Exploring International Marketing Management Philosophy

This assignment provides insights into marketing management philosophy, highlighting five important concepts: market orientation, customer satisfaction, market segmentation, targeting, and positioning. It also explores the importance of marketing for a business's success. The assignment uses Primark as an example, discussing how it applies these marketing concepts to its operations. Additionally, the assignment includes PESTLE analysis, examining the political, economical, social, technological, legal, and environmental factors that affect Primark's activities.

Marketing
Management
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Executive Summary
Marketing management consists of marketing activities related with analyzing, planning
as well as implementing the activities in such a manner that it may easily promote the resources
and activities in the market. Further, selecting effective marketing strategy will support the
business to sustain in the competitive environment among their rival companies.
Along with this, it has also stated that internal and external environment audit has been
done of the Primark company with the help of using different tools such as SWOT, Pestle etc. all
the tools and technique will support the company ins understanding their internal strength as well
as 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 company
can easily reduce their negative impact. In addition to this, report had also undertaken the
segmentation, targeting and positioning of their products so that they may easily sustain among
the competitive environment.
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TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................4
TASK 1: THE AUDIT ....................................................................................................................4
TASK 2: KEY ISSUES AND CHALLENGES .............................................................................5
TASK 3: MARKETING OBJECTIVES.........................................................................................6
TASK 4: SEGMENTATION, TARGETING AND POSITIONING..............................................7
TASK 5: MARKETING MIX.........................................................................................................8
TASK 6: CONTROLS AND MEASUREMENTS.......................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12
APPENDIX....................................................................................................................................14
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INTRODUCTION
Marketing management focuses on the different activities that are concerned with the
distribution of goods and services in the competitive market (Kotler and Keller, 2012). With the
increasing globalized scenario it has enable the establishment to go on the far side of the
boundaries to exchange their goods and services in the worldwide market. In addition to this for
living among the competitive organization in the industry the firm demand to engage in framing
effective marketing strategies that will help them in selling their own merchandise within the
market. Presently, the report has been made with the attempt that clothing retail market is
constantly increasing at the fast pace. For this Primark has been chosen one of the leading Irish
clothing 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 chosen
retailer with the help of undertaking various models. In addition to this, it also key focuses on
determining various key issues and challenge that is faced by Primark. Along with this, strategic
marketing plan also include summarizing the segmentation, targeting and positioning approach
so 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 as
external factors (Cravens and Piercy, 2008). These factors are mainly determined by the Primark
through conducting audit of their environment considering both internal and external
environment (including competition). With the increasing level of competition and level of
substitute products Primark is facing intense competition within the retail industry (Saxena,
2010). For auditing the internal and external environment Primark often uses various tools such
as SWOT analysis, PESTLE analysis as well as STP analysis etc. with the help of conducting
SWOT analysis Primark can easily gain information regarding their internal strength and
weakness as well as it also support in gaining external opportunities as well as threats of the
organization.
SWOT ANALYSIS
Strength
 Company possess diverse range of
Weaknesses
 The slow growth with in the economy
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stylish and fashionable products.
 The company also takes initiatives for
Ethical Trading with their employees.
 Another strength of company is that it
bear no advertisement expenditure as
the company focuses on word-of-mouth
publicity.
 Powerful existence within the European
region.
act as the major weakness for Primark
as it reduces their overall ratio of profit.
 Another weakness of Primark include
that for manufacturing the products
they outsource the raw material that
hamper their quality (The Importance
of Marketing for the Success of a
Business, 2014).
Opportunities
 Company has opportunity to grab the
Asian market through expanding their
stores within the middle east regions (5
Important Concept of Marketing
Management Philosophy, n.d).
 The company also have opportunity to
expand their product range by
manufacturing the sportswear as it is
consider as fastest increasing section.
Threats
 Major threat for Primark are their
competitions that effectively uses
different tools and technique of
promotion.
TASK 2: KEY ISSUES AND CHALLENGES
From using the above auditing tools that is STP, SWOT as well as PESTLE analysis it
has been identified that there are different barriers as well as challenges that hinder or affect the
success of Primark in the retail industry (De Brentani, Kleinschmidt and Salomo, 2010). The key
challenges and issues are as follows-
 Does not target other segment customers- The foremost issue that has been identified
is that Primark mainly target young customers from the age group 16-30. therefore, retail
company will do not focus on other segment customers that will not increase their
customer base.
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 Increasing level competition- Primark is facing tough competition from the rival
companies that is Zara and H&M that act as the major challenge for Primark to survive
among them (De Mooij, 2013). With the increasing level of competition Primark need to
focus and review the strategy of their competitors so that they can frame their policies
and strategies according to that.
