Marketing Plan Strategies for Burberry Group Plc (Research Paper Sample)

Strategic Marketing Plan for Burberry Group Plc
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Introduction
A strategic marketing plan identifies the goals and objectives of an organization, its industry environment, the target marketing audience and how an organization intends to implement its marketing strategy. According to Đokić (2016), a strategic marketing plan outlines the main tools a company will use to reach its target audience and the main message its marketing campaigns will carry. This paper presents a strategic plan for Burberry Plc and critical metrics that will be used to evaluate its effectiveness.
Background
The Burberry Group Plc is a luxury fashion brand that manufactures and distributes a variety of fashion items. The company is mainly known for its famous trench coats but also manufactures cosmetics, outwear and fashion accessories. The company's mission is to put customers first and be open to new ideas that can improve the customer experience. The company's strategy is focused on innovative practices that enable it to continuously improve the quality of its products and match customer expectations.
Strategic Marketing Plan
Mission
The main objective of the marketing campaign is to create awareness about the different products offered by the company. Currently, the company is mainly known for manufacturing trench coats, even though it has a wide range of fashion items for different customer needs CITATION Fer14 \l 1033 (Fernandez, 2014). Essential products made by the company that are currently not popular include cosmetics, outdoor wear, fashion accessories, fragrances, and sunglasses. Creating awareness about these products in markets that the company operates in can significantly grow its market share since it's a well-known brand associated with quality.
Situation Analysis
SWOT Analysis
A vital strength of the company is its reputation for quality. As a result, the company's products are associated with quality by consumers (Khelladi & Castellano, 2019). This makes it easier to favourably position new products made by the company among its target audience. In addition, the company's brand name is associated with luxurious and high-quality products, which also makes it easier to market its less known products in markets it currently operates in.
The company also has a highly efficient research and development program that enables it to continuously improve its products in line with the market's changing needs. According to Santamaria (2018), Burberry fashion research is among the most comprehensive in the UK. This means its products are always meet customer demand, which also makes it easier to market its less prominent products.