Marks Spenser in Turkey :: Marketing Strategy

Marks Spenser in TurkeyFor years, M&S selling strategy was simple produce high quality products under a famous mail appoint at affordable prices, and advertise the products in neoclassic ways. However, in recent years this strategy collapsed and the company started to lose its competitiveness. M&S had to find solution to this problem to survive in both domesticated and overseas marketing environment. It is known that franchising is one of the most important factors of future development of any company. Consequently it is essential for M&S to have a reliable franchisee as Fiba Holding to become successful in such(prenominal) a big marketing area as Turkey. First of all, franchising allows the company to action success in Turkey with minimal economic and political risks. Since opening of own outlet in Turkey requires an agreement with the government and careful look for on local market conditions, it is to the advantage of M&S to have a local partner working under companys brand name. And about 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 oddity of the 2002. The profit made in recent years encouraged the Fiba Holdng to expand as a M&S franchisee. In addition, a M&S credit card financial service is occured to be very attractive for their potential customers. Another factor making M&S brand name so popular are the deracination prices and many 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 inflation of Turkish currency has a very tiny effect on the prices changing.