Marketing Plan of H&M

Marketing Plan of H&M

Marketing Plan of H&M

Executive Summary

The purpose of this report is to launching a new product line of H&M. The new product is a long designer pocket shirt for women. In order to cater the market, marketers need to analyze the recent strategies of marketing, adopted by Hennes and Mauritz abbreviated as H&M; this report analyzes the key issues faced by the organization in their operating environment. In this report H&M competitor strategies have also been analyzed and recent situation of clothing market in United Kingdom.

Method used for the assemblage of this report based on the secondary research, data has been gathered from the online journals, company publication, online case studies, and websites.

Missions/Aims/Objectives

H&M is the market leader in retailing industry of clothing in United Kingdom, company have achieved this place in clothing industry with the help of development and research. The base of H&M success is their mission, H&M work by focusing on providing best quality product at best level of price. Company has several retail stores in forty countries around the globe. H&M had a massive growth from their launch in 1947. H&M started their clothing business, by opening first women's clothing store.

Product definition

The designer long pocket shirts with jeans and scarf is the new trend among people who are fashion conscious and want to look good in parties and other casual occasions.

Current Situation Analysis

H&M is progressing and growing rapidly, in year 2010 H&M had opened a retail store in Turkey, H&M had also introduced the online shopping in UK at same year, on the other hand company had developed a collaboration with well known designer, such as Lanvin, this collaboration have resulted in an increasing sales.

Whereas, there are some other problems company is facing, this issue can create hurdles for company growth, on the other hand lower prices of H&M have reflected negative image of H&M products, and due to this issue customers perceive H&M products of a low quality. H&M is also facing great level of competition, due to this issue it becomes hard for H&M to attract new customers, as customer perceives that product is not up to their desired quality. New businesses in market including supermarkets have also impacted the H&M, as they offer cheaper options to their customers. Currently H&M is facing this issue.

Internal/external analysis

Market/ Industry Analysis

The clothing retailing industry is one of the stronger industries present in the U.K. In 2010, the market was worth £41.9bn, which was the highest value seen over the review period. This has given rise to large supermarkets entering the clothing retailing industry. In the recession, supermarkets increased their share in the market as customers were hesitant on spending and were looking for cheaper alternatives (Keynotes, 2010B).

In order to further analyze the clothing retailing industry, Michael Porter's five factor model will be used (Porter, 2008):

Secondary Research

Method

The methodology used for this research is based upon the secondary data that will be used for developing the report, which will include online journal articles and ...