Report: Principles and Practices of Marketing - Primark's Strategies

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This report provides a comprehensive analysis of Primark's marketing principles and practices, focusing on its promotional mix policies and overall strategies. It examines various aspects of consumer marketing, including market research, segmentation, and targeting. The report delves into the information required for effective promotional mix policies, covering customer-facing touchpoints like stores and offices, external spaces such as billboards, and digital platforms like websites and social media. It also explores Primark's background, marketing strategies, including advertising, promotion, and public relations, and its approach to product differentiation and customer loyalty. The report concludes with a discussion of the theoretical aspects of the promotional mix strategy, providing a thorough overview of Primark's marketing efforts.
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Principles and
Practices of marketing
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Information required to be considered for practical promotion mix policies to be adopted by
the organisation............................................................................................................................3
Background of the marketing strategies of the company............................................................7
Theoretical aspects of promotional mix strategy of the organisation..........................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
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INTRODUCTION
Marketing principles and practices are various aspects with the help of which various areas
of consumer marketing can be analysed. In this various activities are included such as market
research, situational analysis, strategy of segmentation, targeting, various situational activities,
development of various marketing strategies and many more (Alexandrova, 2018). Some basic
principles of marketing are to be taken into consideration such as product, price, place,
promotion so that better strategies can be formulated. With the help of various promotional
mixes the efficiencies can be improved as with this the customers can easily be attracted towards
the business by making them aware of their offerings. Marketing principles and the practices
provides the guidelines and a path which an organisation follows. In marketing various functions
must be considered such as setting up the prices of a wide variety of the products, promotional
channels, product management, financial budget etc. These strategies enable businesses to ensure
the sustainability and profitability for the longer term. In this report the organisation that is taken
into consideration is Primark, which is retailing company that offers fashionable clothes to the
customers. This report includes various promotional mix policies of the company, various
marketing strategies that are adopted by the company along with various theoretical aspects of
the promotional mix.
MAIN BODY
Information required to be considered for practical promotion mix policies to be adopted by the
organisation
Promotional mix is the strategy that is being adopted by the organisation for creating
awareness of their products or services. The organisations use different methods or tactics for
promoting their offerings so that the customers get to know about them and their benefits.
Efficiency in such strategies enables the business to ensure growth and success of the business.
With the help of various promotional mix, the companies can attract a large number of customers
(Bakir,and et. al., 2019). Along with this the loyalty among the customers can also be developed
for the products and services. Such promotional mix facilitates to persuade the customers with
the help of various offers so made by the company. Various methods are combined altogether to
enhance the growth by persuading more customers. Different promotional activities that can be
used by the organisation are given below:
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At customer facing touch points: These are the methods with the help of which the
organisations aim to attract the customers by directly touching their mindset. The customers are
compelled to purchase the things by showing them the same. The view points of customers also
matters as they define the time for which the product will be in their mind. For the organisation it
is important to design such strategy that can be more reflective so that its impact can stay for a
longer period of time in the minds of the customers. Also the focus must be on some strategy
with which they can relate with the customers (Denny, 2018). With the help of this Primark can
efficiently take advantage as with this they can make their customers aware and loyal towards
their offerings. The customers facing touchpoints will enable them in engaging their customers
with their products and services. Some of such activities include:
Stores: The stores are the areas from where the companies offer their products and
services directly to the customers. The stores of an organisation vary in terms of their size,
appearance and many other factors. All these factors are dependent on the nature of the product
which is being offered by them. Different promotional activities are adopted by the Primark so
that the business can effectively grab the attention of the customers. They can use various
posters, post on the walls of the stores etc. for making their customers aware of wide variety of
options that they provide. Uniqueness of the posters and the pamphlets can attract the customers
significantly. Primark can use different type of posters such as formative in which detailed
description and information must be taken into consideration. While in the normal posters only
the attractions are displayed by the organisation. The posters only give the basic information
about the offers and they only aims to attract the customers. Rest the customers will get to know
everything about them on their visit due to which they need to focus upon various other
strategies that can enable them in making them purchase their products (Guidolin, Guseo and
Mortarino, 2019).
