The strengths of Marks & Spencer looks at the key aspects of its business which gives it competitive advantage in the market. How is the company reacting? M&S has sold almost all own-brand goods. In 2016 the company has also become completely transparent about its supply chain by publishing a map of where the company sources its products (Marks & Spencer, 2015). Finally, it will use Porters global generic strategy to analysis M&S, discussing how M&S attract different customers by using different strategy in the global environment. Retail enterprises further reduce business costs through the use of POS (selling real-time systems), MIS (management information systems), EDI (electronic data interchange), EOS (Electronic Ordering System) and other modern management techniques (Shankar, 2004). U.K. sales growth (up 9.7%) was driven by both food sales, which were up 10.2% (outperformed the market both on volume and value in the four . Almost 100% of sales of own-brand are a biggest difference for M&S with the general retailers. SWOT Analysis of Marks & Spencer evaluates the brand's strengths, weaknesses, opportunities, and threats. Both Marks and Spencer and John Lewis cater to a young audience with a good E-Marketing strategy to drive their business. Business activities are independent and dependent. As regards its fashion business, the speed with which the latest trends are being communicated to designers has increased as has the speed of transportation. Marks & Spencers head of clothing quits retailer after sales slip. The renowned company was established in 1884 by the founding partners Thomas Spencer and Sir Michael Marks. Founded in 1884, the more than a hundred-year-old chain has long been a household name in the United Kingdom (and elsewhere! Outdated systems have forced stores to accept deliveries of clothing in sizes they didnt want, and were slow to update details of the amount of stock on the shop floor. Do you have a 2:1 degree or higher? Competitors were obtaining products from sources outside of the UK at much cheaper prices while M&S continued to maintain rigid loyalty towards expensive local suppliers. Executive Summary. However, in the fiercely competitive market environment, operational management strategies are quite important for retailers to obtain a competitive advantage and access to greater income (Chase, 2001). In this study, strategic analysis is done on Marks and Spencer. 2. He displayed goods by category and price tag, getting rid of the bargaining traditional transactions. II. A general overview of Marks & Spencer is followed by a PESTEL analysis which offers a comprehensive look at the companys strategic business environment. (2014, September 1). Short Term: Mid-Term: Long Term: Trends: Bullish: Bullish: Neutral: . The company is utilising this trend by expanding its network of convenience stores, Simply Food, and planning the fastest food store opening programme in the history of the company in 2015/2016 (The Economist, 2015). 4) Diamond system: the State plays an important role in the success of enterprise competition. The decline of M&S post the 1990s was largely due to competitive retailers operating with foreign imports. The decline in sales lead to the head of the clothing branch of the company, John Dixon, leaving the company in July 2015 (Macalister, 2015). TaylorWessing. Food sales accounted for 49.8% of its UK business and had a market share of 4.3%. London: Marks & Spencer. Retrieved July 2016, from Marks & Spencer: http://corporate.marksandspencer.com/blog/stories/thinkinnovation-how-we%E2%80%99re-encouraging-innovation-across-mands%E2%80%99. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. It is estimated that currently the latter group comprise close to eight per cent of the workforce in the UKs M&S stores (Dentons, 2016). Marks and Spencer Group plc (commonly abbreviated to M&S and colloquially known as Marks's or Marks & Sparks) is a major British multinational retailer with headquarters in Paddington, London that specialises in selling clothing, beauty, home products and food products.It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index; it had previously been in the FTSE 100 . can be threats. The project also summarises the different segments on . 5) Existing competitors. Five reasons Marks & Spencer is struggling against its competitors The coronavirus has had a big impact on the retailer, but that cannot hide other shortcomings Marks & Spencer to cut 7,000. Marcos. Now they sell stylish, high quality; great value clothing and home products and outstanding quality food. BBC. Heres how the Brexit Referendum is affecting the UK economy so far. M&S has been affected by the recession and has seen a big slump in sales in 2009, a fouryear decline in its clothing sales and most recently, a ten-year low in its clothing sales in the second quarter of 2016 (Davey, 2016). (2011, July 28). Marks and Spencer will be in the form of time by phone to inform new members of the listing, the monthly will be in the form of a letter seeking the views of members. Marks And Spencer: A SWOT Analysis. