logo

Strategic Marketing Assignment - H&M company

   

Added on  2020-10-05

13 Pages3932 Words465 Views
Strategic Marketing

ContentsINTRODUCTION...........................................................................................................................2MAIN BODY ..................................................................................................................................2Micro-environment analysis .......................................................................................................2Modes of market entry ................................................................................................................5Concept of market segmentation and targeting ..........................................................................6Porter's generic strategies to gain competitive advantages ........................................................8CONCLUSION .............................................................................................................................10REFERENCES .............................................................................................................................111

INTRODUCTIONStrategic Marketing utilizes by companies to create plan to better reach and satisfycustomers while raising profits and productiveness. It applies to determine consumer wants andto make marketing plan to accomplish customer satisfaction, modify execution of organization aswell as raising profitability(Hitt and Duane Ireland, 2017). It also assists business become moreadvanced and raise market ascendancy. Strategic marketing plan meet different goals such asimproving execution, creating business plan of actions, modification of operations of companies.This study is based on H&M(Hennes&Mauritz) that is multinational clothing retail company,now firm wants to enter India with the new product(handbag and men's purse). This report willexplain micro-environment analysis and state possible opportunities as well as threats withinmarket. It will assess three modes of market-entry and apply concepts of market segmentationand targeting to evaluate potential target market. Furthermore, report will apply Porter's genericstrategy, explain gain competitive advantages by adopting one of generic strategies in chosenmarket. MAIN BODY Micro-environment analysis H&M is multinational fast fashion clothing retail company in the UK. Company openstheir stores in many countries such as Brazil, China and other nations, now they want enter intoIndia within new products and services(handbag and men's purse). For entering into new countrywithin new product, company needs to analysis macro environment factors of chosen nation. Inthis analysis, political, legal, economic, technology, social, environmental elements are involved.Such as following:Political Factors: The political system is power and various political parties take concernin active political relation. Policies of authorities, interest of political leaders, governmentaltheory of various political parties are included in political environment. Income tax, services tax,property taxation as well as sales tax paid by people, because taxation method of authority iswell developed in India(Hill, 2017).For improving efficiency and productiveness of government,authority has followed their privatization policy. Therefore, it is easy to introduce newproducts(handbag and men's purse) by paying taxation. For effective taxation system,government has hold deregulating policy, authority stability and international stability that has2

made economic development in the nation. So that, authority pays attentions on various issues inthe nation.Economic Factors: The nation's economic condition is the powerful. It involves changesin taxation, interest rate, inflation, economic development as well as exchange rates. Theauthority of India presented industrial reforms in 1991 and there is decreased in industriallicensing, constitution of FIBP and liberalization of international capital that has madebetterment in the economic growth of India. The nation has promoted foreign investment inchosen country(Ginter, Duncan and Swayne, 2018). So that, it is easy to introduce new productand services by H&M in the India. Nation pays attention on education, health care, banking andfinancial sector. Therefore, H&M easily acquires bank loans for setting up the business in termsof introducing new products in India. Social Factors: The social factors of India consists of different societal trends andmodification such as values, cultures, lifestyle, traditions, demographics features etc. There arevarious standards in the society that are flexibility of population, income system, working hours,behaviour to perform and standard of qualification and ability(PESTLE Analysis, 2018). Nationneeds addressed labour market and societal growth index that are distressing situations.Government appears fail to control their atrociousness that promote them to grow in variousother regions. These actions have suffered reputation of India. By this way, people are notinvested their money in nation. These types of activities are harmful for H&M to introduce newproduct(handbag and men's purse) in the chosen country. Technological Factors: Chosen nation has created significant encouragement intechnology and it has fixed new smart phone with the latest description. It is centralizing onproduct development and now presented new cost cutting procedure. It given 3 G and 4 Gtechnology to its user and also serves. The advance technology has decreased cost, improvequality of good and lead to invention in their technology(Byron and Post, 2016). Therefore, it iseasy to H&M for introducing new products and services in the India by adopting new advancetechnology. The new operators are introducing their services involving IT evolution, governmenttechnology supporting, fresh material and its procedure, software upgrades and velocity ofpractical application movement. Environmental Factors: There are various environmental factors such as changes inclimate or weather that affects businesses like tourism, farming etc. the global warming is3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
PEST analysis Hollister - Essay
|6
|994
|154

Strategic Management of H&M: Analysis and Future Growth Options
|12
|3570
|2

Strategic Analysis of Manchester United Football Club
|15
|4705
|41

Retail Theory and Practice in UK - Assignment
|12
|3259
|47

Strategic Management of H&M
|13
|3466
|60

Analysis of H&M: External Factors and Competitor Analysis
|10
|2651
|43