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“M&S is one of the UK's leading retailers, with over 1,382 stores worldwide. We are committed to delivering sustainable value for our stakeholders and making every moment special through the high quality, own brand food, clothing and home products we offer in our stores and online, both in the UK and internationally.”
By Ross Sinclair, Danni Murray, Chloe Mannarn, Jenny Cunnigham and Taylor Lafferty
Founded in 1884 by Sir Michael Marks and Thomas Spencer
Recently taken charge by Steve Rowe
1380 Stores Worldwide
International Segment – Republic of Ireland, Asia and Europe
Marks & Spencer’s divisions
M&S Current Market Segments
Benefits and Costs
Specific and shows a clear image of the targeted consumer
Costly in both time and funds to research 4 different demographics for nine lines of clothing (£33.7M)
9 Stores closed due to poor choice in location
M&S New Segmentation Strategy
We feel the best way to segment M&S market is by Lifestyle
Simpler & less confusing
Allows for a more varied customer range
Cuts research costs
More efficient in detecting trends
Weekly evaluation will be more effective
Political – brexit and the impact of it.
Environmental – fair trade cotton from India and Pakistan. Weather conditions also affected sales.
Social – socially out-dated
Technological – easy access and up to date website has increased sales by 23.4%
Economic – drop in the pound
Legislation – minimum wage rise
Political - 5% to 8% drop for clothing sales
Environmental – didn’t cater weather conditions, less demand for summer clothes. Plan A.
Social – not keeping up with trends and not updating product lines therefore wasting finance. Unsuccessful promotions.
Technological – transferred from newspapers to websites.
Economic – drop in the pound increases the price of clothes
Legislation – minimum wage rise (£7.20)
M&S won’t be able to meet goals and expectations due to increases in expenses.
Not producing sustainable value if they are only producing seasonal wear which doesn’t fit the weather.
The raise in pound means higher prices so will cause a drop in sales due to the product being price elastic.
Sharper merchandise, little change from mid 2000’s, experimentation required.
Expand on their beauty range, in comparison to their competitors.
Consistency across their stores.
Strategy – Clothing Division
Per Una #
North Coast #
Marks & Spencer #
Classic Collection #
All of these collections appeal to the same market which is the millennials
These collections currently are segmented by income, age and gender
Grouping these together and focusing on the product lines and centralise marketing to promote a grouped collection of fluctuating prices but the same style allows for a more varied market reach therefore cutting marketing cost – cue ross for accounts
Marks & Spencer
All brand produce the same products at different price points targeted at the same group of people currently. They all function as separate lines, if we were to use just there age as a segement here all lines could be grouped and again save costs and also give more of a variety. This will also enhance the focus on the ‘Mrs M&S’ this is the demographic new boss Steve Bowe is hoping to focus on and retain as they are brand loyal.
Segment – Lifestyle option ( talk to group)