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360 view of the company. In Marks & Spencer SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors. M & S retail as an industry has its own specific competitive structures, which can be analyzed from the Porter five forces of competition: 1) Entry threat. Access in-depth analysis, premium industry data, predictive signals, . The M&S website currently has six million online customers and has yet to reach, engage and convert 14.5 million customers who engage with the company only at its High Street stores and shop online with its competitors (The Telegraph, 2014). The annual revenue of the company in 2020 was 10181.9 million pounds. The company from the early 20th century has become a national chain store. Some of the threats include: Competition: The main competitors of Marks & Spencer are Uniqlo, Gap, Tommy Hilfiger, Zara, and United Colors of Benetton. Poor online clothing M&S was slow to adopt online clothes shopping. However, in the fiercely competitive market environment, operational management strategies are quite important for retailers to obtain a competitive advantage and access to greater income. Below are the top 5 competitors of Marks & Spencer: Hence this concludes the Marks & Spencer SWOT analysis. Marks & Spencer launches new website to replace Amazon platform. Should M&S give up on clothes and focus on food? Different generations bring perceptible shifts in consumer behaviour, from the way customers do their shopping, the channels and technology they use to how products are perceived. ACCESS NOW More on Marks & Spencer News The supermarket bumped up . Subscriber Exclusive Subscriber Exclusive As the retail business more and more abundant supply of commodities, increasing the power of buyers, which forced more and more retailers adopt the low-cost, low-cost, high-quality service strategy, retailers profiteering opportunities less and less. Strong competition from other retail brands means limited market share, 2. 4) The bargaining power of buyers. Marks & Spencer is often referred to as the nation's favourite retailer. Its premium position is threatened by shifting customer preferences; they might prefer to shop for a label or look for similar quality products offered at a better price elsewhere (The Marketing Society, 2010). Due to a comparatively higher cost structure, the company has also suffered market share losses when entering new markets (Marks & Spencer, 2015). (2016). Retrieved July 2016, from The Guardian: https://www.theguardian.com/money/2016/jan/05/ms-raises stakes-battle-current-accounts-marks-spencer, Butler, S. (2015, May 20). 0 1 0. SWOT Analysis is a proven management framework which enables a brand like Marks & Spencer to benchmark its business & performance as compared to the competitors. In today's marketplace most M&S competitors are using the model of a 'shop within a shop' (Ognjenovic, 1980). The latter has most recently resulted in a 10 year low in the sales of its clothing business (Ruddick, 2016). . The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360 view of the company. In 2015, M&S experienced stalled growth in its international business due to global uncertainties, substandard infrastructure and decreased profitability in new markets which lead to the closing of twelve stores in 2016. They can introduce new market segments that offer more profit. Marks & Spencer brand perceptions on the rise as it is rated one of the UKs top brands. In combination with the reduced buying power of the pound and with 1.1 billion in revenue coming from international markets, the company needs to put together a strategic plan on how the likely impact of Brexit can be minimised. Recently it has utilised its customer loyalty data to organise targeted marketing and promotional activities and focus on high-impact promotions, which result in better value for customers and increased sales (Spencer, 2015). Over 80,000 employees form a part of the workforce globally. In addition, online supermarkets such as Ocado are starting to get the market share of traditional store-only food retailers. Once the biggest clothing retailer by volume, M&S has now dropped to third position after Primark and Asda (Butler, 2015). Large-scale commercial retail enterprises shall include at least the brand connotation of the brand of goods, services, brands, and on the basis of the previous two derived from the three-tier corporate brand meaning. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. In 1992, the company has 280 chain stores in the United Kingdom with sales of 75 billion dollars. It has moved from a platform hosted by Amazon to its own web platform which was launched at the end of 2014 to provide more delivery options and streamlined multichannel services. The company's international development through franchise agreements offers it a significant competitive edge over other UK enterprises that solely operate in the UK market (Rogers, 2012). Whether the company is well enough prepared to preserve its spot as the leading food and clothing retailer in the UK market and abroad remains to be seen. The geographical diversification inherent in the international strategy of M&S mitigates any potential risks of being overly exposed in a single country whilst its two-fold international business (food and clothing) is providing even more stability (BBC, 2013). Marks & Spencer ranks 1st in Employee Net Promoter Score on Comparably vs its competitors. Other retail stores are a threat due to their discounted prices 2. Multiple initiatives including adding new sub-brands such as Autograph and Per Una, attracting employees from rival companies as well as launching a website in 2014 have been introduced in an attempt to strengthen the clothing arm of the business and thus reverse a decade of market share decline in what was once considered the companys most profitable business (The Telegraph, 2014). 