Economic and Business Context Essay Example | Topics and Well Written Essays - 2000 words

Economic and Business Context - Essay Example in 1894 in Manchester, after wards Marks entered in to partnership with Thomas Spencer, and they established a company known as Marks & Spencer (M & S). In the initial time the company only concentrates in the area of selling of goods they are purchased the goods from wholesalers and other intermediteries after they established a good market base in UK they entered another area of business. Marks & Spencer became a limited company after adopting revolutionary policy of buying directly from manufacturers. In 1926 they stepped in textile industry. It is mainly concentrating on the selling of British produced goods for the purposes of maintaining cordial relation with British manufacturers by maintaining a new brand named ‘St Michael’ mainly they market clothing and Food products. The key factor behind their success is the motto of providing better customer service relation, by accepting unwanted goods from their customer and refunding the cash. The company tries to provide only quality goods by maintaining their reputation for offering fair value for money. In 1988 the company acquired Brooks Brothers an American clothing company and Kings Supermarket a food chain. Currently the company expands and diverse their business activities in the area of Food retail stores and Home ware retailing also. They are mainly marketing the clothing products through their retail outlets. â€Å"Marks & Spencer, leading international departmental, has drawn up ambitious expansion plans in India and China starting as early as next year, its chief executive Stuart Rose has said.† (Marks & Spencer plans to expand in India, china, 2007). The company also launched a web site for the purpose of online marketing system associated with Amazon.com. Marks & Spencer’s better customer service and quality products will helps them to improve their business in the area of online marketing also. â€Å"For years customer service has been a fundamental part of consumers offline shopping