Accounting & Financial Management Report 2022

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Running head: ACCOUNTING & FINANCIAL MANAGEMENT
Accounting & Financial Management
Name of the Student:
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3ACCOUNTING & FINANCIAL MANAGEMENT
Table of Contents
Financial Marketing Plan 2
Recommendation 5
Reference 9
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3ACCOUNTING & FINANCIAL MANAGEMENT
Financial Marketing Plan
Burberry Group PLC is a fashion company that sells mostly fashionable coats to its
customers. These coats are readymade and available on different sizes. Burberry Group PLC
also sells different other products like fragrances, cosmetics, and sunglasses (Samiee and
Chirapanda 2019). As per the financial report 2019, the company earned a total revenue of
£2,720m which is a decrease in the revenue from the year 2018 where Burberry Group PLC
had earned a total revenue of £2,733m. It has been seen that Burberry Group PLC has earned
a positive revenue of £2,186m from its retail department that is from its own stores. Burberry
Group PLC has earned £488m from selling in wholesale (Chaffey and Ellis-Chadwick 2019).
While Burberry Group PLC had earned a revenue of £46m from the licensing sector. So,
Burberry Group PLC must concentrate more on the retail sector in its industry. Burberry
Group PLC must increase its production for the retail sector (Kingsnorth 2019).
Again, Burberry Group PLC has earned a revenue of £612m from the Americas
region, £958m from the EMEIA region and revenue of £1,104m from the Asia Pacific region.
This is due to the face that it has most of its stores in the Asia Pacific region. Burberry Group
PLC has 194 stores there. On the other hand, Burberry Group PLC has 95 stores and 142
stores in the Americas and EMEIA regions respectively (Morgan et al. 2019). Again,
Burberry Group PLC has earned a revenue of £1,013m from selling fashion accessories,
£837m from women’s fashion product, £698m from Men’s fashion products, £120m from
children and £6m from beauty products (Key and Czaplewski 2017). So, Burberry Group
PLC must increase its production of fashion accessories and for women’s fashion products as
it will fetch high revenues for the company. Burberry Group PLC is recognized as a luxury
brand throughout the globe. Burberry Group PLC fashion a British attitude in clothing and
accessories. Burberry Group PLC has several stores across the globe (Hult and Ketchen
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3ACCOUNTING & FINANCIAL MANAGEMENT
2017). These stores include both that are owned by Burberry Group PLC and also the stores
that are licensed by Burberry Group PLC to sell their products. Burberry Group PLC uses the
strategy to directly interact with the customers of the company (Olson et al. 2018). These
customers generally prefer to purchase the luxury products that are sold by Burberry Group
PLC. So, Burberry Group PLC has a very good sales base. Burberry Group PLC uses modern
technology in all aspects of its day to day business from designing the products of Burberry
Group PLC to distributing them to the appropriate customers and stores across the globe.
Burberry Group PLC uses social media and other digital media platform to market its
products (Zhang and Wang 2019).
Burberry Group PLC uses various innovative technologies to print its image and
media. Burberry Group PLC must increase its assets like the stores and the technology that it
uses to increase the revenue that it earns. Also, Burberry Group PLC must consider allocating
more of its resources to increase the number of stores in areas that have people that prefer
luxury products. Burberry Group PLC sources the material that it uses in the production of
the clothes and accessories with the primary criteria that they are the best in quality. But,
Burberry Group PLC along with the partners of the company helps in the betterment of the
society and the environment. Most of the manufacturing centers of Burberry Group PLC are
located in the UK and in Italy. These manufacturing centers helps to maintain the quality of
the products of Burberry Group PLC. Burberry Group PLC uses a policy for zero wastage in
the production process in the company (Patrutiu-Baltes 2016). This will reduce the waste of
the company and will help in increasing the operating profit of the company. Burberry Group
PLC has its stores in various locations of the world that are most popular for fashion trends.
Burberry Group PLC also had sold some its products through the use of e-commerce websites
and also its own website.

