We first started analyzing the company by using a brand audit, which is a review of external aspects (how the brand is bought and seen), competitive aspects (how the brand compares), and internal aspects (how the brand is managed. Part A was used to evaluate the current status of Burberry and their likelihood to be successful in the future. We then continued into Part B, with our idea for the new brand extension of Burberry.
Thomas Burberry created Burberry an internationally renowned luxury retail brand in England 1856. From that point forward the brand continued to grow and become very well known within the region. In fact in 1964, the brand was considered so prestigious that Burberry was in charge of creating the Women’s Olympic team uniform. This continued into the transition of celebrities who started to represent the brand. In 1999, Kate Moss became the face of Burberry; it was marketed to be a chic classic English brand, mainly known for their trench coats. In 2010, a more American orientated market was targeted with the use of British celebrities that were also infamous with in the U.S., such as actress Emma Watson and model Rosie Huntington.
Today Burberry continues to be a leading luxury retailer. Part of this success is due to the company’s ability to hold on its classic English look while also incorporating chic new lines to attract new young customers. Burberry is considered to be a lifestyle brand; we hope to continue this outlook by incorporating a bed and bath sector to the company. Ultimately, allowing the loyal customers of the brand, a chance to incorporate this timeless look into their households.
Part A: Brand Audit
A brand Audit refers to the review of external aspects (how the brand is bought and seen), competitive aspects (how the brand compares), and internal aspects (how the brand is managed. Through the brand audit we hope to capture the nature of the brand and what its main external factors are, in terms of its competitive position in the marketplace. External Aspects
A brand audit is started with the review of external aspects that examines how a brand is bought and seen. The first, being an analysis of Burberry’s brand performance and brand awareness. Followed by an overview of the brand performance measures.
Brand Performance Measures
There is a wide range of measures that can be used in examining brand performance. These measures include market share, brand loyalty, market price, financial market value, stability and a long- term brand life cycle. In doing so, we will have an idea of Burberry’s brand performance within the U.S. market place and it’s potential for continued success.
Market Share: Burberry continues to be one of the most successful luxury retail lines. In fact it is continuing t o grow, especially within the Japanese and American markets. Compared to many of its competitors who have seen a fall in their market share over the past two years, Burberry has actually grown 20% within its shares. It’s expansion within the accessory and makeup departments have shown to be very successful within Japan and China. This shows a promising future for Burberry if they continue to expand and create new and appealing products for the market place. Angela Ahrendts, Burberry’s Chief Executive Officer, stated that "Our (Burberry) investment in flagship market and digital technology has enabled our global teams to continue to drive customer engagement, enhance retail disciplines and improve operational effectiveness, further strengthening brand momentum.” These investments will also be effective in ensuring a positive market share for Burberry in the future.
Geographical Spread: Burberry originally started as a clothing brand in Britain. Today it is seen as one of the top luxury brands internationally and is continuing to grown. Particularly, Burberry is currently seeing significant growth in emerging markets such as Japan and...
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