A proposal for a new market strategy for the Thomas Burberry London perfume range 1.0 Introduction The organisation I have decided to propose a new marketing strategy for is Thomas Burberry. This organisation is a distinctive luxury brand with international recognition and broad appeal. They design, source, manufacture and distribute high-quality apparel and accessories. Burberry was founded in Basingstoke, England in 1856; they have a unique heritage associated with Great Britain and position themselves as the authentic British lifestyle brand. From their founding, Burberry have established a reputation for innovation, quality and style through developments such as the invention of gabardine, which the organisation believe was the …show more content…
Table 1: The UK market for cosmetics and fragrances by value at current prices (£m at rsp), 1998-2002 1998 1999 2000 2001 2002 Cosmetics 585.5 620.0 660.0 714.0 750.0 Fragrances 650.0 655.0 662.5 680.0 705.5 Total 1,235.5 1,275.0 1,322.5 1,394.0 1,455.5 % change year-on-year - 3.2 3.7 5.4 4.4 Rsp- retail selling prices The perfume & cosmetics industry is a very large industry. The UK retail market for perfumes & fragrances grew by 4.4% between 2001 and 2002, to a value of £1.46bn. Consumers base their choice of cosmetic or fragrance on the image of a particular brand, as well as on the product's function. Fashion plays a key role in defining this image, and in-store presentation and method of distribution are also important factors. According to International Flavours & Fragrances, the failure rate for new fragrances is approximately 90% after the first year and 99% after 3 years, so for a fragrance to maintain its popularity for decades, brands such as Chanel No. 5 and Miss Dior, is no mean feature. Vast promotional spending is necessary to maintain an established brand, let alone launch a new one. In the year to September 2002 for example, £34.2m was spent on advertising women's premium fragrances alone, which is a great deal of money for promoting a brand. Table 2: The UK market for fragrances by sector by value at current prices (£m at rsp and %), 2002 Value (£) Total (%) Females fragrances 465.5 66.0 Males fragrances 240.0 34.0 Total 705.5 100.0 Fine or
While reading through Eileen Fisher, Repositioning the Brand, it became apparent early on that the company’s main issue was relevancy—an issue that many companies face in today’s market. Keeping the company current in order to attract new customers while not abandoning already loyal customers in the process is a huge challenge that EILEEN FISHER struggled with. For purposes of differentiating between the company and the person, “EILEEN FISHER” shall refer to the company for the duration of this analysis summary.
Second recommendation is to collaborate with other brands. In order to increase sales and expand not only premium market, but also mass market without undermining brand value, there are two options to target different consumers. One is to collaborate with Superdry, which is a young and fashionable brand with great reputation. Consumers are able to smell the partner perfume in Superdry’s shop and make purchase if they are interested in. Another is to collaborate with five-star hotels. There are many kinds of bath
The mind-set of the company is to put sales and profit second to creating a special style that can change the world through fashion.
Companies across the world are determined to compete for the survival of their brands. The magnitude of success of the marketing and advertising strategies of a new or existing product is majorly depended upon the organization itself. As a matter of stated facts when an organization advertises its products in the market they first have to identify the relevant answers of some questions like what is the product aiming at? What benefits will the user seek by this product? How the organization plans to position itself within the market and what differential advantages will the product offer over the competitors. Because the bottom line of all marketing and advertising campaigns, is to provide the suitable collection of benefits to the end users of the product. Successful companies are usually recognized as iconic brands. Success of a
Gucci, a brand known for its quality, luxurious and royal association was confronted with strategic issues which made the company take notice of its strategy of expansion and brand personality. The company was not only having concerns with their product line but they were lacking unified corporate vision and strategy after its acquisition of some major names like YSL. Due to which they started having loophole in their luxurious goods market discipline. Strategic concern for the company was how does the brand image cascade down in the target market and how does it rejuvenate itself is a management lesson.
The fragrance market is the major part of the care market. During the 90’s, this market has known a considerable growth. Currently, it might be entering a maturity phase. The perfume market is highly competitive and there are a lot of fragrance houses which are competing for sales. The total global market is over 25 billion Dollars.
Los Angeles-based perfumer Lisa Hoffman embraces every facet of life into her creative process, from the everyday to the adventurous. With a rich background in fragrance—including education in Grasse, France with the world's most esteemed perfumers—she has seamlessly assimilated traditional fine fragrance into the lifestyle of the contemporary woman to create a brand that's unique and wearable. Each scent in Lisa’s diverse fragrance line has been crafted to capture the essence of her favorite destinations from around the world to effortlessly transport women to places filled with beauty and tranquility.
One consumer who was around the age of 45 spent about 15 minutes looking through body mists and perfumes, between box sets of the 60 mL mists/perfumes to the 250 mL mists/perfumes.
Burberry, founded in 1856, is a leading international luxury brand. Burberry designs, manufactures and licenses apparel and accessories for distribution through its own stores and network of prestige retailers worldwide. In early 1998, the new management team at Burberry set out its strategy to reposition and revitalise the brand, which resulted in significantly improved results and strengthened the base to build the business. With continuous growth since last five years, Burberry has faced new challenges of brand sustainability and positioning in a volatile industry (fashion) where customer behaviour is unpredictable. Thus, it requires a strategy that lays foundations for long-term growth and addresses the issues
Context: Increasing purchasing power in NE and role of powder as fragrance / softening agents
Burberry is uniquely positioned as a classic British apparel brand with high global brand awareness to capture the globalization of consumer demand. Its distinctive luxury brand with international recognition and broad appeal. The company’s outlook for the accessible luxury goods industry remains positive from both a geographic and product point of view. Burberry had become positively hip and popular among a younger demographic. It has a unique history and positioning as the authentic British lifestyle brand and highly successful merchandising and marketing strategy across both appeal and accessories. In 2000 Burberry’s total sales were 225.7 million and by 2003 sales had went up to 593.6 million.
– Current market situation: detailed consumer and business market segmentation and analysis of market drivers will be undertaken to identify the most valuable
Gucci is a multinational fashion brand based in Italy. The brand specialises in leather goods, clothes, and fashion accessories for both and women aged between 24 and 30 years. Gucci was founded in 1921 in Florence, Italy by Guccio Gucci (Gucci Official Site United States, 2016). The main purpose of this paper is to provide an in depth brand analysis of Gucci. The paper will investigate and evaluate Gucci’s vales and identity, and will discuss how successfully these are reflected by Gucci’s business model, supply chain management, and Corporate Social Responsibility (CSR) activities. In addition to that, the paper will critically evaluate Gucci’s brand identity (identity) in relation to its brand image (external).
Sephora is a worldwide cosmetic phenomenon that reflects its definition in the Greek language; 'beautiful '. The business was established in France 1984 by Dominique Mondonnaud. Sephora 's founder struggled financially in the establishment phase of the business with the over enthusiasm to expand in new regions of France, which lead to the retirement of Mondonnaud on his 50th birthday, 27 years passed and the business was taken over by Louis Vuitton and Moet Hennessy (LVMH). It was then when Sephora began its journey to expand globally dealing with the daily accessories, skincare, hair care, makeup and well know products which appeal to customers from the age of 16-70, either male and female. This has lead to Sephora becoming recognised as a global brand and a contender in the cosmetic world race. This paper will critically analyse and evaluate the operational strategies which allow Sephora to attain its success.