MG3122 STRATEGIC MARKETING Essay Example | Topics and Well Written Essays - 2000 words

MG3122 STRATEGIC MARKETING - Essay Example2.0 John Lewis John Lewis is celebrated departmental set up chain of United Kingdom. The store chain has expanded business throughout the estate within last hundred years. The political party is headquartered at London, United Kingdom. The departmental store chain was founded by John Lewis in the year 1864. In the initial period the organization started their operation as one store but soon they transformed their business model into departmental store chain with the friend of John Lewis Partnership. 2.1 John Lewis Partnership The partnership model gives opportunity to employees to gain partial ownership and yield as stakeholder to business operation of the departmental store chain. John Lewis Partnership provides partial ownership or partnership benefits to existing thirty nine thousand employees of the go with (McCallion, 2010). The John Lewis Partnership has won Retailer of the Year in the year 2011. Recent report published by the beau monde shows that they have more than 81,000 permanent rung as well as partners. John Lewis has been ranked as one of premium departmental store chains of United Kingdom. They have already opened thirty eight outlets and also planning to arrive at strategic business units in foreign shore within next five years. The London ground departmental store chain has achieved annual gross sales revenue of ?8.7bn in the year 2011 (John Lewis Partnership, 2012). 2.2 concern Strategy Business model of the company can be understood in the following manner. The company operates with 30 departmental stores across United Kingdom in order to provide multi brand products to customers The company has opened eight John Lewis at home stores They have also established 285 Waitrose supermarkets for selling products on online platform Business strategy of the company relies on three interdependent variables such(prenominal) as s Partners, profit and customers in order to achieve get under ones ski nable business growth. Strategic initiatives of the company can be analyzed in the following manner. Providing maximum sustainability and security to partners in order to spark them to perform well. The company has understood that satisfied partners can suffice them to improvise in daily operation which will help them to increase operational excellence. Partners need to emphasize on recruiting and retaining loyal customers through providing them excellent customer triads such as quality, service and price. The company tries to retain sufficient profit margin for partners in order to sustain commercial vitality of the company. John Lewis distributes profits to staffs and partners on regular basis in order to motivate them to perform well (John Lewis Partnership, 2012). 3.0 Industry Overview John Lewis has cemented a premier position in retail and departmental store industry. The company faces competition in the field of Furniture Manufacturing, Consumer durable Manufacturing, Texti le Manufacturing and Grocery Supermarket. ASDA Group, Arcadia Group, label & Spencer and Argos Limited are major competitors for John Lewis. Swedish furniture retailing giant IKEA has recently entered in retail