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Task 1

The concept of Marketing

The fashion industry of the UK count on upon the consumer dependability and client loyalty. Discussing the H&M which is a popular fashion retailer of the UK which includes marketing concept along with few components, for example, wishes of clients, the rate of products and current market opportunity. Every single portion of the marketing concept has its separate essentialness. Other than that, requirements of the clients are the conspicuous part in the marketing concept. As demonstrated by Paul (1996), to meet the desire of clients, the management of H&M needs to give a refreshed form and low priced fashion clothes to their clients. Along with this side, with the assistance of this marketing strategy, the management of H&M can expand the rate of their potential clients by providing good clothes and accessories in low price. Along with that, the cost of fabric is one of the delicate issues from the side of the client's end. At the end of the day, the vast majority of the clients require the latest fashion at the least rate. Consequently, the management of H&M needs to think about current rival companies like ZARA (Ellis, 2002).

Strategy: in order to increase sales revenue, H&M needs to implement effective marketing strategies such as low price strategy, discount strategy and promotional strategy.   

Market research: in order to determine current market opportunity, the market research technique is mainly used. Market research includes interviews, questionnaire and respondents who provide response as information.

Product Development: product development process is measured by information which is collected from primary and secondary data collection research methods.  

Communications: the feedback of the customers help the management to improve product development process which is based effective communication system.

Sales Support: with the help of sales report, the management can determine current trending and demanding products and services. 

Events: events can be considered as promotional activities as marketing process which increase product demand.

Key roles and responsibilities of the marketing function 

The H&M needs to observe the marketing process to increase the revenue. Along with that, the form industry integrates diverse kinds of the marketing function. Different types of marketing function are a strategy, market research, product development, communications, sales support and events. Every single part of the marketing has its personal significance. Other than that, H&M has different stores around the UK, and every single outlet contains most modern fabrics and design articulation fabricated by H&M. Aside from that, in the process of conveyance, a transportation framework required by the management of H&M. At the end of the day, through a vehicle different kinds of clothes and accessories have been conveyed to various outlets of the H&M. The last process is client's review accumulation or market research. In this process, the management of H&M can dissect and decide the assembling shortcomings which done amid the cloth manufacture process (Griffiths, 2006).

External environment influences: external environment includes following factors:

Political factor: this factor is influenced by governmental rules and legislations.

Economic factor: this factor effects the financial stability of H&M through unstable exchange rate, currency value and GDP.  

Social factor: this factor is mainly influenced by socio-cultural aspects of the local population.

Technological factor: with the help of this factor, H&M can adopt technical support to expand the business.

Marketing mix:

H&M can observe and identify the current market opportunities with the help of effective marketing mix. The marketing mix is one of the essential elements which includes price, place, promotion, and product.  Different factors of the marketing mix are discussed below:

Price: Price estimation is one of the critical issues for an organization before launching a product in the market. There are giant fashion companies like ZARA already exists in the UK fashion industry. The mission and vision of H&M conclude that they are offering latest fashionable clothes and accessories in affordable price to their customers. The rival companies of H&M offer highly expensive products to their customers. So, there is a huge opportunity to attract those customers towards their company through low price strategy (McKeever, 2011).  

Promotion: In this case, H&M applies various types of promotional theories to provide product related information to the customers. Through online promotion, H&M can attract and aware most of the customers who wants stylish and latest clothes within a reasonable price(Price and Jaffe, 2015). An organization need promotional activity to spread the awareness about a specific product or service. There are different types of media such that television, radio, newspaper, magazine and internet, basically utilised by many companies for promotional activities.

Place: The decoration of showroom also helps the organisation to attract the mind of a customer. As a result, the place is the very crucial factor of the marketing mix. In order to expand the business, H&M needs to determine and select appropriate place. In other words, the outlets of H&M should be placed in a crowded area such as shopping mall, market, etc.

