Monday, May 25, 2020

Marketing Strategies at Primark PLC - Free Essay Example

Sample details Pages: 20 Words: 6008 Downloads: 1 Date added: 2017/06/26 Category Statistics Essay Did you like this example? 1.0 Introduction The research report under consideration is aimed to explore the significant role played by Marketing Strategies in todays modern and dynamic business environment. Marketing has gained substantial importance and has become first priority of decision makers in any organisation. This document presents a research report analyzing and forecasting marketing environment faced by leading retailer Primark with special focus on competitive analysis. Don’t waste time! Our writers will create an original "Marketing Strategies at Primark PLC" essay for you Create order Primark Stores Ltd, an Irish upstart and subsidiary of Associated British Foods, is second largest clothing retailer in terms of sales and revenue with its existence mainly in Ireland, UK, Spain and expanding further in the Europe. It is believed that soon it will become leading clothing retailer. This extensive research is aimed at exploring current marketing strategies adopted and evaluating their effectiveness. The critical review of current segmentation, targeting, positioning and branding strategies of Primark and an extensive market analysis is carried out to suggest future marketing strategies and growth areas and to improve and sustain quality of services provided. The expected outcomes of document are recommendations to use marketing strategies tactically in decision making to enjoy sustainable growth. 1.1 Reason for choosing the topic I have selected this topic realizing the fact that in todays intensively competitive business environment, financial successof any company depends on combined efforts of its financial strategy and marketing strategy. In fact, only those companies thrive in business who works closely with their customers; and, marketing has become a successful tool to create a relation with customers indirectly. From small to large, every organisation is realizing that effective marketing strategies can add value and exert tremendous influence over their ability to attract customers, leaving positive impact on companys performance and profitability. Marketing is defined as management process that identifies, anticipates and satisfies customer requirements profitably. It involves integrated analysis, planning and control of marking mix variables (Product, Price, Promotion and Distribution) to satisfy both individuals and organizations objectives (Lancaster and Massingham, 1999). Marketing Environment consists of actors; and forces outside that affect marketing managements ability to develop and maintain successful relationships with its target customers (For further information on Marketing Environment, see Appendix I). 1.2 Reason for choosing Retail Industry and Primark Reason for choosing retail industry for research project is because it is a high profile and constantly changing business at the sharp end, but now-a-days, retail industry in UKis under high pressure as key factors like troubled mortgage and housing market, rising fuel prices and utility bills, high interest rates in UK are challenging retail environment as compared to years of strong growth between 2002 and 2004. Formally retail is defined as sale of commodities to household or ultimate consumers (Barry and Evans; 1986).Retail industry can be categorised in various sectors as food retailers, health and beauty retailers, clothing and footwear retailers, home furniture and household goods retailers etc. But now discount, budget or value retailing in UK has taken on a higher profile over recent years despite effects of recession. Especially interests have largely centered on growth of value or discount clothing retail industry. The organisation under focus in this report is Primark known for selling clothes at budget end of market and it is second largest clothing retailer in UK in terms of sales and revenue. Reason for choosing Primark is its wonderfully sustained growth in the worst recession times of history. Retail clothing industry is a fast moving and complex, high profile and constantly changing business environment which demands that marketing process of a large retail organisation like Primark should be managed strategically. Report is aimed at evaluating marketing strategy of Primark and to determine its effectiveness. 2.0 Primark: A Brief Overview Of The Business Primark is a brilliant and unique organisation with a mission statement to enrich the life of everyone with fashionable clothing regardless of social status. It emerged as major force in the British retail industry, contributing through its low price value and great quality fashion products for everyone in society as a whole and leaves remarkable impact on social, environmental and ethical behavior of people. Primark does not rip off its customers and presents excellent example of it motto which states look good, pay less Primark, (2010). Most of their clothes are bought from same factories as other fashion retailers and people producing them are paid exactly the same whatever label and whatever price in shop. Companys success is based on sourcing supply cheaply, they buy directly from factories without involving any agents, making clothes with simple designs and fabrics, only making them in the most popular sizes, buying stock in huge bulks and varieties and targeting young, fashion-conscious buyers under 35s, offering them high quality, fashion basics at value for money prices. They are able to offer such good value and good quality because of low mark-ups and big volumes. Their overhead costs are extremely low as they do not run expensive advertising campaigns; instead they have wonderful strategic marketing approach that stands them out. 3.0 Marketing Strategy Of Primark Retail clothing industry is a fast moving and high profile business environment which demands that marketing process of a retail organisation should be managed strategically. Strategy of an organisation is roadmap towards attainment of its long term goals and objectives. Strategic marketing management involves implementing principles of strategic management in the context of marketing function in organisation. At corporate level, marketing inputs (e.g., competitive analysis, market dynamics, and environmental shifts) are essential for formulating a corporate strategic plan. Primark has well organized strategic Target marketing and Product marketing approaches in place. 3.1 Target Marketing Approach Strategic marketing is about achieving maximum possible differentiation over competition in meeting customer needs, gaining and sustaining competitive advantage and capitalizing on corporate strength and capabilities. In todays dynamic environment, it is highly important for companies to relate characteristics and attributes of their products to customer requirements more closely. Firms are more concerned with the most commercially attractive segments of market for a given product. This not only increases opportunity but also reduces overall costs incurred by company. This process is called target marketing and it must be carried out systematically to be effective and for this purpose it can be divided into three stages as in Figure; 3.1.1 Segmentation At first stage of segmentation, overall market is divided into distinct groups of buyers who are likely to respond favourably to different products, services or marketing mix. Company needs to determine most appropriate basis for segmentation, identify characteristics for each segment and develop criteria to evaluate their commercial attractiveness and viability. Market segmentation allows managers to see clearly the diversity within their markets and uncover opportunities that may exist or segments whose needs have not been properly met by other offerings. Figure, depicts segmentation criteria for consumer market, determines base of segmentation and explains variables for each base As Primark is tagged a value clothing retailer, clothing is most important and leading item in its product portfolio follower by footwear. Its marketing segments are evaluated on basis of clothing and footwear. Although all above determined segmentations bases and variables are important but demographic factors are the most straight forward base for segmenting Primarks consumer market, as they are most meaningful. Main demographic variables for Primark consumer market are identified as in charts below. All demographic factors are identified according to their percentage relative attractiveness for targeting them depending upon their market share for Primark. Hhighlighted segments in diagrams are identified as most meaningful for Primark and they must be targeted to gain marketing objectives. 