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1. Introduction of Burberry plc
Burberry Group Plc commonly known as Burberry plc is British retail fashion organizations which are headquarter of the organization situated in Westminster, England. The retail organization started its operation activities in the year 1856 and the motto of the organization is to explore the UK market with the help of increasing the quality of its products. The products and services of Burberry plc are leather goods, eyewear, cosmetics, footwear, fragrances and many others. The organization was founded by Thomas Burberry and the executive procedures that had been implementing the organization were to explore the several opportunities of the family-controlled company. The retail organization opened its first outlet in London in the financial year 1891 as it maintains several important factors in its business activities.
The industry of the organization is mainly focused on changing the trends and the quality of the products as it helped in managing the financial strategies to explore the financial activities. The development of the financial activities and the management has to be maintained for its policies to develop its operational activities. The total number of employees currently working within the Burberry plc is 984 in the financial year 2021 which was previously observed as 421 in the year 2020 as it means that the organization has implemented its business strategies to improve its operational activities. The revenue of the organization has been observed as £2349.9 million in the year 2021 as it means that the proper evaluation of the managerial activities has helped in generating the managerial activities of Burberry plc.
2. Discussion of the scope and international marketing framework of the organization
The areas of international marketing visualize the prospects of broader market availability, the level of the competence has been increased which generates the certain areas to improve the quality of the products of Burberry plc. As opined by Tien et al. (2019), increase in the exporting activities more than the importing activities can help in measuring the financial activities of the business. The prospects of the fully owned manufacturing activities can be considered as adequate in developing the dynamic of the present market scenario of the organization. The relevant scope of international marketing is to assess the global market demands as well as exploring certain opportunities for improving its operational activities (www.burberryplc.com, 2022).
The classification of the financial techniques and the development of the total volume of the exporting activities have helped in maintaining developmental activities of the business. As narrated by Donthu et al. (2021), the concentration of growth of the management and the development should need to be made based on the promotional activities of the business. One of the prominent impacts of international marketing in Burberry plc is that it helped in increasing the selling activities of its goods and services to a wide range of customers on a global basis. The overall performance of the businesses will be improved as well as the marketing strategies of the organization have been uplifted to develop the financial strategies (www.burberryplc.com, 2022).
3. Clear execution of the rationale of the Burberry plc
The key issues that have been observed in the financial strategies of Burberry plc is the unavailability of certain opportunities to expand its distribution channel globally. Selection of the necessary route and the managerial prospects would help in managing sustainable growth in managing activities for making its promotional activities. As narrated by Hult et al. (2018), the evaluation of the financial activities of the business can be able to develop the financial activities of the business. Estimation of the financial activities and the development of the business are considered as two main areas of the business. The classification of the financial results and the mitigation of the financial results should need to be properly focused and the attention should need to be paid for promoting its business policies (www.burberryplc.com, 2022).
The present financial condition of Burberry plc can be improved with the help of managing the financial policies and concentrating on the scope and opportunities of international marketing. As explained by Paul and Mas (2020), the selection of the financial procedures and the business opportunities should need to be developed for the growth of the business activities. Motivation and the application of the large-scale operational activities observed as crucial financial development into the business. The mitigation of the operational challenges of its business is considered as effective to implement the financial activities of the business.
4. The evaluation of the various routes of international marketing
Selection of the effective route of international marketing can help in channelizing the operational resources of the business to evaluate the financial policies and schemes of the business. The classification of the financial issues and the effective evaluation of the financial growth should need to be maintained for a fixed period of time. Global marketing is the one of the best routes for concentrating into the prospects of international marketing. As narrated by Li et al. (2018), the development of the managerial pattern and paying the rapt attention towards maintaining the proper financial growth in its business can help in managing the financial policies into the business. The advantage of limitless marketing and the identification of the opportunities of the foreign marketing trends can help in developing the financial policies of Burberry plc (www.burberryplc.com, 2022).
The evaluation of the various types of the circumstances, it can be reflected that the reduction of the total costs of the business as well as the mitigation of the sales potential activities can be made effectively to make managerial activities of the business (www.burberryplc.com, 2022). The profitability of the business can be increased as well as the business activities of the organization increased. As narrated by Nagy et al. (2019), the visualization of the trade surplus into the business has helped in exploring certain opportunities related with exploring the financial schemes of Burberry plc. A wide range of credit facilities can be evaluative in developing the financial procedures of the business.
5. Exploration of the challenges and opportunities for international marketing
One of the major advantages of international marketing is that expansion of the business can be effective and develop the financial volume of the business. The economic condition of an organization should need to be improved as utilization of the financial policies can be developed. As narrated by Jadhav et al. (2022), the development of the employment opportunities can be generated as it can be able to improve the financial condition of the business. The improvement of the exchange rate volatility and organizational decision activities made a sustainable impact in promoting the operational activities of the business (www.burberryplc.com, 2022). The development of the promotional factors and concentrating on improving the market entry decisions can be effective for managing the crucial factors into the business.
