Unit 19 Marketing Planning Assignment Solution - Tommy Hilfiger

Unit 19 Marketing Planning Assignment Solution - Tommy Hilfiger

Unit 19 Marketing Planning Assignment Solution - Tommy Hilfiger

Program

Diploma in Business (Marketing)

Unit Number and Title

Unit 19 Marketing Planning - Tommy Hilfiger

QFC Leve

Level 5

Introduction

Marketing planning refers to the systematic strategy to reach the customer for products and services so that competitive advantages and benefits can be achieved. Hilfiger which is a well-known organization in fashion industry, serve the customers for fashionable cloths and wears. The unit 19 marketing planning assignment solution - Tommy Hilfiger will discuss the changing prospective of marketing planning in organization and will determine its capability to adapt future demands and trends. Various organizational auditing and analysing techniques will be discussed along with external factors on market planning. The report will develop marketing plan for new product from Hilfiger organization. The report will illustrate the pricing, development techniques and many other recommendation to achieve customer satisfaction and loyalty. The implementation and distribution structure will be discussed for new product along with influence of external factors on its marketing. Addition to it, customers’ ethical issues will be determined along with possible actions of organization to handle them effectively.

Unit 19 Marketing Planning Assignment Solution - Tommy Hilfiger

Task 1

Essay

The success of any organization is mainly driven with the  human resource management  and the approach to reach the target customers. Hilfiger has talented and skilled employees those empowers the business to market the products. With time  marketing strategy  is changing. Modern marketing planning is the result of addition of customer demands and expectations with traditional marketing planning. The organization has evolved from traditional marketing to modern approaches so that it can survive in competitive market. The tradition approach of organization to market is to sale the products on dedicated stores and to promote the business with celebrities. Al though organization has used traditional marketing effectively and keep itself away from discount based selling of products (Pulendran.et.al.2015). Organization moved from one fashion to another so that it can cover market with customer demands. Today, organization has improved the marketing planning as it delivers the products to all leading stores and sales outdated stuff with proper discount. Addition to it, organization started to promote products on online platform. Digital advertising and product branding are helping to know the diversity of customers and to serve them effectively. In this manner, organization has also implement diversity in designing departments so that it can prepare the products according to different cultures and locations. The organization’s strategy to cover the European market with France and Italy dresses was effective. Organization used separated product branding to serve the leading stores in these countries (Hollensen, 2015).

The organization is capable to cover the future market as it has diverse set of talents from about thirty countries to design the products. The talented and skilled employees of organization has effective management and control of business to serve customer on time and with adequate budget. Managers and supervisors are properly powered in workplace to take decisions and to make strategies according to market changes. The human resource of organization is capable to lead Hilfiger in competitive market. Addition to it, organization has almost 1800 whole sale stores to serve other retailer in different countries. It states that organization is physically capable tocover the global market. Most of stores are also owned by Hilfiger so that it has reduced cost on products to store and sale with physical location (Luxton.et.al.2015). Hilfiger is seems to be financial strong as it has tie ups with celebrities and other well-known personality for promotion of products. Also the premium cost and features of products indicate that organization is financially capable to meet new marketing activities. Therefore, the organization can effectively deal with trends and demands to cover the market before the competitive in market. The capabilities of organization should be invested to reach the target customers effectively for more profit and sales. As future activities, organization may come up with own on line stores and events to enrol customers in promotion and branding.

Addition to all that, organization needs to determine the performance and quality in products for auditing purpose. Auditing of organization helps to enhance the performance and to deliver the right products in market along with loyal relationship with customer. Hilfiger has customer auditing techniques to evaluate the capability of organization in customer satisfaction and loyal relationship (Baldacchino.et.al.2016). Front end presentation, formal behaviour and customer feedbacks are at front to manage the relationship with customers. The products are reviewed with customers to enhance the services and products. The determination of pricing, effectiveness and efficiency to reach market and capability to satisfy the customers are part of customer audit technique. Hilfiger also uses workplace audit to make business processing systematic, productive, creative and disciplined. The employees are observed for performance and quality in work. The business process and activities are determined for higher efficiency and effectiveness to meet customer’s demands. Management operations, policies, procedures, employee responsibilities are considered in audit to enhance the workplace quality and productivity along with identification and involvement of future techniques to solve the problems. Audit of workplace helps to schedule the business and to vision future goals clearly. Employee satisfaction and performance is achieved with proper training and development programs along with adequate rating for their performance and rewards (Arnettand Wittmann, 2014).

