Primark Essay
According to Best Use of BCG matrix (2010) it can be use to access the relative growth rate of the organization against the industry average. According to Saaksvuori Antti and Jmmonen Anselmi (2008) PLC can be used both proactively and retrospectively. Proactively, Primark need to access how it think that its product will perform through its PLC and a marketing strategies and marketing mix that should accompany each stage. Grant R.M. (2002) has stressed retrospectively, as a tool of assessment that when Primark can enter into particular market with a new product.
1.4 comparison and contraction Porters five forces model and SWOT analysis
Porter M. (1985) has developed a five forces model for Industrial analysis. He says that industries are influenced by five forces, they are as follows,
Barrier to entry: According to Micheal Porter …show more content…
(1985) it includes cost advantages, access to raw materials and components, economies of scale, switching costs and access to distribution channels this all factors creates barrier to new entrance in the industry.
Buyer’s power: It includes price sensitivity, brand identity and buyer concentration and volume.
Degree of Rivals: According to Micheal Porter (1985) Concentration of industry, exit barriers, product differences, diversity of rivals and industry growth.
Supplier power: It concentrates on Concentration of suppliers, switching costs, possibility of forward integration, and importance of buyer to supplier.
According to Richard D. (1994) SWOT analysis is very useful technique in looking at the overall future of an organization, as well as considering the launch of new marketing activity. According to Pahl N. and Richter A. (2007) SWOT analysis covers the following aspects, of which the first two considerations look at the internal workings of the organization.
Strengths: what is organization good at? Based on the key advantages over the competition, in terms of its products and services as well as facilities.
Weaknesses: It concentrates on the area need to improve. It is more of constructive type.
Opportunities: It takes in to consideration of market it is based on external factors such as transportation, decrease in competition
etc.
Threats: It depends upon the danger which can be cause by external changes or market changes.
Porter’s five forces model can be use to make qualitative evaluation of Primark strategic position. It is also useful for specific condition. But according to Porter (1980) it should be used at the line-of-business industry level. A firm like Primark who competes in a single industry should develop at least one five forces analysis for its industry. According to Pahl N. and Richter A. (2007) once important issues identified they can be feed in to the marketing objectives. SWOT analysis can be use in conjunction with other tools for audit and analysis, such as PEST analysis. SWOT is very popular because of its simplicity and easy to learn feature.
1.4 comparison and contraction Porters five forces model and SWOT analysis
Porter M. (1985) has developed a five forces model for Industrial analysis. He says that industries are influenced by five forces, they are as follows,
Barrier to entry: According to Micheal Porter …show more content…
(1985) it includes cost advantages, access to raw materials and components, economies of scale, switching costs and access to distribution channels this all factors creates barrier to new entrance in the industry.
Buyer’s power: It includes price sensitivity, brand identity and buyer concentration and volume.
Degree of Rivals: According to Micheal Porter (1985) Concentration of industry, exit barriers, product differences, diversity of rivals and industry growth.
Supplier power: It concentrates on Concentration of suppliers, switching costs, possibility of forward integration, and importance of buyer to supplier.
According to Richard D. (1994) SWOT analysis is very useful technique in looking at the overall future of an organization, as well as considering the launch of new marketing activity. According to Pahl N. and Richter A. (2007) SWOT analysis covers the following aspects, of which the first two considerations look at the internal workings of the organization.
Strengths: what is organization good at? Based on the key advantages over the competition, in terms of its products and services as well as facilities.
Weaknesses: It concentrates on the area need to improve. It is more of constructive type.
Opportunities: It takes in to consideration of market it is based on external factors such as transportation, decrease in competition
etc.
Threats: It depends upon the danger which can be cause by external changes or market changes.
Porter’s five forces model can be use to make qualitative evaluation of Primark strategic position. It is also useful for specific condition. But according to Porter (1980) it should be used at the line-of-business industry level. A firm like Primark who competes in a single industry should develop at least one five forces analysis for its industry. According to Pahl N. and Richter A. (2007) once important issues identified they can be feed in to the marketing objectives. SWOT analysis can be use in conjunction with other tools for audit and analysis, such as PEST analysis. SWOT is very popular because of its simplicity and easy to learn feature.