In terms of affordability, Burberry which is presented as ‘accessible luxury’ mainly targets the niche between Polo Ralph Lauren/Giorgio Armani in apparel and Coach/Gucci in accessories (Moon, 2004).
5-5 People
Management
Christopher Bailey who used to be a chief creative officer took up the role of Chief Creative and chief executive officer (Burberryplc.com, 2015). As he does not have any experience working as a CEO before it must cause huge work load to him therefore potential risk for Burberry (Butler, 2013).
Sales associate
As Burberry targeting a Millennial group over the world, there sales associates are also relatively young. 70% of Burberry employees are under 30 with various nationalities (Easton, 2012). Burberry’s sales associates who can work as a powerful brand advocates share a clear picture of the opportunity for the company and understand company’s vision, thus, they understand why ‘trench coat is so important to Burberry (Gersch, 2013). They are
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Burberry seems to overcome several risks which decayed brand value so far and successfully revitalized the brand. However, it seems to centralize its effort on promoting product neglecting after sales relationship which would be essential for repeat purchases (The Economist, 2014). rather than delivering sophisticated experience. 럭셔리는 경험전달이 중요한데 위험함. Even though, Burberry has gathered everything Britishness to promote its brand identity, its home market consumers do not seem to fancy Burberry. Which makes it worse is the fact that it outsource its production from countries like China. These can severely harm its brand identity and subsequently brand value. As many people use luxury brands to represent their social statuses or identities, maintaining brand consistency should be of great importance to companies’ brand management and marketing
Abercrombie & Fitch Co., also known as A&F, was founded in 1892 by David Abercrombie and Ezra Fitch. Its headquarter is located in New Albany, Ohio. May be nobody knew that this apparel retailer was from its beginning a kind of elite outfitter of expensive sporting and excursion goods. The company, with more than two hundred subsidiaries around the world, sells casual apparel for men, women, and kids.
Primark is a subsidiary company of the Associated British Foods (ABF). It was first opened in Dublin in June 1969, which under the name Penneys. Four more stores were launched within a year in Ireland afterward. Currently, Primark operates in over 270 stores in 9 different countries in Europe such as United Kingdom, Germany, Spain, etc. Primark capitalised on the fast-fashion tendency that began in the 1990s as well as the capability to produce garments cheaply in Asia where clothing values fell dramatically (Shawcross, 2014). It offers a diverse range of products which includes kids clothing, menswear, womenswear, accessories, home ware, beauty products and confectionary. According to TNS market research ranking, Primark ranks the second
HanesBrand Inc. produces and sells clothing on an international level. The company website states they are a, “socially responsible manufacturer and marketer of leading everyday basic apparel” (Hanesbrand Inc.). The company is proud that they practice ethical business practices within the workplace. They own the majority of the facilities where their products are manufactured and produced meaning they are able to control the working conditions and wages within the facilities. They are the only apparel manufacturer to be distinguished by the Great Place to Work Institute for the facilities in the Central American and the Caribbean (Hanesbrand Inc.). The company has earned several notifications and awards from organizations
In the past ten years of the company’s great development, Ms Arendts helped Burberry to develop large market of luxury goods. Particularly in China, £70m franchise buyout in 2010 made Burberry get big rewards in the most important market of luxury goods since the year of 2000. She not only made the market value of the company three times bigger, has also kept the company’...
Burberry today is considered one of the leading luxury brands of the word. Here is a synopsis of rise of Burberry:
The principles of marketing (The Times 100, n.d) are a range of processes concerned with finding out what consumers want, and providing it for them. This involves the ‘4ps’ of marketing; price, place, product and promotion. The product decision in any company involves dealing with goods that should be offered to a group of customers (Jobber & Ellis-Chadwick, 2012). Burberry maintains a product line with great width and scope in which their products fall into two main categories; fashion or continuity. Their fashion products are designed to be responsive to fashion trends and are introduced on a collection to collection basis (Burberry, n.d). Continuity products however have life cycles that are expected to last for a certain time period. Burberry also has 3 primary collections; womenswear, menswear and accessories, with the variety of products they can utilize their product mix greatly. Burberry also has...
We propose a branding strategy which takes into account the brands capabilities and competencies, strategies of competition brands and the outlook of consumers experience in their respective societies. As an international brand there is the challenge of staying connected with local customers. We will overcome this by adapting marketing strategy to local needs using a variance of standardized marketing mix and an adapted marketing mix.
