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Factors That Have Been Particularly Favorable to Marks and Spencer in Diversifying Its Retail Businesses Into Financial Services (Lending, Pension, Life, Assurance Etc.) Essay

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Below is an essay on "Factors That Have Been Particularly Favorable to Marks and Spencer in Diversifying Its Retail Businesses Into Financial Services (Lending, Pension, Life, Assurance Etc.)" from Anti Essays, your source for research papers, essays, and term paper examples.

Factors that have been particularly favorable to Marks and Spencer in diversifying its retail businesses into financial services (lending, pension, life, assurance etc.)
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• Good image and reputation of the company.
A company's image is what makes it stick in the minds of potential customers. It's so important because your image instantly tells all your customers and vendors what kind of company you're running. If your image is excellent, it will make your company stand out from its competitors.
Since the 1894 Mark and Spencer Company always offers products with the highest standards and quality and pride of services. So they manage good reputation and good image in the market. Because of the good quality and the pride of the service consumer building trust on the company.

• High recognition of brand.
A brand is the personality that identifies a product, service or company (name, term, sign, symbol, design, or combination thereof); it also represents a relationship to key constituencies: customers, staff, partners, investors etc. Proper branding can yield higher product sales, and higher sales of products associated with the brand (or brand association). The branding process seeks to develop or align the expectations behind the brand experience, creating an impression that a product or service associated with a brand possesses certain qualities or characteristics that set it apart from other (e.g., competitor) products or services.
Since Mark and Spencer provides a good service over years they have a strong brand name for the company. When they are diversifying to the financial businesses in the market strong brand name very much effective to entrance the financial market. Because of the strong brand name they can grab a huge customer base in the beginning.

• Geographically based divisions - Backward integration-Integration with the suppliers - Adequate information processing.
When a company diversifying company must have broad vision and information...

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MLA Citation

"Factors That Have Been Particularly Favorable to Marks and Spencer in Diversifying Its Retail Businesses Into Financial Services (Lending, Pension, Life, Assurance Etc.)". Anti Essays. 13 Dec. 2018

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APA Citation

Factors That Have Been Particularly Favorable to Marks and Spencer in Diversifying Its Retail Businesses Into Financial Services (Lending, Pension, Life, Assurance Etc.). Anti Essays. Retrieved December 13, 2018, from the World Wide Web: http://parimatch-stavka7.com/free-essays/Factors-That-Have-Been-Particularly-Favorable-758904.html


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