Information for Marketing on Primark

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Information for Marketing The Theoretical review of issues surrounding information used in Market Research Primark Market Research links Primark with the environment it is operating and involves specifying the problem, gathering the data and then analysing that data. Market research specifies the information required to address the issues and designs the methods for collecting the necessary data. Market research is essential for Primark as it is one of the largest clothes retailers in the United Kingdom and there is lots of competition in the same market. The growth sector of the market in recent years has undoubtedly been the discount clothing market, which still has considerable opportunities to take sales away from the 'standard' clothing market. Womenswear is the largest sector within the market in general, clothing for women and children is worth double the market for men and boyswear. This reflects the inclusion of babywear and accessories in the 'womenswear' sector, but also the simple fact that women buy clothes more frequently for themselves and often spend more per year than a man. Primark could gather their market research in different ways they would need to define the market trends and competitive structure also identifying the main buyers of Primark. The store states “Primark targets young fashion conscious under 35’s, offering them high quality, fashion basics at value for money prices.” Primark will use first and secondary research to find out what they’re customers need and want. Secondary data could be information that already exists and can be accessed by Primark. The advantage of this research is that it is much cheaper and quicker to access and may provide information that Primark would not otherwise have the time, resources or inclination to gather. Primary data is information Primark finds out that hasn’t been found before,

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