Research Proposal: Challenges and Strategies for Burberry Group Plc

This research proposal investigates the impact of current fashion trends on multinational organizations, with a specific focus on Burberry Group Plc. The research aims to identify the challenges faced by Burberry due to these trends and to determine strategies to overcome them. The literature review explores the impact of fashion trends on multinational organizations, the challenges they present (including rapidly changing demands, marketing, inventory management, and pricing), and potential solutions. The research methodology includes both qualitative and quantitative approaches, utilizing primary data collection through questionnaires administered to stakeholders of Burberry Plc and secondary data from industry reports and academic articles. The sampling strategy involves a random selection of 30 stakeholders, and ethical considerations such as authenticity of sources, privacy, and dignity are addressed to ensure the reliability and validity of the research outcomes. The proposal highlights the importance of understanding consumer preferences and adapting business functions to remain competitive in the dynamic fashion industry.

Research Proposal
(Burberry Group Plc)

Introduction
Fresh and new trends today, gives every person an excitement to get
fashionable attire that perfectly match with their lifestyle (Mejías and et.
al., 2019). This put pressure on each and every organisation that deal in
fashion industry to keep updated their products with latest trends. It
would help in not only retaining the targeted customers within business,
but also aid in generating high revenue as well.

Rationale of research
The main aim behind conducting a research on present topic i.e.
Challenges of latest trends on multinational firms, is to enhance
knowledge regarding with how today’s organisations cope up and
updated its business with changes in external environment (Flick, 2015).
It would help project makers in enhancing their knowledge and academic
skills.

Research aims and objectives
Research Aim:
“To determine the challenges faced by multinational organisations
due to current trends in fashion industry.” A case study on Burberry
Group Plc
Research Objectives:
To identify the impact of latest trends on multinational organisations in
fashion industry
To determine the challenges that faced by Burberry Group Plc due to
change in trends
To ascertain the strategies that will help Burberry Group Plc to overcome
from challenges of latest trends in fashion industry

LITERATURE REVIEW
Literature review is the most important part of a research, where in-
depth investigation is done by taking a number of secondary resources
(Sauvant, 2019). It includes books, articles, journals, company’s business
report, industrial statistical and theoretical data etc. Under present
research, articles and fashion industry reports are used, for gathering
secondary information.

Theme 1: Impact of latest fashion trends on
multinational organisations
According to Mejías and et. al. (2019), it has been evaluated that
trends in fashion changes continuously, where increasing demand of
customers to get more trendy clothes and other attires forces companies
to offer more unique products. With advancement of technologies,
emerging concept of globalisation and movement of organisations across
countries, make changes continuously in internal and external
environment of business, in terms of production. To match lifestyle of
people and offer them fresh trendy clothes helps both national and
international companies, to retain their customers longer period of time.

Theme 2: Challenges of latest fashion
trends on multinational organisations
As per views of Hur and Cassidy (2019), it has been identified that with
opportunities to retain customers in business, by updating organisation with
latest trends of fashion industries, a number of challenges has also been arisen.
It includes fast changing demands of people for purchasing fashionable
products as per their budget; marketing business; managing inventories; making
decisions regarding with prices to maintain competitiveness, customer
acquisition and more. With respect to Burberry Plc, as it offers high quality of
trench coats and attires to customers, where making changes in design, fabric
and any aspects, may affect products’ quality

Theme 3: Ways to overcome from
challenges of changing fashion trends
As per theoretical perspectives of Wu, Ma and Liu (2019), it has been
analysed that to change business according to latest trends arise a
number of challenge for organisations. Therefore, it is suggested to
management of Burberry Plc., to emphasis more on identifying what its
targeted audience prefer more, i.e. either attires of high quality or more
trendy, so that proper decisions can be made for modification in business
function. For keeping business update with new trends of fashion, this
brand needs to determine choice of both national and multinational
customers, in order to understand this metric.

Research Methodology
Research methods and approaches
A number of techniques and research methods are going to be applied
under present project which is based on trends in fashion industry. It
includes approaches such as quantitative qualitative and mixed research
methods, that helps in getting several different techniques to make a
project (Mejías and et. al., 2019). Qualitative research is used to conduct
theoretical study while quantitative is for numerically analyse the
information.

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Data collection techniques
For conducting the present research, both primary as well as
secondary sources are going to used, for addressing research questions
adequately. Under this process, primary research will be conducted
through a self-questionnaire method (Flick, 2015). This questionnaire
will be filled up by stakeholders of Burberry Plc, which would help in
analysing their view points on impact, challenges and strategies to
update business with current trends of fashion.

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Sampling: To conduct the present project, entire stakeholders
including managers, employees and others of Burberry Plc are
chosen as major respondents. As this company is considered as
one of the largest fashion retailer of UK, therefore, 30
stakeholders as main participants are selected by using random
sampling technique (Alvstam, Ivarsson and Petersen, 2019). This
would help in giving each and every stakeholders equal chance to
being selected in primary research.

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Ethics, reliability and validity: Since making a project on a vast concept
seems not to be as easy for any researcher, because, it requires effective
research skills especially for maintaining ethics and reliability.
Therefore, before gathering information, project makers are going to
concern on those concepts that may affect reliability of research
outcomes and arise ethical issues (Sauvant, 2019). It includes
authenticity of secondary sources, respect for privacy as well as dignity
of every respondent who are being included in primary research. This
would help in developing and maintaining effectiveness of research
outcomes.