Executive Summary
This insure will be looking at the history of attach and Spencer, exploring how the brand has been managed overtime. There is a brief literature recapitulation of the sub-subject of branding; managing a brand overtime. Followed by a password about what tag and Spencer could do from what has been learnt in the literature review.
The Brand
Marks and Spencer have been in the UK market for over 125 years. They hold on to be successful and iconic in the UKs incision store market. In 1884, Marks and Spencer was born, the founders Michael Marks and Tom Spencer create the company around five key principles; woodland, Value, Service, Innovation and Trust, solely of which are still at the heart of the brand today. They utilize slogans such as Admission Free to encourage clients to range their products without obligation to buy, known today as Window shop, however, at the time this was unheard of, showing their drive for innovation. Marks and Spencer used penny pricing to price all their products, a highly successful strategy until the First World War, where goods became big-ticket(prenominal) and hard to source, Marks and Spencer were forced to change their pricing strategy, because becoming the Marks and Spencer we know today.
Marks and Spencer became the first retailer to have a research lab used to pre-test the musical note of products and to develop new fabrics. This highlights two of their five key principles, Quality and Innovation.
During the Second World War rationing affected approximately everything tangible, however restaurants were not affected by rationing, due to this much people began eating out, with this in mind Marks and Spencer created Café bar in 82 of their stores. This shows their service to customers, and appealing to the ever-changing customer needs. Rationing also showed people that fashion wasnt retributive for the rich; it was accessible to everyone, because of this Marks and Spencer placed...If you want to get a full essay, order it on our website: Orderessay
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