Marks and Spencer And Its Environment

This presentation discusses the internal and external factors affecting Marks and Spencer's business environment. It covers the company's strengths, weaknesses, impact on the context, and more. The presentation also highlights the impact of cultural, social, personal, and psychological factors on consumer purchasing.

Introduction
Marks and Spencer is the largest retailer in the United
Kingdom. However, some of the problems include
divisive positions, competition, rising costs, and
diminishing sales. Marks and Spencer should put its
resources to good use in order to address the concerns
related to external and internal business environment.
Marks and Spencer And Its Environment
Name of the Student
External Environment
Self-checkout is one of the most popular developments in modern
retail, particularly in grocery stores. This manufacturing trend is
intended to assist stores save money that would otherwise be
spent on cashiers whilst still providing customers with a faster
transaction encounter. Marks and Spencer, like most UK food
retailers, has installed a number of suicide checkout equipment in
its stores. The use of prepackaged meals has increased
dramatically in society during the last ten years. This could be
because, thanks to developments in food technology, ready meals
are more appealing than ever before. In any way, any grocery
store can benefit greatly from this gigantic new business. While
it's unknown how much of a market share Marks and Spencer
has, it's apparently one of the top ten ready meal marketers in the
UK. In the United Kingdom, Marks and Spencer is a well-known
brand.
How the company impact its context External
Environment
Marks and Spencer's primary competitors are
Sainsbury's, Debenhams, Sports Direct, ASDA,
Morrisons, John Lewis, Gap, TESCO, Next, Amazon,
Walmart, and others. The retail industry has become
extremely competitive as a result of the presence of all
of these competitors in the market.However, if the
organization continues to move in the same way without
modifying its policies and strategies, things will not go
well. It's because the retailer's performance continues to
deteriorate. As a result, the firm had to close several of
its outlets in France, the United Kingdom, and China. In
reaction to the present low-cost clothing business,
supermarkets have progressively kept up with fashion
trends in recent years, allowing them to compete with
high-street apparel retailers with their lower-cost
equivalents. Marks & Spencer is no exception, and
they've updated their apparel lines to stay on top of the
newest trends and keep their customers interested.
“Cultural, social, personal, and psychological factors all
impact consumer purchasing.
Internal Factors
Strength - For the past 137 years, Marks and Spencer has
been in the retail industry. Then became a multinational
brand, it was a Penny Bazar at Kirkgate Market. To get
here, the brand has gone through a number of challenges,
including surviving the Great Depression and economic
downturns.
Weakness - Marks and Spencer's sales have been declining
for several years, well before the covid-19 pandemic. For
example, due to a poor supply chain management system,
the company's annual sales decreased significantly in
2019. During the 2017 Christmas season, there was a
supply shortage. The number of incidents of supply
shortages is decreasing. Marks and Spencer has lately
opened retail outlets in Brazil, Russia, Poland, India, and
Indonesia, among other countries. In those countries, the
consumer market is enormous. As a result, the retail brand
should continue to expand in those markets and take
advantage of all prospects. In fact, the corporation intends
to add more than 100 new locations before the end of the
year.
References
Bocken, N., 2017. Business-led sustainable
consumption initiatives: Impacts and lessons learned.
Journal of Management Development.