TV bulletins can also be used by Primark as their promotional strategy as with the help of
this they can make attractive videos that can attract the customers effectively. The videos have
more capabilities of attracting the customers as they deliver the messages in a creative manner.
This brings long lasting impact on the customers due to which they can make their customers
consistently aware about their products and remember the brand for longer period of time.
Various innovative video can also be developed by them for all of their products that include a
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wide variety of fashionable and diversified food products etc. With the help of this they can
increase the demands of their products as they can easily attract more of customers from this.
Offices: The company can uses their offices efficiently for promoting their products as
by establishing offices at different location they can ensure the time delivery of the products and
services. Primark has their offices in different location from where they allocate their products to
the suppliers and the distributors. It is the area from where the company manages all their
operations with the aim of managing the workplace environment, capabilities of the businesses
etc. Primark with the help of various banners in the office premises can attract the people who
visit to their office (Homburg,Jozić and Kuehnl, 2017).
Reception areas: This is the area where the person meet with the company as they come
in connect directly with the person just after they enters the premises. For ensuring first
impressions as better impression of the customer, the company such as Primark must make their
people capable enough of dealing with the queries of the customers. For this they must be
provided with significant information about the organisation and their offerings.
In external spaces: The external place is the area which is located outside the premises
of the office of the company. Such space can be used by the business fro organising various
promotional activities. With this they can make effectively increase their revenues by attracting
more and more of the customers. For this various ways can be used by the Primark that are
given below:
Billboards: With the help of billboards various activities are displayed by the
organisation that enables them in advertising their products and services. This will enable the
Primark in improving their brand image and this will make people about their products and
services. Creativity can be introduced in highlighting the benefits from their products to the
customers. They can use their logo and the designers, fashionable clothes on the boards which
must be simple to understand but creative to attract (Luiz and et. Al., 2019).
Transit advertisement: These are the advertisement which is displayed on the
transportation such as trains, buses and the local transport. Even they are on the public
transportation places such as railway station, airports etc. Such advertisement are static as they
cannot be changed so very frequently as other can be.
Retail advertisement: Retail advertisement is those which are displayed in various
locations such as in the malls, stores, shopping centres etc. Such advertisement will be beneficial
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for the Primark as with this they can target a large number of people and those who visit to such
places with the motive of shopping. So it will become easy for them to attract customers by
compelling them to visit to their stores as well.
Via digital platforms: Digital marketing nowadays is one of the most important
platforms for the organisation for promoting their products and services. With the use of internet
and various electronic devices brands and products are promoted by the organisations. For this
various online based technology is being used over internet as this increases the size of the
market coverage. Various digital platforms that can be used by Primark for promoting their
products include:
Websites: The companies display all of the products and services along with detailed
information about them on their websites. These websites are accessible to all which enables the
customer to get to know about all of their offerings along with the company. Primark has their
website as primark.com that contains all the relatable content. Such websites facilitate the
customers to gather all the information directly from one place instead of searching different
pages for different products (Middleton, 2019).
Social media: Social media is the platform that connects people through various
applications where they can share their beliefs, opinions etc. by participating in the activities or
by posting on their own. Such platforms has become the sources of gathering information due to
which it becomes important sources that can facilitate attracting more and more of customers.
Primark has developed their pages on various social media platform that enables them to connect
with the customers easily as they can determine the factors that influence the changes that are
taking place. Youth frequently uses multiple platforms this will make Primark capable enough to
attract for them for their fashionable products.
Through Third parties: Third parties are the mediators between the customers and the
company that enables the companies to gather information about the customers. With the help of
various mediator’s companies publish their reports which are read by the customers. This makes
them aware of various offerings of the company. Various such mediators that are used by the
Primark are given below:
News articles: They are published data that includes information about the offers that the
company provides for the customers. In these articles all the recent news about the company and
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their related products are made available. This makes the company able to improve their image
so that they can increase their market share and profitability.
