A Detailed Marketing Report on H&M's Strategies and Objectives

This report provides a comprehensive analysis of H&M's marketing strategies, exploring the role of marketing within the organization and its interrelation with various functions. It delves into the marketing mix elements (product, price, promotion, place, people, process, and physical evidence) and how H&M utilizes them to achieve its business objectives. The report also examines the market and production functions, highlighting their interconnectedness, and includes an overview of H&M's marketing plan, incorporating SWOT and PEST analyses to assess its strengths, weaknesses, opportunities, threats, and the political, economic, social, and technological factors influencing its operations. Furthermore, it discusses the STP (segmentation, targeting, and positioning) strategy employed by H&M to effectively reach its target market and maintain a competitive edge in the fashion retail industry. The report concludes by summarizing key findings and insights into H&M's marketing approach.

Marketing essential

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK...............................................................................................................................................1
Role of marketing and interrelates with function of organisation...............................................1
Market and Production functions.....................................................................................................2
Way organisation use element to achieve business objective......................................................2
Marketing plan.............................................................................................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing is the most misunderstanding discipline in today management. It commonly
used synonym for an activities related for an shopping, but it has beyond selling an product.
Hennes & Mauritz(H&M) is Swedish multinational clothing retail organisation that are known
for fast-fashion clothing for women, teenager men and children. H&M associate companies that
operate in 62 countries. This report highlight the role of marketing and function of organisation
ans also various element to achieve the organisation goal
TASK
Role of marketing and interrelates with function of organisation
Marketing is business process where it create the relationship to satisfy the consumers
and also focus on consumer (Djordjevic, 2018). It is primary components of an business
management. Some of the role of marketing are-
Meets needs and wants of consumer:
Needs are already exist in the market. Marketers finds the wants of the buyer and try to
use marketing strategies. Marketers influence the wants as it is shaped by an individual
personality and cultural. And through exchange process all needs are to be satisfied.
Growth, reputation for organisational survival
Business survive in the market because of increase in market share and consumer
retention (Harris., 2016). To achieve the organisation objective marketing helps because of an
consumer-centric. Also marketing helps the buyer to satisfy beyond its expectation. It helps the
organisation to increase in sales which result in more growth & reputation of the company.
Wide market:
Marketers use large volume of communication tools like sales, promotion, advertising,
marketing event and also try to promote its products widely. Additional to it public relation
program that build & try to protect organisation picture and product. Marketing can be made
more interactive through revolution in the media technology. Hence it increase the awareness of
the organisation product in the market and widen the market which is beneficial for the growth of
the organisation (King, , 2018).
Offer better product
As many organisation sell products in the business market. Such as physical product, the
product have to well labelled and design. Marketing plays essential role in designing the product
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and managing the product. So that the customer can get attract towards the product by seeing the
best design and packaging of the product. Hence offering best product to the buyer it increase the
sales of the organisation (Jørgensen, 2016.) .
Market and Production functions
To meet the buyer expectation and try to satisfy the consumer. H&M Company can mix
the marketing with the production function. It is very essential for the close relation to increse
the performance of an firm. As the cooperation between the function of marketing and
production it helps in friendly communication, which results in fulfil the needs of the customers
and raise in the organisation profits and increase the production of the company. Marketing
function mainly focuses on buyers satisfying and require of the customers. As the production
department helps the marketing by informing the stock of products and its availability. It support
the marketing function as through this marketer can marketing the product and services in the
market. Hence both function are essential for each other (Salwa. and Sudarsan, 2018).
Marketing and HR function
As the marketing have the connection with an customer, Marketing help and promote
mission and values of an organisation. Through promotion , it help to attract the workers.
Marketing help an HR department and workforce by adapt method of communication and
marketing the workforce that have experience of an communication with that of the buyer.
Where as the HR department serves an organisation employees. HR having the connection with
the workforce, HR helps the marketing by share brand message make in the marketing with
workforce by an training sessions,worker orientation and evaluation (Prasomsap and
Laothamatas., 2017) .
