Marketing Principles Strategies Tasks - Free Essay Example

Sample details Pages: 9 Words: 2648 Downloads: 2 Date added: 2017/06/26 Category Marketing Essay Type Narrative essay Level High school Did you like this example? Contents Introduction Task 1 Task 2 Task 3 Task 4 Task 5 Introduction In this report we will be looking at a large organisation that we believe has used good principles of marketing to grow and business has become successful. Marketing is about identifying and understanding customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ needs and wants and we will be looking at their promoting and selling of products. This report will also explain how the organisation has used the marketing principles to grow to grow and succeed. We will also be looking at benefits of marketing orientation for HM retail store. Don’t waste time! Our writers will create an original "Marketing Principles Strategies Tasks" essay for you Create order Task 1 The definition of marketing is a method of communication that demonstrates the value of a product and service to a customer, the purpose of marketing to selling the product or service. Marketing is line that link between the buyer and the seller. Marketing activities and strategies outcome are making products available that content customers while making profits for the companies that offer the products. Marketing is more about understanding customers need and offer them what he need in a different way. HM Hennas Mauritz is a Swedish retail clothing company. It is fast fashion clothing for all type of gander, women, men, teenager and children. HM has 2,500 brands in 43 counties. HM is a customerà ¢Ã¢â€š ¬Ã¢â€ž ¢s determined company, that Understand and try to meet their customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ needs, is at the core of everything they do. HM produce everything with a value for people and the environment. HM give a high-quality value to their products and the most important is reinforcement customers offering. HM offers and understand all the customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ need. HM offers fashion, quality clothe and even at good prices. The consequence for their store, this includes products being produced, transported and sold with care to people and the environment. HM makes more sustainable choices available to all customers around the world. HM promises are to provide fashion for aware customers. HM pay attention to their customers and offer them the products and collections they want with the designs and quality materials. HM always keep ahead of competition, to inspire and surprise customers and strengthen customers offering. As well as adding sustainability value to their products in which enables them to achieve. HM inform their customers about what they do to make fashion more sustainable in a clear and comprehensible way this is one of the main reasons, in which that make HM stay ahead in the competition. Communication well with custome r is one of the main key features of business. HM staff makes sure their customer are appreciated and enjoyed their shopping experience. HM offers for their customers all the easy ways for shopping. HM keep updating the latest fashion, whether clothes, bags, shoes or jewelleries. HM walks with the seasons as well, HM always offer sale which attracts the customers. They also do superior offers, were customers are able to buy one and get another half price or buy one get one for free. They have a policy were customers have about 30 days of refunds or exchanges, if there are not happy with their purchases. HM communicate effectively with customer through advertisements on websites, streets boards, magazines and company catalogue. HM develop by providing smart phone Apps, shopping online, media, they also offer card payments in store. Task 2 The benefited of Marketing oriented strategy are when HM forcing on customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ needs and wants. HM well known as Success Company where they know and understand what their customers want within every target market. HM produce and keep their product as cheaply as possible or in a low prices, so that they attract all kind of customers because customers will buy anything as much they can as long as ità ¢Ã¢â€š ¬Ã¢â€ž ¢s cheap. HM offers all the type of cloth and other items, HM make sure that they seal everything for large amount of costumer that they may buy and need and even make sure the is the right product to the right target market. HM do not only seal in cheap prince, they also seal quality, style and fit to the fashion and thatà ¢Ã¢â€š ¬Ã¢â€ž ¢s what attracts people most. Other way that HM attract the customers is that they have strong designer team and they proudest it fast. Market orientation helps HM to think how to develop the organisation in the future and be better than their competitors it also helps the business from failing. The advantages of Market orientation it has strong position to meet the challenge of new competition, market orientation react more quickly to changes in the market because of market information, however that may cost a lot of money. HM market orientation is that they are able to respond quickly to changes in the market because of their use of information. Task 3 HM looks deeply in clothing especially in female clothing. HM broke down the market into small section in which customers share common characteristic. HM focus on all characteristics, such as age, gender and family life style. They have got all the different age sections, people between ages the 16-50 inside the different ages, HM look in to their different life styles as well. The different lifestyles are student who is enjoying their time socialising, mums, working class which need to be dressed professional and teenagers. Beside the psychographic characteristics HM divide the benefits of each group, such as the income type, low prices for each psychographic characteristic. Student who is enjoining their time differently than the classic worker have different way that HM look into. Student age 16-25 with different income who love to be always on the top of fashion trends. Psychographic characteristic is important, where the customers have different life style, such as sporties t, enjoy parties, simple student and that makes HM provide all the type of different psychographic character HM keep updating the fashion for clothe and the other product, the benefited is to keep the student in teach with the latest fashion. The Benefited are more to the fashion, quality and the low prices. Classic women who want to looked professionals and fashionable too, HM also look differently into that segment, where the classic works has higher income than the students. The product for this segment has high price and more quality, as HM knows that kind of segment will be pay more no matter the price is. The demographic characteristics are the age 35-45 and the status, such as single, marriage and Mums. HM provide to those different characterises, different style of fashion, quality and even price. For example, single women would be more into fashion and make shopping than the marriage or the mums therefore the prices and even the style would be different than another. Mum s are always simple and most of them may not look into fashion, therefore HM has a special section with different choices of style that is suitable for them at good prices. HM also look at different cultures and religious for those segmentations, where they have all the styles that suite everyone. That depends on the location sometimes and the lifestyle at that area. HM has few competitive, such as Gap, Zara and Old Navy. However, the main worldwide competitor to HM is Zara, and the mainly