Increase in the volume of the market share and the customer base is affected due to the selection of the exporting international market routes (Albaumand Duerr, 2011). Many consumers desire to purchase a specific brand which is affected as they are not able to show their interest regarding the financial growth and improvement into the business activities. As explained by Fonseca and Rocha (2021), the development of the business activities and the classification of the business activities should need to be implemented adequately to figure out the financial procedures of a business. The maintenance of the diversified approach and the selection of the foreign investment opportunities have several impacts in uplifting the financial growth and business policies into the organization (www.burberryplc.com, 2022).
6. Justification of the selection process and key criteria considered by the organization for the international marketing
The international marketing prospect of exporting has been segregated into five different stages to complete the requirements of the business (www.burberryplc.com, 2022). The visualization of the domestic market establishment and the improvisation of the financial activities should help in developing the financial aspects of the business. As explained by Tien et al. (2019), the improvisation of the financial activities and the evaluation of the schemes should need to be developed adequately to explore the financial activities over a fixed period of time. Export planning and research is the second stage of exporting international marketing. The initial export sales have made its sustainable financial policies should need to be maintained in such a manner as it maintains exporting success in its business.
7. Explanation of the different marketing strategies used by the Burberry plc
The different types of the marketing strategies that can be implemented within the business as undercover marketing, freebie marketing, social media marketing, niche marketing and cross promotional marketing as it is said to be one of the main aspects of maintaining the financial prospects of the business. As stated by Reimann et al. (2021), the development of the business activities and the projection of the business should need to be maintained in such a manner as it can help in managing the total volume of the operational return of the business. The financial schemes and the identification of the policies of the business should need to be effectively developed as it can help in figuring out the requirements of the organization (www.burberryplc.com, 2022).
8. Advantages and disadvantages of the each and every business strategy
The advantage of cross promotion strategy is that it helped in reaching towards a sustainable number of the consumers (Albaumand Duerr, 2011). The overall brand value as well as overall advertising expenses can be minimized with the help of using the cross promotional strategy. As narrated by Shin et al. (2018), the identification of the right measures is not effectively observed with the help of the cross promotional strategies of the business. The costs associated with the outbound marketing are lower than that of the inbound marketing as it can be observed through the improvisation of the business. An evaluation of the actual inbound from the marketing activities and the evolution of the major activities should need to be properly maintained to figure out the relative financial tactics of the business for a frequent number of years (www.burberryplc.com, 2022).
9. Market evaluation criteria and the business strategies of Burberry plc
The various prospects of the market criteria have been directly interconnected with the selection of the different products and the various systems should have to be implemented strategically. As opined by Ozdemir et al. (2020), the maintenance of the financial growth analysis and the evaluation of the various types of the market condition have played a crucial role for developing the business activities. The improvement into the total volume of the economic activities in the Burberry plc can be adequate in developing the financial activities of the organization (www.burberryplc.com, 2022).
10. Recommendation for selecting particular business strategy for Burberry plc
Social media marketing is considered as one of the effective business strategies that can help in managing the development into the total sales volume of the business. As narrated by Tien et al. (2019), the development of the overall customer base can help in maintaining the financial development in its business. The application of social media marketing has helped in making the customers’ more aware about the brands and qualities of the products. Moreover, it helped consumers more effectively to improvise the financial pattern and measures of the sustainable activities in its business (www.burberryplc.com, 2022).
11. Conclusion
Based on the above discussion, it can be concluded that time-based events, physical goods, properties and the marketing experiences are four major aspects of international marketing. The application of the international marketing framework has helped in making a sustainable impact in improving the financial activities of the businesses. Based on considering the present financial condition and future economic opportunities can help in maintaining sustainable business activities. The exporting international marketing suits the most for the operational activities of the Burberry plc. On the other hand, the evaluation of the social media marketing can be considered as one of the effective approaches that can help in developing the financial policies and the managerial schemes within the company.
Overview of the key arguments in local vs global debate
One of the major positive aspects of selecting the global marketing pattern as it can help in generating a wide range of demands from the international market. In local marketing, the overall demand for the products and services have been said to be limited and the percentage of increasing the total number of the customers is being limited (Tien et al. 2019). The evaluation of the financial schemes and the evaluation of the financial techniques can help in developing the potential aspects into the business. However, for the purpose of protecting the overall decorum of the business and maintaining stability into the demand and supply of the Burberry plc, the global approach should be adopted (Paul and Serrano, 2019).
