Marketing Mix of ZARA and H&M Clothing
Added on 2020-06-06
13 Pages3829 Words4514 Views
Marketing Essentials
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 2............................................................................................................................................1P3 Comparison between 7Ps of marketing mix of ZARA and H&M clothing stores................1TASK 3............................................................................................................................................5P4 Evaluation of marketing plan for an organization.................................................................5CONCLUSION..............................................................................................................................10REFERENCES .............................................................................................................................11
INTRODUCTIONMarketing is an essential activity that every organization possess for higher productivitythat brings larger revenue into organization. There are various tools and techniques that help inadequate completion of tasks and actions (Albert, 2014). These tools and techniques aremarketing mix and marketing plan. Marketing plan includes strategy of new productdevelopment and market analysis with help of various tools that are SWOT analysis, PESTLEanalysis etc. marketing mix comprises all factors that are necessary to accomplish businessactivities for e.g. product, price, place and promotion. It also includes 3 other points that arepeople, process and physical evidence. This works as procedure that starts with offering and endsup with placement of goods and services in consumer's mind.TASK 2P3 Comparison between 7Ps of marketing mix of ZARA and H&M clothing storesMarketing Mix is a tool that helps in efficient persuasion of marketing activities that willgenerate more profitability as well as increases market share of organization. It is mainly havefour attributes that are Product, Place, Price and Promotion. After some it was felt that thesepoints are not enough to manage marketing actions and later on three more factors were addedand these factors are People, Processes and Physical evidence. These are seven essentials ofmonitoring marketing activities and covers all area of marketing. There are various differences inmarketing mix tool of ZARA and H&M which stated below:BasisDefinitionZARAH&MProductIt is an item that iscreated or prepared tomeet wants and desiresof target customers.This can be tangible orintangible (Babin andZikmund, 2015).Intangible products areformed as services thatIt is a well knownname in fashionindustry. It hascomplete control on itsproducts as it does notoutsource its goods.That is a majorstrength of company.It quickly responds onIt is a most trustedfashion wear company.It has wide productportfolio. It deals inseveral products thatare fashion weras likejersy, jackets, jumpersetc. and accessorieslike bags, jewellery,1
is used by itsconsumers directly. changing needs offashion of customersand also cope up withvariabilities likecultural needs, designsetc. It has wide rangeof products that variescountry to country.shoes etc. companyfocuses on affordableprices that will enablethem to release theirnew products inregular gap of time. PriceIt carries an amountthat a customer canpay to enjoy product(Dibb and Simkin,2013). It is a veryimportant componentof associations'offerings thatdetermines success orfailure of goods andservices. ZARA provides pricesthat is affordable tocream customers thatcan compare ZARAwith H&M and othercompanies. Thisenterprise has twokind of stores one ispremium and otherone is regular.Premium stores keepluxury products andregularhavereasonable pricestores. Prizing policyof association ispremium pricing. Thatis made by optimizingT&D cost. Its pricing policydepends upon rangesof products that is whyit has wider pricerange which is set tosuit every kind ofconsumers. This willlead more sales thatbrings larger revenueinto corporation. Italso comprises variousschemes and discountson new stock. It makesorganization's articlesmore economic whichis affordable for creamand non-creamcustomers (Crain andet. al., 2014). This kindof pricing maintainszeal of customers incorporation's offerings.PromotionIt is a tool or makingThis business entityThis company focuses2
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