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Diploma in Business
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Marketing Planning Strategy
Marketing planning strategy is a very broad term that apples to a whole range of activities starting with the communication of the product or services to the customers or prospects in the target markets and making them aware of the benefits or the needs and expectations it is designed to meet(Moore et al, 2008). The marketing planning deals with all the strategies used by the marketer in eliciting the desirable responses in the customers and making the sales and revenues possible for the company. Tommy Hilfiger is a well known brand selling bags, clothing and luxury lifestyle products in world markets and the study aims to discuss the various aspects in the marketing planning of the brand along with discussing the barriers to the process of marketing planning.
The company had long history of using celebrities like Sheryl Crow and Carla Bruni in its brand endorsements and had been focusing on the design of the products to suit local need as in case of Europe. Also the paper discusses about how the company has effected changes in its marketing strategies in order to meet the plans and targets along with keeping a check on the activities of the competitors in the global markets. In the process of marketing planning, the process of analyzing the internal and external factors has a profound effect as studied in case of Tommy. Also the last part of the study aims to explain the implication of ethics in marketing and consumer behavior in order to ensure ethical practices in planning for marketing mix.
The overall strategy and the goals of the organization plays an important role in the planning and the design of the marketing activities and also marketing helps in the generation of the strong customer base for the company by making the customers aware of what they make, sell and provide to the markets (Tedlow et al, 2014). Marketing environment is seldom stable and due to this nature of the marketing environment, the company must be capable of planning to accommodate with the changes and the challenges posed by the environment as in case of Tommy Hilfiger. As the Tommy Hilfiger faced tough competition from the brands in the European and other fashion upscale markets thus the changes in the marketing plan helped the company to accommodate the competitor. The company success was through wholesaling of the brand products to the departmental stores and making use of celebrity endorsements while also supporting social causes like Breast Health International. Thus the changing in the marketing plan as in case of Tommy Hilfiger in European markets helped the company gain loyal customer base in the country. While earlier the company was focusing on only jeans it later shifted to design of sweaters, leather jackets, slim look jeans, etc for upscale European customers (Wilkie et al, 2015).
The capabilities of any organization like Tommy Hilfiger is marked in terms of the physical, financial and the human resources aspects and its overall ability to grab the opportunities posed by the marketing environment along with making the most efficient usage of resources along with being effective in gaining market image (Gordon, 2011). The capability of Tommy Hilfiger could be described as its ability to design special products as through design staff in Amsterdam designing new products and luxury items for the European markets to grab the upscale fashion customers in France and Italy. Thus the human resource capabilities of Tommy Hilfiger are described in terms of its new product design as per target customers along with effective use of human resources in implementation while the financial capabilities refer to its availability of funds for deploying new markets in world as Europe. This helped the Tommy Hilfiger for making use of innovative technology and design of European customer needs and thus gaining market shares there thus helping future marketing activities in Europe after US (Tedlow et al, 2014).
The auditing in any organization including Tommy Hilfiger includes a deeper understanding of the internal and external factors that have a bearing on the organization functions and capabilities (Moore et al, 2008). The external environment of the organization s studied using many tools including PESTEL analysis which corresponds to the study of the political factors in the country; economy of the nation including taxation, monetary policies, availability of funds, interest rates, etc; social aspects as including the society and culture; technological factors as including level of the innovations in industry and nation; environmental factors as including the geography, pollution, climate, etc; legal factors as including the laws and regulations along with government initiatives, etc (Tedlow et al, 2014). The internal environment is studied through analysis of company mission, strategies, vision, mission along with use of tool like SWOT analysis which includes the internal strengths and weaknesses of the company while also looking for the opportunity and threat that underlie its environment and may impact Tommy Hilfiger’s future.
