Marketing Essentials Assignment- H&M
15 Pages5020 Words43 Views
Added on 2020-06-06
Marketing Essentials Assignment- H&M
Added on 2020-06-06
ShareRelated Documents
Marketing Essentials1
Table of ContentsINTRODUCTION...........................................................................................................................3LO1 .................................................................................................................................................3P1 Roles and responsibilities of marketing function..............................................................3P2 Roles and responsibilities of marketing relate to wider organisational context................5LO2..................................................................................................................................................7P3 Concept of marketing mix.................................................................................................7LO3..................................................................................................................................................9P4 Marketing plan for H&M..................................................................................................9CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................152
INTRODUCTIONMarket is an important place where exchange of goods and services take place in order tocreate value. The essentials of the marketing involve products and services that are available andare in the latest trend. With the help of marketing essential concept, the demand and competitoranalysis of market is done which helps in delivering the desired results for the enterprise (Babinand Zikmund, 2015). This way the anticipated level of standards is achieved and the satisfactionof customers is achieved. H&M is a fast fashion organization which is known for producing thelatest trend clothing for different age group people of the market (Griffin and Ebert, 2010). Thefollowing report will discuss the roles and responsibilities of marketing manager which will helpin understanding how it interrelates with other departments of the organization too. Thereafterthe concept of marketing mix will also be discussed which will aid in knowing how the referredenterprise is taking its decision regarding the distinct important areas.LO1 P1 Roles and responsibilities of marketing functionH&M is a big brand which has its stores in different parts of the world. It is a Swedenbased enterprise which was founded in 1947 by Erling Persson with a view of capturingmaximum market share. There are a number of departments which are formulated under thisbrand among which the marketing division is the most crucial one (Rossi, Allenby andMcCulloch, 2012). The roles and duties which are performed by the marketing function is crucialand helps the enterprise in achieving its targets. The prime responsibility of this section is toensure that effective services are delivered in the market so that the maximum returns areachieved and profit margins are maintained. In order to understand how the marketingdepartment is important for H&M the roles and responsibilities of same are discussed below:Marketing and promotion – In order to sell goods and services properly in the market itis of great importance that the same are promoted in the most effective manner. The mode ofadvertisement has to be one which is capable of capturing maximum share of market as this waythe growth of H&M can be ensured. The advertising department does proper evaluation oforganization and selects the best way to reach different customers. With the help of this functionthe marketing department communicate all the aspects of its products and prove its productsbetter than the other in the same field (Brassington and Pettitt, 2013). H&M is also using this3
department in order to interact with its potential buyers so that the sales volume can be increased.Variety of techniques are used to reach at clients which has direct impact on the business done ina particular financial year.Market analysis – As H&M is dealing in sector which has a number of competitors andtherefore it is important for this enterprise do proper marketing research so that appropriatedecision is taken (Joshi, 2012). The marketing department helps in identifying the keychallengers of the brand as this way the production department bring changes in its currentproduction so that better products are manufactured. Apart from this the marketing departmentalso provide all the information that is associated with the organization like the optimum pricethat should be maintained and the latest trends in the market so that according changes in ownproduct is made. Identifying market opportunities and new segments – In order to grow on a continuousbasis, it is important for the enterprise to maintain innovation in the existing products. This canbe done by deep analyzing the possible positive chances which are available for H&M so that thesame are adopted and growth is experienced. With the help of marketing department, it isidentified that which new areas can be covered in order to reach at more customers and increasein revenue is done. H&M promotion team work continuously in identifying new segments forwhich production can be done so that the sales are increased.Improvement in the quality – With the help of marketing function the products andservices of H&M are compared with that of other brands which helps in reaching at top qualityoutput. When clothes are produced after setting the quality standards they are more effective andare capable of raising the customer satisfaction level (Caragher, 2016).Facilitates innovation – Be it H&M or any other organization ensuring changes on acontinuous basis is of great importance. It helps in maintaining the interest of customers whichhas its direct impact on the goodwill of the firm. Those enterprises which maintain changes inthe offerings on regular basis are found to be more effective and responsible in the eyes ofcustomers. Marketing department of the referred organization facilitates change by providing therequired information on time so that no chance of attracting more clients is missed out.Act as a medium to communicate – It is important to ensure the required level ofinteraction between customers and the organization as their suggestions helps in makingimprovements in the current system (Brady, 2014). When feedback are received from the clients4
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Marketing Essentials in H&Mlg...
|16
|4042
|20
Report on Marketing Essentials - Zaralg...
|13
|3623
|49
Roles and Responsibilities of Marketing Function in H&Mlg...
|15
|3881
|53
Unit 2 Marketing Essentials Assignment Solution - H&Mlg...
|14
|4102
|653
Roles and Responsibilities of Marketing Function in Premium Innlg...
|15
|3761
|78
Roles and Responsibilities of Marketing in H&M 8 CONCLUSION 10 REFERENCES 11 INTRODUCTION Marketing Essentials TABLE OF CONTENTSlg...
|15
|3822
|61