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Report on Primark's Marketing Strategy.

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Introduction

´╗┐Marketing Assignment MARKETING MANAGEMENT Index 1. Executive Summary???????????????????..03 2. Outline of marketing plan????.?????????????04 3. Critical evaluation of marketing environment?????????..05 4. Impact of new technology and new media??????????...06 5. Contemporary issues of the firms reputation??????????10 6. References???????????????????????12 EXECUTIVE SUMMARY This is the assignment based on the study of Primark marketing strategy and how they are reacting in the market. This strategy is good for the firm to read the mind of the customer and react according to it. They have to work hard in the market so that they are able to achieve the result whichever they want. They have to do market survey so that they are able to make changes which are good for the firm and give them required level of customers. Primark is performing well in the market and they are currently renovating their stores so that they are able to accommodate more customers. OUTLINE OF MARKETING PLAN FOR PRIMARK Ltd Marketing is important part of every business and firm has to adopt proper marketing strategy to be successful in the market. The firm has to research market and think which strategy they want to adopt according to market situation. The firm has to think and then go and use that marketing strategy in real world. Author takes well performing firm from the UK market called Primark. This firm is popular for cheap cloths in the market and specifically concentrate on the particular store which is situated in Wembley. Author discussed strategies which they adopted to be successful in the market and generate good revenue which help firm in the market. The firm has to research market properly and then think which strategy they are going to follow in the market. Primark main strategy is to sell clothes and other things on cheap rate and quality of product is good at the same. Primark is currently investing in development of their store so that they are able to accommodate more people in the store. ...read more.

Middle

The price will attract most of the customers in the market and Primark is very successful in terms of price comparison. They are able to catch more and more customers through their pricing. They are going to attract more and more customers in the market and going to make impact on each and every customer. ? Promotion: - The promotion is the key for every event and the organization has to promote their product. They have to follow it properly. Because competition is increasing day by day so the firm has to promote their products in the market. By doing this the customers are able to know the product and then decide whether the product is proper or not. This is important for every organization. This is very important for any firm because it will give more and more customers and in market it is very important thing. ? Place: - Every business has the proper place to establish them. There are two cases to choose the place first is to establish themselves near to the competitors and other is to establish themselves far from the competitors. This is very important things but it up to the organization to choose which is better for them. Today we have the two kinds of stores like online means Internet store and the other one is offline stores. The online store has low investment and marketing cost while offline store ahs the high investment and high marketing cost as well. This is also important for firm to establish themselves in both places online as well as offline. This is help organization most so that they gain much needed confidence. This is the most important thing for any firm in the market for firm like Primark. There are other 3P?s added to the 4P?s namely people, process and physical evidence. ? People: - Every business has needed the customers and for that the organization has to prepare them to the best extent so that people are attracted to use their products. ...read more.

Conclusion

The firm is very popular so they have their customers in the market and they are also achieve more and more customers by their marketing through ?Word of Mouth? this is the most important thing for any firm in the market. The firm is very popular and very composed firm in the market. This thing will help them in the market because they are way ahead than their competitors in the market as well as their competitors know every thing about this firm. The firms have to work hard to be successful in the market. This is very important thing from the customer prospective as well. Because customers are know that they are purchasing goods from very popular firm in the market. This is the important thing for the firm in the market. Primark is always thinking about their customers so that they are able to achieve the required result from the market. This is the important thing for any firm in the market. Reference: ? Beer A., 1977, ? Product Design and Development?, 3rd Edition, McGraw-Hill, New York. ? Smith, Preston G. and Reinertsen, Donald G., 1998, ?Developing Products in Half the Time?, 2nd Edition, John Wiley and Sons, New York. ? Kim, J. and Wilemon, D. 2002, ?Sources and assessment of complexity in NPD projects. R&D Management? , 33 (1), pp. 16-30 ? Steven D. and James S., Predevelopment activities determine new product success, in: Industrial Marketing Management,Vol.17 (2004), No 2,pp. 237-248 ? Houle S., 2009, "The Fuzzy Front End for Incremental, Platform, and Breakthrough Products", PDMA Handbook of New Product Development, 2nd Ed.: 81?91 ? Ansoff, I., Strategies for Diversification, Harvard Business Review, Vol. 35 Issue 5, Sep-Oct 1957, pp.113-124 ? About ansoff?s Growth Matrix [online] [Accessed on 25th March, 2011] ? Ansoff?s Plan of Growth [online] Available At: [Accessed on 26th March, 2011] ? About new product development process [Online] Available At: [Accessed on 27th March, 2011] ? New product Development [online] Available At: [Accessed on 28th March, 2011] ...read more.

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