BM9G008 STRATEGIC MARKETING ANALYSIS ASSIGNMENT  SAMPLE

Introduction

Marketing has become the primary task while operating a business, as it helps in transferring knowledge about the products seamlessly. The study is based on analyzing the marketing strategies of Primark also known as Penneys.

BM9G008 STRATEGIC MARKETING ANALYSIS ASSINMENT SAMPLE

Figure 1: Primark’s store

(Source: Makortoff, 2020)

Therefore, all important segments will be looked at for evaluation and analysis. The organization is found to have started its business in Dublin along with a range of products starting from clothing, housewares, and cosmetics. Thus, the assessment will follow the 9Ps framework along with the consumer profile with the consumer mapping journey. Later on, an analysis will be done with respect to the key strategies of Primark successfully for comprehending the learning outcomes efficiently.

Evaluation of company through 9Ps framework

The following segment will evaluate Primark through the 9Ps of the marketing mix, which includes price, place, products, promotion, people, partner, planning, passion, and presentation.

BM9G008 STRATEGIC MARKETING ANALYSIS ASSINMENT SAMPLE

Figure 2: 9Ps of the marketing mix

(As influenced by: Ulkhaq et al. 2018)

Price

Pricing strategy is one of the most important components of an organization. Price is one of these aspects, which can easily lure consumers towards organizational offerings. In context to Primark, they are ecstatic about its inexpensive costs. Whatever the budget is, they provide a wide selection of styles and household products at low costs (Primark Stores Limited, 2022).http://BM9G008 STRATEGIC MARKETING ANALYSIS

BM9G008 STRATEGIC MARKETING ANALYSIS ASSINMENT SAMPLE
Figure 3: Primark’s low pricing at the stores

(Source: The Irish Times, 2022)

As reflected above, a significant feature that draws a great number of people to Primark merchandise is the price. Primark ensures that its consumers receive the highest quality products at a low possible cost.

Place

They have 370 locations throughout the United States, the United Kingdom, and several European countries. Primark opened new outlets in France, Spain, and Germany in order to extend their consumer base and, as a result, their sales volume increased. They used to set their shop in a prominent area where consumers could easily purchase them.

BM9G008 STRATEGIC MARKETING ANALYSIS ASSINMENT SAMPLE

Figure 4: Growth of Primark stores

(Source: Smith, 2021)

Moreover, the in-stores of the organization are growing; however, they do not have any presence in online e-commerce (Kraaijenbrink, 2019).http://BM9G008 STRATEGIC MARKETING ANALYSIS Another thing that draws customers to Primark merchandise is the reasonable and affordable price. During the consideration phase, Primark is known for its high-quality, low-cost merchandise. It offers customers a high-quality product in an engaging, trendy, and enjoyable in-store experience. It does not take advantage of customers and represents the company’s tagline, “look good, pay less” (Primark Stores Limited, 2022).http://BM9G008 STRATEGIC MARKETING ANALYSIS

Products

The organization has found it to be extremely versatile in its product offering. On the official website itself, they are found to have a variety of clothing ranges for women, men, kids, and babies, along with home decor and homewares. Moreover, beauty cosmetics have also been acknowledged to be the areas of interest of Primark (Primark Stores Limited, 2022).http://BM9G008 STRATEGIC MARKETING ANALYSIS

BM9G008 STRATEGIC MARKETING ANALYSIS ASSINMENT SAMPLE
Figure 5: Eco-friendly products of Primark

(Source: MKFM, 2020)

As reflected above, Primark has also focused on sustainable and environment-friendly products, which is a great initiative to maintain corporate social responsibility (CSR).

Promotion

Whenever the term “promotion” appears, it is directly related to social media channels and websites. However, Primark does not follow everyone in doing huge promotions of their products. In terms of awareness, Primark’s online presence is not that efficient in comparison to its competitors such as Zara and H&M. However, Primark has been one of the rare corporations that do not market their products in any way.

Primark spreads its message by word of mouth. Strategies such as cashback, offers, and discount coupons are there, however, digital promotion remains an important component of the company’s strategy, and it has a non-transactional webpage that exhibits its clothing lines while directing customers to the nearest branch (Rigby, 2019).http://BM9G008 STRATEGIC MARKETING ANALYSIS

People

Women’s apparel is the most popular amongst Primark’s clothing offerings, with 11.9 million individuals in 2019. Men’s clothing and kid’s clothes, on the other hand, were acquired by 10.9% with 7.6% individuals (Smith, 2021).http://BM9G008 STRATEGIC MARKETING ANALYSIS


BM9G008 STRATEGIC MARKETING ANALYSIS ASSINMENT SAMPLE
Figure 6: Women are the major interest of Primark

(Source: The Economist, 2022)

Despite Primark’s target age range being 18-35 years old, the company’s performance is dependent on concentrating on a young target market. However, the company’s highest sales volume comes from segments that appeal to people of all age groups. This strategy of the organization is gaining huge accessibility in the market. Primark employs about 70,000 people, who are compensated similarly to their competition, including ZARA and H&M.

