Marks and Spencer SWOT Analysis Strengths. M&S being a global retailer means they are exposed to different political facts in countries they work in. A general overview of Marks & Spencer is followed by a PESTEL analysis which offers a comprehensive look at the companys strategic business environment. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. Govt policies for retail stores. Stable Share Price: MKS is not significantly more volatile than the rest of UK stocks over the past 3 months, typically moving +/- 6% a week. 3) The bargaining power of suppliers. The low-cost of commercial retail enterprises, lead to lower barriers to entry the retail industry, retail businesses are always faced with the threat of new entrants. M&S is a listed company under the London Stock Exchange. Over the last one quarters, M&S's revenue has decreased by 0%. The company is losing key employees to its main competitors, including product developers, food technologists and General Merchandise design team members. The 133-year-old Marks & Spencer has been busy closing stores around the world and plans to close 53 wholly-owned stores . No plagiarism, guaranteed! He displayed goods by category and price tag, getting rid of the bargaining traditional transactions. Retrieved July 2016, from The Telegraph: http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/10647939/Marks-and-Spencerlaunches-new-website-to-replace-Amazon-platform.html, Vizard, S. (2015, July 15). 2. Marks & Spencer plc is well-known for its 1,382 outlets throughout the world. M&S decisively changed its thinking, making sell project focused on clothing and food, and expanding rapidly, with unprecedented turnover. He thinks factors that may strengthen their national enterprises to create competitive advantages include factors of production, demand conditions, business strategy, structure and competitors, related industries and support for industry performance. 1884, 21-year-old Michael Marcos in Kekegaite open-air market of United Kingdom Leeds City had opened a unique small stalls, which is the embryonic form of Marks and Spencer. Jun. Only 18.5% of its clothing and home sales were online. Technology trends in fashion. Porter through the study of industrialized countries finds industrial cluster is a common phenomenon in the process of industrialization, in all developed economies, are it is clear that a variety of industrial clusters. Marks & Spencer is one of the UKs leading retailers with over 21 million people visiting their stores each week. Should M&S give up on clothes and focus on food? (2016). Its external environment can be assessed in the following manner in light of Porter's Five Force Model: It belongs to products and services . 3. product, price, place, and promotion strategies of Marks & Spencer. First it outsourced to Amazon, missing the opportunity to develop skills and gather information on its shoppers in the early days. From a market positioning perspective, since the 20th century, 30 years, M&S makes middle-class as a sale object, and make every effort to provide them with quality-price ratio appropriate goods. According to Joseph L. Bower, Christine Harris of the case study following are the critical resources that are valuable to the firm - financial resources, human resources, marketing expertise, and operations . Key Highlights Marks and Spencer Group plc (M&S or 'the company') retailer of general merchandise and . Almost 100% of sales of own-brand are a biggest difference for M&S with the general retailers. The threats in the SWOT Analysis of Marks & Spencer are as mentioned: 1. Having begun as a market stall, today it is considered to be one of the UKs leading multinational retailers with over 1,382 stores worldwide, including 468 stores in Eurasia and the Middle East. Almost no food online M&S will begin selling its main food ranges online on 1 September, after missing out on the market for years. M&S entered the market in the late 1880s with a 'no frills' strategy (Johnson G & Scholes K. 2002. pp320-323). Retrieved July 2016, from European Commission: http://ec.europa.eu/environment/ecoap/about-ecoinnovation/business-fundings/united-kingdom/488_en.htm. When enterprises have become a cost leader, they can effectively compete against the other forces of competition, obtaining advantage in competition. Al-Shabaab calls for attacks on Oxford Street and Westfield centres in new terror threat. Some factors like increased competitor activity, changing government policies, alternate products or services etc. Retrieved July 2016, from The Telegraph: http://www.telegraph.co.uk/business/2016/05/22/the-week-ahead-in-business-and-finance/, Curtis, S. (2015, October 28). (2015). Consequentially, the slight decline of sales and share prices in 2008 were followed by steady improvements in both these indicators a year later, thus escaping the hard to reverse grip of discounted prices felt by many other competitive retailers (The Marketing Society, 2010). 7.26 %. The geographical diversification inherent in the international strategy of M&S mitigates any potential risks of being overly exposed in a single country whilst its two-fold international business (food and clothing) is providing even more stability (BBC, 2013). Marks and Spencer plc was set up in 1884 in Leeds by Michael Marks and re-branded as Marks & Spencer (M&S) ten years later when a partnership with Thomas Spencer was formed. Marks & Spencer is one of the UKs leading retailers with over 21 million people visiting their stores each week. All Rights Reserved, A Marketing an Analysis of Freespirit Retail Outlet, Essay on Zora Neale Hurston, the Gilded Six Bits. The industrys competitive position and comprehensive degree lead to economy structure changes within industry, to determine the intensity of but from industry inner competition and determine the ultimate profitability within the industry. