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Burberry's Market-Oriented Approach

   

Added on  2020-01-15

10 Pages2920 Words208 Views
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MARKETING MANAGEMENT
Burberry's Market-Oriented Approach_1

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Company Overview.....................................................................................................................1MAIN BODY..................................................................................................................................1Implementation of marketing orientation in Burberry.................................................................2Strategic goals of Burberry..........................................................................................................2Actions that could be put in place to introduce or further embed a marketing orientation intoBurberry.......................................................................................................................................3Benefits associated with market orientation................................................................................5Conclusion...................................................................................................................................5REFERENCES................................................................................................................................6
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INTRODUCTIONWorld is becoming globalized with each coming day and it is creating several issues forbusiness firms in these days. They are facing huge competition due to the presence of variousfashion brands within country. Marketing orientation can be defined as a business model whichmainly focuses on identifying and meeting the hidden needs of customers along with deliveringthem products according to these needs (Kotler and Keller, 2006). Within this same viewpoint,the present study is taken into consideration which helps in identifying the role of marketingorientation in achieving the strategic goals of company. It is all about the quickness inresponding to market input in order to attain higher competitive advantage. Company’s OverviewIn this present report, Burberry is taken into consideration which is British Luxuryfashion house. This brand was founded by Thomas Burberry in the year of 1856 and his mainfocus was to create outwear that would expand the boundaries. With a large global businessbrand, Burberry has now become a leading clothing luxury brand. It is well known for itsintegrity of the outwear depending in the principles of quality. Mission statement of company isto maintain integrity and vitality of their brand (Kempster, 2013). They also believe indeveloping business in every possible global market. On the other hand, vision statement ofBurberry presents as “They want to become the first company who is fully digital and to build asocial enterprise”.There is huge competition within fashion industry due to changing needs and demands ofcustomers. Some of the major competitors of Burberry are Gucci, Prada etc. Both the cited firmsare average in responding towards the market input (Hollensen, 2015). Further, Burberry iscreating “Innovative functional outwear” and going through the appropriate marketing for thesame. MAIN BODYMarketing is one of the most crucial processes of any organization as it helps inenhancing the customer base of business. It is a management process by which products andservices are transferred from the concept to customers. It is highly related with the promotionand selling of a particular product on the basis of various marketing techniques (Mohana, 2003).Marketing orientation is known as an important business model which involves monitoring of1
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