Marketing Essentials of Hennes & Mauritz
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Added on 2020-10-05
Marketing Essentials of Hennes & Mauritz
Added on 2020-10-05
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MARKETING ESSENTIALS
Table of ContentsINTRODUCTION................................................................................................................................3LO 1......................................................................................................................................................3P1 key roles and responsibilities of the marketing function............................................................3P2 Explain how roles and responsibilities of marketing relate to the wider organisational context..........................................................................................................................................................4LO 2......................................................................................................................................................6P2 H&M v/s ZARA- Marketing mix strategies:..............................................................................6LO 3......................................................................................................................................................8P4 Marketing plan for Hennes & Mauritz.......................................................................................8CONCLUSION..................................................................................................................................10REFERENCES...................................................................................................................................11
INTRODUCTIONMarketing essentials refers to understand the concept of marketing and learn somethingfrom them and identify the market, it is all includes in the marketing essentials.Hennes & Mauritz is a clothing retail company which founded in 1947 in Sweden and its foundername is Earling Persson. H&M operates in 62 countries with high retail market of cloths. It is thesecond largest clothing retailer company in global map(Pike, 2015).This report will include role of marketing and how it interrelates with other functional units of anorganization and Compare ways in which organizations use elements of the marketing mix (7Ps) toachieve overall business objectives. Also develop a basis marketing plan.LO 1P1 key roles and responsibilities of the marketing function.Marketing is the process of promoting goods and services in which product have to be sell.It includes advertising, promotion and selling of goods with developing a marketing strategy. It isthe process of planning organising and summarising or directing. Every company need a marketingplan to efficient running of the organisation(Pike, 2015). There are many roles and responsibilitiesof marketing function and they are following-Marketing research- Marketing research is very important for any organisation and H&M alsoneed for marketing research to know about the needs and wants of the customers and also to knowabout the satisfaction level of the consumers. Marketing research is the key responsibility ofmarketing department of H&M. It helps company to better know about the opportunities andcustomer needs. Through marketing research H&M also know about the strength and weakness ofthe other competitors. Research is also do through the primary and secondary data and with onlinestudy of the product.Management- Marketing is the process of management which involve planning organisingcontrolling and other things. It deals with the goals and objectives of the organisation so it is amanagement process with including employee and customer relations. Manage and find the groupswhich have more needed the products of H&M. In marketing function they also have to manage theproducts which are already in deal with clients(Pike, 2015).Product development- Marketing department works with the strategy of develop the product it
may be developing of existing product or a new product. Marketing department analyse the productgape and also gape between the price of the products between other companies. Marketingemployees provide all the news regarding the satisfaction level of that particular product and whatis the market demand related to this product. Sales support- Marketing team also support sales activities because cooperation of sales team andmarketing team is too good for companies because they both are different but mainly their target issame and that is increasing customers of Hennes & Mauritz. Marketing team helps them to tellabout advertisement and new strategies of marketing which use by them and it is profitable for salesteam because through this strategy they can aloes apply their efforts toward the product (Ottman,2017). Marketing team also helps the sales team by applying presentation and distribute prospectsregarding the cloths and their price and it will help the sales team in selling the product andpenetrate the market toward Hennes & Mauritz.Organising events- Hennes & Mauritz company organise many of the event regarding to newarrivals and they also arrange seminars on some places because their employees are everywhere andthrough event they easily approach to them and tell them about the new objectives. They make alsopresentation for this and learn the other employees about the product with comparison chart andsituation analysis of the market trend.Communication - It matters in everything because it is necessary to have better communicationwithin and outside the organisation. Marketing team are preferable for communications skill andthey provide the best things to the department in form of advertising, audio campaign and videocampaign. In these all process communication matters and they discuss everything with the teammembers and upper level employees(Ottman, 2017).A good marketing department use AIDA model in which four contents come which are awareness,interest, desire, action. This model refers to that once customer have to aware about the product andknow about the existence of the product then after it they make interest upon the product maybethey like the product and after this their desire comes regarding to the product and if their desiremeet with the product then next step is action means they purchase the product.P2 Explain how roles and responsibilities of marketing relate to the wider organisational context. Marketing roles in H&M organisation: Identifying customers need and preference H&M, a clothing brand belongs to fashion industrywhich is changing at an ever increasing rate so the marketer has to continuously evaluate thecustomer preferences and has to conduct periodical surveys to know about the consumers choices,what they think about the rivalry firm's product and their degree of shifting to other brands.
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