Marketing Plan For H & M 's Business Strategy

All the activities and strategies involved in getting the desired clothing and fashion industry marketing messages to the intended target markets are possible through communications. The global clothing industry has been handling a tough consumer market following the presence of established and competitive fashion rivalry (Smith and Taylor 2004, p. 7). Harvey Nichols has tried to cope with the changing consumer tides through introducing efficient marketing strategies to draw the attention of its consumers.

| Test marketing allows the sports organization to determine consumer response to the product, and also provides information that may direct the entire marketing process.Answer

In this piece of marketing course work I am going to explain how to produce a marketing strategy for a new or existing product. I will explain how my strategy is based on the principles of marketing. I aim to use primary and secondary resources to help me to analyse the marketing context. I will then explain how to develop a product that meets my target customer’s needs.

Market growth of H&M has always been an important issue for the company with a relentless emphasis on the long term view to its expansion strategy. The organisation regularly examines strategic direction

Introduction stage refers to a period at which new products are first introduced into market (Ibid). In this phase, the growth of sales tends to be slow because much time and money need to be invested to attract the resellers, to inform customers of new products, and to encourage the trial (Ibid). In other words, customer demand for new products should be aroused in the introduction stage. As Bhasin (2011) points out, marketers should induce customers to accept new products, thus inspiriting their desires for these products. As a result, the marketing target in introduction stage appears to maximize new products awareness and to stimulate customers to try out new products.

Reaching public and targeting customers is something that is acquired through marketing. Clothing and latest trends would never ever be in customers approach without the aid of fashion marketers. This is where fashion marketers are required. Their job is to transport the fashion and latest trends to the target customers. It chains the essentials of advertising, design and business administration, as well as an appreciative of the fashion world, in order to take the consideration it desires to be effective ( Bohdanowicz & Clamp, 1994). These are the people who have a keen and deep sense of upcoming traditions and they rule the market. They are the trend setters. They have know-how of current as well as future fashion trends. They are the futurists of the arena who not only identify what will be efficacious and which customer crowd will be the greatest concerned, but know how to market the clothes to these target customers. Most of the experts of this field work behind the scenes.

H&M cruelly underlined the continuity of its expansion strategy in long-term perspective (Regnér and Yildiz, 2014), which means continuing to open stores ultimately (Barman and Petersson, 2002). It is planned that H&M will establish another 300 new stores, especially China, the United States and the United Kingdom as the largest growing market. Despite the countries mentioned before, South America, Latvia, Indonesia, Bulgaria and Thailand will be involved (Regnér and Yildiz, 2014).

Developing strategies in relation to any application of marketing suggest a marketer’s ability to comprehend and align business practices with the need of the consumer and business simultaneously. Strategies present challenges whether domestic or international markets are the emphasis. The ability to set customary prices, have market presence, encouraging advertisements and publicity, understand the competition, develop accurate communication, a complete SWOT analysis including domestic and international markets, and customizing the target market, present boundless opportunity that consumers appreciate and market recognition. At each stage of

H and M is one of the premier retailer franchises within the United States. To begin, H and M Inc. is one of the nation's largest and well known department store chains. Started over 150 years ago, H and M has continually generated excellent returns for its shareholders and employees. Currently, in the midst of a global recession, H and M has generated huge profits with same store sales increasing 3.3% year to date. In 2012 same store sales increased 11% in the month of April alone. In fact, throughout the duration of 2012, H and M is projecting even larger profits for its underlying business operations. With 2500 stores in 44 different markets, H and M continues to prosper. Even though H and M has experienced success with both its assortments and brand, its competitors haven't faired so well. Sears, due in part to part to a lackluster holiday season, has been forced to close nearly 120 locations to generate excess liquidity in an effort to shore up its balance sheet (Isadora, 2011).Other competitors who cater specifically to the middle class consumer have also lost significant amounts of market share as consumers trade down due to the economy. H and M, with its ride array of assortments and products continues to grow as it attempts to capture market share from failing competitors. The mission statement of H and M has helped it stay focused in the midst

With only a few retailing stores (only two in Canada), the company has the opportunity to expand within Iran and Canada relying on its current success. Market characteristics are already known and the reputation of the company is already established. In addition, the absence of significant competitors prevents the risk of price wars (Johnson et al, 2008). As a result, market penetration engenders little risk. Emphasis can be devoted to reaching new customers without the diaspora, for instance through brand management.

H&M’s revenue was $24 billion in the year of 2015, a round trip to the moon is $750 million, to walk on the moon is $1.5 billion, two Airbus A380 is $810 million, the most expensive house, Antilia Mumbai in India is $1 billion, five F-35C Lightning II fighter jets are $1 billion, and the Los Angeles Lakers are $1 billion. Obviously, H&M makes a lot of money, has a great influence and impact on today’s fashion industry. What makes H&M one of the most popular global clothing retailers? Why does United States have over 400 different H&M locations? H&M’s visual marketing strategies played a big role in the success of the company.

As the economy is in a state of confusion, it is important that HN constantly monitor their marketing strategies. The implementation stage is quite difficult, especially as unforeseen situations may arise that put in jeopardy the success

H&M is Swedish multichannel retailer for clothing with over 2,629 stores cross UK and that occupies 53 countries. The company become the second largest retailer and employed with over 116,000 people. The company has known the best fashion clothing for men, women, kids and teenagers. The company offers styled and quality at the best price. It’s designed-driven innovative and responsible fashion and based on strong values that are growing all over the world while developing quality, sustainability and high profitability.(H&M annual report,2012) H&M organisation structure is the pattern of jobs and groups of job within the organisation.

Sweden 's Hennes & Mauritz, more commonly known as H&M, is a retail-clothing company, famous for its reasonably priced “fast fashion.” With 6 different brands sold in 3,300 stores spread out over 54 countries, the company is second only in size to its direct competitor Zara. H&M uses psychographic segmentation, targeting at customers who belong to the group of fashionable and trendy consumers, who see shopping as a social activity providing pleasure in their daily life.

Since H&M opened the first shop in Sweden in 1947, using an American concept of shops selling stylish clothes with low prices bring H&M successful in the domestic market. H&M started to expand internationally from 1964. Not only Europe market, H&M also enter in North America, Asia and Middle East market.