Burberry Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of Burberry analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Burberry marketing mix, help the brand succeed in the market. Let us start the Burberry Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
Burberry Product Strategy:
The product strategy and mix in Burberry marketing strategy can be explained as follows:
Burberry is one of the leading luxury fashion brands in the world. The core products of Burberry are clothes, beauty, perfumes, sunglasses and accessories for men, women and kids. All these offerings are the product strategy in the luxury fashion brand’s marketing mix. Accessories are the best products for the entry level customers and also have a greater shelf life as against the apparels which have to be sold within four months otherwise they go out of fashion. Soft accessories like scarfs are a growing market for them. Its trench coats are the signature products which have a significant market share. Also, Burberry sells other accessories which don’t require trying on like handbags and are easy to sell.
Burberry has liscensed their watch market to Fossil Group which has a slowdown on a market share. In this industry the product offering is extremely a differentiating factor. They introduced gabardine in 1880 which is a breathable fabric. Burberry Touch, Burberry Weekend, Burberry Brit are some of the products from fragrance range. Equal attention is given to kids wear. The company declared in 2021 that it aims to be a climate positive company by 2040 by reducing chain emissions.
Image: Wikimedia
Burberry Price/Pricing Strategy:
Below is the pricing strategy in Burberry marketing strategy:
Burberry uses premium pricing strategy to sell its products. The right mix of low cost range and the high end premium products is what Burberry aims to achieve.
Being a luxury brand Burberry does not compete directly on price in its marketing mix with its competitors. The differentiators are product design, durability and perception. Changing their prices may cause the customers to go away from the brand and hence the pricing strategy for Burberry remains more or less the same. The pricing is done on deeper evaluation of market demand and competitor pricing. According to customer demand and the willingness to purchase the product, it prices its products. Also, benefits of Burberry’s pricing over the competitors is analyzed thoroughly before designing a price for a product. The brand has an annual revenue of more than $2 billion.
Read more about Burberry
Burberry Place & Distribution Strategy:
Following is the distribution strategy in the Burberry marketing mix:
Burberry has its presence through hundreds of stores in more than 50 countries. All of the stores are mainly located in highly populated areas which guarantee a definite revenue to the firm. Huge number of people residing in these areas fall into the target audience of Burberry. Thus more and more profit can be expected through such cities. Also the Burberry stores coming up are more digitally influenced and innovative in terms of customer service. At the same time equal number of people buy online form burberry.com which constitutes a large percent of traffic. Burberry directly owns majority of its stores and hence have end up in similar customer satisfaction results. Burberry in no behind in displaying its outfits at departmental stores and boutiques but they are few in number. Thus the distribution channel is fast and efficient. The Burberry ecommerce portal has its complete product line for online shopping.
Once a customer make a purchase of any of the products, they are delivered to them directly.
Burberry Promotion & Advertising Strategy:
The promotional and advertising strategy in the Burberry marketing strategy is as follows:
Burberry focuses tremendously on its marketing activities. Promotion is the most important part of apparel industry. The advertisements are chosen to be placed in high class magazines to target the specific audience. Burberry uses promotions of all types of like TV, online ads, print ads, billboards etc. in its marketing mix. Burberry recognized the importance of social media marketing and has been present since then. Investments in digital marketing helped Burberry communicate their brand message easily to customers. They heavily rely on celebrity endorsements. Mainly viral marketing is used as a promotional approach and less of TV advertisements are seen promotion the Burberry brand. Some of the celebrities include Kate Moss, Agyness Deyn etc. The adoption of digital technology is the key factor of success for promotions. Hence, this concludes the Burberry marketing strategy and marketing mix.
About Burberry:
Burberry was founded in 1856, as luxury apparel brand mainly concentrating on innovative and functional outerwear. Burberry is valued at more than £2.5 Billion. It is the biggest luxury brand with largest UK export share. Burberry was founded by Thomas Burberry in Hampshire, England and has its headquarters in London, UK. Burberry is one of the 100 most trusted brands of the world. Gucci, Louis Vuitton, Caroll are some of its competitors. It has been awarded Royal Warrants by Queen Elizabeth II and Prince of Wales.
Burberry presented a check pattern which is its extensively copied trademark. Burberry is also registered on London Stock Exchange.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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