Analysis of Primark's Marketing Strategies in Romania: 7Ps and IMC

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This report provides an analysis of Primark's marketing strategies, specifically focusing on its adaptation and standardization of the marketing mix in the Romanian market. It examines the 7Ps of the marketing mix (Product, Price, Place, Promotion, Process, Physical Evidence, and People) and how Primark applies them to satisfy customer needs and achieve profitability. The report also delves into Primark's customer-based brand equity model, outlining its four key steps: brand identity, brand meaning, brand response, and brand resonance. Furthermore, it explores Primark's integrated marketing communications (IMC) approach, including advertising, public relations, and social media strategies. Finally, the report discusses methods for measuring marketing success, such as return on investment, company incremental sales, and brand awareness. The report is supported by several academic references.
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Strategic Marketing
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Adaptation and standardisation of marketing mix
Marketing Mix
In this modern world, the role of Primark
company is to sell products with the interest
in long term with the strategy of marketing
mix.
Their focus is to adapt and standardised this
mix elements which leads to higher
performance level of the company in
Romania.
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Marketing Mix 7Ps Primark, Romania
Product Primark adapts this marketing mix strategy as their
products are in more demand. In order to satisfy needs of
customer's, this element is helpful in identifying the taste
of Romania's people.
Price This is also necessary element which shows the
profitability and status of the company. This component
affects in Romania as they provide products of various
ranges in the market. Moreover, it helps in future to
cover the huge amount by keeping the price as priority
factor.
Place Primark has the overall stores more than 188 in UK and
also widely spread in other countries.
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Marketing Mix 7Ps Primark, Romania
Promotion By promoting the product more people will get aware of
the home and beauty products. Moreover, footwear and
accessories will also be promoted wisely through
advertisement on social media or on television..
Process According to this element, it helps in repeating the
customer's for their products and services. Additionally,
employee's delivers their services effectively in the market
which satisfy consumers.
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Marketing Mix 7Ps Primark, Romania
Physical Evidence In this process of delivering goods on time to customer's is
very crucial as it helps in increasing the demand for their
luxurious goods. This is adapted as this helps in distributing
the services on time which additionally lighten up the
business profit..
People This component helps in providing products and services
deliberately in the market to Romania people. However, it
helps in knowing the presence of the Primark products in
different countries.
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Customer Based Brand
Equity model
This concept is also known as
Keller's Brand Equity Model which
helps in building Primark brand
more strong and successful in the
market. In addition to this, it includes
mainly four steps in constructing
high status of this company.
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CONTINUE…
Step-1. Brand identity (Who are you.?)
Primark company has it's own brand and it helps in bringing awareness among the people of the
country. This company provides trendy and stylish products which differs from other firms.
Step-2. Brand meaning (What are you.?)
Performance: Primark performs in addition to strategies with long term goals. They offer products
with various prices which includes clothing of children, men's, women's and new born babies.
Imagery: Young people who purchase trendy clothes and Primark also attracts customer's for
purchasing their products. It's value is very trendy and stylish that target young generation.
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CONTINUE…
Step-3. Brand response (What I think or feel.?)
Judgements: of Primark is very high as it satisfies the customer's of UK
Feelings: Primark is highly concerned in increasing their self esteem among the consumer's.
Additionally, the products of this company is unique and different from others.
Step-4. Brand resonance (How much effective connection we have.?)
In resonance, it also involves the behavior of Primark with the society which is very cool and
open. This encourages more people to love it's product and services
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Integrated Marketing Communications:
IMC refers to the comprehensive plan and
value that evaluates the communication
procedure in terms of advertisement,
personal selling, society relations and in
promoting the products and services of
Primark brand.
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CONTINUE…
Advertising: One of the effective method is advertisement used by Primark company in UK.
Moreover, their products are highly advertised on television, radio, hoardings and social
websites.
Public relations: : Primark is expert in carrying public relations that increases the potential of
the company.
Social media: Primark products that is clothing, footwear, home and beauty products are
promoted on different media. This media involves face-book, television, twitter, blog etc on
which the products are highly advertised and promoted amongst the people
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Measuring Marketing Success
There are various methods of measuring
the success of the company in the market
of UK. This measurement is the key to
success for increasing the brand value.
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CONTINUE…
Return on investment: : One of the best method is ROI which helps in measuring the return
value which has been received from their investment. Primark sells the stylish and trendy products
which attracts more customer's that increases income of the company.
Company's incremental sales: In addition to this method, it helps in measuring the efforts made
by management in increasing the sales of their luxurious products and services.
Brand awareness: To measure the marketing success, one of the method is brand awareness
which is implemented by Primark.
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REFERENCES
Aspara, J., Hietanen, J. and Tikkanen, H., 2010. Business model innovation vs
replication: financial performance implications of strategic emphases. Journal of
Strategic Marketing 18(1) pp.39-56.
Finch, D., Nadeau, J. and O’Reilly, N., 2013. The future of marketing education: A
practitioner’s perspective. Journal of Marketing Education 35(1) pp.54-67.
Hollebeek, L., 2011. Exploring customer brand engagement: definition and themes.
Journal of strategic Marketing 19(7) pp.555-573.
Hollensen, S., 2010. Marketing management: A relationship approach. Pearson
Education.
Lee, K. and Carter, S., 2011. Global marketing management. Strategic Direction. 27(1).
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