Marketing Report of Burberry

INTRODUCTION

Marketing refers to the process of promoting and advertising the products, services or brand in order to attract the customers. Marketing is very essential for the business firms in achieving sustainability at the marketplace. Through proper marketing techniques and strategies, organisations can retain their customers from going anywhere else for purchasing the products and services. The taken firm for this assessment is the Burberry which is a UK based fashion retailer providing a wide range of products and services to the customers in different countries. This report will explain the roles and responsibilities of marketing function which are performed by the marketing function of respective organisation. Further interrelation of marketing department with the other functional units of the organisation will be discussed. This report will also cover the comparison among the marketing mix of two different organisation of same sector in order to determine their competitiveness. This report will also develop a marketing plan for the firm in order to accomplish their desired goals and objectives within the determined time period.

Activity 1

Key roles and responsibilities of marketing as a function

Burberry is a global firm which is operating its business operations in more than 51 countries throughout the world. In order to successfully run the business throughout these countries, marketing department of the company is contributing its maximum efforts. These efforts are useful for the firm in retaining and attracting new customers through which company can sustain in the marketplace for a longer duration of time  (Pike, 2015). The marketing department of Burberry performs several roles and responsibilities as a function of organisation so that combined efforts can be proved useful in achieving the organisational goals. Some of these roles and responsibilities of marketing function of Burberry are as follows: Preparing marketing budget: The marketing function is responsible for preparing the marketing budget of the organisation in order to carry out marketing work effectively. The marketing managers perform the role of determining the future situations and estimating the budget for marketing activities so that marketing strategies can be executed effectively. The marketing department of Burberry predict the future situations which can hamper the marketing and promotions of products. Through this, they are taking better decisions and developing the strategies accordingly in order to prepare and implement the budget accordingly. Publishing job vacancies online: The marketing department is also responsible for promoting the job vacancies of the organisation so that suitable and skilled candidates can be attracted toward the vacant position. This is essential for the firm in hiring skilled and knowledgeable candidates who are efficient and effective in their work.  The marketing function of Burberry is performing this role due to which experienced candidates are hired by the organisation which are contributing in the growth of the firm  (Simkin and Dibb, 2013). Developing marketing plans and strategies: The marketing function is also responsible to prepare the plans and policies for performing the marketing activities. Through these plans and strategies, marketing department can carry out their work with required efficiency and within the pre-determined time frame. The marketing function of Burberry determines the future situations by conducting market research through which the budget and policies for marketing activities are developed.

Interrelation of roles and responsibilities of marketing with other functional units

Marketing department of Burberry is performing its activities and operations in an effective manner by taking the help from other departments. This coordination enables the firm in achieving high sales and growth as combined efforts of different departments are contributed in the business activities. The marketing department of Burberry is coordinating with other functional units such as Human Resource, Finance, production etc. for ensuring the customer satisfaction. This interrelation of marketing department with other functional unit of organisation is as follows: Marketing with Finance: Finance department of Burberry is responsible for managing and monitoring the budget allotted to different unit of the organisation. Whereas marketing department of Burberry is conducting the market research for determining future situations and trends in the market  (Blythe and Martin, 2019). Through this, marketing department develop the estimated budget for future activities which is provided by the finance department. Finance department also provides the funds to marketing for purchasing the licenses of digital marketing tools and machinery through which marketing department can execute the marketing activities in an appropriate manner  (Ogunmokun and Hsin Tang, 2012). Marketing with Production: As discussed before, the marketing department of Burberry is conducting market research for determining the future situations or trends in the market. The marketing department also determines the latest technologies and methods which can be used by the production department for developing higher quality products. The marketing department identify new trends in the production process and convey these to the production department. The production department with the help from finance department purchase and implement these trends for improving the quality and efficiency of products. Through this interrelation, the marketing and production department of Burberry are providing the products to customers for ensuring their satisfaction  (Joshi, 2012). Marketing with Human Resource: The human resource department of Burberry perform the role of hiring the efficient and effective workers in the organisation. The HR department provides the job specification and person specification to marketing department which promotes the job specification and person specification on various job and online portals such as Indeed, monster job, Facebook, Twitter etc. in order to attract the customers from different areas towards the offerings of company.

Significance of interrelationship among the different departments

The interrelation of different department with marketing is of very significance to the Burberry. Due to this interrelation, the Burberry is enabling to hire the suitable and skilled candidates in the firm which are carrying out their work effectively for attaining the organisational goals. Also the production department of the Burberry is effectively performing its operations due to the implementation of new techniques and methods in the production process. The finance department of Burberry is monitoring the funds allotted to different department as well as assigning the funds to marketing department properly in order to carry out the marketing activities and work appropriately  (Lipsman, Mudd, Rich and Bruich, 2012).

