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Development of Marketing Plan in H&M

   

Added on  2020-01-28

6 Pages3934 Words1125 Views
INTRODUCTIONIn every organisation, the role of marketing is very important. The principles of marketing are enables for the development of marketing plan. In H&M.com, it is the responsibilities of marketing department to increases their sales and revenue. It is the duty of every marketing manager to increasing theirmarket share in order to contributing in their nation’s economy. Marketing helps in developing relationship between customers andorganisation by offering new range of products. It helps in making wider the organisation and for that H & M have to includes for elements of marketing mix. Such as price, place, product and promotion. It is helpful in achieving targets and aims of the organisation (Lamb, Hair and McDaniel, 2011). Marketing functions are helpful in managing reports and provides a business, a estimation of its future sales. Organizations wants to reach to defend their market share and with that they wants to be at the top of customers minds.TASK 1P1 Explain the key responsibilities of marketing functionMarketing department plays an very critical role in business mission and its visions. For every business organisationits is necessary to pre- planned its marketing strategies, it gives confidence to managersto implement their products in market (Toedt, 2014). In H & M organisation, the roles of marketing department is to develops their plan and policies, so that it can grew up in compare to Zara or other fashion industry. It gives shapes to organisation, likes how customers associates business products and services. There are some roles and responsibilities of marketing department of the organisation. Such are as follows:- Strategy Development:- This is the most important responsibilities of marketing managers, todevelops strategies and policies, in order to implement them in business. In H&M, a strategy helps in increasing number of customers and their profit market sharing. Marketing department of the company reaches settlement on strategy with the help of senior managers and board of management team before plans any campaigns. For the profit led business organisation, marketing is obliging in maximising the revenue of the H & M Company. This is beneficial for those organisation, whom are based on the number of corporate customers and clients and more than one parties are involves in decision making process (Jones. and Rowley, 2011). Strategies also help in providing name and fame to an business organisation and gives the power of brand development. It is also helpful in to reach a broader geographical market, to enter in a new sector or to open a new network of product distribution. Product Growth:- Pre planned marketing functions also helpful in developing product growthand attracts customers towards it. In an profit based business organisation, there are ,any teams and departments, who works on their product growth, it includes providing quality products to the customer’s. Marketing department assessing the sales of the present products and identifies their product range & prices, and figure out the gap between both of them. Along with this, it provides better opportunities to companies, so that they can compete with another products or organisations. In the procedure of product development, marketing department of H & M sets their product price and pre planned estimated sales in launching of a product or brand. The marketing function is always focuses on branding of the organization advertising, customer interaction an d attraction and participation in public activities for brand improvement (Musibau, Oluyinka and Long, 2011).Although, it is the best way to sell the product, between a wide range of consumers. Market Research:– Market research helps in identifying the customer’s needs and wants better market opportunities, it is the key responsibility of every organisation. When product is launch, it starts with marketing and ends with marketing, where by managers are founds the needs of the customers and after introducing the product with customer’s, they are identifies that it matches with people’s needs or not. It also helps managers to know the competitors weakness and its strengths, so that they can makes another policies for saves