Those who work for Primark are guaranteed essential rights such as the prevention of discrimination in whatsoever form, participation for people with a disability, and greater employee engagement (Kuruvilla and Li, 2021).http://BM9G008 STRATEGIC MARKETING ANALYSIS

For purchase, in-store is the only option variable for Primark’s potential customers. The organization only uses social media to spread awareness not to do e-commerce. In terms of service, Primark has an excellent customer service representative to assist their shoppers.

It offers consumers solutions 24 hours a day, 7 days a week. Customers can reach out to customer support via telephone, Twitter, or even email. Primark has a fantastic 30-day money-back promise (Primark Stores Limited, 2022).http://BM9G008 STRATEGIC MARKETING ANALYSIS

Partner

They choose to follow the “United Nations Guiding Principles” on “Business and Human Rights”, and also the OECD Due Diligence Guidance for responsible supply chains, in terms of proper research. Participating and collaborating with relevant stakeholders allows them to strengthen their influence, truly comprehend and mitigate potential losses, and address problems as needed. This includes interacting involving policymakers, labor unions, and various civil society groups. Among them, BSR her+project, Cotton Connect, Ethical Trading Initiatives, and many more are the ones with which Primark collaborates (Primark stores Ltd, 2022).http://BM9G008 STRATEGIC MARKETING ANALYSIS

Planning

Primark’s main planning strategy is to offer quality products to potential customers at unbeatable prices. Along with this, the focus of the organization has also been on innovation and becoming consumers’ first choice. In this respect, the organization has paid special attention to CSR and sustainability (Robertson, 2021).http://BM9G008 STRATEGIC MARKETING ANALYSIS Primark’s products come in appealing packaging that satisfies the customer. Primark takes effort, as they began using freshly printed packs rather than plastic shopping bags. The packing inculcates in the purchaser the desire to purchase the thing.

Passion

In terms of passion, Primark has transformed the passion of customers into their own passion by channeling it through product offerings. For offering and delivering customers with the greatest outcome along with ensuring the availability of raw materials, Primark has taken a comprehensive supply chain approach. All of these sectors have taken a huge leap to organizational success. Customization, reliability, trustworthiness, responsiveness, and pricing are all factors in Primark’s success (Primark Stores Limited, 2022).http://BM9G008 STRATEGIC MARKETING ANALYSIS Customers’ demands and desires are taken into account when Primark creates products.

If a customer is dissatisfied with a product they have bought and they even have the option of returning it as well. Finally, with the loyalty expansion, with this much accessibility and lower price rate along with exclusive offers, the loyalty of Primark is surely growing to an extent. This statement can be justified as Primark’s share of the market in the UK apparel industry has risen dramatically, reaching 7.1% percent in 2018. Primark’s steady expansion over the years has enabled the low-cost store to reduce the gap with Marks & Spencer, which once topped the market (Smith, 2021).http://BM9G008 STRATEGIC MARKETING ANALYSIS

Presentation

Primark has taken a certain place in the marketplace, which reflects that they are offering premium quality products at the lowest prices. Primark’s objective and vision are centered on supplying customers with high-quality merchandise while also considering the current trend, elegance, and pricing. It is clear that the corporation considers the cost to be among the most important factors and is committed to delivering the highest items at the least total price. Primark also strives to create a supportive environment for both customers and staff (Mission statement, 2022). Consequently, they are always eager to visit their establishment and feel appreciated. The organization aims to do this by welcoming and treating its consumers with respect. This has helped the organization with a great customer base with optimum market revenue.

