Pre work Essay Example
Marks & Spencer: The Phoenix Rises
This is a case study about the rise and fall and rise of Marks & Spencer. Having been a leader for some time, Marks & Spencer started experiencing some marketing problems that eventually almost brought the company to its knees. This paper therefore looks at the marketing problems that were experienced by the company and the probable solutions to these problems.
The first problem was that Marks & Spencer was greatly committed to the British manufacturers who were typically more expensive compared to the same products or even of higher quality being imported from other countries. The company’s competitors took advantage of this to obtain products from cheaper suppliers hence extending the same benefits to their clients.
The other problem was that the company literally suffered from overstocking. This means that the company could stock heavily and this only meant the need for an equal measure of discounting.
Considering the very first marketing problem, it would be advisable that Marks & Spencer considers weighing the options available in terms of product manufacturers. In this case, the company could try obtaining them from outside the United Kingdom where the prices are slightly lower compared to the United Kingdom. This would go a long way in transferring the costs to their customers too.
The last problem could be remedied by carrying out a comprehensive projection analyses that would in turn help in ensuring that only the required commodities are stocked within a given period of time.
In conclusion therefore, it should be understood that marketing is ideally what any business pegs its existence. In this case, Marks & Spencer somewhat ignored this and this almost cost the company heavily were it not for the recovery plans that they resorted to.
More Important Things