Any organization including Tommy Hilfiger needs a strong planning of its marketing initiatives in order to gain success and loyal customer base. In determining the success of the products of the organization like Tommy Hilfiger the marketing planning lays important role as deciding fro celebrity endorsement strategy in advertising and promotions (Wilkie et al, 2015). Though the marketing planning is a very essential part of any organization but there are certain barriers to this marketing planning that impacts the organizations like Tommy Hilfiger as:
The organizations like Tommy Hilfiger may overcome these barriers as through:
The plan for the new product range of Tommy Hilfiger in Dubai would be as follows:
Marketing strategy –
The strategic planning is related with the basic decision on the company mission, vision and the overall objectives of the organization (Gordon, 2011). The marketing plan is derived from the overall objectives of the organization as in Tommy Hilfiger and helps in measurement of the success of the company in terms of the attainment of the marketing and overall objectives. Marketing planning helps in analyzing the potential customers and the demand in the target markets along with analysis of the taste and preferences of the customers as done by Tommy Hilfiger in case of its entry in Europe thus leading to design of new range of sweaters, leather products, slim look jeans, etc. Marketing planning helped Tommy Hilfiger in realization of target market shares in Europe and other parts through placing focus on customers and their expectations which changes often in fashion industry. Also marketing planning helps Tommy Hilfiger in analysis of the competitors as including Nike, Lee, Levi, etc in Europe and other markets across the world and effective strategic planning as through BCG matrix and Porter five forces analysis in order to beat the competition while also gaining competitive advantage for Tommy Hilfiger as through innovativeness in design (Tedlow et al, 2014).
The new product development as in case of Tommy Hilfiger is a necessary function in order to continuously meet the needs of style and fashion conscious customers in world markets (Kotler et al, 2012). The various techniques involved here are:
For the launch of new range of products of Tommy Hilfiger at Dubai, the recommendations would be as follows:
There are certain factors that have impact on the proper and fruitful implementation of the good market plans as:
Code of ethics in the business implies the decision making and the behaviors in the organization to be based on certain desired or acceptable guidelines (Kotler et al, 2012). While practicing the marketing strategies and the activities, the marketers must be fair and just in behaviors including advertising and does not make fool out of the customers and thus the moral principles must be incorporated in to marketing (Gordon, 2011). Thus the organization like Tommy Hilfiger must be planning the marketing not just in order to fulfill the needs and expectations of the customer but practicing ethics in marketing. This will help the customers to develop a trust and good attitude towards the brand thus the marketing plan must be based on ethical conduct in order to generate long term relationships (Christopher, 2010). While the unethical conduct of the marketers may reap bad image, customer disloyalty and legal suites against the company thus making it fail completely.
The customers may not wish to make future purchases from the organizations that make false claims through advertisements, where product performance is low, provide impulse in customers to purchase the product by giving fake information, etc (Tedlow et al, 2014). The management of Tommy Hilfiger is concerned about the ethical practices in whole organization including the marketing function thus it provides Code of Conduct while also providing training and relevant information to its employees to make ethical decisions and take care of the rights and benefits of the customers and other stakeholders like suppliers and investors. Tommy Hilfiger had developed a socially responsible image as through promoting social causes like Breast International and the organization culture towards the ethical practices in the organization. The company involves in legal suits against the employees or other stakeholders following the unethical behaviors in organization. This helps Tommy Hilfiger to maintain its image in minds of the customers as providing reasonable goods with ethical advertising (Kotler et al, 2012).
A ethical consumer is one who in their shopping behaviors make decisions as being concerned towards the society, environment, animals and the entire nature and thus prefers to buy the products from those brands which ensures all such considerations in their operations (Gordon, 2011). The ethical consumer will not involve in purchase of the goods that are prohibited by law or harms the nature or society. Tommy Hilfiger is concerned about the rising awareness and ethics in the consumers around the world and thus in its marketing planning it incorporates promoting social causes like child education and Breast International campaign to develop socially responsible image of Tommy Hilfiger in minds of target customers (Phatak et al, 2009). Also Tommy Hilfiger has a policy of getting raw materials from suppliers practicing sustainability and are responsible towards the environment (Tedlow et al, 2014).
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Tommy Hilfiger is well established brand worldwide and the marketing planning is an essential part of its functioning. This helps the organization auditing as through the analysis of the internal and the external factors that have a bearing on the organization. There are certain barriers to marketing planning like the attitudes and the cooperation amongst the employees or the top management which Tommy Hilfiger must overcome to gain over business strategy. New product development is important for Tommy Hilfiger as it operates in lifestyle segment where the rend changes frequently. Tommy Hilfiger must continue to make products as per the research on the consumer needs, tastes and preferences to keep abreast of competitors like Nike, Wrangler, etc (Tedlow et al, 2014). Based on the study it is quite evident that how important is the ethical decision making and practices for the marketers including Tommy Hilfiger as not making use of children in advertising and making false claims about product performance making the customers to purchase instantly.
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