ASSIGNMENT 1 FRONT SHEET

Qualification BTEC Level 4 HND Diploma in Business

Unit number and title Unit 2 Marketing Planning and Processes

Submission date 28/11/2022 Date Received 1st submission

Re-submission Date Date Received 2nd submission

Student Name Hồ Mậu Thành Student ID GBH211272

Class GBH1113 Assessor name Đặng Sơn Tùng

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 Table of Content

I. Introduction
II. Main content
1. Marketing & The Marketing Process
1.1 Marketing
1.2 The marketing process
2. The Company – Hermès
2.1 The marketing process of Hermès
2.2 The Marketing Roles & Responsibility
2.2.1 The micro environment
2.2.2 The macro environment
2.3 How Marketing function influences and interrelates with other functional
departments
2.4 A critical analysis of the most significant influence marketing environment factor to
the company
III. Conclusion
IV. Reference
I. Introduction
I’m a Junior Marketing Analyst working in the Marketing Department. In recent days,
through research reports that show Brand Hermès, which is a famous international
fashion brand, opened its first store in Hanoi capital, Vietnam, over twelve years ago.
Since then, this brand has growing quickly, expanding its retail stores in other cities and
becoming one of the most popular and interesting fashion brand of Vietnamese
consumers. In order to be successful, it is primarily attribute to Hermès’ excellent
marketing strategy. In this report, it is a critical analysis to present the factors that create
the success of Marketing and Marketing process in Hermès’.

II. Main Content

1. Marketing & The Marketing Process

1.1 Marketing: is a method of assisting in connecting customers and businesses, and a process for
creating value for customer relationships that benefits the organization and its stakeholders (Kotler &
Armstrong, 2020)

1.2 The Marketing Process:

Figure 1.1 The Marketing process (Adapted from Kotler & Armstrong, 2020)
STEP1 - Understanding the Marketplace and Customer Needs

NEEDS: is a sensation of deprivation as well as also known as basically including something necessary
to live and function. The marketers are not unable to create these needs causes they are fundamental
human needs (Kotler & Armstrong, 2020).

WANTS: is a sort of human need shaped by culture and individuality as well as known as something
unnecessary but desired or items which rise the standard of living (Kotler & Armstrong, 2020).
 DEMAND: is the customer’s level of desire and willingness to purchase a product or service at a given
time period. When supported by purchasing power, wants become demands (Kotler & Armstrong, 2020).

MARKET OFFERINGS: Some combination of tangible products, services, information, or experiences

that are offered to the market to satisfy a need or want (Kotler & Armstrong, 2020).

MARKETING MYOPIA: The mistake of paying more attention to the specific products than to the
benefits and experiences produced by these products (Philip and Gary, 2020). Customers form
expectations about the value and satisfaction of market offerings. Satisfied customers buy again and
dissatisfied customers switch to competitors (Kotler & Armstrong, 2020).

EXCHANGE: Is the act of obtaining a desired object from someone by offering something in
return(Kotler & Armstrong, 2020).

RELATIONSHIPS: Marketing consists of actions taken to create, maintain and grow desirable
exchange relationships with target markets: attracting new customers and retaining customers as
growing the business(Kotler & Armstrong, 2020).

MARKETS: A market is a set of actual and potential buyers of a product(Kotler & Armstrong, 2020).

STEP2 - Designing A Customer-Driven Marketing Strategy

Selecting Customers to Serve – choose which clients to target as well as the level, timing and type the
demand (Kotler & Armstrong, 2020).

Choosing a Value Proposition – decide how it will benefit their clients-that is how it will set itself apart
and take that position in the market. A brand’s value proposition is the collection of ideals and
advantages that the company guarantees its clients. In order to offer themselves the biggest benefit in
goal, businesses need to create a strong value proposition (Kotler & Armstrong, 2020).

Marketing Management Orientations – to develop strategies that will engage target customers and
establishing profitable relationships with them (Kotler & Armstrong, 2020).

