Marketing Essential of Hennes and Mauritz (H&m)
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Added on 2020-01-28
Marketing Essential of Hennes and Mauritz (H&m)
Added on 2020-01-28
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MARKETING ESSENTIALS OF HENNES AND MAURITZ
Table of contentsIntroduction:....................................................................................................................................2Task 1 - LO1....................................................................................................................................2P 1 Key roles and responsibilities of the marketing function in relation with H&M:.....................2P 2 The roles and responsibilities of marketing relate to H&M:.....................................................3M 1. Analysis of the role and responsibilities of marketing with the context of marketingenvironment relate to H&M:...........................................................................................................4M 2 The significance of interrelationships between marketing and other functional units withinH&M with the reference of case study:...........................................................................................5Task 2 -LO2.....................................................................................................................................5Elements of the marketing mix to achieve overall business objectives:.........................................5P 3 Comparison of the ways in which H&M and Zara apply the marketing mix to the marketingplanning process to achieve business objectives:............................................................................6M 3 Evaluation of the different tactics as a marketing assistant that applied by H&M and Zara toachieve business objective:..............................................................................................................7Task 3-LO3......................................................................................................................................7P4 Evaluation of a basic marketing plan for H&M:........................................................................7D 2 Design a strategic marketing plan with the use of 7Ps to achieve overall marketing objectivesfor H&M:.........................................................................................................................................8Conclusion:......................................................................................................................................8Reference list:..................................................................................................................................91
Introduction:H&M Hennes & Mauritz is a clothing retail company founded by Erling Persson, in Sweden.The company is famous for its fast-fashion clothing for men, women, teenagers and children. Ithas an association with 62 other countries with over 4,000 stores. H&M is the second largestglobal clothing retailer. The online appearance of this company, covering 32 countries made itvery popular brand among the mass. It has an expansion in European countries and the companyhas a strong online catalogue in 2008 for the selling of home furnishings. Following theexpansion in Middle East and Asia, H&M also launched some of the concept stores, with theprestige of most valuable global brand. Task 1 - LO1P 1 Key roles and responsibilities of the marketing function in relation withH&M:H&M being a popular brand for the customers creates the brand value in the unique way so thatthe customer purchase from the brand. Marketing planning and strategy is the main triggeringpoint for the brand to be globally popular and determine effective objectives of the code ofEthics. The company H&M has a transaction in all other countries so maintaining the goodrelation with the suppliers and the business partner can drive the business in the positive way.Collaboration with the stakeholders is the process of strong communication that the marketersfollow with regular meetings, dedicated surveys and the active participation in several multistakeholders’ initiatives. For the creation of the long-term relation and bonding with thecustomers, the markets of H&M also check the products and services along with the deliverychannels, for future benefit of the company. Internal marketing is a sales technique of thecompany to maintain a harmony with the employees to treat them as customer and make themunderstood all the business functions (Gummesson et al. 2014). H&M believes in the sametechnique and they create value for the company to manage the employees very well. Thesegmentation and lead generation of the market gives the company a clear view about thecompany that how they can operate the stores in various places. The most essential plan in the2
marketing function is keeping an eye on the customer experience and service (Ehret et al. 2013).The marketing head decides the entire marketing component related to the customer of the H&MCompany to match up with the customer preferences and delivering the high fashion things withtime. As the business of the company operated in the open market, the marketing team promotesit through direct marketing. With the consideration of the trading rules H&M uses inside marketinformation to get the knowledge about the significant effect on the trading price of the H&Mshare. For the employee appreciation, and to generate the progression of work the marketingteam of the company creates employee incentive program. P 2 The roles and responsibilities of marketing relate to H&M:H&M has a clear strategy in the business concept to serve the best quality fashion at the verybest price for the customers. The company believes in sustainability and keeps that in mind theyare growing ahead in the global retail business criteria. The marketing strategy of any Companyshould value driven, customer-oriented, and responsible to maintain the brand value and believesin creativity (Schmidt et al. 2014). The marketing team has planned the company growth andproductivity in different manner. The roles and responsibilities of the marketing team in H&Mincludes create appropriate customer base, deliver quality design and products with the standardof the market, meet customers need, long term cooperation with other suppliers and businesspartners. The marketing team is deeply in the brand management to exaggerate the brand value.Believing in the sustainability theory the targeted customer of this brand is Men, women andchildren with the basics of modern and high fashion. The marketing director with the sheerconcentration of the market creates an overall strategy to compete with other global brands withthe help of advertising online, through magazine along with the media and the agencyrelationship. The responsibilities includes insight in the market, apply innovative strategy ofpromotion, use project management initiatives through new platforms by get to know customerpreferences and new fashion in the market. The marketing involves liaison with sales of theproducts, sales in different stores, effective pricing of the products so that the customer can feelof buying things, a broad market research about other competitors, production- consumptionpossibility, and distribution of the product, public relations, most effective events management tocatch the attention of the customer. 3
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