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Burberry Group PLC distributes its products throughout the world with the help of the
different stores that it owns and is licensed to sell its products. Burberry Group PLC also uses
the third party technology providers to enhance its distribution channel. Burberry Group PLC
uses digital media to serve its customers from the point when they make the purchase of the
product to providing customer service to them for maintaining the product. Burberry Group
PLC has different methods by which it reduces the impact that its various processes like
supply chain has on the environment. Burberry Group PLC has the motive to produce and
distribute the highest quality products to its customers across the globe. Burberry Group PLC
needs to increase the sales of the company to be able to increase the revenue and the profit
percentage of the company. There has been an increase in sales in the luxury market in the
year 2018. This increase was by five percent and was in the year 2018 as well as in the year
2017. There has been an increase in the number of Chinese customers who now prefer luxury
products. There has also been an increase in customers who are youngsters. Although there is
an increase in the demand of the customers for luxury products there also a rise in the
expectation of the customer of Burberry Group PLC. The customers of Burberry Group PLC
now expect a very high level of service to be provided to them at the stores. The young
customers, as well as the existing consumers of Burberry Group PLC both, expected the
products to be very innovative and make them look very fashion-forward.
The consumers of Burberry Group PLC want the products to be express their
individual characteristics and their own personal style. The customers of Burberry Group
PLC prefer both mid-range and top-class premium products. So, Burberry Group PLC must
increase production along with innovation to design and manufacture the products such that
they are able to meet the needs of the customers. Burberry Group PLC must study the
preference of each customer before making the designing process. This will increase the
satisfaction of the customers and help to build a long term bond with them.
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3ACCOUNTING & FINANCIAL MANAGEMENT
Recommendation
Burberry Group PLC already advertises its products on social media. But it needs to
market its products to the appropriate people who will be willing to buy the luxury products
that it provides. Burberry Group PLC has seen an increase in the sales that it makes to the
young generation so it must start to market their products to the young generation (Palmatier
2018). The young generation who prefer luxury products and want their clothes and other
accessories to define their personality and style will be the new target market of Burberry
Group PLC.
Also, Burberry Group PLC has seen a rise in the number of customers among the
Chinese. So, Burberry Group PLC must design its clothing and accessories so that they can
meet the style and the personality and also the heritage of the Chinese people. Burberry
Group PLC sells its products through its online website and also through the e-commerce
website. So, Burberry Group PLC must partner up with the major e-commerce websites that
sell luxury clothing and accessories on their website (Dangelico and Vocalelli 2017). This
will increase the number of customers and Burberry Group PLC will be able to reach out to a
greater extent of customers than it currently does. Burberry Group PLC must create new
advertisements on its social media channels so that it can gain the attention of the customers.
It must describe the new products and create a sense of need among the target customer for
the luxury product and service that is provided by Burberry Group PLC (Armstrong et al.
2018).
It also makes the target customers of Burberry Group PLC that the clothing provided
by the company will be able to express their personal style and fashion. Burberry Group PLC
must develop its own website so that it can attract and earn customers from there. Burberry
Group PLC must showcase its different luxury products and also different information about
the company like the countries it operates in, the different cultures and origins that it covers
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3ACCOUNTING & FINANCIAL MANAGEMENT
in the luxury cloths that it manufactures (Baran and Galka 2016). Burberry Group PLC must
provide services through mobile phones as well. Burberry Group PLC must make its website
and advertisements available on mobile devices. Burberry Group PLC must use photographs
of the different cultures and status that it captures in its clothing products. Burberry Group
PLC must develop and release its own applications for mobile devices so that the company
can market its products through these applications (Palmatier and Sridhar 2017).
The website and the application must be well designed and must be on par with the
luxury clothing products that it sells. Burberry Group PLC must also make its presence on
social media. The social media of Burberry Group PLC will increase the attraction of the
customers for the products. Burberry Group PLC will have to keep the customers of the
company about the latest products of the company continuously (Cacciolatti and Lee 2016).
Also, the social media of Burberry Group PLC must showcase the brand value of the
products sold by Burberry Group PLC.
The main advantages of accounting and financial concepts are as follows:
1. In the accounting concept, the records of Burberry Group PLC are maintained in a
proper manner so that the projections in the financial data of Burberry Group PLC can
be used to find the estimated target for the company (Hansen, McDonald and Mitchell
2017).
2. The accounting and financial concepts help Burberry Group PLC to make the
financial statements of the company in proper order so that they can be used by the
customers of Burberry Group PLC to make a prediction of the value of the company.
3. The proper accounting and financial concepts can be used by Burberry Group PLC to
make predictions by comparing the different financial reports and statements. The

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3ACCOUNTING & FINANCIAL MANAGEMENT
marketing strategies can also be developed with the help of the financial reports to
find which marketing strategy will be best for Burberry Group PLC to gain the most.