Five alternative concepts for designing a customer-driven marketing strategy:

 Production Concept: is operations-focused and predicated on the idea that customers would be more
drawn to goods that are easily accessible and can be acquired for less than similar competitive goods.
This mindset includes a risk but might be helpful when a business markets in a sector that is seeing rapid
expansion. Even if their products are affordable and widely available, companies who are too focused on
inexpensive production might quickly lose sight of their customers' demands and ultimately go out of
business (Kotler & Armstrong, 2020).

Product Concept: The purpose of the product concept is to manufacture cheaper products, as the
consumers will not be willing to pay high prices for these products or services. This allows businesses
that accompany the product concept to produce large quantities at lower costs, making them financially
successful (Kotler & Armstrong, 2020).

Selling concept: The mind set of modern consumers attracts through promotions, the consumers tend
to focus over the products and services which are aggressively promoted in the market (Kotler &
Armstrong, 2020).

Marketing concept: is about the need for businesses to focus on their target consumers in order to
deliver their products and services. In order to compete in the market, businesses need to offer value
that is above and beyond what their competitors are offering. This enhanced brand value will attract
consumers, who will then choose the business over others (Kotler & Armstrong, 2020).

Societal Marketing concept: This concept shows the major emphasis on the needs and requirements of
target consumers, so the consumers will prefer our brand over the other contemporaries in the market
(Kotler & Armstrong, 2020).

The marketing planning process allows a company to plan out the various activities and tasks required
to reach overall business goals.
STEP3 - Engaging Customers and Managing Customer Relationships

Customer relationship management (CRM) is the overall process of interacting with customers to build
long-term sustainable relationships. It related to all aspects of acquiring, engaging, and developing customers
group (Kotler & Armstrong, 2020).

Customer perceived value is the customer's assessment of the difference between all of the benefits and all of
the costs of a marketing offer in comparison to competing offers (Kotler & Armstrong, 2020).
 Customer satisfaction is the extent to which perceived performance matches buyer's expectations. Customer
satisfaction is based on how well the product meets the expectations of the buyer (Kotler & Armstrong, 2020).

Customer-engagement Marketing: fostering direct and continuous customer involvement in shaping

brand conversations, experiences, and community. The goal of customer brand advocacy is to make the
brand a meaningful part of consumers’ conversations and lives. This can be done by satisfying customers and
having them promote the brand favorably. Consumer-generated marketing involves brand exchanges create by
consumers themselves, either invited or uninvited. Partner relationship management involves working
closely with partners in other company departments and outside the company to jointly bring greater
value to customers (Kotler & Armstrong, 2020).

STEP4 - Capture Value from Customers

By creating superior customer value, the firm creates highly satisfied customers who stay loyal and buy
more. This, in turn, means greater long-run returns for the firm. Here, we discuss the outcomes of
creating customer value: customer loyalty and retention, share of market and share of customer, and
customer equity.

Creating Customer Loyalty and Retention: Good customer relationship management creates customer
delight. In turn, delighted customers remain loyal and talk favourably to others about the company and
its products. Studies show big differences in the loyalty of customers who are less satisfied, somewhat
satisfied, and completely satisfied. Even a slight drop from complete satisfaction can create an enormous
drop in loyalty. Thus, the aim of customer relationship management is to create not just customer
satisfaction, but customer delight (Kotler & Armstrong, 2020).

Growing Share of Customer: To increase share of customer, firms can offer greater variety to current
customers. Or they can create programs to cross-sell and up-sell to market more products and services
to existing customers(Kotler & Armstrong, 2020).

Building Customer Equity: Companies want not only to create profitable customers, but to “own” them
for life, earn a greater share of their purchases, and capture their customer lifetime value. Customer
equity is the total combined customer lifetime values of all of the company’s current and potential
customers. Clearly, the more loyal the firm’s profitable customers, the higher the firm’s customer equity.
Customer equity may be a better measure of a firm’s performance than current sales or market share.
Whereas sales and market share reflect the past, customer equity suggests the future (Kotler &
Armstrong, 2020).

