Marketing Issues and Repositioning Strategies of Burberry
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This report discusses the marketing issues faced by Burberry and explores the relevance and significance of positioning and repositioning. It also presents the positioning map of Burberry with reference to Primark and Gucci, and suggests two methods for repositioning.
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Table ofContents Project 1...........................................................................................................................................3 Covered in PPT.......................................................................................................................3 Project 2...........................................................................................................................................3 Introduction......................................................................................................................................3 1. Relevance and significance of positioning as well as repositioning..................................3 2. Positioning map of Burberry with reference to Primark & Gucci......................................5 3. Two methods that Burberry can use for repositioning.......................................................6 CONCLUSION................................................................................................................................6 REFERENCES................................................................................................................................7
Project 1 Covered in PPT Project 2 Introduction The tactics as well as actions which are being utilised by organisation for gaining attention of huge number of individuals within a market and development of strong relationship with them is referred to as marketing(Akbar, and et. al., 2017). With reference to this, it is often identified that wide number of marketing issues are being witnessed by firms on peculiar course of time which need quick attention from management so that they can be handled in an effective way. The prominent way for doing this is to determine the marketing issues by identification of target market as well as audiences for peculiar firm. To understand this concept Burberry is taken into consideration which is one of the leading fashion brands. This report comprises of marketing issues acknowledged by firm along with ways to tackle them. 1. Relevance and significance of positioning as well as repositioning. Positioning: The overall image of organisation within mind sets of individuals in which they take into consideration services and products furnished by firm within market is defined as positioning. It is one of the outstanding ways to ascertain ways in which products and services of firm are unique as compared to offerings from their competitive organisations. Positioning is considered as a critical aspect within marketing(Cong and Zhou, 2019). With reference to case study, this has been identified that Burberry has opted to utilise digital technologies for placing their offerings among their audiences in an appealing and efficacious way. Along with this, it has been found that some time back Burberry has launched their mobile application which has enhancedoverallexperienceoftheircustomers.Thisapplicationworkswithrespectto Augmented Reality that allows individuals within exporting images which are on their social media platforms. They can be shared around the world through the assistance of mobile application of firm. Importance:Positioning allows Burberry to grab attention of wide range of individuals, thus enhancing scope for their growth within the market(Edwards, 2019). The significance of positioning in context of Burberry has been specified beneath:
ï‚·By effectively placing offerings rendered by Burberry among customers, the chances for dully fulfilment of requirements which are made forward by their customers increases by a relevant margin. ï‚·Positioning aids employees of Burberry to have attention from large audience base this leads them to contribute within making firm market centred brand. Repositioning:The procedure in which firm modifies placement of services as well as products through which they can appeal in an enhanced manner in front of large base of audience is defined as repositioning(Kasilingam and Thanuja, 2020). In context of case study of Burberry, it has been found that firm is looking forward to reposition them in luxury market. Firm can do this by opting for specified effectual pricing strategies that will render assistance while dealing with their competitors. For this rationale, Burberry is looking to have entry into luxury market by bringing in new leather products within their product list. Importance:By carrying out repositioning, Burberry is acquiring access into category of leather items also. This category will aid firm to gain attention from youngsters that implies that there existent customer base will be enhanced. It will also enable them to enhance their brand image within market as they can accomplish wide requirements of their customers(Pappas, 2017). Repositioning has intense relevance for organisation and with reference to Burberry this is specified below: ï‚·Repositioning aids organisation like Burberry to target a particular group of market by which firm can enhance their overall revenue. ï‚·It assists organisation within accomplishment of demands as well as needs of market in an impelling way. For this, Burberry has opted to launch their leather products in the market place. ï‚·This provides assistance to organisation to expand themselves in new segment in their own zone like fashion industry. By furnishing new products they can new as well as can retain their existing customers. Impact over performance of business post their success The success of business, by moves like positioning as well as repositioning assist organisation within enhancement of their customer base. In context of Burberry, it has been identified that entity is implementing positioning within market by making use of their mobile application(Roy, 2020). Furthermore, by making use of repositioning that is executed by firm by
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entering into the leather market. This will enable them to captivate huge amount of people of different ages towards their offerings. It enable fashion house to amplify their revenues as well as profits by a relevant proposition. 2. Positioning map of Burberry with reference to Primark & Gucci Positioning map:The pictorial representation of insights which are being held by customers with respect to products and services furnished by an organisation is referred to as positioning map. The perceptions are developed on basis of price, quality and benefits offered by firm in context to their competitors in market place(Woods, 2020). With reference to this, Burberry is furnishing their products by making use of digital technology that is mobile application. The positioning map of Burberry with respect to Primark and Gucci is presented above which illustrates that products which are being offered by Burberry provides high performance by price for the same is also high(Akbar, and et. al., 2017). On the other hand, performance of Primark and cost are also low. This is the perception of their customers and not the ranking or actual positioning of the organisations. Illustration1: Positioning map of Gucci and Primark
3. Two methods that Burberry can use for repositioning The intention behind reposition is that firm do not want to confine themselves into a peculiarsegmentasitclosestheprobabilitiesforgrowth.ManagementofBurberryis repositioning them in same segment i.e. luxury market. For doing this, they are bringing in leather products within the marketplace by leveraging celebrity faces(Cong and Zhou, 2019). It will assist firm to gain attention of ample of people as well as appeal to them in an amplified manner. This fashion brand does have various options where they can efficaciously implement repositioning of their brand. Some of these alternatives or optional methods are mentioned below: ï‚·The quality of offering which is rendered by particular fashion brand will amplified in significant manner by focussing on compliance within industrial quality standard along with QC techniques. This will amplify value of goods provided by them in front of their probable customers(Edwards, 2019). ï‚·On the other hand, fashion brand also have option for giving incentives or some kinds of discounts to their customers so that they can grab their attention towards products furnished by Burberry. Conclusion From above, it can be concluded that, marketing is essential aspect for each organisation that are carrying out their operations as a part of economy. Apart from this, it has been found that positioning as well as repositioning are two effectual ways or methods through which marketing can be conducted by organisation. These strategies provides firm with relevant opportunities through which they can appeal to their audiences in a better way and thereby inflate their revenue and profits.
References Books and Journals Akbar, F., and et. al., 2017. Niche marketing strategy framework for SMEs: A conceptual framework. Cong, J. and Zhou, W., 2019. Inflexible Repositioning: Commitment in Competition and Uncertainty.Management Science. Edwards, R.A., 2019. How Organizations and Their Brands Leverage Marketing Partnerships to EnhanceTheirSuccess:TheGuidelinestoNavigatingBothReaffirmingand Repositioning Strategic Partnerships. Kasilingam, R. and Thanuja, V., 2020. RECENT TRENDS IN DIGITAL MARKETING.Studies in Indian Place Names,40(3), pp.4215-4224. Pappas, N., 2017. Effect of marketing activities, benefits, risks, confusion due to over-choice, price, quality and consumer trust on online tourism purchasing.Journal of Marketing Communications.23(2). pp.195-218. Roy,A.,2020.Studyingpositioningandrepositioningofbrandsusingmultidimensional scaling.Journal of Education for Business,95(1), pp.53-58. Woods,P.,2020.BrandPositioning.InTheBrandStrategyCanvas(pp.67-86).Apress, Berkeley, CA.