- Level: University Degree
- Subject: Business and Administrative studies
- Document length: 2217 words
Marks & Spencer. M&S uses demographic segmentation to select its target markets for its product. It targets its customers by age, income, social class and lifestyle. There are 3 different ranges of M&S for autumn 2001, including The Perfect and Classic Co
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Introduction
Question 1 What market segments do the three different product ranges serve? Assume that the Perfect and Classic ranges serve essentially the same segment. 1.0 Introduction of Marks & Spencer Marks & Spencer (M&S) is one of the UK's leading retailers with over 21 million people visiting their stores per week. M&S offer stylish, high quality, great value clothing and home products, as well as outstanding quality food and financial services. The company was started in 1884, when Michael Marks (a Russian-born Polish refugee) opened a stall at Leeds Kirkgate Market. M&S have 622 UK stores, as well as an expanding international business. 1.1 Introduction Market segmentation is a need to meet today's market realities. Market segmentation is consistent with the marketing concept and enhances a firm's ability to understand its core customers or who its core customers will be in the future (Bearden, W., et al, 2007). Most marketers try to form segments by looking at descriptive characteristics: geographic, demographic and psychographic (Kotler, P., et al., 2006). It helps the marketer identify important consumption patterns. Therefore, customers is treated differently based on firm's knowing what a customer wants and its ability to profitability reach those needs (Wyner, G. ...read more.
Middle
The beautifully and exclusive designed fulfill what the customers wants. However, its qualifier is higher quality. 2.3.3 Per una The order winner of per una range is its speed of design changes which always designs at the very latest trend with distinct style. The product is variety of choices with its design. Its order qualifier is the quality of the product which made with quality material. 2.4 Conclusion Customers are clearly an important influence on the priority of performance objectives within an operation, but they are not the only one (Pycraft, M., 2000). Sometimes, customer service gives a company competitive advantage. It can be one of the order winners to win the business. With providing high quality product and value at reasonable price, if M&S wants to achieve successful in the retailing market, it also need to offer a good service that exceed customer's expectation. Question 3 What are the different operations performance objectives for the different product groups? 3.1 Table Perfect and Classic ranges Autograph range Per una range Product range - Wider range with 60 lines for women and men, include plain, white shirts, black roll-neck sweaters and jeans - Accessories, coats & jackets, dresses, jean, knitwear, shoes, skirts, suits, swimwear & beachwear, tops, trousers & shorts - cardigans, dresses, jeans, macs and coats. ...read more.
Conclusion
It is the long term objective to compete in. Several varieties of products can be made quickly through coming out with the different design within a short period, like per una range. 3.2.5 Speed Speed is in terms of fast response to customers' request, is something else that is important (Slack, N.). In per una range, customers just should not be kept waiting the speed of the fashion trends. Per una range always follow the fashion trends and do not disappoint its customers. This range competes with rapid introduction of new fashion products for the customers. 3.3 Conclusion In any kind of organization, it is a responsibility of the operations function to understand the objectives of its customer and set its objectives accordingly. However, operation management also needs to focus more on what other competitors are doing to their product which offer equal quality and cost product. Therefore, the operation can try to extend its product range. Its priority might shift from speed towards developing the flexibility to offer a sufficiently wide range of products to come out with more brands to fight with its competitors. Furthermore, improve communication with supply chain is a need to reduce the operating cost. In addition, M&S have to make sure that their operating expenses do not affect their profit margin. ...read more.
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