Marketing Essentials Of Hennes And Mauritz

Task 1 - LO1

P 1 Key roles and responsibilities of the marketing function in relation to H&M:

H&M being a popular brand for the customers creates the brand value in the unique way so that the customer purchases from the brand. Marketing planning and strategy is the main triggering point for the brand to be globally popular and determine effective objectives of the code of Ethics. The company H&M has a transaction in all other countries so maintaining good relations with the suppliers and the business partners can drive the business in the positive way. Collaboration with the stakeholders is the process of strong communication that the marketers follow with regular meetings, dedicated surveys, and active participation in several multi stakeholders' initiatives. For the creation of long-term relations and bonding with the customers, the markets of H&M also check the products and services along with the delivery channels, for the future benefit of the company. Internal marketing is a sales technique of the company to maintain harmony with the employees to treat them as customers and make them understand all the business functions (Gummesson et al. 2014). H&M believes in the same technique and they create value for the company to manage the employees very well. The segmentation and lead generation of the market give the company a clear view about the company that how they can operate the stores in various places. The most essential plan in the marketing function is keeping an eye on the customer experience and service (Ehret et al. 2013). The marketing head decides the entire marketing component related to the customer of the H&M Company to match up with the customer preferences and deliver the high fashion things with time. As the business of the company operates in the open market, the marketing team promotes it through direct marketing. With the consideration of the trading rules, H&M uses inside market information to get knowledge about the significant effect on the trading price of the H&M share. For employee appreciation, and to generate the progression of work the marketing team of the company creates an employee incentive program.

P 2 The roles and responsibilities of marketing relate to H&M:

H&M has a clear strategy in the business concept to serve the best quality fashion at the very best price for the customers. The company believes in sustainability and keeps that in mind they are growing ahead in the global retail business criteria. The marketing strategy of any Company should be driven, customer-oriented, and responsible for maintaining the brand value and believe in creativity (Schmidt et al. 2014). The marketing team has planned the company's growth and productivity in different manner. The roles and responsibilities of the marketing team in H&M include creating an appropriate customer base, delivering quality design and products with the standard of the market, meeting customers' needs, long long-term cooperating with other suppliers and business partners. The marketing team is deeply in brand management to exaggerate the brand value. Believing in the sustainability theory the targeted customers of this brand are Men, women, and children with the basics of modern and high fashion. The marketing director with the sheer concentration of the market creates an overall strategy to compete with other global brands with the help of advertising online, through magazines along with the media and the agency relationship. The responsibilities include insight into the market, applying innovative strategies of promotion, use project management initiatives through new platforms by getting to know customer preferences and new fashions in the market. The marketing involves liaison with sales of the products, sales in different stores, effective pricing of the products so that the customer can feel of buying things, broad market research about other competitors, production- consumption possibility, and distribution of the product, public relations, most effective events management to catch the attention of the customer.

M 1. Analysis of the role and responsibilities of marketing in the context of the marketing environment relate to H&M:

The marketing environment is the foremost important thing for any company to operate in the global market (Perreault et al. 2013). H&M Company believes in creating an appropriate marketing environment to bring growth in and outside the company. The marketing environment is the forces and factors that affect the organization to build a successful market position for the company itself and for the customers (Gbadamosi et al. 2013). The marketing team with the concern of the macro and micro environment related to the internal and national factors that is small factors within the company that affect the customer base and ability to serve the customer and the larger societal forces that affect the microenvironment including finance, operations, development, purchasing. The targeted customer of the company will get full satisfaction with the best product deliverance in the proper time. The marketing environment of the H&M Company focuses on the demographic, cultural, economic, and technological aspects because the company has a greater expansion in various countries and all the places and the customers are differentiated from each other in fashion sense, purchase behavior, and consumption pattern. The company suppliers, competitors, publics, customers, and intermediaries play a vital role in creating an effective marketing environment because the suppliers of the product decide the smart way to transport the product through the help of the best supply chain that can work in the fastest way. The technological marketing environment of the H&M brand indicates better communication in and outside the company. Inside the company, it uses advanced technology with bar codes for product scanning, inventory management in a technical way, and in-house brand transfer in minimum time. With the global aspect of environmental marketing H&M focuses on better trade agreements, analysis of the competitors, future opportunities in the market, and managing all the fashion trends to deliver the best things to the customer.

