Marketing Essentials of Burberry
Added on 2020-12-09
16 Pages4859 Words446 Views
Marketing Essentials
INTRODUCTIONMarketing is considered as the ongoing process which consists of different functionswhich are promoting, distributing good quality products and services in the market. Marketing isa wide scope that includes the elements like products, person, property, ideas and informationsthat assist the business organisation to sustain in the market for the long period of time. It can bestated as a technique which helps the organisation in in promoting their products to fulfil thedemands of the customers in effective manner to increase their satisfaction level (Abafita,Atkinson and Kim, 2016). The present report is based on Burberry which is a UK based luxuryfashion house, situated in London, England. The organisation commenced its business operationsin the year 1856 and was established by Thomas Burberry. They have around 500 locationsworldwide. The project will discuss the roles and responsibilities of the marketing functions,interrelation with the other departments of the organisation. The report will also include themarketing mix and business plan will also be made in the report.LO 1Roles and Responsibilities of marketing functionMarketing-Marketing is a process of building and maintaining relationship with customers andsatisfy their need and want. It is an activity that offers value to customers,clients, partners andsociety at large. Marketing involves identification of customer need and fulfilling the wants ofconsumer to achieve the organisational goals.Concept of Marketing-The concepts are formed to analyse the needs of their potential customers and makingeffort to satisfy their need. The concepts are production,product, selling, marketing and societalmarketing concept. Marketing orientation has defined as a “philosophy of business management”which includes following policies. Production concept is related to producing maximum volumesby producing cheap products to maximise probability and scale. Product concept is selling moreproducts which offer quality, performance or innovative features. Selling concept is the effortswhich are made to persuade the consumer to buy more and the focus is on selling firm's existingproducts. Marketing concept focus on identifying needs and want of target market and providingvalue to their need better and early from their competitors. Marketing is a customer-oriented and
organisational oriented approach Societal marketing concept is related to fulfilling the demand ofsociety and providing better quality product considering a social act. Burberry uses this conceptof marketing to achieve their marketing and organisational objective.Roles and responsibilities of Marketing Manager-A marketing manager is the person who manages all the marketing activities andchannelise the marketing resources effectively for a business. The manager is accountable for thevarious product or services. A manager should be cooperative and friendly with the subordinates.The manger also need to be highly focused regarding their target and goal and meeting budgetrestraints. There are following function manager of Burberry required to perform are-Developing marketing strategies- The marketing manager of Burberry is required toanalyse the needs and wants of customers and plan strategies to add value in the productand provide superior value. It is a managerial process which develops and maintainbalance between organisation's objectives, skills, resources and its changing marketingopportunities. The strategic planning can be applied at four levels which are corporate,division, business unit and product.Marketing Information system- The marketing managers of Burberry require marketinginformation system for market and product analysis, planning and implementing andcontrolling responsibilities. This provides important information and distribute it wherethe information is required.Marketing research- The marketing manager of Burberry after analysing marketingenvironment, it is necessary for manager to acquire company- specific knowledge and theknowledge can be related to their product, company, market, target consumer group.Modern manager prefer hiring of professional for conducting research and research canbe conducted for new product development or product modification.Creating customer satisfaction and loyalty- Customers prefer product that offersmaximum value. They choose the firm which offer highest customer value and variousquality management programmes to build customer loyalty. It involves examiningdetailed information about individuals customers and using the information to win theirtrust. The manager of Burberry performs this detailed examination and deliver customersatisfaction.
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