Primark and Blockbuster Describe the main aims and objectives of the business and the external factors which have affected the ability of the business to achieve them.

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Charlie Stuart Class: 12f

– Describe the main aims and objectives of the business and the external factors which have affected the ability of the business to achieve its aims and objectives.

-Analyse how marketing activities, enterprise skills and teams have contributed to the success of the business

Task 1 – Aims and Objectives

All Businesses have a variety of goals that they aim to achieve and most businesses do achieve their goals. When they do they set their business with a much bigger goal that they will then try and reach. The common aims of business are to aim to make profit so that the owner can expand the business even bigger and which will influence the way that they behave. Some of the common aims are stated above and also explained in details below.

The business I have chosen is Primark. First Primark store was opened in June 1969 in Mary Street which is where the Headquarter is also located. The business sells a variety of clothing, shoes and home ware such as curtains, pillows/cushions, rugs and simple bathroom equipment e.g. toilet seats. Primark has 238 and 156 store just in United Kingdom, 38 Stores in Ireland and etc.

Primark’s goals are mainly to provide what the public needs in a good quality and a low priced way. Seeing as Primark does not charge much money for any of the products that they sell, people should be realising that the product would not last very long as more expensive products that we would get from other store. The prices for Primark’s Products are all based on the quality of the product and its use which will all be taken into account when they price their products.

Primark’s business aims and objectives

Primark aims for increased sales by placing sales on a daily basis such as at the end of every season. For example, at the end of winter they place the winter products on half price sales which is a good strategy for a business to use because people will try to save money on products that they will be needing for the next winter and they want to be a step ahead and prepared for the arrival of the next winter. They objective here would be to make sure that they do not price their products at a higher cost rather than a reasonable and affordable price. Primark sell goods at a reasonable price and they want their customers to have a variety of options to them, so Primark are offering their customers good quality products at reasonable prices. This will be achieved by looking at their competitors and other stores, selling similar products, and making their prices lower than their competitors.

Primark mainly aims to provide good quality products for their customers because they want their customers to realise that Primark is a good company. Just because they sell products at a very cheaper price, this does not mean that the products they sell are not good or at a bad quality. The main objectives in order to reach this aim will be to satisfy their customers and gain more potential customers. This will be done by making sure that they provide the customers with good quality products in order to grab potential customers. This will also help them to grab more potential customers as well as letting their customers know that they sell good quality products.

Primark makes sure that their aims and objectives are linked to SMART which includes their aims and objectives being specific meaning that the goal can be accomplished than a general goal and  measurable meaning that they can measure the progression that they are making to achieve the goal. Achievable, realistic and timely meaning that the aims and objectives can be achieved, realistic and can be achieved in the time they want to spend on achieving the aim.

Primark aims to provide their customers with an excellent customer service which involves them being friendly and helpful towards customers and staff. Primark wants the public to think that they are a friendly company, so that this makes their customers want to come back to their store if they feel welcomed. Primark’s objectives for this are to make sure that the staff treat and greet their customers properly. They are trying to achieve this by greeting customers as soon as possible and making them feel welcomed at Primark and they also ask if they want any help in case they are shy to ask for help, just to make it easier for their customers. This will also help them grab potential customers and which will mean that Primark will be benefiting from a range of areas such as increased sales, potential customers and etc.

Primark has a policy to treat everybody the same and everybody have their own rights. Primark wants to make their regular customers to feel like everyone is treated the same. Each and every customer are the same to Primark whether they have less money or lots of money with them, Primark intends to treat all their customers as equals. Primark will achieve this by having an objective to making everyone in the store feel individual and also by making everyone feel like they are ‘special' and no different from one another.
Primark aims to target young, fashion-conscious under the age of 35’s, offering them high quality and fashion basics at a reasonable pricing, so that it could be afforded by everyone and are value for the amount of money they pay.

Making a profit is one of Primark’s main aims and the objective to achieve this aim would be to make sure that they get increased sales instead of decreased sales. Increased sales will help Primark to make a lot of profit and will also show them if they have gained any new potential customers for Primark. This will also help Primark know the performance of their staff such as if they are providing an excellent customer service because this will increase sales. Primark comes up with their own designs for clothes that would attract their targeted customers which would be the under 35 year olds and the young who like to be up-to date with the latest fashion. Gaining more potential customers would also ensure Primark making more profit than usual. Making a profit will also help Primark to expand their business

Total revenue is the total amount of money that comes into the business, Primark from selling products or service that were originally designed by the business. The total revenue can be calculated by:

PEST

Political Factors:

There are several political factors that could affect the entire firm of Primark. One would be that if they were sued by their competitors for copying their similar products this will bring the market to a downfall for Primark. Primark was brought to court and sued by many of their competitors for copying designs of their products. This has a major effect on Primark as a whole firm because if they keep getting sued that will bring their market to a downfall and that is not great.

In May 2004, Monsoon also took legal actions against Primark. Monsoon claimed that Primark had copied their £44 butterfly skirt, selling it at £11, as well as copying the Brittany top for girls. Primark charged around £23,000 by Monsoon which was also an out-of-court settlement and this was after Primark admitting to the copies. In April 2005, Monsoon accused Primark of copying the designs of six more items that they claimed to have created. Primark was once again forced to remove all of these products that monsoon sued them form, from all the Primark shops when Primark was threatened by Monsoon to take legal action.

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Primark was not sued just by Monsoon because in 2009, Primark was sued by Superdry for making a cheap imitation of their 'Brad' jacket. Primark got an out-of-court settlement with high street fashion brand Superdry, after Primark was accused of copying one of the Superdry’s leather jackets which was originally priced £174.99 at the Superdry store and the imitation was sold for £30 at Primark stores. This lead to Primark being sued which exposed that they were copying their competitors’ products which would have brought suspicion to all their other competitors on Primark. Primark was made to suffer the financial consequences ...

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