Marketing Mix Essentials: A Comprehensive Analysis

The provided document delves into the concept of marketing mix, which is a combination of actions and tactics used by organizations to achieve their goals. The management role within an organization is emphasized as they plan and provide facilities to complete goals. References are cited from various books and journals, including 'Marketing Essentials' by Dibb and Simkin, and 'The Future of Marketing Education' by Finch, Nadeau, and O'Reilly. The document also includes online resources such as the marketing mix of Burberry and Armani. A suitable assignment title, meta title, and meta description are generated for publication on Desklib.

Marketing
Essential

Table of Contents
INTRODUCTION...........................................................................................................................1
ACTIVITY 1....................................................................................................................................1
(Covered in Booklet)...................................................................................................................1
ACTIVITY 2 ...................................................................................................................................1
(Covered in PPT).........................................................................................................................1
P3 Comparison of ways in which different company apply marketing mix to the marketing
planning process to achieve business objectives.........................................................................1
M3 Different tactics applied by company ..................................................................................5
P4 Marketing plan for an organisation........................................................................................5
M4 Detailed coherent evidence based marketing plan...............................................................9
D2. Strategic marketing plan which applies use of 7p's for achieving marketing objectives.....9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing is important in all sector that is used to run a business successfully by
influencing the customers. In present time, marketing plays an essential role such as it
understands the needs and wants of customers and provide them that kind of product and
services for satisfying the customers (Clow and James, 2013). Every business concern should
have ability to adopt the new technology and implement it within organisation to operate a
business continuously. To understand the value of market and how it helps businesses to reach at
global level Burberry has been chosen. This is British luxury fashion house established in 1856,
London, UK. It is mainly consider fashion house that focus on and distribute trench coats ready
etc. This presentation discusses about different topics such as comparison of different ways in
which company apply marketing mix to the marketing planning that help to achieve objectives,
evaluation of marketing plan that helps to understand what need to do in future in order to run a
business efficiently.
ACTIVITY 1
(Covered in Booklet)
ACTIVITY 2
(Covered in PPT)
P3 Comparison of ways in which different company apply marketing mix to the marketing
planning process to achieve business objectives
Marketing mix: This is a comprehensive process that involves end to end view of
product and services. This is the set of tactics and actions which can be used by a company to
increase the sale by promoting the products. It helps to create a brand image of products and
services that influences customers. Marketing mix involves different element such as product,
place, promotion, price, people, process and physical evidence that helps to decide the position
and image of organisation in global market.
Marketing is the planning and strategy that is implement by companies to satisfy
customer needs and wants, maximize profits, increase sales and sustainable growth in
competitive market. Without marketing an organisation cannot increase the sale and profits
because it set people mind and focuses on customers’ needs before providing any types of
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products and services, so marketing is important for all enterprises. For example, Burberry is the
multinational company that deals in fashion house and provide designing products in order to
influence customers. The main aim of marketing mix is to understand the needs of customers and
make efforts to satisfy them by providing different types of products (Dibb and Simkin, 2013).
The main object of Burberry is to expand the business and profitability by using marketing mix.
The marketing mix of Burberry company and Armani company are follows as:
Illustration 1: marketing Mix, 2018
Source: Marketing Mix
Marketing mix of Burberry and Armani company
Product: Product is an item which is used to offer in market at different cost in order to
influence customers.
Burberry: Burberry is the famous and luxury fashion house industry that deals in
different types of products. Its products are defined in six major category like women's wear,
men & women accessories, iconic trenches, coats, jackets, shirt, tops, Knitwear, skirts, trousers,
Denim, Swimwear, shorts, ties and many more. Its core product segment is beauty, accessories,
women kids and men. This organisation is capturing the market share by selling the trench coats
and jackets which helps to attracts customers. Moreover, it focuses focuses on trending style and
offers that products for influencing high standard of people (Marketing mix of Burberry, 2019).
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Armani: Giorgio Armani is a premium clothing focused industry that transform its
product line in to persona. It provides different types of product at number of location that
influences customers. The main aim of this organisation is to become world's largest company by
focusing on clothing industry. It targets young people between 25-35 age group and provide
modern design of products (Marketing mix of Armani, 2019.).
Place: Place is the particular position, area, space and location where company offers
their products in order to gain profits. The main target is to expand the business at larger area and
maximize the productivity.
