Marketing essentials refers to the process of creating, delivering and promoting such type of goods and services that may fulfil demand of customers. There are various promotional and marketing activities are performed by the organisations to grab attention of the customers so that they may expand their business. Taste and preferences of customers changes with time hence it is very important for the service or products providing business enterprises to consider their actual need and demand. This may help to increase profitability and set a positive image of company in minds of customers. This report is based on Burberry's marketing essentials. Headquarter of the organisation is in London, England which is a British lux
Various topics are discussed under this assignment that are key roles and responsibilities of marketing functions, the way in which all of these are related to wider organisational context, different manner in which organisations are applying marketing mix to marketing planning in order to achieve business objectives. A detailed marketing plan has also been discussed under this report.
Key role and responsibilities of marketing functions
Marketing functions can be defined as the activities that are performed by the research team of an organisation while promoting products or services. It is very important for the marketing teams of the companies to perform all the marketing functions effectively so that predetermined goals can be attained. As Burberry is a large business enterprise which is established in London. For all the concerned persons of marking team of the company have to perform all their duties effectively so that a good marketing plan may result in favour of the company and also help to attain the goals that are profit maximisation and customer satisfaction. Detailed explanation of such functions are as follows:
While a organisation is willing to launch a new products or want to target their prospect customers than it is very important for the marketers of the company to make effective plan so that it may help to market the product. As Burberry is a large company hence it is very important for the company to plan all the marketing activities effectively so that it may result in achievement of all the business goals. If marketers of the company are not able to form an effective market plan and the planning is not very effective than this may create issues for organisations. These issues are decreased interest of customers, increased competition in the market etc.
It includes the buying and selling of goods and services. These functions are are very helpful for Burberry as they help to assure that the products that are offered to customers are available in sufficient quantity and are able to satisfy the needs to them. All of them are supported by various activities such as advertising, sales promotion and personal selling. If marketers are not able to perform these functions effectively than it result in decreased sales and number of customers because exchanges are directly related to customers.
It can also be defined as the method which is used by the organisation to provide products to the customers. These type of functions are related to storing and transporting activities of Burberry because it is essential for the company to make effective plan for product distribution as this may help to expand business in different regions. Such functions are required to be performed with higher involvement because a small mistake can affect negatively.
Customers are considered as the king of the market and for every company it is very important to grab their support because this may help to acquire higher market share. Burberry is having higher level of customers support which is because of its product quality which is very good and organisation also consider the demand and needs so that it may offer products that they are willing to buy. Changes in customer's demand are natural because when one needs is fulfilled than another take place which is for a new product or service. It is very important for the organisations to have customer support as they are main source of funds.
Marketers of a company have to collect market information which is required to formulate a marketing plan so that the company may aware customers about their product or service which has been launched in the market or already available. Burberry is a large brand and it is very important for the company to follow current market trends that may help to increase the sales and profits and also lead the organisation toward success. Right market information can help to formulate effective strategies for all the promotional activities and to select the market segment where it is required. In situation of improper marketing information companies may have to face issues like reduced sales and profits.
Packaging, labelling and branding
These are the three main functions that are done to make the product attractive. Packaging is the process of designing package for product, labelling refers to add a label to the product that may describe it in one word. Branding is the process of giving a particular name or symbol to product. All of them are performed effectively by the marketers of Burberry which helps the company to to be in list of priorities of customers.
Product designing and development
Such type of functions are used to make the product more attractive for the buyers. Burberry is having various competitors in the market who are trying to acquire market share of the company. Effective performance of these functions can help the organisation to be more competitive in market.
It is one of the essential marketing function and marketers have to take risk on different level to get good results of actions. If an organisation is willing to be successful than it is very important or it to take risks because risks may result in achievement of goals. This is possible with the help of proper research of market in which all the information is available which is required to make decision to take risk or not. Marketers of Burberry take risks and than it results positively for them because they gather proper and effective information of market which guides them throughout the way of success.