Product: According to the case study, H&M is one of the best fashion retailers in the UK and the product of this organization are men's wear, women's wear, children's wear, cosmetics and accessories. The quality of the product provided by the H&M can give the tough competition to the rival companies when the price is concerned(Price and Jaffe, 2015). Each and every product are available at the outlet of H&M in the European market.

Functions for B2C and B2B: some companies conduct B2B as business to business which means that, one company sales products to another company. Besides that, H&M belongs to B2C business which stands for business to customers. Moreover, H&M sales products directly to the customers.  

Importance of role and responsibilities of the marketing function  

Different categories of parts and duties of the marketing functions have been used for the different causes. On the other hand, the marketing division is working under the perception of the marketing manager. Along with that, the marketing manager places and arranges distinctive marketing movements, for example, determination of the potential clients, creating marketing efforts and concentrating on the exercises of various groups. Besides that, the marketing manager additionally creates a strategy for success with a specific end goal to execute different marketing procedures (Hill-Smith, 2010). This also helps to build the benefit of the organisation. Aside from that, some notable fragments of the marketing managers are that analyzing immediate market openings, implement the strategy, distinguish the market destinations, regulate the movements of colleagues and set up an activity anticipate future decorations.

Internal Environment include:

The internal business environment of H&M includes employees, managers, production process and management structure.  

Macro environment

In order to expand the business, H&M needs to pay more attention to the macro environment factors such as political, economic, social and technological for smooth marketing. Segments of marketing functions like strategy, market research, product development, communications, sales support and events are interrelated with macro factors (Lin, 2013).

 Political factor: this factor is influenced by governmental rules and legislations.

Economic factor: this factor effects the financial stability of H&M through unstable exchange rate, currency value and GDP.  

Social factor: this factor is mainly influenced by socio-cultural aspects of the local population.

Technological factor: with the help of this factor, H&M can adopt technical support to expand the business.

Micro Environment:

The micro environment of H&M includes Customers, Suppliers, and Stakeholders. 

The interrelation of the marketing with other functional departments of H&M

As initially specified, the marketing manager of H&M finishes up a legal strategy for success which incorporates different systems and procedures to build the benefit of the organisation. Along with that, the CEO of the H&M needs to affirm the business proposition of the marketing manager for up and coming phases of strategy usage. Although, the creation division needs to distinguish changes which incorporate the strategy for success planned by the marketing manager (Moeller, Landry and Kinni, 2009). Apart from this, HR division is Along with this side impacted by the strategy for the success of the marketing manager because the HR manager has to know the adjustment related data for the determination process. Thus, HR manager of H&M can select a more effective employee for customer satisfaction. Along with that, client benefit approaches additionally improved by the strategy for the success of the marketing manager of the H&M. Additionally, the relationship between the marketing & other functional departments incorporates different kinds of significant value and significance, for example, dismembering client's aspiration, assembly sufficient data acknowledged with new materials and evaluating the cost for new and up and coming fabrics (Norris, 2010).  

Significance of effective interrelationship between different functional departments of H&M 

H&M includes dissimilar useful separations, for example, human resource department, production department, conveyance department and service centre. Apart from that, every last division of H&M is interrelated with each other and creates an effect the organisational execution and profitability. H&M is a well-settled fashion retaliator of the UK. Along with that, numerous critical reviews clarified the importance of the development which happens in the fashion industry most new couple of years. In addition, with the assistance of cooperative, coordinated effort, the management of H&M can concentrate on the present market pattern to perceive the prerequisites of the clients. In this advancement, the greater part of the clients needs full touch screen android or windows based materials in low costs. Moreover, in the wake of recognising the necessities of the clients, H&M can impact every department to convey strong customer service to their clients. In this way, the management of H&M perceives the request of their potential clients and existing inventive fabric handsets with the assistance of statistical surveying (Webb and Dickinson, 2012).

