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Case Study of Burberry Assignment

   

Added on  2021-02-20

7 Pages1346 Words66 Views
MINTEL Fashion Accessories report - UK

Table of ContentsINTRODUCTION...........................................................................................................................3TASK ..............................................................................................................................................31. Importance of positioning and repositioning..........................................................................3Implication of such activities .....................................................................................................32. Positioning map ......................................................................................................................43. Methods which can be used to achieve repositioning ...........................................................5CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................7

INTRODUCTIONThe report is based on the case study of Burberry. Burberry is a established in year 1856.it is a British luxury fashion house whose headquartered is located in London, England. Thecompany provides a wide range of products such as trench coats, fashion accessories, fragrances,cosmetics and sunglasses(Rohani, Gingras, and Gruyer, 2015). The report will highlight theconcept of positioning and repositioning. And it will also cover that how this can help companyto achieve success. The report will also cover position map. And some methods in order toachieve repositioning in market.TASK 1. Importance of positioning and repositioningPositioning can be defined as place which brand has occupied in minds of customers. Thecompany has to lay emphasis on differentiation of product if they want to attain a position inmarket. There products should be such that which differentiate them from other brands in amarket(Al-Ali and Raths, Masimo Corporation, 2017). While if we talk or repositioning ofproduct, services or brand in market it means changing the strategies related to products price,features or marketing activities with the change in market situation. There can be varioussituation in market which result in repositioning of product and services. The reason may beincreased competition, change in consumer trends, change in internal environment of aworkplace such as change in leadership style, use of new technology, acquisition, introduction ofinnovation etc(Brand repositioning, 2019). Implication of such activities Burberry wants to gain a large share in the luxury fashion sector. As the sector faces ahuge changes. Therefore it become necessary for the marketers to reposition the products in themarket. As the company has experienced decline by 10% in global revenue. The reason behindthis is challenging condition of US and Hong Kong. Therefore the repositioning strategy whichthe company CEO Macro Gobbetti has made i.e., change in price architecture and selling back toend retailers and wholesalers. Secondly the company is planning to create new luxury goods andaccessories which will help them to attract new market. These are some strategy which thecompany has planned for repositioning. If this strategies prove successful than it will helpcompany to successfully gain position in market. It will help company to monitor the position of

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