Evaluation of key element of marketing function

The marketing function has different elements through which Burberry can attain their desired organisational goals. These elements ensure consistent marketing activities of company for attracting the customers. These elements are as follows: Research: Marketing department of the Burberry conduct market research for determining various things. These things includes the message which should be delivered by the company to customers, suitable channel for marketing, positioning strategies, targeting strategies etc. in order to perform the marketing activities in proper manner. The information gathered through market research is beneficial in developing proper and suitable strategies. However the cost for company will increase for conducting the market research which can be reduced by setting an additional department. This additional department will only conduct the market research for fulfilling the organisational needs and requirements (Mihart, 2012). Strategy: After conducting the research, marketing department of Burberry develops the marketing strategies regarding targeting the customers, segmenting the customers, positioning the products, advertising and promotional activities etc. The marketing department also select the strategies which will be implemented at the workplace for performing the organisational activities. Basically, strategies determine the vision, mission and goals of the organisation so that it can determine the position at which the company wants to be. The strategies are developed by considering the future situations and possibilities. However the marketplace is dynamic in nature due to which there are chances that the developed strategies of marketing activities may not be aligned with organisational strategies. For this, the company needs to develop the marketing strategies in such a manner that these strategies compliment the organisational strategies. Planning: After the development of the strategies, next element is planning in which the marketing department of Burberry develop the plans for implementing the strategies appropriately. The planning includes sales forecasting, financial planning, communications strategy and various other benchmarks through which the goals and objectives can be achieved. The marketing department of Burberry also monitor the strategies and planning for determining whether these are executed in proper manner aligned with organisational strategies or not. The marketing department also monitors the timeline of activities for ensuring the timely execution of the activities. However, long term planning is risky for the Burberry in the dynamic market environment due to which company can develop the short term plans which should stay heterogeneous in the run  (Fırat,  2013). Tactics: These are the short term goals of the organisation which should be formulated for attaining the long term goals and strategies of the organisation. Marketing department of the Burberry is implementing various short term policies for attracting the customers, beating the competitors, increasing the sales, providing better value to the customers etc. The company is implementing the policies such as discounts on price, reducing the prices in festival season, Buy 1 get 1 free etc. through which the sales can be enhanced. However, the profit margin of the company will decrease after decreasing the prices due to which company is also providing subscription to the customer for availing these offers in order to enhance the profit margin. Through these elements, marketing department of the Burberry is executing its roles and responsibilities effectively as the plans and strategies are developed based on the evaluation which ensures the success and growth of the company. Through these elements, the marketing department is effectively retaining and attracting the customers so that firm can sustain in the market in future time period  (Khan and Adil, 2013).

Activity 2

Comparison of marketing mix of two different organisations

Marketing mix is a strategy which a company uses to promote its brand or product in the market. In reference to Burberry which is a famous luxury fashion house was founded in the year 1856 by Thomas. It is the one of the few iconic brand which is dealing in clothing, accessories, cosmetics, and many more  (Papasolomou and Melanthiou, 2012). For accomplishing its goals within the market it serves, they adopt various marketing mix strategies. These strategies have helped them in maintaining their markets and can defend from their competitors. Burberry has to face very tuff competition with Gucci, Louis Vuitton, Chanel, Dior, and many more. Detailed about Burberry and Gucci marketing strategies has been mentioned below:-

