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Monday, August 27, 2012

Has Marks and Spencer’s identified the right immediate marketing priorities? Assess its immediate action.

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Marks and Spencer’s has to some extent identified the right immediate marketing priorities. They have acknowledged their unsupported complacency in the market, amd realised that in such a fickle retail world, the product can no longer ‘sell itself’, but a marketing department is needed in order for such a company to compete on the global market successfully. By realising that attention is needed in several important areas of the company M&S has the foundations with which to deal with the problems that have recently incurred.


By dismissing nearly one quarter of the company’s top executives not only has the company slimmed down the senior management team and lines of communication, but it has also opened the opportunity to employ executives from other marketing environments


that could introduce a management style that is new to M&S


By presenting the customers with the full range of products in a co-ordinated way M&S is focusing on the consumer � what it wants and how it wants it, the company is making the final product and how it is presented a priority. This is a positive move as retail is about selling a product � the consumer only sees the finished good and it is crucial that M&S present the goods in a way that will sell the most.


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Perhaps the most crucial change that M&S has made is forming the first ever marketing department in January 1. From this M&S can develop its goals, priorities and focuses in order to secure the future by regaining and ultimately expanding its market share. Through the marketing department M&S can consider the external as well as internal environment that affects decision making, and quantifiable and realistic targets can be set not only to meet the needs of the company, but also to increase a somewhat flagging motivation amongst the employees.


As sales are gradually starting to increase M&S can invest more confidently in its new stores, promotion and product lines. Market share is being successfully regained and target markets established. 00 looks more promising than the previous years for Marks and Spencer � and with such priorities established it is hopeful that the future will be more secure and stronger than ever before.





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