Marketing Essentials Report: Burberry Marketing Environment Analysis

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This report provides a comprehensive analysis of Burberry's marketing strategies, roles, and responsibilities. It begins with an overview of marketing fundamentals, including key concepts such as product, selling, marketing, and societal marketing. The report then delves into the specific roles and responsibilities of the marketing department within Burberry, covering areas such as setting up strategies, brand management, and market research. Furthermore, it examines the marketing function within the context of the marketing environment, exploring the interrelationship between marketing and other functional departments. The report also highlights current and future trends in marketing, such as social media, content marketing, artificial intelligence, and virtual reality, and their relevance to Burberry's operations. The assessment is based on the academic year 2018/19 and focuses on the Marketing Essentials module.
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MARKETING
ESSENTIALS
BURBERRY
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Table of Contents
Activity 1................................................................................................................................3
Key roles and responsibilities of the marketing function...........................3
Analysis of Roles and Responsibilities of Marketing in context of
Marketing Environment and Interrelationship of Marketing with
other Functional Departments................................................................................6
Critical analysis and evaluation of the key elements of the marketing
function and its relationship with other functional units...........................8
REFERENCES.......................................................................................................................9
Marketing is the activity of attracting the potential
customers which is performed by the marketing function of a
firm in order to enhance the sales and profit of the firm. This
function is highly essential for the firms in order to achieve high
growth and sustainability at the marketplace. The marketing
department performs various roles and responsibilities such as
promotion, market research etc. for attaining the both short and
long terms goals of organisation.
The selected organisation for supporting the content of
this assessment is Burberry which is offering a huge variety of
fashion products to their targetted customers. The company is
providing the products such as Clothing, cosmetics, fragrances
etc. to the customers in 498 locations all over the world. The
company was founded in the year of 1856 at London, England.
This report will explain the roles and responsibilities which are
performed by the marketing department along with the roles and
responsibilities of marketing function in the marketing
environment. Further this report will cover the key elements of
the marketing function along with the interrelation of various
department with marketing department.
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Activity 1
Key roles and responsibilities of the marketing function
Marketing is the essential requirement of the
organisations in order to enhance the sales of products as well
as to develop close relationships with the customers for
ensuring their satisfaction. The marketing function conducts
market research in order to analyse the different aspects of
market and customers so that proper strategies can be developed
for providing the products properly to customers based on their
needs. It also provides the information and ways through which
an organisation can develop their new products for achieving
sustainability and high growth at the marketplace. There are
various concepts of marketing which needs to be understood by
the marketing department for analysing the present and future
trends in marketing. These concepts of marketing are as
follows:
Production Concept: It is the oldest concept of the
marketing which was introduced during the start of
capitalism era in 1950's. In that era, the concept of the
marketing was focused on the manufacturing of the
products, efficiency and performance issues etc. The
basic idea behind the production concept is to reduce the
cost of manufacturing in order to enhance the supply of
products. This concept is also beneficial for the firms in
getting liked by the customers as proper products are
provided by the company to them.
Product Concept: This marketing concept is based on
the assumption that customer prefers the products and
services of an organisation based on the quality of the
products provided, features of products in terms of
innovation and uniqueness. The organisations should
focus on improving the quality of their products and
services by developing suitable strategies so that
customer satisfaction can be ensured. Also the
marketing of the products which provided by the
company is based on the quality as well as features of
the products so that firm can attract the customers
through the marketing in suitable manner.
Selling Concept: The above discussed concepts are
focused on products and their production process
whereas this concept if focused on the selling process
which is selected by the business firms. This concept
works on the idea of selling the products at a large scale
so that the products of the firm can be provided to
customers effectively. The companies needs to improve
their promotional efforts and strategies so that the
product can be provided to a large number of customers.
In this concept, The companies needs to provide the
priority to sales Transactions for improving the profit.
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Marketing Concept: This concept is focused on the
customers and the strategies developed by the firm are
emphasised on the customers and their needs. This
concept use the pull strategy through which brands can
improve their competence. This concept use the
philosophy of “sense-and-response” which states that
companies needs to develop the products according to
customers. Societal Marketing Concept: This concept is focused on
offering better value to the society in terms of products
provided to them. This concept is based on the
philosophy of giving back to customers or society.
