H&M is one of the world’s leading fashion apparel and this article is about marketing mix of H&M. The marketing mix of H&M will be discussed from global point of view as it is a global brand. H&M group has many brands, each with their own identity in the fashion world. H&M is targeted towards people of all ages and the people belonging to middle income group. Their goal is to provide the customers with fashionable, quality products that keep them in touch with the trends in the fashion industry and that too at an affordable price. Their goal is to make their fashion sustainable through their brand. The marketing mix of H&M is discussed below:
Product
H&M group has various retail stores all around the world. The company deals with fast fashion products for men, women and kids. The product portfolio is wide where the brand introduced its clothing first and then expanded to other fashion products. Today H&M manufactures and sells clothes, shoes, bags, accessories and beauty products. Moreover, these products have further several categories which target different people and offers varying quality. Women, men and kids all around the world have trusted H&M for their fast fashion needs because the company focuses on improvement and introducing new trends through their products and this makes them achieve more customer base around the world.
Price
Since H&M has many brands and they all are targeted towards a different set of consumers, they have varying price range for their products. Most of their products are offered at an affordable price for middle income group. While, some of their brands are a little high priced but we cannot call it premium price since they do not compete with brands like Gucci and Prada. These prices also vary depending on the region that they sell in. This varying price is the result of shipping price for some countries and additional taxes and regulations for some countries. Overall, H&M differentiates itself on the basis of price offered for its products.
Place
H&M has exclusive stores located around the world through which the company sells its products. Mostly, these stores are located in big cities, city centers and shopping malls. This is because of the kind of people they are targeting through their brand. H&M has expanded in terms of placement of their brand worldwide in the last few decades. Moreover, the placement of the brand in the minds of the consumers is such that people view it as an affordable, trendy brand that always provides them with latest fashion products.
Promotion
The promotion of H&M varies in each country depending on what is needed. Globally H&M markets through billboards, magazines, fashion shows, and social media. Since, digital media has become extremely important medium for promotion, H&M is very active on their digital platform including their website and app which interacts with their customers. Additionally, they also promote their brand through celebrity promotions around the world. They are also highly active in their CSR activities which obviously increase their value as a brand.
References
Bhasin, H., & Muskaan. (2017, December 31). Marketing mix of H&M – H&M Marketing mix and 4P’s. Retrieved June 3, 2018, from https://www.marketing91.com/marketing-mix-hm/
H&M group | At a glance. Retrieved June 3, 2018, from http://about.hm.com/en/about-us/h-m-group-at-a-glance.html