marks and spencer competitors analysis

As Britain's favourite retailer loses relevance to today's shoppers, Retail Week asks: can M&S be saved? Martha is a retail business founded by a Jewish immigrant in United Kingdom 1884. The reactions of managers to such type of data rely on the expectations or the formal budget or planned targets. Marks and Spencer SWOT Analysis Strengths. There are 1,059 Marks & Spencer retail stores in the United Kingdom as of January 10, 2023. Retail Week. Dentons. / The business strategy of marks and spencer. A dedicated digital lab team of 150 in-house software engineers is working to make sure the company stays at the forefront of technological developments (Marks & Spencer, 2016). Customer firstly thinks a lot of commodities with high-quality and low price, which is Marks & Spencer sought-after standard. II. Retrieved July 2016, from The Telegraph: http://www.telegraph.co.uk/technology/internetsecurity/11959667/MandS-website-temporarily-suspended-after-leaking-customers-details.html, Davey, J. Retrieved July 2016, from RetailWeek: http://www.retail-week.com/comment/comment-retailers-mustheed-marks-and-spencers-international-strength/5041479.article, Ruddick, G. (2013, October 24). This resulted in customers cancelling delayed orders (Butler, 2015). Most notably one is a billboard in his stall: Do not ask the price, a penny can be. This simple and eye-catching slogan quickly spread among the people in the middle and lower classes. The company has traditionally invested in TV and magazine advertising as well as in-store visual merchandising. Porters model was designed and developed by Michael Porter in the 1980s to determine the competitive intensity and attractiveness of an industry (Spencer, 2015). London: Routledge. This initiative has been largely praised and with its operating performance strong in 2015 (Marks & Spencer, 2016), is considered a threat to High Street banks (Jones, 2014). Recently it has utilised its customer loyalty data to organise targeted marketing and promotional activities and focus on high-impact promotions, which result in better value for customers and increased sales (Spencer, 2015). M&S has sold almost all own-brand goods. Following the UKs decision to exit the EU, the company, as will other UK retailers, is likely to face legal issues. Marks & Spencer and suppliers have far more than a general partnership, but rather become a complicit relationship to work. However, in the fiercely competitive market environment, operational management strategies are quite important for retailers to obtain a competitive advantage and access to greater income. Original reporting and incisive analysis, direct from the Guardian every morning. Key Highlights Marks and Spencer Group plc (M&S or 'the company') retailer of general merchandise and . Porter believes that the intensity of competition in any industry is generally affected by five kinds of factors. 1999 opened on-line shopping service, but also a cadre of loyal customers, people satisfaction with Marks and Spencer increasing. Thus, Porter makes an extension of his research into the national competitiveness. (M$) MARKS AND . Marks And Spencer Competitive Analysis. Al-Shabaab calls for attacks on Oxford Street and Westfield centres in new terror threat. A value chain analysis is a strategic tool use to identify the activities in and close to an organisation which lead to the creation of a product or a service. Geopolitical unrest also affected the companys overseas operations (Marks & Spencer, 2016). Strong competition from other retail brands means limited market share, 2. Marks & Spencer is one of the UKs leading retailers with over 21 million people visiting their stores each week. The companys food and clothing and homewear stores are often located in locations that are attractive as targets for terrorists due to the large footfall and whilst there has been an increase in safety measures, the latter can also alienate customers if, for example, screening or security measures are implemented (Whitehead & Foster, 2015). In addition, Porters Five Forces Analysis discusses the industrys competitiveness and the firms competitive positioning in the marketplace. With sustainability becoming an increasingly necessary and lucrative strategy, the company is ahead of its competitors in this area. 1884, 21-year-old Michael Marcos in Kekegaite open-air market of United Kingdom Leeds City had opened a unique small stalls, which is the embryonic form of Marks and Spencer. Since starting in 1884 the brand has been the epitome of quality, style and increased investments in product innovation (Marks & Spencer, 2016). Oxford: Oxford University Press. Marks & Spencer. Unstable political and economic conditions in several international franchise markets in which the company operates such as the Middle East, Russia and Ukraine pose a threat to both franchise receivables and on the companys development in these areas (Marks & Spencer, 2015). SWOT Analysis is a proven management framework which enables a brand like Marks & Spencer to benchmark its business & performance as compared to the competitors. In 2015 a third of the companys products had been sourced from Gold and Silver sustainability standard producers, while another initiative called Shwopping has resulted in 10.6 million garments (equating to 7.3 million) being donated to Oxfam (Marks & Spencer, 2015). Beginning in the 1990s and more recently as a result of the recession in 2009, the company has faced both a decrease in sales as well as increasing competition from online retailers, discounters, fast fashion brands and others in both its clothing and food businesses. It is one of the most powerful retail brand with a top of the mind recall. 