3.1.2 Targeting Next stage of market targeting focuses on evaluating and selecting one or more previously identified market segments at which to direct marketing resources, developing an appropriate marketing mix for them and develop segment coverage strategy. This selected segment is made focus of comprehensive marketing plan. Kottler (1984) suggested that in order for market segmentation to be effective each of the segments must be distinct, assessable, measurable, and profitable. Once determined which segment attractiveness factors are important, evaluate each of those factor against selected segments using segment attractiveness evaluation matrix below; There are four different targeting approaches can be considered to develop marketing mix to meet marketing objectives. Undifferentiated marketing is used for one marketing mix, targeted towards whole market and marketing mix (Price, Place, Product, Promotion, Distribution), and targets towards everybody. Differentiated marketing is used for multiple marketing mixes and involves multiple products, targeted towards multiple segments. Focused marketing is for one marketing mix and multiple segments with focus on one segment in particular, who will have control over other segments. Customised marketing is used for one marketing mix per customer as in figure below; For Primark, targeting strategy that I have decided to use is differentiated marketing strategy because we have multiple products and consumers can be segmented into multiple segments, hence best approach to be followed is differentiated marketing approach. Different segments identified are based on age, sex, life style, income level and social status and we have multiple products portfolio that can be targeted towards these various segments. 3.1.3 Positioning In third phase of product positioning all marketing mix elements are designed to fit a given place within a particular segment. This is how consumer perceives products relative position to competitors product which is highly important. It is like developing a marketing strategy aimed at creating and maintaining a desired concept and image for a product or service in consumers mind (See Appendix V for further information). Key to success is identification of attributes that are considered to be more important. Through market research we can identify what factors (attributes) are key drivers of a consumers preference for a brand. For instance, it was identified from a sample of female teenagers that were surveyed, that being trendy and stylish, having a good range of clothing, and good brand reputation, were most important factors for this target market when selecting a preferred brand Young Dimension of fashion retailer Primark. Brand positioning provides insight into brand performance and gives important inputs for marketing communications used to support a brand. Through communications, especially advertising, information can be conveyed about each attribute and in doing so adjust perceptions customers have of brand. As Primark need to reposition the perception market has of its brands from range and quality of clothing to be more trendy and stylish. Primark has emphasized more on in-store service and convenience; and as Budget Fashion retailer, they might want to maintain their current positioning of low price, affordable, but also good value for money. 3.2 Product Marketing Approach A companys performance is closely linked to its marketing strategies. Each companys strategy must be unique since each company is different with respect to customer, brands and competitors. I used Ansoff Matrix to determine product marketing strategies for Primark to set the directions for its business. With this matrix; I plot current and potential products along one axis and current and potential new markets along other axis. Thus it demonstrates low and high risk options and helps to think about business growth with new or existing products in new or existing markets. Each cell of matrix suggests a particular strategic approach. Output from Ansoff matrix is a series of suggested growth strategies. Market penetration is a growth strategy where business runs as usual and focuses on selling existing products into existing markets with good information on competitors and on customer needs. Primark can maintain or increase market share of its current products by a combination of competitive pricing strategies, advertising, sales promotion. Primark has extensive portfolio and it cans secure dominance of growth markets and drive out competitors by more aggressive promotional campaign. For example Primark brand Active, supported by a pricing strategy designed to make market unattractive for competitors. Primark must uses internal promotion strategy by introducing loyalty schemes and increases its usage by existing customer. One of penetration strategy adopted by Primark is expansion of shop floors and opening new stores. Market development is a growth strategy where business seeks to sell its existing products into new markets. There are many possible ways of approaching this strategy, including moving to new geographical markets; for example exporting product to a new country, new product dimensions, new distribution channels, or different pricing policies to attract different customers or create new market segments. I suggest Primark to move online by launching high tech website for online sales. Product development is growth strategy where business aims to introduce new products into existing markets. It requires development of new competencies and to develop modified products which can appeal to existing markets. Diversification is a growth strategy where a business launches new products in new markets. This is an inherently more risk strategy because business is moving into markets in which it has little or no experience. For a business to adopt a diversification strategy, it must have a clear idea about what it expects to gain from strategy and an honest assessment of potential risks. Analysing Primarks position and its strategies over past decade, we can better construct a growth strategy for Primark using Ansoff matrix model below in Figure; 4.2.1 Product Portfolio Analysis Marketing mix refers to set of marketing ingredients and tools a company can use to pursue its marketing objectives in target market. According to Lancaster and Massingham; (1999), it is at marketers decision to choose from an extensive set of marketing components to find right combination while marketing a product. 4Ps form basis of marketing mix. Kotler (1996) describes, Marketing Mix is a social and managerial process by which individuals and groups achieve what they need and want through creating and exchanging products and value with others. Marketing Mix is viewed as combination of elements that contribute to success of an organisation. If market research is carried out effectively, a company can plan a promotion for right product, at right price, and to get it to their chosen market, in right place.Getting this mix right is critical in order to successfully market a product. 