Marketing Essentials: Burberry Case Study and Marketing Plan Report

This report provides a comprehensive analysis of marketing essentials, focusing on the application of the marketing mix and its strategic implementation within the context of Burberry, a luxury fashion brand. The report delves into Burberry's product offerings, pricing strategies, distribution channels, and promotional tactics, comparing them to those of Christian Dior to highlight key differences and similarities. It examines the tactics employed by Burberry, including market segmentation to target specific consumer groups, and outlines the formulation of a basic marketing plan. The report also includes a SWOT analysis of Burberry, identifying its strengths, weaknesses, opportunities, and threats. Furthermore, it details the marketing mix for a hypothetical new product, Sun Skincare Cream, and presents an implementation plan for its promotional launch, including budget considerations. The conclusion emphasizes the importance of marketing in building customer relationships and achieving business objectives. The report draws on various academic sources to support its findings.

Marketing Essentials

Table of Content
• Introduction
• Application of marketing mix
• Tactics applied by Burberry
• Formulation of basic marketing plan
• Conclusion
• References

Introduction
Marketing refers to examination and management of exchange
relationships. It is a business process for creation of relationship with
customers and fulfilling their requirements. It is the science and art of
exploration, creation and delivering value to customers by which wants
of target market can be fulfilled with high profit.

Application of marketing mix
Marketing-mix is the process of the various strategies and plan of
actions that a firm uses to promote and advertise their product in the
marketplace. This includes the various areas to focus as part of
comprehensive marketing plan. This is made up of 7P's which named
as Product, Price, Place, Promotion, Physical evidence, Process, people,
etc.

Cont...
Below is the difference of marketing mix of both companies -
7P's Burberry Christian Dior
Product The firm is dealing with fashionable
and luxurious products and this is
popular and has the good reputation
because of the design of the
fashionable product they are selling
to their customers, just like the
Tartan pattern design is very popular
and only created by the founder of
Burberry (Marketing Mix, 2017).
This business enterprise is dealing
with the fashion interrelationship
between marketing and other
organisational functions.
accessories, skin care products,
Fragrances and leather goods, etc.
This is very popular in selling the
perfume and DO of their firm,
example – Poison and Miss Dior are
the famous fragrances for women's
and girls, along with this, Higher
Cater and Jules are popular
fragrances of men's and Boys.

Cont...
Price As it is known that Burberry is
offering all the fashionable and
Luxurious products, so the price of the
goods or products are higher than the
standard price, as this is for the
customers who prefer to have the high
quality products rather than price.
They use both low pricing strategies
and also premium pricing strategies
for their products and service. This
depends on the product they are
offering to their customers.
In context with the Dior, this also have the premium price policy as
they provide high quality products with more innovation in them, as
by making the trust over the customers and by having the positive and
good relationship with their loyal customers.
Place The firm is selling their products in all
over the world, and having around 500
outlets in the global market. They are
having the dealership with the third
party and that party help the firm to
sell their products by using latest
technology and in efficient manner so
that the product of Burberry can be
exploit to more and more customers
(Wirtz and Lovelock, 2016).
This firm is having more capability to sell their products alone in the
global market. They are selling the products in all over the world but
having the outlets only in 210 countries, which are named as Beijing,
Paris, London, New York, etc.

Tactics applied by Burberry
The firm Burberry is dealing and selling their products in all over the
world and having their presence in the global market. They all follow
and adopt the carious different strategies or plan of actions by which
they can be able to attain the desired goals and accomplish the positive
outcomes. Among all the strategies one of them is market segmentation
by which they can be able to target the requirements and wants of the
customers.

Cont...
In this, Burberry will target the adults and youth who are having the
interest and are very fond of buying then fashionable products. Below
is the process of market segmentation of Burberry -
• First stage is to identify the needs and demands of the
customers, which the firm has targeted such as youth and adults.

Formulation of basic marketing
plan
The marketing plan is a type of document which measure and evaluate
the all marketing efforts of the firm. This is a type of blueprint that
defines that how the company will going to apply their marketing
strategy and use the aggregation of resources to attain the desired goals
including the targeted sales and the acquisition of customers.

Cont...
Summary of the organisation Burberry
In the present report, Burberry is the chosen organisation which is
British luxury house company and headquartered in London, England
by Thomas Burberry. The firm mainly deal in the ready-made wears,
fragrances, goggles or shades, cosmetics and fashionable products,
etc..

Cont...
SWOT analysis of Burberry
Strength – This is the largest fashion company in UK
which offers and sells the fashionable and luxurious
products along with this they are having the large
network of wholesale and licensing channels in the
global market. Also the firm is having their presence by
their approx 500 outlets in more than 50 countries. In
addition with this, they are having around 10,000
employees working in the Burberry company (Groucutt
and Hopkins, 2015).
Opportunities – The firm is having the opportunity of
merging their business with the other firm, by which
they can make their fashion company more affordable.
Along with this by doing more marketing and
advertising, they can enhance their presence in the
global market. Globalisation is also the major
opportunity for the firm to grow their business at global
scale or in international market.
Weaknesses – As the products rates of Burberry is
very high, not everyone can able to buy their products,
this is restricted to the limited people by which they are
having decrement in their market share. Along with
this, the firm is also having the drawback of constant
fight with the cheap and low imitations.
Threats – The major threat of Burberry is having many
rivals in case of price and in case of their visibility.
Also, the firm is having the high cost of their product as
compared to their competitors by which they are losing
their customers. Also this fierce of competition is tends
to reduce the market share of Burberry (Ahrens, 2011).

Cont...
Marketing mix of the Business Plan
The marketing mix is the process of defining the market situations or
conditions before launching any new product in the market. The firm is
evaluating the marketing mix of the newly launched product of Sun
Skincare Cream.