How does consumers' behavior change due to some environmental factors? An analysis for Marks and Spencer's garment products:

For Marks and Spencer's, the following factors decide the way people will behave in a given business environment:

1. Socio-economical factors:

Fi) Income Class: Most of the M&S garments products are premium-priced, so the consumers perceive it an expensive brand. The major income class which purchases M&S products is upper and elite.

(ii) Economic shifts: A change in economic condition of the country affects the purchasing power of customers. As Marks and Spencer's is perceived as an expensive brand, even a minor change in the economy can take a large portion of customers out of the target market.

(iii) Age Group and Life style: Every age group has different clothing preferences and choices. Some people are fashion conscious while others are less trendy in terms of clothing. This thing affects the sales of respective garment products. A garment retailer has to keep its offerings abreast of changing preferences and offer an array of products for all age groups.

(iv) Psychographic factors: Some customers are brand conscious and never switch to other brands in their whole life. This is up to the competitors how they convince them that they are better than others.

2. Geographical factors:

Every country has its own cultural values and living patterns. Clothing trend in the West is totally different from the East. So the garment retailers cannot sell the same products in all the regions. They have to design and make garments according to the religious, geographical, and social aspects of every region.

3. Top competitive products and substitutes:

The biggest threat for any organization is its competitors. Marks and Spencer's has a large number of competitors and most of them are selling their products at a cheaper price. The successful strategy which Marks and Spencer's uses to adopt is advertising its products with its biggest strength; the supreme quality. This strength has turned into the core competency and M&S wishes to make it a distinctive competency which no one would be able to copy.