4Ps are Product, Price, Promotion, Place as shown in figure below; Primark needs to combine various elements of marketing mix in order to achieve both a competitive advantage in market place and company objectives. Although company has control over these elements of marketing mix, but must cater elements in companys environment over which it has little or no control (figure above). For organisations like Primark although marketing mix must be is consumer-orientated catering not only profitability but also considering customer needs as in figure, Table below shows some of marketing mix decisions for Primark including aspects from each of marketing mix elements. 4.3 Brand Strategy A successful marketing mix contributes to good marketing of a product; hence there must be a brand strategy in place. American Marketing Association (AMA) defines a brand as a name, term, sign, symbol or design, or a combination of them intended to identify goods and services of one seller or group of sellers and to differentiate them from those of other sellers. (See Appendix VI for characteristics of a brand). A strong brand strategy can increase awareness of a company and its offerings in such a way that establishes strong feelings and reactions and a favorable view towards company as a whole. To begin development of brands strategy for Primark, there must be clear identification of Primary Target Customer and/or Client, Competition Product and Service Mix, Unique Selling Proposition First step in developing brand strategy is defining brands. By defining brand, its easy to create foundation for all other components to build on. Brand definition serves as measuring stick in evaluating marketing strategies. Primark has an extensive brand portfolio; Brand portfolio usually refers to companys set of brands and/or products. The logic behind having a portfolio of brands rather than a single brand is possible diversification and risk minimization. Hence brand portfolio is a treasure trove. Next step is to determine our brands objectives, Primarks branding objectives include: Delivers message clearly Confirms your credibility Connects your target prospects emotionally Motivates buyer Concretes User Loyalty Gaining a specific number of new clients in next year Positioning company as an industry leader in next 12 months To succeed in branding company must understand needs and wants of your customers and prospects. Brand objectives should be comprised of company personality, image, core competencies and characteristics. The impressions that it makes as well as words people will use to describe company to others, are basic framework of a brand. With a strong brand company builds credibility, has more influence on its market, and motivates customers and clients to purchase from it. If done correctly company will be looked at as a leader not a follower. Identifying marketing targets enables company to find opportunities available. It gives information needed to focus on buyers that are interested in what company has to offer. This can save both time and money in an ever-changing business environment. Power of brand relies on ability to focus target audiences. That is why defining target market will help to strengthen Primarks brands effectiveness. Target market for Primark is people up to age of 35 who are fashion conscious. Next step in developing Primarks brand strategy is to perform a careful analysis to determine principal barriers that it may face. These barriers are also known as market conditions that can keep your product or service from achieving success. The potential barriers in deploying Primarks brand strategy can competition, timing, financing, location, lack of demand, suppliers not meeting demands and targets. In order to face these obstacles its important to spend time doing a careful analysis of products or service to assist in developing brand, and positioning products in the market. Last step in brand strategy is branding companys identity in marketplace where image is all about appearance of packaging. Its important to realize that packaging always either has a negative or positive influence on purchaser. A negative impression can detour a potential customer, just as a positive reaction can influence a customer to buy. A time to pay special attention to packaging is when going to launch a new brand. If youve already built a strong brand that others recognize often people may not pay as close attention to packaging. Packaging is judged and represented by business cards and stationery, web site, answering system, presentation of finished products. Brand equity does not develop instantaneously. A brand needs to be carefully nurtured and marketed so consumers feel real value and trust towards that brand. When a company manages its brands it has a number of strategies it can use to further increase its brand value. (See Appendix VI for further explanation). Brand strategies that are more suitable for Primark are line extension and introduction of new brands. Primark must focus on its brand management as its a dynamic and a continuous process that needs consistent investment of time and it must be allocated a specific budget as it is much more than mere marketing communications. Due to intangible nature of branding, results may not accrue in a short period of time a it takes time and reinforcement to build customer loyalty. Successfully out-branding its competitors is a continuous battle for hearts and minds of your customers. Proposition that Primarks brand strategy makes is very compelling, attractive and unique among competitiv e offerings. It must also be consistently reinforced throughout all phases of an organization, from senior executives to customer service, business development and even business partners. Primark is respected for quality of its products and cheap prices. If we briefly review business environment and other factors identified in this report for Primark then we may realize that consumer behaviour is changing and business environment evolving across retail industry. Concern is rise in suppliers demands regarding price and costs. If it continues to rise steeply it will damage profits that it is currently enjoying. Reviewing forces and factors faced by Primark and their impact on organisation, it is obvious that Primark is facing many challenges and standing at verge of it survival in long term. Market Research World, 2011 revealed that value fashion sector sees worst decline for first time in over 16 years much to gain of higher-priced retailers, reveals data by TNS Worldpanel Fashion. While fashion discounters such as Primark, Tesco, George and Matalan saw a phenomenal sales increase of nearly 30% last summer, growth has now ground to a hold with sales falling by 1% over last six months. In contrast, sales of most expensive clothing are up by 4%, as shoppers head to generally more expensive retailers such as multiples and mail order retailers. Clothing industry has been globalised. Strategies followed by clothing firms, to survive in a context of strong pressure from retailers and from competition from low-wage countries, are a combination of two trends. First trend is relocation of production to low-wage countries; second one is the development of six added-value activities: niche, Quick Response, full package, innovation, branding and retail. Elaine Giles, Research Manager, TNS says, Shoppers are starting to favour higher priced retailers and premium end of market is performing well. Growth of value sector last year came on back of new store openings and expansions that brought an influx of new buyers, but now sector seems to have reached saturation point. The only way, budget retailers can continue their success is to increase spend of existing buyers, something they may struggle to do given current retail climate. 