Burberry is a British luxury fashion … The brand- Burberry founded in 1856 is a leading International brand for both men and women. These all elements are essence of a well defined and controlled IMC plan which is clearly seen from Burberry’s current market success. The core reason of the Burberry brand is to explore, protect and inspire. However, the company’s more … Address 1-5 Underwood Avenue and 10 Homebush Bay Drive Homebush Sydney New South Wales 2140. Before the outbreak of COVID-19, we were on track to move to the second phase of our transformation in FY 2020/21. Snacks and champagne could be served to make their brand image look more classy as Burberry is associated with the glamour world. Burberry has its new target for young people and they want to set up the market according to that. The Burberry In VRIO analysis is basically the extension of the Burberry In PESTEL analysis, which allows the oragnation to understand the resources, competitive edge, value proposition and its value in the market. Registered office: Venture House, Cross Street, Arnold, Nottingham, Nottinghamshire, NG5 7PJ. To further improve service to top customers, the Group launched a pilot initiative aimed at better meeting the specific requirements of these clients. Gathering the responses the respondents gave, I have processed them in to a map of key brand associations. For buying power of the potential customers in Australia, Burberry won’t have to start from the base as Australia is not the first country in which Burberry is thinking to start business. Set price by keeping the core competency of your product and skilled labor. The pricing also depends upon your target market. Updating the product line could be another option. Burberry needs to keep their brand at the peak of mind with their past, present and future customers. It … Its European and American markets grew and the trading profits and sales are increased handsomely. Yet this is not entirely an IMC plan as there are many more tools that are to be involved for a complete IMC plan but keeping in mind that Burberry is a niche brand which has to do marketing and promotion within a certain limit and target market, the absence of some IMC tools are understandable. It is produced in limited quantities in order to gratify the demand for exclusivity among wealthy consumers, this collection is distributed through Burberry’s flagships stores and also prestigious department stores like Selfridges and Harrods in London. The expansion of the product portfolio includes a wider purchaser base and the adoption of a multi-brand positioning, reflects many of the developments that have occurred within other premium international fashion retail companies which include firms like, Ralph Lauren, Gucci and Prada (Moore and Fernie, 2004). The only strategy that Burberry will have to adopt would be a Skimming Pricing Strategy as if a company’s offering has enough differentiation which can justify a high price and have minimal desires for having market penetration, then it can set your prices very high. [xxiv] The other reason for high prices is its skimming pricing in all the countries in which Burberry is available. Extended Distances and Multiple Variables Goods are typically traveling a greater geographical distance, possibly requiring different modes of transportation. It can be used by all people in the demography and relate to the product. Disclaimer: This work has been submitted by a university student. The check theme has remained constant throughout the life of this brand and is a major fact in boosting Burberry into its current market position. You can view samples of our professional work here. Similarly, the men’s collection has been extended to consist of swimwear, sportswear and a ski collection. For this, Burberry has to check how many of its major competitors are available in Australia and what are their philosophies. The threats in the SWOT Analysis of Burberry are as mentioned: 1. Use the Ansoff growth matrix as the theoretical framework for the answer. The pricing techniques heavily depend upon the strategy of a business. This strategy takes into account the costs and values associated with the brands. Also these free samples could be sent to Burberry’s loyal customers. With an emphasis upon the trademarks and key products, the campaigns do not feature individual products, but instead presents a mix of products which present the overall brand image and thus demonstrates the scope of the product range. See Appendix 2 to get a brief description on advertising, fashion shows and editorial placement. If the skill level is so high, you can charge above average and enjoy high profits as niche brands do. Moreover, my last question to my respondents was “One word/statement that you think best describes Burberry”? The only thing that I would recommend to Burberry is to focus on Corporate Social Responsibility (CSR). Burberry Analysis Burberry is an international luxury brand with differentiating brand values that resonate across a multi-generational and dual-gender audience. The Burberry London line is publicized at London Fashion Week each season in the showrooms in London. If Burberry develops a technique to appeal to a broad customer base, they will be more successful. Its revenue in 2016/17 was about £2,8 billion and its EBIT close to £400 million, making it one of the strongest companies in the UK. Reference this. Through this, marketing department … It was the status brand of preference for Hollywood film stars and European royalty. Their check print plays the most important role and makes the brand unique from the other’s. Nevertheless the … This is not an example of the work produced by our Essay Writing Service. Therefore, they buy Burberry and moreover, they have the warranty. Because of its high status and quality, it received two royal warrants from Britain's royal family over the … There are three important ways this brand has been marketed which are the following: (1) Advertising. Burberry is strategically located and can avail products to its target customers easily. Firstly, it recognises the importance of advertising in the making of a luxury brand image