reason is that their clothing style are similar. In comparison to Zara, HM offers is affordable to whose that do not work, unlike Zara it sells designer clothes mostly aimed to people that receive higher income. Comparing to other like Primark and Zara, HM has good quality cloths and suitable prices, where Primark has low prices but much less quality. The main reason why HM is ahead their competition is because of their following with celebrities. Task 4 The target customers of HM belong to the group of fashionable and trendy consumers who see shopping as a social activity providing pleasure in their daily life HM produce cheap products of responsible quality, and motivated by the latest fashion. HM offers all they the type clothing for men, children, babies and women. Beside the clothe HM also sale footwear and home decor. HM main target marker are women, who are the most look into the fashion what women wear and need, such as bags, all kind of cloths, jewellery, scarf, shoes, makeup and body care. HM offers different size, style and different colourers, all style jewellery and bags. According to the brand, HM use most of their product in their own brand, such as cloths scarf and jewellery. Some of the product has different brand such as the makeup and the body care, HM has the same product but in their own brands. However the different is the prices and even the quality. HM brand are sometimes low-priced then the other brand t hey seal in the store. For example, the nail polish has different prices; the HM brands are much cheaper than the other brands. Most of the women are not into brands, they enjoy most the style and the colours and if it on the fashion and have good quality, therefore HM do not care much on other famous brands. HM are known as a quality product and low prices. However, HM prices divided to a few sections, where the clothes are more fashionable and more quality that would be in best prices. That means HM set a high price for a product to highlight the product as high quality. HM prices are normally cheaper; some of the items are less than  £8, HM set price which is perceived as low like  £99.99 or  £5.49. Some items sales in HM found in other shops as well, HM sett normally the price similar or less to their competitive. As much as women with high income do not care about the price, where they pay what they like without worrying about the price. However, they lo ve their eyes to catch psychological pricing and premium pricing. HM always set the right product to the right price. As HM are well knows market, HM is always be placed in busy area, such as popular malls and big cities. HM also has an online shopping place which is easy for customers who are not be able to visit the store. For example, busy women who do not have time to make shopping and women who has physical problem, would rather shop online and even save time. HM magazine is the main key to get their clothing out of the market, where most of the women enjoy looking through specials high classic women who are into the fashion. HM are also show out their clothing and the latest on the social network, like Facebook, Twitter and Instagarm. The main target audience for this type of promoting are 18-25. HM do Sale promotion to attract their main targets which are all type of women, Sale promotion are buy one get one free, 50% discount, vouchers and even they give gift card in s pecialise days such as charismas. Task 5 A successful business need to plan well and make marketing dictions to avoid business from failing. There are few changes be made or happens every time and that affect every business; those changes are political, economic, socio-cultural and technological. Political are more about what the government changes may influence the economy. The government may inflict a new tax or duty due to which entire income generate structures of organizations might change. Economic are about performance that directly impacts a company and have resonating long term effects. Economic factors include increase rate, interest rates, overseas exchange rates, economic growth patterns and so on. The socio- cultural changes are more about demographics characristic, lifestyle changes, income changes and level of education. The technological do not have so much affect at the businesses rather than cost a lot of money. However, innovations in technology that may affect the operations of the industry and the mar ket positively or critically The main changes can affect HM is customers live, where that is depending on customerà ¢Ã¢â€š ¬Ã¢â€ž ¢s income. If a regular customer who used to shop from HM, and their income became less than normal, they will prevent shopping as usual and HM will lose customer. Demographic characteristic affect the business as well, where the age changes, for example when age 40 turn to 50 that segment will find out that HM do not have the right style that fit eldly pepole. Lifestyle changes have a big role that also affects the business, for example where a customer changes the style or the fashion they used to fallow. Social mobility can cause business changing; a person can become very busy that will not be able to shop. Any changing with the government it is possible of changing industry regulations, interest rates and tax laws. That can affect the company where they need to set up the prices to be able to make more profit, even if the legislations became h igh such as wages and bills and that cost. Economic are other main changing that affect the business. HM use high-quality material, so if the material inflated that will affect the business as well, which makes HM to increase customerà ¢Ã¢â€š ¬Ã¢â€ž ¢s prices. Inflation has other affect that can cause on any business, such as unemployment, low income, inflation level and resource availability. Interest rates may affect the businessà ¢Ã¢â€š ¬Ã¢â€ž ¢s cost of capital and even exchange rates may affect the price of imported goods. As the technology developing fast and becoming part of our life. A new discovery and innovations develop the business, such as the factory, new machines and so on. However, that will cost a lot on the business. Technology is very important to HM that make them to communicate with their customers. Internets are one of the communication methods that transfer information to nearly everyone and everywhere. Advertising is part of technology where HM advert ise their product throw TV, websites, and magazine. As the technology improves all the advertising methods will be become more expensive, that will affect the business where they will spend a lot of money to promote their product. All this business changes that affect the businesses, most have one that they can control it and achieve what they aim for. HM mange to control over the socio-cultural, where they try to meet all the customers need. HM mange how to control the prices for the product, they try not to be very expensive and all income type of customer that be able to buy. So that the customers do not get bored of the fashion they try to update the cloth and the fashion as soon as they can. Bibliography James, E. (2013) Jamez biz , [Online], Available: https://www.jamezbiz.com/2012/07/case-study-on-h.html [24 December 2013]. Pandey, A. (2011) BPMGEEK, 26 September, [Online], Available: https://bpmgeek.com/blog/what-pestle-analysis [26 December 2013]. Radman, A. (2012) Hennes Mauriz, 1 May, [Online], Available: https://hennesmauritz.blogspot.co.uk/2012/05/chap8-segmenting-and-targeting-markets.html#!/2012/05/chap8-segmenting-and-targeting-markets.html [22 December 2013]. Zubair, F. (2012) studymode, april, [Online], Available: https://www.studymode.com/essays/Hnm-Case-Study-956200.html [22 December 2013]. Marketing Principles StrategiesPage 1