Unit 19 Marketing Planning Assignment - Hilfiger

Unit 19 Marketing Planning Assignment - Hilfiger

Unit 19 Marketing Planning Assignment - Hilfiger

Program

Diploma in Business

Unit Number and Title

Unit 19 Marketing Planning Assignment - Hilfiger

QFC Level

Level 5

Task 1

The unit 19 marketing planning assignment - Hilfiger is all about the marketing audit associated with the marketing plan of Hilfiger based on the traditional marketing plan and the modern marketing plan. The change in the phase of the marketing plan has influenced the business operations of Hilfiger. At the same time, the evaluation also has been done based on the capabilities of human,physical, and the financial capabilities for the future marketing activity of Hilfiger.

Unit 19 Marketing Planning Assignment - Hilfiger, Uk assignment writing service

Change in the marketing plan and impact on the future market plan with capabilities

As per the view ofJobber & Lancaster (2012), the traditional marketing plan is based on the simple parameters such as Productplacement, direct marketing, sales volume, research, Advertisement,branding, publicity, pricing strategy . Sales planning and promotion,  along with the public relations in an effective manner. Previously, the brand used to get created by the management for the sale among the customers and to build the references over the offered products. The customization was not the part of the market plan as per the traditional methods. Base on this traditional marketing plan, the marketers of Hilfiger use to get established their famous brand for Denim Jeans to capture the market with the effective sale promotion, public relations, standardized pricing alongwith the good product placement in the US market. But,while they plannedfor the market expansion for Europe nations, the traditional marketing plan was required to get switched to the modern marketing plan with the complete focus on the marketing led organisation by consideringthe preferences of the customers with the help of eh marketresearchaspect. As per the view ofKotler & Keller (2009), the modern marketing plan is based on the concept of the managing of the exchange relationships between the comoany and the customers to make them mutual satisfied with the customized and the preferred range ofthe products in an effective manner. The modern marketing plan has numerous activities to perform. But, RACE is the effective tunnel model for the perfect representation of the modern marketing action plan s below:

RACE model

                                 Figure 1: RACE model

Based on the ode, it can be stated that the strategic planning, brand development  web and the social media, creative designs, camping development , CRM  sales support  and the perfect analysis are the aspects of the modern planning. As per the case study of Hilfiger, while expanding to the new market, the change of the marketing plan has been reflected by the marketing audit in an effective manner. To redirect the business operations in parallel with the customer preferences, the designer team with 30 nationalist from different nations were recruited by the company to get accustomed and also to customize their products with the cultural taste of the business location. This has been done to reach to the mass people and also to acquire the market and convert their strategy along with the preference of the nation and also to closely get engaged with the business culture of the expanded business location. For the planning of the future marketing activity, it is required by the organisation to evaluate the human resource with the trained and the skilled staffs, the physical resource with the aspect of raw materials and infrastructure along with the financial resources so that the precautionary measures and the change in the resource can be made to get marched with the requirement of the business operations.In this aspect, both the internal and the external marketing audit are required to discuss.

SWOT analysis  can be mentioned as the internal audit. The strength factor of Hilfiger is the US brand value with the good quality product offering to the US customer over decade. The Weakens can be referred as the lack of the customization offer and the usage of the outdated technology. The opportunity of the comoany can be termed as the innovation in the designing of the products and the expansion in the new market with the development of the new products(Ravija, 2016). The threat factor can be mentioned as the poor economy of the operating location, intense competition with the competitors, and the change in the preferences of the customers. With the help of the marketing audit by assessing the internal factors, the marketing pan can be changed accordingly.

From the aspects of the external factor audit, the PESTLE has been sued as the model. During the business operations, the company use to follow the political aspect so that the political impact will act positively on the business operations. From the aspect of the Economic section, the change in the economy condition of the operating country use to influence marketing plan(Singh & AshishBajpai, 2014). The change I the tastes and preference of the customers are referred as the social impact. Thus, the marketing pan for the customization offer use to get changed. The advancement in the technology withthe innovation aspects are considered as the technological factor to influence the business operations to compete with the competitors in the market. The legal aspect also use to influence the marketplan in the operating business location. The conservation of the environmentaspects also use to influence the marketing plan as the business operations of Hilfiger is closely associated with the conservation of the environmental aspects with the recycled materials, with the controlling measures of the emission of the greenhouse gas and others. Thus, with the help of both the internal and the external audit, the marketing plan use to get influenced in an effective manner.

