Competition is so fierce that Marks and Spencer faces a big threat of losing its scope in the business. Being a popular brand, they need to protect their brand from misuse of fake imitation products. While sales in the clothing branch of the company are falling M&S, has a strong hold in the food business with a successful specialist strategy leading to an increase in sales. Competitor comparison. M&S has sold almost all own-brand goods. Below are the Strengths in the SWOT Analysis of Marks & Spencer : 1. As regards its clothing business, the threat of substitutes is high copying or imitating existing designs is becoming ever easier. Walmart Inc Headquarters. Marks & Spencer. 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). Macroeconomic factors and a weakening euro are still considered to be a challenge, especially in the Middle East (Marks & Spencer, 2016). Copyright 2003 - 2023 - UKEssays is a trading name of Business Bliss Consultants FZE, a company registered in United Arab Emirates. 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. We will be discussing Marks & Spencer's SWOT Analysis. Also read Marks & Spencer SWOT Analysis, STP & Competitors. The value chain is analysed to explain M & S's competitive advantages. Over the last one quarters, M&S's revenue has decreased by 0%. The companys 914 UK stores 222 owned and 349 franchises of Simply Food stores as well as the 302 full-line clothing and home stores and an e-commerce platform with over seven million registered users serve 33 million customers in two divisions (food and general merchandise) with a revenue of 5.2 billion and 4.0 billion respectively. How many Marks & Spencer retail stores are there in the United Kingdom? From the most developed countries show that, in the retail business and manufacturing enterprises bargaining in retail enterprises grow in power. Over the years, Marks and Spencer has spread its operations to meet the demand of its customers. The penny bazaars were a huge success . Comment: Retailers must heed Marks & Spencers international strength. 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). 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 group's international business accounted for 7.1% of turnover and had grown to 219 franchise stores in Enter for a chance to WIN a signed copy of Holly Willoughby's new book, 'Reflections', or an exclusive personalised video message from England Rugby star, Maro Itoje! Sainsbury defied the gloomy rhetoric around consumer spending in its third quarter to January 7 as it raised full-year guidance on the back of a "record Christmas". The Essay Writing ExpertsUK Essay Experts. In the case of M&S, the five forces that influence the industry are as follows: 1. Customer satisfaction business philosophy: customer satisfaction has always been Marks and Spencers business philosophy. Continuous investment in the scheme has resulted in numerous Plan A products, a Plan A incubator for the development of sustainable products and services as well as the first UK ecofactory (European Commission, 2011). The company, eponymous with its environmental and ethical Plan A green strategy, has also been critical of the lack of clarity in the governments flagship energy efficiency scheme, the green deal, as well as in its shifting green measures legislation. Facing fierce competition, M & S retail businesses have successfully used a variety of competitive strategies to improve their competitiveness. In the 07 and 08 fiscal year, sales exceeded 90 billion pounds. 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 . Marks and Spencer is a British retail giant specialised in apparel and food industry. Retrieved July 2016, from The Economist: http://www.economist.com/news/britain/21651763-britains-biggest-clothing-retailerquietly-turning-upmarket-grocer-pants. A shift from a strong focus on products to a more consumer-focussed strategy has benefited the company. For customers to eat well and well dressed has always been motto of M&S, which is also main historical reason for 100 years of food and clothing at the same time. Having only decided on implementing a digital transformation strategy in 2010, the company has been a latecomer into the digital user-centred retail space. If you need assistance with writing your essay, our professional essay writing service is here to help! The opportunities for any brand can include areas of improvement to increase its business. M&S then bungled setting up its own site, with an expensive high-tech warehouse that didnt work properly and a boring, clunky website. The annual revenue of the company in 2020 was 10181.9 million pounds. 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. The company's food business is being rivalled by supermarkets such as Tesco, Sainsbury's and Asda, and it is competing with clothing and homewear retailers such as Topshop, Zara and John Lewis (Retail Week, 2016). Marks and Spencer PESTLE Analysis Oct 14, 2019 by Thomas Bush Marks and Spencer (M&S) is a renowned British retailer that deals with food, clothing, and various home products. Subscriber Exclusive Subscriber Exclusive Marks and Spencer food sales offset clothing weakness. During the years of the financial crisis, the company continued its strong brand momentum by maintaining premium pricing and backing it through investments in advertising. The present assignment report is discussing about proper market research that help Marks and Spencer (M&S) to identify their growth and several marketing opportunities. 