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. can be threats. The group's international business accounted for 7.1% of turnover and had grown to 219 franchise stores in At the other end, fashion brands such as Zara, H&M, Gap and Next are targeting younger, fashion-oriented clientele with their latest fashions and affordable prices. M&S has to ensure that it does not obstruct any laws or regulations both in its home market, in international markets during expansion as well as in the countries alongside its value chain. Its own M&S.com was only launched in 2014 after three years of development (The Telegraph, 2014). Competitors were obtaining products from sources outside of the UK at much cheaper prices while M&S continued to maintain rigid loyalty towards expensive local suppliers. Click the button below to request a report when hardcopies become available. If your specific country is not listed, please select the UK version of the site, as this is best suited to international visitors. The launch of a members club called Sparks at the end of 2015 with four million registered members is expected to drive online footfall through the introduction of a personalised shopping experience and individually tailored loyalty schemes. It is associated with lifestyle and Retail since it operates in the retail sector. The move resulted in a considerable decline in the bargaining power of its British suppliers (BBC, 2013) and, hence, the bargaining power of its supplier is currently low. Dentons. Registered office: Creative Tower, Fujairah, PO Box 4422, UAE. Plan A, the companys social, ethical and environmental business commitments, have also helped the retailer build a strong brand positioning centred on responsible sourcing, waste reduction and community care (Marks & Spencer, 2016). The company is utilising this trend by expanding its network of convenience stores, Simply Food, and planning the fastest food store opening programme in the history of the company in 2015/2016 (The Economist, 2015). In addition, the in the implementation process of objectives accumulation strategic, the cost leadership strategy and differentiation strategy can also be used at the same time. Third is using capital operation, expanding the enterprise scale. 4. M&S is changing the business strategy timely when market environmental change, while the continuous improvement on strategy goes along with the change of customer demands. Original reporting and incisive analysis, direct from the Guardian every morning. Facing fierce competition, M & S retail businesses have successfully used a variety of competitive strategies to improve their competitiveness. View PDF. Competition: Very high: the levels of competition in the apparel, food, . However, post the 1990s M&S experienced a rapid decline in sales and was forced to outsource globally and work with overseas suppliers who offered much more competitive pricing. Retail Week. Third, accounting for the characteristics of the target market, it is to develop practical sales strategy, including determining the number of sales outlets, choice of a commodity business scope, pricing strategies. The employees are also loyal, and retention levels for the organisation are high. Retrieved July 2016, from Fortune: http://fortune.com/2016/07/11/brexit-referendum-uk-economy/, Rogers, T. (2012, October 4). Fashion Retail 2016: The future of fashion retailing in a digital age. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360 view of the company. It can dissociate a variety of business activities with the value of transmission methods in order to understand the cost features of enterprise, as well as existing and potential differentiation sources. Martha is a retail business founded by a Jewish immigrant in United Kingdom 1884. (2015, February). At the lower end of the market, under the umbrella of ASDA, brands such as George and Matalan are targeting previously loyal M&S customers with lower prices. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Analyse PESTEL for Monitoring your Business or Organization. During the financial crisis of 2008, while competitors such as Aldi, Asos or Tesco followed a strategy of discounted pricing, M&S emphasised higher quality products and better consumer satisfaction (The Marketing Society, 2010). Several shifts in the consumer market such as the increasing price sensitivity of customers seeking classical designs, increasing preference for fashionable items or the disloyalty of UK consumers to British products are increasingly affecting the retailer (Cunningham, 2016). Retrieved July 2016, from Marks & Spencer: http://corporate.marksandspencer.com/blog/stories/thinkinnovation-how-we%E2%80%99re-encouraging-innovation-across-mands%E2%80%99. The company has traditionally invested in TV and magazine advertising as well as in-store visual merchandising. Business activities are independent and dependent. This initiative has been largely praised and with its operating performance strong in 2015 (Marks & Spencer, 2016), is considered a threat to High Street banks (Jones, 2014). The company targets same C1 category customers. The decision will require new VAT rules as opposed to the VAT zero rating for intra-EU