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Principles and Practice of Marketing in H&M Group : Report

   

Added on  2020-07-22

14 Pages3734 Words164 Views
Marketing
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Principles and Practice ofMarketing
Principles and Practice of Marketing in H&M Group : Report_1

Table of ContentsINTRODUCTION...........................................................................................................................1Question 1........................................................................................................................................2Examine and effectiveness of the organization with current branding strategy.........................2Question – 2 : Compare standardization and adaptation models to the international marketingmix of your brand.......................................................................................................................7CONCLUSION................................................................................................................................8REFERENCES..............................................................................................................................10
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INTRODUCTIONPrinciples & Practices of Marketing means to understand how to interact or communicatewith customers with the activities of serving product and services to customers. It is the mostcritical function of a business to find the profit and loss of the business. In this currentassessment there will be discussion on H&M Group stating the brand equity models and currentbranding strategies of H&M and by applying Glocal theory to the international marketingstrategies in the organisation. Hennes & Mauritz (H&M) group is a Swedish multinational company. Is is one of theworld's largest clothing company, it is mainly a retail company known for its latest trends, fastfashion for men, women, youngsters and kids. The headquarters are located in Stockholm &Sweden. It is famous for its brands- H&M, H&M Home, COS and other stories, ARKET,Weekday Cheap Monday , Monki, all these brands have their unique identity. All the brands ofH&M group is famous for its fashion and quality. There are over 4500 stores and operation inabout 62 countries. H&M is providing employment around 132000 people and it create about 1.6millions jobs in textile industry. The position of H&M is second rank in the world and it has 36thrank in the Forbes Magazines. The online shopping is available in 33 countries, it has itssignificance in internet, having 44 online markets. H&M group sales including VAT is 232billion in 2017. Marketing StrategiesSegmentation, Targeting and Positioning is the main keys of marketing strategies ofH&M. Demographic, psycho-graphic & geographic divisions are the various accessories ofindustry. The age of customer, income, gender, attributes, religion, personality, and brand loyaltyis the main variables of H&M. H&M is operating with different sub brands and it concentration is on each brands byusing targeting strategies made by the management of the group. The strategies are made toachieve the targeted goals of the organisation and H&M marketing coverage is adorable onlybecause of technical strategies. H&M has its best visionary outlook, it posses the ability to have a clear idea about whatshould happen in future and what to do in future. H&M has powerful imagination capability. Ithas creative ability to change in future according to the demands of customer in market. It has itspositioned itself by its new fashion trends, style and quality at best price. 1
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H&M has competitive analysis strategies also, company is facing highest competitions inthe market. It has to work more on quality of the clothing as there are competitors sitting on thehead of the company. The competition in clothing industry is much fastest compare to otherindustry. H&M is fighting competition with many brands and its ability of fastest visionaryoutlook is proving the company the best in the market.H&M is customer oriented company, as the main analysis, strategies are only made toread the mind of customers and to know the needs of customers. H&M is leading in wide andvaried range of customers as in men, women, youngsters and children's but still company isdressing their customer in sustainable way. Brand is a name, deign, symbols or other features that distinguish the organization ororganization from its product rivals in the eyes of the customer. The foundation of brand is thelogo of the organization. Brand is a marketing practise of creating symbol that desigh determinea product from other product. Effectiveness in brand strategies gives a major edge in incresingcometetion in the market. Brand is not onlt the symbol or name it is exactly a promise to thecustomer. H&M is a Swedish Multinational Company in clothing. H&M company is taken inthis assesment because it is a company which have highest brand positioning in fashion trends. Itis highly reputed company which have large number of customer and adorable market place inthe world. The assesment is about the introduction is about the H&M company is H&M is acustomer oriented company, as the main analysis, strategies are only made to read the mind ofcustomers and to know the needs of customers. H&M is leading in wide and varied range ofcustomers as in men, women, youngsters and children's but still company is dressing theircustomer in sustainable way. H&M has competitive analysis strategies also, company is facinghighest competitions in the market. It has to work more on quality of the clothing as there arecompetitors sitting on the head of the company. The competition in clothing industry is muchfastest compare to other industry. H&M is fighting competition with many brands and its abilityof fastest visionary outlook is proving the company the best in the market. The assesment isintroducing the KELLER's Brand Equity Model which is based on Customer-based Euity Model.Is is the model in which customer is main focus. To sustain the market share, H&M is usingKeller model to improve and manage the market share in optimistic form in the organisation.This model is in positive form by which company get helps in many ways. H&M is alos usingthis model for satisfing its customer about the barnd quality. The report makes understand the2
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