M 2 The significance of interrelationships between marketing and other functional units within H&M with the reference case study:

The marketing and the other functional units of the organization correlate with each other to create an effective management structure (Balmer, 2013). The H&M marketing team believes in working with collaboration with other areas of the company to bring out the best in terms of customer satisfaction and company growth. The company's value chain needs to be maintained by the coordination of the other departments as well. Marketing alone cannot produce a superior value for the customers so the other functional area must work to complete the whole task (Kohli et al. 2014). The marketing team is now operating with the help of the inside store process, the recently launched chain called Collection of Style or COS merges high fashion with extremely competitive pricing is an example of that correlation. The in-store design displays the store ambiance and the marketing display of the store from outside creates to grab the attention of the customer. The store displays are designed for the customers to find the best fashion according to their choice matching their own style irrespective of any occasion with the help of the in-store fashion consultants and staff. The company now thrives on creating product mixes with the help of the best buyers and suppliers. The product of the H&M to market acquires big support from the UN programs, the Designers against Aids initiative, and campaigns to increase the use of organic cotton, reduce the usage of chemicals, and the implementation of more energy-efficient transportation and it is a big support from the functional unit to the marketing team (D1). The insiders of the total operation in the store along with the marketing team through proper market penetration go for the diversification of the market as well as for the products.

Task 2 -LO2 

Elements of the marketing mix to achieve overall business objectives:

As H&M is operating globally with an insight to achieve the best market place the business environment for the company needs to achieve in a strategic and planned way. In this prospect, the marketing mix, includes product, price, place, promotion, process, people, and physical environment. The product needs to meet the customer demand in a continually evolving marketing space in accordance with customer expectations (Huang and Sarigöllü, 2014). The products and merchandise of the H&M brand need to be available in all the places where the targeted customers can easily find the merchandise. The merchandise of the company is a good representation of good value for money; the customers get the desired product with effective pricing. H&M brand uses advertising, online promotion, personal selling, and social media as a strong communication channel for effective branding to be informative to the customers and to appeal perfectly to them. The company is reliant on the people working in the organization because the perfect people can cater to the business essentials. The processes of the organization involve the delivery of service in time for what the customer is paying for. H&M company believes in delivering the customer tangible products that have physical evidence to gain customer reliability.

P 3 Comparison of the ways in which H&M and Zara apply the marketing mix to the marketing planning process to achieve business objectives: 

Marketing mix has a predominated association with every marketing plan, to chalk out all the plans very effectively (Khan, 2014). Zara and H&M working in the same segment of the market are very much concentrated with the marketing mix. In H&M, it uses the marketing mix to create brand value by delivering high fashion to the customer. Each and every fashion trend comes in the market H&M tries to cater to the same trend the customer so the customer can follow the high fashion sense and can initially get the look of the high fashion. When considering Zara in this matter, the brand believes in fast fashion, and in the Zara store the fashion that enters the shop stays only for 15 days and after that, the total stock of the merchandise changed. In the pricing system, H&M sells the merchandise at a lower price to catch the attention of the customers and in Zara, the prices of the merchandise are higher for the people who only follow fashion without price sensitivity. H&M provides a justified look-book and the company has a mission to cater to everyone their own fashion style from the collection of the merchandise. In products, H&M has more product range and segmentation than Zara because H&M believes in the ‘everyday low price product' strategy with the offering of sportswear, lingerie, cosmetics, and home department. H&M has a strategy to open the stores in the well-known and popular shopping streets but Zara does not have any of these kinds of specifications. Zara does not have any online selling criteria; Zara has a website just to inform customers about upcoming merchandise. On the other hand, H&M sells products through the online channel and they have the convenience to browse any products, interact with seller support, and take any kind of selling support from the associates. H&M Company spends a lot of time with the strategic consideration of the promotion. Through outdoor promotion, advertising, press, blogging, print media, and direct media H&M concentrates more on promotional activity to catch the market and the customer as well.