Burberry:Burberry is fashion house industry that operates its business at 475 stores in
close to 50 countries. All the stores of Burberry are located in highly populated area that give a
guarantee to get define revenues. Huge number of people are residing this area that helps to get
expected profits by selling the goods in larger market. Moreover, it provides online shopping
facility which helps customers to get item by using online services.
Armani: This is the chain of retail outlets by providing products at different places. It
operates its business at retail network of 60 Giorgio Armani boutiques, 11 collezioni, 1Giorgio
Armani Accessory, 13 Armani Junior stores all over the 37 countries. It provides premium
quality of clothes that help to meet with customer needs (Finch, Nadeau and O’Reilly, 2013).
Price: Price is the amount which is expected by customers in order to purchase the
products and services. This amount is paid by purchase who buys some thing and pay amount as
consideration.
Burberry: Burberry is well known and existing company that uses premium pricing
strategy to sell its products by influencing customers. It does not compete with prices because of
high brand image and luxurious goods. Moreover, it keeps same prices of products that helps to
retain customers and join new one.
Armani: Armani is serving world class people that help to capture more market share all
over the world. It is using premium price strategy due to having high quality of clothes and
accessories. The interested and high standard people who purchases goods from this
organisation. It attracts celebrities, businessman and high status people.
Promotion: This is the activity which runs by entity to support and encourage the
products and services. The main aim of promotion is to increase the sale by promoting the
products with the use of different sources.
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Burberry: Burberry is using advertising strategy with the help of T.V., online ads,
billboards, social media and magazine which influences people to buy products.
Armani: Armani is famous in fashion industry that conducts events to promote its
clothes and accessories. Such as it has several events, ramp show, model walk, etc. hat helps in
showcase product line (Kassambara, 2018).
Physical evidence: Physical evidence is considered as material part of service that help
to select the best products. The main aim of using this element is provide customer satisfaction
after providing physical cues that help to evaluate the product before buying products.
Burberry: Burberry offers physical cues to select the products and know about quality in
order to influence clients. Moreover, it also give a facility to purchase online and get physical
document through delivery.
Armani: Armani is focuses on physical process such as it has offline store in 13 country
where customer can touch and select products. They also get physical delivery of products and
services.
Process:This is another element of marketing mix that involves process 8in which
company achieve outcome by offering the number of products. Moreover, it involves planning
that can helps to understand the needs of customer and change in production process.
Burberry: Burberry is known as fashionable industry that understand the needs of people
and complete the designing process in order to influence customers. It uses new technology and
focuses on how to deliver more and more products (Morgan, 2016).
Armani: Armani maintain the effective communication by understanding the demands of
valuable and high profile customers. Moreover, it uses celebrities to make new designing clothes.
People: This is the essential element of any industry and experience that helps to
produce and consume the goods at the same time. It also helps to meet with customer goals and
needs. People is the first need of any business organisation that help to manufacture, distribute
and making profits.
Burberry: Burberry has variant staff who focuses on production of new products,
marketing and distribution of products and supply of products. Moreover, it hire the technical
people in order to use new technology and provide them information about new products.
Armani: Armani is big brand that has number of people as staff, workers, marketing
manager, sale and distribution department and etc. to sale the products. It involves designing,
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marketing, promoting, supplying managing and other people to increase the brand image
(Scarborough, 2016).
M3 Different tactics applied by company
From the above discussion it is evaluated that company apply different tactics that help to
grow continuously. Burberry applied different types of tactics such as paid advertising, online
marketing, internet and relationship marketing that helps to attract customers and maintain the
productivity within organisation. By applying online marketing tactics it influence customers
who visit website and selects products. Same as by internet and relationship marketing tactics it
make feel good to customers and increase the productivity.
P4 Marketing plan for an organisation
Marketing plan is a blueprint and roadmap of business that suggest what action should be
taken to expand business. It helps to run a business effective in different market area. The main
object of marketing plan is to set the goals of organisation and follow them in order to achieve
objectives. The manager of organization make different types of strategies that helps to
understand the needs and provide satisfaction to customers. Such as management of Burberry
analysis the market and get the needs of customer and than design of products and services in
order to influence customers. The main target of this organisation is to make solid business plan
including budget that help to meet with decided goals (Baack, Harris and Baack, 2013). The
management of Burberry make business plan which is given below:
Executive summary: In present, company is offering number of products in more then
50 countries. Burberry is planning to expand its business by introducing new product that is
hands on bomber jackets and bumbags with new logo. For this it make business plan which is
given as:
Overview of organisation: Burberry is the luxury industry in fashion house which was
established in 1856, London. It deals with variety of products and provide satisfaction to
customers. The main aim of this organization is to become world's largest company by selling
the products and services (Baines, Fill and Page, 2013).
