CompanyINTRODUCTION
The above report is on the basis of a case study in which analysis of marketing problems which are being faced by Burberry in their business operations. The report includes the MINTEL Fashion Accessories report of the United Kingdom 2018.
Burberry is a British luxury fashion brand which had its head office in London, England. They mainly focus on the distribution of trench coats, fashion wear, sunglasses, ready-to-wear outwear and cosmetics. The above report includes the importance of the positioning and repositioning of the marketers. A report carried forward with the demonstration of the positioning map. The report ends with the two methods which can be used by Burberry for repositioning their brand in the market and gaining huge competitive advantages.
MAIN BODY
The Importance and Relevance of Repositioning and Positioning for Marketers and the Implications for Performance of Business
The brand positioning is helpful for Burberry in understanding the strengths and weaknesses of the brand from the consumer's perspective. They can understand the various consumer groups who are pursuing the brand's services and product categories in the various regions. Burberry can build a unique image in the minds of its consumers so that it can grow in the marketplace (Zhang, Lin and Newman, 2016). They are successful in attracting young customers with the new styles of their brand ambassador Alessandro Michele. The repositioning of the brand is helpful for Burberry in raising their sales, profit and market share so that the current position of the company can be gained. The positioning, pricing and distribution can be accepted and can grow as per the desired goal and objectives and it is recommended that the company can perform it with the help of various strategies. Burberry is changing its brand positioning by offering products with old styles in all the categories which are replaced by new aesthetics (Shachar, 2015). The target market is not being changed by the company by understanding their product and services. It can be a challenge for Burberry as it is the most popular brand in the marketplace. They had launched the new leather goods so that the company could benefit by new reworking handbag styles.
Demonstration of Positioning Map and the Positioning of Brand That Can Change as a Result of These Process
Burberry can position its brand in the marketplace with the help of various strategies. Company may position their brand with high-quality products at low prices so that more and more consumer can be attracted to the company and thus they can gain huge competitive advantages from their companies in the market. The company can concentrate more on rendering quality products to young consumers at affordable prices. Thus, the company's sales could be raised easily as a consumer will be satisfied with the quality of products which are provided by the company to their customers. Whereas Primark and Gucci provide high-quality products at high prices to their consumers so the company can have a competitive advantage that they can position themselves in the market (Chik, 2015). The company can easily compete with these companies by using its strategy to position again in the market and raise its sales. Burberry can easily reposition in the market with mainly focusing on quality products to their consumer and highly satisfying their consumer so that more and more customers are attracted to the company's products. And brands can become more popular among consumers and various competitive companies. Gucci and Primark also had high brand equity among the consumers and their consumers are highly satisfied with their products.
Two Methods Which Can Be Used by Burberry for Achieving the Repositioning
The two methods which can be used by Burberry for repositioning itself in the market are as follows-
Listening to the consumers-
Burberry must listen to their consumers so that they can render quality products to them. Companies can get feedback from their consumers so that they can improve their products easily and further render quality products to their consumers. As the consumers are highly satisfied the company can raise their sales and profit margins easily (Roy, 2019). The company must listen to their consumers so that problems which are being faced by them can be solved and thus they can satisfy their consumers highly satisfied consumers are the permanent consumers of the company and they will stay connected with the brand for the long term.
Delivering quality products to their consumers-
Burberry can deliver quality products to consumers. The consumers can also be satisfied with the quality product. Thus, they can render quality products at low prices so that it can be helpful for the company can repartition themselves in the market and gain huge profit margins while competing with the other brands in the marketplace (Blankson, 2016). Burberry must focus on this and render the product with high quality at affordable prices and values which attracts a wide range of consumers.
CONCLUSION
From the above study, it has been concluded that brand positioning and repositioning is very important for companies to raise their sales and profits in the marketplace. They can compete with rivals in the market and gain a brand position in the marketplace. The company can render the quality product to their consumers so that more and more young consumers are attracted towards the company. Burberry can grow effectively in the market raise its revenues and become a popular brand in the marketplace.
UPTO55%
Avail The Benefit Today!
To View this & another 50000+ free
Update your Number