M 3 Evaluation of the different tactics as a marketing assistant applied by H&M and Zara to achieve business objectives:

As a marketing assistant, the tactics applied by H&M and Zara have a wide difference to achieve the business objectives. The multiple approaches to marketing create the base for an ample number of customers (Flint, 2016). H&M focuses on the close-range marketing style to get to know the customers with close proximity but here Zara follows the direct marketing style though Zara does not believe in core marketing. Zara has a base for transactional marketing that is constantly selling products in high volume to customers in order to be in the demands of the investors and other retailers but H&M differs in this aspect. H&M concentrates on scarcity marketing so as to use the merchandise in an optimal way. They specify how much product is available at one time and that can fulfill the demand of how many customers, merchandise allocation is very important for the brand.

Task 3-LO3 

P4 Evaluation of a basic marketing plan for H&M:

For the H&M brand marketing is the most effective component to stay in the market, serve the customer, and reach out to their desirability level. The company focuses on the employees along with the customers. The merchandise of the company has quality with the warranty and usage of organic cotton makes it comfortable. It has a product line that differentiates all products and shows variety. The pricing strategy of the H&M brand is reasonable with the discounts and payment terms along with the financing options it undeniably catches the attention of the customer. The distribution channel of this company such as direct, retail, suppliers, distributors, and intermediates pathways creates a motivating channel for the distribution margin with the evaluation of distributors (M4). The logistic system is another success factor for the H&M Company, this includes warehousing, transportation, and order fulfillment.

D 2 Design a strategic marketing plan with the use of 7Ps to achieve overall marketing objectives for H&M:

With the operational and managerial processing strategic plans create and implement the business value in the market (Koku, 2014). H&M Company's vision is to run operations in a way that will be economically, socially, and environmentally sustainable, keep that in mind the business model with perfect acquisitions, licenses, and partnerships the company grows in the international market. The company measures the barriers it has in the market and after judging the competitors, it invents alternative strategies to act in the long run. With market segmentations and identification of the target market, H&M will get all the customer confirmation related to the merchandise. The company also judges the competitive environment by identifying the primary and secondary competitors by SWOT analysis. H&M sells high fashion merchandise so they prioritize the customers with a pricing strategy delivering sustainable fashion. The sales force channel has followed the timeframe and milestones along with the sales matrices and incentives to drive the growth of the company.

Conclusion: 

H&M Company follows the organizational structure to maintain the culture, ethics, and absolute management style. The company is expanding its product range with an upscale version of its current stores. One of the most striking points about the H&M Company expansion is entirely self-financed with an increase of sales by 72% and earnings per share by 183%. The company is progressing with new marketing approaches to cater the customer's best merchandise that will be fashionable, and high quality by using affordable prices and an effective distribution system.

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Reference list:

• Balmer, J.M.T., (2013). Organisational Marketing. Its nature and strategic significance. Contemporary Perspectives on Corporate Marketing. Contemplating corporate branding, marketing and communications in the twenty-first century, Routledge: New York, pp.1-20.
• Ehret, M., Kashyap, V. and Wirtz, J., (2013). Business models: Impact on business markets and opportunities for marketing research. Industrial Marketing Management, 42(5), pp.649-655.
• Flint, D.J., Signori, P. and Golicic, S.L.,( 2016). Contemporary Branding Tactics. In Contemporary Wine Marketing and Supply Chain Management (pp. 151-165). Palgrave Macmillan US.
• Gbadamosi, A., Bathgate, I. and Nwankwo, S. eds., (2013). Principles of Marketing: A Value-Based Approach. Palgrave Macmillan.

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