What would be an ideal mission statement for Marks & Spencer with the following framework? Components of a Mission Statement1. Customers Who are the firm's customers?2. Products or services-What are the firm's major products or services?3. Markets Geographically, where does the firm compete?4. Technology Is the firm technologically current?5. Survival, growth, and profitability Is the firm committed to growth and financial soundness?6. Philosophy What are the basic beliefs, values, aspirations, and ethical priorities of the firm?7. Self-concept (distinctive competence) What is the firm's major competitive advantage?8. Public image Is the firm responsive to social, community, and environmental concerns?9. Employees Are employees a valuable asset of the firm?

Sample-1At Marks and Spencer, our mission is to continually redefine excellence in the retail…

Answered: What would be an ideal mission…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Line And Brand Extension Firms are usually faced with four broad branding choices. Obviously, having good brand equity presents the opportunity to leverage this strength in the marketplace for greater profitability. In this activity, your task is to simply classify each example to the brand strategy choice (refer list) that the firm has pursued. ACTIVITY/TASK Coca-Cola also sells several ‘budget’ soft drink brands (in some countries) through the major supermarkets. In recent years, Coke has introduced various flavors of Coke (such as, Vanilla, Cherry). Assume that Coca-Cola is considering entering the snack food market, with a range of chips, popcorn, and pretzels to be marketed under a new brand called ‘Titanic” (and using the slogan – ‘really big on taste’). A fitness center decides to add a ‘super-advanced’ aerobics class for its very fit customers. Milo (a chocolate milk flavoring brand) used to be simply a powder to add to milk. But now Milo is also an ice cream, a cereal, and a…
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