The unique heritage and Burberry’s Britishness are the significant resources that contribute to its success and premium price. Strong brand image as part of intangible assets contributes approximately 25% value to the organization in average (Keen 2003). To avoid discount or oversupply, Burberry needs to continue maintaining its long-term brand image (Berends 2004). Also, Burberry has a variety of product lines and attributes to high worth that makes it more competitive
Polo Ralph Lauren the brand has become one of successful brand in America and across the world, as a well-known player in the design and lifestyle industry, under bender Polo Ralph Lauren collection of product range from reasonably inexpensive to expensive brand in men’s, women’s and children wear, accessories, perfumes and home furnishings. Widely seen as the number one brand that symbolize the American Style, Polo Ralph Lauren has implemented to its marketing strategy, which has leaded they to become a strong brand equity since being set up. Also, the brand has been selling its goods internationally, while it has kept up with its 45 years reputation and distinctive image developed across the different products and brands markets. Due to its marketing tools and its high quality brand image, this luxury brand keeps a constant relationship with its customers. Ralph is a truly inspired and continuously aspiring designer. (Garvin, 2008)
Even with commodities, there are quite a few parameters which brands can use to position themselves to capture a place in the consumer’s memory and consequently in their shopping basket. A few of the more widely accepted of them are: Consistency of Product Quality, Customization of the product to the extent possible, Providing a wider range of products, Identifying the most profit generating segments of the market and modifying or adding an offering to cater to their specific needs, Unique packaging, Emotional Branding and even basing branding on building a unique image to the extent of professing to have a brand personality. In fact focusing on getting consumers to build an emotional identification with the brand and its personality has a far longer lasting effect and builds far greater loyalty than focusing on just functional and utility attributes which a competitor would also able to easily match if not surpass.
People are buying the product which gives them prestige. Marketers have interest on consumer psychology and they are playing with every day by showing that their product will give prestige in the society. It’s true that the transparent societies now needs brands image. Marketers analyze the interest and needs of consumer than create the product according to the need of the society. Brand can attain the people attraction and the business can have the good reputation by giving satisfaction to consumer. If the brand gives satisfaction and function are according to the expectation of consumer than the brand gets good image on the mind of consumer. brand image is great weapon to use for the competitors it builds in years , at once the business gets brand image it has competitive edge from other brands in the market. When consumer rely on the brand the company can create the long term relation with the consumer, in other words (CRM) consumer relationship management. The brand image has effect on the choice of every individual there believe and attitude change their preferences. Brand image can be effected by price as price is an important part for consumer when they are making purchase decision if they find the value of brand is equal to the pricing they purchase that brand if not they refuse it. Similarly the image of brand can be effected by the attributes and features or
-Status symbols: Sophisticated customers who value the distinctive, exclusive collection seem to value the corporate-branded version of luxury. –Philip Martiz, chairman of the board
Miuccia Prada once said that “What you wear is how you present yourself to the world, especially today, when human contacts are so quick. Fashion is instant language”. Miuccia Prada and the Prada brand have grown from humble beginnings making quality leather goods to a public traded company with a current market capitalization of over $26 billion (USD) . With the development of Prada as one of the world’s premier luxury brands it provides an excellent case study to examine how strategy paved the way for the success of the Prada brand. First, an examination of Prada’s strategic positioning against luxury brand rivals Louis Vuitton Hennessey Moet (LVHM) and Kering (Gucci). The acquisition history of Prada will be reviewed, where some preliminary conclusions can be made about what has been contributing factors to both the successes and failures. Then finally, an evaluation of what the future holds for Prada and the sustainability of its competitive advantage.
Haute Couture clothing is extremely expensive. A very small number of people can afford these garments. ‘Today only 2,000 women in the world buy couture clothes; 60% are American. Only 200 are regular customers.’ (Johnson, 2007).
Brand offers superior quality of the service to the customer’s expectation and satisfaction. Furthermore, people are much attached to the branded products, as majority of the people purchase the branded products with the belief that brands show their status and life style in the society. And also because they believe that they are purchasing quality when purchasing branded product. As duration of stay creates impact of brand on consumer behaviour, so verification of brand image, brand loyalty and personality should be considered as the significant factors in this regard. It can also be said that there is need to improve the product of a particular brand so that the impact of brand on consumer behaviour is more effective in comparison to the existing scenario. The study also reflects that the product features are very essential for consumers. Advertising plays a very important role in achieving growth for any product or brand. The right media for advertising products and services should be chosen to gain customer attention.