Essay on Primark Marketing
1840 WordsMay 16th, 20158 Pages
Anglia Ruskin University
Marketing plan for Online Shopping service for Primark
Swot Analysis 2
An idea for the new service 4
Future Marketing Strategies 6
3-year Financial Forcast 8
Reference List 9
1. Primark SWOT Analysis
Marketing planning involves looking at all angles, the best strategy that will enable a company utilize it resources efficiently. Organizational resources are scarce and thus planning become inevitable. Analyzing the marketing requires adequate knowledge with proper strategies to seize opportunities that exist. Market planning requires that organization understand their internal and external environment. Internal…show more content…
This is due to the fact that it has been able to attract an assortment of customers to its brand. Primark also boasts of a high number of employees as a major strength. Due to the fact that the company is known for rewarding its employees well for their efforts, most of them put immense effort in their work to ensure the success of the company (Associated British Foods, 2012; Key Notes, 2012). Furthermore, Primark’s strength seems to be guaranteed for a considerable period of time since it is evident that the company has made efforts to ensure improvement of its various products and services. Other strengths associated with the company includes; distinctive products as well as the company’s background, a wide range of strategic moves that the company has made in the future and continues to make even presently, and the company’s indisputable workforce diversity among other strengths (Associated British Foods, 2012; Key Notes, 2012).
Though Primark has major strengths that have seen it grow over the years, it also has its share of weaknesses. One of the major challenges that Primark has faced in the past few years is the increased rivalry from other companies such as Esprit that have produced clothes lines that are a close replication of its products, hence impacting on its profits in a negative way. This made Primark to react in a rather spiteful way because it knew exactly how this would impact on its
Primark SWOT Analysis
According to Blythe (2012) in order for a firm to take stock of its internal position, managers apply the SWOT analysis. Primark uses this analysis in the following ways:
1. The company has over 161 stores.
2. Offers job opportunities and employs over 27,000 people.
3. To attract its customers Primark offers affordable good quality products.
4. Primark is part of the Ethical Trading Initiative. Some of its key objectives are to focus on employee’s rights, their goods production and work on labour rights matters.
1. Despite Primark being a member of the Ethical Trading Initiative, there have been many negative reports concerning the was business operates concerning production of its goods. In the past it has been alleged that Primark used child labour to produce their goods.
2. Poor working conditions and disrespecting workers rights are another issues.
3. Due to the fact that Primark does not advertise, their competitors have advantage over them.
1. Having opened 47 new stores in the UK, additionally 7 new shops have been opened in Spain.
2. The competition with other companies, e.g. Matalan and H&M.
3 .The company’s competitors have advertising while Primark has little to no advertising.
1. Matalan, Peacock, new look, Zara, Tesco, Marks &Spenser, Costco, TK Max, ASDA, and Next are some of the main competitors of Primark. However, Primark has better business power and high market share which is determined by the analysis for each main competitor. It has comparatively poor management quality and low standards of hi-tech position but has good financial strenghts and high profitability.
2. In relation to competition, Primark needs to consider several external forces and environmental changes to define its marketing strategy. Primark is facing high competition which is offers cheap products as well.