This presentation discusses the marketing plan for Burberry, a fashion accessories company. It includes a SWOT analysis, PESTLE analysis, marketing objectives, STP, marketing mix, and implementation plan.
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Marketing Essential (TASK-3)
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Table of Content Introduction Background Of Business And Rationale Why Business Will Succeed. Swot And Pestle Of The Business Marketing Objectives For The New Business Plan Stp For Business Marketing Mix For The Business Plan Implementation Plan For The Promotional Launch Conclusion
Introduction The marketing plan is the plan or strategy for the future course of action. The marketing plans are generally made for achieving the desired goals and targets and for satisfying the unlimited needs and wants of the customer's.
Background of business and rationale The company taken for this report is Burberry which deals infashionaccessories,clothes,fragrances,etc.The company is headquartered in United Kingdom. Burberry has a goodbrandimage inthe market as the company is continuously focusing on improving its business.
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SWOT of the business. Strength-Burberry has the experience of more than a century. They have a large supply chain in which whole- seller, retailer etc. are working with them globally. Burberry has a wide portfolio which include clothes, perfumes etc. that are accepted in all over the world. Burberry's 500+ stores are operating smoothly in more than 50 countries which build trust factor in eyes of customer and create their value a British brand. Weakness-Burberry has to face price based competition from their competitors. As there products are too expensive while competitive products are available at a reasonable price. Burberry's product are only classified as a they are in budget of only upper section of society. They have low share in market as their segment is only cover upper class of the market.
Continue.. Opportunities-Burberry can increase their demand by collaborate with other companies this also help them to increase their market share as well as new ways to expand and grow their business. By focus on more marketing and with doing of proper advertising cosmetic section can achieve more growth as in today scenario consumer are moving towards herbal and organic products. Burberry has a new section to enter in market and increase their sell which is known as E-commerce platform. Threats-as market is expanding globally companies has to face competition from international market also. Like Prada, Zara, Gucci are a threat for future. Consumer are switching towards other company as they have high bargaining power and local companies are providing low cost to them with a good quality product. Company has large number of store to operate so some time delivery of products at store is become a difficult task to do.
PESTLE analysis Political factor- As Burberry is operating their business all over the world. Each country has their own code of conduct by which Burberry store are bounded. They have to follow the rules of that country. Economical factor-It help a company to know that how much amount is spend by an individual of that country. Like most tourist who come to visit the Britain prefer to purchase Burberry product as it is a status symbol in society.
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PESTLE analysis Social factor- Burberry has different types of customer like each of them has a different background they belong to a different culture as it is because they have their presence in different countries. Technological-Atpresentscenariothereisanew businessplatforminMarketwhichisknownasE- commerce.
PESTLE analysis Environmental-ProductsofBurberryarepresent everywhere. They already making their products like clothes from organic wool that are environment friendly. Legal factor- for a big, success company must have to abide by laws. Favourable legal law help thecompany to find some positive effect in a country.
Marketing objectives Specific- The major aim of the business will be to improve and increase the profit of the business organisation. Measurable- The focus will be on achieving more than 50% of the market share of the company. This can be done by increasing the sale of the company. Achievable- The targeted goals can be achieved by focusing on the female customers of the company. As there is a good opportunity for the business to attract the females of middle and high income class.
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Continue Relevancy- Burberry has a good brand image in the market. So it will be easy for the company to introduce a new product and to compete with the competitors. Time Bound-The targeted goals and objectives needs to be achieved within the period of one year by the organisation.
Stp For Business Segmentation Targeting Positioning
Marketing mix for the business plan. PRODCUT The product will be introduced in the market as per the need and preferences of the customer. The product will help the customer in improving and enhancing their skin. PLACE The product can be launched and placed in every stores and malls so that customers can easily reach to buy the product. The product can also be placed in the online market. So it will be convenient for the customer to buy it. PRICE The price of the final product will be according to the paying capacity of the potential customers. As the product will be for the middle and high class people. So customer will easily going to afford it as the product price will be low. PROMOTION The promotion of the product can be done by using social networking sites. For attracting more customers the product can be sold on discounts.
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Implementation Plan For The Promotional Launch. ParticularsAmount Advertising on TV (10%)20000 In social Media Platforms (25%)50000 On newspapers (10%)20000 Sales Promotion- (30%)60000
Conclusion From the above report it can be concluded that organisation needs to do proper planning and analysing so that the resources of the company can be used in the best possible manner. The new product will be able to earn good profit if proper marketing mix theory and budget is decided by the management of the company.