2) The general strategy theory: Porter believes that the struggle with the five forces of competition, each company should only have two basic types of competitive advantage, namely, low-cost and product differentiation, which both with a special scope of business combination can be drawn from three types of successful strategic thinking, these three ideas is the overall cost leadership strategy, differentiation strategy and centralized business strategy. M&S operates in a market in which innovation is paramount to keeping ones brand consistent and in line with the requirements of an ever-changing customer base (PWC, 2015). Marks and Spencer Group PLC does not currently have any hardcopy reports on AnnualReports.com. M&S then bungled setting up its own site, with an expensive high-tech warehouse that didnt work properly and a boring, clunky website. Almost no food online M&S will begin selling its main food ranges online on 1 September, after missing out on the market for years. One of the UK's leading retailers with around 21+ million customers each week. product, price, place, and promotion strategies of Marks & Spencer. The project also summarises the different segments on . Marks & Spencer has achieved a paperless management, which ensures that all over the world Martha chain can continue to run in an orderly manner. U.K. sales growth (up 9.7%) was driven by both food sales, which were up 10.2% (outperformed the market both on volume and value in the four . Marks & Spencer launches new website to replace Amazon platform. A case study analysis report of Marks and Spencer . Because Marks & Spencer has become a very powerful organization in the retail world, new competitors find it very difficult to keep up with the quality of products and services that Marks & Spencer provide. 91-97). The availability of these stores and accessibility are also . Strategic Planning and SWOT Analysis. Furthermore, the companys own brands model provides them with a significant competitive advantage (Marks & Spencer, 2016). (2015). Marks & Spencer plc is an iconic brand which has been trading since 1884 and is still considered one of the UKs top ten brands today (Vizard, 2015). Marks & Spencer: Quality worth paying more for. Marks & Spencer Company Stats Industry Retail and. Some operation management theories are applied in the process of analysis. Weakened consumer confidence and a decrease in the buying power of the pound have already had an impact on sales growth, whilst the decision is expected to affect the retailer in various other ways in future years. Marketing mix of Marks & Spencer (M&S) This detailed analysis of the marketing mix of Marks & Spencer (M&S) aims to look into the 4Ps i.e. The opportunities for any brand can include areas of improvement to increase its business. 5) Existing competitors. Retrieved July 2016, from The Telegraph: http://www.telegraph.co.uk/news/uknews/terrorism-in-the-uk/11428309/Al-Shabaab-calls-for-attackson-Oxford-Street-and-Westfield-centres-in-new-terror-threat.html, Copyright Sofia, Bulgaria, 2023. M&S Bank, which was started in 1985, recently (2014) launched a current account facility with no monthly fee and a 100 M&S gift card. RESEARCH PAPERS AND ESSAYS . Here is the Pestle Analysis of Marks and Spencer. Outdated systems have forced stores to accept deliveries of clothing in sizes they didnt want, and were slow to update details of the amount of stock on the shop floor. The country with the most number of Marks & Spencer locations in the UK is England, with 908 retail stores, which is about 86% of all Marks & Spencer retail stores in the UK. In addition, with regard to the free movement of people, work visas or residence permits would be required for both UK citizens working abroad and EU workers employed in the UK. Food sales accounted for 49.8% of its UK business and had a market share of 4.3%. Industrial cluster is defined as a specific area, with competitive and cooperative relations, and geographically concentrated, with interactive relevance enterprise, specialized suppliers, service providers, financial institutions, related industries such as manufacturers and other relevant bodies composed of groups. The primarily product-oriented strategy of the company that places a strong emphasis on its M&S brand is not beneficial at a time when M&Ss competitors are employing a customer-oriented approach and investing in building strong consumer relationships (Ruddick, 2013). The top 10 competitors average 5.7B. Should M&S give up on clothes and focus on food? Like many other retailers, Marks & Spencer has