Primark Marketing Plan: Development, Evaluation, and Analysis

This report provides a comprehensive analysis of Primark's marketing plan, focusing on its development and evaluation. It begins by outlining Primark's objectives, mission, and vision, emphasizing the company's commitment to providing high-quality products at affordable prices while enhancing customer experience and profitability. The report includes a PEST analysis, examining the political, economic, social, and technological factors impacting Primark's operations, such as government policies, economic conditions, consumer trends, and technological advancements. Furthermore, it discusses the 4Ps of the marketing mix—product, price, place, and promotion—detailing Primark's wide range of offerings, competitive pricing strategies, and extensive distribution network. The report also covers financial planning, emphasizing the importance of effective budgeting and resource allocation. The conclusion underscores the critical role of marketing in driving the success and growth of Primark, highlighting its contribution to understanding customer needs and enhancing sales and profitability. The report also briefly touches upon the differences between Primark and Marks and Spencer's marketing mix. Desklib offers similar marketing assignments and study resources for students.

MARKETING
ESSENTIALS

TABLE OF CONTENT
• Introduction
• Marketing plan
• Conclusion
• References

INTRODUCTION
• Marketing is the important process which includes the publicity, sales techniques and advertising. This
process is start after the service or product is design. It is a major tool for the successful business.
Marketing also contained the communicating, creating, exchanging and delivering offers that develop a
value for the customers. Marketing is the essential tool that helps the organization to recognize their
customer's needs and desires and produce the products accordingly.

DEVELOPMENT AND EVALUATION OF A
MARKETING PLAN FOR THE PRIMARK
• Objectives:
• The major of Primark is to offers their customers the good and high quality products at a very
affordable rate. They also generate an effective message to their customers is that, the Primark provide
the product at cheap rate but it doesn't mean they are not maintaining a standard of quality and value
of the product. The company has another aim that to sell their product in a very efficiency and smooth
manner, to provide their customers best experience and more comfort. They also want to offer wide
range of products to their customers.

CONTINUE
• Mission: To increase its sales by 20% till the end of this year.
• To improve customer experience by 30% in the upcoming 6 months.
• Vision: Primark also wants to become a more helpful and friendly towards employees and customers.
• To increase the profitability by 10% till the end of year 2020.

PEST ANALYSIS
• Political factor- The political factors can create a large impact on the organisation's performance and its operations.
They also influence the growth prospects of the Primark. The government policy and political stability of the specified
country can create their impact on the functional activities of the company. Global trade agreements and restrictions
also create positive and negative impact on the Primark.
• Economical factor- Economic factors includes the exchange rate, interest rate and inflation rate that will create their
impact on the sales of Primark. For that reason company needs to decrease its cost for expansion in their market
share.
• Social factor- It includes the consumer trends, fashion, lifestyle and attitudes. The population demographics will affect
the manufacturing and production activities and company should have to work accordingly.
• Technological factor- Competitor's new innovations can influence the organisation's market structure. Primark
company should have to adopt automation and social networking techniques to enhance their customer base and
provide then a huge satisfaction. Primark should have to upgrade their techniques time to time for achieving the
competitive advantages.

4 PS
• Product- Primark offers wide of products to the customers. Primark offers numerous products such as
children wear, home wear, menswear, women's wear, accessories, beauty products, footwear and
confectionery.
• Price- Price is a main factor to influence the customer for purchase specified product or not. The
reduced price of the products may encourage huge customers from the marketplace. It will improve the
customer experience and provides them a great satisfaction.
• Place- Primark offers their products in more than 372 stores all over the world. They offer their products
at various platforms such as retail market, internet, wholesale, mail order, direct sale, peer to peer and
distribution channel.

FINANCIAL PLANNING
• Financial planning:
• Primark should have to maintain their budget list in a very effective manner. The company
should have to divide their budget amount proportionately such as 25% in Raw material, 30% in Direct
cost, 30% in overhead and 20% in marketing cost. Primark must have to conducted the financial
management system in their organisation.

CONCLUSION
• From the above study, it can be concluded that marketing plays a major role in the success and growth
of the company. It assists the company to identifying the customers needs and desires and then
manufacturing a product accordingly. This also helps in enhancing the sales and profit of the Primark
company. Marketing is connected with all functional departments of an organization. The report also
highlights the differences between 7P's of marketing mix of Primark and Marks and Spencer in order to
recognize the effective growth objectives of the company. Marketing mix is very helpful for the Primark
to achieve their objectives without any errors and issues.