H&M marketing
Marketing in the Modern Organization
Introduction
Marketing has been viewed traditionally as a business activity. The role of the marketing in the modern organization is to integrate the customer needs and wants to the other organizational function such as R&D and production. The concept of the marketing is to achieve corporate goals through meeting and exceeding customer needs and expectations better than the competition. Marketing tries to create customer value with the aim at long term satisfaction. Based on its understanding of customer, a company develops its marketing mix. Marketing creation of customer interest and retention of customers if this can be done at a profit. H&M spends a hefty 4 percent of revenue on marketing as valuable investment. At current sale level, the chain is the largest apparel retailer in Europe. H&M is not just a store chain; it is a money-making machine.
The marketing orientation vs production orientation
Marketing orientation companies focus on customer needs like firms develop products with customers and use market information and intelligence as basis for learning. Marketing orientated companies get close to their customers in order to understand their needs and differences. Marketing research seem as an investment and welcome organizational change necessary to maintain strategic fit between organization and environment. rewards risk and innovation by employees and identify latent market. Based on its understanding of customer, a company develops its marketing mix. Production orientations define themselves through their product. It is the cost focused as economies of scale, based on production capabilities and sale their product aggressively.
The case study reveals that H&M is using marketing mix strategies. The marketing mix consists of four major elements: product, price, promotion and place. However, the criticism of 4ps approach might be too simplified; it should add up process, packaging and
Introduction
Marketing has been viewed traditionally as a business activity. The role of the marketing in the modern organization is to integrate the customer needs and wants to the other organizational function such as R&D and production. The concept of the marketing is to achieve corporate goals through meeting and exceeding customer needs and expectations better than the competition. Marketing tries to create customer value with the aim at long term satisfaction. Based on its understanding of customer, a company develops its marketing mix. Marketing creation of customer interest and retention of customers if this can be done at a profit. H&M spends a hefty 4 percent of revenue on marketing as valuable investment. At current sale level, the chain is the largest apparel retailer in Europe. H&M is not just a store chain; it is a money-making machine.
The marketing orientation vs production orientation
Marketing orientation companies focus on customer needs like firms develop products with customers and use market information and intelligence as basis for learning. Marketing orientated companies get close to their customers in order to understand their needs and differences. Marketing research seem as an investment and welcome organizational change necessary to maintain strategic fit between organization and environment. rewards risk and innovation by employees and identify latent market. Based on its understanding of customer, a company develops its marketing mix. Production orientations define themselves through their product. It is the cost focused as economies of scale, based on production capabilities and sale their product aggressively.
The case study reveals that H&M is using marketing mix strategies. The marketing mix consists of four major elements: product, price, promotion and place. However, the criticism of 4ps approach might be too simplified; it should add up process, packaging and