Marketing students have seen for many years that Marks and Spencer is a marketing case study that has built its’ entire business on it own brand. Marketing the brand has been taken many years of dedicated effort. It has a range of quality suppliers who manufacture all of its’ ranges. Due to the price pressures M & S hit the headlines when companies in the UK were closed in order for the products to manufactured more cheaply in a range of different countries. This affected consumer confidence and some would say, that in the early stages the quality suffered. This is an example of marketing practice and how it is constantly developing.
The next development was into convenience type stores and offering only food. Simply Food can be found in some high streets but also in railway stations and motorway service stations. Often the simpler the idea the better. This has helped to revitalise the business. It has focused on customer needs. Built specific ranges for the different target customers.
For any business to succeed it must get the marketing basic right. Simply need to decide on the customer, really get under their skin and understand those needs. So, we are driving home and want something easy from Simply Food. No effort when we get home was a master stroke and a clever brand extension. It seems that Waitrose is about to offer a similar stripped down shopping experience.
The latest development is now to offer branded products. This is a total change in brand policy and is a calculated risk. The advantage is that it will extend the M & S brand into new areas and offer customers the opportunity to buy the brands and own labels at the same time. The challenge is to ensure that these brands compliment the current range and not compete.
Marketing lessons and tutorial. Be specific about the brand position and ensure that the brand values are clear and the brand is not over extended