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Essay / Research Paper Abstract
Marks and Spencer have made many mistakes when it comes to marketing. This 9 page paper considers the lessons a similar company can learn from the position of Marks ands Spencer’s in the 1990’s and how they firstly failed to notice the disappearance of their target market and then managed to alienate the very market they were trying to attract. Using this, the paper considers how a healthier approach to marketing may be adopted. The bibliography cites 15 sources.
Page Count:
9 pages (~225 words per page)
File: TS14_TEmktmarks.rtf
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Unformatted sample text from the term paper:
drivers within that market in order remain appealing to the target market (Kotler, 2003, Hooley, 2000, Thompson, 1998). In looking at stores such as Marks and Spencer there are valuable
lessons which can be ;learnt. By looking at the reasons for the failure of Marks and Spencer during the 1990s and the subsequent partial recovery other stores may not make
the same mistakes. This is, in many ways, the ideal case for considering for the importance of target market recognition and adapting to meet the needs of the market.
Marks and Spencer can be cited as the good example of marketing by differentiation, for many years they had a superior reputation, one which was supported without the need for
advertising, and was able to command a premium price due to the way that brand was valued. It was against this background that the management became belligerent and did not
realise the lessons taught by many marketing gurus, the value of understanding the target market. Marks and Spencer saw their sales fall
and started to react, but the initial reactions had the wrong focus. . A restructuring was aimed creating an organisation that was less bureaucratic and flatter, it is interesting that
the first attempt at this, in 1999 was not a success. At the time the company stated; The decision to create the customer business units follows extensive research into the
needs and shopping habits of the M&S customer, together with a detailed review of buying practices, The business units will be fully profit accountable." (Marks and Spencers Company Statement
quoted in Fallon 1999). The company was split into seven divisions, each of these divisions has a flat management structure with a
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