Marks Spenser in Turkey :: Marketing Strategy

Marks Spenser in turkeyFor years, M&S marketing strategy was simple produce high quality products under a famous brand name at affordable prices, and advertise the products in classical ways. However, in recent years this strategy collapsed and the company started to retreat its competitiveness. M&S had to find solution to this problem to survive in both domestic and overseas marketing environment. It is known that franchising is one of the intimately important factors of future development of any company. Consequently it is essential for M&S to have a reliable franchisee as Fiba prop to twist successful in such a big marketing state as Turkey. First of all, franchising allows the company to achieve success in Turkey with minimal economic and political risks. Since opening of own outlet in Turkey requires an agreement with the government and careful research on topical anaesthetic market conditions, it is to the advantage of M&S to have a local partner working under com panys brand name. And active 700 outlets in 34 countries is the best show of efficiency of franchising. In Turkey, the Fiba Holding is planning to increase the number of M&S outlets by the terminal of the 2002. The profit made in recent years encouraged the Fiba Holdng to enlarge as a M&S franchisee. In addition, a M&S credit card financial service is occured to be actually attractive for their potential customers. Another factor making M&S brand name so popular are the cut prices and many an(prenominal) types of promotions done by the company periodically. Since M&S has concentrated on middle class customers, the cut price and promotion strategy plays a significant role in increasing the local demand. Furthermore, M&S company tries to behave in such a way that lump of Turkish currency has a very tiny effect on the prices changing.