Vision and Mission: Organisational vision is to increase the profits by bringing new
product that can influences customers. The mission is to introduce with new trend and implement
by management in order to attracts customers.
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Objective: The main objective of the company is to expand its marketing activities by
launching the new product at market place. The objectives of Burberry are as:
 To increase the market sales by 20% up to 2020.
 To capture the market share by 60% by the year 2020.
 To satisfy the customers by creating their interest within market (Blythe, 2012).
STP approach: This approach is most familiar in marketing that helps business concern
to formulate the strategy and get the benefits from such planning. Burberry is using STP
approach to define the segmentation, positioning and targeting which is described below:
 Segmentation: It considers classification of market in to various group by analysing the
needs and wants. Burberry is based on geographic and demographic market segmentation
that help to make decision. In geographic segment it involves region, city and
international region that help to design clothes and accessories according to region and
taste. Demographic divides the market according to the age group, income and gender in
which Burberry focuses between 25-35 age groups (Campbell, Martin and Fabos, 2018).
 Targeting: Burberry is famous fashion industry that has targeting to influence child and
adult person by launching bomber jackets and bumbags. It target is produce more
products and increase interest of customer.
 Positioning: This is the process hat defines position of business in market. Burberry
maintain a good position in market by setting people minds. It will use advertisement that
will help to promote products (Clow and James, 2013).
SWOT of Burberry
Strength:
 It has high network retail, wholesale and licensing channels globally.
 Biggest fashion house that offers clothes, cosmetics, perfumes etc.
 Uses good advertising sources and brand connections in order to influence customers.
 It operate business in more than 50 countries and expanding business (Cant, Wiid and
Meyer, 2016).
Weakness:
 High competition in market.
 Lack of proper planning.
 Change in currency.
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 Change in customer taste.
Opportunity:
 To enter in to new fashion market by introducing new products.
 More advertising and marketing can increase the profitability.
 Global expansion of business can increase the brand image.
 Effective use of e- commerce that help to increase the sales.
Threat:
 Higher competition and low prices of competitors.
 Customers have higher bargaining power and low switching cost (Sibly, 2016).
Sources of fund
Internal sources: Burberry arrange funds from own sources such as family, friends own
capital and assets.
External sources: Burberry arrange funds by using venture capital, bank loan and
crowdfunding.
Budget: Burberry prepare a budget for introducing new product that can helps to spent
money on various activities within organisation (Srinivasan and Humes, 2017). The budget for
launching new product by Burberry is defined as:
Marketing budget ( Amount in £ )
Particulars 1st year 2nd year 3rd year 4th year 5th year
Initial money 2500 5000 7000 8000 12000
Investment 3000 5000 10000 22000 18000
Total 5500 10000 17000 30000 30000
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Marketing outlay
Promotion or
advertisement 12000 12000 13000 15000 16000
Sale activity 4000 5000 6000 6000 8000
Direct selling
activity 3000 7000 3000 4000 5000
Total 19000 24000 22000 25000 29000
From the above budget it can be understand that organisation need to spend funds
according to activities such as initial money, investment, promotion and advertisement and direct
selling activity that will help to increase the sale and also increase the sales (Dibb and Simkin,
2013).
7 p's of marketing
In Burberry company, management defines 7 P's that help to introduce from new
products and maintain the productivity. The 7 p's are defined as:
Product: Burberry is launching hands on bomber jackets and bumbags with new logo
that will influence customers in order to purchase and accept new tred.
Price: It will use premium pricing due to having high brand image and high company
profile.
Place: Burberry will introduce new product such as hands on bomber jackets and
bumbags with new logo in London at populated area which will attracts old and new customers.
Promotion: Burberry will use magazine, online apps, own websites, new papers and
social media that will help to increase the sale of new launching product.
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Process: Burberry will use business analyst process that will helps to know the needs of
customer and provide them that kind of products and services (Finch, Nadeau and O’Reilly,
2013).
Physical evidence: In this element Burberry will give a facility to their customer to get
physical cues of product and feel good quality of products in order to attract customers.
People: Burberry has number of staff and for further launching product it will use market
manager or specialist who have better knowledge about new product and its uses. It will help to
to attract customers. The manager will help to sale the products in large market.
