Here it can be seen the notes that I made that seemed to lead to M&S's decline in market domination. It is under this heading as these are the main points that I learnt about the company that were not known by me before
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Seminar Date: 13/10/05 Seminar Title: Fundamentals of marketing 'Virgin Video' Preparation notes: For this seminar no preparation was required. Seminar Activity & Discussion This seminar was watching a video regarding the fall of Marks and Spencer's. Below are the notes from the seminar. Throughout the movie it was asked to note some of the main reasons that may have brought about their decline in the market. What are the main points learned: Here it can be seen the notes that I made that seemed to lead to M&S's decline in market domination.
M+S are having brilliant success so they branch into the financial sector. Next range of clothing talked about classic products, wearable fashion but not cutting edge. Head of fashion for M+S did not think this was a good idea but Richard Greenbury was not one to cross, it was his way or, well his way. It seemed that M+S were doing the right thing at the time but not considering the future, like the high competitive rate to enter the clothing retail market.
High profits came year in and year out in 1998. 71% in November 98 62% in March 98 The company was trying to be too efficient by bulk buying the clothing range, which was not a smart move when selling clothing, as this is an ever changing market where consumer tastes are easily swayed by celebrities and other endorsements. In the year of 1999 Richard Greenbury resigns as CEO of M+S. The company now accepts the use of major credit cards and uses a paradox for their slogan "Exclusively for everyone" ?? ?? ?? ?? MKT2001 Stuart C Philbin 20136716
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