It is a crucial factor to ensure the customer satisfaction by providing best

It is a crucial factor to ensure the customer

This preview shows page 7 - 9 out of 13 pages.

It is a crucial factor to ensure the customer satisfaction by providing best quality products to them. M&S has managed to offer best quality goods to their trusted customers this will be a beneficiary aspect for the company, as its product quality can beat other competitors of the same industry. The wearable designs and practical functionality of the products make the brand stand out in the crowd. In order to sustain in the competitive market of UK, M&S has been focusing on their quality manufacturing of the products, as best quality products are the key customer driver in the market (Astuti, Silalahi and Wijaya, 2015). They have to make higher quality products to compete with others. Fundamentally the products determine the ability of the brand to survive in the industry. II. Price Page | 7
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The strategy to determine the brand pricing is a complex and often becomes a very misleading aspect for the brand. The price point of the products will primarily make or break any brand’s worth in the market. People are mostly attracted to good quality product with an affordable price range of it. M&S is considered to be a comparatively expensive brand than its competitors in the UK market specifically. They have been selling costlier items as it covers up the entire manufacturing expanse of the products. For enhancing the product features and functionality it spends a lot on the production, which automatically increases the product price ( Kozlenkova et al ., 2015). In order to maintain their position in the market of UK, M&S should cut down its cost levels to be able to compete with other brands in the market ( Mitchell et al ., 2015). High price point will definitely impact negatively on the customer satisfaction, and therefore the brand will lose its acceptability in the market. Cutting the production cost, using inexpensive modes of promotion etc can minimize the market price a little bit. These techniques should be implemented affectively to demolish the existing risk factors of the company. III. Place In order to establish a strong foundation of any company, there are several aspects involved, which must be maintained thoroughly. In order to increase the visibility of the products, the proper exhibition of the products should be one of the key focuses of the brand. An easier accessibility increases the selling of the product (Kamboj, Goyal and Rahman, 2015). M&S has been selling their products through their multi chained retailing system and wholesalers. But to reach a larger section of customers they will have to mark their presence on different platforms. The placement of the brand determines the overall performance of the brand. Though M&S makes a great profit through its outlets and other modes of selling, bur to increase its profitability and productivity the brand should also experiment with other ways of selling as well. Today there are various platforms available to sell products, like social networking sites, mobile applications and many more (Pavliková and Čihovská, 2017). These can be helpful ways to enhance the business for M&S.
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