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Managing a Successful Business Project Assignment - Impact of Globalisation on Marketing

   

Added on  2020-10-22

31 Pages6186 Words190 Views
Managing a SuccessfulBusiness Project

TITLE: To identify the impact of globalisation on marketing “New Summer Shoe” in LondonFashion Week while competing with international brands.” A case study on Hennes & MauritzAB.INTRODUCTIONGlobalisation refers to process which helps to perform business operations atinternational level which results in integration of political parties and helps in integration ofbusiness operations. There are some changes to deal at international level such as use of latesttechnology, quality of product and services, etc. In order to run business in smooth manner, it isessential to analyse and properly plan business activities. Globalisation means expansion ofbusiness in different countries, hence there is difference in demand of consumers on the basis ofdifference in geographical region. This report is based on Hennes & Mauritz AB (H&M) which is one of the leading brandin fashion retail sector. This organisation has head quarter in Sweden. This organisation deals infashion clothing for men, women, teenagers and children. As project manager, there is challengeto create and market a new summer shoe in London Fashion Week to compete with other leadingbrands. In this report, there is discussion about project aims and objectives with time frames,conducting small scale research for collection of information and at last communicationconclusion and recommendations with reflective statement. TASK 1P1 Project aims and objectivesGlobalisation is the process which assist in performing operations under internationalmarket. After LPG policy off government, there is ease in performing business operations atworld wide level. There are some trade policies such as taxes, legal norms, registrations, etc.must be followed by managers of organisation. With globalisation, there are positive as well asnegative benefits to organisation in the form of increment in goodwill, sales, revenues, etc.Globalisation of business can be done with the help of different resources such as employees,expertise, legal advisor, etc. hence it is responsibility of managers of H&M to analyse marketand then actions has to be performed (Aas, 2013). There is difference in legal, political policiesas per change in plans and policies of association. At international level, marketing activities is1

one of the important components which helps to analyse demand of consumers and it is easy toget success. With operating at international level, it is easy for managers to get knowledge aboutpreferences, culture and ethics of consumers. Background of project:-H&M is the company which deals in fashion retail company. This association wasfounded in 1947 by Erling Persson. This association provides services at world wide level andhas 4553 outlets in different countries. There are around 148000 employees associated with thisorganisation which helps to perform operations in better manner and maintain proper brandimage in fashion industry (Agrawal, 2017). This deals in clothing sector of women and men andoperates all around the world. In this research, as project manager of H&M there is requirementof marketing its new product i.e. summer shoes in London Fashion Week. This must be done inorder to compete with other international brands. Aim of project: To identify the impact of globalisation on marketing “New Summer Shoe” in LondonFashion Week while competing with international brands.” A case study on Hennes & MauritzAB.Objectives:To understand the concept of globalisation.To analyse marketing techniques which has to considered at London Fashion Week.To determine the relationship between globalisation and marketing techniques consideredfor launching New Summer Shoes in London Fashion Week.Questions:Do you understand the concept of marketing techniques?What are the marketing techniques which has to considered at London Fashion Week?What is the relationship between marketing activities and successful launching of NewSummer Shoes in London Fashion WeekP2 Project management plan that covers aspects of cost, scope, time, quality, communication,risk and resourcesProject management plan refers to process proper which has proper information aboutaspects which has to be considered by researcher (Beck, 2018). This is the formal and legaldocument which provides appropriate information about pursuing research. Hence with this2

document it is easy for managers to plan, execute and monitor research plan. With the help ofproject management plan, planning for resources such as risk, quality, cost, scope, etc. In case ofchange in working style, then alterations are required to be made in project management plans,hence this helps to achieve aims and objectives of performing research activities in appropriatemanner (Benería, Berik and Floro, 2015). There are different aspects which are covered underproject management plan, which are discussed as under-Cost- Cost is one of the important aspect because there is requirement of funds forcreating value of new products. There is requirement of different resources such as land,employees, machinery, marketing campaigns, etc. Hence there are some cost which is incurred inmarketing and creating value of “New Summer Shoe” launched by H&M. In creating value andmarketing product, cost of around £5200 will be incurred. While conducting this research, somecost is incurred for making availability of resources such as computer, internet connection,phones facility, etc. hence in this case, there is cost of around £800. Scope- Scope is the area under which organisation is working. As per case study ofH&M, there is expansion in working scope of organisation because they are launching newproduct and wants to market and create value in London Fashion Week. Hence this helps toincrease in sales, consumer base and competition with international brands. Hence it isresponsibility of managers of H&M to analyse market properly and so actions can be takenaccordingly. While conducting this research, it is easy for researcher to enhance knowledgeabout globalisation, marketing techniques to be used tat international level, different types ofresearch methodology, etc. Hence it is easy for individual to pursue research in near future ineffective and collect within specified time. Time- There is requirement of some time for launching and marketing new product inLondon Fashion Week. There is difference in working style at national and international level, sothere is requirement of time for proper market analysis. This can be within 1- 1.5 months ofstarting marketing values for New Summer Shoe. At the same time, there is requirement of sometime for completion of this research project. This time is expected to be within 8 weeks becausethere are different activities such as introduction, setting aims and objectives, data analysis, etc.which as to be considered by researcher (Benigno and Faia, 2016). 3

Quality- Quality is also important for performing at international level and competingwith other brands. H&M is launching “New Summer Shoe” as new product, so in this case it isresponsibility of managers to maintain quality of product. This helps to market and lead inindustry which assist in competing with other brands. These days, consumers wants qualitygoods and proper return of their money. Hence by considering this, it is easy for maintain goodimage in front of delegates at London fashion Week. While conducting research, quality aspecthas to considered because researcher provide some data which shows authentication of presenteddata. Hence quality has to be considered by researcher so authentic and relevant information canbe transferred to readers (Blaser, McRae and Feit, 2013). Communication- Communication is the way through which information can betransferred from one person to another. As per case study of H&M, there is requirement ofproper communication channel which helps to deliver information about features of “NewSummer Shoes”. There is requirement of proper marketing techniques such as social media,posters, hoardings, etc. helps in creating brand image of H&M. While conducting this research,there is requirement of proper communication, so information related to change in researchactivities, sequences, etc. can be communicated. There is use of meetings, conference call, videoconferencing, etc. are considered. So research activities can be done in appropriate and relevantmanner. Risk- Risk is also one factor which is considered in project management plan. Whileglobalisation of business, there is risk of change n consumer preferences, risk of morecompetition., improper planning, etc. which may become reason for failure of business (Hillson,2017J). This affects business growth and development in the form of good sales and revenues.While conducting this research, there is risk of data missing, duplication of activities, impropercommunication, etc. Resources- Resources helps in launching and marketing products in London FashionWeek. There is requirement of employees, expertise knowledge, legal rules and regulations, etc.which helps to make changes according to external environment. While conducting this research,there is use of different resources such as internet connection, communication channel, etc.which helps to perform research activities in smooth and relevant manner (Jeston, 2014). 4

P3 Work breakdown structure and a Gantt chart to provide time frames and stages forcompletion of projectWork break down structure- This structure refers to division of whole research processin small divisions with small chunks of activities. Thee are many departments which works forcompletion of project, hence in this case, with the help of work break down structure activitiesare divided among them. This helps to complete project within specified time and research isconducted in appropriate manner and possibilities of duplication of activities is less (Loch,DeMeyer and Pich, 2011). 5

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