Strategic Marketing Management

Assignment 1: Primark1

Company Introduction1

Strategic Objectives and Marketing Strategy2

New Product Development3

Segmentation4

Assignment 2: Strategic Marketing Plan5

External and Internal Assessment5

Porter's Five Forces Analysis5

AAA Triangle and Strategy Development7

Porter Generic Strategies - Competitive Positioning10

Critical Evaluation of Generic Strategy11

Approach to Research Methods13

Research Outcomes and Market Opportunities15

Ethnographic Research16

Focus Groups16

Interviews17

Marketing Research Campaign18

Recommendations20

Assignment 3: Marketing Plan for Restaurant21

Need to Balance Short Term and Long Term Goals22

Market Analysis22

Alternative Market Plans24

Chosen Strategy: Cost Leadership25

Implementation of Methods26

Control & Monitoring26

References28

Strategic Marketing Management

Assignment 1: Primark

Company Introduction

Primark is the world's one of the famous retail group that is currently operating in UK. It has 187 stores at different locations. The number of employees in the company is more than 27,500. The reason of success of company is the cheaper sourcing of supply. No agents are involved and buying is done directly from the factories. Clothes are making with simpler designs and fabric quality is good. The sizes and colours are one that is most popular. Stocks are bought in the bulks and buyers are targeted with latest fashion trends (Morris et.al 2008, pp. 123). Thus lower marks up result in big volumes and also offered best value and quality at lower process. The overhead costs are also minimal. It is also made sure that no heavy expenses are made on advertising campaigns and strategic marketing approaches are used in their place to keep expenses low.

Strategic Objectives and Marketing Strategy

Offering a family of brands, Primark is a high street retailer. It also focuses buying, logistics and supply chain management rather than branding. It aims to provide best product quality by clearly focusing on the target market. It also maintains superior store fit and high street locations.

The company aims to use young people as the major resource by providing them with superior quality products. These people are prepared to pay money for the value of fashion trends. The customer proposition was developed by Primark that states "Look Good, Pay Less". This is due to innovative technology, supply and volume buying, efficient distribution system of the company. Thus the company communicates the message to its target market that Primark offers value based products. Supplying quality and class clothing and merchandize at the worth is the mission of Primark staff and management. This ensures super competitive prices.

The industry in which Primark is operating demands a marketing process that should be managed strategically. Retail clothing industry is a fast moving industry. It is also profile business environment. Primark has developed strategy of an organisation that serves as a roadmap towards attainment of its long term goals and objectives. Implementing principles of strategic management is the core objective of the company that involves in the context of marketing function. Competitive analysis, market dynamics, and environmental shifts are the principle marketing strategies used at Primark at corporate level. These marketing inputs are essential for formulating a corporate strategic plan. Primark ensures that it uses target marketing and product marketing approaches in a strategic way to keep its value in the market. The company considers it strategically important to assess the ...