Strategic Marketing Planning for Primark: Impact of Brexit and Covid-19 on Retail Industry

Strategic Marketing Planning

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Impact of Brexit and Covid -19 on retail industry.......................................................................1
Organization structure discussion................................................................................................2
Environmental analysis importance.............................................................................................3
Pestel analysis after Brexit and Covid-19....................................................................................4
Marketing objectives....................................................................................................................6
Selection of marketing strategy for the company........................................................................7
STP strategy implication for global expansion............................................................................8
Explanation of 7 P's in the current situation................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Strategic marketing plan is setting up of goals of the organization which it implements for
its marketing. It includes planning of audit, researching and analysation of research which
includes budget and specific and marketing strategies. With the help of strategic marketing plans
the success of the business is contributed. In this project the selected company of retail industry
is Primark. This project will talk about the impacts of the Brexit and Covid 19 on the retail
industry of UK. This project provides discussion on the organizational structure of this company.
With the help of this project the environmental analysis of Primark which discusses the
importance of environment on the strategic marketing plan. Utilization of Pestel analysis helps in
understanding the affects of external factors on the company after Brexit and Covid 19. In this
project the marketing objectives of Primark is understood. This project also helps in
understanding the STP strategy of the company and how it uses it in its expansion. This project
also discusses the 7 P's of in the current situation of the business environment.
MAIN BODY
Impact of Brexit and Covid -19 on retail industry
The conclusion of Brexit and the effects of Covid-19 may instigate some huge losses to
the UK’s retail industry. Due to the pandemic, the people prefer online shopping in respect to
actually go to the shops and buying groceries. The retail stores of the UK have to develop some
innovative ideas in order to survive. Post the Brexit, the country is now in at a new beginning
and this could be riskier for the retail owners of the country. In order to maintain their position in
the market retail owners need to adopt certain new technologies and innovative creations. Some
companies have gone online and providing their customers with better services but all this could
not be enough as the changes in the country will eventually affect the industry. The Brexit
resulted in the rise of the costs of the retailer which landed a huge blow to them cutting their
profit margins severely. The retailers have to maintain their profits at high costs which is a
difficult task (García-Posada, 2020).
The retail stores face wide, empty aisles as all the customers are prioritizing their health
and shopping online. A delivery to your door step reduces the chance of spreading the virus but it
also effects the local retailers in the country. The items in display are starting to vanish from the
shelves as the companies are adopting direct to the consumer approach. The high costs result in
high prices of the products and the comparisons of going to the supermarket rather than just
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shopping online from the comfort of their homes is extraordinary. Retailers could offer some
weekly fixed slots for the customers, hence creating a safe space and retaining the trust and
loyalty among the customers. Customer safety should be prioritized and provide some health
protection benefits. The Brexit may not have the negatives of impact, the impact may cause the
introduction of new local businesses as the European supply chains will be now less in the
market. The retailers and the consumer goods companies need to revise their contracts and start a
new system, providing goods in bulk decreasing the costs and ultimately the prices. The retailers
are facing certain challenges and must adapt with the upcoming future. Impact of Brexit and
Covid19 has bought the country to a new beginning where the retailers have to mumble through
their way in order to maintain their position in the market (Gorrell, Farrell and Bontcheva, 2020).
Organization structure discussion
The organizational structure of Primark is the approach that shows the procedure which
will be executed to attain its organizational goals. This structure may include certain roles, rules
and responsibilities. The organizational structure of a company also clarifies the process of how
the information flows within the organization. A healthy and flexible structure provides the
organization with great efficiency and effectiveness. All businesses of all types use certain types
of organizational structures in order to maintain a certain hierarchy in the organization. The
organizational structure defines each employees position in the company and the involvement of
the employees in the company (Sharma and et.al., 2019). A visual representation is provided by
the structure of the company’s hierarchy and how it can attain the desired goals of the company.
Not having a proper organizational structure may result in miscommunications and ultimately
reflect on the Primark's performance.
An organizational structure may be divided in two major streams, either centralized or
decentralized. Most organizations till date have been experiencing centralized form of
organizational structure. A centralized structure describes a sequence of command. A
decentralized organizational structure provides significance to almost every employee of the
organization. Decentralized structure of organization has gained popularity with the introduction
of the many technological start-ups. This provides the company with great agility and adaptable
amongst the operations of the employees. In some decentralized structure some built in
hierarchies can also be seen (Beser Ramada, 2021).
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