Marks and Spencer Enters China Case SolutionÂ
The last option that the management could use is to pay more attentions on its core operations and create an environmentally sustainable business which could help the company in order to increase its profit margin by reducing cost. It is expected that in this era of technology, having greater number of established competitors creates serious challenges for brands as well and in this more competitive environment, it is difficult for the firms to create an environmentally sustainable venture.
Entry in China
It is expected that as compared to the other options, the most suitable option is to enter into China risk portfolio of the company by increasing number of products along with the global number of stores, which will definitely strengthen Marks and Spencer in all aspects.
Analyzing 4 Pâ€™s while entering into China
It is expected that Marks and Spencer is famous for providing more quality products in terms of creating value in the eyes of customers and satisfying the needs of customers. As Chinese and Asian market is different from the US and UK market, therefore the management of the company should provide such cloth and food products, which could satisfy the needs of Chinese consumers and should be according to their cultural values as cultural values are more dominant in China, Asia and Middle East. In addition to this, the company should provide more innovative products as many established and global players are also operating in these markets.
It is expected that Marks and Spencer is also famous for providing more affordable products with better quality as compared to its competitors. As the target of the company is the middle class and income level in China and Asia, which is low therefore, the management of the company should pursue low price strategy especially for food and home products which are more expensive as compared to the local players.
As Marks and Spencer is an established brand with strong financial position, therefore the company has the ability to open its out lets in large cities such as Beijing and Shanghai of China, Delhi and Bombay of India and in Dubai, Sharjah etc.Therefore, the company should open its stores in the large and famous malls of these cities which will really help to target the greater consumer segment such as youth and ladies.
It is expected that creating awareness is a necessary element in order to attract the greater number of customers, thereof the company should employ different marketing strategies such as arranging seminars, taking part in social activities effectively could be a greater source of revenue.Â However, the company should hire famous models of respective regions in order to promote the brand and should publish fashion articles in famous fashion magazines of respective regions……………..
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