Analyst report: These are the report which is prepared by the researcher which includes various
recommendations, ideas, benefits and precautions that must be taken for the particular products
or services. Such reports make the companies able to improve their image as by this they let their
customers now about everything (Miles and et. al., 2015).
Background of the marketing strategies of the company
Primark is one of the fastest growing fashion company that was founded in June 1969 in
Dublin, Ireland. Arthur Ryan took initiative for establishing this company. The company focuses
upon various competitive marketing strategies that can help them in maintaining their market
share and increasing the number of customers. Various such strategies include advertising,
promotion, PR etc. Primark has a wide variety of offering which make their portfolio wide and
extensive. They work with the mission of improving the lifestyle of the people with better quality
and fashionable products that can improve the living standard. This enables them to take
competitive advantage over others as with improved customer satisfaction their loyalty also
increases. The strategy of low priced product in a large quantity has remarkable impact on the
stakeholders of Primark.
The targeting marketing approach is being used by Primark with the aim of achieving the
maximisation in sales. They focus upon creating differentiation among the products that they
offer to the market (Purvis, 2015). It will enable them in maintaining the sustainability of the
market and gaining competitive advantage by utilising the capabilities of the companies. For the
organisation it is important to link their attributes with that of the customers so that the customer
loyalty can be ensured. It will offer Primark various opportunities to expand their business
efficiently. Strategy of targeting market has been classified into three parts which are given
below:
ï‚· Targeting: The targeting depends upon the marketing plan of the company so formulated
by them. In this the entire target market is divided into various segments that can be
efficiently measured and are profitable for the organisation. The target market of Primark
is based upon the gender, lifestyle of the customers, their level of income, age group and
social status. They offer a wide variety of products which are designed for catering the
needs and wants of the specific market.
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ï‚· Segmentation: This is the strategy in which the market is divided in different groups on
the basis of similar in the people in a group. For this characteristics of each segments
need to be identified so that the most profitable is identified and strategies can be
formulated accordingly. It also facilitates the organisation to understand the viability of
the option. With the help of this strategy the managers in Primark can identify various
opportunities that they can avail. They are famous for their fashion clothes so they must
focus upon in the same industry so that the chances of becoming successful increases.
Primark focuses on the demographic factors of the customers while segmenting the target
market.
ï‚· Positioning: This is a strategy with the help of which organisations formulate various
plans with the help of which image of the offerings of the organisation can be improved
in the eyes of the customers. With the help of brand positioning value of the brand can be
increased. This will make them efficient enough in making the customers satisfied and
loyal towards the products of Primark (Rane, And et. al., 2019).
Product marketing approach is also use by the Primark as it facilitates them to create
differentiation among their designs and to attract a large number of customers. This strategy will
facilitate them in gaining competitive advantage and success.
Theoretical aspects of promotional mix strategy of the organisation
There are various theories that can be used by the organisation such as Primark for
evaluation various promotional mix strategies. With the help of these models and theories the
productivity and profitability of the organisation can be increased. Various theories that can be
used by Primark for increasing their effectiveness are:
AIDA MODEL: AIDA stands for attention, interest, desire and action. This model is
efficiently be used by the marketing department of the organisations. The customers get to know
about the products and services of the company from the advertisements and AIDA model
facilitate them to persuade the customers for making purchases of their offerings. With the help
of this model the customers are motivated to take right decisions as per their taste and preference
by closing analysing the benefits of offerings. The customers with the help of various stages of
AIDA can make effective purchases of the clothes so offered by Primark (The AIDA model,
2019)
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Awareness: This is the factor with the help of which awareness among the customers can be
created about the products and services that the company offers.
Interest: With the help of this factor the interest can be created among the customers by
encouraging them for making purchases. This can be done by making the customers know about
the benefits to the customers.
Desire: This factor of the model facilitate in developing an emotional connection with the
customers. In this stage the customers are persuaded to make purchases if their interest is
aroused. For this the company advertises their product so that the desire for making purchase can
arise (Sifonios, 2018).
