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Why were Marks & Spencer (M&S) so successful?
Member rating: No Rating | Words: | Submitted: Mon Jun 19 2006
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The basis of obtaining competitive advantage is to derive a competitive strategy that provides the customers with what they need or want in a more effective way than the competitors. M&S entered the market in the late 1880s with a 'no frills' strategy (Johnson G & Scholes K. 2002. pp320-323). The penny bazaars were a huge success, because they focused on a price-sensitive segment of the market. The Victorian era was one of great divide between the rich and the poor. The original M&S customers could not necessarily afford to buy better quality goods and the company based its business on high volume, low profit turnover. By having a strategy that matched the demand, Michael Marks was able to gain the competitive advantage over his rivals. Had the company kept the same strategy, it is possible that it would not survived. Luckily, Simon Marks anticipated the change in demand and therefore launched...
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