Primark Marketing Analysis: SWOT, STP Strategy & Marketing Mix (4Ps)

Verified

Added on  2023/06/09

|15
|4063
|405
Report
AI Summary
This report provides a comprehensive analysis of Primark's marketing strategy, utilizing the SWOT, STP, and 4Ps frameworks. The SWOT analysis identifies internal strengths and weaknesses, as well as external opportunities and threats, impacting Primark's competitive position. The STP model examines the company's segmentation, targeting, and positioning strategies, focusing on reaching specific customer groups with tailored offerings. Furthermore, the report delves into the 4Ps of the marketing mix—product, price, place, and promotion—evaluating how Primark leverages these elements to achieve its marketing objectives and enhance organizational performance. The study concludes with strategic recommendations for Primark based on the environmental analysis, including adapting to changing customer behavior, embracing technological advancements, and managing supply chain vulnerabilities. Desklib offers a range of similar solved assignments and study resources for students.
Document Page
MARKETING
CONSULTANCY
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
EXECUTIVE SUMMARY.
This study has highlighted the environmental analysis concept, which drives the attention
of Primark, toward determining key factors, either internal or external, of purpose of analysing
the impact of each external and internal factor. The utilization of strategic STP model has
enabled organization to target people, as customer and gain their attention by developing the best
marketing strategy. Furthermore, from this report it has determined that the implication of each
marketing mix element, has contributed to increase the organizational performance and
profitability level.
Document Page
Table of Contents
INTRODUCTION...........................................................................................................................4
TASK ..............................................................................................................................................4
SWOT analysis to determine the opportunities and threats that impact or may affect Primark..4
Analysing their STP strategy, providing and insight into how segmentation, targeting and
positioning are recently applied by the company........................................................................6
Examining marketing mix, focusing on 4ps................................................................................8
Recommendations........................................................................................................................9
CONCLUSION..............................................................................................................................11
REFERENCES................................................................................................................................1
Document Page
INTRODUCTION
Marketing is considered as one of those effective sources that utilized in the context of
businesses promotion, in term of using varied technologies and systems that help to generate
excellent brand awareness in the market (Renier, Dalakas and Melancon, 2021). This source
plays significant role in regard to growth and success of companies, either it is small or large.
The current assignment will be based on Primark, which falls under the category of leading
fashion brands in the UK. Organization is well-known for providing clothes and accessories, to
men's women's and children's, with clear aim of enhancing their satisfaction level. The study will
explain SWOT, STP and 4ps of marketing mix implication in the context of chosen fashion
brand, that exist in the United Kingdom and expand its ventures across national boundary.
Lastly, the report will justify the strategic suggestions for organization on the basis of overall
environmental analysis.
TASK
SWOT analysis to determine the opportunities and threats that impact or may affect Primark.
For purpose of determining the threats and opportunities, SWOT analysis model is
utilized in the context of varied organizations, that are operating their ventures within a specific
industry or market appropriately (Almutairi and et.al., 2022). In case of Primark, the same model
is applied, which allow management to collect relevant information related to each threat and
opportunity that enable them to grow venture. The chosen strategic framework is useful because
of varied reasons. As it may contribute to specify which opportunity an organization may grab
and which threat it essential for it to take into consideration. By applying SWOT analysis
concept, Primark may obtain a lot of benefits such in term of identifying the likelihood of threats
and weaknesses that may affect its existing business growth and success chances. In the chosen
company context, this framework is applied below in table format to specify each element and
these are;
Strengths-
Skilled workforce- It is one of the biggest
strengths of Primark, that enable organization
to gain competitive advantages in bulk
(Strength, Weakness, Opportunity, and Threat
(SWOT) Analysis, 2021). With skilled and
Weaknesses-
Poor motivation- it is one of those weaknesses
that may put negative impact on organization
progress, in form of decreasing productivity
and operational efficiency.
Lack of online existence- Without having any
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
experienced workforce, it may able to reach
desire outcomes in form of aim achievement.
Effective management- another strength that
put positive impact on organizational growth
and success is current one. With effective and
appropriate management to business
operations, organization may focus on further
growth of venture.
