KPI Presentation
Transcript: -Concession stores inside 'Concessions can also help make use of what is otherwise dead space in larger outlets' (Planetretail.com, 2015) Potentially a partnership with boots. -M&S Opticians, highest majority of the population with glasses are over 40, these consumers are also are again a large portion of M&S's segmentation target, therefore having an opticians would be beneficial to M&S, with the brand loyalty consumers have for M&S this could lead to people getting their eye prescriptions from M&S instead of their usual opticians. Also as mentioned in technology sector, consumers want convenience this would create an ease of travel for M&S consumers. -Gift ideas that grandparents would buy for their grandchildren or children, therefore grandchildren/children will potentially buy at M&S. -Student insurance, with brand recognition and perception of high quality and reassurance could potenitally enable students to take insurance out with M&S. -Change in pension rules- more disposable income therefore able to buy higher priced items, such as TV's or tablets, increasing the number of electrical items. Social Image by Tom Mooring 'In 2015, we expect food spending to rise only slightly by +0.4%, because of high competition and falling food prices' (Retailresearch.org, 2015) Socially consumers will seek to find the best offer for their products. Trends also are a social factor, particularly with fashion, consumers buy products based on celebrities, friends, family. This is why brands need to have credibility. - Meaning pensioners have more money disposable income enabling them to purchase higher priced products. - Not only this but introducing technology lessons, to allows for consumers to understand. this will ultimately cost Marks and Spencers, money but it will enable for consumers, to enter the digital age. To set themselves aside from other techology retailers have lesson that not only educate but introduce Marks and Spencer consumers to the products which could potentially leads to further purchases. SWOT 'analysis is the commonest practical analytical tool for strategic planning' (Piercy and Giles, 1989:2) It allows for business to establish their strengths, weaknesses, opportunities and threats, externally within the business. SWOT 'analysis is a simple structured approach to evaluating a company's strategic position' (Piercy and Giles, 1989:2) It allows for business to understand and establish,where the business lacks but also giving the business ways to improve by analysing the opportunities 'analysis provides us with a device to structure the awkward mixture of quantitative and qualitative information... that characterises strategic marketing planning' (Piercy and Giles, 1989:2). PESTLE 'analysis, as it stands, mainly provides a general idea about the macro environmental conditions and situation of a company' (Yüksel, 2012:2). PESTLE outlines the political, economic, social, technological and ethical issues within a business, theses are all external. PESTLE is used for different reasons the 'first is that it allows identification of the environment within which the company operates' (Yüksel, 2012:2) and the second being able provide data for the company that will allow the company to make predictions for the future. Legal Threats Strengths SWOT & PESTLE Model The food sector of Marks and Spencer business makes 55% of Marks and Spencer sales (mintel.com, 2015). This is concerning for Marks and Spencers as there is a 'Decline in food sales and that left like-for-like sales up just 0.2% on February 2014' (Theguardian.com, 2015), this is due to the decrease in disposable income, which not only affected Marks and Spencer, but many other retailers who are in a similar sector. However, according to Mintel, Marks and Spencer had an increase in food revenue of 4.2%. This could be due to the quality of the food Marks and Spencer have to offer. There is set to be a 'GDP growth of 2.4% and retail sales growth of 2.0%' (Retailresearch.org, 2015) Thus would potentially help Marks and Spencer as it will lead to a greater economy, and therefore it will potentially enable for consumers to have a more disposable income. With the change in pension rules recently enforced, according to www.gov.co.uk, pensioners, who make up a large portion or Marks and Spencer segment group, now are able to withdraw their pension at 55 without a charge. Thus meaning pensioners are able to access their pension in a lump sum, therefore potentially again have more disposable income. Economic Political Opportunities continued... Marks and Spencer as a business has many qualities that would potentially be considered as strengths which benefit the business. One that is most predominant to the consumer is their quality of products, many consumers shop at Marks and Spencer on the basis they know the products their buying will be of the highest standard and that they what they buy is worth their money. Another strength that Marks and Spencer
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