MARKETING

MARKETING COMMUNICATION MIX

Introduction

At this moment, increasing level of the competition and the changing need of the customers are the major reasons behind to face the issue by the firms. These all issues bound the firm to change the marketing and business strategy accordingly that creates the hurdle for the firms to manage the business and the cost of the firm. As a result of this, different ways and the techniques are used by the firms and in this, use the marketing mix, communication mix, etc  are the highly use strategy that are used by the firm (Idris et al., 2012). These all ways helps the firms to successful operate business in the market and to target the customers. Moreover, this report discusses the some effective ways and the strategies that can be used by Primark to get the more additional advantage in the market. This report also discusses the importance of communication mix for Primark to get success in the market and to target the modern customers.

Environmental Issues

There are different issues that are faced by the firm in now existing market. Primark is also one of the famous and leading clothe firm in the international market but instead of this, there are different environmental issues that are faced by the firm in its business segments. In this, changing need of the customers is one of the major issues that are faced by Primark in its business practices. It is because the need of the customers is not constants it changes timely that create the issue for the firm to manage the all business and the production process accordingly. According to the retail analyst Richard Hyman, there is a significant shift in buying pattern of the shoppers from seasons. In the most of trading weeks in 2016, more than 50% fashion retailers considered a decline in sales (Snowdon, 2017).  It also increases the cost of the firm and makes the cause of financial issues (Kitchen, & Burgmann, 2010). As a result of this, the changing need of the customers is considered as a big environmental issue for the firms like Primark.  Along with this, continuous change in the technology is also one of the major environmental issues that are faced by Primark. The reason in this is that due to the change in the technology and continues development of the new techniques and the software, the view of the customers and the way to target the firm has been changed. It is because now most of the people like to be on the internet and use of the different social sites (Murdock, 2017). So, it is also an issue for the firms to use the different technology and the software to target the customers because it make the cause of extra cost and the create issue for the firms in the employees engagement and some other business related aspects. Because of this, it can be defined that the continuous change in the technology is the major issue for the firms in the business process (Godfrey et al., 2011).

Uncertainty of the market creates the issue for the firm to understand the customer demand. To get success in the competitive market, there is a need of understanding the strategy of the market uncertainty. There are different kinds of uncertainty such as- economic uncertainty, credit uncertainty, and new business competition uncertainty that affect the marketing of the company, (Bruhn et al., 2012). It is because after Brexit, there may be a big impact of economic uncertainty over consumer confidence and retail clothing market (Gibbs, 2017).

Additionally, globalization is also a challenge to successfully extend the business due to different strict rules and regulations. So, in order to overcome this issue, there is a need for the firms to understand the foreign culture, their traditions, taste and believes to sell the product in the global market. Design the product according to globalization of the product is also the major issue that is also faced by the firm. There is another issue that these globalized products will fulfil the market demand or not. The product is suitable for the culture and government policies (Bruhn et al., 2012).

The innovation in the product and marketing strategies are basic need of the market. It is because, the customer always demand the changing in the culture, taste and fashion. A company always needs to research and analysis for the new innovative ideas. In addition, the political parties always changes in marketing and financial policy and regulation. In the reflection, all these changes faced by an organisation and affect the overall business and the production process of the firm. Moreover, the demand of the customer cannot fulfil on the particular price because of the changes the cost of the material turn out to be costly (Li, & Green, 2011). Firms also focus on the technology and this change in the technology is also a big issue for companies. In addition, most of the time company want to familiar with the change in the technology. Company always tries to use this new technology but continuous change in the technology make the cause of increasing cost and so many changes for the firm that is why firm considers the technology change as a issue in the business. According to the current scenario, the information technology connects the people to each other but business and life is being complex due to the diverse population (Schüller, & Rasticová, 2011). Due to increasing in the competition there is a overloading of the information and a company face the issue related with the overloading of the information and also tries to manage the information according to the need. The strategic problems and solution of the strategic problems are also an issue that is faced by a firm.

