Marketing Essentials Assignment PDF | Mark and Spencer
Added on 2021-04-22
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Leadership ManagementMarketing
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Mark and Spencer Report 1MARK AND SPENCER REPORTby (Name)The Name of the ClassProfessorName of the SchoolDate
Mark and Spencer Report 2Overview of the Company (Mark and Spencer)Mark and Spencer (abbreviated as M&S), a UK retail company has a history which dates back to 1884 when it was first established by a Russian born Polish. Since then, the company hasgrown and opened more than 300 stores across the world apart from being the largest clothing retailer in the United Kingdom. The company has always been competitive in the market throughimplementation of new market techniques to attract and retain their consumers. For example, they introduced the online shopping platform in 1999 which was available in their official website enabling their customers to shop at the comfort of their homes. At the time, the internet has just begun to get into the general population and therefore, Mark and Spencer took the advantage at the right moment (Marks and Spencer, 2018)).It was in 2000 when the Mark and Spencer came up with healthy ‘count on us’ varied products which were fit to the individuals on diet. They opened ‘simply food’ stores in Twickenham and Surbiton in 2001 whereby, these stores only dealt with healthy food only unlike the rest of their normal stores which supplied clothes and other home furnishing products. Their target market included;WomenThe M&S realized that they needed to be on the lead in terms of looking for high class customers who will not only boost their turnover but also bring more profits to the firm. A ‘Per Una’ brand of clothing was an initiative of the company to target women who were conscious to fashion.
Mark and Spencer Report 3MenM&S started a “Blue Harbour” brand of clothes which target male individuals who were into the casual wear. This brand of clothes were high end in terms of standards and quality. The brand was officially launched in January 2001.AthletesThe company also targeted the sports individuals by introducing the ‘View form’ in 2002.DB07 clothing were for children. The company did the design of this sportswear in collaborationwith David Beckham. The company works in strict compliance with their mission statement which is split into three sub-sections, that is; Vision- To be the standard in which the rest measures against (Marks and Spencer, 2018). Values- Quality value, innovation, trust and service to the customers. Mission- To make an aspirational quality which is available and accessible to everyone. Since the initiation of the company as well as their mission statement, M&S have kept their word to seethat they achieve all the factors involved. Role of Motivation and LearningMark and Spencer has persisted not only in the UK market, but also oversees due to its quality of products and their aim to meet individual customer’s demands. M&S has faced a lot ofchallenges along their way but they have always tried to keep up to the demands of their consumers or customers. The company has always been motivated and due to this, many companies within and outside UK look up to Mark and Spencer to measure themselves against this giant company thereby helping their company to grow in terms of customers and overall company growth (employees, profits and turnover) (Gong, Huang and Farh, 2009, p.770). Motivation helped the company in many ways that include;
Mark and Spencer Report 4Online shiftingIn the current century, online and specifically, mobile shopping in overwhelmingly increasing and in that case most of the retailers are focusing on optimizing their digital platforms to suite their customers. In this manner, they cope with competitive environment. The company executives of the M&S realized this challenge earlier enough and generated a fortune opportunity by creating and advancing their web experience with customers (Hartline, Mirrokni and Sundararajan, 2008, p.193). This greatly boost their sales and diversified their marketing strategies.M&S ran a successful test program that they implemented using the Webtrends Optimize.The purpose of the Webtrends team was to provide a valuable input in guiding the company on the strategic directions, steps and best practices that could gear the company towards their dreams. This became one of the valuable partnership to Mark and Spencer, and on realizing this, they capitalized on it and went further to streamline the partnership with the valuable consultantson their reach.Value for taste and customer satisfactionMark and Spencer has always been in the forefront of other companies when it comes to valuing their customers’ needs and preferences. The motivation that company has keeps their customers and attracts even more, thereby expanding their market share. They always consider the need to be consistent in adapting to the changes in the need of their consumers through introduction of new products and labels (Mullins, Walker and Boyd, 2012, p. 33). But it is through their motivation that they have kept their brand consistently for several decades.Brands Current Success
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