Value chain analysis helps  marketing essentials of Hilfiger  to identify the activities those are most valuable in business processing and can be improved to achieve market advantages. Business activities are focuses according to their values so that more profit can be generated with less input. Also the existing activities in workplace can be enhance to meet goals. For instance, Hilfiger identified that traditional business processing is becoming less effective so organization introduced effective electronic system to monitor and guide the employees. Value chain analysis helps to serve the customers with cost advantageous strategies and helps to reduce cost per product in organization.

Value Chain Model

                        Figure 1:  Value Chain Model

For external analysis, organization uses Porter’s five force model to determine the marketing planning. The buyer and supplier power has although no significant effect on business as organization has reputation in market and only needs to enhance the quality. But the entry of new companies and substitution has influence of marketing planning because the products are easy and cheaper to replicate with same quality. Therefore, organization must need to enhance the distribution capabilities and the premium product services. It is required to achieve benefits with loyalty of customers. The market is also influenced with competition as the industry has large benefits and less risk to sustain and grow (Hollensen, 2015). Organization needs to retain with innovative and creative ideas in products so that competition can be smoked effectively. Update to latest changes in technology and target market can help to conquer competition and other external factors.

Porter's Five Force mode

                     Figure 2: Porter's Five Force mode

Task 2

Marketing Plan

Executive Summary

Marketing strategy  is required to introduce new products in market or to generate profit from existing products by promoting them. The marketing plan of Hilfiger to meet the customer requirements and demands for season wear. Organization is planning to introduce new winter wears those can attract the customers for low cost purchase and high quality. Organization has selected the leading stores to sale the products. Online as well as traditional banner based approaches are being used to promote the products and to offer adequate amount of discount on regular sales.New product for winter like leather jackets and cashmere sweaters will be introduced in Italian and franchise format so make them popular in remaining world. With the innovative idea for culture wearing in global market, organization is expected to sale out already stocked products from leading Italian market (Spawton, 2013). Organization is changing the distribution approach as tradition sale only to wholesale stock is being costly for organization. In order to serve own whole selling store, Hilfiger is making use of diverse products according toculture also. Most of European products are presented in Asian market so that culture can be normalized for production benefits and innovations.Organization is also starting to make sales online with integration to social web advertisements so that most of market can be covered effectively and directly to reduce the intermediate cost of purchase.

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Role of Marketing Plan in Corporate Strategy

The corporate strategy of Hilfiger is to achieve the benefits from market by appearing first with desired products. With this organization is also assuming a large set of new customers in business and to generate market values with quality products (Brooksbank, 2013). The marketing plan is made with the consideration of economic pricing so that market can be attracted and conquer for corporate benefits. Organization will target top physical stores and whole sale centres to reach customer. Also the discount of bunch sales will be effective to cover market. Italy and France are two growing market and organization is setting up own stores to reach most of customers in market. For that organization already has designed the diverse team of employees to meet customer satisfaction and culture in dresses. The first appearance in market for season sales, attractive discounts and easy availability are key term in marketing of Hilfiger products. Rather than to stick on premium pricing organization is focusing to get benefits with high number of sales so that pricing are set to economic and competitive values. Customers’ culture and demands are managed in products and they are being encouraged to enrol themselves in European culture. With the innovative idea to normalize the culture globally, organization can achieve high number of new customers as loyal ones and can generate higher revenues (Gmelinand Seuring, 2014). The marketing plan is fully economic for corporate strategies and constraints.