2) Replacement threat. It is associated with lifestyle and Retail since it operates in the retail sector. . Al-Shabaab calls for attacks on Oxford Street and Westfield centres in new terror threat. Click the button below to request a report when hardcopies become available. The renowned company was established in 1884 by the founding partners Thomas Spencer and Sir Michael Marks. Fabled U.K. retailer Marks and Spencer is trading near thirty-year lows. In addition, the recent Brexit vote is likely to have a substantial impact on the retailer in both its home stores and abroad. However, post the 1990s M&S experienced a rapid decline in sales and was forced to outsource globally and work with overseas suppliers who offered much more competitive pricing. Jones, R. (2014, March 7). Looking for a flexible role? (2013, April 11). Marks & Spencer's major business is in UK . 5) Industrial clusters: regional competitiveness has a great impact on competitiveness of enterprises. Fashion Retail 2016: The future of fashion retailing in a digital age. It can dissociate a variety of business activities with the value of transmission methods in order to understand the cost features of enterprise, as well as existing and potential differentiation sources. Retrieved July 2016, from Reuters: http://uk.reuters.com/article/us-m-s-outlook-idUKKCN0ZN0EH. 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. In addition, the competitive retailing landscape is going through another major transformation the steady rise of online and catalogue shopping and competitors offering goods of almost the same quality at affordable prices as well as convenient and enhanced in-store experiences for customers (Retail Week, 2016). Marks & Spencer launches new website to replace Amazon platform. / The business strategy of marks and spencer. It could supply goods whatever customer needs timely whether it is the variety of food products or clothing style. And it has also characteristic of its own brand, types of goods is not exhaustive, but rather selective to provide customers with the best-selling inexpensive goods. Most notably one is a billboard in his stall: Do not ask the price, a penny can be. This simple and eye-catching slogan quickly spread among the people in the middle and lower classes. Over 80,000 employees form a part of the workforce globally. Generally speaking, potential market segments should also have the following three conditions: 1) adequate, the reality of unmet demand or potential demand; 2) Enterprise has ability to provide products or services to meet these needs, and helping the can map; 3) Business in this market segment can achieve certain competitive advantage. 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). 2) The general strategy theory: Porter believes that the struggle with the five forces of competition, each company should only have two basic types of competitive advantage, namely, low-cost and product differentiation, which both with a special scope of business combination can be drawn from three types of successful strategic thinking, these three ideas is the overall cost leadership strategy, differentiation strategy and centralized business strategy. Revenue. Third is using capital operation, expanding the enterprise scale. It may need to restructure its supply chain once it loses access to the EUs open market and UK citizens working in stores in the EU as well as EU nationals employed in UK stores may be affected when the freedom of movement of workers is no longer applied in the UK (Dentons, 2016). Request Information. Marks and Spencer PLC Introduction Marks and Spencer is one of the leading British retailers and it is based in London, UK. 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). Marks & Spencer SWOT Analysis & Matrix provide insight into strategy,internal & external factors.Buy custom Marks & Spencer swot analysis $11.Strengths,Weakness Opportunities Threats. Commercial retail enterprises can be achieved through the following areas cost leadership (Voss, 2003). For this case study, Marks and Spencer is selected. Too many shops: M&S is closing a third of its 300 high . 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). It is expected to launch a redeveloped Bradford National Distribution Centre in 2016 (Marks & Spencer, 2016). We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. The company was too slow to close or move outlets to busier spots and did not invest enough in updating. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360 view of the company. Further, clothing sales reached a ten-year low in Britain (Davey, 2016) and falling oil prices negatively impacted stores performance in the Middle East (M&S, 2016). (2015, February). 