Submit a marketing report for BURBERRY. For a colleague who has just Essay

Submit a marketing report for BURBERRY. For a colleague who has just been promoted into the position of Marketing Manager within - Essay Example It was established by Tomas Burberry in 1856 as a luxury fashion house. Burberry is in the business of manufacturing clothing, fashion accessories and fragrances. Burberry has turned into an iconic brand by continuously reinventing itself as an exclusive luxury garments line. Burberry has four sub brands under the name- Burberry Brit, Burberry, London, Burberry Prorsum and Burberry Sport. It also has two regional brands namely Burberry Blue label and Burberry Black Label. Burberry is established as a high end, gentlemanly and classic fashion house. Performance The category of women’s wear accounts for 28.6% of the total revenue of the brand followed by the accessories. The introduction of digital marketing increased the sales of the company by 24% across the globe. 64% of the total revenue is generated from its Retail segment which includes more than 174 stores across the world. 29% of the revenue is generated from the wholesale channel and 7% revenue is generated from licensi ng. General Definition of Marketing Marketing is defined as the management process used to identify, anticipate and satisfy the requirements of the customers thereby generating revenues for the business (Brannon, 1998, p.14). Marketing involves all the aspects of pricing, selling, advertising and brand building. Marketing Burberry markets its product range to the target market through three channels: Retail, wholesale and licensing. Burberry sources and markets its apparel and accessories worldwide with huge markets in America, Spain and Asia pacific which brings around 90% of the revenue. The customers are the young millennial group of people who are loyal towards the British luxury brand. Marketing Environment The PEST Analysis of Burberry is done to analyze the macro environmental factors influencing the business. Political: Burberry should pay critical attention to the taxation policies and trade regulations when marketing their product lines outside Europe. The company sources its materials from Europe and thus is not affected by the Yuan-Dollar pegging. Economic: Burberry needs to closely monitor the inflation rates because changes in inflation rate directly impacts on the buying capacity. Social: To invest in the low penetrated markets, Burberry needs to explore the cultural factors in the potential markets (Doyle, 2006, p.15). The brand is established as highly British authentic brand suitable for the European culture. Technological: Burberry has to adopt the new innovative technologies dominating the market like social media marketing and electronic commerce. Burberry was the first luxury fashion house to launch a 3D fashion show. Environmental: Burberry has taken care of proper disposal of manufacturing waste in keeping with the environmental protection laws. The company also uses the recycling technology to benefit the environment. Legal: Burberry tries to be compliant with the legal laws though it faces a continuous problem of counterfeit products which infringes its trademarks. Techniques A SWOT analysis of the company is done to evaluate the internal and external factors affecting the business and its marketing strategies (Kotler, 2008, p.46). Strengths: The strengths of the brand include Strong celebrity endorsements to enhance the brand value. High desirability caused by high price points. A very strong brand reputation. The unique check pattern which is distinctly