• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

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

Extracts from this document...

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.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our University Degree Marketing section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related University Degree Marketing essays

  1. Why were Marks & Spencer (M&S) so successful?

    The combination of these two factors helped to improve the M&S image greatly, and thus increase brand differentiation and company identity. Differentiation did not, however, come without costs.

  2. Greggs plc intend to expand their operations into international markets in order to satisfy ...

    This decision is crucial because it can have an ongoing impact on a firm's international business performance26." Root (1994) suggests three different rules 'Na�ve rules', 'Pragmatic rules' and 'Strategy rules'. However as a result of the increasingly heterogeneous nature of the international market, it is important that Greggs do not

  1. Marks & Spencer Essay

    was Marks and Spencer. Marks and Spencer was very interesting, as they have suffered for period but they were more of a threat if they get their act together and get things right in children's clothing they could make a huge difference - much bigger than any foreign retailers entering the marketplace.

  2. Profitability in most companies will be more an indicator of macroeconomic conditions and market ...

    In all major European apparel manufacturing countries employment in clothing has reduced at least 30%. Only Spain and Portugal have remained at the same levels, while in the U.K. employment in clothing is only a fraction of what it used to be.

  1. Analyse and evaluate the industry environment in which Marks and Spencer operates

    Widely disseminated research on key customer findings e.g on segmentation Responsive to customer complaints and suggestions Conduct comparative surveys of competitive price and service offerings Knowledge of why customers choose the organisation (loyalty card research )

  2. Chapter Notes on Marketing Management by Philip Kotler 10th Edition

    But what philosophy should guide a company's marketing efforts? What relative weights should be given to the interests of the organization, the customers and the society? Very often these interest conflict. Clearly, marketing activities should be carried under a well-thought out philosophy of efficient, effective, and socially responsible marketing.

  1. Kraft Tiger Market Analysis - how Kraft Tiger uses market segmentation in Singapore.

    1.3 Current Distribution Kraft Tiger is widely distributed across various supermarkets and minimarkets alike in Singapore; it could be found in various general supermarkets such as NTUC FairPrice, Cold Storage or Carrefour. NTUC FairPrice is Singapore's largest retailer, with a network of more than 230 outlets across the country (NTUC FairPrice, 2011).

  2. Marketing assignment case study on Russia and demographic and lifestyle changes.

    Banks actively supported this behavior, making 25-50% yearly for the consumer credits. So people bought much more than they really can and had yet no moral protection against this. The world economic crisis did not cause great recession in Russian economy itself, but cancelled a major percent of the western

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work