Comparative Analysis Study Of Marks & Spencer | Retail Industry
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Added on 2020-02-14
Comparative Analysis Study Of Marks & Spencer | Retail Industry
Added on 2020-02-14
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TABLE OF CONTENTSIntroduction......................................................................................................................................3Comparative Analysis of the company's competitive position in its various markets.....................3Competitive positioning...............................................................................................................5Strategic Positioning and competitive edge.................................................................................7TRADING ACROSS BORDER......................................................................................................8Strategic environment analysis....................................................................................................8Growth strategies.......................................................................................................................10Global environmental factors.....................................................................................................11Global marketing.......................................................................................................................12CRITICAL EVALUATION..........................................................................................................13CONCLUSION .............................................................................................................................14REFERENCES..............................................................................................................................162
INTRODUCTIONWith the help of globalization, the scope of growth and profit has been increasing sincebusiness entities are working beyond the boundaries. Globalization is regarded as the process inwhich business entity can connect with different organizations in a specific market which furtheralso helps in enhancing the business operations in other market places (Gilbert, 2003). Businessorganizations have been emphasizing on enhancing the trade boundaries so as to extend theoperations and also to encourage the level of profit and growth. All the successful companiesbelieve in expanding the business operations in different countries so as to get heights ofachievements. The present research study has been made on Marks and Spencer which is one ofthe competitive brand identity in retail industry. Thus, in such context the study has beendiscussing comparative analysis of Marks and Spencer with other business entity in the sameindustry. Researcher has made use of diverse theories and models so as to reach towards the aim ofthe study. In order to identify external environment of the business entity, PESTLE analysis hasbeen conducted and through which the areas of improvements have also been identified. Themodel has been applied so as to showcase comparative advantage of the business entity in thesame industry. In order to enter into new market place, Marks and Spencer has been emphasizingon new strategies and techniques and some are mentioned in the subsequent research work.Porter's Generic strategies are also applied in the present research study so as to evaluateappropriate and suitable strategy for producing new products. In respect to this, macro and microanalysis of the organization has been conducted for the purpose of defining growth aspects in theindustry. COMPARATIVE ANALYSIS OF THE COMPANY'S COMPETITIVEPOSITION IN ITS VARIOUS MARKETSMarks and Spencer has been a leading retailer in UK retail industry, principally in theretail of home products like apparel and food items. The business entity has combination ofproducts which it offers in varied market places with its brand label (Berman, Evans and Mathur,2010). It specializes in the selling of clothing, home products and luxury food products. Thecompany also began to sell branded goods like Kellog's Corn Flakes in the year 2008 which is a3
preferred product for the consumers of UK. All the marketing strategies of Marks and Spencerassists the business entity to create competitive edge over the rivalries and this also aids inaccelerating product line. Clothing sector is also another segment in which Marks and Spencer isdiversifying and this aids the business entity to include wide range of services and products(Peng, Wang and Jiang, 2008). Fresh food products are also in to the major product line of Marksand Spencer which aids the business entity to accomplish all the long term aims and objectives. Marks and Spencer is a renowned firm whose products and services creates high impacton customers and this thereby aids in retaining them for longer time span. As per the study ofBerman (2010), there are several factors that affects business practices of Marks and Spencer andalong with such factors, there are various dimensions as well that helps the business entity toaccomplish more growth and prosperity (Cooper, 2000). All such optimistic and pessimisticaspects raises the opportunities of competitive advantage and sustainability. The level ofcompetition has been increasing because varied organizations exist in the same industry. Marketshare of the company has been accelerating since Marks and Spencer is able to meet theexpectations of clients on higher extent. Thus, chiefly competitive positioning of the companyhas been increasing because of its value and categories of products and services. The level ofcompetition has been increasing due to largest industry players such as Tesco, Asda andMorrison (Burgemeister, 2003). In the below mentioned table, comparison has been maderegarding competitive advantage of Marks & Spencer and Morrison. Several dimensions havebeen included and on that basis, comparison has been made. Criteria for comparison Marks and Spencer MorrisonSales in the last five years(increment in amount)£10.300 billion £8.200 billionRevenue of the company inlast five years £481.7 million £389.8 million Presence in markets Marks and Spencer is presentin various markets and it has852 stores all over in UK. Thebusiness entity is popular inIndia, Egypt, Greece andMorrison has its presence inmost of the countries with 515stores. The business has itsown local stores spread acrossEngland, Wales and Scotland. 4
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