2. The company – Hermès

Hermès is a French luxury goods manufacturer international company, founded by Thierry Hermès in
1837 as a harness shop in Paris. Its logo has had Duc carriage with the horse since 1950. Hermès has
iconic status in the world of luxury. Hermès has fourteen product divisions that are leather, ties, scarves,
men’s and women’s wear, perfumes, watches, gloves, footwear, tableware, decorative arts, stationery,
jewellery, and enamel wear (Hermès, 2022).

Hermès is owned by two brothers Pierre-Alexis and Axel Dumas. Both are co-chairmen of the brand. Axel
Dumas is the Chief Executive Officer (CEO), and Pierre-Alexis is the company’s creative director, whose
father, Jean-Louis, revolutionized Hermès, growing it into an international luxury retailer (Hermès, 2022).

(Hermès, 2022)

2.1 The marketing process of Hermès

The company’s marketing strategy outlines which customers the company will serve and how it will
create value. Then the marketer develops integrated marketing plans that will the intended value to
target customers. It consists of the firm’s marketing mix (4Ps), the set of marketing tools the firm uses to
implement its marketing strategy.

Hermès is a famous French luxury brand. Hermes' success as the world's leading luxury jewelry business
is heavily reliant on its marketing strategy mix made up of factors under its control-product, price, place,
and promotion (the four Ps of Marketing Mix) (Wang, 2021).

Product: – The products Herma Family is making or are in the pipeline to capture potential markets.
Hermes Paris offers a diverse product offering. Hermes Paris offers undifferentiated mass-market items
for all market groups. Hermes Paris also offers several luxury items to specific consumer group, their
main product are handbags and made from a highly valuable raw material-leather. All of the goods in the
range are dependably of excellent quality. In addition, Hermes has strict rules about who can obtain its
renowned bags, there is a lengthy waiting list that can extend up to 6 years and even getting on the
waiting list is challenging since customer rating is based on prior purchases. All items are customized to
match customer standards, desires, and needs in various geographical marketplaces. Hermes maintains a
high focus on innovation in products and introduces new products frequently (Wang, 2021).

(Hermes, 2022)

Pricing –Pricing strategy that Herma Family is pursuing in various customer segments it is
operating in. Hermes Paris prices its items so that its target buyers may easily afford them. For its
items, Hermes employs a relative pricing approach. The price of Hermes’s products include not only the
high quality raw materials and value additions but also the enhanced customer experience they deliver.
For instance, a basic Birkin costs $800 to produce, while the most expensive selling for more than
$300,000 and is sold exclusively with no discounts, so it piques clients’ interest in purchasing the product
causes higher prices mean higher quality and satisfy the exclusivity mindset of consumers of luxury
products. The company's pricing approach enables it to achieve consistent sales and profit growth
(Wang, 2021).

Total revenue of Hermes worldwide from 2007 to 2020 (Wang, 2021)

Place – Sale channel- – Distribution mix of Herma Family has taken a new dimension with the
emergence of Online Retailing & domination of players such as Amazon. Hermes desires a strong,
emotional, and intimate relationship with its clients. The corporation maintains tight control over its
distribution techniques, particularly through direct distribution. The company is present in major
supermarkets. Hermes also maintains company-operated storefronts in malls and elsewhere to make
things more easily available to consumers. E-commerce is also used by Hermes to expand penetration
and sales with billions of dollars in annual revenue each year, in which the success of an online sales
platform is not achieved in short period time, it takes years and years of building and practice (Wang,
2021).
 Hermes stores worldwide (Hermes, 2021)

Promotion –The emergence of social media and online advertising has changed the landscape of
Herma Family communication mix and communication strategy. Hermes' most important selling point is
that it does not spend a lot of money on advertising its products, which is something that other luxury
brands typically do. They have no spokespeople/brand ambassadors to promote their products for
further marketing purposes. Hermes' marketing strategy is affected by the positioning of its products.
Hermes is a high-quality, unique brand that doesn't need to rely on the same sales volume as other
brands. This makes it a desirable choice for luxury buyers. Hermes also engages directly with consumers
through trials. Hermes also invests in traditional media channels in order to reach maximum consumers
(Wang, 2021).