Task 2

7Ps of marketing mix 

The marketing mix contains seven essential segments which considered as basic parts to comprehend the present market circumstance. Seven kinds of factors of the 7-Ps marketing mix will be explained. Besides that, H&M is one of the settled a cloth and embellishments fabricating retailer in the UK, which is focusing on the present marketing example to draw the consideration of more clients to the organisation. Other than that, the utilisation of 7P's can redesign the arranging and execution of different sorts of the marketing strategy of the management. Along with that, the H&M is the UK's form retailer which gives quality products and service to the clients (Richter, 2002). In this paper, the hugeness and effect of 7Ps of the marketing mix on H&M will be assessed, and the results of the process in the organisation are furthermore classified.

Product 

There are two classes of item perspectives are analysed in many reviews, for instance, unmistakable and indefinable. Though, the impalpable products incorporate the non-clear belongings or regular sorts of the plan. Along with that, the solid products are considered as physical which is made in the organisation. In other words, it is moulded by a specific industry which makes any unmistakable item. On the other hand, according to the point of view of the management of the H&M, it has been conveyed latest fashion as garments can draw the consideration of many customers's. Along with this side, most of the multipurpose models which indicated in above is accessible in the stores of H&M. On the opposite part, ZARA is an adversary organisation of H&M with restricted stroke.

Price

So as to finish up the price of the item is one of the crucial decisions which are finished by the organisation. In any case, the need of the customer is playing a basic to evaluate the price of the item estimated by the H&M(Coughlan, 2006).  On the other hand, the price variable is one of the fundamental components of the marketing mix which accept an amazing part in the fashion business. In addition, these elements help to settle an official price of the fashion garments. In this way, the management needs to audit the feedback and price desire before presenting the price of the item. Talking about the material price of the H&M which engaging and less costly than ZARA which is a famous fashion retailer organization in the UK.

Promotion 

With a specific end goal to extend the popularity and awareness of the fashion clothes, the promotion is one of the imperative mechanisms which is used by the H&M. Apart from that, it can be advised that the promotional program of H&M is a kind straightforward and fruitful strategy which can draw the impression of client's sole (Bye, 2010). However, with the assistance of promotional movement, the management of the H&M can spread awareness among existing and potential clients about the alterations and redesigns in the scope of fashion clothes. In addition, the promotional workouts can improve and aware about a particular product in the customer's quintessence. Along with that, the promotion is the fundamental segment which is utilised by the regular organisation. Other than that, the management can spread product information through different sorts of media, for instance, web, TV, radio, daily paper (Bye, 2010).

Place

The place is a tremendous variable of the 7Ps marketing mix, and it strikingly makes an effect on the present marketing condition to check current place is appropriate for the organisation or not. Along with that, it is inspected that the UK contains loads of people who visit design stores constantly. However, the place of marketing must be legitimate for the expansion of the organization(Cavusgil, Knight and Riesenberger, 2012) In other sense, H&M is presently settled as a prominent form industry. Other than that, there is a huge request about the popularity of this organization. In addition, the aggressive market is monstrous in light of the fact that there are various surely understood a design retailer exist in the UK, for example, ZARA et cetera. In this manner, to shape the rate of clients and profitability of the organization, they have to make popular and prevalent cloths.

People

The guideline of the organization is the control and introduction of representatives, and all business depends on upon the general population or partners. Besides that, Customer steadfastness is the most basic important to the achievement of the organization. In a manner of speaking, in the fashion industry, the nature of appearance is a direct segment which can regard any clients. Along with that, the feedback or input of clients can redesign and upgrade the interpersonal aptitudes of organization's workers which provoke to the achievement. In other sense, with the help of positive contributions to clients, the management of H&M can spur and gives major preparing to workers to improve delegate execution(Cavusgil, Knight and Riesenberger, 2012).

Process

The processing structure is the impression of the marketing preparation of any affiliation that incorporates the mission, vision and alluring objectives. In the area of form fashion retailer, the essential process is that, generation process and customer benefit process. Two processes are also huge according to the management of H&M.

