Luxury marketing
Go through the attached case study and answer the following questions:
1. Compare Burberry's market position relative to that if its competitors, including Polo, Coach, Armani and Gucci. Is Burberry's competitive position sustainable over the long-term? Why or why not?
2. Bravo's team has managed to elevate the overall status of the Burberry brand. How has it managed to accomplish this?
3. What ‘anti-laws' of marketing did Burberry follow and why?
The following are the Anti-laws of marketing:
· . Positioning is NOT relevant
· Head-to-head positioning and differentiated positioning
· Luxury has flaws
· Don't pander to customer's wishes
· Keep non-enthusiasts OUT!! Be careful of dilution.
· Don't respond to increased demand
· .Dominate the client
· Make it difficult to clients to buy
· Protect clients from non-clients
· The role of advertising is NOT to sell
· . Communicate to those you are NOT targeting
· Imagined price should always be higher than the actual price!
· Luxury sets the price NOT the other way round
· Raise price over time to increase demand
· Raise raising average price of the product range over time
· Do not volume sell
· Keep celebrities out of your advertising
· Cultivate closeness to the arts for initiatives
· Don't relocate your factories
· Do NOT hire consultants!
· Do NOT test
· Do NOT look for consensus
· Do not focus on group synergies
· Do not look for cost reductions
· Just sell marginally on the internet.