Mission Statements – Poundland & Marks and Spencer

Blog 5

For this weeks blog we were asked to examine the mission statements of two different businesses.  The mission statement of a business can vary in length, style and wording however all mission statements do the same thing, which is to make clear the aim of that particular business.  Having looked at a variety of different mission statements, for many different types of businesses, it is clear that many different tactics are used to get across a particular businesses message.  Generally, the way this is done depends on the business’s target audience.  For example, for a business focused towards young teenagers the wording will be less formal and more to the point.  For a business aimed at professionals, the wording and style will be official and proper.

The two business statements I examined in detail were that of Poundland and Marks and Spencer.  These businesses are similar in that they both are physical shops, where you go to buy products – as opposed to a website or a business which offers a service.  However these companies mission statements are dramatically different.  Both are shown below.

Poundland

“To create a retail environment that offers unbelievable value and variety and satisfies customers of every lifestyle.”

Marks and Spencer

“To be the standard against which others are measured, to make aspirational quality accessible to all and quality value, service, innovation and trust.”

While Poundland (as the company’s name suggests) offer value, and essentially cheap products, Marks and Spencer are focused more on the quality of its products and service, rather than the value at which it is delivered.  The word “value” is used in their mission statement, but the clever use of the word “quality” before it highlights that they would rather charge a slightly heavier price but with good quality than a cheapened, lesser quality product or service.

Both the businesses, while being different, are very successful, with mission statements aimed at their target market with the intention of increasing profits.

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