HISTORY OF MARKS AND SPENCER AND PESTEL ANALYSIS - MANISHA CHAUHAN.docx - HISTORY OF MARKS AND SPENCER AND PESTLE ANALYSIS COMPANY OVERVIEW Being one of

HISTORY OF MARKS AND SPENCER AND PESTEL ANALYSIS - MANISHA CHAUHAN.docx

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HISTORY OF MARKS AND SPENCER AND PESTLE ANALYSIS COMPANY OVERVIEW Being one of the leading retailers with nearly 1038 stores located in the UK and 481 stores across the world, marks and spencer started way back in 1884 as a stall in an open market in Leeds, Yorkshire. It began as household goods, haberdashery, toy and sheet music business which later on transformed from stalls to indoor shops in 1894. Michael marks – a Jewish refugee from Poland along with his business partner Michael marks started selling clothes, gifts and food under the company’s St. Michael brand name all over the UK, Europe and America which become very well known for their excellent value and quality holding over 33% market share in the UK. During the financial crisis in 2008, the company maintained its momentum very strongly through premium pricing and investments in advertisements and being caught up with the latest fashion trends to compete with high street clothing stores. The company has also built a strong brand positioning through social, environmental and ethical commitments focused on waste reduction and community care. Marks and spencer being such a renowned company operating in various sectors of food, clothing and home have to deal with a heavily competitive environment, which in return have many multiple factors affecting the running of the organisation. Competitors such as Burton and Next provide far better fashionable clothes to its customer in a better value compared to marks and spencer, as well food chains Tesco and Sainsbury Have expanded and moved into the frozen and readymade foods. Even after having so many competitors and challenges, Marks and Spencer didn’t evolve enough to compete with their competitors, resulting in loss of profits and market share even after holding the larger market share.

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