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Introduction to Marketing Assignment- Hennes & Mauritz

   

Added on  2020-06-06

8 Pages2484 Words49 Views
Introduction toMarketing

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Overview of the organisation and its current market strategies also of its competitors. ............1TASK 2............................................................................................................................................3Innovative idea that company can apply for improving its marketing strategies and approaches.....................................................................................................................................................3RECOMMENDATION ..................................................................................................................5CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6

INTRODUCTIONMarketing is the process of thinking in the concern of business in relation to customersneeds as well as their satisfaction (Anda and Temmen,2014). When particular organisation wantto promote a product and services they have to do marketing process which includes severalevents, advertisement and many more. The same is the coordination of four element known as4P's of marketing: product, price, place and promotional strategies. The below mentionassignment is based on Hennes & Mauritz AB (H&M) this is a retail industry founded by ErlingPersson in 1947, 71 years ago. The same company serving worldwide and its headquarter is inStockholm, Sweden and product offering by them is clothes and accessories. Their are manycompetitor of H&M one of them is ZARA. Below mention project critically evaluate companyand its marketing strategies compare to competitors (Skålén and Hackley,2011). For therespective company creative and innovative idea is created for marketing approach. In the endrecommendation for the chosen enterprise are given. TASK 1Overview of the organisation and its current market strategies also of its competitors. Introduction of company and their market strategies- Company chosen in thisassignment is H&M it is a retail industry deal in clothes and accessories of men, women,children and teenagers. It is operating in 62 countries with more than 4500 stores as well asemployee's are around 1,32,000. H&M is having its online presence in 33 countries with thehelp of online shopping availability. The organisation is founded in 1947 by Erling Persson andfirst store was open in Vasteras, Sweden. Website of the same company is hm.com andcompetitor of this is ZARA (Clayson and Haley,2013). Their are several marketing strategies used by company for attracting their customers alsofor satisfying them and increasing sells. STP (segmentation, targeting, positioning) is theprocedure establish the links between an whole market and how a company select to compete inthat area (Marketing Strategy.2018). Segmentation Strategy- this approach mainly subdivide market and their population indifferent segments with same features. H&M use psycho-graphic and demographicsegmentation for reaching to their customers because it is spread worldwide. With thehelp of this strategy respective enterprise easily target customers of many religions,

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