Introduction situation due to the political changes that took
Introduction My assignment is going to be on Marks and Spencer. Throughout this, I will focus on assessing, critically evaluating and justifying to reach the fullest potential of evaluation. This assignment discusses many topics such as market structure and the business environment in great detail.I will investigate the strengths, weaknesses, opportunities, and threats of M&S. Marks and Spencer is a public limited company. It was founded in 1894. They manage multiple segments like clothing, food, home decor and other products, they have many competitors. They have to keep up with ever-growing and changing trends of clothing if they have to compete in the market. PESTLE on M&SPoliticalPolitical conclusions and conditions are very important for Marks and Spencers. A situation such as the war in Iraq was one of the biggest cause of slowing down the economy in the UK. Marks and spencers faced very critical situation due to the political changes that took place. Change in government brought new business policies which play their part in the growth of the business. The public spending cut is another political decision that is a big hurdle in the business growth too.EconomicM&S competitors are generalized in(small) markets and their consumers’ focus which make them provide a much better consumers satisfaction. Their import their products from abroad to save money, doing this M gets put at a cost disadvantage.The economic circumstances in the country are the factor that influences M. The government has increased the VAT from 17.5% to 20% and that was the cause of the downfall in sale in M. SocialThe customer leans towards a specific product. In every transaction made the quality of the product impacts a lot, but it could easily be beaten by putting a lower price on the same product yet from another brand. Analysis about British customers is that they prefer fashionable style over classic trends, which can be seen in M.