Recommendation

According to SOSTAC model framework, the recommendations will be provided to Primark related to marketing communication mix which would be helpful for the firm to enhance the effectiveness as well as helps in meeting the need of the existing customers. The SOSTAC framework includes Situation, objectives, Strategy, Tactics, Action and Control.

Situation

The current situation of Primark is not effective as company is facing various challenges and problems which were creating problem for the companies to target the customers with effective marketing tool. Bu at the same time, there are also so other issues like environmental issues and financial issues which are affecting the business of firm as production process accordingly. The change in technology and development of new techniques affects the business and target market because firm has to target the market with new technology which satisfies the customer demands respectively. However, the current market scenario related to marketing communication mix is use of information technology which connects the people to each other but business faces problem to get connected with customers easily.

Objectives

In this, Primark business goal is to enhance the firm efficiency by developing or using an effective marketing mix. The use of marketing communication mix tool will help the firm in understanding the customer needs and wants to a large extent.

Strategy

Similarly, it is also recommended that an organisation should use their promotion strategy. A pull strategy of the marketing communication mix is very useful by the use of this promotion strategy customer ask to buy the product. The aim of the Pull Strategy is to make direct customers and it is a better utilization of the advertisement. The consumer will ask about the product to the retailer if this strategy is successful (Kitchen, & Burgmann, 2010). On the other hand, there is a push strategy of the marketing of the product. In the concern of push strategy, the firm uses the sales force and trade promotion to push the product using their channels. The company promotes their wholesalers to increase the selling of the product and wholesaler promotes the retailer by providing high profit on the product.

Tactics

In this, there are different communication mixes tools which firm can use for targeting customers through social media, advertising. In sales promotion strategy includes social media sites such as Facebook, Twitter, etc would be the best way that firm can use to increase the effectiveness of the marketing communications mix. Nowadays, social media is one of the best ways to target the maximum customers in minimum time because there are large numbers of users who uses social media sites (Helm, & Gritsch, 2014). In this case, firm would use the online promotion tool then it will be quite beneficial for the firm to create the more brand value compared than other ways. While studying, it is identified that Primark is not using any social pages and the activity in order to target the customers. So, it is recommended to Primark to target the customers by using social sites also for increasing the customer awareness and to have a great shopping experience (Buil et al., 2013).

In addition to this, Primark also need to focus on the advertising because it is the rapid way to increase the knowledge and aware the customers about the products, offers, campaign, etc. This tool will directly increase the sales of the firm and will provide the competitive advantage to the firm as well over the Arcadia Group Limited; George Clothing and T.K. Maxx (Tsikirayi et al., 2013). In the same concern of this, cognitive response theory states that there are different factors such as looking product, watching a commercial on television, display, advert in a magazine, etc that make the sense for the people or influence the purchasing behaviour of the people.

Action

Primark will adopt and implement the new marketing mix strategy in efficient and effective manner so that they can target the customers with new technology. The advertising will help the firm to create a positive image of the firm in the market and among the customers. It is because due to the globalization and the increase market competition, there are different firms that are available in the market and provide the competitive products for the customers. So, to get the additional advantage and to increase the sales of the firm, there is a need for the firm to direct marketing of the product, it is will be helpful to increase the sale of the product (Sarker et al., 2012).

In addition, it also recommended to the firm that there is also need to providing discounts or promotions to the consumers (Bruhn et al., 2012). The promotion schemes attract the customers because by this the company provides the direct benefit to the consumer. It includes the percentage discount, coupons, rebates and discount points. It affects on the several things such as increase in revenue, attracting new customers, introducing the brand, increase cash flow and clearing extra inventory from business warehouses.

Control

For controlling and measuring the marketing mix plan for business in competitive market, it is recommended to firm that form needs to focus on the direct marketing services which includes both personal selling and sales promotion strategy. In order to control the marketing communication mix, the firm is recommended to determine and check the review for the direct marketing services which are done for targeting customers with the help of emails, online survey and direct mails. These all online technology services will be useful way for determining the actual progress and target ratio related to demand-sales.

On the other hand, firm also needs to measure the progress of recommended marketing mix by analyzing the demand and sales and customer relationship with the firm. Along with this, preference, convince feedback and action will help Primark in controlling and measuring the actual performance of the organization in competitive environment.