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Task 2

Power point Presentation with Speaker Notes

Marketing Planning Slide 1

2.1 Main barriers that the marketing manager of Hilfiger has faced

Marketing Planning  Slide 2, 3

Marketing Planning  Slide 4, 5

As per the view ofSchwartz (2006), there many barriers that in general the marketing managers use to face while in the process of the perfect marketing plan. In the process of the market expansion in general following are the barriers that any marketing manager may have to face. They are as below:

  • Confusion in setting the objectives, strategies for implementation and the appropriate tactics for the accomplishment of the objectives. It is required to identify the short term and the long term objectives to meet the overall mission of the organisation.
  • The Isolating marketing in terms of making the market planning without considering the requirement of the market
  • Lack of understanding the cultural preferences in the market planning
  • Lack of understanding the marketing function and the concept as per the requirement of the market for expansion
  • Lack of team approach
  • Lack of the skilled local staffs to understand cultural preference
  • Lack of market analysis
  • Lack of the systematic approach
  • Lack of the prioritisation of the objectives(Schwartz, 2006)

Based on all the barriers, the lack in understanding the cultural preference of the customers of the international market for expansion, and the lack of the usage of the proper distribution channel for the proper establishment of the brand name are the important barriers that the marketing manager is facing while expanding their  business environment  for the European market. As Hilfiger was the US brand so at the initial stage, the marketing manager has faced the problem to attract the European customers based on the US brand value in a negative aspect (Jobber & Lancaster, 2012). As per the European customers rather than the US brand value, the brand value of the France and the Italy cloths are perceived as superior by them. Thus, competing with the France and the Italy cloths were also the important barrier that has been faced by the marketing manager of Hilfiger.

2.2 Strategies used by Hilfiger to overcome the barriers

Marketing Planning  Slide 6, 7

Marketing Planning Slide 8

To overcome the barriers that the marketing manager of Hilfiger has faced, he has intended to take some important measures. As the US brand value has been reacted in a negative manner by the European customers, so the marketing manager has planned to change the switch the products to wool sweaters as per the preference and the tastes of the European customers. In this aspect, the cultural aspect has been given preference by the marketing managers. Recruitment of the local skilled staffs also is the important strategy or tactic should be used by the managers during the international market expansion. Following this aspect , the marketing managers has planned to establish the designing team with 30 staffs with 30 different nationalists to get the different flavours and the tastes preferences of the customers and to implement the analysis into the new product development.

The marketing manager also has taken the step to implement the celebrity endorsement with the help of the renowned actors and actress to make the products offered by the company acceptable to the new market as the celebrity endorsement use to influence the buying behaviours of the customers in an effective manner. Also, regarding the distributionstrategy he has planned for the department store strategy to reach the mass population. But, for Asian countries, they have preferred for the licensing agreement as the entry mode. In this manner the negative reaction has been planned by the marketing manager to overcome strategically.

Marketing Planning  Slide 9, 10

Task 3

Executive Summary

The report is all about regarding the marketing plan of few product range of Hilfiger to Middle East, Dubai. With the help of the market research, the cultural and the teats of the Dubai people has led to the decisions of having the long dresses for women along with the jeans and the different ranges of scarfs at the initial stage. The company has decided for the product diversification with the modification of the existing brands as per the tastes and  preferences and also has suggested for the standardized pricing to reflect the brand image of the company , The departmental store distribution strategy has been planned to apply with the licensing entry mode. The ethical considerations also have been given priority by the organisation in an effective manner.