Good leadership- With the usage of effective
leadership styles and skills, leaders are able to
make Primark more productive and profitable.
Brand accessibility- in the world of business,
organization may establish its venture in 13
nations and have more than 384 outlets. As key
strength it may use the brand availability to
generate revenue more than last few years or
months.
online existence, an organization is unable to
grow rapidly and sustain for longer in the
market or overall industry (What Is a SWOT
Analysis, 2022). Primark is one of those
organizational examples that may not have any
type of existence in online form, which may
put negative impact on its success in the
fashion industry.
Outsourcing of production of apparels- This
weakness may also affect chosen fashion brand
in negative term in form of increasing
inconsistency in quality, which in return lead to
decrease customer satisfaction.
Lack of employee engagement- The worst
thing in the company is lack of employee
involvement in decision-making that affect
organizational progress and success as well as
productiveness.
Opportunities-
Buying behaviour of customers- The buying
attribute to target market in the recent time has
changed, as they prefer to shop online. It may
provide organization chance to gain the
opportunity in form of providing or offering
goods online.
Technology advancement- This term may
also consider as business growth opportunity in
case of Primark, in form of driving
management attention toward developing plans
and strategies to use those advanced
technologies that help to promote venture
Threats-
Intense competition- In the fashion industry,
the competition level within existing brands
has increased, which directly put impact on
Primark and emerge as the biggest threat. It
may drive the attention of organization toward
focus on change that play important role in
regard to long term success and sustainability
in the market. Next, ZARA, ASDA, M&S and
TESCO, are the main competitors of Primark.
Pandemic- Another threat that affect majorly
upon business of chosen fashion brand is
current one. According to this threat, firm may
Document Page
globally, without conducting too many efforts.
Business expansion- the development nations
and regions may gain the attention of
organization toward brand expansion and
provide opportunity to increase profitability.
face the worst challenges, which create more
complications in form of sustaining venture too
long.
Vulnerable supply chain- The product line
and supply chain of selected fashion brand, is
vulnerable to natural obstacles and trade
problems. It is because the retail apparel
companies may get their goods manufactured
from Asian market. It may affect negatively
upon organization sales and growth.
Analysing their STP strategy, providing and insight into how segmentation, targeting and
positioning are recently applied by the company.
It is important for Primark to target, segment and position customers, before start selling
its products in the market (The segmentation, targeting, positioning (STP) marketing model,
2022). The best way to conduct this practice into practical manner, organization may apply the
key elements of a strategic framework and that is STP, which stands for segmentation, targetting
and positioning. It may apply each component in appropriate manner, in term of developing and
using the effective strategies and these are;
Segmentation-
Market segmentation is defined as process of segregating prospective customers into
groups with basis needs and who respond and take interest similarly to a marketing action or plan
that help to promote a product or service (Cortez, Clarke and Freytag, 2021). The division of
customers may allow organizations to focus on individual customer needs, that is essential and
beneficial for business success as well as progress in the competitive market. For purpose of
segmenting target audience or potential buyers, organization may concentrate on using mixture
of behavioural and psychographic segmentation strategies. It may enable Primark and its
management to focus on dividing these customers on the basis of different points such as income
level, age, interest, fashion savvy, tech savvy, fitness or beauty enthusiasts, purchasing
behaviour, etc. Behavioural segmentation strategy may allow organization and marketer to
follow the overall process of customer segmentation, that encompasses some different activities
Document Page
and practices (Boncinelli and et.al., 2021). Psychographic segmentation is also effective in varied
terms, as it may contribute to study more about target audience and divide them easily into a
group using key features such as lifestyles, activities, opinions, and other (dos Reis and et.al.,
2022).
Targetting-
Market targetting refer to procedure of choosing target market from whole industry or
sector, and conducting business related practices according to their needs as well as expectations.