Action: In this the buyer is attracted for making purchases and for this interaction is must
with the customers. For this the company generally engage the customers through live chats,
making phone calls etc.
This model can efficiently be used by the Primark as with this they can let their customers
know more accurately about them and their offerings. It will enable them to connect with more
and more customers which will enable them in expanding their business. It is because they can
approach to the customers and can persuade them for making purchases by letting them know the
benefits of their products. With this the customer base of the company can be improved which
will ultimately facilitate them to make purchases.
PUSH AND PULL STRATEGIES: This is the strategy which is generally being used by the
supply chain and logistic department but sometimes it is used by the marketing department as
well. This can be used for promoting the products and services of the company. Push strategy is
the one in which the marketer pushes their product in the target market by creating awareness
among the customers through various promotional activities. While the pull strategy suggests
that the consumer approaches to the company for making purchases (Push and pull marketing
strategies. 2017).
These strategies enable the organisation in creating awareness among the customers about
the offerings of the organisation. This will make the customers loyal towards them as they
become so open with them. Primark focuses upon push strategy as with this they make their
customer know about their fashionable clothes through various advertising mediums. But
sometimes they even consider pull strategy for some products. For this they consider various
requirements of the customers and accordingly provide the goods and services.
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Both the strategies of PULL and PUSH along with AIDA model can facilitate Primark in
achieving the efficiency and in achieving their objectives as with this the acceptability of their
products can be increased among the customers.
CONCLUSION
It is concluded from the above report that various marketing strategies are adopted by the
organisation with the motive of taking competitive advantage and ensuring profitability. With the
help of various promotional mix strategies, the customer loyal can be increased by making them
more aware of various offerings. Apart from this various strategy such as product development
strategies, targeting and segmentation strategies and many more must be taken into
consideration. This ensures long term sustainability of the businesses.
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REFERENCES
Books and Journals
Alexandrova, M., 2018. A principal component analysis of project portfolio management
practices. Ekonomicko-manazerske spektrum. 12(2). pp.96-105.
Bakir, V. and et. al., 2019. Organized Persuasive Communication: A new conceptual framework
for research on public relations, propaganda and promotional culture. Critical
Sociology. 45(3). pp.311-328.
Denny, D., 2018. Human rights and market access. Revista de Direito Internacional, ISSN,
pp.2237-1036.
Guidolin, M., Guseo, R. and Mortarino, C., 2019. Regular and promotional sales in new product
life cycles: Competition and forecasting. Computers & Industrial Engineering. 130.
pp.250-257.
Homburg, C., Jozić, D. and Kuehnl, C., 2017. Customer experience management: toward
implementing an evolving marketing concept. Journal of the Academy of Marketing
Science .45(3). pp.377-401.
Luiz, O.R. And et. Al ., 2019. Impact of critical chain project management and product portfolio
management on new product development performance. Journal of Business &
Industrial Marketing.
Middleton, H., 2019. How to build your professional portfolio (and why you should). Acute pain.
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Miles, M. and et. al., 2015. Exploring entrepreneurial marketing. Journal of Strategic
Marketing .23(2). pp.94-111.
Purvis, J., 2015. Human resources marketing and recruiting: Essentials of digital recruiting.
Handbook of Human Resources Management, pp.1-19.
Rane, S.B. And et. al., 2019. Developing strategies to improve agility in the project procurement
management (PPM) process. Business Process Management Journal.
Sifonios, D., 2018. Market Failures, Cooperation Failures and the Management of Resources of
Common Interest. In Environmental Process and Production Methods (PPMs) in WTO
Law (pp. 17-37). Springer, Cham.
ONLINE
The AIDA model. 2019. [Online] Available through: <https://www.smartinsights.com/traffic-
building-strategy/offer-and-message-development/aida-model/>.
Push and pull marketing strategies. 2017. [Online] Available through:
<https://www.leadbi.com/push-pull-marketing-strategies-what-they-mean/>.
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