2.2 The Marketing Roles & Responsibility

2.2.1 The micro environment

The company: Hermès is a French-based international company that was established in 1837. It has
300+ production units across France, Europe, Asia, America, and Asia-Pacific and has more than 15000
employees, and it has revenue of 8982 million euros in the year 2021 (Hermes, 2021). Hermes has a strong
brand image, global distribution network, investment in market research and innovation which makes it
one of the biggest strengths of the company.
 (Rascouet, 2022)

The suppliers: Although, there are plenty of suppliers that provides product material that
luxury fashion brands needed, those brands cannot easily change to other suppliers due to price
increase. Because, the current suppliers were already understood the quality of materials that
meet the brand’ standard. For Hermès, this has been stated in its Informations Financières. It
performed audit to suppliers to make sure, they are able to fulfill the brand’s high standard.
However, Hermès realize its lower their bargaining power of suppliers. That is why, Hermès
established supplier diversification policy to reduce the dependence and increase the bargaining
power (Hermès International, 2021). Thus, the bargaining power of suppliers towards Hermès is
moderate. In addition, Long-term supplier relationships bring close cooperation and long-term
agreements that are benefit for both parties (assets-finance Hermes, 2020).
 (assets-finance Hermes, 2020)

The Marketing intermediaries: Intermediaries play an important role in assisting companies

with manufacturing, distributing goods to agents, advertising, financing, or human resources;
they are also considered distribution networks. distribution of corporate value . Namely,
resellers in Hermes, Resellers in hermes in the genuine sales web, they promote the
brand and promote the brand through social media campaigns, typically instagram
posts, know how to turn products to meet market needs, convenient buy and sell
under separate agreements, bringing value, image and revenue to businesses in the
business segment on electronic platforms as well as social networks (Sudha, 2020).

The competitors: Hermes falls into the category of high-exclusivity and prestigious pricing. The
top competitors of the brand include Louis Vuitton, Chanel and Dior (assets-finance Hermes,
2021). These brands are considered top competitors with Hermes as they offer a similar range of
products and have consumer bases that seek high quality, high end products from more prestige
brands. However, the superior craftsmanship and level of detail that go into each of their
products sets Hermes apart from its competitors .
 Customers: Hermes' target customers are fashion-obsessed young adults and teenagers.
Customers of Hermes expect high quality, useful features, and excellent after-sales service from
their products. Hermes buyers tend to have high incomes, so they are unlikely to be concerned
about high prices. In addition, they increase the value of their products through customer
experiences, feelings and comments. Customer is one of the most important actors in micro
environment at business.

Publics: One of the biggest influences in micro environment on Hermes relate to

public is the government public. They have an impact on the Hermes’s operating
policies, specifically the business law, social security, and essential services that
businesses must follow in order to survive, in which this includes the portions of
profit after tax that will be reduced as a result of having to split them up to serve
those purposes of public’s policies. Furthermore, they provide capital to businesses
through state credit institutions, then they analyze, assess risks and announce to
enterprises to research and respond. For evidence, Hermes is support to research
the audit with aim at analyzing the economic and evaluating risk business
environment by the Federal Government (Hermes cover special, 2020).

2.2.2 The macro environment

Political: Navigating through political factors is important for brands like Hermes, as it operates
at a global level. Therefore, not only must Hermes consider the political environment of the
country in which it was founded, but the environment of the other countries it operates in.
Currently, Hermes is thriving in a stable market with many opportunities for growth. However,
political tensions in these varying countries may affect the success of Hermes by restricting
growth opportunities. Other factors to consider include differences in government systems,
trade restrictions, tax laws, and more.