4.0 Strategic Marketing Environment Analysis Primark is one of the leading value clothing retailers in UK. It is highly crucial for an organization like Primark to periodically review its marketing environment to gain competitive advantage in market. Discount cloth retailing in UK has several characteristics including clearance outlets, core business discounters, planned purchasing at high volume, own-label or branding, relationships with manufacturers, attracting customers with good image and service. There are three different analytical tools used to assess marketing environment of an organisation; Porters Five Forces Analysis, SWOT Analysis and PESTLE Analysis. 4.1 Porters Five Forces Analysis First of all Porters Analysis is carried out which is a technique for identifying forces which affect competition level in industry as shown in figure A below; The threat of new entrants in market is a critical element haunting Primark much as there are less entry barriers including low entry costs, high volume of suppliers, vast market in India and china, higher growth space in market, economies of scale, low capital requirements, access to distribution, government policy, low cost product design, access to necessary inputs. But new entrants in industry are not likely to cut their price to defend their market position. In an industry experiencing fast market growth, patents, proprietary knowledge, and brand reputation are also considered as barriers for companies entering industry. Strategic position of a company depends upon the extent to which what it offers is unique and cannot be replaced by something else. Primark has strong brand portfolio which is its uniqueness. As for some of products, like Primark cheap clothing there are alternatives. But there is no substitute for low price of Primarks products. Determinants of these substitution threats include relative price of substitutes, buyer propensity to substitute. Buyers/customers have greatest impact on Primarks strategies as its vision and strategies are customer focused. Hence, it has to cater changing customer trends, their demands and requirements. Customers volume, customer information level and trends, substitute products pull through, price, product difference, brand identity, impact on quality, buyers profit and incentives are few factors that Primark is facing as major challenge in competitive market. Suppliers might have high impact on Primark if they are bigger company and have less competitive market for their products. Primark is facing big challenge from supplier as it has good and long term relationships with its suppliers build on trust but recently three of its main suppliers are found involved in child labour and Primark has to cut-off ties with them immediately which is definitely a big blow for Primark. Primark pays its supplier competitive price for their products to retain them. Primark maintains substitute inputs, and high volume of supplier to avoid extra costs. Apart from five forces identified by Porters Analysis, there are other factors revealed by PESTLE Analysis challenging Primarks position in competitive market, in figure below; (For PESTLE Analysis, refer to Appendix II; and for SWOT Analysis, Appendix III) Strategic marketing analysis of Primark, using different analysis tools reveal that Primark is expanding globally and being in the global market; Primark has adopted an approach of Think globally, Act locally as stated by Armstrong, (2006). They are expanding globally but cater needs of local market and fashion trends in local culture. Primark supports UKs global role by showcasing the best of British fashion to a global customers as well as it reflects how it builds social cohesion and business ethics between customers and its suppliers. Primark faced a major blow to its reputation on 24 June, 2008 after being exposed by and undercover report by BBC exposing it using child labour. Afterwards, Primarks marketing strategy mainly focused to promote itself as ethical organisation with a clear and strict code of conduct to which all suppliers must adhere and which forms part of the terms of their contract. Primark supports nearly two million people through its supply contracts worth 700 million and is dedicated to improve their standard of living and quality of life. For this, Primark has established Primark Better Lives Foundation (Primark Ethical Trading, 2011 a). In response to the allegations of use of child labour by its suppliers, identified by Panorama (BBC program) Primark stopped buying from three factories in southern India for breaking its Code of Conduct. It also took other major initiatives and is now active member of ETI that announce it Achiever in year 2009-2010 independent audit (Primark Ethical Trading, 2011 b). (For further information on ETI and Primark code of conduct, see Appendix IV) Further apart the positions, greater the opportunity for new brands to enter market, simply because competition is less intense. For example, in fashion retailing there are numerous brands in marketplace all competing with each other across differing core attributes, brand reputation, store presence, price, and clothing quality or trendy and stylish. To show how differing brands might be positioned relative to each other using attribute scores for each brand of fashion retailer we can measure and map brand positioning for respective brands. Figure below shows positioning of a number of fashion retailers using dimensions of price, store presence, and trendy and stylish. Using this list of drivers we can further depict on what we call a perceptual map how different competing brands of fashion retailers in market are positioned according to these drivers. Understanding complexity associated with different attributes and brands can be made easier by developing a visual representation of each market. These are known as perceptual maps and they are used to determine how various brands are perceived according to key attributes that customers value. Perceptual mappingrepresent a geometric comparison of how competing products are perceived (Sinclair and Stalling, 1990). One thing to note is that closer products/brands are clustered together on a perceptual map, greater the competition. Mapping can provide significant insight into how a market operates. It provides marketers with an insight into how Primarks brands are perceived and it also provides a view about how their competitors brands are perceived. In addition to this substitute products can be uncovered, based on their closeness to each other (Day et al., 1979). All of this data reveals strengths weaknesses that in turn can assist strategic decisions about how to differentiate on attributes that matter to customers and how to compete more effectively in target market. 4.2 Competitor Analysis Like any other business, Primark is also facing tough competition from George at ASDA, Tesco, Marks Spencer, TK Max, Costco, Next, Zara, New Look, Peacock and Matalan. Analysis for each major competitor determines that Primark has better business strength and high market share. It has good financial strengths and high profitability but relatively poor quality of management and low standards of technology position. Primark is paying least attention to its marketing strategies. Marketing represents boundary between marketplace and company, and knowledge of current and emerging happenings in marketplace is extremely important in strategic planning exercise. In relation to competition, several external forces and environmental changes are faced by Primark that need to be considered to formulate its marketing strategy. Currently, Primark is facing high competition with quality competitors like Peacock, Matalan etc. They are offering cheap products as well and growing at tremendous speed, threatening position of Primark. Most of Primark customers are switching to rivals because of their quality products and good marketing strategies which Primark lacks. Marks and Spencer, the biggest rival of Primark has very extensive marketing strategies with strong brand portfolio. They do advertisement on almost every media available; while Primark do not use even single media for advertisement. Marks and Spencer offers frequent promotions for its customers, they offer loyalty card, and have online sales portfolio, as well directory sales is among one of their marketing strategies. On other hand Primark is not spending much on marketing, advertisement or promotional activities which is a big setback in their management. From competitors analysis it is clear that even though there are potential threats and certain weaknesses for Primark, but strengths and opportunities can outperform weaknesses and threats. Competitive rivalry can be effectively overcome through deployment of cross-selling, pricing and co-branding and marketing strategies. This approach to sales will not only increase stability of business but also leverage competitive advantage in target market identified. Sales trends of Primark and its closest rival is Marks and Spence is clearly show difference in sales growth of both companies over past three years. 