Current trends
The current trends of the marketing includes the social
media and content marketing. Through the use of social media,
companies are marketing and promoting their products to the
customers based on their interest and preferences which is done
by engaging the customers through these social media platforms
such as Facebook, Twitter and Instagram. Also the firms are
communicating with the customers in an effective manner by
using the social media as a two way communication channel.
The content marketing is useful for the firms in influencing the
customers so that they can purchase the products of the firm.
The companies need to develop innovative and attractive
content in order to ensure successful marketing through the
content marketing. These trends are effectively used by the
Burberry in promoting and marketing their products so that a
large number of customers can be made aware of the products
and services provided by company.
Future trends
There are various future trends which can be grasped by
the business firms in marketing their products so that
information regarding the products and services can be provided
to different customers. These future trends includes the artificial
intelligence and virtual reality which can be proved useful for
the business organisations in future or upcoming time period.
These concept are capable of influencing the mindset of the
customers for purchasing the products provided by the firms.
Through the virtual reality, the experience as well as
satisfaction of the customers can be enhanced as they can
experience the product without being trying due to which they
can determine whether the product is beneficial or not for them.
Through the artificial intelligence, companies can analyse the
huge amount of data in predetermined time period. Also the
company can develop effective strategies based on evaluation of
results obtained through machine learning.
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Roles and responsibilities of marketing function
Marketing department of the Burberry performs several
roles and responsibilities in order to accomplish the
predetermined goals and targets of the company. Some of these
roles and responsibilities are as follows:
Setting Up Strategies: It is the major role of the
marketing department of the Burberry in which they
develop strategies so that the products of the
organisation can be provided to the customers in an
effective manner. Also this department develop the
marketing strategies which are carried out by the
Burberry so that the goals can be achieved in an
effective manner. This department is also responsible for
ensuring that the marketing strategies of the company
are aligned with other strategies in order to reach the
predetermined milestones or targets. This can be
accomplished by developing several campaigns through
which the products can be promoted for ensuring the
organisational success and growth.
Market Research: It is another role which is performed
by the marketing function of the Burberry in order to
provide the products to the customers in an effective
manner. In this, the marketing function of the Burberry
determine the trends, preferences as well as changes in
the mindset of the customers and market so that the
products of the company can be provided to the
customers in an effective manner. Also the marketing
function can determine the market opportunities so that
new products can be developed according to the demand
and needs of the market as well as customers. Through
these products, company can achieve higher competitive
edge over the competitors.
Brand management: It is the main role of the
marketing department of Burberry in which they
develop strategies and policies for improving the brand
image of the firm in the market place. The marketing
department manage and monitor the brand image of the
company in the market as well as among the customers
so that new techniques and methods can be developed
and implemented at the workplace which will assist the
firm in improving the brand image of the firm.
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Analysis of Roles and Responsibilities of Marketing in
context of Marketing Environment and
Interrelationship of Marketing with other Functional
Departments
Marketing department is also beneficial for the
companies like Burberry in determining the marketing
environment. The marketing department of the Burberry also
perform several roles and responsibilities in context of
marketing environment which are discussed below:
Setting Up Strategies: Burberry is operating their
business in several countries due to which the marketing
environment for the company is huge. The marketing
environment of the Burberry includes both external as
well as internal factors which are associated with the
organisation and its offerings. The factors such as
customers, technology, political factors, etc. of the
marketing environment can impact the organisation and
its offerings. So, the marketing department of the
Burberry develop the strategies and policies after
analysing and evaluating the marketing environment
which is helpful for the company in enhancing its
performance and productivity.
Market Research: It is another role of marketing
department which is performed for analysing the
marketing environment. The internal market of the
Burberry includes employees and internal processes,
whereas external environment includes suppliers,
customers etc. The marketing department of the
Burberry is responsible for determining these elements
so that the aspects which can impact the profit, sales and
strategies of firm can be identified so that the strategies
can be developed accordingly.
Brand management: This role is also performed by
marketing department of Burberry in context of
marketing environment. The marketing department of
the Burberry is communicating with the customers for
determining the effectiveness of their products so that
the brand image of the company can improve in the
marketing environment. The marketing department
analyses the branding and promotional strategies of the
competitive firms or their competitors so that improved
strategies can be developed fpr improving the brand in
an effective manner.