Elements	Burberry	Gucci
Product	A product is a substance that is manufactured for sale. It can be a service or an item which is offered to a market to satisfy the need of a customer. In Burberry, which is known for its smart thinking is dealing in that products which is accomplished with high quality, style, and durability along with its complex designs is what makes this brand for the best products in the international and national market.	Gucci gives to Burberry a tuff competition in the market. It is also dealing in the fashion industry. The reputation of all its products is unique and also high quality of these products is remarkable hence it has been able to keep its clutch firm on the market even in this difficult times. This company attracts customers by the designs and higher quality of its products which is the main reason for high sales of its products  (Baker and Magnini, 2016).
Place	It is a very crucial point in the marketing of a product. In every industry, customers mostly come where they can reach easily. Burberry stores are situated in all around the world almost in fifty countries. It has covered a vast market area and their products are also sold through global franchises. As it is luxury brand, so if some famous shopping sites want to sale their products have to take licence for selling their products.	It has been successful in all regions around the world because of its high class products. It also has franchisees with high profile stores and it has an official website from where customers can easily purchase products. Gucci outlets are situated in the supreme locations includes London, Paris, new york, Rome, and many others.
Price	As Burberry is dealing in luxury products with excellent craftsmanship and innovative designs, so it has to be keeping premium price of its products. It is dealing in both luxury and global brand hence its price have to be equivalent all around the world.	Gucci has dealing in superior quality so that is the main reason for their prices are premium. Moreover, Gucci is a high class brand so no matter what how high prices are people are still pleased to buy its products.
Promotions	It is a tool for creation of awareness about the product through different channels that are Advertisement, Public relation, sales promotion etc.  Burberry uses promotional strategies like multiple media channels, social media platforms, and many others. It also take part in various trade exhibitions and events around the year  (Muralidharan and Raval, 2017).	Gucci has covered a vast area in the market, by adopting these marketing strategies they can get more success. These strategies include social media, printouts, magazines etc. Furthermore, it has its online store and app from where customers all around the world can easily purchase their products.
People	It refers to the company employees working for the organisation. In Burberry employees have been trained in persuasive techniques for how to improving products quality and also for resolving the customers issues.	As it is a luxurious brand it trained its employees with integrator techniques that how to deal with customers and how maintaining and improving the quality of the products.
Process	Process is a way that shows the system used in sales funnel, distribution system and other systematic process which check that business is working effectively. For satisfaction of the customers, Burberry uses an efficient standardised sales process couples with high quality customer service.	In the case of Gucci, it do efforts to replenish its stock by installed a system from where retailer can easily notify when their stock levels are low. Moreover, it has also online delivery process, online app, and websites where orders are accept in the computer system and move to the delivery service provider.
Physical evidence	It is a place where services are delivered and concern the way by which product is reprieved in the market. In Burberry, they sell its products in a well-defined packaging that easily acknowledgeable on retail venues. It also has online websites from where every customer can view its products.	Gucci has its own websites, app, and stores at various places where customers can easily find Gucci products. Hence, Gucci is a luxury brand so customers can easily find their own Gucci stores in several countries.

Tactics applied by Burberry for accomplishing the goals

Burberry is applying the segmentation tactics for achieving their organisational goals. For segmentation, the company determines the different types of potential customers and divides them based on their needs, demographics etc. After dividing the customers, company determines their needs and requirements in order to fulfil them through the products of the company. Burberry is also using the social media marketing for the promotion and advertisement of their products so that a large number of customers can be targeted which then can be converted into the customers  (Wirtz, Tuzovic and Kuppelwieser, 2014). The company has also developed smart objectives for achieving their organisational goals. Burberry is providing training to the employees so that they can achieve the organisational goals in an effective manner. However, the tactics applied by the company are costly and time consuming due to which company can face issues such as financial and delay in execution of project which will impact the profitability and productivity of the company.

Activity 3

Basic marketing plan

Marketing Plan:

It is a written document which outlines the marketing strategies might be for short or long term. It involves all the activities such as advertising. Publicity, public promotion etc. to achieve marketing objective within a specific time. The marketing plan provides references to the marketing activities in overall planning period and provides rich information and detailed discussion to managers. Marketing plan shows to investor that how company will grow and how they will get return. This plan will be covering on Burberry  (Nicholls and et. al., 2013).

Overview of company

Burberry group is a British company includes luxury fashion house and their headquarter is in London, England. They currently sell trench coats, ready-to-wear outerwear, fashion, accessories, fragrances, sunglasses and cosmetics. Their focus in on outdoor attire includes gabardine which is breathable and waterproof. Now, this company is launching a new product from different industry which is Footwear for men and women. The brand will produce footwear of its own name. The range of footwear will be counter fort, buckle, heel, hook, sleepers, shoes which includes Ballet flats, athletic shoes, galoshes and lace up shoes. The focus of company is to provide comfort to the customers and taking brand to large variety of product.

SITUATION:

SWOT of Burberry Footwear

STRENGTHS	WEAKNESSES
This brand is an iconic brand and has built up faith in the brand which make acceptance of Burberry footwear easy. This brand is established globally and has more than 500 stores which result in easy distribution of new product in larger area. The company is engaged with the community which help them in analysing the target audience who are interested in product.	This brand always focuses on comfort and has premium range of price which results in lack of innovation. The ranges of product offered by Burberry are limited and do not provided choices to customers. The market share is not much wide because of high competition which may result in loss in investment in new product.

