Our vision is to be the leading British luxury brand, delivering sustainable, high-quality growth and value for our stakeholders.
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What is the vision of Burberry in Burberry digital strategy?
The first and most important thing that Burberry did was to identify their vision of where they wanted to take the brand. Back in 2006, Ahrendts and Bailey clearly stated “the vision was to be the first company who is fully digital” and that they wanted “to build a social enterprise”.
What makes Burberry different?
Burberry has quite a positive brand judgment in the eyes of the general consumers. The Burberry brand has been known as one of the oldest and most respected British fashion brands. Consumers recognize it for its symbolic trench coat, high quality products, distinctive checks prints and classic British style.
What is Burberry’s competitive advantage?
Burberry’s main competitive advantage lies in the fact that the company’s resources are strong as compared to its competitors in the market.
Who is Burberry’s target market?
Highly dominated by women with a high disposable income. It is famous for its celebrity appeal. With stores located in largely populated, wealthy and tourist attractive cities.
What makes Burberry successful?
Burberry spent time and effort improving its product (Value). They developed and modernised their fabrics, reinvented their silhouettes, and branched out into profitable and aligned product sectors. At its inception, Burberry’s persona built ‘Warrior’ and ‘Creator’ brand personas.
How does Burberry use technology?
Meanwhile, Burberry, which is a pioneer in the adoption of new technologies, uses artificial intelligence to identify counterfeit products. The British luxury player uses Entrupy’s AI-empowered, image-recognition technology, which can assess if a product is real or fake, thanks to its advanced algorithms.
What is Burberry’s brand image?
Sophistication and competence comes in top for the image of the Burberry brand. This coincides with the team’s hypothesis that Burberry exudes sophistication and elegance, while maintaining modern edginess and British sensibility. Burberry’s elite luxury image is quite strongly etched in the respondents’ minds.
Why is Burberry iconic?
Burberry is known for its luxurious yet understated style, and it’s classic style and excellent craftsmanship ensures makes it a wise investment that is unlikely to go out of style any time soon. Clothes from the brand are sleek, stylish, timeless, and classic. And, simply put, you can’t put a price on that.
What do you think about Burberry as a brand?
Burberry is a brand that is strongly integrated with British culture. Its value proposition (the benefits that consumers expect by purchasing a product) is grounded on both function and emotion. The functional benefits are high-quality, product category variety, and innovative, modern styling of classic designs.
What pricing strategy does Burberry use?
Burberry Price/Pricing Strategy:
Burberry uses premium pricing strategy to sell its products. The right mix of low cost range and the high end premium products is what Burberry aims to achieve. Being a luxury brand Burberry does not compete directly on price in its marketing mix with its competitors.
How did Burberry redefine its target audience?
Burberry target audience is designed for both sexes however it is dominated by the female target audience who have a high disposable income. The brand has their own childrenswear range which can appeal to parents but are likely to be people from wealthy backgrounds.
Is Burberry a niche market?
Burberry is defying what other luxury retailers are struggling with in this economy. It has found its niche client-base, hedged against economic slowdown and increasing its profit margins.
How is Burberry managing its relationship with customers?
The retailer has used its digital platform to take its products to clients who were at home in lockdown. It used techniques including remote selling, live-streaming events held in stores, and creating immersive experiences, as seen in its recent Bags World launch.
How is Burberry innovative?
Burberry has used social media in innovative ways to engage its consumers, particularly via a long-standing partnership with Twitter which has allowed viewers to access live-streams of runway shows, receive personalized photos from shows and buy products via the social media site.
How is Burberry using big data?
Big Data & AI used in Practice: The Case of Burberry
Customer profiles are built also based on what garments (tracked by RFID tags) the customers have tried on in stores. Big Data analytics by relies on SAP HANA is used to offer personalized recommendations, online and in store.
The luxury fashion house has partnered with Tencent, the developer behind Chinese social media and payment app WeChat, on a ‘mini program’ that “connects and rewards customers as they explore online and in store,” according to Burberry CEO Marco Gobbetti.
How would you describe Burberry?
Burberry is a luxury house and outerwear pioneer with a uniquely British identity and a commitment to quality, innovation and creativity. We are custodians of a brand with a rich history and heritage, built on the principles of our founder, Thomas Burberry.
Why is Burberry a luxury brand?
The company aims to be recognized as much for its excellence in operations as it is for its luxury products. Burberry is a very special brand because of their long and rich history as well as their attention to quality and luxury at every level of creation, production and distribution.
Why did Burberry choose to rebrand?
Burberry had to reinvent itself if it were to avoid the collapse. And so, it decided to turn things around and rebrand itself to tell a new story.
How does Burberry promote their products?
Burberry has switched the focus of its marketing away from glossy print advertising in favour of digital investment. The luxury fashion brand is promoting the launch of its fragrance Burberry Body through Facebook, instead of glossy fashion magazines for the first time, according to the Financial Times.