Techniques for New Product Development

Hilfiger has learned form own mistakes as it was failed to continue with preppy products. The failure of distribution has taught to prepare distribution network globally. Organization was failed in Franchise and Italian market as it arrived too late to serve customers. The distribution of product was not so accessible to target  customer satisfaction. Organization learned that marketing requires the proper analysis of pricing and competition to achieve high benefits. Organization is now making strong relations with customers as well as suppliers for product so that economic products can be introduced to meet customer expectations.Therefore, organization is focusing to empower distribution channel. Organization learned that stickiness to same pattern and fashion in clothing product cannot become reason of survival in industry (Ahmad.et.al.2013). Therefore, organization started to move into season based wears rather than to continuous production of jeans and other casuals. Al though the experimentation to normalize the market with same fashion pattern is an innovative idea and has equal probability of success.

Product Description

Organization is experimenting to sale the products with diverse culture. Customers are facing problems with quality and tradition patterns and looking for something new. Hilfiger believes that only innovative ideas with proper quality and pricing can bring it to customers and create loyal relationship with them (Kireyev.et.al.2014). The winter product series with economic pricing will help the organization to cover most of market. In this manner, Hilfiger is trying to solve the issue of traditional colouring and looking of products.

Pricing Strategy

Hilfiger can use economic pricing on products as it is effective to cover various age groups in market. Organization can make more sale with economic pricing and get market advantages with little collection from each product sale. The competitive in market has products but pricing premium so most of customers are away from them. The target market of organization normally appeals high quality in less pricing and needs something different also. The pricing strategy of organization also helps to down the product choices and helps to make the benefits from more sales.

Distribution Strategy

For proper and effective distribution of new products, Hilfiger can use top rated physical stores and crowdie markets to reach customers. Also the online shopping is being common in customers as it can reduce intermediate cost and service charges. Organization may use major retailer stores to sale the product to customers. Whole sale stores of organization can be used to provide the services to local stores in country and city (Solomon, 2014). It is recommended that organization uses top physical dedicated stores and online shops to serve the customer with accessibility to products.

Communication Strategy

It is recommend to use internet advertising and integration with social media to reach the customers as internet is being common in most of countries in world. Addition to it, organization can use television and road holdings to encourage the purchasing at local store in city.Target market segment of customer is youngsters and they are mostly connected with television and internet. Internet can help to reach worldwide set of diverse customers and helps organization to plan the marketing effectively (Ha, 2016). Local advertising and promotions are also effective to attract the customers towards products and pricing.

Implementation

The organizational objective with new products and marketing plan can be measured with determination of total sales per month and customer review collected on social and internet portals. Organization may use social media and customers’ feedback to review the performance and quality in product. It will also help to measure changes in market conditions and customer demands so that organization can take decisions within time to recover from crisis. Customer relationship can be used to know their demands and expectations. Distribution channels can be monitored for promotion and sales within a unit time so that strategies can be changed accordingly. It is recommended to monitor sales per store and interest of customers in online shopping. The reviews and complaints on products can be handled properly to avoid business bad factor promoting.

Ethical consideration- How ethical issues influence marketing planning

Hilfiger organization must need to be transparent in marketing planning and promises. The ethical issues like faults and conflicts in advertisements, wrong method of advertising and product description, improper marketing plan which conflict with pattern of other companies or against the ethical values of customers. The target customers of organization expect the legal product promotion along with promises for shown quality and performance. Therefore, organization must be trust worthy in product promotions and features so that customers can be conquer for long period of business Hilfiger believes that it is typical difficult to divert the customer from the native culture and they are strongly connected to social culture and beliefs. The series of products from organization must be according to cultural values of customers or flavour of differentiation in culture. The products must be adequately for living standards and cultural patterns so that customers can enrol more effectively in business (Cui, 2015). Hilfiger like organizations face the ethical issues like governmental rules for marketing, decision making, diversity in philosophical view and social patterns of living and compliances on products.It depends on target market segment how it is capable to transform into new trends along with present living levels. The influence is also driven with governmental contribution and control in marketing planning of products.

