Long business experience- Burberry’s was incorporated in 1856 and had been in operation for more than one century before Bravo took over in 1997. This had given the company vast experience in the consumer market for apparels and luxuries. The company was more experienced in business compared to its competitors such as Gucci and Armani which were founded in 1921 and 1975 respectively.
Limited products- Burberry’s had very few products in the market. Its main products were umbrellas and outerwear. The company was left struggling to capture a significant market share while its competitors such Gucci and Polo dominated the market.
Low levels of innovation- Burberry’s had kept its traditional products for a very long time without getting new ideas to improvements and make them were relevant to the market. The firm lost its market share to competing businesses such as Gucci and Polo because it was unable to introduce new products and stay relevant in the market. On the other hand, Polo and Gucci became household names because of their ability to introduce new products that were relevant in the market.
Burberry’s position is sustainable because the company has vast business experience compared to its competitors. ...
The company also has been producing quality products and strong brands that have for a long time been associated with safety, luxury and durability. Bravo needs to utilize these competitive advantages and improve on innovation so as to introduce a wide range of products that will enable the company stay relevant and remain competitive. 2. Prepare a positioning map to map Burberry's position vis a vis its competition prior to Bravo's hiring. Next, map Burberry's position vis a vis these same competitors after the marketing mix changes by Bravo took effect. Note: you may want to consider the fashion vs. accessory sides separately. Prior to Bravo’s hiring Quality Quality Gucci Coach Coach Gucci Burberry’s Burberry’s Fashion Accessories After changes on marketing mix Quality Quality Burberry’s Burberry’s Coach Gucci Gucci Coach Fashion Accessories 3. Bravo's team managed to elevate the overall status of Burberry by implementing changes in 3 high-priority areas: a. revitalization of the product line b. evolving brand associations c. overall brand stature. Describe in detail how Bravo's team managed to do this. Revitalization of the product line The first step in the revitalization of the product line was a reduction in the number of stock. This was aimed at eliminating products with outdated designs so as to create space for products with a consistent look. The company was able to redesign its traditional products to include a new range of products. The new product line was classified into two categories of continuity and fashion-oriented. Each of the categories consisted of three primary collections of products that included accessories, menswear and womenswear. Evolving brand associations Bravo’s team managed to