Swot Primark
SWOT
Strengths • Primark, being a subsidiary company of Associated British Foods, increased rate of growth earned 3.5bn more than double the amount in the last 5 years. (Primark 2013) contributes to the employment of more than 700,000 workers across three continents (Primark, 2013). Game Changer Award in recognition of work in ethical sourcing. (Primark, 2012). Member of the ETI (Ethical Trading Institute). Strong link in loyalty and uniqueness to their customers. Primark has over 125 stores located in the UK. Ability to provide low cost goods. Primark reviews their ways on how to improve their products and services, by using their strategic elements as keys in achievement of their goals. Continued optimized commitment to effective governance is one step to achieving the standard for excellence in corporate responsibility. Mentioned by word of mouth in high fashion magazine, i.e. Vogue. • Legal implications towards the creation of similar products from other retailers, which can affect their growth and profits. Even though Primark is a member of the ETI; continuous scrutiny concerning Primark’s business operations in production of their goods. A documentary was shown highlighting that Primark had previously used child labour in production of their goods. Primark does not advertise in the print media or electronic media. Shops tend to be crowded and customer services are not first-class. Reliant on suppliers. Weaknesses
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Opportunities Threats
• Strategic planning to become more global in the marketing environment. Target the market through the advancement of technology, i.e. emarketing and e-commerce (online shopping). Primark to promote its own unique clothing line with a logo for branding. • • Competition in online shopping purchasing. Other retailers, such as Zara, H&M, Matalan are proving to be significant competitors.
Strengths • Primark, being a subsidiary company of Associated British Foods, increased rate of growth earned 3.5bn more than double the amount in the last 5 years. (Primark 2013) contributes to the employment of more than 700,000 workers across three continents (Primark, 2013). Game Changer Award in recognition of work in ethical sourcing. (Primark, 2012). Member of the ETI (Ethical Trading Institute). Strong link in loyalty and uniqueness to their customers. Primark has over 125 stores located in the UK. Ability to provide low cost goods. Primark reviews their ways on how to improve their products and services, by using their strategic elements as keys in achievement of their goals. Continued optimized commitment to effective governance is one step to achieving the standard for excellence in corporate responsibility. Mentioned by word of mouth in high fashion magazine, i.e. Vogue. • Legal implications towards the creation of similar products from other retailers, which can affect their growth and profits. Even though Primark is a member of the ETI; continuous scrutiny concerning Primark’s business operations in production of their goods. A documentary was shown highlighting that Primark had previously used child labour in production of their goods. Primark does not advertise in the print media or electronic media. Shops tend to be crowded and customer services are not first-class. Reliant on suppliers. Weaknesses
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Opportunities Threats
• Strategic planning to become more global in the marketing environment. Target the market through the advancement of technology, i.e. emarketing and e-commerce (online shopping). Primark to promote its own unique clothing line with a logo for branding. • • Competition in online shopping purchasing. Other retailers, such as Zara, H&M, Matalan are proving to be significant competitors.