Principles and Practice of Marketing: A Case Study of Primark's Expansion into Romania

This presentation explores the principles and practice of marketing through a case study of Primark's expansion into Romania. It covers the SOSTAC planning model, strategies, tactics, and adaption techniques used by the company to ensure success in the new market. The presentation also discusses the importance of marketing in promoting and advertising products and services to attract more customers and earn significant profits.

Principle and practice of
marketing

Table of content
• Introduction
• Main Body
• Conclusion

Introduction
• Marketing is an important business function as it helps in promoting and advertising
the products and services. Main aim of marketing is to attract more and more
customers so that the company can earn significant amount of profit. ). In present
context, Primark is taken into consideration. It is a well clothing retailer based on
United States of America. It has presence at different locations like UK, Spain,
Germany, France, Italy and more. Now, they are planning to open shops at Romina to
grow the business in international market. The report will cover analysis of the
market environment based to ensure significant growth of the company in future.

• SOSTAC is a planning model that was developed in
1990s to assist the marketers in marketing planning.
(Bausch and Unseld, 2018). Here, SOSTAC stands
for:
• S-Situation: where is business now?
• O-Objective: Where the entity aims to be in future?
• S- Strategy: How the entity will achieve aim?
• T-Tactics: The way to exactly reach at ultimate
goal.
• A-Action: Action plan for future
• C-Control: The way to monitor the progress.

Cont….
• Strategies are considered as the crucial part of every organization. It includes ample of
plans that are prepared to attain final goal of the company. In present situation, Primark
aims to expand the business internationally. Here, they will prepare suitable strategies for
this purpose. In this regard, they will make plans so that they can ensure success in new
environment within Romania.
• Tactics: Tactics are one of the crucial elements of the respective model. Basically,
Tactics are the small plans to fulfill the strategic goal of the organization (Sinha and
Sheth, 2018). In present scenario, Primark is going to expand at Romina. Here, they need
to adopt significant tactics so that they can grow in future.

CONT…
• Adaption: While working within international environment, it is important either to
keep the products standardized to maintain unique brand identity or adapt the culture of
the respective company (Hunt and Madhavaram, 2020). In context of Primark, they have
chose adaption strategy where they will make necessary modification in products,
pricing strategies, ways of promoting products and more as per the environment of
Romania. The people of Romania are ethnic and religious. They are really attaches to
their culture and religion.

CONT..
• Here, Adaption will allow the organization to
make necessary adjustments in their practices
to stay relevant for the country. Further, it will
also help the entity in terms of attracting
residents of the respective nation. It can be
understood through different elements of
marketing mix, which are given as under:
• Product:
• Price:
• Place:
• Promotion:

CONCLUSION
• Out of the above-information, it is analyzed that Primark can easily
expand business at Romania by following adaption strategy where
they will make changes in products and other components of
marketing mix based on the business environment of the country.

References
• Borowski, P.F., 2020. New technologies and innovative solutions in the
development strategies of energy enterprises. HighTech and
innovation Journal, 1(2), pp.39-58.
• Bausch, T. and Unseld, C., 2018. Winter tourism in Germany is much
more than skiing! Consumer motives and implications to Alpine
destination marketing. journal of Vacation Marketing, 24(3), pp.203-
217.
• Sinha, M. and Sheth, J., 2018. Growing the pie in emerging markets:
Marketing strategies for increasing the ratio of non-users to
users. Journal of Business Research, 86, pp.217-224.
• Hunt, S.D. and Madhavaram, S., 2020. Adaptive marketing
capabilities, dynamic capabilities, and renewal competences: The