Primark Analysis Essay Example

Primark Analysis Essay Primark is an Irish clothing brand, with over 200 stores over the world in countries such as Ireland, United Kingdom, Germany, Spain, Portugal, Netherlands or Belgium. It is considered one of the most important ‘fast fashion’ leaders in the UK retailing market. Its main and notable differentitive key points is producing large volume of clothing and selling them at a very cheap price. It has several lines to cover as many targets as possible such as women clothing, men clothing, shoes, accessories, baby clothing, children clothing, underwear, swim wear, night wear and house clothing. It has different brands for each sector, the main ones are: Atmosphere — womenswear/footwear Active meanswear Backswings womens and mens sports brand Beach club- Luggage, ladies beachwear Butler Webb — Premium formal menswear Cedarwood State — casual menswear Denim Co. — womenswear, casual mens and childrenswear Early Days — babywear (newborn-23mnths) Essentials Basic Cheaper Items Girl 2 Girl — young girlswear (2yrs-7yrs) Limited Edition — womenswear Opia accessories Primark Beauty Cosmetics Primark Home — home items Rebel Junior — younger boyswear (2yrs-7yrs) Rebel Senior — older boyswear (7yrs-13yrs) Ryans value Socks Secret Possessions — lingerie, womens nightwear Young Dimension (YD) — older girlswear (7yrs-13yrs) 1 Primark is not destacable for its trendy, high fashion product but for its simple design and fabric products with a low value price affordable for everyones pocket. I decided to choose Primark because as i chose Louis Vuitton for my CRM analysis I thought it would be interesting to analyze a complete opposite market brand. In my opinion, i thing it is very interesting to analyze how a brand like Primark has evolutioned and has taken advantage of the recession period and has made his best of it. We will write a custom essay sample on Primark Analysis specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Primark Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Primark Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer TARGET AUDIENCE It is not difficult to identify a Primark consumer, it targets males, females and children within the mass market. The age of its target customers are from early teens to the middle aged (mostly women buying for the family) with a low budget or no interest in the latest fashion. As I said before, it s for customers looking for simple design, simple fabrics. ? Demographics: Age and gender: Young women and men (more women) in average under 35. Family size: Either for young single people or mothers buying for all the family. Income: Generally low income, not much disposable women so they shop in Primark to be able to have a larger variety of clothes Occupation: Students with no jobs or part-time jobs and people with low-paying jobs. Education: Primark consumers are not fashion educated Race: All kind of races, i think immigrants are also an important target as the cost of living abroad is already very high so they have less disposable money to spend on clothing. Nationality: People from where their stores are based (Enlish, Irish, Spanish, Portugeese, Germans ) and immigrants living in those countries. Purchasing behaviour segmentation: User occasion: The occassions in which Primark clothes can be used is very broad due to its large sector coverage, informal occassions, formal occassions, at work, in school/college/university, etc Benefits wanted: Primark consumers are not expecting high quality or long lasting products. They want disposable products. Loyalty level: Generally Primark comsumers are not classified as True Friends, they are loyal because they have no access to more expensive brands, but if their disposable money was higher they would go somewhere else. Readiness to purchase: As prices are so cheap consumers dont get stoped by this factor, they are usually quite impuslsive because they know that if they dont buy it, 1 hours later someone is going to buy it and they will loose their opportunity. Geographic segmentation: Country: Countries where stores are located (Ireland, United Kingdom, Germany, Spain, Portugal, Netherlands or Belgium) Actual Street: Primark stores are locate in relatively big cities but not the most cosmopolite ones. Climate: they have stores in cold countries as well as in warmer countries (UK or Spain) Hemisphere: All of Primark stores are located in the north hemisphere. Psycho-graphic segmentation: Social class: Low socioeconomic class, they have low disposable money. Lifestyles: Students or working poeple Personality type: Low fashion oriented, they dont care about what others think of their way of dressing. Spending attitude: Usually they dont have a lot of money to spend so they usually are careful about on what they spend it on. MOSAIC According to the UK’s mosaic classification I would say Primark consumers belong to the groups: Group H: New Homemakers New Homemakers live in homes which are likely to have been built only in the last five years. These homes can take a variety of forms: small well appointed flats in new brown field inner city locations suitable for young, single people, many of whom rent from private landlords; small starter homes designed for people on average incomes; mixes of flats and houses in larger new developments where local councils have required developers to include some affordable housing alongside more luxurious homes. Learning how to use financial products, surviving on a budget and managing debts are concerns for many in this group. It is a market for which many suppliers can productively convert to direct debit as a means of payment and for email as a means of billing. Group K: Upper Floor Living Upper Floor Living people are on limited incomes and rent small flats from local councils or housing associations. Typically these people are young single people or young adults sharing a flat. They may also be single people of older working age or even pensioners. Group O: Liberal Opinions Liberal Opinions are young, professional, well educated people, cosmopolitan in their tastes, liberal in their views, who enjoy the vibrancy and diversity of inner city living. These neighbourhoods also contain a high proportion of the country’s students living in term-time accommodation, whether in halls of residence or shared accommodation. Basically they are people with limited incomes or no incomes (students) not fashion educated, young, they dont live in the center of the city and in small flats. ACORN Primark consumers belong to the comfortably off, moderate means and hard pressed groups. Starting out, secure families, settles suburbia, prudent pensioners, asian communities, post industrial families, blue collar roots, struggling families, burdened singles, high rise hardship and inner city adversity. ? PEN PORTRAIT Primarks target audience can be described as students, young women or men with no taste for fashion or middle aged people that pertain to a low socio economic class. I asume they dont have important positions at work because they dont have a large amouunt of disposable money or they simply dont care about quality or design. They could be classified as late majority or laggard consumers. They dont want to be fashionable or they dont care, they just want clothes to wear. They would like to have a higher income to be able to spend more money in clothing. Usually they like going out because they are young and to socialise with other poeple of their kind. They are in school or university or they are in their first years of their career. They prefer to save money on clothing and spend it going out or spending it on their families. They are concerned about on what they spend their money on. FRAME OF REFERENCE Primark is a discount brand, for people with very low income but he has completely rebranded and repositioned itself in the market to also try to become a major player in the mass market sector. Its main competitors are basically supermarket fashion brands ? , brands like George by Asda that combine ‘fashionable’ clothes with extremely affordable prices. Its main competitors are Matalan, Peacocks, George @ Asda or Florence and Fred @ Tesco. I think these are its main competitors because their ranges of price are similar and the clothes are both simple and low quality. ? 1 ? Picture 1 belongs to the Matalan collection and picture 2 to a Peacocks advertising, we can appreciate similarity in style with the pictures of Primark above, and see that the designs of this pieces of clothing is quite simple. The Marketing Mix consists of four major components: product, price, promotion and place. Marketing is more than simply selling a product. The marketing mix informs customers i n a way that helps them decide if the product suits their needs. It focuses on making a product available at the right place, at the right time and at a price that is acceptable to customers. Primarks market research and strategy enables them to ensure that an image is created, sustained and reinforced which is entirely appropriate to its customer and the retail trading environment. Primark has created a marketing mix that identifies, anticipates and satisfies its customers needs while contributing to the success of its operation. Primarks image and product are communicated to the consumer through PR, advertising, sponsorship and store design so that consumer expectations are met.