4. The proper financial and accounting concepts help the management at Burberry
Group PLC to make proper decisions regarding the management and the marketing
strategies that are adopted by the company.
5. The financial and accounting concepts can be used by Burberry Group PLC to
analyze the financial statements of the company to understand how much it should
allocate the resources of the company to gain higher returns. Burberry Group PLC can
analyze the financial statement to find whether the company.
6. The financial and accounting concepts can be used by Burberry Group PLC to find
the tax liability of the organization. The proper calculation of the tax increases the
value of the company.
7. Burberry Group PLC can use the financial and accounting techniques to raise the fund
for the organization. This can also be used by Burberry Group PLC to raise the market
capitalization of the company.
The major disadvantages of financial and accounting theories that affect Burberry
Group PLC are as follows:
1. The financial and accounting concepts can be used by Burberry Group PLC to
measure only those items that are monetary terms. The financial and accounting
concepts cannot measure the transactions of Burberry Group PLC that are not
monetary terms like the brand value of Burberry Group PLC.
2. The financial and accounting concept, when applied to the financial statements of
Burberry Group PLC, give the non-realistic values which cannot be used by Burberry
Group PLC to find the perfect marketing strategies as they are mostly based on basic
concepts.
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3ACCOUNTING & FINANCIAL MANAGEMENT
3. The judgement on which accounting technique Burberry Group PLC is based on
the decision of the accountant of Burberry Group PLC. So, the marketing strategy
selection and its implementation and the results obtained by Burberry Group PLC is
dependent on the accounting technique used.
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3ACCOUNTING & FINANCIAL MANAGEMENT
Reference
Chaffey, D. and Ellis-Chadwick, F., 2019. Digital marketing. Pearson UK.
Kingsnorth, S., 2019. Digital marketing strategy: an integrated approach to online marketing.
Kogan Page Publishers.
Olson, E.M., Slater, S.F., Hult, G.T.M. and Olson, K.M., 2018. The application of human
resource management policies within the marketing organization: The impact on business and
marketing strategy implementation. Industrial Marketing Management, 69, pp.62-73.
Morgan, N.A., Whitler, K.A., Feng, H. and Chari, S., 2019. Research in marketing strategy.
Journal of the Academy of Marketing Science, 47(1), pp.4-29.
Zhang, J. and Wang, R., 2019. Research on the Marketing Strategy of New Energy Vehicles
in SL Company. American Journal of Industrial and Business Management, 9(2), pp.306-314.
Key, T.M. and Czaplewski, A.J., 2017. Upstream social marketing strategy: An integrated
marketing communications approach. Business Horizons, 60(3), pp.325-333.
Hult, G.T.M. and Ketchen, D.J., 2017. Disruptive marketing strategy. Ams Review, 7(1-2),
pp.20-25.
Patrutiu-Baltes, L., 2016. Inbound Marketing-the most important digital marketing strategy.
Bulletin of the Transilvania University of Brasov. Economic Sciences. Series V, 9(2), p.61.
Palmatier, R.W., 2018. Advancing marketing strategy research.
Armstrong, G.M., Kotler, P., Harker, M.J. and Brennan, R., 2018. Marketing: an
introduction. Pearson UK.

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3ACCOUNTING & FINANCIAL MANAGEMENT
Cacciolatti, L. and Lee, S.H., 2016. Revisiting the relationship between marketing
capabilities and firm performance: The moderating role of market orientation, marketing
strategy and organisational power. Journal of Business Research, 69(12), pp.5597-5610.
Baran, R.J. and Galka, R.J., 2016. Customer Relationship Management: the foundation of
contemporary marketing strategy. Taylor & Francis.
Hansen, J.M., McDonald, R.E. and Mitchell, R.K., 2017. Marketing Benchmarking,
Triangulated Isomorphism, and Firm Strategy. In Creating Marketing Magic and Innovative
Future Marketing Trends (pp. 533-543). Springer, Cham.
Dangelico, R.M. and Vocalelli, D., 2017. “Green Marketing”: an analysis of definitions,
strategy steps, and tools through a systematic review of the literature. Journal of Cleaner
Production, 165, pp.1263-1279.
Palmatier, R.W. and Sridhar, S., 2017. Marketing strategy: Based on first principles and data
analytics. Macmillan International Higher Education.
Samiee, S. and Chirapanda, S., 2019. International marketing strategy in emerging-market
exporting firms. Journal of International Marketing, 27(1), pp.20-37.
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