Economic: While Sales at Hermes' handcrafted leather goods division that account for nearly
half of total sales fell 5.4% in the fourth quarter of 2021 (Aloisi & Spencer, 2022), it has been
touted as one of the most resilient brands overall, along with Ferrari. Hermes is already
experiencing growth despite how the pandemic is affecting shoppers' habits across the globe.
Their focus on excellence and exclusivity has served them well during periods of economic crisis.
Additionally, the target audience for prospective purchasers is much less affected by economic
difficulties than those with less wealth. Therefore, the volatility of the economic affects Hermes
less.

Technology: Hermes has been almost exclusively in favor of in-person shopping at their 800 plus
stores around the globe (Hermes, 2021). However, the pandemic and limited travel
opportunities for many caused them to open the option for more online access. Chief Financial
Officer Eric du Halgouet told reporters on a call "There's no cannibalization" between online and
physical stores, and that 85% of online transactions are from new clients (Angelina, 2020).
Hermes' strategy is to expand the online offer progressively, except for iconic products like the
Birkin bag, Flalgouet said. The upside of this is obviously the use of technology to invite more
customer access. The downside is that more access equals less exclusivity. If transactions are
made online, Hermés cannot guarantee the personal customer service that is part of their brand
expectation.

Demographic: Hermès' current customers are high-profile, wealthy individuals who include
celebrities, elitists, royal families, and others. These are mature men and women aged 25 and
up, with a high level of income and financial security. However, the target market could shift as
demand for Hermès products has grown over time, with middle-class consumers purchasing
their products and Gen Z (born between 1997 and 2012) generation’s demand for luxury brand
goods.

Natural: Animal rights organizations are constantly scrutinizing and attacking Hermes and
other ocher luxury companies. Most recently, Hermes has been chastised for its plans to create
a big crocodile with over 50,000 animals breeding facility in order to increase access to exotic
skins (Gayle, 2020). Their leather products are threatening global animal conservation.

Cultural: The social aspect of luxury brands is focused on the exclusivity of their products.
Hermes is already quite exclusive, so they handcraft many of their products which gives a
limited-edition perception. This makes the brand that much more exclusive and valuable to the
people interested in the feeling that this exclusivity provides them. While Hermes took a serious
hit due to the pandemic, they are recovering well at this point. In fact, the fact that Hermes had
to shut down and transition to more online business has created new customers for them that
they were not reaching in person prior to this pandemic. Also, due to the pandemic, production
was shut down for a period of time. This has created a niche for products that makes them even
more exclusive right now. On the other hand, there is a large portion of society that is becoming
 more focused on experiences rather than material items. More people are spending their extra
money on trips, which would mean less money to buy exclusive products. This is happening as
we move through the pandemic, and it may be further enhanced by people realizing the
importance of getting to participate in these outings after they have been restricted from it.

2.3 How Marketing function influences and interrelates with other functional
departments

The marketing division of Hermes has important responsibilities. It is in charge of introducing new
products for public, researching trends, suggesting the creation of distribution channels, and developing
strategies and plans to deploy marketing programs in accordance with the company’s vision, mission and
goal (Kotler & Armstrong, 2020).

The marketing functions are closely linked with the other functional units of business organizations.

