Principle and Practice of Marketing With Reference to Primark

Running Head: PRINCIPLE AND PRACTICE OF MARKETING
1
Principle and Practice of Marketing With Reference
to Primark
(Student Details)

PRINCIPLE AND PRACTICE OF MARKETING 2
Executive Summary
The report is about the marketing strategies implemented by a fashion retailer. Primark is the
selected brand who is doing well in the retail sector by applying unique pricing strategies and
marketing tactics. The report clearly defines the pricing strategies of Primark, its target
customers and stores information. With this study we can develop how pricing strategies are
implemented in situational cases. Primark has a unique strategy of offering basic collection in a
lower price than that of its competitors; it bears the cost by saving more in warehousing,
transportation and marketing department.
It spends every little in marketing and put all its attention in driving the customers to the store
through pricing policies. The report highlights how Primark applies marketing theories, such as,
psychological pricing strategy and loss leaders pricing strategy to increase sale and accomplish
its desired objective.

PRINCIPLE AND PRACTICE OF MARKETING 3
Contents
Task one........................................................................................................................ 4
Introduction................................................................................................................ 4
Primark’s Marketing Strategy.......................................................................................... 4
Pricing Strategies of Primark.............................................................................................. 6
 Cost leadership strategy........................................................................................ 7
 Primark’s situational pricing strategy........................................................................7
 Online pricing strategy.......................................................................................... 8
 Expansion pricing strategy..................................................................................... 8
 Target Marketing Approach for determining the price of the product.................................8
Marketing Skills used by Primark to increase sales................................................................9
Part two....................................................................................................................... 11
Marketing theories...................................................................................................... 11
 Psychological Pricing Theory............................................................................... 11
 Loss Leaders Pricing Theory................................................................................ 13
Conclusion................................................................................................................... 15
References................................................................................................................... 16