Investigation of the product, pricing, distribution and promotional approaches
The perspective of international marketing is that the quality of the products should be justified as it should be prepared based on making comparative analysis about the competitors (Chuah et al. 2021). The development of the business strategies and the managerial perspective have to be developed that can help in maintaining the product and pricing strategies of the business. The pricing strategies of the international market should be familiar with the products observed in the other companies (Alguacil et al. 2020). However, it has been evaluated that the evaluation of the promotional and distribution approaches has made a significant impact in evaluating the selling activities of Burberry plc.
Identification of suitability of accessing local or global approach within an organization
The concentration of selecting the global or local approach is directly interconnected with the measurement of changing the financial pattern and procedures of the business (Sukaris et al. 2020). The evaluation of the financial problems and the maintenance of the sustainable volume of demand into the market have helped in developing the financial strategies and improvement into the operational activities of the Burberry plc. The constant focus into the global approach into Burberry plc helped in improving the profitability of the business as well as improves the operational structure of the organization (Wang et al. 2020).
Selection of global approach in Burberry plc
One of the main reasons behind selecting the global approach is that it helped in making entry into the new markets (Alguacil et al. 2021). The company is going to explore its financial activities with the help of developing the financial growth perspectives of the business. The increase into the business growth and the accessing the local talent can be evaluative in nature as it can help in maintaining the financial development into the upcoming two or three years (Ulmerich, 2021).
Determination of the marketing mix in Burberry plc in accordance with different international markets
The marketing mix of the Burberry plc has been evaluated based on evaluating the set of operational activities into the business (Amor et al. 2022). The evaluation of the tactics and promotion of the brand awareness of the business helped in increasing the total worth and shareholders worth of the business. The analysis of the financial requirements and the evaluation of the financial strategies into the business can help in evaluating the financial strategies of the business (Darban, 2021). The three other steps for setting the marketing mix are design, adaptation and testing of the financial activities for setting the marketing mix of the business.
Explanation and analysis various marketing approaches
The international marketing approach has been divided into four major heads based on which the financial decisions and the managerial activities of the business are being evaluated (Ulmerich, 2020). The perspective of the commodity approach is that it relies on measuring the growth and development of the quality of the products or services. The other important international marketing approaches are institutional, decision making and functional approaches that can be considered as evaluative in nature (Pzsqe, 2020). The projection of the business and the execution of the financial measures can help in managing the financial activities of the business.
Comparison of international and home orientation for assessing the competitors
Significance of using the home orientation into the Burberry plc is that it helped in making the financial growth and estimation of the financial activities for a sustainable number of years (Tien et al. 2019). However, the importance of using the international orientation is that it helped in assessing the total volume of growth into the products for a frequent number of years. The managerial decision of selecting the home or international orientation has to be made as it can explore the growth opportunities into the upcoming years (Paul and Serrano, 2019).
The factors for considering the international orientation for Burberry plc
The necessary factors which have been selected for the purpose of assessing the international orientation are that the growth opportunities are wider in Burberry plc (Wang et al. 2020). The evaluation of the managerial development and the evaluation of the financial strategies can be considered as sustainable in developing the financial programme and accessing the operational activities of Burberry plc (Sukaris et al. 2020)
Evaluation of various marketing approaches with comparative analysis
Based on elaborating the conceptual idea and the financial analysis of the different factors, it can be evaluated that there are three important marketing approaches observed in comparative analysis (Ulmerich, 2021). The approaches are consumer marketing, social marketing and business to business marketing. The estimation of the business issues and the classification of the marketing policies can be properly estimated with the help of using the consumer marketing approaches. In contrast, the business-to-business approaches are directly indulged with managing the potential financial activities and estimation of the financial measures of the business (Amor et al. 2022). Classification of the social marketing factors and development of the financial issues should need to be properly assessed with the help of using the social marketing approaches.
Recommendation to Burberry plc for maximizing the opportunities in entering international markets
The operational activities of Burberry plc are directly indulged with the consumer centric as it seems that the whole business strategies of the organization should need to be related with the consumers (Darban, 2021). Hence, the selection of the relative measures into the business can be considered as adequate and sustainable to promote operational activities into the business. The development of the business activities can be possible as the consumer marketing approaches have helped in improving the selling activities of the business (Ulmerich, 2020). In further, it facilitates in completing the marketing opportunities and the evaluation of the financial policies of the business.
Journals
Albaum, G and Duerr, E (2011) International Marketing and Export Management. 7th Ed. Harlow: Pearson.
Alguacil, M., Núñez-Pomar, J., Calabuig, F., Escamilla-Fajardo, P. and Staskeviciute-Butiene, I., 2021. Creation of a brand model through SEM to predict users’ loyalty and recommendations regarding a public sports service. Heliyon, 7(6), p.e07163.
