Marketing Planning Process of H&M

Topics: Marketing, Marketing plan, Strategic management Pages: 12 (4115 words) Published: April 7, 2010
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I would like to Thank Frances Smith and all the ladies at Invest Northern Ireland for all of their help and support throughout the process of this assignment. Their contribution has been truly appreciated. Introduction

In order to understand the Marketing Planning Process it is important to first know what the term, Marketing Planning Process means. Market planning is “the process by which businesses analyse the environment and their capabilities, decide upon courses of marketing action and implement those decisions. (Jobber, 2006) It is also important to acknowledge the different stages and types of the process and which is best for the company. Methodology

Information has been gathered from a wide range of sound and non-biased secondary resources. Statistical information, information on profitability of the company’s marketing environment has been sourced and analysed from sites such as Datamoniter, Mintel Oxygen, key Note and Lexis Nexus. Further Data and information has been sourced from electronic journals such as Emerald, business websites, respected newspapers and The H&M company website, from which this Marketing Planning Process will be based. Business and Marketing theories have been gathered from marketing gurus and scholars such as Jobber, Kotler and Porter. Primary research will also be gathered in the form of studying the local H&M stores. The Marketing Planning Process.

Business Mission
Marketing Audit
SWOT Analysis
Marketing Objectives
Strategic Thrust
Core Strategy
Target Markets
Marketing Mix Decisions
Organisation and Implementation
(Jobber, 2006)
1.1- The Importance of the Marketing Planning Process.
With business operating in an increasingly competitive environment, “Having a plan gives managers a focal point for decisions and actions.” (Jobber, 2006) The planning process gives the company the capability to run successfully and achieve profitable sales, “It makes sense to try to bring some order to this chaos by understanding the commercial environment and bringing some strategic sense to the process of marketing products and services.” (Tutor2u, 2009) This is why the marketing planning process is very important to a business; it helps to structure tasks and processes by answering all the relevant questions of such as; where are we now?, how did we get there?, and where are we heading?, in order to achieve the desired goal. In order to fulfill these appropriately using a method of SOSTAC will help to give a structured analysis as each element relates to an important stage within the planning process. SOSTAC is an Acronym for the 6 basic elements of the Marketing Plan: Situation Where are we now?

Objectives Where do we want to get to?
Strategy How are we going to get there? – The Big Picture Tactics How are we going to get there? – The Detail Actions Who is going to do what and when?
Control How can we control, measure and develop the process? 1.2- The Advantages of the Marketing Planning Process. The Marketing Planning Process is a great way “to provide a well defined path from generating a business mission to implementing and controlling the resultant plans.” (Jobber, 2006) The advantage of a good marketing plan is that is means that the company can have a clear picture of what they have achieved and what they need to achieve in order to determine if a process was successful or if a new addition will be. The planning process means no time is wasted and everyone is on the...
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