purchases and import duties and tariffs will be imposed (Dentons, 2016). In addition, the company experienced technical difficulties and privacy breaches on its website when introducing their members club and card scheme at the end of 2015, leading to a temporary website shutdown (Curtis, 2015). Select the target build-up strategy, first, to conduct market research and market segmentation. Marks & Spencer launches new website to replace Amazon platform. For M&S, basic earnings per share are 1,6p, whereas for NEXT Plc, basic earnings are share is 416,7p. SWOT analysis of Marks & Spencer analyses the brand by its strengths, weaknesses, opportunities & threats. M&S, currently operating in 59 territories across Europe, Asia and the Middle East via wholly owned retail businesses, retail joint ventures, retail franchise operations or websiteonly territories (Marks & Spencer, 2016) is developing particularly well in priority markets such as India, while its food business is growing in regions such as Hong Kong and Europe (Marks & Spencer, 2015). The main competitors of Marks and Spencer Group include Beacon Roofing Supply (BECN), Global-e Online (GLBE), Sprouts Farmers Market (SFM), Foot Locker (FL), Marui Group (MAURY), Signet Jewelers (SIG), Insight Enterprises (NSIT), Samsonite International (SMSEY), Kohl's (KSS), and Hagerty (HGTY). Retrieved July 2016, from The Guardian: https://www.theguardian.com/money/2016/jan/05/ms-raises stakes-battle-current-accounts-marks-spencer, Butler, S. (2015, May 20). The company which is currently 132 years old has built its image on offering a quality value-formoney products strategy has recently started refocusing on a low cost strategy for its clothing business. Here you can choose which regional hub you wish to view, providing you with the most relevant information we have for your specific region. Generally speaking, potential market segments should also have the following three conditions: 1) adequate, the reality of unmet demand or potential demand; 2) Enterprise has ability to provide products or services to meet these needs, and helping the can map; 3) Business in this market segment can achieve certain competitive advantage. Despite a slight rise in April 2015, the companys clothing sales have being falling for four years in a row with the company facing its worst quarter since 2005 in the second quarter of 2016 (Davey, 2016). Marks and Spencer like John Lewis is a multi-channel retailer and a close competition for John Lewis. Despite several setbacks in its in-store service, such as an increasing number of out-of-stock items (Ruddick, 2016) and online service (Curtis, 2015) M&S is investing in customer service. This paper first introduces the history of M&S and different market segment in M&Sand have an overview of Porters models of competition. The penny bazaars were a huge success . The company's food business is being rivalled by supermarkets such as Tesco, Sainsbury's and Asda, and it is competing with clothing and homewear retailers such as Topshop, Zara and John Lewis (Retail Week, 2016). M&S is investing in its digital development which is evident through the launch of marksandspencer.com in 2014, engaging with 2.6 million people via social media, platforms and social media websites such as Twitter, Instagram and Facebook (Ratcliff, 2014). M&S raises the stakes in battle over current accounts. M&S aims to become worlds most sustainable retailer. The strengths of Marks & Spencer looks at the key aspects of its business which gives it competitive advantage in the market. Analysis. Due to a comparatively higher cost structure, the company has also suffered market share losses when entering new markets (Marks & Spencer, 2015). Also read Marks & Spencer SWOT Analysis, STP & Competitors. (2015, May 20). Executive Summary. Indeed, Asda became Britains secondbiggest clothing retailer by volume in the summer of 2014 (Butler, 2015). Plan A, the environmental and ethical plan M&S has adopted to serve as a backbone to the way business is being conducted within and outside the company, has helped the company stay ahead of the curve by sourcing responsibly, reducing waste and helping stakeholder communities. Retrieved July 2016, from The Guardian: http://www.theguardian.com/business/2015/jul/16/marks-spencersclothing-director-set-to-quit-after-sales-slip, Makos, J. Once the biggest clothing retailer by volume, M&S has now dropped to third position after Primark and Asda (Butler, 2015). MOST RECENT 2022 Annual Report. Food sales accounted for 49.8% of its UK business and had a market share of 4.3%. The company's international development through franchise agreements offers it a significant competitive edge over other UK enterprises that solely operate in the UK market (Rogers, 2012). If you need assistance with writing your essay, our professional essay writing service is here to help! 1st jan. Capi. A dedicated digital lab team of 150 in-house software engineers is working to make sure the company stays at the forefront of technological developments (Marks & Spencer, 2016). Retrieved July 2016, from The Telegraph: http://www.telegraph.co.uk/technology/internetsecurity/11959667/MandS-website-temporarily-suspended-after-leaking-customers-details.html, Davey, J. Marks and Spencer Marketing Mix: Marks and Spencer, commonly called M&S, is a public limited company of British origin. How is the company reacting? Short Term: Mid-Term: Long Term: Trends: Bullish: Bullish: Neutral: . Organisations like Wal-Mart, Zara, Subway, and Tesco are few of the major competitors