and lifestyle association. Brand loyalty is harder to achieve and even harder to keep than in the 1920’s since there are so many options and anything can appear to be better than the next. These constrains could be covered by firstly, repositioning the brand. After analyzing the pros and cons of the different modes available for Burberry, I would recommend Burberry to choose the first two modes i.e. Our academic experts are ready and waiting to assist with any writing project you may have. After the Brand positioning, the brand in terms of reliability, uniqueness, credibility and extension has gone higher and better. Strengths in the SWOT analysis of Burberry. We also knew that we didn’t want to be just classic because there were enough of those brands”(Burberry 2002). Traffic Sources Find out which are the main sources of desktop traffic for burberry.com. Burberry must enhance its product category in order to keep pace with the competition. This is not an example of the work produced by our Essay Writing Service. The marketing team must find a way to manage the meaning behind the check in a strategic way, which should create a consistent brand image. The pricing strategy depends upon market segmentation and the target market. 1st Jan 1970 A multinational brand has intensive experience regarding workload, efficiency and number of customers, so they can easily set high prices. Registered Data Controller No: Z1821391. The organization team also recognised the significance of a flagship store as an important means for attracting the attention of the international fashion press and that it would help Burberry get hold of greater editorial and other media coverage. Company and market share data provide a detailed look at the financial position of Burberry Group Plc, while in-depth qualitative analysis will help you understand the brand strategy and growth prospects of Burberry … 3.The status of Burberry must be managed in a way that places the base for long-term growth. The management team chose New Bond Street which was critical since it placed Burberry near to the other leading luxury and fashion brands in London – such as Chanel, Versace, Gucci, Prada, YSL and Bulgari. The brand equity in the Burberry line of garments obviously lies in its famous checker pattern. Sponsored Audrey Hepburn in Breakfast at Tiffany’s. [vii]Â. The below figure, shows a brief descripition of what product items had the most sales in 2009/10. Also, a three-floor flagship store is opened in London. Any local type of marketing communication and activity are determined by the path provided by the London marketing team. For home delivery of products that are shopped through website, Burberry needs to have a courier service that will cover the whole country (Australia). This is particularly critical in order to allow Burberry to manage its supply chain strategically, identifying various points throughout the supply chain where goods can be held to reduce the risk of delays. However, a generation later the brand suffered a loss of prestige and the once profitable business made major losses.The adoption of a business plan which gave up management control over product development and distribution in favour of indiscriminate licensing agreements, damaged the credibility of Gucci as an exclusive and encouraging fashion brand (Jackson and Haird, 2003). In the 1950’s the brand enjoyed success. This could be done by sending free samples to make-up artists so they can use it and be aware of the beauty collection too. But CSR also demands some social works so that people might have a soft corner in their mind and hearts about Burberry. Digital integration and e-commerce development: Burberry is committed to creating a seamless link between the physical and digital presence of the Burberry brand, responding to the direction of retailing as an increasingly multichannel proposition. These all progresses are reflecting the exponential growth of the company which is a proof of its successful marketing strategies that’s why I would recommend to stick with the current IMC plan. [xiv]Â. Edison, NJ -- -- 12/15/2020 -- A new business intelligence report released by HTF MI with title "Global Luxury Goods Retailing Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)" is designed covering micro level of analysis … These three ethics are at the heart of the brand, its behaviour and culture as a company. Sally McKechnie, Caroline Tynan Nottingham University Business School. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. Moreover, the brand being 150 years old, customers can rely upon it as they have survived so far. Burberry has identified the significance of active marketing communications in the development of the lifestyle and an image that is capable of generating awareness among wholesale buyers, retail clients and the media (Matlock and Edmondson, 2002). But it is a difficult task to set a price as it involves integrated decision making at different levels of the organization ranging from strategic planning (which takes long term planning for profit objectives into account), tactical planning (which take short term market dynamics like demand shifts and competitive effects into account) and execution level planning (which is concerned about inventory and supply management). [xxiii]Â. BCG Matrix Analysis STARS: The trench coat is the star of Burberry´s products since it has a large market share in a fast growing clothing segment. The essay elaborates the annual report and accounts analysis of a luxury fashion house, Burberry … The higher the credibility, the more convincing the company (Sobel, 1985). UK, US, Asia and Europe but it is not covering it entirely. Each country has its own unique set of trade compliance regulations and certainly each pose its own set of logistical challenges. Burberry Prorsum is the couture high fashion range that provides as the focus for fashion shows and editorial coverage. It is one of many ways to value a company and is calculated by multiplying the price of the … Although it is being focusing on Corporate Social Responsibility but it is only regarding fair policies and deals with the supplier and partner firms. In