Consumer Profile

Background

  • BM9G008 STRATEGIC MARKETING ANALYSIS ASSINMENT SAMPLEName: Robert Jenner

●      Job: Executive manager

●      Status: Bachelor

Demographics ●      Sex- Male

●      Age: 29

●      Lives on Urban area

●      Salary: $ 45,000

Identifiers ●      Prefers quality products to look presentable

●      For meetings formal are the main choices

●      Loves to save money

●      Fashion blogging is hobby

Motivation ●      Fashion and trendy styles

●      Availability of patterns and prints

●      Low pricing with high quality products

Table 1: Consumer profile

Background BM9G008 STRATEGIC MARKETING ANALYSIS ASSINMENT SAMPLE

●      Name: Lissel Jonas

●      Job: Part-time blog writer

●      Status: Married

●      Children: 1

Demographics ●      Sex- Female

●      Age- 31

●      Lives in urban areas

●      Salary: $ 20,000

Identifiers ●      Prefers quality cloth for her child

●      Extremely conscious about clothing fabric

●      Prefers cotton cloth

●      Loves taking care of every house chores

●      Fond for houseware items to decorate

●      Shops every weekday

Motivation ●      Presentable shipping sections for kids, women, and houseware

●      Quality products with minimal price

●      Cashback offers and discounts to save money

●      Better initiative towards sustainable products which are safe for kids

Table 2: Consumer profile

Analytics

Product strategy of Primark

Primark is a well-known business that sells a variety of different products. Primark offers a wide choice of clothing for women, men, and youngsters, as well as cosmetics, undergarments, household elements, and footwear. Since women make up the majority of the corporation’s consumers, the company has focused on women’s fashion (Robertson, 2021).http://BM9G008 STRATEGIC MARKETING ANALYSIS It also contains a New Arrivals area to interact with customers and stimulate their interest in current fashion and lifestyle trends. Besides these items, Primark also sells limited-edition merchandise that appeals to a specific group of consumers and adds to the company’s value by giving customers a sense of distinctiveness. Furthermore, the most exciting thing about Primark is that it is a member of the Greenpeace Detox Campaign and Sustainable Apparel Coalition. All of the products are being introduced while measuring an effective approach to sustainability along with reflecting a great initiative towards donating unsold items (Robertson, 2021).http://BM9G008 STRATEGIC MARKETING ANALYSIS

Price strategy of Primark

From the evaluation and discussion above, the main strategy of Primark has been procured to be its pricing strategy. Considering a low pricing strategy, the organization has found to overtake most of the fashion retailers in the marketplace. Generally, when a product’s price is low, the quality of the item automatically declines (Eisenberg, 2019). http://BM9G008 STRATEGIC MARKETING ANALYSISThis is where Primark has changed the game. They are offering quality products with low pricing that is nearly unbeatable. Primark is a low-cost high-street store with over 350 locations worldwide. Primark has focused pricing on securing significant allies that could improve every section of its company.

Promotion strategy of Primark

In terms of promotion, the organization has been found to be having social media presence primarily on Facebook, Twitter, and Instagram. Primark used a lot of the same video as well as graphic content on Facebook and Instagram, with Instagram content frequently working its way to Facebook, indicating that Instagram seems to be where the majority of customers reside.


BM9G008 STRATEGIC MARKETING ANALYSIS ASSINMENT SAMPLE

Figure 7: Primark on Instagram

(Source: Social day, 2022)

As the abovementioned figure reflects, customers are going crazy for Primark where they demand online services. As one user sam_b_172 asserted “Please go online Primark”. This reflected that customers are now having the desire to get an e-commerce facility through Primark. Primark is among the few retailers, which has resisted the inclination toward e-commerce, following before lockdown and even after that (Social day, 2022).http://BM9G008 STRATEGIC MARKETING ANALYSIS

Conclusion

Based on the understanding of the above-mentioned discussion, it can be concluded that Primark has taken over the market with its low pricing strategy.

The most fascinating thing, which comes with their low pricing, is their quality of products along with a sustainable approach towards society and the environment. Primark is gaining the market share of the entire globe rapidly due to theoretical strategies which can be threatening to huge corporations such as M&S, Zara, H&M, Calvin Klein, and many more.

However, one thing, which has come to the notice, is that the organization requires a little more attention with respect to their strategies with an online presence as customers are recently hoping to purchase through e-commerce.

Bibliography

Ulkhaq, M.M., Wijayanti, W.R., Dewi, W.R., Prayogo, A., Aulia, F.S., Utami, A.A. and Mustikasari, A., 2018, May. Formulating a marketing strategy of SME through a combination of 9Ps of the marketing mix and Porter’s five forces: a case study. In Proceedings of 2018 International Conference on Big Data Technologies (pp. 109-114).

