Marketing Plan for H&M Fashion Industry
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 recognized for its fast-fashion clothing business. The company has more than 2300 stores in many countries and has a large workforce. Developing a detailed marketing plan would enable the H & M Company to understand the new market, consumers’ behaviors and their competitors (Bangs and David 2011, p, 64). This can be a major competitive advantage for their fashion business. Designing a market plan would enable the H&M Company to extend their existing range of products through adding new products, hence increasing their sales.
Mission
The mission of H&M Company is to offer high quality range of products through adding new products that may satisfy the needs of customers, hence achieving profitability.
Objectives
• Producing high innovative brand products of high quality in order to create a new market for the fashion products thus, increasing sales of the company. • Introducing better marketing strategies that would enable the company to compete favorably with their competitors in the new markets. • Providing customers with new fashion products that are different from their competitors in order to expand the market for the company’s products. • Providing customers with different varieties of clothes at affordable and
Name:
Tutor:
Course:
Institution:
Date:
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 recognized for its fast-fashion clothing business. The company has more than 2300 stores in many countries and has a large workforce. Developing a detailed marketing plan would enable the H & M Company to understand the new market, consumers’ behaviors and their competitors (Bangs and David 2011, p, 64). This can be a major competitive advantage for their fashion business. Designing a market plan would enable the H&M Company to extend their existing range of products through adding new products, hence increasing their sales.
Mission
The mission of H&M Company is to offer high quality range of products through adding new products that may satisfy the needs of customers, hence achieving profitability.
Objectives
• Producing high innovative brand products of high quality in order to create a new market for the fashion products thus, increasing sales of the company. • Introducing better marketing strategies that would enable the company to compete favorably with their competitors in the new markets. • Providing customers with new fashion products that are different from their competitors in order to expand the market for the company’s products. • Providing customers with different varieties of clothes at affordable and