been hit hard by the pandemic but it is also dealing with years of missteps. Marks and Spencer has nearly a thousand of suppliers, and suppliers Dibos companies having more than 100 years cooperation, with more than 60 suppliers with more than 50 years of partnership. Threats are those factors in the environment which can be detrimental to the growth of the business. At the end of 2015 the company had to temporarily shut down its website due to a security breach (Curtis, 2015) and in 2016, poorly integrated IT systems in the company are still being experienced. Let us start the Marks & Spencer SWOT Analysis: For Marks & Spencer, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position. Retrieved July 2016, from The Guardian: https://www.theguardian.com/money/2016/jan/05/ms-raises stakes-battle-current-accounts-marks-spencer, Butler, S. (2015, May 20). Having begun as a market stall, today it is considered to be one of the UKs leading multinational retailers with over 1,382 stores worldwide, including 468 stores in Eurasia and the Middle East. As a result of poor eCommerce experience, by 2018, the retail giant was considerably behind its competition. The companys 914 UK stores 222 owned and 349 franchises of Simply Food stores as well as the 302 full-line clothing and home stores and an e-commerce platform with over seven million registered users serve 33 million customers in two divisions (food and general merchandise) with a revenue of 5.2 billion and 4.0 billion respectively. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. The company has closed its smaller regional warehouses and in 2010 it opened a super warehouse in Bradford. As the retail business operated products, the technical content of most is not high, more likely to imitate, so facing a greater alternative threats. 5.4%. Marks and Spencer Group plc announced that Fiona Dawson has been appointed a member of the Remuneration Committee with immediate effect.. | January 17, 2023 . An in-depth SWOT analysis that assesses both the internal (strengths and weaknesses) and external (opportunities and threats) environment of the company is given. In the retail sector in which Marks and Spencer operates, competition is strong and growing - the company is facing intense rivalry from supermarkets chains, homewear stores and fashion retailers. Annual Report & Financial Statements. How many Marks & Spencer retail stores are there in the United Kingdom? For M&S, basic earnings per share are 1,6p, whereas for NEXT Plc, basic earnings are share is 416,7p. However, in August 2020, the company announced that it would cut down 7000 jobs due to the covid-19 pandemic. Different generations bring perceptible shifts in consumer behaviour, from the way customers do their shopping, the channels and technology they use to how products are perceived. There are several brands in the market which are competing for the same set of customers. Browse marketing analysis of more brands and companies similar to Marks & Spencer. The decline of M&S post the 1990s was largely due to competitive retailers operating with foreign imports. Advantages and disadvantages can be attributed to internal factors while opportunities and threats can be attributed to external factors. (2016, July 11). Marks & Spencer's main competitors include Lawson, Debenhams, Macy's, John Lewis Partnership, Aldi UK, Asda, Tesco, Next and Waitrose & Partners. Over 80,000 employees form a part of the workforce globally. SWOT analysis of Marks & Spencer analyses the brand by its strengths, weaknesses, opportunities & threats. Too many shops: M&S is closing a third of its 300 high . Analyse PESTEL for Monitoring your Business or Organization. In the case of M&S, the company has placed considerable emphasis on its social agenda. The new reporting regulations M&S adopted in 2014, including a summary of their remuneration framework (Marks & Spencer, 2015) aim to provide even greater transparency to its stakeholders. Some factors like increased competitor activity, changing government policies, alternate products or services etc. In Marks & Spencer SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors. During the financial crisis of 2008, while competitors such as Aldi, Asos or Tesco followed a strategy of discounted pricing, M&S emphasised higher quality products and better consumer satisfaction (The Marketing Society, 2010). The companys new focus on providing customers with a superb experience including in the online sector on top of its High Street chains has enabled the growth of M&S.com in the last quarter of 2014 (Marks & Spencer, 2015). London: Marks & Spencer Plc. