Marketing Essentials

Marketing Essentials
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
LO 1 ................................................................................................................................................3
LO 2.................................................................................................................................................3
P3 Comparison of the ways in which different organisations apply the marketing mix to their
planning process to achieve business objectives.........................................................................3
LO 3.................................................................................................................................................6
Marketing Plan for the organisation............................................................................................6
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
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INTRODUCTION
Marketing is an essential function within an organisation and can be defined as the
process of developing interest among individuals to purchase a particular product or service by
undertaking various promotional activities (Akbar, Omar and Wadood, 2017). It can include
promoting, advertising, branding, selling etc. All these activities help organisations in building
their brand in the market and creating awareness. The organisation chosen for this report is H&M
which is a multinational clothing brand, founded in 1947 and known for selling fast fashion
products and accessories for men, women and children. The organisation aims at providing
affordable yet trending fashion products to its customers which has led the company in being
recognised globally and today offers products in nearly across 8 brands in various markets. The
report compares the ways in which different organisations use the 7Ps of marketing to achieve
their overall objectives and a marketing plan for the respective organisation.
MAIN BODY
LO 1
(Covered in PPT)
LO 2
P3 Comparison of the ways in which different organisations apply the marketing mix to their
planning process to achieve business objectives
The marketing mix can be defined as a set of actions that is used by organisations to
promote themselves and their products in the market. It also helps them in achieving goals and
objectives in an effective manner. The marketing mix consists of four basic elements namely-
product, price, place and promotion. All these elements help organisations to achieve their goals
and objectives in their specified target market. H&M should have a strong marketing mix so that
it is able to sustain in a highly dynamic and competitive market. The primary objective of H&M
is to build a business that is sustainable and fulfils the needs of both the present as well as future
(Baker and Saren, 2016). On the other hand, Zara aims at safeguarding the environment by
adopting various eco friendly practices which includes recycling, generating as much less waste
as possible etc. A comparison of the various elements of marketing mix for them is explained
below -
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Marketing Mix H&M ZARA
Product
H&M is a global brand that
offers its products in 5
different categories that serve
as product lines individually
but all the products are sold
under one brand name
(Campbell, Martin and Fabos,
2018). The products are
perceived as high quality as
compared to its competitors.
Zara can be regarded as one of
the most fast growing fashion
brands in the market. The
brand is famous for offering
products that are in sync with
the preference of the
customers. Also, the respective
brand sells products that are
trendy as well as not heavy on
the pockets of the customers.
Price
H&M currently follows the
strategy of competitive pricing
as competitors' data is
available easily since there are
a lot of them in the industry.
Although, the brand is known
for selling its products at
affordable prices, it still sells
them at a higher price against
competitors.
The brand primarily focuses
on average shoppers who seek
stylish clothes at reasonable
prices. This has helped the
brand attract customers from
all over the world and fulfil
their overall needs based on
the segment as well as region
they belong to.
Place
The respective company is
known for selling its products
primarily through two
channels, i.e., online through
its website as well as offline
through a large number of
retailers. The company also
sells its products in partnership
with many other brands which
Zara has a wide presence
across the globe with nearly
7000 stores. Zara came into
existence much before H&M
and is thus more stable and
diversified (Caragher, 2016).
Although, the brand as a lot of
offline stores, it also sells
products through its website
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