BTEC Unit 2: Marketing Processes and Planning - Benchmarking Report

This report, prepared for a BTEC Higher National Diploma in Business (Business Management) unit on Marketing Processes and Planning, conducts a process benchmarking analysis of two luxury fashion brands: Chanel and Dior. The report begins with an introduction outlining the importance of marketing in achieving business objectives and sets the stage for comparing the marketing strategies and marketing mix elements of both brands. It provides overviews of Chanel and Dior, including their brand missions and visions, and then delves into a comparative analysis of their marketing strategies, including their business and marketing objectives. The core of the report compares the extended marketing mix of both brands, evaluating their tactical approaches and how these contribute to their success. The analysis aims to identify best practices that can inform the development and launch of a new "luxurious" product line. The report concludes with justified recommendations on what the company can learn and deploy as it plans its marketing strategy for a new luxury product.