Marketing Essentials Essay Example | Topics and Well Written Essays - 3000 words

Marketing Essentials - Essay Example ........................................ 3.2 Porter’s Five Forces – relevant concerns.................................................... 4.0 SWOT and competitor analysis............................................................................... 4.1 SWOT analysis............................................................................................. 5.0 New product idea for H&M...................................................................................... 6.0 Marketing objectives and strategy............................................................................ 6.1 Pricing........................................................................................................... 6.2 Product.......................................................................................................... 6.3 Place............................................................................................................... 6.4 Promotion....................... ................................................................................ 7.0 Segmentation, targeting and positioning.................................................................... 8.0 Three year financial forecast and budget................................................................... 9.0 Metrics and implementation controls......................................................................... ... Main competition such as L’Oreal maintains 41 percent of market share with double-digit growth in sales due to the hedonistic and collectivist characteristics of male target markets in China. Financial forecasts indicate a 29.1 percent profit margin in 2014, which is lower than desired due to the high costs of operational development in manufacturing and research and development that is necessary for a business not familiar with product line extensions and new branding strategies in this product category. Over time, however this profit margin increases due to more streamlined internal systems and better logistical strategy development. H&M represents a total market value of (forecasted) over 89 billion USD in China, offering ample opportunity for revenue growth of approximately 15 to 20 percent year-on year through 2016. 2.0 Mission statement H&M strives to understand the importance of male grooming in a contemporary cultural environment, recognising the professional and socia l implications of maintaining a precise and well-tailored appearance. The top quality H&M for men line provides superior value as best-in-class grooming opportunities with the freshness of modish and elegant style. 3.0 Market overview The male grooming products market has experienced significant and explosive growth since 2004. In 2004, approximately seven billion USD were spent on grooming products specifically tailored for male grooming needs, including hairsprays, conditioners, shampoo and even hair colouring treatments (Hairstyles-7.com 2004). In 2010, one of the most prominent beauty companies, L’Oreal, experienced a growth rate in sales of male grooming products of 30 percent (CBS 2011). It is estimated that demand for male grooming products will increase to a