Analysis the Effectiveness of Marketing Strategies for Sustainable Growth & Development of Business: A Case Study of Primark PLC

CWA 500 Words, CWB 2500 Words.

1.0 Introduction                                                  

Sustainability of business has wider recognition by most of the business organization in recent years. The continuous performance of the business and stable economic profit can be summarized as the sustainable growth of   firm. Business sustainability ensures long term viability and integrity by optimal use of resources and adopting suitable marketing strategies. The elements of marketing strategies respond the market share by attracting the new customers and retaining the existing customers (Weiss, 1988). Company’s’ performance and growth is largely depends on successful marketing strategies in competitive market (Balduf et al, 2000). Companies spend millions to implement successful strategies for growth and development of business.

In traditional way, marketing strategy is a plan for achieving the firms marketing goals that supports the overall goals of the organization within a specific segment of market (Kotler, 2010). For adopting suitable marketing strategies, companies segment their consumer market and also employment right tools of promotions along with pricing strategies to achieve the objectives of the company (Walker, Mullins & Larreche 2008). For avoiding the incorrect decision regarding to growth and development of business elements of marketing strategy will be used to find the contribution of each element on firm’s long term success in competitive market environment. As a fast moving retailing industry Primark also takes into account the factors of marketing strategy before taking any strategy.