Marketing and finance function
The marketing function helps the financial department as the marketing raise the sales
through the advertising & sales promotion. By this it increase the sales of the organisation and
organisation can earn good profit out of it. Where as finance department find how much fund
receive & investment can grow or reduce at what rate. If the company get more profit than they
can invest more on marketing.
Way organisation use element to achieve business objective
Marketing mix
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Marketing mix is an operational part for the marketing plan it is also known as 4ps and 7ps
Product
A product of an H&M organisation that produce to satisfy the desire and needs of an
certain people and customer. Where the product may tangible and intangible in nature and
product are in form of goods and service. To achieve the organisational goal it must ensure that
right type of product and quality are to be made (Djordjevic, 2018). During the development of
product the marketer do an research on the life cycle of product they creating.. It essential to
reinvent the products and stimulate much more demand as it reachs at sales. To expand the
current product with the help of diversifying & raise depth in product line. It increase the sales of
the product that can help the H&M organisation to achieve the firm goal.
Price
It is an amount that the customer pay to buy the product to fulfill it needs and wants. It is
an essential part of the marketing plan as determine the H&M organisation profit. As adjusting
price of product have big impact on whole marketing strategy and affecting sales of product and
demand of product. If the price of the product is low as compare to the competitor it increase the
sales rate and If the price of the product is high than the customer can shift to other product an it
can decline in sales rate in the business market and than it make difficult for the organisation to
achieve the organisational goal (Harris., 2016).
Promotion
It concludes that company tell about its buyers and about its products. Small changes in
the form of advertisement that can help for immediately for higher sales. Through promotion of
the product in the business market time to time and also make changes in the way of marketing
according to the market sometime.. Which help the consumer to identify the difference btween
the right products and consumer get attracted toward the right product and buy the product. Like
wise the promotion helps the H&M organisation to increase the sales & helps the organisation to
achieve the firm goal (Jørgensen, 2016.) .
Place
. It is also an essential of reviewing the exact location of the business. Sometime change
in place make higher rate of sales. To achieve an H&M organisational goal the fitm can make
right choice or best location according to the customer review and also try to find essential
purchasing behaviour of an product and service that require to create an buying decision. And
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find which is best suitable place that is convenient for the customer. Where more and more
people can come to buy the products. By choosing the right location can improve the profit of the
company (Prasomsap and Laothamatas., 2017) .
People
People represents the workforce,freelancers and consultance that deliver an service to the
buyer. For the successful of business, develop the habit of thinking in order to exact who going
to take every task ^ responsibility. In many situation they not move beyond till they attract the
right person and implement into correct position. Many business or best organisation ever
develop till not find key people that can execute an plan. And if the right people is placed than
the company has to pay few attention for an each singal decision that is carried by an specific
person. So the right people is essential at the right place for the better performance and result of
the organisation (Salwa. and Sudarsan, 2018).
Process
It is the step that are required to provide the service to the buyer. Advantage of the
organisation service delivery that make an process of the work in which is to be done that
includes the function, process, activities and tasks. It helps the H&M organisation to share the
process to its workforce which make ensure that work is not repeatable & become successful.
And also help the organisation to achieve the goal by following the process in the organisation,
which can reduce the conflict and misunderstanding among the employees and increase the
productivity of the company.
Physical Evidence
It is the combination of environment and the branding of the organisation, where it provide the
service to the buyer through an service representative. The capital of physical evidence that are
service broacher, social media, request proposal and other different deliverables from H&M
firm. It help the organisation to attract the customer towards the products and the organisation
and make the customer loyal to the organisation or its product which helps the firm to raise the
sales and to achieve the goal (Djordjevic, 2018).
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Marketing plan
H&M
Mission- It drive an long lasting that have positive changes to improve the living condition
through investing people, innovative ideas and communities.
