Business and Enterprise: Functions and 4Ps of Marketing

This report analyzes the different functions of a business and the 4Ps of marketing with a focus on Burberry. It covers topics such as marketing and sales, administrative and management functions, research and development, information technology, and distribution and logistics.

Business and
enterprise

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK ..............................................................................................................................................3
Business functions.......................................................................................................................3
4Ps of business marketing ..........................................................................................................5
CONCLUSION ...............................................................................................................................6
REFERNCES:..................................................................................................................................7
Books and Journals:....................................................................................................................7

INTRODUCTION
The report aims to provide analysis of operating different business practices and
innovative approach to maintain brand name into market. Entrepreneurship is a trait of thinking
out of the box concept and implement it in practical business practices. Doing business by
undertaking all the areas of innovation and market factors is known as entrepreneurship.
Business contains a a lot of functions, market, government influence through selling product and
service into market with the aim to earn maximum profits and creates global expansion by taking
market opportunities (Austine, and Aji, 2018). This report is going to evaluate how a business
mange to perform different function with the context of Burberry, the company was established
in 1856 and has headquarters in London, United kingdom. The company sells luxurious
products in fashion category which includes clothing, footwear, beauty essentials as per market
demand. The company known for its status symbol by setting a standardise products at their
stores. This report is going to analyse various business function and 4ps of marketing which
provide benefits in taking product, price and promotion decisions.
MAIN BODY
TASK
Business functions
A business is a pool of various activities at day to day level. It is known for providing
products and services to satisfy needs and wants of customers with the aim to achieve
profitability and high market share. An entrepreneur is the owner of business who put their
creative mind to be different and unique into market for taking advantage of opportunities and
set successful brand name (Belov, and Novikov, 2021). Business are many types such as small,
medium and large and each one of hold different limitations and boundaries set within legal
provisions. It gets start by engaging capital, resources and technology to achieve objectives of
higher profitability. Man, material, land are the main elements to run a business in an appropriate
way. There are several ways to do a business whether engaged in manufacturing concern of
wholesale and retailer. All have different strategies and unique selling preposition to acquire
potential customers and earn profits. These are the chain of business through which products and
services get reach to large number of people. Burberry provides number of products into their
outlets which include men, women and kids clothing. It is a retailer of fashion apparels that

deals in own brands and unique selling preposition that differs the organisation form its
competitors. There are many functions of a business which assess each and every activities
essential to perform in every business concern. These functions are discussed below:
Marketing and sales: it is the major function of business as organisation develop
products and services but require to reach maximum number of people. (Fitriana, and Wardhani,
2020) This is done by marketing the product in an unique and innovative way that grab customer
attraction. Therefore, the business will utilise capital and invest in promotional activities through
different channels and make everyone aware about companies product. Burberry perform this
function through social media marketing as there are a lot of platforms in the era of internet and
technology. Showcasing products at social media sites gives an insight to customer and
opportunity to select best option to purchase. It also include customer support service through
call centres that fulfil companies objectives.
Administrative and management functions: These functions covers a large and vital
area of a business. It consist functions of auditing, managing labours and employees, provide
training and manage internal operation of business through monitoring and control (Gautam,
2021). Management is the key for business success which needs to be perform effectively as it
maintain decorum of business plan strategies according to organisation norms and culture. HR
and financial managers are a part of this functions who analyse business requirement and
capability to select talented employees and plan a budget for business activities respectively.
Burberry cover all these function in an effective way as they hold a reputed position into market
due to luxurious product selling which shows effective control and cost effective financial
decisions into organisation.
Research and development: as per the modern market trends and dynamic business
environment, a business require a lot of market research before plan for making changes in
existing product or creating new product. In order to analyse current situation and what factors
are influencing customer. Organisation will all those demand and put hard work towards
applying the same in their product and services (Gowthami, and Kumar, 2017). Burberry enable
market research through social media, customer feedback and being updated about current
fashion trends through international perspective. This helps in avoid failure of losses and
Burberry enjoy high market potential. Their products are unique and durable which is not easy to
find in other brands.