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! Competitor comparison. Retrieved July 2016, from The Guardian: https://www.theguardian.com/business/2016/jul/07/welcome-to-the-ms-merry-go-round. In the industries within which M&S operates, customers bargaining power is high. With annual growth of 5%, Marks and Spencer wasn't going to come close to its 2022 growth . Thus, Martha has become the worlds largest no plant manufacturers. M&S persists in shaping its own brand into image of a healthy environment, in its own brands contains a fair trade, sustainable, non-genetically modified products, animal welfare and so on. Standardization is Marks and Spencers consistent style, product quality, type and design of store layout, product display, and even the staff of the service program has a meticulous standard. Looking for a flexible role? M&S offers clothing, home products and luxury food products both in store and online (Marks &Spencer, 2015). Market Average Movement. In 2007 Marks & Spencer (M&S) was the UK's largest clothing retailer with a market share of 11.1%. - provides you an in-depth strategic SWOT analysis of the company's businesses and operations. Short Term: Mid-Term: Long Term: Trends: Bullish: Bullish: Neutral: . They consist of the following: Inbound logistics concern the transport, storage and delivery of goods coming into a business. The Telegraph. Marks and Spencer Group plc - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. On the one hand, Marks & Spencer suppliers guarantees strict demands on product quality; the other hand, Marks and Spencer takes it as its responsibility to help suppliers reduce costs, care providers technological transformation and staff welfare (Tony Grundy, 2003). Health and safety regulations, consumer rights, environmental, antitrust and other legal factors affect the company. At present, the existing competitors in the competitive retail industry has become a variety of forms, a variety of tissue types, regions and business scope of the three-dimensional cross-competition. The 20th century, 80s, it began to lease satellite transmission, integrated global marketing data, the commodity management, logistics and distribution, global procurement and data processing of all applications of advanced modern information technology to significantly reduce the cost, annual savings of more than competitors) 750 million of dollars in spending. According to Joseph L. Bower, Christine Harris of the case study following are the critical resources that are valuable to the firm - financial resources, human resources, marketing expertise, and operations . The international franchise businesses of M&S in the Middle East, Russia and Ukraine also suffered significant decline due to geopolitical instability, local currency fluctuations and decreased consumer demand (Marks & Spencer, 2015). All Rights Reserved, A Marketing an Analysis of Freespirit Retail Outlet, Essay on Zora Neale Hurston, the Gilded Six Bits. Marks & Spencer Competitors Marks & Spencer competitors include Volvo IT, Tesco Corporation, PACCAR, MS Global Inc and Phoenix Technology Services. Marks and Spencer plc was set up in 1884 in Leeds by Michael Marks and re-branded as Marks & Spencer (M&S) ten years later when a partnership with Thomas Spencer was formed. Marks & Spencer Foods is a 100% private brand. Standardization Management greatest advantage is that we can save a lot of management costs, while consumers can enhance the overall impression of the Marks and Spencer, giving them a home away from home shopping experience. The strengths of Marks & Spencer looks at the key aspects of its business which gives it competitive advantage in the market. The former, once the flagship of the company, has suffered a considerable decrease in its market share over recent years and reached a ten-year low in terms of sales in the second quarter of 2016 (Davey, 2016). Not all segments have value to enterprise. Study for free with our range of university lectures! The company's international development through franchise agreements offers it a significant competitive edge over other UK enterprises that solely operate in the UK market (Rogers, 2012). 1st jan. Capi. Porter through the study of industrialized countries finds industrial cluster is a common phenomenon in the process of industrialization, in all developed economies, are it is clear that a variety of industrial clusters. It is one of the pioneering and oldest retail chains in world and still a leading retail business entity in many country including UK and Middle East. The company targets same C1 category customers. In this study, strategic analysis is done on Marks and Spencer. 7.26 %. Add to Library Added to Library Add to Library Remove. Further, the company has decreased its former dependency on full-service vendors (FSVs) and provided more corporate control of its supply chain. Compare Marks & Spencer to its competitors by revenue, employee growth and other metrics at Craft. The company is employing approximately 80000 people in 2020. In terms of controlling, the management of Marks and Spencer has frequent reporting of expenditures with costs to provide a form of feedback. As regards the companys food business, of the four big supermarkets in the British market Tesco, Asda, Sainsburys and Morrisons Tesco and Sainsburys have already developed a high quality range of foods which were previously considered a traditional market for M&S (Ruddick, 2013). The Marketing Society. In addition, in 2009 the company set annual recycling targets (Waste Management Word, 2010) and in 2012 achieved zero waste to landfill (Russell, 2012). (2015). Indeed, Asda became Britains secondbiggest clothing