order to create and maintain a logical brand identity, all Burberry marketing activities are managed from London. Following are the products that Burberry can introduce. Burberry’s wide range of luxury products … Can the business give you a reasonable profit? Despite of this SCR factor, Burberry’s current IMC plan is pretty good as this plan has got all the important elements that must be included in IMC of a niche brand. Adapted from: http://annualreview2009-10.burberry.com/group_overview/index.html. It also deals in men’s products that include cleanser… The Group added 21 mainline stores during the year, including Burberry’s first flagship store in Asia at Singapore’s Ion Orchard. A brand is typically much more than a product and is normally the name of a company, organisation or an individual (Jackson and Shaw, 2009). The opportunities and challenges for entering Australian market will require Burberry to establish relationships with new types of reliable and specific country-savvy suppliers because Burberry can’t possibly know all the ins and outs of doing business in every single foreign market of their global supply chain. Analysis of Burberry’s latest shift of focus: Burberry’s has shift company culture and processes from a static wholesale model to a dynamic retail model. The challenge to re-position Burberry as a high fashion brand required the opening of a flagship store in central London. I decided to make an online survey as people could easily access it. Likewise, the presentation of the British fashion brand Burberry over the same era has been determined mostly by the acceptance of business models which have been harmful to the company’s performance (Cowe, 1998). Its financial results are improved dramatically as they entered the new millennium. I did this survey to get a clear picture of the brand (Burberry)’ s current position. This could be done by, digging out the outdated merchandise of the line and replacing them with a new line of products. A proposal for a new market strategy for the Thomas Burberry London perfume range 1.0 Introduction The organisation I have decided to propose a new marketing strategy for is Thomas Burberry. It is just a way of advertisement. Copyright © 2003 - 2020 - UKEssays is a trading name of All Answers Ltd, a company registered in England and Wales. Launched on a twice-yearly basis to agree with the release of the seasonal collections to their retail stockists and stores, the brand’s advertising campaigns are focused upon the leading fashion and lifestyle magazines. To attain the credibility for high quality, a company must develop a reputation for manufacturing and delivering quality goods(Bell, 1984). Burberry In VRIO Analysis. My survey was based upon 13 simple questions where the responders had to choose an option from about 4 or 5 choices, and in some questions they could choose more than one option. The constrains I think that are taking place are the following: 1.The market and current trends are regularly changing. Let’s see the availability of some of the competitors: Gucci is available in Australia. [xvii]Â, “The fresh and joyous vision combined with savvy interpretation of the Gucci legacy has delighted fashion followers around the World.”. This scheme aims to make the most of world-wide editorial coverage and comment in support of the brand and to make sure of the regular product placement in the leading business, trade, fashion and newspaper publications. clothing, store design, headquarters architecture graphics and social media are been a significant part of its promotional strategy. Therefore, the brand became a symbol of both luxury and superiority (Heller, 1999). August 2020 analysis burberry.com’s marketing strategy is focused on Search with 65.65% of traffic coming from … (Figure 2). The Burberry London line is the company’s ready-to-wear range which is presented in two collections for spring/summer & autumn/winter for both men and women. Furthermore, all the main competitors of Burberry are operating in Australia and are operating with the same skimming price strategy, so in order to compete them globally, Burberry would have to stick with the same pricing strategy. Following actions are taken during Burberry’s IMC campaigns: Equipped Roald Amundson when he became the first man to reach South Pole and left a gabardine tent there to let Shackleton know that he had arrived first (power and hague2008) [vi]Â. In this industry, there is enough room not just to stretch the product line but also to develop many separate lines within a brand, like the Prorsum line of Burberry. See Appendix 1 for the suitable brand extensions that can improve the core brand (Pitta and Ktsanis, 1995). 3)Inventory Management: All type of inventories i.e. Celebrity endorsement through British supermodels like Lily Donalson and Agyness Deyn to sponsor their latest collections. Indeed, there is no other outwear … Burberry will have to take these factors into considerations and design its distribution network according to it. If you need assistance with writing your essay, our professional essay writing service is here to help! Sponsored Hollywood film stars Humphrey Bogart and Ingrid Bergman in Casablanca. Credibility is thus dependent on the company’s reputation (Fitzgerald, 1988), which Burberry is well-known for. As a result, extending a supply chain beyond borders lengthens Burberry’s supply chain and results in exposure to greater variables. The shows for both men and woman’s Burberry Prorsum are held twice, yearly in Milan. Brand Positioning is clear and consistent according to Global Brands (2010), as Burberry is said to be falling under other luxury brands like Louis Vuitton, Gucci, Armani and Hermes. Telephone +61 2 9746 0800 If you need assistance with writing your essay, our professional essay writing service is here to help! 2. Free resources to assist you with your university studies! The Fall/Winter campaign was flourishing and Emma Watson was then the cover model for the 2010 Spring/Summer campaign. Produced a forerunner of their famous signature trench coat for British officers in the Boer War and later. The aim of this decision is to attract