Marketing Analysis of Marks and Spencer

Marketing Analysis of Marks and Spencer

Introduction

Marks & Spencer is one of the highly renowned retail chains in the context of UK's retailing industry. M & S has been able to enhance its market reputation by successfully offering its diverse products to a highly diverse clientele. M & S has been known to offer diverse product ranges such as clothing, shoes, kitchen ware among other product categories. The differentiating factor in the case of Marks & Spencer has been the premium it offers to its customers. M & S offers its customers an inflationary price according to the product attributes for the sole reason that its products are prone to offer the highest value for its customers. There were two significant decisions taken by the M & S management which had a huge impact on its business fortunes (Bilton, 2007, pp. 67-78).

Firstly, M & S was quite keen to successfully continue with its image of providing a price premium when the competitors at that time were quite keen to reduce the prices with the aim of getting a huge chunk of the market. Secondly, it was quite keen to invest huge amounts in the brand building activities because of the fact that brand building activities have been of a huge significance in aiding the essence of value generated.

The justification for providing premium was necessary and M & S deemed it compulsory for using the brand building activities for providing justification in the context of higher investment in brand building. Providing a price premium can be successfully proved by applying the core concepts of brand building.

The brand momentum in the case of M & S has been hugely successful in shaping enhanced customer satisfaction and loyalty. With the onset of 2009, the share price and sales of M & S improved in a drastic manner which in large part is due to the brand building initiatives performed by the M & S personnel (Alexander, & Doherty, 2009, pp. 40-46).

Product Mix

M & S has put a lot of emphasis in the context of establishing different types of products that attract different types of customers. It has products in all the major categories and thus uses an expanded form of product mix. The aim of M & S personnel is to successfully transform Marks and Spencer into one of the highly recognized international retailer as well as transform it into a multi channel retailer. M & S has a plethora of products ranging from clothing to shoes as well as characterized by technology. M & S has made considerable progression regarding the business value generated and has gained huge popularity among its customers with an enhanced brand image and brand loyalty.

For instance if we take a look at the clothing sector, M & S has been known to implement its limited collection which consists of the kids clothing as well as men and women collection. The limited collection has been a huge hit ...