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Burberry: Successful Brand Leadership - Essay Example

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Burberry – “Successful Brand Leadership” Table of Contents Table of Contents 2 Introduction 3 Literature Review 4 Luxury Brand Management 5 Strengthening Brand Performance 5 Product Portfolio Amendment 8 Brand Positioning 8 Analysis 9 Product Line Strategies of Burberry 10 Product Portfolio of Burberry 11 Brand Positioning of Burberry 11 11 Conclusion and Recommendations 13 References 15 Introduction Burberry is a fashion company which produces and markets males’, females’ and kids’ clothing along with accessories and perfumes…
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Burberry: Successful Brand Leadership

Burberry propelled the ‘Prorsum designer collection’ for reinventing its image as a luxury brand. Burberry has exploited the marketing opportunities and the brand extension strategies to promote the brand towards the young age group who are very much aware regarding fashion and style. Burberry has effectively managed the brand and maintains the leading position in international fashion industry. In present days, the Burberry brand stands for authentic British heritage, quality products and modern as well as classic fashion items. The logo of Burberry has become an internationally accepted icon for fashion. The business unit of Burberry is distinguished by capability of producing diverse category of apparel products for male, female, kids and teenagers. Its market is expanded internationally and also uses advanced marketing tools such as e-commerce and social media. In the year 2010, the revenue of Burberry for apparel products was calculated as ?1,280 million which was 1% more than 2009. The huge success of Burberry in the luxury market is due to its branding strategies (Burberry, 2010). Literature Review In the present era, the luxury brand management has created much curiosities and thoughts in both academic and commercial areas. The luxury segment has experienced exceptional development due to emergence of globalization. In the year 1985, the total worth of luxury segment was almost 20 billion USD which has become 180 billion USD in the year 2008 (Okonkwo, 2009). The advent of new markets, improvement of digital communication, cultural union and wealth making prospects among others have contributed to the massive development of luxury market. On top of that the growth of luxury customer base and successive dropping of the entry obstacles to the foreign markets have resulted in the growth in both products offerings and rivalry across all luxury groups. Luxury brands such as Burberry are broadening their horizons to access other markets of luxury. Source: (Okonkwo, 2009). Luxury Brand Management Luxury is a socio-psychological thought and it is associated with culture and lifestyle of people. When luxury is associated with a brand, it is considered as a recognizable fashion, strong uniqueness, high responsiveness, and improved expressive and symbolic relation. Luxury brand evokes individuality and inimitability, and is inferred in products by high quality, well-organized distribution and superior pricing. These basic aspects have led to the improvement of luxury business with continuous development (Cravens & Piercy, 2009). Strengthening Brand Performance To make a successful brand, there is need to gain beneficial vision about product performance. A strong product performance can make a brand powerful. The strong performance of brand is the outcome of: Good marketing talent High product quality, and Strong brand preference Source: (Cravens & Piercy, 2009). Brand equity can be regarded as a valuable asset for an organisation. The common characteristics upon which a number of durable brands emphasise are targeting and product positioning strategy. Several studies recommend that leading brands that deal with numerous product lines are 50% more ... Read More
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