Ans: Burberry’s target customer is someone who wants luxury while being functional. The brand’s point of difference with other luxury brands is that they could be luxury, aspirational, and functional.
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What is value proposition of Burberry?
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 makes Burberry competitive?
Apart from the brand equity, Burberry’s specialised product line, mainly its ‘trench coat’ trademark plays a more significant competitive role. Additionally, the presence of a marketing communication platform that consists of a unique complimentary social media also makes the Burberry brand more specialised.
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.
Who is Burberry target audience?
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 is the value proposition of luxury brands?
The value of a luxury product is not solely based on market retail price, but rather a combination of quality, exclusivity and pride of ownership. If a brand is popular it is not a true representation of its luxury credentials.
How does Burberry communicate with their customers?
Burberry has a presence across 20 different social platforms and a combined following of more than 50 million. In 2016, Burberry launched a chatbot through Facebook Messenger as part of promo around its runway shows. Customers could use the chatbot to get updates and see behind-the-scenes content from the show.
What is the strategy of Burberry?
In 2017, we set out a strategy for transformation and growth, to elevate Burberry to a true luxury positioning. Since then, we have revitalised our brand, strengthened our product offer and elevated our customer experience.
What makes Burberry stand out?
Burberry sticks by its British identity, promising its customers the true-blue English style, through clean and smart designs, with checked prints being a well-recognized symbol of the brand. The Burberry trademark also gives consumers the assurance of consistency in the quality and durability of products delivered.
What is Burberry’s unique selling point?
The Unique Selling Proposition for Burberry is to deliver British culture and innovative design product. Burberry has a diversified offer across appeal categories, Accessories and beauty.
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.
What are the main challenges facing Burberry?
Too many licensees, too much parallel distribution, a lack of strategy and an almost complete obsession with sales volumes at the exclusion of longer-term profit and growth objectives had rendered Burberry dangerously close to becoming a British equivalent to Pierre Cardin.
Social media platforms such as Facebook or Twitter are the best means to reach young consumers that are increasingly difficult to address via TV advertising. Burberry is the best-ranked luxury brand in the Top Social Network ranking by Famecount in 2011.
What is Burberry brand positioning?
“Our vision is to establish Burberry’s position firmly in luxury fashion. By sharpening our positioning in the most rewarding and enduring segment of the market, we will drive sustainable growth and higher margins over time, while continuing to deliver attractive returns.”
Who are Burberry’s competitors?
Burberry competitors include Tommy Hilfiger, LVMH, Gucci, Armani and Billabong.
What market does Burberry operate in?
high fashion market
Established in 1856, the company mainly focused on outdoor attire at the onset before moving on to the high fashion market. The company has now grown to become one of the most valuable luxury brands worldwide.
What is the value proposition of Gucci?
The unique selling proposition (USP) of Gucci is its exquisite Italian craftsmanship, providing customers with high-quality products and great attention to the design of its products.
How do luxury brands create value?
Luxury brands give consumers the space to project their own fantasies onto the product. This is how they create a lasting story in the minds of their consumers. Hence, the product becomes something that lives longer than the commercial counterparts that are designed to be quickly replaced.
What is Louis Vuitton value proposition?
BRAND POSITIONING STRATEGY 3.1 VALUE PROPOSITION Louis Vuitton offers a “more and more” value proposition which provides high quality and exclusivity to customers.
How does Burberry communicate with their stakeholders?
We communicate daily with our teams across the business to keep them informed, engaged and drive open conversation. Written communications, videos and podcasts are made available via Burberry World, our global intranet.
What are Burberry’s objectives?
Our vision is to be the leading British luxury brand, delivering sustainable, high-quality growth and value for our stakeholders.