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Marketing Planning in Primark : Essay

   

Added on  2020-01-15

9 Pages2675 Words248 Views
Marketing Planning

TABLE OF CONTENTSIntroduction..........................................................................................................................................3Task 1: Essay .......................................................................................................................................3Task 2: PPT...........................................................................................................................................5Task 3: Marketing Plan ........................................................................................................................5Executive Summary....................................................................................................................5Role of Marketing Plan in Corporate Strategy............................................................................5Techniques for New Product Development ...............................................................................5Product Description.....................................................................................................................5Pricing Strategy ..........................................................................................................................6Distribution Strategy...................................................................................................................6Promotion and Communication Strategy ...................................................................................6Implementation ..........................................................................................................................6Ethical consideration ..................................................................................................................7Time scale:..................................................................................................................................7Conclusion............................................................................................................................................7References............................................................................................................................................8

INTRODUCTIONPrimark was established in 1969 in Ireland. It is a widely acclaimed fashion brand thatprovides low cost predicts to the customers. It is known to sell fashionable attires on low budget.The research conducts marketing audit on for Primark. Audit refers to examining the environment,planning and strategising of the marketing strategies (Zakaria and Rahman, 2014). It is done as ithelps an organization in understanding its problem areas and the opportunities that it can achieve.The first task of the research studies carries an evaluation of the human resource and financialprospects of the company. Apart from these barriers and marketing plan is created for theorganisation. Primark wants to expand itself in Dubai it requires creating a new marketing planTASK 1: ESSAY Primark is a well known retail clothing brand which manufactures fashion apparel tocustomers of UK, Spain and Ireland. The retailer designs products for the children, teenagers,women and men who look for low priced fashion apparel. Initially the company started its businessin Ireland and later on it moved to different markets of UK and Spain. Primark in order to achievehigher profitability, opened more number of stores in the target markets. In order to reviewtraditional as well as future marketing approach of Primark following passages can be referred:From the given case study it can be inferred that marketing concept of Primark is simple yetsolid. The company targets price sensitive consumers who look for better fashion clothing atreasonable costs. The consumer segment include new born babies, children, women and men. Theretailer is successful in the target markets as it provides apparel with simple designs but in popularsizes (Kennedy, 2013). The pricing strategy of the company is also effective. The prices of theproducts are low which meets the needs of budget concious people. In addition to this, the suppliersof the company provide raw materials to Primark which is an added advantage to the company inmanufacturing apparels in cost effective manner. Besides this, Primark does not invest heavily inpromotional tools to attract large masses. However, in order to analyse that traditional marketing approach need to be replaced withmodern marketing approach to beat competition and to gain greater profitability. It has beenobserved in the given case study that the sales of the company were recorded low due to theineffective marketing efforts. The retailer need to develop human, financial and physical capabilitiesin order to achieve marketing objectives (Fahy and Jobber, 2012). Human capabilities refers to theskills and knowledge posses by company's human resources. To develop and implement effectivemarketing strategies to meet business objectives of the company. The financial abilities of thecompany refer to capital and other investing options which is required to expand its operations inother potential markets. SWOT Analysis of Primark

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