Hennes & Mauritz AB (operating as H&M) is a Swedish clothing company, known for their inexpensive and fashionable clothing offerings mainly for men and women 18 to 45, children's apparel, and its own brands of cosmetics. The company designs cheap but chic clothing. It was established in Vsters, Sweden, in 1947 by Erling Persson, though at the time it only sold women's clothing and was called Hennes, Swedish for "hers." In 1968, Persson acquired the premises and inventory of a Stockholm hunting equipment store named Mauritz Widforss. Included in the inventory was a supply of men's clothing, prompting Persson to expand into menswear. Accordingly, he renamed the store Hennes & Mauritz, later abbreviated to H&M. H&M has more than 1300 stores in 29 different countries with direct sales operations in selected areas and has more than 50,000 employees (H & M ,1998, Economist , p10)
According the traditional views, marketing is the process by which goods are made available to the consumers by the manufacturers. Thus the traditional concept of marketing focuses merely on the physical process of distributing goods and services.
According to modern view, marketing consists of sensing, stimulating, servicing and satisfying the needs and wants of present and potential customers in more effective and efficient manner than ...Show more