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IntroductionAccording to Blythe (2012) in order for a firm to take stock of its internal position, managers apply the SWOT analysis. Primark uses this analysis in the following ways:
Strengths1. The company has over 161 stores. 2. Offers job opportunities and employs over 27,000 people. 3. To attract its customers Primark offers affordable good quality products. 4. Primark is part of the Ethical Trading Initiative. Some of its key objectives are to focus on employee’s rights, their goods production and work on labour rights matters.
Weaknesses1. Despite Primark being a member of the Ethical Trading Initiative, there have been many negative reports concerning the was business operates concerning production of its goods. In the past it has been alleged that Primark used child labour to produce their goods. 2. Poor working conditions and disrespecting workers rights are another issues. 3. Due to the fact that Primark does not advertise, their competitors have advantage over them.
Opportunities1. Having opened 47 new stores in the UK, additionally 7 new shops have been opened in Spain. 2. The competition with other companies, e.g. Matalan and H&M. 3 .The company’s competitors have advertising while Primark has little to no advertising.
ThreatsCompetitor Analysis 1. Matalan, Peacock, new look, Zara, Tesco, Marks &Spenser, Costco, TK Max, ASDA, and Next are some of the main competitors of Primark. However, Primark has better business power and high market share which is determined by the analysis for each main competitor. It has comparatively poor management quality and low standards of hi-tech position but has good financial strenghts and high profitability. 2. In relation to competition, Primark needs to consider several external forces and environmental changes to define its marketing strategy. Primark is facing high competition which is offers cheap products as well.
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