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Marketing Essentials in H&M

   

Added on  2021-02-19

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MARKETINGESSENTIALS

Table of ContentsINTRODUCTION...........................................................................................................................1LO1..................................................................................................................................................1P1. Roles and responsibility of marketing function.....................................................................1P2) Roles and responsibilities of marketing ...............................................................................2LO2..................................................................................................................................................4P3) Comparing marketing mix process with two companies......................................................4LO3..................................................................................................................................................6P4) Marketing plan .....................................................................................................................6CONCLUSION................................................................................................................................9REFERNCES ................................................................................................................................10

INTRODUCTIONMarketing is an action which is implemented for promoting and increasing the selling ofthe product and services which is including market research and advertising. H&M is dealing inclothes and with new fashion accessories. H&M company is dealing in the fashion accessoriesand the clothes regarding women and men children. Study will explain role and responsibility ofmarketing in business unit. Furthermore, it will conduct marketing mix and will compare it withother firm. In addition, study will prepare marketing plan for H&M. LO1P1.Roles and responsibility of marketing functionMarketing functions have to play several roles and responsibilities and its all functionsare mainly responsible for the growth of the company. Marketing department has to performvarious roles and responsibility to fulfil the need and demand of consumers. These roles andresponsibilities include the following:Market research- It is one of the most important function of marketing. In this regardsthe marketing department collects and gather information related to the consumer and their needand demand. They have the main role and responsibility to analyse consumer trends and modifytheir products according to it. For doing market research they focus on market survey. By usingseveral modes of collecting data like use of questionnaire method and feedback so that they canhave an idea about if consumer are taking interest in their products or not.The main aim ofconducting research by marketing department is to know about the strategies followed by othersame industry's companies. It can help companies in increasing their profit share and it will alsohelp them in gaining competitive advantage (Stephen, 2016).Market promotion-Marketing department also have role and responsibility to promoteproducts and services of company for which they work. It can help them in making consumersaware about product and increase its sales. Various promotional methods can be used bymarketing department in the context of market promotion such as Facebook, Instagram, celebrityendorsement and many more and its all depends on the size of the company.Consumer alsobecome aware about the products through brand promotion. This promotional functions and rolesof marketing department help them in increasing their sales aspects. By Marketing promotion anorganization can achieve their objectives related to sales and profitability.1

Selling- Selling and marketing are often considered distinct functions within thepromotional element of the marketing mix. However, when looking at marketing andcommunications as a big umbrella that encompasses all promotional efforts, selling is a morepersonalized form of communication than other types of marketing. An organization can increasetheir sales by promoting their products and services through various promotional channels.Marketing has the role and responsibility to increase the sales by contacting to manufacturers andwholesalers (Wilden and Gudergan, 2015).Pricing- Marketing function of pricing has the role and responsibility to set such priceswhich attract consumers. Setting appropriate prices can help an organization in gainingcompetitive advantage. Setting Prices of products and services depends on competitors asmarketing department analyse that what its competitors and same industry companies areadopting pricing strategy. It can help them in making ultimate profit. An organization can makeuse of various type of pricing strategies in order to grow. They have this major role andresponsibility. Prices can be set according to consumers and competitors (Punjaisri and Wilson,2017).P2) Roles and responsibilities of marketing Marketing is handled by the marketing department which handles the promotion ofproduct and it has impact on the image of company. Consumer needs are satisfied and as wellinnovation as per time is important in the field of marketing. H&M company has as effectivemarketing strategies and plans. Marketing department is linked to other departments of thecompany in following ways.Marketing and production department: The main aim of marketing function is to Listen to theneeds of customer. Product must be made according to the demand made by the customers,demands like low cost of product and quality of the product must be as per need of customers.Customers give feedback and reviews of the company regarding the product to the marketingdepartment. This feedback and reviews are given to the production department for improvisingthe product by the marketing department. Production department of the company is improvisingthe product as per the marketing department which will satisfy the needs of the customers (Datta,Ailawadi, and Van Heerde, 2017).marketing with sales department – marketing department is giving the details of thecustomers to the sales department for increasing the sales of the product. Sales department2

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