5.0 Impact of Marketing Strategies on Financial Statistics Financial analysis of Primark shows effectiveness of their marketing strategies in a more practical way. They have been operating for several years and they are currently buying out Littlewoods stores, several of the best of which will be turned into Primarks and rest sold for a tidy sum to other retailers. Its a good move that should see the chain expand its empire to reach more customers across UK. Primark has aggressive expansion plans in UK and on the Continent. It plans to open in Holland and Germany next year, as well as launching in Portugal. The Independent has learned that it also wants to open at least one more store on Oxford Street because its existing flagship is overtrading. Primark flagship takes an average of more than 2.5 million in sales a week. Rival Marks Spencer has two stores on Oxford Street, while Next has three. Figure below shows net capital investment and how much of that is spent only on acquisition of new stores and renovating them over past 3 years. It indicates that in year 2007 Primark has 5.4 million sq. ft. selling space that was enhanced to 5.9 million sq. ft. and by end of 2010 it was 6.5 million sq. ft. with a total number of 204 stores. Financial statistics of Primark present an excellent report of how revenue and operating profits soared in recent years unlike other high street retailers. Figures reveal a constant increase in revenue and operating profit over last three years. These figures show growth due to marketing strategies and increase in selling space as well. But for more analysts, increase in profit with increase in selling space is a deception of growth and they are more interested in like for like sales which do not account for increase in sales and profits due to increase in selling space by acquisition and opening more stores. Figure gives a more precise picture of how like for like sales grew over past three years and especially in year 2010 profitability has grown up to new levels despite much weaker sterling/dollar exchange rate compared to last two years and has benefited from consistently strong volume growth. Year 2010 was exceptional for Primark as its revenue increased by 18% with like-for-like sales growth of 6% and benefit of continued investment in new stores. In comparison with other high street retailers profit was 35% ahead and operating margin improved substantially from 10.9% to 12.5%. This improvement was mainly due to sterlings relative strength against US dollar in first half which benefited cost of goods sourced in dollars and sold in second half. However, in financial year of 2011, due to higher cotton prices and freight costs and increases in VAT, already implemented in Spain and in UK from January 2011, it is expected that growth will be eroded. Primark can still continue to lead market by maintaining price leadership strategy and by target marketing strategy in long run. 6.0 Findings Final Conclusion For Primark to continue delivering value across range of its products, it must develop strong marketing as well as has to enter online shopping portfolio. They have to compete with rise of online retailers. Although only 4% of clothing sales are currently made online, this looks set to grow. With many value retailers not yet having capability to trade online, they may be left behind as this channel becomes increasingly important to fashion industry. The value sector has had a huge impact on fashion market over past few years and rest of high street has been forced to slash prices in order to compete. If this influence diminishes, fashion market could become a very different place to trade in. The key challenge faced by Primark is critics who unveiled that Primark is involved in unethical trading using child labour. Other threats are rival companies, customers changing requirement which has become potential implications in implementation and success of new marketing strategies and hinder its sustainable growth its survival in todays competitive world. Primark should focus on brand stretch and family branding strategies to gain competitive edge over competitors. Primark is offering wide range of products for its valuable customers. It has a very extensive portfolio of brands and products to meet changing market needs and demands. But business environment is changing way Primark stands in todays world and it is facing many challenges. With levels of competition ever increasing, even most traditionally confident of organizations like Primark are feeling pressures to stay in the game. As technology is emerging, retail business is taking new shape changing at great speed with increase in number of quality competitor launching better services. Hence, existing clothing retailers like Primark have to divert from their traditional path in response to increasing competition. Another major reason for this transformation is that buyers are developing their taste very rapidly and are becoming more demanding with passage of time. Changes in internal external environment factors like competitive market, globalization factors, demographical and social for ces, ethical forces, technological changes, economical factors and political issues are some other major reasons for various kinds of strategic changes, structural changes, cultural changes, system changes, process changes within organisations. 7.0 Recommendations I conclude following measures for Primark to face challenge indicating which segment of strategy has to follow to achieve these recommendations, concentrate on growth of user-generated content and an emphasis on new distribution channels such as; Redesigning and re launch website with high tech online shopping portal (Market and Product Development Strategy) Expanding market, explore new markets overseas.(Market Development strategy) Brand stretch (Product Development Strategy) Finding new talent of designer (Product Development Strategy) Offer clothing for a mature market 35+ (Market Penetration Strategy) Diversify (Introduce new product line) Introduce range of accessories (Market Penetration Strategy) Expand current product lines(Market Penetration Strategy) Introduce new product lines (Diversification, Market Development) Introduce food Hall or Cafe'(Diversification) Introduce loyalty card or store card(Diversification, Market Development) Add fragrance section and pharmacies (Diversification) Introduce section for electronics (Diversification) Enter in emerging markets like telecom (Diversification) Open new outlets (Market Development) More marketing can be done New market share expanding their range of clothes (Market Penetration) New products expanding beyond clothing to include more shoes, handbags etc(Market Penetration) Start own production factories in countries like china and India to drop cost of production and more less prices (Diversification ) Introduce customized tailoring and on demand preparation of dresses (Product Development Strategy)

