Harnessing Marketing, Sales, and Negotiation Tactics for Success: Bulgari

QHO423 Marketing, Sales and Negotiation skills
Harnessing Marketing, Sales, and Negotiation Tactics for Success: A Case Study of Bulgari
Word Count: 1660 Words
Student ID: XXXXXXX
Introduction
Marketing is the process of developing, delivering, and communicating value to customers, clients, partners, and society at large. Marketing aims to create and maintain customer relationships so that the business can achieve its goals and objectives. Marketing is the bridge between the customer and the business, helping the business to understand and meet the customer's needs (Kim, Park and Shrum, 2022). It is responsible for building a brand, creating demand for products and services, informing customers about the business and its offerings, and driving sales.
Bulgari is an Italian luxury fashion brand with a focus on leather goods, jewelry, watches, fragrances, and accessories. The Bulgari brand is known for its timeless elegance and sophistication, which is reflected in its signature pieces (Hosny, Eladly and Morsy, 2020). Founded in 1884 in Rome, the company is now a global brand with a presence in more than 90 countries. Bulgari has a long-standing tradition of excellence in craftsmanship and design and is committed to offering unique and innovative products to its customers (PELTEKOĞLU, 2019).
The role of marketing in Bulgari is extremely important. Through marketing, Bulgari can communicate its values and unique point of view to its customers and promote its products to a wider audience. Bulgari can also increase its sales and attract more customers through effective marketing. Marketing is also used to support Bulgari's organizational objectives. For example, Bulgari uses marketing to drive innovation and creativity, create brand loyalty, and build customer relationships (Joy et al., 2022). In addition, Bulgari uses marketing to increase its visibility and presence in the market, identify new opportunities, and create a strong customer base.
PESTEL and SWOT Analysis
The term "marketing environment" refers to the outside forces and variables that have an impact on a company's capacity to create and sustain fruitful client connections. They include the forces that shape the marketing environment in terms of economics, politics, society, technology, law, and competition. An analysis method called PESTEL, which stands for Political, Economic, Social, Technological, Environmental, and Legal, is used to find and evaluate the outside elements that can affect a company's success (Kim, Park and Shrum, 2022). It aids in identifying prospective dangers or advantages that could have an impact on a company's operations. Strengths, Weaknesses, Opportunities, and Threats (SWOT) is a strategic planning method used to assess how competitively positioned a company is in its market. It assists in determining the internal and external elements influencing a company's performance. Understanding the marketing environment and creating winning strategies can be accomplished with the help of PESTEL and SWOT analysis.
PESTEL
Political factors have a significant impact on the Bulgari Company. Political factors such as government regulations, taxatio...