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Marketing Planning Assignment (Solved) - Tommy Hilfiger

   

Added on  2020-01-28

11 Pages2750 Words178 Views
MARKETING PLAN

Table of ContentsINTRODUCTION..........................................................................................................................1TASK1.............................................................................................................................................11.1................................................................................................................................................11.2................................................................................................................................................11.3&1.4........................................................................................................................................2TASK 2............................................................................................................................................3Attached in PPT..........................................................................................................................3TASK ..............................................................................................................................................33.1 to 3.5......................................................................................................................................3Executive Summary....................................................................................................................3Role of Marketing Plan in Corporate Strategy............................................................................4Techniques for New Product Development................................................................................5Product Description.....................................................................................................................5Communication strategies...........................................................................................................6TASK4.............................................................................................................................................64.1,4.2, 4.3...................................................................................................................................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8

INTRODUCTIONMarketing planning is a important tool for doing marketing and advertisement of theproduct which involves particular marketing objectives which should be achieved within thespecific period of time so that the business can run successfully. Tommy Hilfiger is the fashionbrand organisation which was established in 1970 by two individual Mohan Murjani andTommy Hilfiger( Wallace and et.al., 2014). For making the business successful some of themarketing plans are used which has increased the sale of the organisation. There are somebarriers which a marketing manager face during the marketing plan so the organisation has toovercome all these barriers and issues so that the business can expand globally.TASK11.1Marketing planning is very important for the organisation to be successful in local andglobal market. As the current market situation is changing according to the mindset of thecustomer there is a need of change in marketing planning of Tommy. Traditional marketplanning include the strategies which include 4p's of the market segment. In this planningorganisation focuses on the identification of particular customers and what is their behaviour forthe product. In past days the use of media mix was their to deliver good impression on thecustomer. In modern marketing planning identification of group of customer than organisationanticipate the future needs and wants of the customers( Wood, Pitta and Franzak,2011.). Thancustomer is satisfied according to their wants and needs with keeping in mind the profitability ofthe organisation. Changing of market planning is very important for the business to grow.Tommy started with small departments and according to the changing approach it leads to bigchain stores.1.2Marketing planning is an important task so it requires capabilities to to make a marketplan as it is a process through which organisation identify and anticipate and lastly satisfy theconsumer demand which is done through market research and marketing mix. For doing futuremarketing there is a great need of :11Human capabilities1

: Good marketing plan can be made by human resource of the organisation who are very capableas objectives of the firm fully depends on how the marketing is been done.11Physical capabilities: Use of physical resource is very important and it should be donesustainably so that organisation can grow with high goodwill in the market( Fullerton,and Merz,2012.). As the physical resources are very costly so the human resource shouldmake proper use of physical resources so that the cost of product decreases.11Financial capabilities: Human resource must make marketing mix plan according to thefinance available with the firm so that marketing planning can be done by maintainingthe cost. 1.3&1.4There are tools which are required to analyse the external and internal factor which affectthe marketing planning of the organisation. SWOT analysis of the organisation:Strength of the organisation:1.Being a global brand it has a great recognition.2.Globally it has a strong network channel.3.Promotion of the product is done by very popular celebrity. Weakness of the organisation:1. Brand switching is high as there is a huge competition in the market.2. Cost of maintaining and protection is very high.opportunities of the organisation:1. It brings very innovative ideas in apparels.2. Product line and services are expanded by the organisation.3. In an emerging economy organisation is increasing its disposable income.Threats of the organisation:1. International brand competition is very intensive.2. As the economy slowdown demand for premium product get decreased.2

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