Marketing Essentials Assignment - Hennes & Mauritz
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Added on 2020-11-13
Marketing Essentials Assignment - Hennes & Mauritz
Added on 2020-11-13
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Page | 2Marketing EssentialsIntroduction to ReportThis report is for Hennes & Mauritz (H&M), a Swedish multinational fashion clothing-retailcompany. This report has three parts. At first, the role of marketing and how it interrelates withother functional units of H&M will be defined and described. In the second part, ways will becompared in which organisations, H&M and Zara, a Spanish fast fashion (clothing andaccessories) retailer, use marketing mix elements to achieve overall business objectives. In thethird and last part, a basic marketing will be evaluated and developed for H&M.Part 1Explain the role of marketing and how it interrelates with other functional units of anorganisation.Roles and Responsibilities of Marketing Functions Carried Out by H&MH&M has some key marketing functions and the following are their basic roles andresponsibilities:Effective managing method The main role of H&M’s marketing purposes is to lead the business to convey out theirsupervision functions accurately in demand to make them effortlessly vacant to the markets.They support for the provision of every accomplishments from the raw materials’ collection tothe products’ delivery by the customers’ choice of the products they wanted by assuring effectivemanaging support. (Mo, 2015)Guaranteeing customer contentment Focus of H&M’s management is on getting information associated with the customer’s choice,manners and observations to meet their preferred products within short time span. From thecustomers, they take their opinions through a variety of methods and facilitate customers by
Page | 3providing with precisely the same products to make sure their absolute satisfaction. (Earley et al.,2016)Observing the standards The management makes great effort to offer high quality products to the customers than theircompetitors by using quality assets from the suppliers. Through this approach, they can payattention to the value of both from the customers by earning their loyalty and through theirsuppliers by making sure achievement their credibility. (Hooley, 2008)Using marketing mix Product: Providing an extensive range of fashion cloths and accessories, along with sportswear,cosmetics and home appliances, at lower price and with the finest quality, inspired by the latestcatwalk trends.(Tungate, 2014)Price: Price is based on cost, which is cheap and affordable (Smith, 2018).Place: H&M focuses on well-known high streets where the brand has established its physicaloutlets/stores. H&M is also running a website for online shopping as an e-commerce platformthrough which different products and services can be accessed by H&M’s customers. (Smith,2018)Promotion: H&M pays strong attention to promotion, which includes advertising, both off-lineand online, and direct marketing (Boone and Kurtz, 2015).How Marketing Related Roles and Responsibilities Relate to H&M?H&M needs to pay attention to the following some roles and responsibilities:Effectiveness and Efficiency Marketing involves some key activities and tasks, through which goals and objectives areachieved, and such tasks will make sure achievement of organisation’s effectiveness andefficiency (Tracy, 2014). Importance of the tasks’ efficiency and effectiveness is much more tomake sure the best performance and productivity.
Page | 4Customer Satisfaction Through marketing process, customers can get their desired products as per their needs (Booneand Kurtz, 2015). Through best marketing process, H&M becomes successful in ensuring theconsumer satisfaction.Competitive Advantage Competitive advantage indicates a company’s unique qualities, over the competitors (Hooley,2008). H&M’s marketing has been successful and thus they have achieved the competitive edgeby providing unique quality products in the market. Therefore, the roles and responsibilities lead an organisation, like H&M, to the wider context andit relates with its both internal and external functions. Internal functions of H&M includefinance, procurements and manufacture and research and development (R&D) function, where asexternal functions are managing and serving existing and potential customers, competing andmaking relationship with competitors, dealing with suppliers, and making good rapports withintermediaries supporting the marketing activities to reach the products to the customers. (Tracy,2014)Part 2Compare ways in which organisations use elements of the marketing mix (7Ps) to achieveoverall business objectives.In past, both H&M and Zara have been using marketing method of advertising and havesimilarly done very well. In the early 2008, both giants were far superior but affected by theeconomies ruin. The best promotion approach of H&M has been the manageability throughwhich the company has been made a very productive business (Chow et al., 2017). Zara, on theother hand, uses the showcasing method through which they have ten thousand single thingsannually going through their stores (Tungate, 2014). Both companies have a highly effectiveproduct promotion system. Both giants are indeed amazing and highly preferred fashion brandsamong youth.
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