Retail Marketing Assessment
Added on 2020-10-05
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RETAIL MARKETING ASSESSMENT
Table of ContentsSection 1: SWOT Analysis of a range.............................................................................................1Section 2. Recommendation ...........................................................................................................2Section 3. Support............................................................................................................................4Section 4: use of theory....................................................................................................................5Bibliography....................................................................................................................................7Appendix..........................................................................................................................................8
Section 1: SWOT Analysis of a rangeThe entire project is based upon the Marks and Spencer's apparel category of ladies jeansin United Kingdom. Moreover, I also chosen top brand for comparison of M&S with John Lewis& Partners and Next in which I realize the range of products for the particular category.It is observed that ladies perceive Marks and Spencer as more trustworthy anddifferentiated company as compared to its competitors. There are various range of product soldby M & S in a year. Among all, M&S is considered the ninth most popular shop in the fashionretailer in UK and its customers rating 4.10 out of 5 (Kerin and Hartley, 2015). Forimplementing changes it is important to know the strength and weaknesses of organization. It iswell-established organization and this is main strength of M&S to implement innovation inorganization that are related to specific product of company Marks and Spencer organization isgreat knowledge and high amount of capital that can help company to implement change inpricing policy for ladies Jeans. The track record of M & S is too good and lead to its reputationin market place as compared to John Lewis and Next.As compared to other brands, it is realized from uk.trustpilot.com that John lewis has badreviews and its performance with regard to fashion industry is slightly less popular as comparedto other brands specially in online selling and even people also mark 1 out of 5 star that isconsidered a bad review for John lewis (Liu, Jiang and Chan, 2019). It is evaluated that all three department's targets the mass marketing but Marks andSpencer and Next are the biggest player on the market of ladies fashion specially in jeans, butthey are also losing the market share due to technology which is used by Marks and Spencer isnot supporting the organization to meet demand of market. They need to make more investmentin technology and procedures that can improve production capacity of Marks and Spencer toimprove supply chain and also innovate new products. As a multinational and large organizationit is important to deal with factors that are based on the cultural diversity (Chernev, 2018).Further, M&S did not have strong online presence as compared to Next and John Lewis.The main challenge to M&S is the marketing policy and business strategy in new market.The standards set by organization in the old market place are good for company but for newtarget market a reform is required. Author state that M&S also closes many shops due to heavycompetition in market as it has low planning which operate only in fewer stores. That is why tostay competitive in market, it also open an online store as a new distribution centre.1
Moreover, Marks and Spencer is smaller in volume and price as compared to other rivalssuch that it offer the products seasonally, while other two competitors offer highly expensiveproducts. That is why, M&S have strong customer base and further by introducing newtechnologies like Artificial intelligence and automation are providing great opportunity to Marksand Spencer to improve its quality and productivity more. Organization can use variousinformation system and tools to gather information to make smart decision to improve thecompany (Moutinho and Vargas-Sanchez, 2018). This technology can also help M & S tointroduce new range of product in market. For development of different places governments areproviding various opportunities to build new market place on different location. This will alsoprovide support to company in fastest emerging markets.Apart from the others, all there companies offer regular size of jeans, but Marks andSpencer also offer slightly bigger size such as 46 and 47. John Lewis and Next also offer regularcolours to their customers but Marks and Spencer provide different colours which attractcustomers (Baker, 2016). With respect to style, it seems that Marks and Spencer did not providehigh and low rise Jeans and Bootcut jeans which is also in demand and if the company providethe same ranges, then it will easily maximizes its financial performance.From the above, I realized that in this era, there are more and more people in younggeneration and they mostly prefer o buy the products online because it is easy and save time aswell. On the other side, Marks and Spencer faces biggest threat form the online retail store suchas Amazon, eBay, ASOS which increases their share up to 17% in a year. That is why, companyshould invest in online marketing in its near future. Section 2. Recommendation In this section, I have suggested some recommendation which will help Mark andSpencer to introduce its new product that is women jeans in the market. The Mark & Spencer should launch a ladies jeans in the market. As per the statistics ofthe percentage growth of market of women's wear was about 51 %. If we consider the buying ofjeans by adults the proportion remain stable from the period of 2006 to 2010. Women's are morelikely to buy jeans which fit them properly (Shaw, 2016). In order to overcome this issue ofwomen the company should introduce a jeans which will provide comfort to women. Thecompany will introduce a variety of categorise in women jeans which are blacky skinny jeans,mom jeans, white strategic cut jeans, skater jeans and boot cut jeans. The company will target the2
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