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Scanning Marketing Environment

MISSION STATEMENT:

To provide clothing with high quality, fashion basics at value for money prices to people age under35.

http://www.dooyoo.co.uk/offline-shopping-misc/primark Accessed on 08-08-2008

 

VISION STATEMENT:

 

The vision of the company is to spread its stores form Great Britain to the whole world and become the leader of cloth retailer business. To achieve its vision company is expanding its new stores in the different European courtiers. It is operating its business in an efficient way keeping its employees motivated, keeping a tight and good relationship with suppliers and customers.    

VALUES STATEMENT:

 

Primark give a great importance to the value of organization as follows:

 

  • Primark give a great importance to its customers by offering high quality, fashion basics products. It collects its young, modern and dynamic designs from different parts of the world.
  • It also provides its customers with high Street locations, superior store fit and clear focus on the target market.
  • Values for employees of Primark are fulfilled by providing excellent working conditions, handsome salaries, respect and many other benefits at all levels.
  •  Primark also have got a great importance for the communities in which it operates and fulfills its corporate social responsibility by helping the community in a different ways.

 

Simplified Strategic Planning By Robert W. Brandtrad and J. Peter Duncan 1996

 

 

PORTER FIVE FORCES ANALYSIS:

 

Business management by P.B. Publications Global competitive environment 2005 Edition

 

Bargaining power of customers

Global textile & clothing industry is about US$ 440 billion. US and European hold 64% of clothing share in the world clothing industry.  There is always a threat of new entrants like China and India who are producing the low cost quality garments products. India exports for textile are expected to grow to US$ 40 bn would be capturing a market share of close to 8% till 2010. These statistics can increase the customer bargaining power that has the alternative of imported products of different countries in the different brands garment stores. By analyzing Customers want better quality products at a lower price. Satisfying this want might force down the profitability the industry. Just how strong the position of customers is dependent on several factors:

How much the customer buys i.e., Primark has the policy to give high discount rates to the customers on bulk purchase;

Switching cost of the product i.e., Primark always satisfies the customers so the customers will not take the risk to switch from Primark this we can say that bargaining power of customer has increased.

Textile & cloth  industry: Porter analysis By Equity Master Agora Research Private Limited M 31, 2006

 

Bargaining power of suppliers

 

Primark has a significant number of suppliers and the standard policies are being maintained to satisfying and bargaining to them and Primark always gain high advantage of making these policies. India is the third largest producer of cotton in the world which is a key raw material in the textile and garment industry. The best quality cotton is produced in Pakistan. They are the major suppliers of low cost cloth. If they increase the cotton and textile made unfinished white cloth they certainly have the bargaining power but world buyer have a lot of control on their prices.

 

Threat of new entrants

 

Primark has a great variety of garment products so it would be too difficult to entry and compete in this industry with the same or competitive prices. Primark has its own stores for its brands. So, it is very difficult for new entrants to make a chain of retrial stores in competition of Primark. Resultantly, smaller players who cannot venture into the global markets like Primark. Be it denim (Arvind Mills), home textiles (Welspun and Alok Industries),   branded apparels (Raymond) are the names of few new entrants in the European market but first they have to make a mark in the world market. In the short run Primark has no big threat from new entrants but in long run it certainly can be an increase in competition.

 

Textile & cloth industry: Porter analysis By Equity Master Agora Research Private Limited M 31, 2006

Threat of substitutes

Garments has substitute products which are the garments itself but there can be a major change in fashion that can affect the current product likes and dislikes pattern of people which can cause a substitute garment product. Primark has sufficient number of fashion designers who update them selves in fashion industry every day and also create new trends in such industry, which causes to mitigate this threat of substitute products. Low cost producing countries like Pakistan and Bangladesh (labor cost 50% cheaper) are also posing a threat to India's exports demand. In fact, players like Arvind Mills have already started feeling the pinch as overseas buyers have started shifting to 'alternative sources', thus impacting their incremental volume off-takes.

Competitive rivalry

Global competitors like Mexico, Turkey and China, US, Europe and Japan are emerging and producing many brands of cloths/ many of those brands are specialized in a particular type of garment or many other cloth wear. They are a huge rival fro Primark. Technology Up gradation, up gradation of the textile and jute industry, lesser export barriers are certainly creating more compaction for the Primark and will also create competitive pressures.

The intensity of competitive rivalry within an industry will affect the profitability of the industry. Primark always leads in competition by its latest design and variety of products. The major competitors in the industry of sports wear are Nike and Rebock. Primark is already facing a sever competition but it has its own stores which distingue it from its competitor. 

 

 

MARKETING CHANGES IN FUTURE

 

  • Just some time before, Primark was a company operating in Great Britain but now it has started to expand in international markets. It now has to change its marketing according to a muti-domestic way to advertise and market its product according to different cultures and traditions of specific country.

 

  • Marketing of a garment company changes as the fashion changes. Primark has a number of policies to tackle the changes of market conditions such as Primark appointed highly experienced fashion designers who always update and also create the new designs in garment industry. Our designers are also well known as the trend setters in the international market.

 

Marketing management by Philp Kotler 2001

 

REFRENCES:

 

MISSION STATEMENT:

 

Applied strategic planning by Leonard Goodstein 1997

 

VISION STATEMENT:

 

Strategic Planning by John Bryson 1983

VALUES STATEMENT:

 

Simplified Strategic Planning By Robert W. Brandtrad and J. Peter Duncan 1996

 

PORTER FIVE FORCES ANALYSIS:

 

Business management by P.B. Publications Global competitive environment 2005 Edition

 

Textile & cloth  industry: Porter analysis By Equity Master Agora Research Private Limited M 31, 2006

 

MARKETING CHANGES IN FUTURE

 

Marketing management by Philp Kotler 2001

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