 Slow economic growth- Slow economic growth as well as economic recession also act
the key challenge for Primark as it will results in lowering the purchasing power of
customers with the decrease in their income level (Freeman and et.al., 2010). Therefore,
it negatively impact the image and productivity of the company. Along with this,
economic recession also fluctuate the demand of stylish and fashionable products in the
market.
Therefore, it is said that Primark need to concentrate on overcoming these identified
issues and challenge through taking necessary step that will support the clothing brand in
reducing the effects of these challenges (Moeller and Harvey, 2011). Thus, it will benefit the
company in performing and running their business smoothly among the competitors. For this
prospect, Primark must engaged in delivering quality and fashionable products to their customers
as well as company would also use effective marke4ting tools and techniques so that they can
overcome the identified challenges.
TASK 3: MARKETING OBJECTIVES
In order to lead the company in proper direction it is essential to formulate effective
marketing objectives (Cravens, 2010). The main aim of marketing objective is to ensure that they
must meet all the requirement of their customers and satisfy them properly. Hence, it is
significant for the company to devise effective marketing objectives that will assists the retailer
in increasing their productivity as well as profitability ratio. The marketing objectives are
formulated in the SMART format that is- Specific- The objective of Primark retail company is to increase their sales percentage up
to 50% in the next year (Dann and et. al., 2007). In addition to this, the company also
have objective to gain customer base through meeting all expectations and satisfying
them by providing quality fashionable apparels.
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 Measurable- The above specific objective is easily measurable with the help of assessing
their past profitability ratio that is constantly increasing year after years (Gilbert, 2003).
On the other hand, another objective is also measurable in nature as retailer is in contact
with their customers that support them in providing them adequate information regarding
their satisfaction level. Achievable- Furthermore, Primark must also provide adequate training to their staff and
employees so that they may easily attract their employees and satisfy them by providing
them required products. Thus, it will also support in generating the sales percentage
(Hall, Jones and Raffo, 2007). Reliable- The above specific objective is reliable in nature as they have adequate market
share within the UK that support them in generating their sales volume as well as
increasing customer base by providing range of quality products.
 Time frame- The stated objective also features specific time period that is within 1 year
Primark can easily achieve the specified objectives and goals.
TASK 4: SEGMENTATION, TARGETING AND POSITIONING
In order to understand the concept of marketing Primark manager must ensure proper
market segmentation, targeting as well as positioning of their products so that firm can easily
target and position their new products in the market (Handlechner, 2008). Thus, Primark focuses
on sectioning their market into different segments that mainly results in building strong image of
company in the international market. For instance, Primark focusing on introducing their new
range of baby clothings as well as products in the market. Therefore, manager need to analyse
the concept of STP within the organization.
 Segmentation- In order to serve in the international market establishment find out
difficult to reach the target customers (Hastings and Saperstein, 2007). Therefore,
segmentation process plays vital role for operating their activities in the market so that
they can target the segmented customers who can purchase their products and results in
maximizing their sales ratio. The process of segmentation ensure sectioning of whole
market into different categories on the basis of sex, gender or preferences etc. For
instance, Primark retailer introducing range of baby clothings as well as different
products in the market company categorized the customers on the ground that they are
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married (Kotler, 2006). They would target the married segment customers as they have
high probability of having a baby.
 Targeting- After the segmentation criteria Primark focuses on selecting the targeting
strategies so that they can easily target the segmented group that is married customers.
Basically Primark also uses four ways of approaching their target market with the help of
enabling undifferentiated marketing, Differentiated, niche marketing or customised
marketing (Helsen, 2014). Therefore, knowing the potentiality of target market it is
essential for Primark to focus on effective targeting strategy that will support the Primark
in successfully in introducing their baby products and apparels in the market.
 Positioning- It is the phase under which Primark will position their new baby products so
that sit may build the image of particular product in the mind of their customers. Thus the
image of product is further being developed to create the brand value of Primark
(Hollensen, 2015). In addition to this, for positioning the baby products and clothing
company focuses on effective promotional technique that is through advertisement
information is conveyed to the targeted audiences.
Hence, Primark clothing retailer must focuses on using the segmentation, targeting and
positioning approach that support in meeting the requirement of customers and thus, it also target
the new customers. In addition to this, it has been recommended the for improving the
positioning of Primark products company can use derivative pricing strategy (Keegan, 2002).
With the help of using this strategy it ensure setting high value for the baby apparels in the
developed countries while setting low prices for apparels in the developing countries. Thus it
will assist the Primark in positioning their brand image in different sectors as well as it also
assists in building their image.
