Business Plan

Business plan for Primark

Business plan for Primark

Executive Summary

Primark is a successful retail outlet, which has its operation UK wide. The company has successfully made its mark across Europe and has bright prospects in Asian market. The population of is mostly comprised of youth and has large market to serve. Primark sets a very good example in management and logistics and can give really tough time to competitors in Asian market. There are several attributes to the success of the company which makes it possible to experiment into other market. The external environment including political, social, economical and technological forces which are need to be assessed before entering in to the new market. The main point of the success of Primark, it is that the owners of Primark were one of the first in practical business who realized the whole picture of global market and combinations of aspects and factors that is given by the globalization. Before entering into the market, Primark needs to set objectives on SMART parameter. Primark properly analyzed its target market and applied cost leadership, differentiation and E-commerce strategy before entering into the new market.

Primark is an Ireland based clothing companies that have opened number of stores within few years of its inauguration. The company's main headquarters are located in Dublin. A company is a subsidiary company of food processing company. ABF is a highly diversified group of companies who enjoy a high degree of autonomy in the running of their specific businesses. The ABF group is one of the biggest chain stores in Europe with the variety of successful brands and goods in the food sector.

The success and growth of Primark has shown significant changes in the retail business. The changing global trends and demands of the customers due to improved lifestyles have forced Primark to focus upon its business strategies and management greatly to survive in the global market. The external and internal influences can create the need for change that is why today's contemporary organizations give major emphasis upon positive organizational change.

Also, the rapid changes in all the aspects of human life have created a different scenario for all businesses Now, it is not possible to survive in the market with identifying the latest market trends, technology, customer demands, internal company problems and government policies etc. all these mechanisms and forces has impacted the business activities significantly. (Natalie, 2007, 3-5).

Target Market and Competitors in Morocco

Primark has gigantic chain of stores offering wide variety of product in menswear, womenwear and children. It also offers wide variety of home products. It caters to fashion conscious people under the age of 35. The company has developed the slogan of “Look good pay less” for defining its market segment. The company has adopted 'Cost Leadership' strategy, which makes it evident that Primark cost privilege over competitors.

The company has adopted effective strategy to cater to the larger segment of the market. The large market share is gained due to doing lot of right things, over the period ...