Marketing is an essence for the company as there are various marketing strategies through which the company can able to reach with the current and potential customers. In modern era, there is an advancement in the technology under which there is an established of new techniques in the marketing strategies. It is the S.A.V.E techniques which replaced the old marketing strategy are the marketing mix. There are various advantage is that it minimizing cost, increase sales and enhance customers brand value. The research project is context to the Primark as they apply S.A.V.E techniques and set objectives as per the 5'S of internet marketing. Furthermore, it adopt the marketing model are the Ansff matrix under which there is a market penetration, product development, market development and diversification. Beside this, they also adopt the marketing model under which they adopt Boston model in which they analyse market position by categorised its product market position in terms of cash cows, Dogs, Question marks and Stars.
1 Apply and Analyse the '' SAVE” techniques for organisation that are uses within its marketing strategies
In the modern era, there is a growth of the web which made the classic marketing principles more effective. Thus, in the modern times the buyers are more interested in learning about the companies, the marketing strategy of 4p's is that helps the company to conduced business 2 business. Firstly, we have to understand the main problem with the way of doing things in old ways and then after that we have to understand the framework which covering all the same fundamentals. Thus, it needed to aligned with the landscape that are changing of business 2 business marketing. As per the study have been done by involving a customers and 500 managers in various countries that was published in the Harvard business Review, the marketing strategy of 4'P undercutting the B2B marketers in various significant ways are as describe as follows-
The marketing and sales team are mainly focus on efforts putting to enhance the product quality and technology. For this reason these factors are more significant.
The old marketing mix 4'p strategy are emphasizes on describing the values of the outcomes that are sold in the potential target market (Schmidt, 2016 ). For example, there is no need to spending a more time on gives awareness and education to that potential customers why the products are more necessary.
It has been analysed under the research study is that if the 4 Ps of marketing mix not work so long in the modern time periods that what strategies entrepreneurs and firm's marketers adopts. For this, there is a new techniques of the purpose of marketing is that they should go the new marketing techniques are the S.A.V.E Framework. It is mainly focused on the Solution, Access, Value and Education for the goods or services.
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Elements of S.A.V.E Techniques
Solution- Most of the organisation run their business activities service and solution-oriented activities rather than product-oriented activities. It is due to as that most of customers are not focusing on the product as they want a solution to solve the problems at the time of using product or services. Thus, it is mainly focused on the solution rather than products
Access- Most of the organisation are run their business activities and functions in which their ownership is on to the “Access”. In the modern times most of the firms run and operating their business all over the worlds through the usages of high speed internet access (Ebralidze, 2014). For that reason, they are mainly focus on the Access rather than place.
Value- Mots of the organisation and firms run their business operations by concerned creating value. Thus, in the earlier time period the customers are mainly focused on the product's prices but in the modern time they are now focused on the value.
Education- In the modern times most of entrepreneurs and business operating through delivering the information to the current and potential customers. It is only those information which create a sense of interest into the customers and also create trust among the before they going to purchase for anywhere.
Primark Company adopts the S.A.V.E Techniques
Primark focus on Solution rather than product- The Primark focused on the solution as they believe that the customer are not care about the features of product and its feasibility. For concerning this, they provide provide various alternatives solution so, that customer not find any problem at the time of using products. The cited Company are mainly focus on the customers needs as they believe that products is developed only based upon the features. They does not focus on the customer needs for this reason to fulfil requirement they have to provide a solution instead of product development.
Primark focus of Access rather than place- There is an advancement in the technology there is the place is irrelevant for the company to deliver products to the customers. Earlier, Primark Company distribute their products by opening a number of stores near the schools , colleges and markets(Walks, 2014 ). Thus, from this there is only few people are reach towards the product so, it becomes a old techniques in the competitive market. In the modern times, Primark adopts the new latest technology are the social media media websites. It facilitate them to placing the products or service on online platform. It able them to reach with the wider customers that leads to reduce cost and increase sales in most effective manner. They can promote their products on the latest websites such as Twitter, Instagram and Facebook etc.
