This report explains about marketing concept, its important and critically evaluates the nature, role and vale of marketing activities of Primark retail store. Marketing concept is an ever learning and never ending concept. Marketing plays a vital role in any organization’s success. The concept of marketing is being redefined all the time. In early days people used to think the function of marketing is nothing but the establishment of contact between the seller and the customer (Cherington, 1920). But marketing has much more to offer than being just a source for establishment of contact between seller and customer even though the main motive is the earlier. Slowly people started understanding the importance of marketing for the success of any business or organizations like profit making or non-profit making organizations. Many have defined the marketing concept so far, according to David Jobber marketing concept is “The achievement of corporate goals through meeting and exceeding customer needs better than the competition” (David Jobber, 2001). Procter has modified this opinion and he has given another modern definition for marketing. According to Proctor marketing concept is “satisfying the full range of stakeholder requirements” is very important and this can play a vital role in organization’s success or to achieve the targets of any organization (Proctor, 2007). I have chosen Primark as the organization to critically evaluate the nature and marketing activities.
Primark is the winner of the ‘Multi Market Retailer of the Year 2010’ (Oracle world retail awards, 2010). Primark stands in the second position when comes to the rankings in the clothing retailer industry by volume. Primark is one of the fastest growing European multi market retailers. Primark has more than 200 stores across UK, Spain, Germany, Netherlands, Portugal, Belgium and Ireland. Primark is the number one place for budget shopping. People say that customer pocket feels safe and secure when he/she enters Primark because this is one place that offers all kinds of verities and new fashion cloths fairly at low price than any other retail store. Primark leads the “fast fashion” trend by offering huge verities of cloths that are cheaply priced for now a day’s high street. Primark is growing very rapidly by offering a blend of variety and competitive pricing. Primark is holding a key position in the market because of its competitive pricing only. Primark has an association with Associated British Foods (ABF), which supplies different verities of local and international foods. The key secret for Primark’s huge success even though it offer very cheap prices is, Primark gets its most of the cloths manufactured from countries like India, Bangladesh, China and Turkey. Primark chose these countries because of the lower labour and material costs in those countries. SEGMENTATION:
Segmentation is the process of identification of different segments like geographic, psychographic, behavioural, and demographic. These segments are not identical and different from each other. These segments will make firm’s life easy to understand the customer needs and satisfy them (Jim Blythe, 2005). This segmentation includes many factors like geographic analysis helps the organization to understand about where their customers are living and climatic conditions of that area. An organization like Primark has to understand these climatic conditions and design cloths according to that. There are some other segments like psychographic which will make the firm to understand about the personality type of the customers that live in a particular area and another segment called behavioural which will explains the firm how to use the situation and benefits. For example in the society there are different classes of people rich, middle, and below the poverty line according to the situation and their needs and usage organization has to design...
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7. Oracle world retail awards. (2010). Information retrieved from website: http://www.worldretailcongress.com/world-retail-awards-index.cfm.
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