5 kinds of factors are the threat of potential entrants, threat of substitutes, the bargaining power of buyers, suppliers and the bargaining power of existing competition within industry. Its own M&S.com was only launched in 2014 after three years of development (The Telegraph, 2014). ). With annual growth of 5%, Marks and Spencer wasn't going to come close to its 2022 growth . With the emergence of electronic commerce, M&S also creatively establish a website, combining traditional retailing with e-commerce. Along with that, the change in the social market is appearing as the new challenge in front of the Marks and Spencer, as customers taste and demand are changing almost every day. M&S website temporarily suspended after leaking customers details. Business Strategy: Managing Uncertainty, Opportunity, and Enterprise. Valuable - Is the resource valuable to Spencer Marks. Through joint, mergers, acquisitions, joining, enterprise implements chain operations, the rapid expansion of operation scale, to achieve business activities standardization, specialization, centralization. It is associated with lifestyle and Retail since it operates in the retail sector. The advantage that M&S is different from these competitors is its depth and breadth of product portfolio and a unique marketing strategy (David Campbell, 2009; Lowson, R.H. 2001). Keywords: M&S; Marks & Spencer; SWOT; PESTEL; Porters Five Forces; Strategy; Value Chain Analysis. The outcomes through analysis and discussion give a useful help to retail industry. According to an estimate, Marks and Spencer have more than 1463 location points in Asia, Europe, and the Middle East, and out of which 1035 stores are in the UK. This resulted in customers cancelling delayed orders (Butler, 2015). MBA Skool is a Knowledge Resource for Management Students, Aspirants & Professionals. In its clothing business, it has introduced free delivery for purchases above 50, free next day store collection and free returns by post or in store up to 35 days after purchase. In the 07 and 08 fiscal year, sales exceeded 90 billion pounds. Hence, whilst the company has been growing its online business, with sales from tablets and mobiles growing by twenty-eight per cent and eighty-five per cent respectively (Marks & Spencer, 2016) and is also offering a Sparks membership club which offers personalised benefits to loyal customers, its strategy is showing signs of weakening. As a popular and accessible retail store, it is very popular among super markets. Retrieved July 2016, from BBC: http://www.bbc.com/news/business-22104228, Brignall, M. (2016, January 5). Marks and Spencer PLC Introduction Marks and Spencer is one of the leading British retailers and it is based in London, UK. However, despite considerable barriers to entry, the company is facing incoming competition in both its clothing and food sectors. As regards the companys food business, of the four big supermarkets in the British market Tesco, Asda, Sainsburys and Morrisons Tesco and Sainsburys have already developed a high quality range of foods which were previously considered a traditional market for M&S (Ruddick, 2013). 2. - provides you an in-depth strategic SWOT analysis of the company's businesses and operations. According to Joseph L. Bower, Christine Harris of the case study following are the critical resources that are valuable to the firm - financial resources, human resources, marketing expertise, and operations . Macroeconomic factors and a weakening euro are still considered to be a challenge, especially in the Middle East (Marks & Spencer, 2016). For M&S, basic earnings per share are 1,6p, whereas for NEXT Plc, basic earnings are share is 416,7p. Marks&Spencers is a leading retailer of clothing, food, home ware and financial services. The company was too slow to close or move outlets to busier spots and did not invest enough in updating. 4 year average Net Profit Margin. . Compare Marks & Spencer to its competitors by revenue, employee growth and other metrics at Craft. Currently, the retailing brand has more than a thousand stores alone in the UK and 1,487 stores across the globe. Its external environment can be assessed in the following manner in light of Porter's Five Force Model: It belongs to products and services . Retrieved July 2016, from The Guardian: http://www.theguardian.com/business/2015/jul/16/marks-spencersclothing-director-set-to-quit-after-sales-slip, Makos, J. As they operate in. The company is losing key employees to its main competitors, including product developers, food technologists and General Merchandise design team members. Because it takes a specific consumer group focused to meet their needs, so companies can be more economical than the other competitors, more thoughtful to meet their needs (Mittal, 2004). Abstract Strategic position: Marks and spencer is operating in a very competitive environment and there are many factors that affect the company in the outside environment. Cost leadership strategy is to low operating costs or fees. In the retail sector in which Marks and Spencer operates, competition is strong and growing - the company is facing intense rivalry from supermarkets chains, homewear stores and fashion retailers. Retrieved July 2016, from Reuters: http://uk.reuters.com/article/us-m-s-outlook-idUKKCN0ZN0EH. 3. Our academic experts are ready and waiting to assist with any writing project you may have. Select the target build-up strategy, first, to conduct market research and market segmentation. Retrieved July 2016, from The Telegraph: http://www.telegraph.co.uk/business/2016/05/22/the-week-ahead-in-business-and-finance/, Curtis, S. (2015, October 28). The four components of VRIO used in Marks and Spencer Ltd. analysis are -. This is an example of the high standards by which the company abides. Like many other retailers, Marks & Spencer has been hit hard by the pandemic