Information technology: by seeing rapid growth in technology and internet, information
technology is being the most vital function into business. It helps in analysing consumer trends,
brand reach and enable communication with customer through social media platforms. There
are several IT technologies has confronted its significance in Burberry. The company use AI,
CRM approach to find customers actions and performance on websites. This makes easier to
reach most potential customer who are interested in organisation product. Also, IT is used to
enable the use of effective software for keeping records, data of employees, customers and
maintain development of organisation.
Distribution and logistics: It is also an effective function of business as distribution and
supply chain must be effective for both customers and organisation. distribution must be cost
friendly and sustainable which does not harm society and become convenient to purchase
companies products into market (Lara Aguilar, 2018). Therefore, logistics also require to
ascertain inventory and stock at warehouse by keeping stock safe and sufficient to regulate into
market. This function also require effective planning as Burberry has logistics in UK and other
cities where the stock gets loaded to serve different outlets which would be conventicle for the
customers to reach at easiest locations.
4Ps of business marketing
As marketing is one of the vital function of business, it consist 4 crucial principles which
helps to ascertain the effectiveness and value in business product, price, promotion and place
strategy:
Product: it is the most crucial factor of business as profits and market growth is
depended on what business is selling into market, product must be valuable and authentic to the
use of customers. Therefore, marketing involves decision of product by checking all market
trends and come up with unique selling preposition. Burberry is famous for selling its trench
coats, woollen clothing which are durable and promotes high fashion sense.
Price: product sales and marketing depends on the price of business which consist cost or
production and good sold into market (Roy, 2021). It is the major factor that influence on buyers
purchasing decision. As price must be competitive and effective to cover organisation cost which
rise profits in long run. Burberry sells their product at high prices which are relatively more from
its competitors as it is a luxurious brand and products are of superior quality which require more
cost.

Promotion: it is necessary to be active in the eyes of people. Promotions established act
of showcasing product in an attractive manner through which people get interest in buying
companies products. It is necessary to promote products with most effective platforms through
advertising, social media, new paper and promotional events. Burberry promotes through social
media like twitter, Facebook and run campaign to involve customer engagement.
Place: customer desires to purchase through most convenient place which dies not charge
any additional cost and provide effective mode of distribution (Senzu,nd Ndebugri, 2018). Place
must be authentic and up-to the reach of customer so that, they would not shift their demands to
other organisation. Burberry sells its products by operations different outlets in many region and
serve almost 140 countries. Also, they take orders through online method via websites and
collaborations with other brands, this marketing strategies are dynamic and best to take
advantage of effective customers from the market.
It has analysed that all the 4ps of marketing are effective and beneficial to undertake as it
involves decision of competitive pricing and product value.
CONCLUSION
The report has reach to conclusion of the classification of business and its activities. It
demonstrate the understanding of entrepreneurship and business in broader context. There are
several functions of business which is essential to perform. These functions are management,
IT, marketing and logistics. All are equally vital for the chosen company as it manages to work
on all of these to attain profitability and market share. Also, the report has applied 4ps of
business which is effective to take vital declension of products and price.

REFERNCES:
Books and Journals:
Austine, A.A. and Aji, M.L., 2018. Business Education a Panacea for Growth of Small and
Medium Enterprise and National Development in Nigeria. Global Journal of
Management and Business Research.
Belov, M.V. and Novikov, D.A., 2021. Optimal Enterprise: Structures, Processes and
Mathematics of Knowledge, Technology and Human Capital. CRC Press.
Fitriana, S. and Wardhani, R., 2020. The effect of enterprise risk management and sustainability
reporting quality on performance: evidence from Southeast Asia countries. International
Journal of Economic Policy in Emerging Economies, 13(4), pp.344-355.
Gautam, A., 2021. Enterprise Resource Planning. In Digitising Enterprise (pp. 161-172). CRC
Press.
Gowthami, K. and Kumar, M.P., 2017. Study on business intelligence tools for enterprise
dashboard development. International Research Journal of Engineering and
Technology, 4(4), pp.2987-2992.
Lara Aguilar, A., 2018. A review of literature on social enterprise.
Roy, M.J., 2021. Towards a ‘Wellbeing Economy’: What Can We Learn from Social
Enterprise?. The New Social and Impact Economy: An International Perspective, p.269.
Senzu, E.T. and Ndebugri, H., 2018. Examining business performance of micro, small and
medium scale enterprise through accounting records keeping; case study in
Ghana. Munich Personal RePEc Archive Retrieved from www. mpra. ub.