Marketing Management of UK Fashion Retail Market

Running head: MARKETING MANAGEMENT
MARKETING MANAGEMENT
Name of the Student
Name of the University
Author Note

MARKETING MANAGEMENT1
Table of Contents
Introduction................................................................................................................................2
Discussion..................................................................................................................................2
Introduction to retail:..............................................................................................................2
Introduction to the company:.................................................................................................3
Key relevant changes in UK fashion retail market:...............................................................4
Political Factors:.................................................................................................................4
Economic Factors:..............................................................................................................4
Socio-cultural Factors:.......................................................................................................5
Technological Factors:.......................................................................................................5
Relevant changes in terms of micro-environment:................................................................6
Strengths-...........................................................................................................................6
Weaknesses-.......................................................................................................................7
Opportunities-....................................................................................................................8
Threats-..............................................................................................................................8
Strategies and Tactics:............................................................................................................8
Recommendations....................................................................................................................10
Conclusion................................................................................................................................11

MARKETING MANAGEMENT2
Introduction
The amalgamation of various approaches in preparing, supporting and assisting teams,
organizations and individuals for addressing changes in the organization is known as change
management (Hayes 2018). Few evidences of change management involve process reviews,
consumer behavioral changes, organizational restructuring, mergers and acquisition, and
technological changes. The systematic approach of dealing with transformation in the
organizational goals and processes is known as change management (Cameron and Green
2019). The managers should invest efforts in recognizing the significance of both internal and
external environments before framing a strategy or method. The purpose of the paper is to
assess the changes in the retail fashion industry of the United Kingdom. The paper will assess
the macro and microenvironment of the UK fashion retail industry for the chosen company,
Primark.
Discussion
Introduction to retail:
The procedure involved in selling consumer services and goods directly to the customers
with the help of multiple platforms of distribution in order to earn a profit is known as retail.
The purpose of the retailers is to satisfy or address the demands recognized in the operational
process. In retailing, the retailer addresses the smaller orders of the end consumers (Ayers
and Odegaard 2017). Retail can be considered as the endpoint of the whole distribution
network which avails the offerings to the consumers (Attaran and Gunasekaran 2019). A
retailer can either source the products directly from the manufacturer or through the suppliers
and/or distributors or C&F agents. Retailers buy the finished products for facilitating the
availability in the targeted market (Kahn, Inman and Verhoef 2018). Similar to the traditional
supply chain practice, the retailer increases the price for adding the cost of labor, distribution,

MARKETING MANAGEMENT3
and equipment. The increase in price depicts the value of mark-up, which is the profit margin
of the retailer. When fashion is sold to the end consumers through various channels or
platform or process demonstrates the conception and operation of fashion retail.
Introduction to the company:
The chosen fashion retail company for this paper is Primark. Primark is considered to
be a fast-fashion retail brand. Headquarter of the Irish retail brand is located in Ireland,
Dublin. Primark is the subsidiary under the public limited retail organization, Associated
British Foods. Primark was founded in the year 1969 in the month of June in Ireland. The
offerings of Primark involve a diverse and varied range such as children and baby clothing,
menswear, womenswear, footwear, confectionaries, accessories and beauty products. The
main competitors of Primark are H&M and Zara. The retail company, Primark is considered
to be one of the leading fashion retailers, which is specializing in clothing, footwear, and
accessories. Headquarter of the company is located in Dublin. With the constant growth and
expansion plans, as of 2019, Primark has a total of 373 retail stores in a global scale, which
involves the regions like Republic of Ireland, Spain, United Kingdom, Netherlands, Austria,
Italy, the United States, Germany, Portugal, and France (Primark.com 2020).
The retail brand is popular for its updating trends and low-cost end operation in the
fast fashion industry. In the 373 stores, around 174 stores are located in the United Kingdom.
From the year 2007, the retail brand, Primark has considerably enhanced the share in the
clothing market of the United Kingdom. The elevation can be witnessed rising to 7.1 percent
during the year 2018 from 4.1 percent (Statista.com 2018). The constant efforts and
prominent growth in the market of the United Kingdom have brought Primark's position just
behind the huge retailer Marks & Spencer from the year 2008 to the year 2018.