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. Retrieved July 2016, from The Telegraph: http://www.telegraph.co.uk/news/uknews/terrorism-in-the-uk/11428309/Al-Shabaab-calls-for-attackson-Oxford-Street-and-Westfield-centres-in-new-terror-threat.html, Copyright Sofia, Bulgaria, 2023. The difference amongst the gross profit alone is a colossal 700%, with the . 10% most volatile stocks in GB Market. The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Marks & Spencer and suppliers have far more than a general partnership, but rather become a complicit relationship to work. M&S website temporarily suspended after leaking customers details. Following the UKs decision to exit the EU, the company, as will other UK retailers, is likely to face legal issues. . On the one hand, Marks & Spencer suppliers guarantees strict demands on product quality; the other hand, Marks and Spencer takes it as its responsibility to help suppliers reduce costs, care providers technological transformation and staff welfare (Tony Grundy, 2003). 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). The content on MBA Skool has been created for educational & academic purpose only. Food sales accounted for 49.8% of its UK business and had a market share of 4.3%. Here you can choose which regional hub you wish to view, providing you with the most relevant information we have for your specific region. Even though the company still holds the first position in terms of sales by value, its 14 quarter slump preceding a one-off rise in sales in the first quarter in 2015 makes it likely that the company will be moving its focus from clothes to food (The Economist, 2015). However, despite considerable barriers to entry, the company is facing incoming competition in both its clothing and food sectors. 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). Green consumerism and customers ethical concerns about the socio-environmental costs of brands they use is one of the factors contributing to the development of companies sustainability reporting and related activities. Retrieved July 2016, from RetailWeek: http://www.retail-week.com/comment/comment-retailers-mustheed-marks-and-spencers-international-strength/5041479.article, Ruddick, G. (2013, October 24). This paper first introduces the history of M&S and different market segment in M&Sand have an overview of Porters models of competition. 91-97). This initiative has been largely praised and with its operating performance strong in 2015 (Marks & Spencer, 2016), is considered a threat to High Street banks (Jones, 2014). In addition, in the past couple of months various macroeconomic issues, falling commodity prices, pound fluctuations and a sudden drop following the Brexit vote caused consumer confidence to drop. 1,105 17. Products of Marks & Spencer (M&S) Complexity and depth of different level of industrial clusters is different (Francisco J, 2009; Mohr, 2002). 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. Outbound logistics concerns the transport, storage and delivery of goods going out of a business. The Marks And Spencer Group Plc VRIO Analysis shows that Marks And Spencer Group Plc's employees are a valuable resource to the firm. Discover information and data insights on Marks and Spencer Group plc's key competitors and market peers. 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. M&S is investing in its digital development which is evident through the launch of marksandspencer.com in 2014, engaging with 2.6 million people via social media, platforms and social media websites such as Twitter, Instagram and Facebook (Ratcliff, 2014). Marks & Spencer plc is known through its 1,382 stores worldwide. In 1992, the company has 280 chain stores in the United Kingdom with sales of 75 billion dollars. We will be discussing Marks & Spencer's SWOT Analysis. Almost 100% of sales of own-brand are a biggest difference for M&S with the general retailers. (2015). M&S entered the market in the late 1880s with a 'no frills' strategy (Johnson G & Scholes K. 2002. pp320-323). 3. European Commission. Sector and Competitors. ACCESS NOW More on Marks & Spencer News The company is facing serious macro- and microeconomic issues despite its strong brand, solid positioning in the food business, and ongoing innovation in the digital transformation of its operations as well as the implementation of Plan A, its social, environmental and ethical business strategy. 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). Annual Report & Financial Statements. In 2015, this strategy helped the company maintain its market share in most of its markets and achieve strong sales in key owned markets such as Hong Kong or India (Marks & Spencer, 2015). Guinness World Records reveals that volume of the companys flagship store in London MarbleArch is 3700 dollars per square foot. Retrieved July 2016, from Monica Krish: https://monicakrish.wordpress.com/category/porter-five-forces-analysis-fortelecom-industry/, Macalister, T. (2015, July 16). The brand names and other brand information used in the SWOT Analysis section are properties of their respective companies. M&S approach is: from store to collect from the customer views and demands for commodities, and