Marketing Strategies at Primark
Task 1
Primark, leading retail group
Company Introduction
As a retail business organisation, Primark has come up with its innovative and noble idea to avail its fashionable clothing for everyone regardless of social class or status. Primark as everyone’s brand has become a major thrust to the English retail industry. It has successfully created a major impact on the people’s behaviour through the introduction of fashionable quality products for low price value. The marketing policy of the company is great as it tries to maintain customer loyalty by following their motto “look good, pay less”.
Primark also maintain their business strategy for the production and selling of their goods as they buy most of their clothes from same factories as other fashion retailers. The people who are producing them get exactly the same price irrespective of the label and price in shop. In order to maintain quality with price the management of the company follows some strategies like sourcing supply cheaply, buying cloths directly from the factories with own personnel, making them with simple designs and fabrics, maximum are made in the most popular sizes, purchasing stock in bulk amount and varieties and targeting the core customers that is the young people who are under 35 years and bit conscious about the current fashion and high quality at the value for money prices. The secret of their success also lies with the price which is possible for the low mark ups and big volumes selling. They spend inexpensive advertising campaign which makes it possible to keep their overhead cost low. And all of this became possible only for their effective leadership skills and managements strategies.
Primark is a world renowned company for its brand name ‘Penney’. It has become one of the largest retail groups in the value sector and presently operating near about 187 stores in UK, Ireland, Holland, Spain and Germany. More than 27,500 people are working at Primark. In Great Britain the TNS
Primark, leading retail group
Company Introduction
As a retail business organisation, Primark has come up with its innovative and noble idea to avail its fashionable clothing for everyone regardless of social class or status. Primark as everyone’s brand has become a major thrust to the English retail industry. It has successfully created a major impact on the people’s behaviour through the introduction of fashionable quality products for low price value. The marketing policy of the company is great as it tries to maintain customer loyalty by following their motto “look good, pay less”.
Primark also maintain their business strategy for the production and selling of their goods as they buy most of their clothes from same factories as other fashion retailers. The people who are producing them get exactly the same price irrespective of the label and price in shop. In order to maintain quality with price the management of the company follows some strategies like sourcing supply cheaply, buying cloths directly from the factories with own personnel, making them with simple designs and fabrics, maximum are made in the most popular sizes, purchasing stock in bulk amount and varieties and targeting the core customers that is the young people who are under 35 years and bit conscious about the current fashion and high quality at the value for money prices. The secret of their success also lies with the price which is possible for the low mark ups and big volumes selling. They spend inexpensive advertising campaign which makes it possible to keep their overhead cost low. And all of this became possible only for their effective leadership skills and managements strategies.
Primark is a world renowned company for its brand name ‘Penney’. It has become one of the largest retail groups in the value sector and presently operating near about 187 stores in UK, Ireland, Holland, Spain and Germany. More than 27,500 people are working at Primark. In Great Britain the TNS