in the market. Comment: Retailers must heed Marks & Spencers international strength. And it has also characteristic of its own brand, types of goods is not exhaustive, but rather selective to provide customers with the best-selling inexpensive goods. Porters 5 forces analysis Global Telecom Industry. They used their resources and subsequent capabilities to exploit their differences from the competitors and create competitive advantage by: *Empowering suppliers/manufacturers with design responsibility *Closely managing supplier relationships As regards its clothing business, the threat of substitutes is high copying or imitating existing designs is becoming ever easier. However, in August 2020, the company announced that it would cut down 7000 jobs due to the covid-19 pandemic. Whilst this strategy led to a short-term decrease in sales, it resulted in a long-term increase in consumer confidence due to British customers preference and desire to seek both value and quality. In this study, strategic analysis is done on Marks and Spencer. Over 80,000 employees form a part of the workforce globally. However, in the fiercely competitive market environment, operational management strategies are quite important for retailers to obtain a competitive advantage and access to greater income. It is one of the most powerful retail brand with a top of the mind recall. U.K. sales growth (up 9.7%) was driven by both food sales, which were up 10.2% (outperformed the market both on volume and value in the four . We will be discussing Marks & Spencer's SWOT Analysis. Porters competitive strategy theories are mainly five force model, general strategies, value chain, diamond system and industrial clusters. (2016). Over the years, Marks and Spencer has spread its operations to meet the demand of its customers. TaylorWessing. Porters model was designed and developed by Michael Porter in the 1980s to determine the competitive intensity and attractiveness of an industry (Spencer, 2015). As Britain's favourite retailer loses relevance to today's shoppers, Retail Week asks: can M&S be saved? Customer firstly thinks a lot of commodities with high-quality and low price, which is Marks & Spencer sought-after standard. M&S can develop their website 2. The shopping experience is now largely seamless through the integration of online, tablet, mobile and the physical experience in the shop (TaylorWessing, 2015). We're here to answer any questions you have about our services. In addition, the strategy also adopted by the choice of the target market to find the weakest link in the existing competitors cut into, to avoid a competitor with a strong head-on collision. Other retail stores are a threat due to their discounted prices 2. External Analysis of Company: Marks & Spencer is one of the recognized names in retail products and other aspects related to the organization have ensured a sound presence across the corners of the world. of employees. Study for free with our range of university lectures! (2015). 5. The Marketing Society. 3. Second, analyze how M&S can running there business in the competitive environment, trying to explain more different market segment in M&S and how the different market segment works together, analyzing their competitive advantage in this cloth industry. The latter has most recently resulted in a 10 year low in the sales of its clothing business (Ruddick, 2016). This is an example of the high standards by which the company abides. M&S Bank, which was started in 1985, recently (2014) launched a current account facility with no monthly fee and a 100 M&S gift card. Further, the company has decreased its former dependency on full-service vendors (FSVs) and provided more corporate control of its supply chain. Products of Marks & Spencer (M&S) M&S has invested in a multitude of sub-brands, in-store bakeries and an improved in-store customer experience, thus meeting the changing needs of its consumers (Marks & Spencer, 2016). According to differences in consumer demand will be divided into different consumer market segments, so that enterprises can more effectively meet their needs. Marks and Spencer Case Study 3. Marks & Spencer to cut 7,000 jobs over three months. . Key Legal Brexit Issues for Retailers. After the First World War, due to a shortage of materials, a penny sales strategy is difficult to sustain. 'Loyal' customers were departing to competitors like Next, Gap and Oasis for trendier clothing at lower prices. Along with that, the change in the social market is appearing as the new challenge in front of the Marks and Spencer, as customers taste and demand are changing almost every day. Valuable - Is the resource valuable to Spencer Marks. 10% most volatile stocks in GB Market. Looking for a flexible role? Close cooperation of both sides ensures Marks and Spencer to achieve its corporate objectives provide its goal customers with high-quality product within the ability to purchase.. Marks and Spencer will be in the form of time by phone to inform new members of the listing, the monthly will be in the form of a letter seeking the views of members. Thus, Porter makes an extension of his research into the national competitiveness. 0 1 0. It made a massive investment in an automated home delivery warehouse which has struggled to cope with demand. , changing government policies, alternate products or services etc decisively changed its thinking making. 2016: the levels of competition, obtaining advantage in competition STP & amp competitors... 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