Report on M&S

2713 WordsApr 2, 200911 Pages
Sam Green Student Number 06113219 Foundations of Business 1) During the late 1990s and early 2000s Marks and Spencer’s went through a period of stagnation which led to losses in market share and profits. This was due to many different factors. Failing to communicate and keep updated with current and future customers has been the one of the downfalls of Marks and Spencer's strategy. Another of them being the fact that they did not pay attention to the new trends that were emerging within their market. Rather they rested on their laurels assuming that they had sufficient market share and brand power to sustain their position at the top of the high street clothing retailer market. However under the management of Stuart Rose who arrived in 2004 Marks and Spencer's has seen a steady rise in profits and regain some of its lost reputation. “My task... is to bring this business back to regain some of its former glory” Stuart Rose. This was achieved by looking at the trends within the market and adapting the portfolio of Marks and Spencer’s and acting accordingly with the appropriate marketing mix. The market continues to evolve and as such it is important that Marks and Spencer’s continue to analyse the trends in the market and also the expectations of its customers and comes up with the right marketing mix for the next five years to continue these improvements. In order to achieve marketing objectives there needs to be a strategy that includes different elements - the various parts of the marketing mix (Price, product, place and promotion). It is important that the current trends within the market are looked at in order that we can see what changes are required for the current marketing mix of Marks and Spencer's over the next five years. The two main trends I see developing over the next five years are the continuing shift towards wanting to

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