their existing customer’s. It also improves the cooperation and coordination among employees and managers, that improves sales and rapidity increases market growth. Marketing functions helpful in creating events, seminars and exhibitions for the external publicity of the product and services (Gamble and et. Al., 2011). Marketing also formulates presentations for sales team and deliveries them with shares of advertising material that gives them customers prospects and providing them high quality of products. Communications:- Communications are back bone of any organisation, they reduces the gap between customers and their clients. Now they are able to find their customer needs and wants, produces their products according to customer demand. Marketing department of H & M, plans operations and develops their communication process to promotes their products and services. Sometimes they prefer the use of social media accounts and manages them carefully to find what is being in process. It develops the target market opportunities and giving them guidance that what kind of products areperceived by customers, it also helps them in managing their annual budgets and financial reports. These reports and budgets are providing them to plan their sales and profit, with that any business can become successful in a very short term period (Lyus, Rogers and Simms, 2011). For H&M , marketing functions are the base of generating customer loyalty and their retention. Result of it, the function brings out time to time promotions and campaigns , this has been verified that a successful business is able to attracts customers easily. So it very essential for every marketing based organisation to establishesflexible communication with their employees and sales department.P 2 Roles and responsibility of marketing relate to the organizational context.Marketing is the term which is used by all the organization to promote their products at the market place to earn more and more profit by satisfying their customers needs and wants. Basically marketing included all the internal and external factors which influence the marketing policy of an oragnization. Like H&M and Zara both are a very famous organization which attract their customers because of qualitative product in fact both the enterprises believes in the customer satisfaction by introducing new and innovative products. H&M believes in making product according to the customer taste and preferences so that weaker sections also able to buy their products due to cheap price (cant, 2010). Whereas Zara is famous for their expensive product because of their product quality which attracts rich people as due to their expensive price.Both the company must consider the traditional and modern marketing mix to achieve their company objective by minimizing losses and maximizing profit. In fact traditional marketing consist of 4 p’s and modern marketing consist additional of 3 p’s by which an organization try to solve all the upcoming obstacles in marketing policy. H&M plays a major role at a market place by performing their responsibilty effectively to attain theirbusiness goals by considering all the relevant data and information which require while playing their role in front of their competitors. Whereas Zara is also very careful about their roles so that they can fulfil their customers needs and demands in fact this company manufacture their product according the demand of the particular product in the market to avoid wastage (hagan, 2011). Moroever to achieve their organization goals both the organization follow the policy of marketing mix which is very indispensable for enterprise to build their image at international level.Here is the 7 p’s of marketing mix:-Product :- A product is a either tangible or intangible item like weather it’s a goods and services that’s called a product for an organization. In fact product is made by the manufacturer according to the demand of a customer because product is made to satisfy their customers needs and wants. A product have their own product life cycle started from introduction stage , growing stage , maturity phase and end with declining stage in the market place.

Price :- Price also plays a major role in the product life cycle as according to the price customer can identify the quality of a product. In fact in today’s creative world most of the customers are ready to pay extra peny for qualitative product so that it can work for longer period of time. Basically price is one of the indispensable aspect for every organization (bivins, 2013).People :- Employees are one of the mandatory and useful resource for every organization because all the other resource are handle by them only as if there is absence of labour then its not easy to perform any task or activity. Both the companies are most concerned about their very useful resource due to their very much requirement in the company as all the necessary things are done by them only.Place :- H&M and Zara always try to locate their shops near to the main market so that customers can reach at a market place without facing any problem regarding location. Simplyplace is the term in marketing mix which describe the location of an organization where there buyers and sellers meet with each other for final consumption of a product.Physical evidence :- Physical evidence is the term through which cited company try to attract their customer by designing their malls with use of various catchy theme like interior designing. It means the main focus of physical evidences is to catch the attention of publics.Promotion :- Promotion deals with the advertising of a product either online pr offline by using various ways of promoting their product.Process :- Process is also known as the appropriate channel for final consumption of a product.All the above elements are very indispensable for both the companies to achieve theirorganization goals because consideration of all the elements and factors are very mandatoryto fulfil the demand of their clients by satisfying their needs and desires.TASK 2P3 Marketing mix to the marketing planning processMarketing mix is important parts of the marketing which are applied to the marketing planningprocess to get achieve maximum business of hennes and mauritz and Zara. Marketing mix includes manyareas which play vital role in the marketing of the organisation like price, product, place, people, promotionprocess and the physical evidence (Abell and Hammond, 2009). The marketing mix can be applied to themarketing planning process so that business of the company. As hennes and mauritz as well as Zara both arevery big brand og the world there is a must need of the marketing mix to maintain the brand image all overthe world and the country in which the mentioned companies operate their business. Following are thedifferent ways in which the marketing mix can be applied to the marketing planning process-1. Product- Product is the main part of the business which is to be applied to the marketing planning processof hennes and mauritz as ell as Zara so there should be main focus on the role and the customisation of theproduct according to the demand of the consumers. The product should be according to the way in which thetarget customer wants so that the product can satisfy them in term of quality.2. Place- Place is another important part of the marketing mix as the target customer should get the productnearest of them to buy. There are many easy way of making product available in the reach of the customerso that they can shop easily like main market, online shop etc. So the place is also applied in the marketingplanning process.3. Price- Price is also an important part of the marketing mix which is to be applied to the marketingplanning process(Choffray and Lilien, 2010). The price of the product should be the reasonable according to

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