Marks Spencer

  • Category:
    Marketing
  • Document type:
    Assignment
  • Level:
    Undergraduate
  • Page:
    1
  • Words:
    357

Marketing 2

From the lecture, what did you learn about the case or marketing in general? Tie in your initial position and use examples from the discussion to illustrate your learning.

From the lecture, what did you learn about the case or marketing in general? Tie in your initial position and use examples from the discussion to illustrate your learning.

The case of M&S helps us to learn several attributes regarding good management and marketing. The case presents a Company that was at a point of collapsing. There was no hope left for the Company. However, to the shock of many, the Company experienced a turnaround. However, the Company’s path to recovery did not just happen. Rather, the process involved a lot of planning and restructuring. In particular, the Company capitalized on its strengths. Also, the firm relied on its experience in the market (Bower, 2005).

From the case study, we can learn the following aspects. Firstly, it is vital to establish a strong business background. M&S was able to rise again, due to its strong background and experience in the industry. Secondly, businesses should learn to capitalize on their strengths. For example, M&S was able to capitalize on its strength, and this led to its turnaround. Thirdly, firms should understand their markets (Bower, 2005). For example, M&S Company understands the nature of its markets. Some of its markets include food, clothing and financial markets. As such, the firm was able to make an informed decision concerning the markets. For instance, the firm made several changes to its products and services, so as to meet the needs of its customers. This is an indication that the Company understood the needs of its customers. Likewise, businesses should have knowledge regarding the needs of their potential customers.

Finally, M&S also restructured its management, so as to address the management gaps. The management plays an essential role in the success of business. Therefore, businesses must establish management structures that promote the growth of the business. With a good management structure, then, the business is assured of growth.

Bibliography

Bower, J., 2005, “Marks & Spencer: The Phoenix Rise,” Harvard Business School