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Evaluating Strategies of Luxury Brands on Consumer Behavior: A Study on Burberry

   

Added on  2023-06-07

13 Pages4072 Words206 Views
Evaluating the strategies used by luxury
brands for influencing consumer behaviour
of younger generation in the UK: A study
on Burberry
Evaluating Strategies of Luxury Brands on Consumer Behavior: A Study on Burberry_1
TABLE OF CONTENT
Evaluating the strategies used by luxury brands for influencing consumer behaviour of younger
generation in the UK: A study on Burberry....................................................................................1
INTRODUCTION...........................................................................................................................3
Background of the study..................................................................................................................3
Research Aims and objectives.........................................................................................................3
LITERATURE REVIEW................................................................................................................5
Theme-1 Concept of consumer behaviour in young people (18-30)...........................................5
Theme-2 Factors influence consumer behaviour when buying luxury brands in the UK...........6
Theme-3 Marketing strategies used by Burberry for influencing behaviour of consumers........6
RESEARCH METHODOLOGY –.................................................................................................7
TIMELINE AND GANTT CHART..............................................................................................11
REFERENCES..............................................................................................................................13
Evaluating Strategies of Luxury Brands on Consumer Behavior: A Study on Burberry_2
Topic: Evaluating the strategies used by luxury brands for influencing consumer behaviour of
younger generation in the UK: A study on Burberry
INTRODUCTION
Background of the study
In today's business environment, luxury brands are growing with the very high pace
which contributes in the growth of economy. As fashion industry of UK is marked as one of the
top listed industry in the world provides various types of products to high end customers who
likes to buy luxury items. This industry is growing and providing personnel with several
employment opportunities (Zhao and et.al., 2021). With the rise in choices and high quality
standards of luxury branded items, consumer buying behaviour in younger generation is also
influencing. These high quality standards of luxury branded items is the reason behind young
generation consumers for choosing luxury branded goods over store brands. For the current
proposal, the study will be conducted on the young generation consumers of UK and Burberry
has been selected which offers varieties of products such as clothing, accessories, bags, trench
coats, hats and gloves to its customers (Pajić, 2019). The current proposal will highlight on the
research techniques and tools that can be used for analysing the strategies that is used by the
luxury brands for influencing the behavioural pattern of the customers. Along with this,
appropriate research methodologies will be shown along with the justification. Lastly, the
research proposal will highlight the time-frame in which the task is being completed.
Research Aims and objectives
Aim- To analyse the strategies used by luxury brands for influencing consumer behaviour of
younger generation in the UK: A study on Burberry
objectives
Evaluating Strategies of Luxury Brands on Consumer Behavior: A Study on Burberry_3
To understand the concept of consumer behaviour in younger people (18-30).
To investigate the factors which impact consumer behaviour when buying luxury brands
in UK.
To analyse the marketing strategies used by Burberry for influencing behaviour of
consumers
To recommend the best strategies to Burberry to influence consumer purchasing
decisions in young people.
Research questions
What is the concept of consumer behaviour in younger people (18-30)?
Which factors influence consumer behaviour when buying luxury brands in the UK?
What are the marketing strategies used by Burberry for influencing consumer behaviour?
Research scope
Understanding the consumer behaviour plays an important role in the business
environment, basically it is the study of how individual customers buy, use and select goods or
services to satisfy their wants, needs and requirements. Knowing this behaviour, companies is
able to find out about actions of the consumers in the marketplace. The current research study is
useful for understanding the factors influencing consumer behaviour in young people and
strategies for improvement in regards to consumer behaviour (Clark, 2020). This will be very
much helpful for similar company operating in the fashion industry and also learners and
scholars who are conducting research on similar topic can easily gain deep knowledge from this
study. Thus, the research is wider in scope as it will provide guidance to the organizations in
order to take decision in regards to influencing consumer behaviour and also, it will provide
guidance to the scholars as well so they can have effective knowledge in research context.
Rationale of the study
The major reason behind doing this research is to analyse the factors which impact
consumer buying behaviour in young people of UK. This in turn recognized as research issue
because nowadays young consumer thinks twice before buying from luxury brands. There are
many factors which influence behaviour of consumer when buying luxury brands. Every
company is using effective marketing strategies and providing good quality products to attract
customers. This indicates an issue because companies are using social media marketing and
various other methods to increase brand loyalty and social standing of the brand. This can
Evaluating Strategies of Luxury Brands on Consumer Behavior: A Study on Burberry_4

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