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Retail Theory &Practice Assignment

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Added on  2020-06-06

Retail Theory &Practice Assignment

   Added on 2020-06-06

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Retail Theory andPractice
Retail Theory &Practice Assignment_1
Table of ContentsINTRODUCTION TO RETAIL......................................................................................................3INTRODUCTION TO COMPANY (250)......................................................................................3KEY RELEVANT CHANGES WITH THE UK FASHION RETAIL (600).................................3RELEVANT CHANGES WITHIN THE MICRO ENVIRONMENT (400)..................................5SUGGEST AND DISCUSS STRATEGIES AND TACTICS THAT COULD USED..................7RECOMMENDATION...................................................................................................................8CONCLUSION................................................................................................................................8REFERENCES .............................................................................................................................10
Retail Theory &Practice Assignment_2
INTRODUCTION TO RETAILFashion retail market is one of the trendiest and most wanting market, it is the one andonly market which faces market downturn in the UK last year nevertheless, and it is the highlygrowing and large share market in terms of getting customer preferences. Competition level infashion industry is highly large and wide in nature. Each and every organization has creatingdifferent and fashionable fashion trend for their potential customers. It makes highly profitableand demand able clothing sector (Brigham and et.al., 2016). In UK market there are hugenumber of competition by these brands such as Asda, Mark & Spencer, Tesco and many more.Retail fashion market defines where numbers of fashion designer dresses are available forpotential customers. In which number of different brands are available for buyers in less than oneroof, based on the importance of fashion retail sector for the international economy in general.This is the industry has short product life cycle and vat differentiation. Fashion retail industry isjust to create large number of customer in one single outline. This makes brand popular and largeearning. Besides, fashion industry is relies on the customer culture and taste and preferences. Itdepends on the buyer needs and wants. Buyers always prefer demanding, latest in trends andquality fashion clothes which belongs from high quality brands. Big fashion retailers acquirefashion clothing clothes and products from high branded product and services. INTRODUCTION TO COMPANY (250)Mark & Spencer is the British international retail brand of UK. It is known for its bigbranded product and services which is highly superior and demanding in the market. Itsheadquarter situated in Westminster, London (Clegg, Kornberger, M. and Pitsis, 2015). It is thelisted company in London stock market; it is specialize in the selling of clothing, home productand luxury food products. Mark & Spencer founded in 1884 by Michael Marks and ThomasSpencer in Leeds. They started their career from selling branded products through number ofcustomers get attracted towards the nature of company services. In current scenario they have979 stores across the United Kingdom. In 1998 M&S became the first fashion retailer to makepretax profit of over 1 billion. In November 2009 it was announced that Marc Boland was theformer of Morrison’s would take over as a chief executive chairman. Mark & Spencer providesall branded product and services on the basis of customer needs and wants. Moreover, theyalways maintained high demanding and latest customer products after analyzing the needs andwants of the customers. It is the big brand in the retail industry which attracts number ofcustomers (Cornelissen and Cornelissen, 2017). It also influence fashion industry and retailmarket which attract number of trendy buyers and enhance the growth of the company profitmargins.
Retail Theory &Practice Assignment_3

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