Exploring International Marketing Management Philosophy
Added on 2020-01-06
15 Pages4048 Words50 Views
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MarketingManagement1
Executive SummaryMarketing management consists of marketing activities related with analyzing, planningas well as implementing the activities in such a manner that it may easily promote the resourcesand activities in the market. Further, selecting effective marketing strategy will support thebusiness to sustain in the competitive environment among their rival companies. Along with this, it has also stated that internal and external environment audit has beendone of the Primark company with the help of using different tools such as SWOT, Pestle etc. allthe tools and technique will support the company ins understanding their internal strength as wellas weaknesses that will support them in attaining overall goals and objectives. In addition to this,marketing objectives has been set in relation with the key challenges and issues so that companycan easily reduce their negative impact. In addition to this, report had also undertaken thesegmentation, targeting and positioning of their products so that they may easily sustain amongthe competitive environment. 2
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................4TASK 1: THE AUDIT ....................................................................................................................4TASK 2: KEY ISSUES AND CHALLENGES .............................................................................5TASK 3: MARKETING OBJECTIVES.........................................................................................6TASK 4: SEGMENTATION, TARGETING AND POSITIONING..............................................7TASK 5: MARKETING MIX.........................................................................................................8TASK 6: CONTROLS AND MEASUREMENTS.......................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12APPENDIX....................................................................................................................................143
INTRODUCTIONMarketing management focuses on the different activities that are concerned with thedistribution of goods and services in the competitive market (Kotler and Keller, 2012). With theincreasing globalized scenario it has enable the establishment to go on the far side of theboundaries to exchange their goods and services in the worldwide market. In addition to this forliving among the competitive organization in the industry the firm demand to engage in framingeffective marketing strategies that will help them in selling their own merchandise within themarket. Presently, the report has been made with the attempt that clothing retail market isconstantly increasing at the fast pace. For this Primark has been chosen one of the leading Irishclothing retailer that deals in retail industry and deals in various products such as clothing,housewares as well as cosmetics. Furthermore, the report will also focus on auditing the chosenretailer with the help of undertaking various models. In addition to this, it also key focuses ondetermining various key issues and challenge that is faced by Primark. Along with this, strategicmarketing plan also include summarizing the segmentation, targeting and positioning approachso that Primark can easily target the market as well as reposition itself in the marketplace.TASK 1: THE AUDIT The business decisions of Primark is mainly influenced by different internal as well asexternal factors (Cravens and Piercy, 2008). These factors are mainly determined by the Primarkthrough conducting audit of their environment considering both internal and externalenvironment (including competition). With the increasing level of competition and level ofsubstitute products Primark is facing intense competition within the retail industry (Saxena,2010). For auditing the internal and external environment Primark often uses various tools suchas SWOT analysis, PESTLE analysis as well as STP analysis etc. with the help of conductingSWOT analysis Primark can easily gain information regarding their internal strength andweakness as well as it also support in gaining external opportunities as well as threats of theorganization. SWOT ANALYSISStrengthCompany possess diverse range ofWeaknessesThe slow growth with in the economy4
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