Marketing Essentials of H&M Report
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Added on 2020-07-23
Marketing Essentials of H&M Report
Added on 2020-07-23
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MarketingEssentials
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Roles and responsibilities of marketing functions ................................................................1P2 Interrelationship of marketing department with other functional units.................................3TASK 2............................................................................................................................................4P3 Marketing mix of two different organisations.......................................................................4P4 Develop a basic marketing plan.............................................................................................7CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONMarketing plays an imperative role in growth and success of every business organisation.Its main objective is to attract more and more customers from target customers by providingthem qualitative products and services. Along with this, marketing department of the company isalso liable for conducting marketing research in order to know needs and wants of people(Baines, Fill and Page, 2013). H & M is the chosen organisation in this present assignment; it isthe largest fashion retailer in Europe. It has around 1500 outlets over 40 countries and the annualturnover of the company is $112 billion. Apart from this, the report will be described roles andresponsibilities of marketing functions and how it is interrelated with overall organisation. Therewill be a comparison between marketing mix of two companies. Furthermore, a basic marketingplan is developed in order to achieve goals and objectives of the firm. TASK 1P1 Roles and responsibilities of marketing functions “Before understanding roles and responsibilities of marketing functions, readers came toknow the core concept of marketing. Marketing - “Good marketing makes the company look smart and great marketing makes thecustomers feel smart”. Beside this, marketing is a management process through which productsand services are moved from its customers. It is an activities that helps companies to generatevalues within their offerings in order to increase sales and profitability. Along with this, themarketing manager of H&M is liable for all this administration so that all tasks can be done inproper manner. Below mentioned are the various roles and responsibilities of marketingdepartment: - Marketing helps a firm in defining as well as managing its brand at marketplace, thusmore and more customers can be attracted.It also demonstrate the products and focus on overall sales cycle. Another responsibility of marketing department is to listen customers needs and try tosatisfy them in an effective manner. Beside this, it also helps in interacting with targetaudiences so as to resolve their all queries and problems (Berkowitz, 2016).
Marketing manger develop a marketing plan by analysing all necessary factors that willaffect business performance and productivity. Therefore, in order to manage all things in proper manner; marketing department ofH&M needs to follow certain functions. It aids firm to achieve its goals and objectives in acertain time period. Roles and responsibilities of marketing functionsBuying and selling- When applied to marketing, purchasing function refers to decidewhich kind of products to be purchased. In multinational organisations, decisions arebased upon customers needs and demand. Buying includes thousands of merchandiseorders that vary in quality and quantity. Apart from this, selling function works veryclosely with marketing; it is known as central activity of the company (Blythe, 2012). InH & M selling encompasses with identifying customers and evolve a promotionalcampaign in order to bring large number of people. Transporting – Transporting is the another function of marketing; companies areengaged with this for selling its goodies into target market. In other words, it is theprocedure of moving products from its production place to marketplace so that users caneasily buy it. In H&M, manufacturer uses this function for shipping goodies to wholesellers or retailers. Hence, transportation is an important function it makes purchasingprocess easier and flexible. Storing – There is a time lag among manufacturing and buying of goodies and its sale.It is fundamental for managers to store products at safe place during this period. Nowthese days, firms prefer to store its products into warehouses until they are demanded.Even small as large business association are using this concept. The largest fashionretailer, i.e. H & M also have its own warehouses or other storing spaces. It helps insupplying products and services when they are demanded by customers. Financing – There are different aspects financing in marketing field. of This functionrelates with paying for raw material to sell and composing credit for buyers. Along withthis, managers require huge amount to purchase raw material and they also have to payto merchandise at the end of the month. As a business owner, management requires highfinance in order to produce new products and innovation, advertisement, promotion etc. 2
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