The Irish Times, 2022. Why don’t Penneys and Primark sell online?. [Online] Available at: <https://www.irishtimes.com/business/retail-and-services/why-don-t-penneys-and-primark-sell-online-1.2797933> [Accessed on 30 March 2022]

Smith, P. 2021. The number of stores of Associated British Foods’ retail division worldwide from 2008 to 2021. [Online] Available at: <https://www.statista.com/statistics/383890/primark-store-numbers-europe/> [Accessed on 30 March 2022]

Kraaijenbrink, J. 2019. Why Is Primark So Successful? The Power Of Alignment. [Online] Available at: <https://www.forbes.com/sites/jeroenkraaijenbrink/2019/01/22/why-is-primark-so-successful-the-power-of-alignment/?sh=6a4c46e1769d> [Accessed on 30 March 2022]

MKFM, 2020. Primark’s first ever range of environmentally friendly products are available at centre:mk. [Online] Available at: <https://www.mkfm.com/news/local-news/primarks-first-ever-range-of-environmentally-friendly-products-are-available-at-centremk/> [Accessed on 30 March 2022]

Rigby, C. 2019. How Primark marries digital engagement with store-only selling. [Online] Available at: <https://internetretailing.net/marketing/marketing/how-primark-marries-digital-engagement-with-store-only-selling-20498> [Accessed on 30 March 2022]

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The Economist, 2022. Faster, cheaper fashion. [Online] Available at: <https://www.economist.com/business/2015/09/05/faster-cheaper-fashion> [Accessed on 30 March 2022]

Mission statement, 2022. Primark Mission Statement. [Online] Available at: <https://mission-statement.com/primark/> [Accessed on 30 March 2022]

Girdhar, A. 2022. What is a Customer Journey Map?. [Online] Available at: <https://www.appypie.com/create-customer-journey-map> [Accessed on 30 March 2022]

Smith, P. 2021. Share of clothing market held by Primark in the United Kingdom (UK) from 2007 to 2018. [Online] Available at: <https://www.statista.com/statistics/787728/primark-clothing-market-share-united-kingdom-uk/> [Accessed on 30 March 2022]

Robertson, L. 2021. How Ethical is Primark?. [Online] Available at: <https://goodonyou.eco/how-ethical-is-primark/#:~:text=Primark%20is%20a%20member%20of,items%20to%20those%20in%20need.> [Accessed on 30 March 2022]

Primark Stores Limited, 2022. This Is Primark. [Online] Available at: <https://www.primark.com/en-gb> [Accessed on 30 March 2022]

Makortoff, K. 2020. Primark reports ‘phenomenal’ trading since lockdowns ended. [Online] Available at: <https://www.theguardian.com/business/2020/dec/04/primark-reports-phenomenal-trading-since-lockdowns-ended-covid> [Accessed on 30 March 2022]

Berman, B., 2020. Paths to purchase: the seven steps of customer purchase journey mapping. Rutgers Business Review, 5(1), pp.84-100.

Kuruvilla, S. and Li, C., 2021. Freedom of association and collective bargaining in global supply chains: a research agenda. Journal of Supply Chain Management, 57(2), pp.43-57.

Eisenberg, P., 2019. Financial Analysis of Primark Stores Ltd. with regard to a Stock Exchange Floatation (IPO). International Journal of Management, 7(1), pp.91-112.

Social day, 2022. No-Sell Social: How Primark Maximised Its Online Presence During Lockdown. [Online] Available at: <https://www.socialday.live/features/how-primark-maximised-social-media-presence-lockdown#:~:text=Although%20Primark%20continued%20to%20engage,social%20media%20and%20influencer%20content.> [Accessed on 30 March 2022]

Nagaraj, S., 2020. Customer Engagement by Fashion Brands: An Effective Marketing Strategy. In Circular Economy and Re-Commerce in the Fashion Industry (pp. 161-175). IGI Global.

Muñoz, C.F., Pérez, F.A. and Zapata, C.M., 2020. Sensory marketing in the women’s fashion sector: The smell of the shops in Madrid. Revista Academia & Negocios, 7(1), pp.31-40.

Eisenberg, P., 2019. Financial Analysis of Primark Stores Ltd. with regard to a Stock Exchange Floatation (IPO). International Journal of Management, 7(1), pp.91-112.

Palazón, M., López, M., Sicilia, M. and López, I., 2022. The customer journey: a proposal of indicators to evaluate integration and customer orientation. Journal of Marketing Communications, pp.1-32.

Ivanov, D., Tsipoulanidis, A. and Schönberger, J., 2021. Operations and supply chain strategy. In Global supply chain and operations management (pp. 87-124). Springer, Cham.

Appendix: Consumer mapping journey

The consumer mapping journey is a visual representation of the user’s journey across the website, beginning with the very first contact or investigation and extending through to the long-term commitment and engagement loop. In this respect, the core elements of the consumer mapping journey are awareness, consideration, purchase, service, and loyalty expansion (Berman, 2020).

BM9G008 STRATEGIC MARKETING ANALYSIS ASSINMENT SAMPLE

(Source: Girdhar, 2022)

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