Alguacil, M., Sánchez-García, J. and Valantine, I., 2020. Be congruent and I will be loyal: the case of sport services. Sport in Society, 23(2), pp.234-248.
Amor, J.S.C., Alguacil, M. and Gómez-Tafalla, A.M., 2022. Gender influence on brand recommendation at an esports event. Journal of Physical Education and Sport, 22(1), pp.231-238.
Chuah, S.H.W., Sabri, M.F. and Basha, N.K., 2021. Go loud or go home? How power distance belief influences the effect of brand prominence on luxury goods purchase intention. Journal of Retailing and Consumer Services, 58, p.102288.
Darban, M., 2021. Understanding the Perception of Information System Niche: Conceptualization, Measurement, and Validation. Australasian Journal of Information Systems, 25.
Donthu, N., Kumar, S., Pandey, N. and Lim, W.M., 2021. Research constituents, intellectual structure, and collaboration patterns in Journal of International Marketing: An analytical retrospective. Journal of International Marketing, 29(2), pp.1-25.
Fonseca, L. and Rocha, A.D., 2021. Rethinking offshoring and international marketing strategies during the COVID-19 pandemic. Revista de Administração Contemporânea, 25.
Gnizy, I. and Shoham, A., 2018. The power of international marketing functions: antecedents and consequences. Journal of Business-to-Business Marketing, 25(2), pp.67-89.
Hult, G.T.M., Hair Jr, J.F., Proksch, D., Sarstedt, M., Pinkwart, A. and Ringle, C.M., 2018. Addressing endogeneity in international marketing applications of partial least squares structural equation modeling. Journal of International Marketing, 26(3), pp.1-21.
Jadhav, S., Kumar, A. and Brar, V., 2022. Issues impacting sales promotion in international marketing. International Journal of Multidisciplinary: Applied Business and Education Research, 3(6), pp.1159-1163.
Li, R., Liu, Y. and Bustinza, O.F., 2018. FDI, service intensity, and international marketing agility: The case of export quality of Chinese enterprises. International Marketing Review.
Nagy, M., Bennett, D. and Graham, C., 2019. Why include the BOP in your international marketing strategy. International Marketing Review, 37(1), pp.76-97.
Ozdemir, S., Gupta, S. and Kanungo, R.P., 2020. International social entrepreneurship and social value creation in cause-related marketing through personal relationships and accountability. International Marketing Review.
Paul, J. and Mas, E., 2020. Toward a 7-P framework for international marketing. Journal of Strategic Marketing, 28(8), pp.681-701.
Paul, J. and Rosado-Serrano, A., 2019. Gradual internationalization vs born-global/international new venture models: a review and research agenda. International Marketing Review.
Pzsqe, C.Y., 2020. Cosmetic Brand Preference and Purchasing Behavior: Comparison of Thai And Chinese Domestic Brands (Doctoral dissertation, Rajamangala University of Technology Krungthep, International College,).
Reimann, C., Carvalho, F. and Duarte, M., 2021. The influence of dynamic and adaptive marketing capabilities on the performance of Portuguese SMEs in the B2B international market. Sustainability, 13(2), p.579.
Shin, M.M., Noh, E.J. and Lee, J., 2018. Study abroad programs as a service convergence: an international marketing approach. Service Business, 12(2), pp.253-275.
Sukaris, S., Hartini, S. and Mardhiyah, D., 2020. The effect of perceived value by the tourists toward electronic word of mouth activity: the moderating role of conspicuous tendency. Jurnal Siasat Bisnis, pp.1-17.
Tien, N.H., Dat, N.V. and Chi, D.T.P., 2019. Product policy in international marketing comparative analysis between Samsung and Apple. International Journal of Research in Marketing Management and Sales, 1(2), pp.129-133.
Tien, N.H., Phu, P.P. and Chi, D.T.P., 2019. The role of international marketing in international business strategy. International journal of research in marketing management and sales, 1(2), pp.134-138.
Tien, N.H., Phu, P.P. and Chi, D.T.P., 2019. The role of international marketing in international business strategy. International journal of research in marketing management and sales, 1(2), pp.134-138.
Ulmerich, L., 2020. Moderators of the self-congruity effect on consumer decision-making: A pre-registered study protocol for an updated meta-analysis.
Ulmerich, L., 2021. Moderators of the self-congruity effect on consumer decision-making: An updated meta-analysis (Master's thesis, PsychArchives).
Veloutsou, C., Christodoulides, G. and Guzmán, F., 2021. Charting research on international luxury marketing: where are we now and where should we go next?. International Marketing Review.
Wang, W., Chen, C.H.S., Nguyen, B. and Shukla, P., 2020. Collaboration between East and West: influence of consumer dialectical self on attitude towards co-brand personality traits. International Marketing Review, 37(6), pp.1155-1180.
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