Primark focus on Education rather than promotion- The old methods of promoting a products or services is an old in which most of company focus on content marketing. In the modern times, Primark believe that gaining a knowledge, delivering a useful information helps them to enhancing the stronger brand image rather than advertising on print media, banner and newspaper etc. For this reason the marketer of Primark Company are conduct their business in modern way under which they deliver useful information about products to the current and potential customers. Thus, it will build a brand image and trust that leads to creates to enhance a sense of familiar about product before customer purchase an actual product.
Effectiveness of S.A.V.E Techniques
Save cost- The main benefits from the S.A.V.E techniques for the Primark Company is that they are able to reach with the customers without spending a large amount of money on advertising. Thus, they placing the information over the internet and usage of in modern way to deliver benefits about the product by conducting seminars rather the usage of content marketing. Thus, provide information on the advertising such as newspaper, magazines, print media and banner needs to spends a huge a amount on money (Jourabchi, Arabian, Leman and Ismail, 2014). For this reason, S.A.V.E. Techniques helps the company to deliver information on the social websites that does not required a high amount of money that leads to minimization of cost.
Increase sales- S.A.V.E Techniques is used by the Primark Company in which they can able to promote the products to deliver the information over the internet. It able them to reach with the customer in most effective way so, they product or services can be seen by them over internet. It influences the customers to buy a product over the internet if they busy with their work. They can effectively reach with goods or services on the online platform without go to shopping mall, shops and street market etc. it directly increase the sales of their products that leads to attain objectives in a desired manner.
Enhance brand value- Primark company focus on the S.A.V.E techniques under which it influences them to create a value for a product rather than price. For this, it able the firm to effectively increase their brand image and value in the minds of its potential as well as current customers in the target market.
It has been recommend that the Primark Company can improves the S.A.V.E techniques through focus on the value of product, placing the information over the internet so, the customers can easily access. Apart from this, they should conduct training and educational programmes so,they can deliver information about the product in most effective manner.
2 Identification the “5s” of internet marketing and analysing the effectiveness of each element s in the marketing strategies for a company
In the modern era, there digital marketing is often used by most of the company for the purpose of attaining marketing and organisation objectives in most effective manner. For this, there is an advancement of new techniques is internet marketing of 5s through company can able to deliver the product or services to is customers in a desired manner. Most of the firm's marketers adopting the business strategy model are the “7Ps” and “SWOT” in the marketing mix. The Primark Company adopts the latest framework are the 5s internet marketing which is a most useful tool that make sure that the company becomes successful in the longer time periods by adopting digital marketing strategy (Ordabayeva and Yessimzhanova, 2016). There are various important advantages of 5S which are described as follows-
Sell- The main benefits from this is that it gives a fantastic way to enhancing financial success for a longer time period. Thus, with the helps of e-marketing they Primark Company can able to earn a higher amount of profits over the online platform. It does not limits only with the e-commerce websites but they can sell able to purchase and make end conversions. For instance, the company main conversion goal is that make contact with the members over online platform. The well equipped strategies helps them to leads a successfully attain the conversion goals.
Speak- In this phase it helps the Primark Company to build a strong relationship with the customers over the internet as it provide a 24/7 access route. The firms adopts the digital channels that is the perfect tools for communicating that leads to build trust and customer engagement. They can select both social channels and owned websites that leads them to strongly engaging with the users. It can easily replying to a customers over the Facebook , Twitter without spending a huge amount of money.
Serve- The online platform able the company's web(pages is the most effective destination under most of customer access over internet. The main purpose as well as benefits is that they can able to get the query, want any kind of further information and want to raise any kind of issues over the company's webpage. For instance, Primark are now growing popular as they have a twiter accounts that are dedicated towards the customer services. It ensure that the customer queries can effectively as well as quickly replied. It helps the company to adding a value by making online presence by giving the extra route to the customers of a customer service by adding brand value.
Save- The another elements is a Save is that it effectively reduce the expenses by adopting the latest technology. It is the less attractive as compared to sizzle. For instance, Primark Company can able to reduce overhead through involving the techniques such as linkage with CRM, allow the service users to update their profits etc. it resultant into that it minimizing the off-site administration cost. There are several ways through which company can able to reduce overall costs. For instance, they use the online version rather than newspaper they can adopt the e-mail marketing rather than direct mail.