For selling purpose, organization may also apply targeting element, which may drive its attention
and overall concentration toward selecting all population in the national and international market
(Zhang, Chen and Lin, 2022). As it manufacture clothes from men's to children's including
women's. Its markets as a well-known brand for tweens concentrate on manufacturing trending
products with budget constraint. Thus, organization target age group of 16-30 years, among
which each age group of individual expect to purchase satisfactory products either cloth or
accessory, that support to retain them with regular buying of Primark goods. In order to target
these people, it may utilize differentiation targeting tactic, which allow management to select
individual for purpose of selling different category of items. The main motive of using and
applying this tactic is to focus on primary potential consumers or segments that may have most
potential value for company. Once the Primark identify its target market, the aim and objectives
become developing effectively and appropriately for market targetting tactic for each.
Positioning-
Market positioning is described as organizational and marketers capability that they may
use to influence target audience and their perception in regard to a specific brand products
relative to rivals (Positioning: 5 Strategies to Stand Out From Your Competitors, 2020). There
are different types of positioning strategies accessible in the corporate world that a company use
according to need and requirement. In case of Primark, management may focus on using
positioning tactics based on product features, price, quality and competition. It may drive their
attention toward using the best social media platform, where management and marketer may
promote clothes, and other goods with better content that set strong image or position of brand in
the customer mind. By conducting this practice, firm may tale pleasure of increasing profitability
and productivity as well as enlarge customer base, which is not that easy for any organization to
do so. The current chosen strategy is effective and useful in regard to business success and rapid
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
growth in the fashion industry, which in turn lead to generate revenue, increase profitability and
productivity as well as operational efficiency. Each tactic allow organization to take pleasure of
obtaining competitive benefits.
Examining marketing mix, focusing on 4ps.
The key concept or framework that always add in a marketing plan or tactic is marketing
mix, which may specify the effective strategies of companies that aid to achieve aims and target
objectives. In regard to Primark, this model is also applied in varied terms below;
Product-
A key element that organization may use to retain and gain the attention of new
customers is a product (Raewf, Thabit and Jasim, 2021). This term refers to those goods that
intend to satisfy individual person in form of meeting their needs and expectations. The products
that accessible in the business world are exist in two forms, such as tangible and intangible.
Primark in attempts to provide tangible goods to customers, in form of clothes and accessory that
individual buyer prefer to purchase, because of quality and good quantity purpose.
In order to retain potential buyers and acquire new, organization may focus on
developing effective tactic and that is value added. According to this strategy, management may
focus on conducting market research, which enable them to manufacture those clothes that up to
trend. By doing so, they may achieve target goals and then move to formulate another, that is
also important for them to do that.
Price-
Another component of 4ps of marketing mix, that Primark and marketer may take into
their consideration is price, which also known as source of business success and progress (Ziari
and et.al., 2022). The best way to make marketing strategy successful, is price setting related to
products that chosen fashion brand tend to offer and manufacture only for target customers. In
order to achieve target aims and fulfil the mission of business, organization may take initiative to
utilize competitive pricing strategy. It may plan to utilize this tactic in form of selling goods at a
lowest price more than existing competitors, which help to gain the attention of new, profitable
and potential buyers. It can be said that chosen, pricing tactic may enable company and its
management to regulate the competition in form of preventing loss of consumers and profits to
each rival. It is one of the best advantages that permit selected fashion brand to respond to each
and every move of competitors.
Document Page
Place-
Place is the best element of marketing mix concept, because it may support Primark, to
reach desire outcomes and focus on further aims, which they may formulate with the help of
skilled and talented employees, from all the level (Malelak, Setiawan and Maulidah, 2021).
Organization may take this element into its consideration and according to that it may move
toward developing the most effective distribution strategies. In order to achieve target goals,
Primark may take decision to establish its own outlet in the UK and out of the home boundary,
where customers may reach easily and purchase products according to their needs. It may have
hundreds of outlets across USA and United Kingdom, Europe and Ireland. It may also form
tactic to develop distribution channels with more than 300 stores in London. This tactic may
allow company to take pleasure of increasing sales and open up new growth opportunities.
Promotion-
This term may include public relation, advertising and promotional tactics, which aim is
clear and specified (Lim, 2021). Each concept that cover in promotion may contribute to acquire
new buyers, among which each buyer is able to promote venture effectively, from national to
international level. Primark and its marketer for purpose of marketing may take initiative to use
traditional and digital marketing sources or channels. It may use social media platforms to
promote venture and goods, which gain the attention of new audience and also support to
introduce new items, that people tend to purchase, according to occasion, event and other
functional activities, including professional and personal. The chosen company may usually rely
on word of mouth promotion, which enable it to reach desire results such as increase sales, profit
and customer base. Twitter, Facebook, Pinterest and Instagram are the most common
promotional channels that organization use from long time ago, which in return provide
unpredictable outcomes.
