Primark’s market Segmentation, targeting and positioning are the fundament of modern marketing (Proctor, 2002, p. 188, as cited in Harris and Schaefer, 2015). Segmentation is the process of identifying different macro-groups of customers (i.e. segments) based on their common characteristics. The process of choosing a target segment, on which to focus marketing activities on, is a process named targeting. (Harris and Schaefer, 2015). The case study gives some hints on Primark’s segmentation and targeting criteria, and the following graph analyses those based the assumption that segments are mainly defined by basic on personal characteristics (demographical, socio-economical, geographical, personality or lifestyle based) and "product-related …show more content…
For instance, Primark 's products offer customers clothing as a base product, of witch actual benefits are being to be cheap and trendy, and they may have some return policy as augmented benefit in case of defects. Each product may be realised following a new product development process to improve its success rate (Harris and Schaefer, 2015, p.43-47). Product as an element of the marketing mix is at the base of Primark 's marketing strategy, as it is meant to attract customers researching those very actual benefits which only Primark products should be able to provide. In this Primark also has to be careful, shall other companies adapt their products to provide similar benefits the targeted customers may chose other companies ' products, so benefits may also comport risks for Primark as those are not very specific. Place, intended as the firm 's distribution, and pricing are also important element of the marketing mix used by …show more content…
For example, it would include people with certain disabilities, who does not feel comfortable in shops, in the demand for Primark’s wares. (adapted from Sancino, 2015, p.53-55) The availability of the supply itself could impact the demand as well. Since Primark sells by volume and sells standardized models and uses people’s word of mouth as advertisement it is a vital feature that a model is sold in many locations, but how much Primark can supply will be dependent on extra factors as well. The following examples are related to supply factors which may in turn influence demand. • Taxation and tariffs: governments may apply different clothes taxations, making it more difficult to sell in certain location. This in turn will influence the price as a consequence, mining demand in some countries. • Legislation and regulation: Governments may prevent or allow the sale of Primark’s clothes based on product features, like provenance, materials, and so
Primark’s value for money run on sourcing cheap, reliable products from the suppliers to maintain their competitive pricing advantage across the market (Primark, 2016b). They have set up a broad of activities which helps support its Corporate Social Responsibility (CSR) stance and ensures that its trading meets the company’s values and ethical standards. The foundation of its activities is ‘Primark’s Code of Conduct which ensures that all workers making its products are treated decently, paid a fair wage and work in good working
Terrell, E. (n.d.). Market Segmentation. (Business Reference Services, Library of Congress). Retrieved April 6, 2014, from http://www.loc.gov/rr/business/marketing/
The competitive rivalry is high as the industry is comprises of many clothing retailers. For instance, ASDA’s brands George and Matalan, which provide not only quality garments but also sell them in a low price. Primark may lose a significant number of customers due to the intense
Caroline and Jennifer said that ‘Market segmentation is a crucial marketing strategy. Its aim is to identify and delineate market segments or set of buyers which would then become targets for the company’s marketing plans.’ (Tynan and Drayton, 1987) There are many ways to segment the market, such as age, region, environment, psychology and wages (Hall, Jones and Raffo, 2010).
Brassington (2007) point out that product is not only the physical product, it also include brand, after-sales service, guarantees, installation and fitting which could help product to gain advantage in competitions. Kotler (2007)also point out that product is the goods which is easy for people to be attract, to contract, use and fulfil people’s desire. He also said that the product could be physical products, services, people and organizations.
To begin with, it is crucial to appreciate the meaning of segmentation and targeting because these two terms lay the foundation for this report. Consequently, segmentation is dividing a market, into groups of consumers with homogenous traits in order to provide each group with the desired product. What is the meaning of targeting? It is where an enterprise evaluates every segment with an objective of identifying segments with promising business opportunities. Considering the nature of the product in question, it sufficed to mention that liquor- filled chocolates are to be sold to adults.
Primark was one of the companies sourcing their garments from the site, leaving not at an internal crisis, but gave a cause of concern towards their code of conduct (Appelbaum, and Lichtenstein, 2014). They ultimately took ownership in their Corporate Responsibility (CR) role, by providing immediate help to families involved through aid and helpdesks (Primark, 2016c). They have insisted to proceed to commit to their CSR in providing support and have committed over $14m in aid in short and long term compensation (Primark, 2016c). In 2015, Primark launched the ‘Pashe Achi’ project, in aiming to improve working conditions and help support families financially for their future well-being (Primark,
The principles of marketing (The Times 100, n.d) are a range of processes concerned with finding out what consumers want, and providing it for them. This involves the ‘4ps’ of marketing; price, place, product and promotion. The product decision in any company involves dealing with goods that should be offered to a group of customers (Jobber & Ellis-Chadwick, 2012). Burberry maintains a product line with great width and scope in which their products fall into two main categories; fashion or continuity. Their fashion products are designed to be responsive to fashion trends and are introduced on a collection to collection basis (Burberry, n.d). Continuity products however have life cycles that are expected to last for a certain time period. Burberry also has 3 primary collections; womenswear, menswear and accessories, with the variety of products they can utilize their product mix greatly. Burberry also has...
In the service industry, products are produced to satisfy the needs and wants of the target market. The production and consumption of the product are simultaneously done. Besides that, the product is different, intangible, and unstable. Moreover, the product should meet consumers’ needs or how they want it for. Additionally, it should perform and it should be what the consumers are expecting to get (Turnbull, 2012).
“The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix - Price, Product, Promotion and Place. However, nowadays, the marketing mix increasingly includes several other Ps like Packaging, Positioning, People and even Politics as vital mix elements.”
Market segmentation refers to the technique of differentiating an extensive consumer or business sector within the other side. The process involves current as well as prospective consumers that are based on some types of features. Within the market system nowadays, there exists various segmentation which identifies the kind of industry framework which should be adopted in this modern time. The shoe organization that this paper explores is in the nation of Bahrain; for the reason that Bahrain shoes manufacturing firms are identified to be in a growing development in comparison to other countries.
Dickson, P. R., & Ginter, J. L. (1987). Market segmentation, product differentiation, and marketing strategy. Journal of Marketing, 51(2(April 1987)), 1-10. Retrieved from http://www.jstor.org/stable/1251125
Segmentation can also be done through variables; Geographic, Demographic, Psychographic and Behavioral Segmentation, or segmenting international markets (Dudovsky, 2012). Kotler (1999) was cited in Dudovsky (2012) suggesting that international market can also be segmented by geographic location, grouping of countries or sub-cultural segmentation.
Market segmentation means dividing the market into distinct groups that have common needs and will respond similarly to marketing action. Each segment must be unique, have common needs, and respond in a similar manner to marketing efforts. Target market is the group of potential customer that has been selected by business to focus its marketing efforts towards. This is the group the business wants to sell its products/services to. Positioning refers to the image created in the minds of customer of its product or brand. It is a perception created in the minds of the consumer relative to that of its competitors.
... company will have a better scenario of the customers' needs and requirements. All the marketing standards and principle aid company profits and will keep shareholders having the benefit of high dividends in the long-term.