Sizzle- The Primark Company can make their digital presence by adding value under which they introducing the new application benefit. It provides a platform through which the service users can able to track the products that leads to provide uses a high-quality of experience that leads to attain firms objectives.
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Primark attain objectives through adopting the “5s” of internet marketing
The primary goals of a company is to increase sales that can be possible through reach with the potential customers through enhancing interaction and engagement with the customers. For instance, the Primark objectives is that to increase sales by 20% in next 6 month that can be achieve through “SELL” element in e-marketing.
The second areas of e-marketing is a SERVE. The main aim of Primark Company can attain through enhance or adding value by adopting customer service. Accordance, firm can able to set the target through which they can extending hours that can effectively meets the needs of clients.
The Third phase of e-marketing that cover the SPEAK goals of a Company under which the Primark Company can closer with the customers through (WOM) Word of Mouth. For instance the organisation can attain its objectives by start regular contacting with the potential customers by communication campaign. They can able to speak and resolve the complaints of customers on monthly basis.
The next forth goal can be attain through SAVE in which can able to reduce cost by looking at a new opportunities to improvement. For instance, the Primark objectives is that to reduce cost under which they can make improvements in its website through adding Frequently asked question section. It can save time of the staff of addressing the issues.
The final area that covers is the most important under which company set their goals are the SIZZLE. For instance, the Primark Company can able to add WOW factor under which they develop a mobile app are implemented in the current market.
3 Evaluate the used of 2 marketing models in a company
Primark Company should adopting the Ansoff model and Boston matirx that are as describe below-
Ansoff Matrix- It is a strategic tool that assist the marketers, senior managers and executives to capture a large market share. These are four growth strategies that are adopted by the Primark Company are as follow:
MARKET PENETRTATION- It is that type of strategy in which the company can grow through using existing products or services in the potential existing market. It helps them in enhancing the market share in the market segmentation. It can able to attain objectives through offer goods or service by finding out the new potential customers (Vignali, 2014). It can be possible through aggressive promotion and distribution of products or services.
MARKET DEVELOPMENT- It is that type of strategy under which the company can expand their business by entering into a new market. It can be attain through various customer segments, developing a new area and enter into a foreign markets. The strategies can firm able to used in market development strategy is more successful it that they can increasing a economies of scales and they can leverage a new market through unique product technology.
PRODUCT DEVELOPMENT- It is that type of strategy in which the company can able to develop a new products or services by target into a existing market (Kainth and Kainth, 2015). It majorly includes add branding in the existing product, spend money on the research and development etc.
DIVERSIFICATION- It is that type of strategy under which a company can able to capture the market share through introducing the new product or service in the new target market. It is one of the most risky strategy under there is a requirement of both product as well as market development.
Boston Matrix- The Primark company adopts the Boston Matrix strategy in that they help them to effectively utilization of resources. It can be used by the company as an analytical tool in portfolio analysis, brand marketing, strategic management and product management.
Cash Cows- The company have a higher market share in the footwear as there is slow in a industry. It helps them to earn amount of cash that are necessary to maintain their business. It can regard as boring as it is said that the company have to spend as less amount money.
Dogs- The company's home ware products are to be regarded as a Dogs under which there is slow market share in their industry (Evans, 2015). It can be useful to maintain a the company's market share. It can be possible through providing a social benefits through deliver jobs.
Question marks- The company's beauty products are under the question market as the business is operating as a low market share into the high-market growth.
Stars-Women's wear of Primark Company come under the stars in which they have a high-market share in the fastest growing industry (Rangkuti, 2014).
Summarizing the whole report it has been concluded that In the modern era, there digital marketing is often used by most of the company for the purpose of attaining marketing and organisation objectives in most effective manner. For this, there is an advancement of new techniques is internet marketing of 5s through company can able to deliver the product or services to is customers in a desired manner. Furthermore, It has been analysed under the research study is that if the 4 Ps of marketing mix not work so long in the modern time periods that what strategies entrepreneurs and firm's marketers adopts. For this, there is a new techniques of the purpose of marketing is that they should go the new marketing techniques are the S.A.V.E Framework. It is mainly focused on the Solution, Access, Value and Education for the goods or services.
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