Friday, May 15, 2020

The Crossing Of The Delaware And The Victory At Trenton

AE’s â€Å"The Crossing† is an exceptional dramatization of the crossing of the Delaware and the victory at Trenton. It depicts the actions that George Washington and his men took leading up to the renowned battle. The main points portrayed by the film are relatively accurate; however, there are still many historical inaccuracies. Washington’s use of profanity in the film, the weather during the march to Trenton, and the flag flown by the American army are just a few. George Washington’s dialogue in â€Å"The Crossing† is the least accurate element of the film. Washington’s leadership style was the direct opposite. Nearly thirty years before the crossing of the Delaware, Washington made clear how he felt about profanity in his â€Å"Rules of Civility.† His twenty second rule stated: â€Å"Use no reproachful language against anyone, neither curse, nor revile.† Ten years later, he made this clear in his military affairs: â€Å"Colonel Washington has observed that the men of his regiment are very profane and reprobate. He takes this opportunity to inform them of his great displeasure at such practices and assures them that if they do not leave them off, they shall be severely punished. The officers are desired, if they hear any man swear or make use of an oath or execration, to order the offender twenty-five lashes immediately, without court-martial. For the second offense, he will be more severely punished† (Sparks). Washington’s loathing for expletives persisted even 30 years later as seen inShow MoreRelatedThe Battle Of Trenton : A Critical Battle1615 Words   |  7 PagesThe Battle of Trenton was a critical battle that occurred on 26 December 1776, during the early years of the American Revolutionary War. The battle took place in the town of Trenton, New Jersey between the Continental Army, led by Commander-in-Chief, General (GEN) George Washington, and the British contracted Hessian Army, led by Colonel (COL) Johann Rahl. The Battle of Trenton served as the first major American victory in the Revolutionary war. Prior to the Battle of Trenton, American forcesRead MoreThe Battle Of Trenton : A Critical Battle1518 Words   |  7 PagesBattle of Trenton was a critical battle that took place on 26 December 1776, during the early years of the American Revolutionary War. The battle took place in the township of Trenton, New Jersey between the Continental Army, personally led by Command er-in-Chief, General (GEN) George Washington, and the British contracted Hessian Army, led by Colonel (COL) Johann Rahl. The Central Intelligence Agency (CIA) (2013) states that the Battle of Trenton served as the first major American victory in the RevolutionaryRead MoreAnalysis Of The Poem George Washington Crossing The Delaware River 867 Words   |  4 Pagesin 1776 general George Washington and his men braved the cold and crossed the Delaware River to attack unsuspecting British soldiers. This bold move helped to turn the tides of the American Revolution and proved to be one of the most important American victories of the war. This historical battle was commemorated through a painting by German artist, Emmanuel Leutze. The painting of George Washington crossing the Delaware River properly represents the fighting spirit and resiliency of the colonialRead MoreBattle Analysis : Battle Of Trenton1350 Words   |  6 Pagesâ€Æ' Battle Analysis: Battle of Trenton The Battle of Trenton is widely regarded as a turning point in the American Revolutionary War. With enlistments in the Continental Army about to expire at the end of the year, General George Washington risked everything in harsh winter conditions to advance across the Delaware River and execute a surprise attack on Hessian troops in Trenton, N.J. An evaluation of the moments that led up to the battle, the setting, area of operations, the Continental and OpposingRead MoreBattles That Changed the Outcome of the American Revolution Essay example1481 Words   |  6 Pagesthe Outcome The Americans started out as a bunch of uncivilized colonies, but after the revolutionary war, they become a strong country that beat Britain for freedom. On Christmas night General George Washington makes a bold decision to cross the Delaware and ambushed the Hessians. Although risky, Washington brought new life to his rag tag army. General Burgoyne decides that in order to win this war, he needs to cut off New England from the rest of the colonies. Burgoyne’s plan sounded like a goodRead MoreAnalysis Of The Poem George Washington Crossing The Delaware River 867 Words   |  4 Pagesin 1776 General George Washington and his men braved the cold and crossed the Delaware River to attack unsuspecting British soldiers. This bold move helped to turn the tides of the American Revolution and proved to be one of the most important American victories of the war. This historical battle was commemorated through a painting by German artist, Emmanuel Leutze. The painting of George Washin gton crossing the Delaware River properly represents the fighting spirit and resiliency of the colonialRead MoreStrategy And War : Washington s And The Continental Army Success1937 Words   |  8 Pages 15 June 2015 Given the overwhelming British victories in New York and New Jersey in 1776, how was General Washington able to avoid catastrophic defeat and eventually win the war? Introduction The overwhelming British victories in New York and New Jersey in 1776 were significant defeats for the Continental Army and the American Cause and should have all but ended the war. However, behind General Washington’s resolve and strategic planning a victory near the end of 1776 changed the state of theRead MoreRevolutionary War1150 Words   |  5 PagesRevolutionary War Taylor Hunter ENG/101 October 26, 2014 The battle of Trenton and Princeton began to erupt in the same year of the Revolutionary War. The Revolutionary War had started because the Americans wanted the same rights the as the British citizens had. The British refused to give Americans the same rights because they (British) didn’t think the Americans shouldn’t be represented as a part of the British Parliament, instead their (British) minds were more focused on buildingRead MoreMajor Campaigns of the American Revolution1623 Words   |  7 Pagesaccomplished successfully -Cornwallis manhandle of Americans - Chased Americans through New Jersey until they withdrew to Pennsylvania -Battle of Trenton -This was Washington’s counterstrike -Inconspicuously crossed the Delaware on Christmas night capturing nearly 1,000 Hessians -Battle of Princeton -Cornwallis’s attempt to recover Trenton -Washington retained ground Strategy: -The Battle of Staten Island -The Americans - Had 19,000 soldiers - Divided equally into twoRead MoreBattles That Help United States Win Independence from Britian530 Words   |  3 PagesHave you ever wondered,what are the battles that helped the US win our independence from Britain? The Battle of Trenton wasnt simply a battle, it had been a historical moment where it was basicly a turning point for the american troops this battle helped gain the morale of Washingtons troops and gained the desire to fight on.But this is not the only battle that was necessary to the Revolutionary War,The Battle of Saratoga this battle was, in addition to the others, a great battle as a result of