OPPORTUNITIES	THREATS
The Burberry provides premium product demand will increase due to change in the taste & preferences and high demand of premium goods. It is launching a product which will make them ahead of their competitors.	Gucci, Louis Vuitton & Prada are the serious competitor of this brand which is a threat for company. This brand has a threat that the product may get copy and sold into market with the name of company brand.

OBJECTIVES:

SMART

It is a tool use to set the goals of company. Its criteria is mentioned by Peter Drucker's Management by objective concept, To get clarity about goals, this tool is used and the brief explanation of this tool in relation with new product of Burberry-

• Specific- The company new product which is Burberry footwear has their specific goal to achieve which is gathering highest market share to earn more revenue and for this marketing department is working by using the financial resource.
• Measurable-  The Burberry Footwear has standardised their goal to measure progress.  The company has formed a plan to attain 60% of market share as a standard for which efforts to be made to make it equal with actual result.
• Achievable- The goal of Burberry footwear will be achieved through by making plan to market the product and huge fund need to be invested in promotional activities such as advertising in mass media and social media.
• Relevant- The Burberry goal to capture market share is relevant to Burberry as it increases their market position among their rivals for longer period of time.
• Time-bound- The goal of Burberry has a specific time limit to be achieved which is 6 months, the whole marketing plan should work in accordance with that specific time limit whereas there is a specific short period for short term objective.

STRATEGIES:

STP analysis

• Segmentation- It refers to customer dividing into different segments by common features and requirement. Different segments are demographic, geographic, psycho graphic and behavioural. Burberry has segmented men and women whose age between 20-40 and covered almost 50 countries where large number of premium customers are present and they are loyal with the brand.
• Targeting-  It refers to identifying segments where customers are ready to pay for the product by analysing the potential of every consumer group to get the answers about its credibility and carefully analyse that how the company can serve to the targeted customer. Burberry targets the customer who will provide more profitability to firm by analysing each segment which we have divided and comparing the profitability and targeting that segment.
• Positioning- It defines the position that company want to achieve against of its competitors to target valuable customer who bring profitability to firm and analyse the benefits you can deliver to customers to attract them by analysing the needs of customers. Burberry defined unique feature of the product which is providing heel with no pain in it will make the Burberry ahead of its competitors.

ACTION PLAN:

Burberry is allocating to make their new product more successful in the market within shorter period of time. The budget amount can be used for different purposes such as buying of raw materials, adoption of promotional tools, recruitment of employees etc.

The 4 p's of Marketing

• Product- The nature of product of Burberry is tangible which is a footwear manufacture and distributed by Burberry. The focus of Burberry is to make product which provide comfort to the feet and to make heels with low pressure required.
• Price- The price of Burberry has always been in the premium range and this product is also focussing on premium consumers as they are providing innovative design but they are forming strategies to provide offers to maintain the price stability to attract more customers.
• Place- The Burberry contain several stores over the world like almost in 50 countries and they will open their own more separate retail stores to distribute their new product and also through famous shopping sites they are distributing the product and same with the new product.
• Promotion- The Burberry promotes their product through Multiple media channels, social media platforms, advertising in newspapers and many more ways they have adopted. They will launch the product by organising a big event where proper marketing will be done.

Cost: Cost for the production of new product is discussed below:

Particulars	Amount (€)
Marketing	100000
Workforce	100000
Equipment’s	150000
Raw materials	150000

  Sales: The management of Burberry is expecting to generate double digits in the sales revenue of the products sold by the company. Profit: The marketing manager is estimating 20% increment in their profit after launching its new product into market. Market share: The company is estimating that 10% of more market share will be captures by introducing new product in the market.

Control

For controlling the activities of organisation, management of the Amazon has decided to use the measurement tools such as Key performance indicators. Also the firm will compare the past performance with present performance in order to determine the growth or success of this new product. The management of Burberry is decided to use Key Performance Indicator as metrics in order to measure their performance level. In addition with this, the company compares their past performance with present performance to achieve growth and success of its new product.

CONCLUSION

It has been concluded from the above report that marketing department in business firms is responsible for attracting and retaining the customers. Through this, the firm can achieve sustainability at the marketplace along with the increment in profit and sales. The marketing department perform several roles and responsibilities which are executed through the coordination with different functional units of the organisation. This coordination allows the marketing and other department to fulfil the needs of each other for attaining the organisational goals. Comparison of marketing mix allows the firm to determine their competitiveness in the market place through which they can enhance their sales and profit. Marketing plan allows the firm to achieve their future goals effectively by carrying out the activities according to the marketing plan.

REFERENCES

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