retailer by volume in the summer of 2014 (Butler, 2015). They can introduce new market segments that offer more profit. European Commission. Fashion Retail 2016: The future of fashion retailing in a digital age. Retail enterprises to implement the strategic objective is to choose one or the accumulation of a group of market segments as part of its services, target markets, strategic optimization, to seek their presence in the target market on the competitive advantage. Companies should choose a potential market segment as its target market that will not conflict with a strong competitor. Continuous investment in the scheme has resulted in numerous Plan A products, a Plan A incubator for the development of sustainable products and services as well as the first UK ecofactory (European Commission, 2011). (2016). Facing fierce competition, M & S retail businesses have successfully used a variety of competitive strategies to improve their competitiveness. M&Ss products are perceives as value for money due to quality, convenience and wide range of products. Close cooperation of both sides ensures Marks and Spencer to achieve its corporate objectives provide its goal customers with high-quality product within the ability to purchase.. The company was founded by Michael Marks and Thomas Spencer on September 28, 1884 and is headquartered in London, the United Kingdom. In addition, the recent Brexit vote is likely to have a substantial impact on the retailer in both its home stores and abroad. The industrys competitive position and comprehensive degree lead to economy structure changes within industry, to determine the intensity of but from industry inner competition and determine the ultimate profitability within the industry. 5.3%. 2) Replacement threat. Comment: Retailers must heed Marks & Spencers international strength. SWOT Analysis Of Marks & Spencer is brand-based. The . It is essential to study the internal and external environment in order to achieve a competitive advantage. Further investments are being made in GM IT systems and a logistics network with the aim of delivering better supply chain flexibility and customer availability. This research is conducted to measure and analyse the business and financial performance of the company. Registered office: Creative Tower, Fujairah, PO Box 4422, UAE. Marks & Spencer plc is known through its 1,382 stores worldwide. Annual Report and Financial Statements. Poor online clothing M&S was slow to adopt online clothes shopping. *You can also browse our support articles here >. With the emergence of electronic commerce, M&S also creatively establish a website, combining traditional retailing with e-commerce. Sainsbury defied the gloomy rhetoric around consumer spending in its third quarter to January 7 as it raised full-year guidance on the back of a "record Christmas". The four components of VRIO used in Marks and Spencer Ltd. analysis are -. The company has a long history in the UK market, with its first store dating back. The companys international business, which comprises 468 wholly-owned, jointly-owned or franchised stores and spans 59 territories in Europe, Asia and the Middle East, had revenue of 1.1 billion in the last financial year (Marks & Spencer, 2016). The companys core strategy should be to choose the right industry, as well as the industrys most attractive competitive position. During the years of the financial crisis, the company continued its strong brand momentum by maintaining premium pricing and backing it through investments in advertising. We will be discussing Marks & Spencer's SWOT Analysis. 1884 thus celebrating its heritage (Swift, 2014). (2013, April 11). Below are the top 5 competitors of Marks & Spencer: Hence this concludes the Marks & Spencer SWOT analysis. Subscriber Exclusive Subscriber Exclusive (2014, September 1). Marks and Spencer is one of the leading department stores and grocery retailers based in the United Kingdom (UK). Second, analyze how M&S can running there business in the competitive environment, trying to explain more different market segment in M&S and how the different market segment works together, analyzing their competitive advantage in this cloth industry. It may need to restructure its supply chain once it loses access to the EUs open market and UK citizens working in stores in the EU as well as EU nationals employed in UK stores may be affected when the freedom of movement of workers is no longer applied in the UK (Dentons, 2016). However, from 1998 to 2001, M&S operating profit had been on the decline. In J. Harrison, Essentials of Strategic Planning (pp. The article below lists the Marks & Spencer SWOT, competitors and includes its target market, segmentation, positioning & USP. At the other end, fashion brands such as Zara, H&M, Gap and Next are targeting younger, fashion-oriented clientele with their latest fashions and affordable prices. The main way to differentiate their market position, that is, to determine a companys market position is different from other enterprises or image. Several shifts in the consumer market such as the increasing price sensitivity of customers seeking classical designs, increasing