The relationship between the marketing function and human resources (HR)

When marketing and human resource work together, they both benefit from the collaboration. These
leads benefits for employees, consumers, and potential employees. For human resources, it is a part in the
marketing process with an important mission to recruit employees with the skills necessary to work within
the working styles of the business, satisfy the strict requirements of the marketing department, providing
for the balance between the marketing department and other departments or finds human who is the best to
promote and build the brand. For the marketing department, collaboration with human resources allows
them to create job descriptions, classify candidates, design curricula, and establish reward system, besides,
they create and deliver the brand message to employees for them to contribute market, customer,
directions and the success for Hermes. These two departments are also closely linked. For instance, in
Covid-19 in China, Hermes had difficulties in social distancing in China but personnel and functions,
specific in human resource and marketing function, launched campaigns, recruited the skills people to
help promote brand and image of Hermes company, collab to improve the service staff and customer care
on the sales-e-commerce page of the company with aim of increase the revenue of company (Achim,
2020).

The relationship between the marketing function and financial function

The relationship between marketing and finance is debatable one of the most essential within any
business, especially, the growing of Hermes in present and in the future. For finance, it ensures that
business operates within its financial capabilities, more focused on cash flow, costs and paying back
investment. The finance department has unique into clients, products or services, so they can use this
knowledge to help the marketing function create more targeted and lucrative campaigns. In addition, in
Hermes’s campaigns to promote new products, the finance department has the role of providing marketing
expenses in researching and analyzing market, supporting money for advertising campaigns such as
inviting celebrities to represent, making logos and distributing leaflets, … For the marketing function, the
role of marketing is to attract customers to Hermes and develop an interest Hermes’s products. They will
ensure the products and services that meet the wants and needs of customers. Therefore, it is a channel to
raise capital and increase revenues for finance as well as the business. These two departments are a
reciprocal relationship. For instance, in Covid-19 pandemic, although a shabby advertisement budget,
marketing function attracts a huge client, so it is a part to lead to contribute to a big revenue generation for
financial function as well as Hermes company (Ryan, 2021).

The relationship between the marketing function and top management

The relationship between marketing function and top management is a very strong and supportive
relationship in the working process. In concept marketing, the marketing function in Hermes identifies
what customers need and wants from a product or service, then continues by producing with the
appropriately defined qualities, determines the pricing based on market dynamics, promotes the product
and finally stocks the product of sale. Of course, the marketing process cannot be efficiently
accomplished without policies, plans for particular initiatives, steps, and directions, which are accurate
and suitable for the market. Therefore, top management will provide visions, strategies, and direction
decisions for the marketing function. Moreover, marketing function is influencing the hearts and minds
of potential customers to trust Hermes and take action on Hermes’s product for their betterment as well
as mainly inspires potential customers to believe in Hermes’s product and Hermes’s company. Then the
top management is influencing the hearts and minds of employees in marketing function as well as other
functions to trust Hermes’s personally and take action as a united team for the betterment of Hermes
company and themselves. In addition, the results of the market survey by marketing function will
contribute to the business decisions of top management. For instance, in Covid-19 pandemic, marketing
function made reports of the market and realized the increasing demand for medical antiseptic
solutions, this report gives top management a better view of the market, they decided to use its 42 sites
in France, with a perfume factory convert to produce hand sanitizing gel instead (Aloisi, 2020).

In conclusion, marketing is not a solely the responsibility of the marketing department. It is a concept
that must be implemented throughout the entire business. The marketing strategy must be consistent
across all levels of the organization. Creating a successful marketing strategy requires cooperation with
other departments.

2.4 A critical analysis of the most significant influence marketing environment factor to
the company

III-Conclusion
Hermes is French origin luxury fashion brand that has operate for almost 185 years. With its family and
independent management, Hermes managed to expand its operation to global scale. Now it has more than
311stores and thousands of employee. The external analysis towards the firm revealed that there are
various of factors in the macroeconomic level or industry level that can influence the operational aspect
of Hermes. But, it can be addressed, if Hermes able to understand its internal condition and revise the
strategy to enhance the resources and capabilities to face the competition and sustain the business for
years to come. It seems that Hermes still had promising future in 10 years ahead. However, the future is
better in Asia compare to Europe, as Europe market already saturated. To sustain the business in 20 – 30
years, Hermes should adjust to Generation Y, as this generation will dominate the market.
IV- Reference

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