MARKETING

Primark's Strategic Assessment



Executive Summary

This aim of the report is to analyze the marketing plan of Primark. It constitutes the history of Primark along with its background which communicates how it came into being. It discusses about background of Primark, its market positioning conveys its market standing, Segmentation, Targeting & positioning approach (STP), Corporate Social Responsibilities it conducts, and Current Situation of the market and along with the Recommendation that it is suppose to implement in order to further flourish towards the road of success.

Primark's Strategic Assessment

The Brand and its Market

History

Primark is a string of boutiques founded in 1969 by Arthur Ryan and opened his first store called 'Penney's' in Dublin. Four years later Primark started to trade in Britain with new Stores. The company took a major step forward in 1995, acquiring fashion chain BHS increasing its number of stores in England. In the year of 2006, Primark opened its very first store in the Iberian Peninsula in (Madrid) which was followed by another one in Murcia. Primark also expanded its markets to the Netherlands nothing but two years after Spain in December 2008. He bought the first store of Primark to Portugal and then in Germany (Mintel, 2011).

Primark is a clothing retailer; operating over 232 stores in Ireland (where it is branded as Penney's) it is owned by UK- based associated British foods a diversified group with international interests in retail, food and ingredients. Primark and Penney's are its only retail activities and the former is much the larger retail brand. Indeed Primark is the leading value fashion retailer in the UK while its international expansion programme has gained momentum in continental Europe in the last two years. But trading has been significantly tougher in the republic of Ireland where the business still trades as Penney's (Mintel, 2009).

Within the UK there are at least 156 stores and they've expanded over Europe to Spain, Germany, Portugal, Ireland, The Netherlands and Belgium. In total the number of there are 232 stores trading (www.primark.co.uk).

Primark's Objectives

Primark's main objective is to create brand awareness. Primark's secondary objectives are increasing customer's loyalty, increase business sales along with increasing business market share by providing utmost quality oriented product by being in business relationship with quality oriented suppliers and providing quality oriented products at cost effective prices. These can only be accomplished when brand awareness is created. Accomplishment of the objectives will lead to increase word of mouth marketing, brand positioning reinforcement. Doing so will aid in having an profitable and sustainable marketing business (Mintel, 2011).

Primark's Marketing Model

Marketing is said to be a management process which entails the responsibility to identify, anticipate, as well as satisfy the customer requirements in a profitable manner. Marketing can also be termed as a process to plan and execute the concept of price, place, product and promotion along with distribution of ideas, goods and services to create exchange and satisfy individual and organizational objectives. Marketing requires planning and analysis, resource allocation, control and investment and in terms of money, ...