Detailed Marketing Plan Report: Burberry Handbag Launch Strategy

This report presents a detailed marketing plan for the launch of a new handbag by Burberry. It includes an introduction highlighting the importance of marketing in organizational success and profitability. The marketing plan outlines Burberry's vision, mission, and objectives, which include enhancing productivity and sales, increasing profitability, and expanding the target market. The report incorporates the STP model (Segmentation, Targeting, Positioning) to define the target audience and marketing approach. A SWOT analysis is conducted to evaluate the brand's strengths, weaknesses, opportunities, and threats. A marketing budget is also provided, detailing financial allocations for various marketing activities. The report concludes with a reflection on the learning experience and references relevant academic sources. The analysis provides a comprehensive understanding of the strategies involved in launching a new product in the luxury fashion market.

MARKETING ESSENTIALS

 Introduction
 Marketing plan
 Reflection
 Conclusion
 References
TABLE OF CONTENT

Marketing is one of the major component on which the success and profitability of an organisation
depends as it plays a important role in promotion and enhancing sells of an product. This presentation
includes a detail market plan in which vision, mission and objectives of a project are included. SWOT
analysis and STP model are also there in this presentation.
INTRODUCTION

 Market plan : A market plan is basically a written document which provide all the relevant information
about various strategies and tactics used by an organisation for timely completion of a project.
 Overview: Burberry is a famous British luxury house having its headquarter in London. It is dealing in
a variety of products like ready to wear to clothes, trench coats, sunglass, cosmetics items, etc. To get
better competitive advantage it is coming up with a new ladies handbag. For that purpose following
market plan is prepared.
MARKETING PLAN

 Vision: Burberry is having a long term vision, “ To establish an unbendable, strong and most
superior position in luxury fashion industry”.
 Mission: The mission statement of Burberry is, “ To maintain the vitality and integrity of its
brand to get better evolving markets and more target customers”.
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 Objectives
Objectives shows the main target and goals of an organisation that it wants to achieve within in a specific
timeframes. The main objectives of Burberry behind launch of this new hand bag are :
 To enhance its productivity and sales by 20% in 1 year through providing better quality products.
 To increase the probability of the organisation by 10% in coming 9 months.
 To increase its target market by 15% in 9 months through providing new and better products to customers.
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STP model
 Segmentation: It is a process of dividing a business environment or market in small parts or sub set to
formulate effective strategies. Segmentation aims at providing most suitable match between a group of
purchaser in the market and the products offered by the organisation. . Burberry is making use of
geographic and demographic for attracting more group of customers.
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 Targeting: Burberry is targeting girls and mid age women of rich and elite section for its new handbag.
 Positioning: Burberry is making use of advertising technique for positioning its new hand bag. Attractive
advertisements are placed in fashion manginess and many models are also approached for promotional activity for
better positioning of its new product.
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 SWOT analysis: Following SWOT analysis is done by Burberry for effective launch of its new
product.
Strengths: Burberry is having a successful track record of developing new products.
Weaknesses: High attrition rate and high cost of training is also a weakness of Burberry which has
increased its cost and provide a advantage to its competitors.
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 Opportunities: Burberry is having an opportunity to increase its target market by expanding its
business into different market and it can also improve its product portfolio through launching new
product.
 Threats: It is having threat from its competitors like Gucci which is offering some of its product at
lower cost.
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Budget
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MARKETING BUDGET (£)
PARTICULARS Ist Year IInd Year IIIrd Year IVth Year Vth Year
Initial money 4000 7600 13300 15460 18870
Investment 9600 10600 23840 31640 13760
TOTAL 13600 18200 37140 47000 32530
MARKETING OUTLAY
Promotion 5646 2559 5693 2975 2111
Sales publicity 1365 1000 2452 1492 1050
Direct selling 2345 1900 4961 1300 4644
TOTAL 9356 5459 13106 5767 7705

 Controlling and Monitoring: It is necessary for Burberry to have proper controlling and monitotring
measure to keep a check on performance and quality of its project. Use of efficient monitoring
techniques are made to evaluates the performance of employees and control measures are used to
ensure the standard and quality of its new handbag.
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