OVERVIEW OF A LUXURY FASHION BRAND AND WHY IT HAS BEEN AND CONTINUES TO BE SUCESSFUL Name:
The fashion industry is very competitive. Company that venture in fashion should therefore have a proper marketing strategies that will make it have competitive advantage over the other companies. Most companies engaging in fashion have therefore turned to luxury brands being that there is global interest in fashion. Based on the environment that the businesses operate, the target markets and product attributes as well as marketing methods, the companies have embraced luxury brand management and fashion marketing strategies that have made them be on top of the fashion industry. This paper looks at one Burberry as a luxury brand that has been successful despite the challenges that have existed in the fashion market. In this paper an overview of Burberry is given based on its success in the industry. The brand has been outstanding and is defined by the Britishness, independent luxury positioning and heritage as well as history. Compared to other brands in the fashion industry such as Prada, Zara and Ralph Lauren, the brand has been doing fairly well. Brand’s Brief History
Burberry is a distinctive global luxury brand that was founded in 1856. The group has a British background. Over the years the company has built a strong and outstanding reputation for innovation, design, and craftsmanship (Haig, 2004). The group has much focus on outwear, best known for its trench coats. The company designs, produces as well as sell products under the Burberry brand. The company based in London sources its raw materials from UK and other external suppliers it forms network with. The content of marketing as well as marketing programs; analogue and digital, are internally designed to promote the brand and product features to the consumers. Being that its products are sold globally through proprietary retail shops as well as third party wholesale customers, the brand needs a strong fashion marketing strategy to counter the competition in the fashion world. Marketing is in fact one of the core corporate functions that keeps the brand at par. The brand has also embraced digital marketing as one of the method it uses to remain competitive in the market that is dominated by other super-brands in the luxury fashion industry ("Group Overview," n.d.). Brand’s Product attributes and Target Market
The brand being inclined to British lifestyle has a range of products that targets men, women and children of different social status in the society. It is best known of shawls, scarves, and ties that are classified as soft accessories. On the other hand the brand has also classified small leather shoes, handbags, wallets, umbrellas, and wristwatches as hard accessories. The products are also tailored to meet individual needs (Tungate, 2009). For example the brand also classifies products as seasonal and continuity. Continuity includes the iconic trench coats that are durable whereas the former refers to the short lived products such as responsive fashion trend that covers a limited season. The multilevel brand strategy of the company is organized at six major brand levels. First off, the high fashion range that serves the fashion shows and editorial coverage, which is produced in small quantities to satisfy the customers’ exclusivity, demand. This range targets the affluent customers and is distributed through Burberry flagship stores and other prestigious stores in America and London such as Barneys and Harrods. The second range is the London line that is a ready to wear range that is presented in two collections based on the four seasons. Women’s wear usually has more lines compared to menswear. Menswear has also been tailored to meet sportswear accessories such as towels, shoe and bags as well as swimwear ("Group Overview," n.d.). There is also the Thomas Burberry range that targets...
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