Wednesday, May 6, 2020

The Battle Of Fort Wagner - 1421 Words

MAIN POINT: Active role Massachusetts 54th Volunteer regiment (the first all African-American unit in the Civil War) Note: The Battle of Fort Wagner - exemplifies the greatest contributions of Black soldiers during the Civil War o Displayed extreme heroism in assault on Fort Wagner on Morris Island, South Carolina, in July 1863 †¢ â€Å". . . In the face of heavy odds, black troops had proved once again their courage, determination, and willingness to die for the freedom of their race† McPherson, â€Å"The Negro’s Civil War† (pages 192-195) o Many causalities – black soldiers repeatedly risked their lives by exposing themselves to bullets being shot from the enemy’s side – all in an effort to win the war READ and highlight or take notes/information use in your paper Another article: War, the Ultimate Proving Ground: The black troops persevered in the face of hardship, prejudice, and discrimination. They fought in spite of atrocious treatment and in the face of bitter challenges, believing they could make a difference. They fought for a better future: So rally boys, rally, let us never mind the past; †¨We had a hard road to travel, but our day is coming fast; †¨For God is for the right, and we have no need to fear, †¨The Union must be saved by the colored volunteer. ~the rally cry of the 54th Massachusetts The Fifty-Fourth Massachusetts Infantry Regiment, commanded by Robert Gould Shaw, was one of the most famous regiments of black soldiers. Among its members were two of FrederickShow MoreRelatedThe Battle Of Fort Wagner865 Words   |  4 PagesThe Battle of Fort Wagner consisted of two battles the second being the most deadly and the most famous of the battles. There were several events and terrain features that cost the Union these battles during the attempted siege of Fort Wagner. Even though the Battles were a complete loss there’s several things that came from the battles that had lasting impacts on the war and America. The Union Army wanted to destroy Fort Sumter to allow the Union Navy access to Charleston Harbor so they Navy couldRead MoreThe Battle Of Fort Wagner1294 Words   |  6 PagesThe most famous and well known regiment that fought for the Union in the Battle of Fort Wagner, in Charleston Harbor, South Carolina was the 54th regiment from Massachusetts. The regiment is famous because it was one of the first African-American regiments to fight in the Civil War. In the North, where the abolition of slavery was heavily supported, the 54th regiment was considered very controversial. Although the majority of those who lived in the North were against slavery, many believed that blacksRead MoreCritical Reasoning And Battle Analysis Of Fort Wagner1426 Words   |  6 PagesCritical Reasoning and Battle Analysis of Fort Wagner The purpose of this narrative is to detail the battle of Fort Wagner during the Civil War. This focus explains the defeat of Union forces and how the implementation of intelligence assets may have resulted in Union victory. The use of reconnaissance and scout assets by Union forces would have resulted in the success of the Union Army at Fort Wagner. Fort Wagner was a key stronghold for Confederate forces, securing the Charleston Harbor and protectingRead MoreAfrican Americans Aid The North964 Words   |  4 PagesHudson, Louisiana; Honey Springs, Oklahoma; Fort Wagner, South Carolina; and New Market Heights, Virginia. African Americans constructed about 10% of the United States Army. This may not seem like a lot of people, however it largely aided us in many battles, one battle that really stands out is the battle of Fort Wagner, South Carolina, the African Americans played a major part in helping the North during this battle. Fort Wagner was the first major battle African Americans were allowed to fight, keepRead MoreEssay on Glory, by Edward Zwick 1248 Words   |  5 Pagesduring the Civil War. It tells this story through the eyes of the regiment’s commander, Colonel Robert Gould Shaw, as well as other members of the 54th. It begins with the unit’s inception and follows them up through their participation in the battle at Fort Wagner, all the while exploring themes of discrimination, justice, determination, and brotherhood. Many consider Glory to be one of the most accurate historical films ever made. In my limited research I find the overall story of the film to be fairlyRead MoreRobert Gould Shaw And The Civil War1646 Words   |  7 Pagesplaced him in the position to be involved in some of the Civil Wars greatest and pivotal battles that determined the momentum of the war. Shaw served in campaigns in western Maryland and Virginia serving under Major General Nathaniel Banks, who was actively engaged in stopping major General Thomas â€Å"Stonewall† Jackson’s Shenandoah Valley campaign. Shaw nearly avoided being wounded while fighting in the First Battle of Winchester, when a bullet struck his pocket watch. Shaw, now baptized by fire, wasRead MoreAnalysis Of The Movie Glory890 Words   |  4 Pagesthe fighting to their advantage let to a revamp in the soldiers attitude towards the war. At times, he would write letters to his parents saying he was unfit to lead these men. However, that proved not to be the case. During the final battle of the movie at Fort Wagner, the men showed how much they matured throughout the movie, which led to a great, well planned fight by the soldiers. Therefore, there’s only one man who is accountable for that, a man who represented glory in the movie, Colonel RobertRead MoreThe American Civil War Essay 662 Words   |  3 Pagesrank for a African American officer. Another African American soldier with a big impact was Christian Fleetwood, he was one of twenty five African American men that won a medal of honor in the Civil War. Also â€Å"Fleetwood and his regiment fought in the Battle of Chaffins Farm on the outskirts of Richmond. The 4th Regiment was ordered to charge the Confederate fortifications, with Fleetwood leading the left flank.† (Christian Fleetwood Sergeant Major). (5/26/14). The next importantRead MoreCivil War Movies: Glory1142 Words   |  5 Pagescoming back from battle and training an African American regiment along with his friend Captain Cabot Forbes. The movie focuses on four African Americans, Sargent Rawlins, Thomas Searles, Jupiter Sharts, and Tripp, following their journey into a united division in the US military. The movie begins with Shaw in the Battle of Antietam, where he passed out due to his injuries and wakes up wit h the conflict over. Afterwards, he returns home in Massachusetts, showing signs that the battle had slightly traumatizedRead MoreThe 1989 Film Glory, Directed by Edward Zwick Essay801 Words   |  4 Pagesper month. Before they went to war Tripp told Colonel Shaw that he would not carry the flag when marching, but at the end of the movie when the 54th Regiment was about to go to battle he changed the way of thinking because now they had equality in war as the white man. When they were in war, towards the end of Fort Wagner, Colonel Shaw was the one carrying the flag, but they killed him in front of his regiment, Private Trip changed his way of thinking because Colonel Shaw was the first white man

Tuesday, May 5, 2020

Specific Performance free essay sample

Specific performance can be used as a remedy in certain cases of breach of contract. I’ll explain in a bit exactly what specific performance is as well as give an example of what type of case(s) it can be applied to. As you’ll see the doctrine of specific performance can be a very fair remedy in many cases and is one of the most common remedies used by courts. There are two different types of remedies in contract breach cases. Remedies at law are usually awarded as monetary damages. The second type is remedies in equity, which are only awarded when remedy at law is not adequate to cover losses (Miller Jentz, 2008). The three most common forms of equitable remedies are rescission and restitution, specific performance, and reformation. Specific performance requires the act promised in the contract be performed by the breaching party. The non-breaching party is typically a fan of this remedy because they will be awarded what was originally contracted. We will write a custom essay sample on Specific Performance or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This type of remedy could actually be more valuable to the non-breaching party than monetary damages (Miller Jentz, 2008). Contracts for the sale of goods are rarely remedied with specific performance. According to Miller and Jentz (2008), one of the few exceptions to this rule is when the goods are unique in nature (art, collectable coins, rare edition books, etc.) because monetary damages would not help the buyer to find identical substitutes. For the following three case examples, we will only focus on specific performance as the available remedy: Scenario 1 Tarrington contracts to sell her house and lot to Rainier. Then, on finding another buyer willing to pay a higher purchase price, she refuses to deed the property to Rainier. Scenario 2  Marita contracts to sing and dance in Horace’s nightclub for one month, beginning June 1. She then refuses to perform. Scenario 3  Juan contracts to purchase a rare coin from Edmund, who is breaking up his coin collection. At the last minute, Edmund decides to keep his coin collection intact and refuses to deliver the coin to Juan. Scenario 4 Astro Computer Corp. has three shareholders. Among them are Coase, who owns 48%, and Cary, who owns 4%. Cary contracts to sell his 4% to DeValle but  later refuses to transfer the shares to him. After the previous explanation of when specific performance and when it may or may not be used in court. I would think the only scenario above that would NOT be remedied correctly with specific performance is the first one which involves real estate. As I shared earlier, cases involving sale of goods like land are typically better remedied by monetary damages being recovered by the non-breaching party. Scenarios two and four are self explanatory as to why they could be remedied by specific performance. Scenario three involves a rare coin, which is the only reason it could qualify for the doctrine of specific performance.