TASK 5: MARKETING MIX
For marketing or introducing the products of Primark in the market marketing manager
must focuses on using the marketing mix tools. Marketing mix is the tool that basically focuses
on four key elements that support the organization in accomplishing their desired targeting and
positioning (Kotler and Keller, 2012). Thus, it is recommended that Primark must focuses on
three elements of marketing mix that is-
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 Product- The primary element of marketing mix include product that is deal by Primark
with their customers on the exchange of money. Product is tangible in nature that is
offered to the customers and will also assists in satisfying the customers (Liano, 2012).
The characteristic as well as attribute of products are different form their competitors that
differ them from their rival companies. Therefore, Primark products are different from
their rival companies as it offer range of baby products that comes in different sizes as
well as colours. It has been recommended that the products provided by Primark must be
of quality in nature so that customers can purchase it for their baby (Campbell, 2012). In
addition to this, quality of material used in manufacturing the products add feature to the
product that drive the customers towards purchasing their products and services.
Furthermore, it is also recommended that Primark product must ensure distinctive feature
within the baby products that allow them to be different from their rival companies. Price- Another component or element within the marketing mix include setting price of
the products that are offered by Primark retailer (Cravens and Piercy, 2008). For instance,
Primark is introducing their new range of baby products as well as clothing in the market
therefore, they must adopt effective pricing of their products as customers perceive
products through considering their monetary value in comparison with their rival
company pricing. Therefore, it is recommended that for offering the baby cloths and
products in the market they must focuses on using the penetration pricing policies that is
initially setting low prices for the baby products sand after sometime rises the prices of
their products in order to sustain its position in the market (Saxena, 2010). Along with
this it is also recommend that Primark can also engage in skimming pricing policy for the
baby products and clothing that mainly ensure setting high prices for the products so that
Primark can easily gain the cost of their production as well as expenses. Later on, the
company reduces prices of their products.
 Promotion- Another recommended element is promotion that basically focuses on using
effective strategies and methods for marketing and promoting their products in the
market. Using effective pro motional strategies well as technique will support the
Primark in increasing their brand image with increase in their customers base (Whitwell,
2001). Although company is introducing new range of baby products sand apparels for
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targeting the married customers it is recommended that they must promote their products
through creating an effective advertisement with include graphics and video to attract the
customers. In addition to this, it is also recommended the Primark must also adopt social
networking platform for promoting their baby products and apparels to attract wide
customers base (Williams, 2012).
Therefore, the above recommendations will support the retailer in accomplishing their
objectives related with increase in sales as well as it will also improve the satisfaction level of
customers that will results in providing quality material clothing and baby products to the
customers.
TASK 6: CONTROLS AND MEASUREMENTS
In order to successfully implementing the marketing mix elements Primark manager must
ensure providing controls as well as measurement that will support the organization in
monitoring and reviewing their recommended marketing mix elements (The marketing concept,
2000). Along with this controls and measurement activity also support the organization in
accomplishing their strategic marketing plan within the appropriate time period. The different
controls and measurements include- Critical success factor- It is a control and measurement technique that plays significant
role within the organization as it assists in accomplishing the overall mission and
objective of the company. Furthermore, they are also consider as the key variables within
the Primark that have tremendous impact on Primark that results in meeting their goals
and objectives (The Importance of Marketing for the Success of a Business, 2014). The
identified factor also assist in determining the factor that direct the Primark towards
attaining the specified goals and objectives. Key performance indicator- Another approach of controls and measurement within the
Primark include devising the key performance indicators that depicts how Primark
effectively meeting their stated goals and objectives. Furthermore, setting KPI's will
support the Primark to measure their level of success after reaching to the set targets.
 Marketing metrics- Another control and measurement technique is marketing metrics
that is mainly used by Primark to track and measure the position of business processes (5
Important Concept of Marketing Management Philosophy, n.d). Marketing metrics
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include tracking or following the campaign as well as event statistics to determine that
recommended marketing mix elements has benefited the organization or not.
CONCLUSION
The aforementioned report summarizes that marketing management is a process of
planning, manufacturing, distributing and promoting the goods and services of the company to
their targeted audiences. The process heavily depends upon the coordination of marketing mix
elements that is price, place, promotion and product to achieve the desired output. Furthermore,
from the discussion it has also concluded that audit tool support the organization in measuring
their internal as well as external environment with the help of different tools and techniques.
Moreover, it also support in determining the primary issues and challenges that are faced by the
organization to be success in the competitive retail industry.
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REFERENCES
Books and Journals
De Brentani, U., Kleinschmidt, E. J. and Salomo, S., 2010. Success in global new product
development: impact of strategy and the behavioral environment of the firm. Journal of Product
Innovation Management. 27(2). pp. 143-160.