preference for fashionable items or the disloyalty of UK consumers to British products are increasingly affecting the retailer (Cunningham, 2016). In this area, Marthas main competitors are facing the department store, and Saier Fu Leach youth-oriented casual relaxed style of the shops, in addition to including many other stores. Marks & Spencer profits jump for first time in four years. Executive Summary. The companys international expansion via franchise agreements gives it a strong competitive advantage compared with other UK businesses that trading only on the UK market (Rogers, 2012). The company's food business is being rivalled by supermarkets such as Tesco, Sainsbury's and Asda, and it is competing with clothing and homewear retailers such as Topshop, Zara and John Lewis (Retail Week, 2016). Marks and Spencer Case Study 3. Its decision to maintain investments in innovations and brand-building advertising throughout the recession has successfully strengthened its brand positioning as a company offering high quality and good value products (Marks & Spencer, 2016). Most traditional retail stores are selling a variety of brands of goods, of course, there are also some traditional retailers also selling a small amount of own-brand goods, such as designers for Target to sell tailored specialty products. Consequentially, the slight decline of sales and share prices in 2008 were followed by steady improvements in both these indicators a year later, thus escaping the hard to reverse grip of discounted prices felt by many other competitive retailers (The Marketing Society, 2010). Yet, these attempts have so far not resulted in a desirable outcome (BBC, 2013). In 2015, M&S experienced stalled growth in its international business due to global uncertainties, substandard infrastructure and decreased profitability in new markets which lead to the closing of twelve stores in 2016. Strategic Business Analysis of Marks & Spencer. Quizzes test your expertise in business and Skill tests evaluate your management traits. The essay explains what the important parts of Marks and Spencer's (M & S) current and historic strategies are. As regards its fashion business, the speed with which the latest trends are being communicated to designers has increased as has the speed of transportation. Founded in 1884, the more than a hundred-year-old chain has long been a household name in the United Kingdom (and elsewhere! Retrieved July 2016, from TaylorWessing: http://www.taylorwessing.com/download/article_fashiontech_trends.html, The Economist. The Competitors analysis of Marks and Spencer Enters China looks at the direct and indirect competitors within the industry that it operates in. Further developments in this regards can present opportunities for the company (Brignall, 2016). In today's marketplace most M&S competitors are using the model of a 'shop within a shop' (Ognjenovic, 1980). 10% least volatile stocks in GB Market. ACCESS NOW More on Marks & Spencer News In combination with the reduced buying power of the pound and with 1.1 billion in revenue coming from international markets, the company needs to put together a strategic plan on how the likely impact of Brexit can be minimised. Essay, 13 pages (3,512 words) Download PDF; DOCX; The business strategy of marks and spencer Subject: Others. Marks & Spencer ranks 1st in Employee Net Promoter Score on Comparably vs its competitors. 5 kinds of factors are the threat of potential entrants, threat of substitutes, the bargaining power of buyers, suppliers and the bargaining power of existing competition within industry. Considerable emphasis on its social agenda discusses the industrys most attractive competitive position to improve their.!: Creative Tower, Fujairah, PO Box 4422, UAE recent Brexit vote is likely to a! High-Quality and low price, a penny can be attributed to external factors long been a household name in environment! Competitive strategies to improve their competitiveness Subject: Others words ) Download ;... Taylorwessing: http: //www.taylorwessing.com/download/article_fashiontech_trends.html, the more than a hundred-year-old chain has been... ( BBC, 2013 ), consumer rights, environmental, antitrust and other legal factors affect the has! 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Competing for the company, as well as the industrys most attractive competitive position ( Swift 2014. Spencer, 2016 ) this study, strategic analysis is done on Marks and Spencer Enters looks. 100 % private brand in employee Net Promoter Score on Comparably vs its competitors in this regards can opportunities... The market which are competing for the company has closed its smaller regional warehouses and in 2010 opened! Hit hard by the pandemic but it is one of the business and performance. In customers cancelling delayed orders ( Butler, 2015 ) creatively establish a website, traditional! Of analysis concern the transport, storage and delivery of goods coming into a business Skill... The process of analysis Spencer to its competitors by revenue, employee and. The market establish a website, combining traditional retailing with e-commerce emergence electronic...