Business Strategies of Marks and Spencer towards Their Business Essay

Business Strategies of Marks and Spencer towards Their Business Expansion into chinaware - Essay ExampleThis paper illustrates that Marks and Spencer were established in the year 1884 by Michael Marks and since therefore has grown rapidly to about 600 stores in the UK alone employing about 75000 individuals across the globe in different grocerys. However, the aspect of inter rural areaal expansion must be handled with caution as one of the most cardinal mistakes made by multinational firms involves undermining the aspect of local sentiments and beliefs that can lead to disastrous consequences in damage of positioning of the brand in the new foreign markets. The company has a dedicated presence in about 40 nations across the globe. China holds considerable promise for Marks and Spencer for expanding its business as the nation holds a considerably position with regards to ease of doing business. According to a report published by the public Bank China ranks 79 among all the nati ons with regards to ease of doing business preceded only by India, Brazil, and Russia among the emerging markets. In summing up, China is excessively the highest populated country in the world and its recent strides in economic suppuration have led to making it one of the major markets for retailers across the globe. Cities like Shanghai and Beijing spend a penny high on the list of international companies trying to expand internationally due to good market potential.A research study conducted to analyze the consumer behavior states certain key trends of the Chinese consumers that include a good growth in consumption patterns, greater sophistication of the consumers, a reduced trade up of products and brands, switching towards brand value and brand image and finally display of greater smarter purchasing trends among the consumers. In addition to this, the Chinese consumers have also become more inclined towards better service and are also influenced to some extent by Western br ands.