Sunday, April 12, 2020

An Algebra Unit Portfolio Essay Example

An Algebra Unit Portfolio Essay Part a- Definitions Limit (long run value): The long run value (LRV) of a line refers to the amount a line can continue to at. It cannot increase anymore. This only occurs when there is a shifted geometric sequence. The limit is reached when the amount adding on is the same as the difference for an amount being multiplied. For instance if the recursive formula for a for a line is un=un-1(.85)+45 and U0=450 and n>1 then the long run value 300. This graph is very simple but shows an example of the equation given. As for the table is is just a quick demonstration to show that this shifted geometric sequence is decreasing. We will write a custom essay sample on An Algebra Unit Portfolio specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on An Algebra Unit Portfolio specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on An Algebra Unit Portfolio specifically for you FOR ONLY $16.38 $13.9/page Hire Writer 0 1 2 3 450 427.5 408.4 392.1 Shifted Geometric Sequence: A shifted geometric sequence is one that increases non-linearly at a non-constant rate. A shifted geometric sequence will have a limit that it will reach. Shifted geometric sequences have a common ratio they are being multiplied by, as well as something that is being added to the multiplied by term. I gave an example of this while explaining the definition of LRV but other examples could include the following:Each one of these equations has a long run value each is just different due to the problem. The first one, is something that is compounded and would be an example of an investment because it is increasing. The second is an example of something that is increasing but is out of one hundred. Somethingthat would be appropriate for is a type of medicine being taken by someone. The third one is a simple example and is pretty basic. It shows a shifted geometric sequence that in the end will have a long run value, just like the other two. If the first example given was -25 versus +25 it would be an example of a loan because money being taken out of the account to pay off the loan versus being put in which would be the case for an investment. Common Difference: This only applies for an arithmetic sequence, it is the difference between two numbers

Tuesday, March 10, 2020

The History of the Kitchen Blender

The History of the Kitchen Blender In 1922, Stephen Poplawski invented the blender. For those of you who have never been in a kitchen or a bar, a blender is a small electric appliance that has a tall container and blades that chop, grind, and puree food and beverages. Patented in 1922 Stephen Poplawski was the first to put a spinning blade at the bottom of a container. His beverage mixer blender was developed for the Arnold Electric Company and received Patent Number US 1480914. It is recognizable as what is called a blender in the United States and a liquidizer in Britain. It has a beverage container with a rotating agitator that is placed onto a stand containing the motor that drives the blades. This allows drinks to be mixed on the stand, then the container removed to pour out the contents and clean the vessel. The appliance was designed to make soda fountain drinks. Meanwhile, L.H. Hamilton, Chester Beach and Fred Osius formed the Hamilton Beach Manufacturing Company in 1910. It became well known for its kitchen appliances and manufactured the Poplawski design. Fred Osius later began working on ways to improve the Poplawski blender. The Waring Blender Fred Waring, a one-time Penn State architectural and engineering student, was always fascinated by gadgets. He first achieved fame fronting the big band, Fred Waring, and the Pennsylvanians, but the blender made Waring a household name. Fred Waring was the financial source and marketing force that thrust the Waring Blender into the marketplace, but it was Fred Osius who invented and patented the famous blending machine in 1933. Fred Osius knew that Fred Waring had a fondness for new inventions, and Osius need money to make improvements to his blender. Talking his way into Fred Warings dressing room following a live radio broadcast in New York’s Vanderbilt Theatre, Osius pitched his idea and received a promise from Waring to back further research. Six months and $25,000 later, the blender still suffered technical difficulties. Undaunted, Waring dumped Fred Osius and had the blender redesigned once again. In 1937, the Waring-owned Miracle Mixer blender was introduced to the public at the National Restaurant Show in Chicago retailing for $29.75. In 1938, Fred Waring renamed his Miracle Mixer Corporation as the Waring Corporation, and the mixers name was changed to the Waring Blendor, the spelling of which was eventually changed to Blender. Fred Waring went on a one-man marketing campaign that began with hotels and restaurants he visited while touring with his band and later spread to upscale stores such as Bloomingdale’s and B. Altman’s. Waring once touted the Blender to a St. Louis reporter saying, †¦this mixer is going to revolutionize American drinks. And it did. The Waring Blender became an important tool in hospitals for the implementation of specific diets, as well as a vital scientific research device. Dr. Jonas Salk used it while developing the vaccine for polio. In 1954, the millionth Waring Blender was sold, and it is still as popular today. Waring Produces are now a part of Conair.

Sunday, February 23, 2020

What characterizes 21st century university students Essay

What characterizes 21st century university students - Essay Example Rapidly developing technologies change the way people collect, use, and transmit information. In fact, they change the relationship between a person and knowledge he gets. Sir Francis Bacon pointed it out that knowledge is power. It is the main factor in the education. However the present situation has changed approaches in obtaining this key factor. G. Graff in The Ships in the Night tells about two undergraduate students; one of them claims that he trashes objectivity in art history, and thus he presupposes it in political science. When asked which course she prefers, another student replies: „Well, I’m getting an A in bothâ€Å". These examples imply that the students have become cynical relativists. A. Bloom in The Student and the University tells about a student of A. Koyre, who has written in his paper Mr. Aristotle, having in mind the image of contemporary but not the Ancient philosopher. Both authors discuss not only problem of institutional matters, but qualiti es of the students, as well. As a current student , I learnt two different academic approaches: the middle-European and the American one. Although the two educational systems differ in many aspects, there is a certain common feature: students face enough difficulties in their way of getting a good education. And it is not only students’ fault.... Graff argues that, what is learned seems so specific to a particular course that it is difficult for students to see its application beyond. The author compares the situation with ships in the night, which are lonely, without a clear perspective of the way they are following, and with no conversation between them. The ships in the night follow the different directions, although they could have cooperated. Broadening the question, Bloom argues that universities now offer no â€Å"distinctive vision†; this implies the presence of â€Å"a democracy of the disciplines† and ability to choose any course one wants. When a student arrives at the university, â€Å"he finds a bewildering variety of departments and a bewildering variety of courses† (Bloom, 1996). According to Bloom, there is neither an official guidance, nor a university agreement of what he should study. Thus, it is impossible to make a reasonable choice. Both, Graff and Bloom, discuss the contemporary uni versity education system problems, which deal first of all with absence of corresponding curriculum courses and at the same time with a big number of the courses, which can be taken. Except this, it is claimed that there is no conversation and connection among the courses – each discipline seems to be particularly different from others. A university as a knowledge server provides nowadays a great amount of information; there are even those courses, the very name of which seems to be vague: for instance, â€Å"Ways to philosophy†, â€Å"Modern society and sociological theories†, â€Å"Arguments about human nature†, â€Å"Dualist views development†, etc. Under these names there