Role of Marketing Plan in Corporate Strategy

As per the view ofFoxall (2014), the corporate strategy use to focus on the profitability of the organisation like Hilfiger. It is again related with the corporate structure development, diversification of the products as per the requirement of the  international marketing  along with the debt reduction to reflect the profit in the balance sheet. On the other hand, as per the view ofCzinkota & Ronkainen (2013),marketing strategy is related with the enhancement of the sales volume with the help of the enhancement of the selling of the products. The maximization of the profit without damaging the brand with the help of theeffectiveadvertisement tool use to help to meet the corporate strategy in an effective manner. Thus, marketingstrategy is the inseparable toll to support the overallcorporatestrategy in Hilfiger. Based on the summary of the case study given, it can be proposed that while planning for the expansion of the market to Dubai, it is required to set the objectives as below:

  • To introduce of the new product range
  • To recruit of the new staffs in the design tam to meet eh cultural aspects
  • To Take the proper strategy regarding the entry mode so that the comoany will be able to follow the string legislations
  • To Take the correct distribution strategy for the effective brand awareness (Kotler & Keller, 2009)

The plan that will be developed by the marketing manager of Hilfiger will support the strategy and also will support to achieve the goals and the objectives by meeting the requirements and the cultural aspects in an effective manner. The proper understanding of the legislations along with the entry mode and the distribution strategy also will help for the effective market expansion to meet the goals and objectives for the international business expansion in Dubai by Hilfiger.

Techniques for New Product Development

The new product development is one of the important aspect in the Ansoff matrix required to discuss regarding the market expansion in the international market. As per the Ansoff Matrix, the new product development in the new market like Dubai by Hilfiger will redirect to the fact of product diversification rather than the product development in the existing market. It is required to use the product diversification in Dubai as the cultural aspects of Dubai regarding the section of clothing is different than the othercountries as they do not follow the open culturalaspects(Fuller, 2016).

Ansoff Matrix

                                         Figure 2: Ansoff Matrix

In this aspect, it is required to take some techniques for the new product development in Dubai (product diversification). The suggested techniques are: Test marketing, and observation.

  • Observation: At the initial stage, it is required to do the correct market research with the market research team to get the overall idea regarding the preferences about the clothing in varied manner. It is required to perform this task as the learning from failure will not be justified for the conservation country like Dubai(Kotler & Keller, 2009).
  • Test marketing: With the help of the test marketing with the limited collection clothes and with the promotional offers, the acceptance of the new products developed based on the observation can be evaluated in an effective manner. Based on the test marketing, the modification of the new products to be launched in Dubai will be done.

Product Description- The marketing manager has planned to introduce the modified version of some important brands in Hilfiger such as Denim jeans, Guvera High Neck Dress, Boat neck long dress, and the shirts for men and different types of scarfs at the initial stage (Bestofbrands, 2016). This small range of products with the variety has been planned to introduce in the new market to understand the matter of acceptance by the customers of Dubai. The wide range of colours will be included that Dubai has become the industrial area and the customers from the entire global market use to get accumulated for their professions. At the same time, the wide range of sizes will be included to attract mass customers with the option of the alteration and the home delivery in an effective manner. The products will be designed in such a way that it will meet the need of the customers for the regular purpose as well as for the special Occasions(Kotler & Keller, 2009). The newly launched product will help the customer to get the trendy western dresses by maintaining the basic cultural aspects of Dubai with different texture applications.

Pricing Strategy- Dubai is the most lucrative market with the average strong financial background of the general population. While planning for the expansion in Dubai, then has been planned to use the standardized pricing strategy like the price pliable for US market. As the brand is the renowned US brand, therefore it is required to keep the brand value with the help of the standardized pricing strategy. With the help of the standardized pricing strategy, it is expected to get the brand recognition by attracting good customer base towards it(Gilmore, et al., 2013). Thus, with tis brand image establishment, it is expected to meet the objectives set for the expansion of business in Dubai. It will appeal to the preferences and the behaviour of the target market as the target market is from the upper middle class to the upper class with average strong financial background to afford the dresses for casual and for the occasion purpose.

Distribution Strategy- Distribution strategy is the most important aspect in the marketing plan as it used to help the products to reach to the target market and also to position the products in the new market as per the expectations. Though the brand is going to expand in the new market but as it is going to take the licensing agreement as per the norms and regulations of Dubai(Pradhan & Kundu, 2016). Therefore, it has been planned to open the departmental store alone to get the complete attraction of the customers without the help of any other brand name. This will meet the objectives of the expansion by establishment of the individual brand name in the market with the creation of the good customer base.