Hilfiger and ethical issues

The ethical issues of market segments are handled properly in Hilfiger. Top management of organization is liable to analyse the marketing plans for ethical issues. Management evaluate the conflict those may arise due to philosophical and social views of customers along with their cultural values. Organization avoids the use of complex promotions activities and helps to enrol with customers in their behavioural and living manner. Most of advertisements and promos are made to attract the customers with transparent marketing planning. The discount and features are well tested in products before to invoice the customers in market (Malhotra, 2012). The diverse nature of customers are handled with products those are common in most of culture so that effort and cost to meet customers can be reduced. Hilfiger also uses the concept of proper answering to customer complaints and reviews so that business is away from the conflicts in ethical issues. Customers achieve trustworthy products and features in their price and organization never promote with wrong features in products. In this manner, products are clear at customers’ side and not used to divert them illegally in competitive market. Proper licencing is used in business to sale products in different countries. Also the practices in marketing are standardized to manage customer relationship and ethical issues.

Consumer ethics and effect on marketing planning

In order to address the customer ethics, organization needs to analyse marketing planning effectively. For instance, customer always seeks for the loyal product and services and demand that they achieve trustful service in their pricing. In such cases, organization needs to feedback the customer on complaints with adequate behavioural,  information and communication (Armstrong.et.al.2013). Customers’ ethical values affect the marketing planning badly because organization may need to start the planning form thee beginning or may ride the loss in between the implementation of strategy. The rollback of marketing planning due to customer ethical issues may degrade the business and brand image and also result in the form of loss of capital and time. Competition is too tight in clothing industry. In such cases, organization must need to be aware with ethics so sustain in market. The ethical issues can be handled with proper analysing of marketing plan for demands and requirements. Also legal and governmental compliances on business procedures must be identified for standardization of marketing plans and strategies. Ethics influences the business as a barrier to achieve desired goals and objective with specific segment of customers in market (Dinnie, 2015).

Conclusion

The report has been concluded the changing marketing prospective and capabilities of Hilfiger organization for business sustainability. Various auditing techniques has been discussed along with marketing planning influence factors. The report has been presented the relationship between market planning and business strategies. New product has been described to achieve market advantages along with full description of pricing and other factors related to customers. The recommendations are given for product distribution, implementation and success measurement. Also the influence of ethical issues has been count in case Hilfiger and described how organization handles ethical issues effectively. The report has been presented the executive summary for product introduction in market and indicate how organization can plan to meet customer satisfaction.

References

Books and Journals

Ahmad, S., Mallick, D.N. and Schroeder, R.G., 2013. New product development: impact of project characteristics and development practices on performance. Journal of Product Innovation Management,30(2), pp.331-348.
Armstrong, R.W., Stening, B.W., Ryans, J.K., Marks, L. and Mayo, M., 2013. International marketing ethics: problems encountered by Australian firms. Asia Pacific International Journal of Marketing.
Arnett, D.B. and Wittmann, C.M., 2014. Improving marketing success: The role of tacit knowledge exchange between sales and marketing. Journal of Business Research67(3), pp.324-331.
Baldacchino, P.J., Tabone, N., Agius, J. and Bezzina, F., 2016. Organizational Culture, Personnel Characteristics and Dysfunctional Audit Behavior. IUP Journal of Accounting Research & Audit Practices15(3), p.34.
Brooksbank, R.W., 2013. Successful marketing practice: a literature review and checklist for marketing practitioners. International Journal of Wine Marketing.
Cui, G., 2015. Ethical issues in ethnic segmentation and target marketing. In Proceedings of the 1998 Multicultural Marketing Conference(pp. 87-91). Springer International Publishing.
Dinnie, K., 2015. Nation branding: concepts, issues, practice. Routledge.
Gmelin, H. and Seuring, S., 2014. Determinants of a sustainable new product development. Journal of Cleaner Production69, pp.1-9.
Ha, T.N., 2016. Operational Assessment OfNha Be Garment Corporation: Basis For Sustainable Marketing Plan. Journal of Advances in Social Science and Humanities,2(06).
Kireyev, P., Kumar, V. and Ofek, E., 2014. Match your own price? self-matching as a retailers multichannel pricing strategy. Tech. rep., Working Paper, Harvard Business School.