Monitoring and controlling: Burberry will monitor and control the process in which it
will check the budget on daily basis. Moreover, it will check the internal and external activity of
company by using new technology that will help to attract customers. If budget of company is
going exceed than it will control the budget by reducing the waste and implementing the budget
(Juska, 2018).
From the above budget plan it has been evaluated that Burberry company prepare
business plan and launching new product. It will analysis the market and understand the trend
and lifestyle of people in order to design new product. It make estimated budget for spending
money on different activity that will help to increase across the world. If budget will go exceed
in some activity then it can control by adjusting with other activity. Such as it can monitor and
control the activity due to introducing new product (Stern and Porr, 2017).
M4 Detailed coherent evidence based marketing plan
Marketing plan consider various steps for running a business successfully that helps to
increase the sale. It helps to make future planning in order to achieve goals and objectives.
Marketing manager of Burberry prepare marketing plan that helps to set activities like executive
summary, vision and mission, objectives, budget, STP, SWOT analysis, 7p's of marketing and
monitoring and controlling that helps to introduce new product smoothly (Ahmed and Rafiq,
2013).
D2. Strategic marketing plan which applies use of 7p's for achieving marketing objectives
Strategic marketing plan is the ongoing process which is used by Burberry to run
business. Plans helps to understand what need to do and how Burberry can attain goals. Burberry
apply 7p's in their business in target market. For instance, Burberry is launching hands on
bomber jackets and bumbags with new logo in London. It will adopt premium pricing strategy
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that will influence customers. Moreover, 7p's helps to understand the strategy of company and
control the business activity (Baker and Magnini, 2016).
CONCLUSION
From the above report it can be concluded marketing is essential in all organisation as it
helps to understand the needs of customers and make effective plan to satisfy them. Marketing
mix is the combination of actions and tactics that helps to achieve goals. Management plays
important role within organisation as they make plans and provide facility to complete goals.
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REFERENCES
Books and Journal
Ahmed, P. K. and Rafiq, M., 2013. Internal marketing. Routledge.
Clow, K. E. and James, K. E., 2013. Essentials of marketing research: Putting research into
practice. Sage.
Dibb, S. and Simkin, L., 2013. Marketing essentials. Cengage Learning.
Finch, D., Nadeau, J. and O’Reilly, N., 2013. The future of marketing education: A practitioner’s
perspective. Journal of Marketing Education. 35(1). pp.54-67.
Kassambara, A., 2018. Machine Learning Essentials: Practical Guide in R. sthda.
Morgan, D. L., 2016. Essentials of dyadic interviewing. Routledge.
Scarborough, N. M., 2016. Essentials of entrepreneurship and small business management.
Pearson.
Baack, D. W., Harris, E. G. and Baack, D., 2013. International marketing (Vol. 3). Sage.
Baines, P., Fill, C. and Page, K., 2013. Essentials of marketing. Oxford University Press.
Blythe, J., 2012. CIM Coursebook Marketing Essentials. Routledge.
Campbell, R., Martin, C. and Fabos, B., 2018. Media essentials: A brief introduction.
Bedford/St. Martin's.
Clow, K. E. and James, K. E., 2013. Essentials of marketing research: Putting research into
practice. Sage.
Cant, M. C., Wiid, J. A. and Meyer, A., 2016. SMEs: Do they follow a shotgun or rifle approach
when it comes to target marketing?. Problems and Perspectives in Management. 14(3).
p.504.
Sibly, B., 2016. Engagement and retention: Essentials of retention tools. Handbook of human
resources management, pp.661-672.
Srinivasan, L. and Humes, M., 2017. Behavioral interviewing essentials (and why you should
care). Strategic HR Review. 16(2). pp.81-85.
Dibb, S. and Simkin, L., 2013. Marketing essentials. Cengage Learning.
Finch, D., Nadeau, J. and O’Reilly, N., 2013. The future of marketing education: A practitioner’s
perspective. Journal of Marketing Education. 35(1). pp.54-67.
Juska, J. M., 2018. Integrated Marketing Communication. Advertising and promotion in.
Stern, P. N. and Porr, C. J., 2017. Essentials of accessible grounded theory. Routledge.
Online
Marketing mix of Burberry. 2019. [Online]. Available through:
<https://www.mbaskool.com/marketing-mix/products/17065-burberry.html>
Marketing mix of Armani. 2019. [Online]. Available through:
<https://www.mbaskool.com/marketing-mix/products/17813-giorgio-armani.html>
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