Communication Strategy- The target market has been done as the upper middle class and the upper class people from the financial background. Thus, the communication strategy is the most important aspect to be developed to reach the brand name to thetarget population as well as to themass population(Kotler & Keller, 2009). Based on the requirement, Television media, social media, print media in the form of the newspaper, and the display in the bog shopping malls has been planned as the perfect communication mix. The social media has been targeted so that the online users will be aware about the brand name. The other media have been planned to target the general population along with the target population.

Implementation- Usage of the KPI for the marketing plan is required to evaluate the effectiveness. Below are the KPIs to be used for the perfect evaluation:

  • Sales Revenue
  • Customer value by the formula such as Customer value = (Average sale per customer )* (Average number of time the customer buy per year)* (Average retention time of the customer per year)
  • Social media traffic by analysing the social media responses (Kotler & Keller, 2009)

Ethical consideration- As per the view ofKotler & Keller (2009), people use to prefer to buy from the manufacturers those are associated with the business reflecting the ethical concerns to the society than the business those use to think for their profitability only.  Therefore, it is required to include the ethical concerns in doing well for the society in terms of charity or the conservation of the ecosystem, the marketing plan should be changed. In Hilfiger, dong the right thing is the central of the business operation (PVH, 2016). The social and the environmental issues are re guided by the business operations. There are 30,000 associated worldwide to support the corporate social responsibility.

Approach of Hilfiger

                                  Figure 3: Approach of Hilfiger

The ethical aspects maintained in the comoany are as below:

  1. Empowering people with the people training and development for the offering of Carrier opportunities
  2. Preserving the environment with thesafeguarding of the water resources, usingthe recycled materials reduction in the usage of the hazardousmaterial, mesa using the greenhouse gas emission, and by respecting theanimal and human beings.
  3. Supporting the communities with the help of the creating of the safe place and improvement regarding the accessibility of the education to the women and the children by investing to the non-profit organisations supporting them(PVH, 2016).

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Based on these steps issued by Hilfiger , it can be stated that the marketing plan regarding the expansion the business in Dubai will be influenced rearguing the usage of the recycle materials by theproper networking with the society and also by strong partnership with thedifferentnon-profitorganizations for thewellbeingof thewomen and the child.

References

Bestofbrands, 2016. Tommy-hilfiger. [Online]Available at: http://bestofbrands.com/sv/52/tommy-hilfiger[Accessed 24 October 2016].
Czinkota, M. & Ronkainen, I., 2013. International marketing. London: Cengage Learning.
Foxall, G., Marketing and Strategy. Corporate Innovation. London: Routledge.
Fuller, G., 2016. New food product development: from concept to marketplace. London: CRC Press.
Gilmore, A., Tavakoly, B., Taylor, G. & Reed, H., 2013. Understanding tobacco industry pricing strategy and whether it undermines tobacco tax policy. Addiction, 108(7), pp. 1317-1326.
Kotler, P. & Keller, K., 2009.  Marketing Management.  13th ed. London: Prentice-Hall.
Pradhan, D. & Kundu, N., 2016. Distribution Strategy of a Global Firm in an Emerging Market: The Case of 3M India. Asian Case Research Journal, 20(1), pp. 219-251.
PVH, 2016. Corporate Responsibility. [Online]Available at: http://pvh.com/responsibility[Accessed 24 October 2016].
Ravija, V., 2016. Competition Mapping and Analysis of ABC Western Women’s wear Private Labels. London: Sage.
Schwartz, M., 2006. Fundamentals of Sales Management. USA: Amacom.
Scienceofleads, 2016. Creating a Modern Marketing Plan. [Online]
Available at: http://www.scienceofleads.com/course-on-creating-a-modern-marketing-plan/[Accessed 25 October 2016].
Singh, M. & AshishBajpai, M., 2014. A STUDY OF IMPACT OF PRIVACY CONCERNS ON USER ADOPTION OF SOCIAL NETWORKING SITES. DMIETR, p. 19.