Marks & Spencer Strategic Analysis
Added on 2020-05-08
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Running head: BUSINESS STRATEGYBusiness StrategyName of the StudentName of the UniversityAuthor’s note
1BUSINESS STRATEGYExecutive summary In this report a detailed discussion has been conducted to understand the marketing strategy andto develop a future plan for Marks & Spencer. As a legendary British brand the company has areputation for supplying products which are high in quality as well as affordable in price. Thecompany has focused in expansion along with sustainable development of business. This reportwill help understand the mission and vision of the company along with several analysis of themarket strategy and policies taken by the company using space matrix, BCG matrix, SWOTanalysis, Ansoff matrix, Pestel and porter analysis to identify the external business environment.This report also includes a stakeholder analysis; a new strategy has been developed andthoroughly analyzed.
2BUSINESS STRATEGYContentsIntroduction......................................................................................................................................4Task 1...............................................................................................................................................61.1 Business Mission...................................................................................................................6Business Vision...........................................................................................................................6Business goals and objectives......................................................................................................6Core competencies.......................................................................................................................71.2 Factors to be considered while devising a strategic plan for Marks and Spencer.................71.3 Space Matrix..........................................................................................................................9BCG Matrix...............................................................................................................................10Task 2:...........................................................................................................................................122.1 SWOT analysis....................................................................................................................12Ansoff matrix.............................................................................................................................142.2 PESTLE Analysis................................................................................................................16Porter’s Five Forces analyses....................................................................................................172.3 Stakeholder Analysis...........................................................................................................182.4 Strategy................................................................................................................................19
3BUSINESS STRATEGYTask 3.............................................................................................................................................203.1 Market entry.........................................................................................................................20Substantive growth....................................................................................................................203.2 Justification of the new strategy..........................................................................................20Task 4.............................................................................................................................................224.1 Roles and Responsibilities:..................................................................................................224.2 Resource Requirement.........................................................................................................224.3 Smart Analysis.....................................................................................................................23Conclusion.....................................................................................................................................24Reference list:................................................................................................................................25
4BUSINESS STRATEGYIntroduction Being almost one hundred and twenty years in the business makes Marks and Spencerone of the pioneers in the retail industry. Over the years the company has set benchmarks forother companies in many different ways. Established in 1884, by Michael Marks from Slonim,Russia and Thomas Spencer from Yorkshireopened a store in partnership at Manchester. TodayMarks and Spencer is one of the leading retailers in the world having almost around 454 storesaround 55 counties around the world. The company has more than 979 stores only in UK. Thereare almost 84,939 people employed by the company. Over the years of operation the companyhas faced several challenges and issue but the organization has always continued its growth andhas been successful in establishing a brand image and brand loyal customer base both in UK andabroad. The company mostly deals in fashion and clothing, Home Ware, Food, Technology,Beauty, Financial Services, Energy and Hospitality. The company has earned revenue of £10.6bnin the financial year 2016-2017. As the establishment date of the company goes way back to thepages of history there are several layers of interesting facts about the company. The companyarchives all these facts and figures as uses them as an advantage to decide and make policies anddecisions even today. To commemorate the heritage of the organization as well as the partnersthe management had decided to open a stall at Kirkgate Market in Leeds, in 2013. This is thesame place that Michael Marks began the journey of this organization in 1884. The company hasevolved over the years the aims and objective have changed the marketing strategies havechanged; the company has balanced the operations of the business with the dynamics of thechanging world and the economy (marksandspencer.com 2017). The company is more customerscentric and places the needs and requirements of the consumers before the requirements of thecompany. Marks and Spencer is a company that is dedicated to creating every moment special
5BUSINESS STRATEGYfor the customers. The company is committed to offer the customers premium quality, selfowned food, clothing as well as home decor items. There are 1433 stores all over the world andthe company has also recently opened the e-commerce site to keep up with the changing trendsof the business. Today sustainability and principles are two most important values that at thecompany priorities over any other objective or goal. In January 2007, Marks and Spencer initiatea project called Plan A in order to focus on some of the important and pressing environmental,social and ethical issues. The project is now ten years old and after this span of time and twomajor updates the project continues to lead the sustainable and global ethics business model ofthe company. In 2017 Marks and Spencer has launched some improved policies andcommitments that have been developed to transition Plan A into a new way of working andengaging with our customers (marksandspencer.com 2017).
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