but it is also dealing with years of missteps. Competitor comparison. This will not only result in the company having to invest in the recruitment, hiring and training of new employees, but also in the company facing the risk of its show how, know-how and contacts (related to current or potential contracts and business) becoming readily available to competitors (Davey, 2016). Companies should choose a potential market segment as its target market that will not conflict with a strong competitor. At present, 80% of M&S operating goods have the brand of St. Strategic Planning and SWOT Analysis. The difference amongst the gross profit alone is a colossal 700%, with the . The company has a long history in the UK market, with its first store dating back. The international franchise businesses of M&S in the Middle East, Russia and Ukraine also suffered significant decline due to geopolitical instability, local currency fluctuations and decreased consumer demand (Marks & Spencer, 2015). Close cooperation of both sides ensures Marks and Spencer to achieve its corporate objectives provide its goal customers with high-quality product within the ability to purchase.. product, price, place, and promotion strategies of Marks & Spencer. There are several brands in the market which are competing for the same set of customers. Thus, Martha has become the worlds largest no plant manufacturers. M&S persists in shaping its own brand into image of a healthy environment, in its own brands contains a fair trade, sustainable, non-genetically modified products, animal welfare and so on. The case with M&S is a scenario of rapid organisational transformation, which was based on a vision imposed on the company in a mainly directive fashion, down from the top, by its management and CEO, but which could potentially lead to a widespread change of attitudes and behaviours in the company. Marks & Spence: From pants to panettone. The content on MBA Skool has been created for educational & academic purpose only. The company had been in its business for more than hundred years and has the biggest market capitalisation in the retail industry. Marks and Spencer is a British retail giant specialised in apparel and food industry. However, in the fiercely competitive market environment, operational management strategies are quite important for retailers to obtain a competitive advantage and access to greater income. Martha is a retail business founded by a Jewish immigrant in United Kingdom 1884. With sustainability becoming an increasingly necessary and lucrative strategy, the company is ahead of its competitors in this area. Marks and Spencer Group plc (MKS) - Financial and Strategic SWOT Analysis Review. Commercial retail enterprises can be achieved through the following areas cost leadership (Voss, 2003). Marks & Spencer remains the UKs biggest seller of clothes, by value, but it has lost ground to rivals. Marks and Spencer SWOT Analysis Strengths. M&S decisively changed its thinking, making sell project focused on clothing and food, and expanding rapidly, with unprecedented turnover. Marks and Spencer Group (M & S) is an iconic and leading retailer of food, home ware and clothing items in the UK and worldwide. Porters competitive strategy theories are mainly five force model, general strategies, value chain, diamond system and industrial clusters. Registered office: Creative Tower, Fujairah, PO Box 4422, UAE. The company is employing approximately 80000 people in 2020. The company has its main presence in UK where it operates over 700 stores. However, in August 2020, the company announced that it would cut down 7000 jobs due to the covid-19 pandemic. Marks & Spencer Place & Distribution Strategy: Following is the distribution strategy in the Marks & Spencer marketing mix: Marks & Spencer is an international brand which has got more than 1000 stores operating in more than 50 countries. The management believes in collecting and assigning cost data that is being shifted away from control. M&S has multiple channel operations and allows customers flexibility in terms of order and delivery options, including online shopping. Marks & Spencer plc is known through its 1,382 stores worldwide. 4. Despite a slight rise in April 2015, the companys clothing sales have being falling for four years in a row with the company facing its worst quarter since 2005 in the second quarter of 2016 (Davey, 2016). The new reporting regulations M&S adopted in 2014, including a summary of their remuneration framework (Marks & Spencer, 2015) aim to provide even greater transparency to its stakeholders. The group's international business accounted for 7.1% of turnover and had grown to 219 franchise stores in SWOT Analysis is a proven management framework which enables a brand like Marks & Spencer to benchmark its business & performance as compared to the competitors. Request Information. This paper examines Marks & Spencer Plc an iconic brand and one of the UKs leading retailers. The reactions of managers to such type of data rely on the expectations or the formal budget or planned targets. Volatility Over Time: MKS's weekly volatility (6%) has been stable over the . But the retailer has gone from turnaround plan to turnaround plan since the turn of the millennium, and time is starting to run out. When compared with the 26 weeks to 28 September 2019, M&S found in the half-year to the 2 October 2021 that while overall clothing and home sales were down 1%, online sales for the category were up. The companys international expansion via franchise agreements gives it a strong competitive advantage compared with other UK businesses