Limitations

Advertising- The major drawback of using advertising as a promotional tool is that lack the personal touch as it is impersonal, due to this all the questions and queries of the customers can’t be answered. It is an expensive tool to promote the company. If any message content is wrong the whole advertisement ill create a negative impact on the minds of the customers. Advertising requires constant monitoring, thus it incurs a lot of time (Idris et al., 2012).

Personal selling- Personal selling will be effective if the sales force employed is effective, so it will be costly for the company to employ and train the employees to give effective results. Customer Loyalty is also an issue faced by the company as if the salesmen do anything which is not appropriate then the customer would be lost forever. Personal selling also involves many admistrative problems. Since, the company has to deal with the workforce it becomes a challenge for the company to motivate, coordinate, organize, and control them. Social media- Though social media is one of the most used source of promoting the company it also has some drawbacks. There is a low ROI because targeting is low. Visitors generally go on social media sites to interact with others rather to watch any advertisements. (Kitchen, & Burgmann, 2012).

Conclusion

From the above discussion, it can be concluded that there is a vital role of the techniques that are marketing mix and communication mix in the success of the firm as well as useful for the marketing of the product.The social media, advertising, direct marketing, personal selling, promotion schemes and promotion strategies help the firm to get an idea about the value of the products and to take the decisions accordingly.

References

Bruhn, M., Schoenmueller, V., & Schäfer, D. B. (2012) Are social media replacing traditional media in terms of brand equity creation?. Management Research Review, 35(9), pp.770-790.

Buil, I., De Chernatony, L., & Martínez, E. (2013) Examining the role of advertising and sales promotions in brand equity creation. Journal of Business Research, 66(1), pp. 115-122.

Gibbs, A. (2017) In a post-Brexit world, fashion industry puts on a brave face despite uncertainty. [Online] Available at:  https://www.cnbc.com/2017/02/20/in-a-post-brexit-world-fashion-industry-puts-on-a-brave-face-despite-uncertainty.html (Accessed: 18 August 2017).

Godfrey, A., Seiders, K., & Voss, G. B. (2011) Enough is enough! The fine line in executing multichannel relational communication. Journal of Marketing, 75(4), pp94-109.

Helm, R., & Gritsch, S. (2014) Examining the influence of uncertainty on marketing mix strategy elements in emerging business to business export-markets. International Business Review, 23(2), pp. 418-428.

Idris, A. A., Asokere, A. S., Ajemunigbohun, S. S., Oreshile, A. S., & Olutade, E. O. (2012) An Empirical Study of the Efficacy of Marketing Communication Mix Elements in Selected Insurance Companies in Nigeria. Australian Journal of Business and Management Research, 2(5), pp. 8.

Kitchen, P. J., & Burgmann, I. (2010) Integrated marketing communication. USA: John Wiley & Sons, Ltd.

Li, M. L., & Green, R. D. (2011) A mediating influence on customer loyalty: The role of perceived value. Journal of Management and Marketing Research, 7, 1.

Murdock, S. (2017) 4 Reasons The Retail Industry Is Declining. [Online] Available at:  http://www.huffingtonpost.com/sharifa-murdock/4-reasons-the-retail-indu_b_9142282.html (Accessed: 18 August 2017).

Sarker, M. A. H., Aimin, W., & Begum, S. (2012). Investigating the impact of marketing mix elements on tourists ‘satisfaction: an empirical study on East Lake. European Journal of Business and Management, 4(7), pp. 273-282.

Schüller, D., & Rasticová, M. (2011) Marketing communications mix of universities-communication with students in an increasing competitive university environment. Journal of competitiveness, 3(3).

Snowdon, C. (2017) Retailers ‘left behind’ as consumers change habits. http://www.bbc.com/news/business-38812925

Tsikirayi, C. M. R., Muchenje, B., & Katsidzira, Z. (2013) Impact of integrated marketing communications mix (IMCM) in small to medium enterprises (SMEs) in Zimbabwe as a marketing tool. Research in Business and Economics Journal, 7,1

Appendices

Poster

MARKETING

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