Business Strategy: Mulberry's Mission, Vision, and Core Competency

This presentation discusses Mulberry's mission, vision, and core competency in the context of strategic planning. It explores the issues involved in strategic planning and introduces techniques like the Boston Matrix and product life cycle. The presentation concludes with an analysis of Mulberry's profitable products using the product life cycle.

Business strategy
TASK 1
1.1, 1.2, 1.3

Introduction
Business strategy can be defined as the tactics made by the organization to
compete with the rivalry brand. Further, the presentation will discuss
about mission, vision, core competency of Mulberry. It will stress on
Boston Matrix and product life cycle.

1.1 Strategic context and
terminologies of Mulberry
 Mission- The mission of the firm is to make their organization a
leading brand name in the area of luxury market.
 Vision- Mulberry has the vision to enhance their market share by
expanding their business in different countries.

Cont.…
Objectives – These are the small targets through which the firm develops
its name in the market. The objectives of Mulberry are as follows:
 To increase the market segment
 To develop positive brand image in the minds of the customers
 To provide high quality products to their users

Cont…
 Goals –they are basically the long term targets of the company. Goal of
the firm is to identify the changing fashion trends in the market. On the
other hand, gaining brand recognition.
 Core competency – It can be defined as a distinguished feature with the
brand. As per Mulberry the core competency is its quality and the design
which they are serving to the individual.

1.2 Strategic planning and issues
involved in it
Strategic planning- It is basically planning if human resources, finance
and factors for achieving the company’s goals and objective. The issues
which are involved in strategic planning of Mulberry are as follows:
 Changing marketing trends- The fashion trend is changing very
rapidly
 Competition among the luxury brands- in luxury brands, the rivalry
among competitors is very high

Cont.…
 Technological advancement- With the upgradation of marketing
tool, the firm has to switch on to latest market techniques to target
their customers.
 Resource availability- At the time of expansion in new country,
Mulberry can face the unavailability of resources which will hinder
their strategic planning process.

Cont.
 skilled manpower- For implementation and making the strategic
plan, skilled workforce are required to effectively achieve the
objectives.
 changing political and economical scenario- Mulberry is the
fashion brand, so political situation and economical factors affects
strategic planning effectively.

1.3 Strategic planning
techniques
Strategic planning techniques- These are the tools which gives
direction to the organization for achieving the targets and the
objectives made by the firm. there are different planning techniques
which are as follows:
 Boston Matrix
 Product life cycle

Boston matrix
This tool helps in analysing the prospects of the product and further assist in
evaluating the success and failure criteria. Through this tool, Mulberry will able to
evaluate the product which will give huge returns in the future. The four quadrants
of the matrix are as follows:
 Cash cows- In this the product have huge market share. For e.g.- leather bags,
dispatch bag, binocular bag.
 Stars- Large market share and growth rate is high. For e.g.. Designer leather bags

Cont.
 Question marks- In this, The market share of the product is low but
in the recent time, it will have huge growth prospect. In case of
Mulberry , it has launched a Tessie collection.
 Dogs- The product have low market share as well as growth is also
not possible. The new spring collection falls in this category.

Product life cycle
Product life cycle can be defined as the stages of the products. It states with
the introductory stage then growth where the product is growing. After this
maturity stages comes and then decline in which the product losses its
charm.
 Introductory- Mulberry Tessie collection
 Growth- leather bags
 Maturity- leather poacher bags
 Decline- spring summer collection

Conclusion
From this, it can be concluded that, leather bags has create scope in the
future and further there are collection of Mulberry which are not
earning any profit. Through the product life cycle they are able to
identify the profitable product of their firm.

REFERENCES
 Astrachan, J.H., 2010. Strategy in family business: Toward a
multidimensional research agenda. Journal of Family Business
Strategy.1(1). pp.6-14.
 Verbeke, A., 2013. International business strategy. Cambridge
University Press.
 Benoît, C., Norris, G.A., Valdivia, S., Ciroth, A., Moberg, A., Bos,
U., Prakash, S., Ugaya, C. and Beck, T., 2010. The guidelines for
social life cycle assessment of products: just in time!. The
international journal of life cycle assessment. 15(2). pp.156-163.
 Temmerman, R., 2011. Stars, problem children, dogs and cash cows:
evocative terminology in multilingual business communication.