Marks & Spencer: Quality worth paying more for
SNAPSHOT
The determination of Marks & Spencer to hold fast to its message of quality through both the good and bad times reinforced the brand's premium positioning and its profitability.
KEY INSIGHTS
Despite the recession Marks & Spencer (M&S) held its nerve by maintaining its premium pricing and continuing to invest in brand-building advertising.
Refusing to lower prices meant the retailer didn't suffer the fate of companies which cut pricing in the bad times and then struggled to raise them again.
Outstanding communications, including iconic advertising, were an important part of its...