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Interrelationship between marketing and other organisational
functions
Marketing is concerned with action of promoting and
creating awareness about the respective company products and
therefore persuades the customers to purchase the products and
fulfil their needs and wants. Therefore marketing activity
cannot be performed alone, it has various interrelationships
among the organisational functions of Burberry which are
explained as follows :
Marketing and Production Department: Production
Department at Burberry is concerned with
manufacturing fashionable outfits, accessories,
fragrances and cosmetics in order to provide customers
products according to the existing market trends. Hence
there is a close relationship between the marketing and
the production department as production department is
responsible for manufacturing the products according to
consumer trends, therefore this function can be
effectively done by marketing department as it can
conducts effective marketing research regarding
demands and wants of the customer and provides
information to the production department and assist in
manufacturing products according to existing market
needs and attains maximum profitability of Burberry.
Therefore this creates a effective relationship between
the to and allows the company to manufacture products
according to the demands of the customers and attains
maximum profitability for the company.
Marketing and Finance Department: Finance
Department is responsible for managing the funds and
distributing the funds to different business activities
within different departments. Therefore Finance
department act as a backbone for Burberry and has close
interrelationship with Burberry. Marketing is
responsible for proper promotion and communication of
the respective company's products as way to create
awareness about company's offering. For this function it
requires large amount of funds so as to promote the
products in the outside market, moreover marketing
department analyses consumer demands and provide
information to the finance department so as to make
necessary arrangement of funds for carrying the
production and meeting the demands of the customer.
This way both the departments are interlinked to each
other and performs their functions in an appropriate
manner and helps in effective management of funds.
Marketing with Human Resource Department:
Human resource department at Burberry is responsible
for attracting and retaining the qualified employees so as
to ensure success and growth of business. Marketing
function analyses the changing demands and wants of
the customers, this led the company to introduce new or
modified products in the market, for this it requires
skilled workforce who can work effectively towards
meeting existing needs of market. This information
generated through marketing function provides
informations to the HR department of Burberry so that it
can effectively hire the skilled manpower according to
the requirement and assist in success of the respective
organisation. Therefore there is effective relationship
between the two in hiring and retaining the qualified
personnels within the company.
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Critical analysis and evaluation of the key elements of the
marketing function and its relationship with other
functional units
Marketing involves various elements which assist the marketing
function in performing their roles effectively. Out of these
several elements, there are some key elements which enables
the marketing department in ensuring that the marketing and
promotion of the products provided by the Burberry are
consistent. These key elements of the marketing function for the
Burberry are as follows:
Research: IT is the most important element of the
marketing function in which the marketing function
conduct market research. The marketing research assist
the organisation in collecting the proper and appropriate
information regarding the products, services, customers
etc. from the outer environment in order to develop and
promote the products in an effective manner. The
market research is also beneficial for the Burberry in
determining the suitable business practices through
which company can achieve higher market share and
profitability at the marketplace. However, the external
environment is dynamic in nature due to which it keeps
on changing according to the trends. This can create
challenges for the Burberry in keeping up with the
dynamic environment. But this challenge can be
eliminated by Burberry through setting up an extra
division whose responsibility is to track the changes in
order to ensure that the marketing research is conducted
properly without facing any issues.
Strategy: In this key element, the data collected through
the market research is evaluate and analysed based on
the relevancy, strategies as well as opportunity. After the
evaluation strategies are developed which should be
implemented in the organisation. This element is
essential for the marketing function in developing the
marketing strategies for carrying out the promotional
and marketing activities of Burberry. However, there are
chances that the developed strategies may not be aligned
with the organisational strategies and the company needs
develop the strategies in such a manner in which the
developed strategies compliment one another for
ensuring the effectiveness.
Planning: This is also an essential element of marketing
function in which the marketing department of the
Burberry develop plans for implementing the developed
strategies. These plans includes financial planning, sales
forecast, distribution and communication channels etc.
But the long term planning in the dynamic and ever
changing environment can be proved risky for the firm
due to which Burberry needs to focus on aspects which
can remain homogeneous for the long term so that the
long terms goals can be accomplished in an efficient and
effective manner.
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It is highly important for the marketing department of
the Burberry to develop close interrelation with other
department of Burberry so as to perform their work properly.
Through this interrelation, Burberry can develop and implement
effective strategies for improving the profit and sales of the
firm. This interrelation is also beneficial in determining whether
other department are following the strategies or not.
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