younger generation, while still appealing to the current customer base. Choose your location and shop Burberry.com for innovative menswear and womenswear. However, in order to appeal to warmer climates, and to attract the customers, the women’s wear spring/summer ranges now also includes swimwear, as well as complimentary accessories, like footwear, bags and towels for the beach. Do you have a 2:1 degree or higher? Source: luxuo.com, Burberry Opens Flagship Store in Shanghai At the beginning of expansion of Burberry in China, as the market knowledge and management experience acquired in the western countries may not be appropriate, Burberry tended to conduct marketing through low-control intervention, such as wholesale, franchising, concession, etc., to test the market … The brand can add major value when it is well recognized and has positive relations in the mind of the consumer. Study for free with our range of university lectures! All work is written to order. If your product is having high demand in the market, you can charge high price but if the demand is low or competition is strong, you will have to lower the prices unless your product is not uniquely identified. Discover luxury outerwear, leather bags, cashmere scarves, beauty and more. This idea is referred to as brand equity (Hunt and Morgan, 1995). The company has about 10.000 employees in over 500 stores around the world (Burberry 2017). Missing and unreliable information adds risk and decreases flexibility in the international supply chain. As Randall (1997) observes, “A brand then has an existence separate from an actual product or service: it has a life of its own.”. “A luxury brand with a distinctive British sensibility, strong international recognition and different values that resonate across a multi-generational and dual-gender audience.” [xv]Â. The only way to do this productively is by changing the product lines and choices for the consumer world. Depending upon the experience and customer bank of your company, you can set the price. The first proposal was to update the picture of the brand by firstly changing the name from Burberry’s to Burberry. (Exhibit 1) In a sense Burberry is differentiating itself through its signature trench coat and specific pattern so I would recommend Burberry to launch its existing products in new market with the same theme in order to differentiate their offering form that of competitors. Burberry must turn to outsource providers who can offer the expertise needed to keep the supply chain moving. The Burberry brand has broad consumer appeal. We're here to answer any questions you have about our services. The Burberry check pattern was launched in the 1920s as a lining to its signature trench coat and thus became a registered trademark. The business is balanced between non-apparel (36% of … The customers have a higher bargaining power and low switching costs. By keeping high prices if Burberry can earn profits from a country like India where per capita income is 3248, then they will definitely be successful in Australia (with 39231 per capita income) with the same high quality and high pricing techniques. The brand faces threat from other competitive everyday brands in terms of pricing as well as availability. Industry-leading standards of customer service in Burberry’s stores are their main focus. The Burberry brand also incorporates the company’s accessories range which with a sales value in 2008 of £58.3m, has appeared as a highly important part of their business (Haid, 2009). To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! Although it is not possible to get 100% information about your competitors, yet you can get a reasonable amount of information about the prices and strategies of competitors and that becomes a foundation of setting prices according to the market strength and potential. Often supply chain managers and the ultimate customer can’t be sure what they’ll be receiving until the shipment actually arrives. 1) Transportation: It can be by air, by rail, by road or by sea. The only non-performing sales environment is Spain in which sales are down 20 percent (Rigby). However, from 1997, at the start of a newly appointed chief executive, Rose Marie Bravo, Burberry has totally re-aligned its business model and has made significant improvements in its business performance. The reputation of the company was improved through Burberry’s development of “gabardine” – a material that was resistant to tearing which was weatherproof but was also breathable (Burberry, 2002). Keeping up with the trends and appealing to people of all ages could be the perfect way to saturate the brand. Provided equipment for Shackleton’s ill-fated imperial Trans-Antarctic Expedition in 1914. A brand aiming at mass marketing will never set prices comparative to the niche brands that just focus on selective customers with supreme quality products. All advertising campaigns in Japan need a central marketing department approval. For this, the levels of distribution channels will be low. This gives a clearer portrait of my findings and makes it easier to summarise into a critical appraisal. Burberry has been using a variety of techniques to promote its products in unique ways e.g. 2.High earning people shop everywhere, and lower income people cannot afford Burberry. The market of the luxury brands like Burberry continues to be challenging with stagnation (slow growth) in the developed economies, high debts in the emerging markets, easy acceptance of … But if your customer is price conscious, you will aim to set your price below average, even if you have to compromise on quality. Kate Moss became the face of Burberry for sometime and in 2009 Burberry endorsed British actress Emma Watson. Burberry Group plc (Burberry) is a global luxury goods manufacturer, retailer and wholesaler. Study for free with our range of university lectures! 2) Warehousing: Burberry can hire one of the three possible warehouse options. There are three major pricing challenges that are faced by the companies like Burberry who provide high-end products, when going to a new country (say Australia). 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