High Street Homilies - Essay Example

The fact is, however, that the company is trying to reach beyond that particular market as evidenced in the fact that it has hired new designers and has developed new fashion lines which target the younger generation of male and female adult fashion consumers (Marks and Spencer, 2007).

Within the context of the above stated, Marks and Spencer's primary competitors are Next, Topshop and Gap. These three command the lion's share of the fashion-conscious, working adult clothing market for two reasons. They provide quality clothing at reasonable prices and are perceived as trendy and fashionable (Marks and Spencer, 2007). Marks and Spencer may be recognized for the first but definitely not for the second. The implication here is that it stands in a weak position vis--vis its primary competitors, largely because of market perceptions.

As indicated above, Marks and Spencer faces two types of competitors. The first type, related to the older generation fashion market, is comprised of Evans and BHS. The second, related to the younger generation of working adults and college students, consists of Next, Topshop, and Gap. Competitive PositionAs John Kay (2001) argues, Marks and Spencer, confronted a severe decline in its market position once it sought to expand beyond its market and, in so doing, forgo its competitive advantage.

The department store's competitive advantage lay in the fact that provided the market with reasonably priced, high quality, practical clothing, rather than high priced fashion apparel. Seeking to expand its market base, however, the company sought to venture into the high fashion market and reach out to the younger generation of consumers. Upon doing so, it experienced tumbling profits, and its traditionally solid market position becomes somewhat shaky (Kay, 2001). The company's competitive advantage must be assessed from this perspective.

An objective analysis of Marks and Spencer's competitive position in the UK's male and female fashion market lends to two conclusions. Within the context of the older generation market, Marks and Spencer have the lead over its primary competitors, Evans and BHS. Within the confines of this market, Marks and Spencer is not challenged by new entrants, has price leadership, and enjoys credibility. Importantly, also, it is accessible across the country and its department stores are located in strategic positions and shopping centers.

As such and as pertains to this market, it enjoys a very strong competitive position. The above stated is not applicable to the younger generation, male and female adult market which the company is determinedly trying to penetrate. As earlier stated, market perceptions tend towards the negative. The younger generation or the more fashion-conscious adult perceives Marks and Spencer as a new entrant into this particular segment of the fashion market and, importantly, it has not established itself as a strong competitor.

Price-wise, it does not have leadership over Gap, Topshop, or Monsoon and fashion-wise it is perceived as outdated. In other words, its competitive position is somewhat weak. Proceeding from the above stated, the classification of Marks and Spencer's competitive position varies according to the particular market segment which is being discussed. Its strong position in relation to the older, less fashion-conscious adult market is hardly maintained in relation to the more fashion-conscious younger adult market.