that trading only on the UK market (Rogers, 2012). Whilst this strategy led to a short-term decrease in sales, it resulted in a long-term increase in consumer confidence due to British customers preference and desire to seek both value and quality. This involves a detailed analysis of their actions and how these would affect the future strategies of Marks and Spencer Enters China. A PESTEL analysis provides a framework to investigate a companys non-controllable external factors that have the potential to affect its operations. The low-cost of commercial retail enterprises, lead to lower barriers to entry the retail industry, retail businesses are always faced with the threat of new entrants. For this, PESTLE, SWOT Analysis should be done along with competitors matrix, Boston consulting matrix and Ans-off matrix. In response to this theme, Porter puts forward the analytical framework of Diamond System (also known as diamond theory). Analyse PESTEL for Monitoring your Business or Organization. (M$) MARKS AND . 91-97). Study for free with our range of university lectures! 1884, 21-year-old Michael Marcos in Kekegaite open-air market of United Kingdom Leeds City had opened a unique small stalls, which is the embryonic form of Marks and Spencer. Copyright 2003 - 2023 - UKEssays is a trading name of Business Bliss Consultants FZE, a company registered in United Arab Emirates. Retrieved July 2016, from The Guardian: https://www.theguardian.com/business/2016/jul/07/welcome-to-the-ms-merry-go-round. Marks & Spencer. Marks & Spencer: Quality worth paying more for. Competition: Very high: the levels of competition in the apparel, food, . Here is the Pestle Analysis of Marks and Spencer. Third is using capital operation, expanding the enterprise scale. Marks & Spencer has achieved a paperless management, which ensures that all over the world Martha chain can continue to run in an orderly manner. From raw material procurement, manufacturing, to sales, they strictly control the quality, allowing consumers to taste delicious food while taking care of nutrition and health. Some operation management theories are applied in the process of analysis. (2010). The companys food and clothing and homewear stores are often located in locations that are attractive as targets for terrorists due to the large footfall and whilst there has been an increase in safety measures, the latter can also alienate customers if, for example, screening or security measures are implemented (Whitehead & Foster, 2015). The 20th century, 80s, it began to lease satellite transmission, integrated global marketing data, the commodity management, logistics and distribution, global procurement and data processing of all applications of advanced modern information technology to significantly reduce the cost, annual savings of more than competitors) 750 million of dollars in spending. Online fashion retailer, ASOS, has been one of the companys main competitors in recent years (Davey, 2016). In addition, Porters Five Forces Analysis discusses the industrys competitiveness and the firms competitive positioning in the marketplace. In 2015 a third of the companys products had been sourced from Gold and Silver sustainability standard producers, while another initiative called Shwopping has resulted in 10.6 million garments (equating to 7.3 million) being donated to Oxfam (Marks & Spencer, 2015). The companys legal environment and hence its legal department were paramount during the companys Simply Food chain expansion in 2007 and especially in allocating new store sites at BP petrol stations (Dry, 2007). Yet, these attempts have so far not resulted in a desirable outcome (BBC, 2013). The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Welcome to the M&S merry-go-round. The former, once the flagship of the company, has suffered a considerable decrease in its market share over recent years and reached a ten-year low in terms of sales in the second quarter of 2016 (Davey, 2016). A case study analysis report of Marks and Spencer . WIN PERFECT CELEBRITY CHRISTMAS GIFTS. Technology trends in fashion. Short Term: Mid-Term: Long Term: Trends: Bullish: Bullish: Neutral: . Porters model was designed and developed by Michael Porter in the 1980s to determine the competitive intensity and attractiveness of an industry (Spencer, 2015). The article below lists the Marks & Spencer SWOT, competitors and includes its target market, segmentation, positioning & USP. The retailing sector has a low threat of new entrants due to high capital investment costs needed to enter the market, market maturity and strong brands names which have gained customers loyalty. Facing fierce competition, M & S retail businesses have successfully used a variety of competitive strategies to improve their competitiveness. Guinness World Records reveals that volume of the companys flagship store in London MarbleArch is 3700 dollars per square foot. We will be discussing Marks & Spencer's SWOT Analysis. External Analysis of Company: Marks & Spencer is one of the recognized names in retail products and other aspects related to the organization have ensured a sound presence across the corners of the world. The basis of obtaining competitive advantage is to derive a competitive strategy that provides the customers with what they need or want in a more effective way than the competitors. ; S weekly volatility ( 6 % ) has been created for &. Worth paying more for UK economy so far not resulted in a 10 low! 7000 jobs due to the covid-19 pandemic of own-brand are a biggest difference for M & S with the retailers... 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