Marketing Essentials: Comparing 7Ps of Marketing Mix and Formulating Strategic Marketing Plan

Marketing essentials

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
PART-1............................................................................................................................................3
PART-2............................................................................................................................................3
Comparing the 7Ps of marketing mix with the competitors........................................................3
Formulating strategic marketing plan..........................................................................................6
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Marketing strategy refers to the strategic tools used by the organization in formulating its
business plan. In this report, Burberry is taken, which is a luxury fashion brand in UK. This
report presents a comparison between two organization based on 7Ps of marketing mix and also
developing the marketing plan to achieve the business objective.
PART-1
Covered in PPT.
PART-2
Comparing the 7Ps of marketing mix with the competitors
Basis of comparison Burberry Hermes
Product The core segments of Burberry
products is beauty, men and
women clothing, kids clothing,
beauty products etc. In
fragrance collection it incudes
Burberry touch, Burberry Brit
etc. Approximately, 20% of its
sales comes from men wear
and remaining from women
wear (Kotler and et.al, 2019).
Hermes uses customization in
order to grow in the market. It
also focusses on diverse
product range which includes
jewellery, watches, fragrances,
bags, apparels and accessories.
It also provides home care
products.
Price It uses premium pricing
strategy for selling its
products. It is a luxury brand
so it does not directly compete
on prices. The price is set as
per the willingness of the
customers.
Hermes has also adopted
premium pricing strategy to
target luxury customers
(Sayed, 2019). It also does not
provide any discount to its
customers on any events.
Place It has 475 stores across 50
countries and are mainly
situated at the highly
It has a wide distribution
channel. It also has a
worldwide presence in location