Marketing Plan for H&M Fashion Industry

2524 Words Oct 6th, 2012 11 Pages
Marketing Plan for H&M Fashion Industry

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Marketing Plan for Hennes and Mauritz (H&M) company
Introduction
A marketing plan is a vital aspect in any organization that may want to achieve success. This is because it reveals a list of actions that are aimed at driving an organization towards enhanced business performance. Hennes and Mauritz (H&M) Company is one of the largest fashion company in the world that manufactures various types of fashion clothes for men, women, youths and kids. H&M was founded by Erling Pearsson who opened the first store in Vasteras, Sweden in 1947. It is a Swedish retail company that provides customers with different types of clothes. It is well
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For instance, the company may carry out analysis of the political climate of their new market in order to determine if it would hinder them the company’s business performance. Additionally, the company may employ Porter’s framework in scanning the external environment of the market in order to determine market situation. According to Cadogan (2009, p, 134), Porter’s framework employs five force analyses that would enable H&M Company to compete effectively in the external market. These include the suppliers bargaining power, barriers for entry, existing competition, consumer bargaining power and product substitutes. Organizational analysis is another determinant, which would enable the H&M Company to achieve success. This is through understanding organizational culture in which the company operates. H&M Company may therefore, analyze organizational culture before thinking of introducing new products into the new market. Devetak (2000, p, 165) argues that understanding organization culture enables a business to produce new and innovative products for the market. This is because, organization culture may impact the performance of an organization negatively if it is not taken into considerations. Moreover, understanding the cultural behaviors towards dressing styles and taste difference of customers is crucial. This is because customers have different cultural behaviors towards consumption

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