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Marks & Spencer Essay
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Assignment 1 : Marks & Spencer Essay
This assignment will examine how Marks & Spencer's strategies have changed in the past 10 years, from 1998 to 2008. These strategies include management strategy, corporate social responsibility, advertising strategy, competitive strategy, and green strategy. However, the most important strategy must be the recovery plan of these ten years.
Marks & Spencer is the largest clothing retailer in the UK. It is also an international retailer which operates around 760 stores in more than 20 countries around the world. The company provided quality products with affordable prices and they offer a board range of products, such as womenswear, menswear, childrenswear, babywear, and homewares. [Mintel, Retail Review - March, 2008]
In 1998, the company was hit by falling sales and loss of market share. They suffered 23% decrease in profits, and by 2001 Marks and Spencer was no longer even in the Financial Times list of the top 500 global companies. It was even in danger of being taken over by another company. The reasons of decreasing sales include the failure of the changing needs of its core consumers, boring design and styling and fashionable competitors, such as Gap and Zara.
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