In this article, would be critically analysing the value of segmentation and the role it takes on in any market environment. Potential buyers are too numerous atlanta divorce attorneys market with wide Varity based on desires, location buying behaviours and routines. Moreover, the companies themselves vary broadly in their talents to serve different segments to the marketplace. Because of this nowadays companies practice goal marketing -"identifying market segments, selecting one or more of these, and developing products and marketing mixes customized to each portion" (Kotler, 1997).
'Primark' is a brandname to be critically analysed in terms of its Segmentation, Targeting, Differentiation and Setting strategies that happen to be the main basics of a person -driven market strategy. Now Primark is a major UK retail group specialised in clothing sector, which is owned by the Associated English Food. Primark have been very successful above the recent years an constantly increasing its market talk about over time and statistics indicates that from 2008-09 its market shares rises by 2% with gains on the increase, while it competitors are on the Have difficulties due to financial crisis occurring in Europe. In fact is during the crisis Primark captured large market talk about and have extended in other countries Europe. It functions 207 stores in the UK and Ireland Spain, and just lately in Bulgaria, Germany and Portugal.
Marketing mixture & market segmentation. Because of high competition that is already in existence in department stores and traditional fashion retail market. It therefore means that Primark has a a great deal of competition all aiming on a single focus on customers. The success of Primark was because of the facts it interrelate powerful marketing combination with market segmentation. The marketing combine refers to Primark getting the right product for the consumers which is trendy clothes at very competitive prices which meets customer Requirement. Primark have an expense benefit over it rivals since all of it productions are processed in growing countries where there is cheap labour. Primark is applying this advantage to catch the attention of price hypersensitive consumers.
Because Primark hold the right product so that it should segment in consumer market. However we would see how this plays a major role down the road this essay. However there is absolutely no single way to segment a market. Therefore, the internet marketer tries different factors in the buyer market to see gives the best segmentation opportunities' (Kotler, 1997). These variables include geographic, demographic, psychographic and behavioural segmentation.
Primark market segmentation strategies Primark used the strategy of market segmentation to split its existing market into smaller segments for which aim for consumers can reach to their products more effectively and successfully. However there are some factors that Primark ingest relation when assessing consumer market sections. These factors include whether sections can be measurable, accessible, significant, differentiable and actionable.
Primark target males, females that are under age 35. They have got chosen a particular market portion that the focus on which will be the under 35, people in lower or middle income occupation making the product affordable for the kids, consumers with or without educational track record, segments with different faith, race and Nationality. Therefore Primark is transcending socio demographic which is a core varying Primark's market segmentation.
Based on physical variables 'dividing the marketplace into different physical units such as countries, regions, status counties, cities or neighbourhood' (Kotler, 1997). Primark have segmented the united kingdom and Ireland's market such that about each sub town in UK have at least one branch. Lately Primark is been segmenting geographically in European countries such as Bulgaria, Germany, Portugal.
Would Primark flourish in segmenting in other part of European countries?
Primark would succeed in Europe because of the two reasons
Fashion it offers to consumers
Most Europeans have similar taste of fashion and Primark is segmenting upon this market of similar flavour of fashions. Primark would never in countries where there is totally different flavor of Fashion
Competitive price of the trendy product it offers to its consumers.
Also because the whole Europe is financial crisis this means that clothing individuals are becoming more price very sensitive with regards to stylish clothes, therefore a affordability strategy is implemented by Primark as it requires the financial meltdown conditions as an edge for to draw in more consumers.
Psychographic segmentation, that's where the market is split into groups predicated on social category, lifestyle, personality characteristics' (Kotler, 1997). For this aspect Primark sections on the lower class, Upper lower, Middle class, however, not on the top category. However since everyone in the upper class have had to endure the current recession, Primark have been around in position to entice some of top of the class.
Behavioural segmentation, ' Primark is dividing market into groups predicated on consumer knowledge, frame of mind, use or respond to a product', because, Primark is offering cheap quality product it attracts both regular and occasion customers and also catch the attention of first time buyers and irregular purchasers. Also because the majority of society are lower and middle income people that means it attracts heavy users of the merchandise.
Now loyalty status is a huge facet of Primark market segmentation. Individuals are adjustable and unreliable because as soon as consumers have a transfer on the course status the commitment position also changes. Consumers on this face would want to move to a higher class by purchasing higher brands in order to specify their lifestyle status. In like manner my viewpoint Primark does not have any loyal customers as soon as there is advertising in conditions of consumers life-style they become unreliable.
Differentiating Primark. The next phase after segmenting consumers market is for differentiate it product from the other existing product for the reason that particular segment. (KOTLER, 1997) 'Differentiation is the procedure of assessing each market sections attractiveness and selecting a number of segment to go into', Therefore when Primark chooses its appropriate sections it targets it segment by offering the buyer more for less value which really is a affordability strategy. Due to such strategy Primark have been effectively attract large numbers of customers.
The other way which Primark must have differentiated itself is by offering services to customers e. g. such as buying the product online with delivering services. Nowadays most shoppers been teenagers, adult, are obsessed with internet. People favor to look online which makes life easier to them. That is one fighting advantages that competitors have over Primark. If Primark were to open an web store it would boom it sales revue speedily.
However, without even offering a web services, Primark continues to be growing faster than its competition this demonstrates Primark is in charge of its respective portion and the marketplace as whole and also to some degree have control over it consumers. Quite simply anticipated to Primark offering cheap popular clothes with fair quality the process of Primark is to pull consumers to their stores and create attention of these products thereby permitting consumers to invest more than expected.
Most of Primark's heavy Users customers are house wives which would look for themselves, kids and perhaps hubby. Now because of this Primark's have selected to provide another diverse range on its product which is house positioning product as this product would entice house wives. THEREFORE I really commend on Primark's focusing on strategies. Since Primark's is newly establishing across Europe an online service can be a good approach to sensitize the new geographic region from it existence and consumers in several areas across can get hold of the product.
Positioning Primark Placement is, "The act of designing the company's offering and image in order that they occupy a important and specific competitive position in the prospective customer's thoughts" (Kotler 1997). Positioning is not about the product but actually what the customer thinks about the merchandise or organisation. It is therefore about awareness and identification of what a product symbolizes for a buyer.
Primark slogan is "Look good pay less" and in reality the slogan works for the consumers as it identifies the quest of Primark's. Therefore Primark have specify its market setting as an inexpensive fashionable clothes merchant so therefore needs to advertise as people already aware of it existence as it is cheap place. This inhibits them to maintain a position of stuck in the middle as competitors such as Grades & Spencer suffer from.
To my viewpoint Primark should maintain steadily its authority cost strategy and lowest on its segment for it to be preserved over very long time. Also efficiency levels have a tendency to shift slightly this should be taken care and attention off. Also Primark is not advertising the sole places you Primark's logo design is in the stores or in handbags. Also Primark most continue with it rate to advertise strategy that is as soon as new fashion comes out they should be capable of rendering it available to get immediately.
I considers in conditions of advertising Primark should produce stylish printout on the carriers stating coming soon so that to appeal to high street buyers. Also sending e-mails to Users about product creates more consciousness. This would give Primark an improved position on the minds of the prospective consumers alternatively than consumers position it on their mind as that cheap place.
