; the reward of which is in the form of loyal customers all over the world.
Marks and Spencer's charges a medium to high prices for its garment products (reasonable price to very expensive price). But most of its products have premium prices which only target a specific upper class of consumers.
Marks and Spencer's has its 600 plus retail stores in the whole United Kingdom and a well-established international presence (marksandspencer.com, 2011). So its products are easily available in the cities and towns of UK as well as other developed countries. Moreover, Marks and Spencer's sells its garment products on internet through online shopping portals, like Amazon.com and its own website.
The promotion of Marks and Spencer's products is done through all the marketing mediums; like advertisements on television, internet and social media, major newspapers, fashion magazines, Marks and Spencer's broachers, etc.