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Consumer Behaviour in the Uk High Street Clothing Sector

In: Business and Management

Submitted By Feryial
Words 5518
Pages 23
Assignment Title: Consumer Behaviour in the UK high street clothing sector

Marks & Spencer: Yesterday, Today and Tomorrow
Marks and Spencer was founded in 1884 and supplied the UK with British made, high quality products at affordable prices (Corporate.Marks and Spencer, 2011). The production-oriented strategy lead M&S to gain immense market share and strong brand loyalty however, this could only take them so far. In a market place where retailers were moving to a more consumer-oriented strategy, M&S struggled. Unable to provide fashion conscious clothing that the younger consumers desired, it lost significant market share and became known only for its good underwear and clothing targeted at older conservative women (Flynn, 1998).
Today the company is trying to vigorously recapture their market by being more consumer-oriented and aware of their competition. They are taking measures to understand and listen to what their customers want and also to realize that the customer has evolved from when they started out in the industry. They have put in place several new strategies to appeal to the new consumer. From campaigns with noted celebrities, to striving to be the world’s first GREEN retailer, supplying fair trade products and being the conscious Corporate Social Responsible Company (Corporate.Marks and Spencer, 2011). M&S was recently ranked 5th in the top 10 UK retailers for 2010-2011 (Retail week, 2011) and acknowledged as a “top family brand” for 2011 by ad agency Isobel and Yougov (Baker & Costa, 2011).
This is an exciting time for the M&S marketing team as they strive to appeal to new segments while ensuring that they do not alienate their current base of loyal customers. As this report will show, the current core M&S consumers are affluent, loyal to the M&S brand and drive a significant amount of profitability for the…...

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