Introduction
To look into the main events and trends from the marketing environment, which are likely to impact the market over the next few years I am going to do various analysis. I am going to research the macro and microenvironments. A STEP analysis will be conducted to look at the macro environment, which includes social-cultural, technological, economical and political factors. For the microenvironment factors competitors, suppliers, customers and stakeholders will be looked at. A SWOT analysis will then be carried out. Strengths and Weaknesses will look at the internal issues and the Opportunities and Threats will look at the external issues. Then I will be looking at the strategic options available for the business.
I have chosen to look at the food department of Marks and Spencer, more commonly known as M&S Food. According to wikipedia, M&S has over 400 stores in the UK and 192 stores managed internationally (www.wikipedia.org). M&S was established in the late 1800s but the food department was non-existent until 1931. M&S focus on selling mainly food and clothing but they are always growing. The most recent addition to their stores is the technology department. In 2001 M&S started opening Simply Food stores (www.marksandspencer.com)
Macro Environment
According to an online article there is a rise in dual incomes. (Jane Musoke-Nteyafas, 2006) This means that couples will have more disposable income to spend on luxury items such as M&S food. A Mintel Report shows that people think that if you pay a lower price you get a lower quality (Mintel, March 2006). M&S prices are higher than most supermarkets such as Tesco and Asda therefore classified as a luxury product.
Peoples lifestyles are getting busier, but some people love being busy (Mintel, September 2006). This is why M&S have created many different types of stores to fit in with their lifestyles. For customers who use M&S for their weekly food shop there are out of town stores, which they provide a car park and it's easy for them to get to. There are also Simply food stores with car parks. For the busier customers there are smaller M&S shops in service stations and train stations, where they can just pick up a lunch or a quick snack. (www.Marksandspencer.com) Technology has allowed M&S to put scan it yourself tills in most stores. This is where it's much quicker for you to scan your own item and pay for it, than to go to a till and get a cashier to do it for you.
M&S are one of the UK's leading retailers of clothes, food, home products and financial services. Some 10 million people shop with us each week in over 375 stores. In addition M&S have 155 stores managed under franchise in 28 territories mostly in Europe, the Middle East, Asia and the Far East, stores in the Republic of Ireland, nine wholly owned stores in Hong Kong and M&S own the US supermarket group, Kings Super Markets. The main objectives of marks and Spencer's are as follows:
McDonalds. What had started as a humble family owned drive-through has become a multi-million dollar industry. Everywhere one goes, there are reminders of how amazingly widespread this company has become, whether it be seeing McDonald’s famous golden arches on a billboard or hearing the catchy “I’m Lovin’ It” tune in a commercial. But more than this, McDonalds has become part of our global identity– our McWorld.
Morrisons was founded over 100 years ago, as a stall in Bradford market. It has been a family business for most of the time since. Under Sir Ken Morrisons 55-year leadership, until he retired in 2008, the company grew steadily from market stall to superstore. With over 450 stores, it is now the fourth largest food retailer i...
Founded in 1986, Pret A Manger is a fast food chain, which produces freshly prepared, natural food with over 250 stores throughout the United Kingdom, France, Hong-Kong and the United States. Unlike most fast-food chains, Pret is a private company; they do not face the same pressure to grow as a public company does. However there are many factors that affect Pret A Manger’s marketplace such as economy, competition, technology, political environment, and the standard of living. This report evaluates major internal and external factors affecting Pret A Manger using various analytical techniques.
The SWOT analysis (abbreviation for Strengths, Weaknesses, Opportunities and Threats) is an essential tool in marketing for understanding and supporting decision-making in all kinds of situations in business and organisations. In brief, it provides an accurate context for studying strategies, positions and directions of a company proposition. It is used mainly for business planning, competitor evaluation, marketing, business and product development and research reports. SWOT analysis is also a widely recognised method for gathering, structuring, presenting and reviewing extensive planning data within a larger business or project planning process. (Chapman, 2014)
We all know Tesco as a food retailer, and we know that they are in constant competition with other retailers such as Sainsburys and Asda, yet we do not know much about what goes on beyond the shelves and the tills, the marketing plans and the day to day tactics that have to be devised to stay the number one food retailer in the United kingdom today.
6 framework I and many others regularly use in analysis of marketing situations. We supplemented
The strategy of WFM, co founder Mackey, is to continue offering healthier options for its customers. The movement into Canada and the UK in the last few years, lays the footprint for additional global expansion. Mackey intends to increase WFM to 1000 stores. The question is whether it will happen through acquisitions or new store locations. The answer based on their history is a combination of both. The store in Canada opened in 2002. Since brand recognition is not as strong, the store struggled somewhat in the beginning; however, the expectation is that it will grow to one billion in the next ten years (Patton, 2013). The stores in UK, which are in the greater London area, have received mixed receptions, and some stores are selling well while other locations are not. However, Mackey is not deterred and believes that longevity will produce the desired results.
Firstly, one of the most important focuses would be given to the target customer as we will need to know more about their taste and preferences. What it is they need and or want. Particular topics covering this area will be, the need for ‘Market segmentation’, identifying a competitive position in the market about to enter in the market and studying consumer behaviour, will all be discussed.
The marketing environment for Baldwin represents astounding opportunities. These opportunities also bring some challenges that the firm believes it can meet successfully. The figure below illustrates a SWOT analysis of the company conducted by our marketing team to highlight Baldwin’s strengths, weaknesses, opportunities, and threats.
This assignment will attempt to determine why Marks & Spencer nearly collapsed and what they have achieved in terms of success and failure as part of their recovery programme.
Firstly, dynamic marketing environment will lead to uncertainty, threats and opportunities for marketers. Marketing managers who success to know changes in environment through situation analysis can lead their companies to capitalize on opportunities and cope with threats created by changes.
Challenges in Today's U.S. Supermarket Industry. 2014. Challenges in Today's U.S. Supermarket Industry. [ONLINE] Available at:http://msdn.microsoft.com/en-us/library/aa479076.aspx. [Accessed 31 March 2014].
The main objective of this report is to develop and provide a sales and marketing plan for which the company will help to generate more profit and acquire more customers to patronize the product. This report will cover the period of 2016 to 2017 which will serve as guidelines that needs to follow of the employees, managers and management team to reach the desired goals and target for the company.
This work will determine the baseline of the current market situation for the company, which is essential for any further exercise and analysis. To understand how the business model correlates with the product marketing, need to see if there is any evident cause-effect relationship between product characteristics and the nature of the product company. If such correlation exists, it will be important to see the transition of such characteristics into the company marketing strategy. It can show how company’s strategies can be successfully addressed in a real-world scenario. Both internal and external analysis, SWOT matrix will help to determine the company’s current market position.