De Mooij, M., 2013. Global marketing and advertising: Understanding cultural paradoxes. Sage
Publications.
Freeman, S. and et.al., 2010. A model of rapid knowledge development: The smaller born-global
firm. International Business Review. 19(1). pp. 70-84.
Moeller, M. and Harvey, M., 2011. Inpatriate marketing managers: issues associated with
staffing global marketing positions. Journal of international marketing. 19(4). pp. 1-16.
Cravens, K., 2010. Strategic Marketing. 8th ed. Tata McGraw-Hill Education.
Dann, D. and et. al., 2007. Competitive Marketing Strategy. Pearson Education Australia.
Gilbert, D., 2003. Retail Marketing Management. 2nd ed. Pearson Education India.
Hall, D., Jones, R. and Raffo, C., 2007. Business Studies. 3rd ed. Pearson Education India.
Handlechner, M., 2008. Marketing Strategy. GRIN Verlag.
Hastings, H and Saperstein, J., 2007. Improve Your Marketing to Grow Your Business. Wharton
School Publishing.
Kotler, P., 2006. Marketing Management, Analysis, Planning & Control. Prentice Hall, New
Jersey.
Helsen, K., 2014. Global Marketing Management. John Wiley & Sons.
Hollensen, S., 2015. Marketing management: A relationship approach. Pearson Education.
Keegan, K., 2002. Global Marketing Management. Pearson Education India.
Kotler, P and Keller, K.L.,2012. Marketing Management, Prentice-Hall, London.
Liano, K., 2012. A threshold citation analysis in marketing research. European Craig, T, and
Campbell, D., 2012. Organisations and the Business Environment. 2nd ed. Routledge.
Cravens, D., and Piercy, N. F., 2008. Strategic marketing. McGraw-Hill Irwin.
Saxena, R., 2010. Marketing Management 4E. Tata McGraw-Hill Education.
Whitwell, G., 2001. International Marketing Research. International Marketing Review. 18(6).
pp.717 – 720.
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Williams, J., 2012. Marketing Management in Practice. Routledge.
Online
5 Important Concept of Marketing Management Philosophy. n.d. [Online]. Available through:
<http://www.yourarticlelibrary.com/marketing/5-important-concept-of-marketing-management-
philosophy/1076//>. [Accessed on 28th July 2016].
The Importance of Marketing for the Success of a Business. 2014. [Online]. Available through:
<http://www.liftoffinitiative.net/2014/02/17/the-importance-of-marketing-for-the-success-of-a-
business//>. [Accessed on 28th July 2016].
THE MARKETING CONCEPT. 2000. [Online]. Available through:
<http://www2.nau.edu/~rgm/ha400/class/professional/concept/Article-Mkt-Con.html/>.
[Accessed on 28th July 2016].
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APPENDIX
Segmentation, targeting and positioning
Segmentation The segmentation criteria for the Primark is that it basically focuses on
the demographic segment on the basis of age group that is 16-30
years. As, individual or youth primarily focuses on purchasing the
stylish and fashionable cloths provided by the Primark.
Targeting Another approach is targeting , it has been analysed that target group
for Primark are those individuals are fashion conscious.
Positioning On the other hand, for positioning in the competitive market Primark
often use affordable pricing strategy by selecting reasonable prices for
their latest fashionable items and clothing.
PESTLE analysis
Factors-
Political The political factor are framed by the government that mainly affect the
business activities of Primark retailer. For instance; government impose
laws as well as regulation related with employee health and safety that
must be abide by Primark to ensure proper safety of their employees.
Economical Another factor is economical factor that is change within the economy that
is with the economic growth individual will purchase fashionable cloths
that are offered by the Primark.
Social Social factor also affect the Primark activities as with the change in trends
as well as preferences of the customers retailer must change their products
to meet their expectation level. Furthermore, change within the cultural
tendency of individual will also impact their demand of fashionable
products in the market.
Technological Technological factor also positively impact the business activities of
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Primark among their rival companies. For instance, with the up gradation
of the technological factor Primark can easily focus on online shopping for
attracting the large customers across the national boundaries.
Legal Another factor is legal factor that also impact the activities of organization
as now a days there are organization are engaged in unfair and legal issues
related with child labour or unethical trade activities. Therefore, legal
factor plays significant role within the Primark as it avoid these illegal as
well as unethical activities.
Environmental Lastly, environmental factor also need to be taken into the consideration so
that retailer can avoid the sustainability issues through avoiding the use of
plastic bags and focuses on paper bag for their products.
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