Physical evidence

The physical affirmation is a suitable segment. Nonetheless, it is to a great degree difficult to fathom in the real telephone industry in light of the fact that there are no unmistakable products offered to the clients. Furthermore, H&M offers various workplaces to express the physical evidence. Therefore, there are such a large number of clients are fulfilled by the management nature of the client mind officials of H&M. Aside from that, ZARA does not have enough direction and focuses in the UK, and the client mind officers are not very much carried on.

Summary

In the latest couple of years, the colossal process has been completed remembering the true objective to enhance benefit in the fabric industry. There are a couple of sorts of operational activities perceived in the material telephone organization industry, for instance, handle a troublesome circumstance, clients examination, debate clarification and resolve, customer support, et cetera. Furthermore, this assessment impacts the techniques of the marketing mix in H&M. Besides that, in the design retailer, many opponent organizations, for example, ZARA et cetera has actualized one of a kind systems to pull in clients. In other sense, the specialists of the design retailer industry need to focus on the administration quality as like overhauled working frameworks, signals and in manufacture basic applications which they provide for the present clients at sensible prices(Drucker and Maciariello, 2008). Apart from that, the genuine objective of this a form retailer is shopper steadfastness which enhances the opportunity to construct the rate of the potential clients. On the other hand, the management of the H&M needs to focus on the buyer dependability to the extent price, governance and stable relationship with the clients on a whole deal introduce instead of ZARA.

Task 3

Produce and evaluate a basic marketing plan for H&M

Company overview

The fashion industry of the UK count on upon the consumer dependability and client loyalty. Discussing the H&M which is a popular fashion retailer of the UK which includes marketing concept along with few components, for example, wishes of clients, the rate of products and current market opportunity. Every single portion of the marketing concept has its separate essentialness. Other than that, requirements of the clients are the conspicuous part in the marketing concept. As demonstrated by Paul (1996), to meet the desire of clients, the management of H&M needs to give a refreshed form and low priced fashion clothes to their clients.

Market analysis

This marketing analysis of the business really says in regards to the circumstance of the business in the market. It additionally gives the data about the market and the requests of the clients. It is vital for each business to achieve the client keeping in mind the end goal to know their criteria and request from the business' perspective. In addition, the developments of the rivals in the business sectors are the fundamental matter of worries for the organization. H&M has taken every one of the methodologies to know the developments and arrangements of the adversary organizations. It will help the business to achieve the coveted objective in a successful way.

Internal analysis 

Internal analysis of the organization incorporates the analysis of H&M's strengths and weaknesses. These components of H&M help the organization to think about the potential ability of the organization. Inward analysis of the organization additionally gives the data about the workers of the organization in the association. The arranging and the assets of H&M can be known through interior analysis.

External analysis 

External analysis of H&M tells about the opportunities and the threats of the organization. In this situation the organization comes to think about the field where the organization has opportunities to spread the business. Threats are thought to be the contenders of the organization those are prepared to catch the market if the performance of the organization separates. Here for this situation H&M has to know each and every perspective in the market keeping in mind the end goal to extend the business.

SWOT analysis 

SWOT analysis is quite recently the blend of the inside and the outside analysis of an organization. In this situation the strengths, weaknesses, opportunities and threats are depicted through various elaboration.

Strengths

The quality of the organization can be its structure. The workers of the organization and the administration division of the organization can make the organization solid by their performances. The targets and the objectives of the organization can be come to easily if the performance of the association is great.

Weaknesses

The weaknesses of the organization can be distinctive. There are many spots where the organization may have their weaknesses. They may have the weaknesses in the authoritative structure. They may have wasteful representatives and the correspondence framework in the authoritative condition can be the weaknesses for the organization.

Opportunities

The opportunities in the market for the organization can be considered as the bit of the market where the organization can be extended. The development should be possible relying upon the state of the market. They may think to begin new visits in those areas where they haven't made a solitary visit up till now.

