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Write 7 page essay on the topic Secondary data exercise.Download file to see previous pages... In recent corporate history, if there is one company which had demonstrated exemplary leadership and admi
Write 7 page essay on the topic Secondary data exercise.
Download file to see previous pages...In recent corporate history, if there is one company which had demonstrated exemplary leadership and admirable resilience, to pull back itself from an imminent collapse, it could be none other than Marks &. Spencer, the Retail Stores legend of the UK. The main plank on which it staked its entire hope was its compelling and convincing advertisement strategy. When the decline was confirmed and could not be ignored any more, the company under the guidance of Sir Stuart Rose as its new chairman decided to take the bull by the horn. How it girdled up its loin and strained every nerve to successfully tide over crisis after crisis, is an interesting corporate story.
2. Analysis for the causes, and drafting the remedial measures: An objective analysis brought out the following serious anomalies staring at the face of M&.S, (the later shorter logo version of Marks &.Spencer): sales were steadily dwindling (the worst was during 2004-2006), customers were slowly moving away since their preferences and what M&.S offered didn't match very often, customer service offered by M&.S was below par and competitor pressure was mounting. Now the company had very little option. They had to undertake damage-control measures quickly to restore the sagging confidence of even their most loyal customers. Strategic planning and supportive ad campaign came to their rescue, and once they stabilised their standing, then there was no looking back at all. They concentrated more on Communication Strategy to woo the customers back to their showrooms. The advertisement campaigns occupied the prime spot in the marketing communication activities.
3. What is advertising and its significance: What it can do and what it cannot do : Advertising is the core element of any marketing communication which aims to connect the business with its customers. "Advertising can be defined as any paid form of non-personal presentation and communication through mass media. The main aim of advertising is to sell to a wide mix of consumers and also to induce repeat purchases". Again " the main objectives of advertising are creating awareness about a product or store, create a desire to want a product, to communicate the store's policy on various issues, to help in repositioning of the store in the mind of the consumer and to increase the sales of specific categories or to generate short term cash flow by way of a sale, bargain offers or clearance sales. Advertisement can also help in reinforcing the retailer's corporate identity."1 (Swapna Pradhan, 2007) This aspect of recreating the retailer's corporate identity and repositioning the store in the minds of the consumers weighed heavily with M&.S management who decided to launch a dynamic drive into the consumers private preferences in an effective manner. But they were also aware of the limitations of a mere advertisement campaign alone . Primarily communication is used to inform the customers about the retailer, the merchandise and the services. Beyond that it could achieve pretty little of any worth. "It is believed that every brand contact delivers an impression that can strengthen or weaken the consumer's view of the company."2 ( Philip Kotler).