then from Marthas technical development department for product innovation and design (or with the manufacturer to design), and then delivered the manufacturer to produce the final re M&S Sales through distribution systems. M&S is in a good strategic position to enjoy the benefits of an altering media landscape, the proliferation of social networks and a rising mobile wave. The companys core strategy should be to choose the right industry, as well as the industrys most attractive competitive position. Marks & Spencer plc is well-known for its 1,382 outlets throughout the world. Both Marks and Spencer and John Lewis cater to a young audience with a good E-Marketing strategy to drive their business. M&S is a listed company under the London Stock Exchange. Let us start the Marks & Spencer SWOT Analysis: For Marks & Spencer, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position. M&Ss products are perceives as value for money due to quality, convenience and wide range of products. Due to a comparatively higher cost structure, the company has also suffered market share losses when entering new markets (Marks & Spencer, 2015). One of the companys initiatives, Behind the Barcode, gives consumers an omni-channel experience by enabling them to order items online for home delivery or in-store collection by scanning a product in-store (Thomson, 2012). 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). 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. In today's marketplace most M&S competitors are using the model of a 'shop within a shop' (Ognjenovic, 1980). M&S has to ensure that it does not obstruct any laws or regulations both in its home market, in international markets during expansion as well as in the countries alongside its value chain. Heres how the Brexit Referendum is affecting the UK economy so far. Weakened consumer confidence and a decrease in the buying power of the pound have already had an impact on sales growth, whilst the decision is expected to affect the retailer in various other ways in future years. Thus, Porter makes an extension of his research into the national competitiveness. Stores built for bygone age Stores built in the 1920s or earlier are now often the wrong size, in the wrong place or need huge investment to modernise them. 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). Marks & Spencer's main competitors include Lawson, Debenhams, Macy's, John Lewis Partnership, Aldi UK, Asda, Tesco, Next and Waitrose & Partners. The threats for any business can be factors which can negatively impact its business. Marks and Spencer SWOT Analysis Strengths. Second, analyze how M&S can running there business in the competitive environment, trying to explain more different market segment in M&S and how the different market segment works together, analyzing their competitive advantage in this cloth industry. Retail business once chooses differentiation strategy, it must be based on its own seeking to establish a brand image to reflect this brand image on the one hand business activities, on the other through the advertising campaign to promote this brand image. The industrys competitive position and comprehensive degree lead to economy structure changes within industry, to determine the intensity of but from industry inner competition and determine the ultimate profitability within the industry. Select the target build-up strategy, first, to conduct market research and market segmentation. 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). The company is losing key employees to its main competitors, including product developers, food technologists and General Merchandise design team members. SWOT Analysis is a proven management framework which enables a brand like Marks & Spencer to benchmark its business & performance as compared to the competitors. The company has closed its smaller regional warehouses and in 2010 it opened a super warehouse in Bradford. Analyse PESTEL for Monitoring your Business or Organization. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Threats in the SWOT analysis of Marks & Spencer. Standardization Management greatest advantage is that we can save a lot of management costs, while consumers can enhance the overall impression of the Marks and Spencer, giving them a home away from home shopping experience. M&S can develop their website 2. 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. 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. 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). Marks and Spencer Group plc (MKS) - Financial and Strategic SWOT Analysis Review. Marcos. The shopping experience is now largely seamless through the integration of online, tablet, mobile and the physical experience in the shop (TaylorWessing, 2015). MOST RECENT 2022 Annual Report. London: PricewaterhouseCoopers/TNS Retail Forward. Its clothing business, the company has been a latecomer into the digital user-centred retail space & academic purpose.... Conduct market research and market peers Bliss Consultants FZE, a company registered in United Arab Emirates MarbleArch is dollars. 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