Vision- Vision of the H&M company to change an circular and the renewable fashion of
industry., to become an equal firm (Jørgensen, 2016.) .
Objective- Its main objective to achieve the climate value chain positively by 2040.
SWOT of H&M
Strength Weakness
 H&M has its presence with an strong
brand value at global world.
 It continuously remain stable at the
financial stage
 Its mall strategy are failed in the united
state
 H&M can easily replicate the design
which is one of the weakness of the
firm.
Opportunities Threats
 Its popularity is increasing day by day
of an online stores.
 As it presence at global market it
purchasing power increasing at global
level.
 H&M require and continuous for more
innovation line with the current trends.
 Dynamic changes in the global that
creates an threat to an organisation.
PEST of H&M
Political Due to changes in the economic and trade it create impact on H&M firm.
Economical As changes in tax system of an Asian market and also changes in the
economic scale have impact on the H&M company.
Social As keep on changing taste and preference of the customer create an issue
for the organisation for decision making.
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Technological Today raising the essential of an online channel may affect the sales of
the company.
STP of H&M
Segment- H&M operating clothing and accessories company that mix different psychographic,
demographic and geographical segmentation. Such as gender, race , brand loyalty etc.
Targeting Strategy- It operating with various sub -brands in business market and with an varied
offering (Prasomsap and Laothamatas., 2017) .
Positioning- As H&M is based on visionary where it outlook on become ahead that offer the
trend style & quality at the best price.
Marketing Mix
Product- Where the product has certain life cycle such as growth, maturity and sales phase
Price- Pricing helps to shape perception in the front of customer regarding the products.
Place- Place is the next step of the marketing mix where the where the products are to be sold
out by selecting the right location for the business.
Promotion- It make aware about the product and services of the products of the organisation and
also make aware about the quality of the products as compare to the other competitor in the
market (Salwa. and Sudarsan, 2018)
People- As it is important to hire right people in the firm that fit the corporate culture.
Process- It is the procedure through which the organisation perform its task by using this for
better work.
Physical evidence- It is the physical and outer look of the firm and product which attract the
consumer and raise the sales of firm.
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Budget
months Jan Feb March April May June
revenue 20000 30000 40000 50000 60000 70000
cost
S& D 1000 1100 1300 1500 1800 2000
marktig cost 2000 2200 2300 2500 2800 3000
promotion 1000 1100 1300 1500 2800 2000
total 4000 4400 4900 5500 7400 7000
profit 16000 25600 35100 44500 52600 63000
Control and monitor
Company will use test marketing to monitor the progress and will use benchmarking
system for controlling over the marketing process (Djordjevic, 2018).
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CONCLUSION
From the above study it can be concluded that marketing is the supporting tool which
helps in managing work and raising sales in the company. Social media supports in attracting
people and generating sales in the firm.
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REFERENCES
Djordjevic, S., 2018. MARKETING STRATEGY AS MECHANISM OF EFFECTIVE
CORPORATIVE MANGEMENT. Knowledge International Journal.26(1). pp.129-136.
Harris, P., 2016. Political Marketing, Business & Management Video Collection, Sage
Publications.
King, T., 2018. Method and system for regulating consumer-generated participatory
evaluations within a reputation mangement framework. U.S. Patent Application
15/497,117.
Jørgensen, O.H., 2016. Counter narratives inplace and city branding and their influence on
brand mangement. InConference Proceedings of the Inaugural conference og The
International Place Branding Association (pp. 109-110). International Place Branding
Association.
Salwa, C.H. and Sudarsan, N., 2018. Conceptual Framework for Marketing Strategy in the
Context of Small Business: A Review. IJAME.
Prasomsap, Y. and Laothamatas, A., 2017. Poverty Mangement strategies for Small-Scale
Farmers through Alternative Economics: The Philosophy of Sufficiency Economy. PSAKU
International Journal of Interdisciplinary Research. 6(1). pp.92-102.
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