Threats

The threats of the organization can be measured concerning the adversary organizations in the market. H&M has been serving the best administration for a long time.

Objectives 

The primary points of the destinations must offer degrees to the business, so that the business may persuade an opportunity to be extended. H&M likewise has a few targets relying upon which the representatives of the organization work. The goals are as per the following,

To provide cheap products to improve the sales.

To focus on the requirements of customers.

Strategy 

The strategy of H&M is specifically identified with the destinations on the grounds that H&M chiefly assemble their procedures relying upon their goals as it were. For this situation, H&M additionally has set their procedures relying upon the destinations of the organization. One might say that the techniques of H&M may take numerous practises so as to achieve the authoritative objectives. The techniques are as per the following, Moreover, H&M should focus on low price strategy to meet goals and objectives.

Segmentation, targeting and positioning

Segmentation, targeting and positioning are a standard well-known vital approach in the cutting edge showcase. One might say that these three certainties in the marketing field are exceptionally viable to the extent the situation of the market is concerned. Remembering the clients these components can be actualized as the procedures of the organization.

Segmentation

Demographic: The age, sexual orientation, instruction and money related condition are the primary variables relying upon which the sightseers will be concerned. In this phase of marketing H&M will arrange its procedures in light of these components.

Psychographic: The mental actuality of the clients or the vacationers is the fundamental matters of concerns. The decisions of the goal or the convenience can be distinctive relying upon the needs and criteria of the clients.

Geographic: The geological areas of the vacationers must be taken under the matters of concern. H&M must set their procedures relying upon the region where the vacationers live. It is so in light of the fact that the decision or the way of life of the voyagers may shift as indicated by the geographic area of the vacationers.

Targeting

It can be named the distinctive parts of the clients. It implies that the focusing on is fundamentally done relying upon the states of the clients as it were. Advertise focusing on can be grouped along these lines,

Finance: The cash that has been the benefit must be more than the cost of the organization. Particularly the benefit cash must be more than the expenses of extra marketing arranges and different changes.

Accessibility: The diverse fragment of the market must be available keeping in mind the end goal to keep up the authoritative structure idealize.

Concentrate on advantages: Every single fragment must get its own particular advantages.

Positioning 

In this situation the results of the organization must be set in the best possible place for the correct clients. One might say that Tesco Mobile must set their bundles and the accommodation benefit as indicated by the necessities of the client and in legitimate spots. The place and position of the item may have any kind of effect in the results of the organization.

Tactics & Action

In order to implement proper marketing strategies, H&M should focus on strategy implementation process. Moreover, they needs to observe the market situation for further strategy.

Conclusion 

H&M should focus on the Internal analysis, External analysis, SWOT analysis, Objectives, Strategy Segmentation, targeting and positioning in order to develop their business structure.

References

  • Bye, E. (2010). Fashion design. 1st ed. Oxford: Berg.
  • Cavusgil, S., Knight, G. and Riesenberger, J. (2012). International business. 1st ed. Upper Saddle River, N.J.: Prentice Hall/Pearson.
  • Coughlan, A. (2006). Marketing channels. 1st ed. Upper Saddle River, N.J.: Pearson/Prentice Hall.
  • Drucker, P. and Maciariello, J. (2008). Management. 1st ed. New York, NY: Collins.
  • Ellis, R. (2002). Communication skills. 1st ed. Bristol, UK: Intellect.
  • Griffiths, A. (2006). 101 Ways to Advertise Your Business. 1st ed. Sydney: Allen & Unwin.
  • Hill-Smith, A. (2010). Consumer credit. 1st ed.
  • Lin, L. (2013). Promotion. 1st ed. Shanghai: Chois.
  • McKeever, M. (2011). How to write a business plan. 1st ed.
  • Moeller, L., Landry, E. and Kinni, T. (2009). The four pillars of profit-driven marketing. 1st ed. New York: McGraw-Hill.

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