Recommendations.
From above analysis and discussion, there are different areas for further improvement
identifies that management in the Primark is accountable to improve, by developing the best
strategies and follow strategic suggestions and these are;
Lack of online presence is the biggest issue that organization in the recent time faced,
which lead to increase complications and decrease the business performance. It
recommended to manager of chosen company is to conduct a group meeting and make
Document Page
important discussion with each stakeholder. The main motive of this approach is to
promote venture online and start selling goods in the similar business model. In today's
time, individual person prefer to purchase products online, instead of taking high interest
in regard to offline purchasing of items (Fraccastoro, Gabrielsson and Chetty, 2021). By
following and considering this suggestion they can gain benefit of increasing customer
base, among which each person is able to gain the attention of new in form of promoting
venture goods verbally through word of mouth promotion technique. By developing an
online website or channel, organization can take approach to provide varieties of goods to
consumers, and options in the context of same. They can select item according to need
and requirement, which management can deliver at the door of individual buyer. This
tactic plays significant role in organizational success and growth context, which lead to
increase sales, more than rivals, like Marks & Spencer, ZARA, ASDA, etc.
Another suggestion that manager and organization can take into their recognition is
employee motivation strategy. It is fact that there are several factors accessible in the
business world, some affect positively and some impact negatively. At this time, Primark
need skilled people who can contribute to overcome any situation. It can take approach to
motivate employees in form of driving high authority and management attention toward
strategy formulation. Manager and leader can encourage staff to share their perspectives,
views and information related to need, which they can consider and then form strategies
accordingly. It can contribute to enhance their satisfaction level and give them reason to
sustain for long in the workplace of Primark, where they can get personal and
professional growth chances. The current suggestion allow management to build wide
and strong workforce, among which they can include talented, knowledgable and skilled
people with skills they used to provide organization benefit and also obtain the same in
bulk. Human resource management can also contribute to make this suggestion valuable
in form of developing plans and tactics for employee motivation and engagement like in
decisions, related to change that they plan to make in the future and recently when it is
needed.
The most effective and beneficial suggestion for managers is training, they can develop
the best training and development session, where experts existence allow each employee
to develop new skills and improve existing in better way. It is the only source that
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
contribute to build strong workforce in the workplace, who can gain competitive
advantages and enhance customers, in form of following the new pandemic guidelines in
the context of workplace. It can permit each candidate to maintain safety and hygiene in
the work area, where people reach to purchase goods, with family, friends or others. By
providing training to all candidates, they can take pleasure of increase productivity in
form of making them capable to use those advanced technologies that help top design
clothes according to trend. It can give them power to engage themselves in important
decisions and process where they can provide their strategic suggestions that in turn cater
unlimited benefits to brand, even more than last few years or months, while sustaining in
the fashion industry.
CONCLUSION
On the basis of above discussion, it has been concluded that utilization of key strengths,
enable organization to gain all the opportunities in the market that is relevant for continuous
growth of business, in the fashion industry. Management by using or applying SWOT analysis,
has determined those external and internal factors that put direct impact on their success, whether
it is negative or positive in manner. Furthermore, from above analysis, it has been identified that
segmentation, targetting and positioning strategies has enabled managers and leaders capable to
target potential and profitable groups of consumers. Each consumer is able to put positive impact
on brand in form of generate awareness related to each practice that it has been conducting from
longer time. It has been summarized that strategic suggestion's consideration has provided
organization unpredictable benefits, which had supported to build wider customer base, more
than rivals that existing in same industry. Moreover, by summing up above discussion, it has
been determined that training session has enabled employees to beat rivals, by making brand
capable to do that appropriately and systematically.
Document Page
chevron_up_icon
1 out of 15
circle_padding
hide_on_mobile
zoom_out_icon
[object Object]