Exam December, questions PDF

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Burberry under the supervision of Ahrendts, was quick to incorporate digital marketing in order to adopt to changing industry needs. However today E- commerce is on a very large scale. People are used to Online shopping and the demand is growing year by year. With changing demographics and younger generation becoming more technology friendly, digital marketing is one of the most effective and cheaper strategies to promote the company among its potential customer base. Customer decision making process has been affected by the emergence of online shopping and changing marketing strategies according to it has become very crucial. Burberry needs to understand this change and market their product strategically . Active interaction with customers via social media will help Burberry understand their potential customers needs more clearly. Online reviews and influencers talking about the brand ( positive or negative) has a huge impact on company’s overall performance. Therefore, understanding how Digital and Social media affects the brand is very important for Burberry. Creating marketing strategic plans that will help Burberry to create a positive and strong image will be very beneficial for the company in long run. Secondly, the concept of Fast Fashion is growing rapidly. Today People are not willing to wait to get latest trends in their closets. Companies that have understood this including Zara and H & M are very successful in increasing their revenues from the trends. Similarly, for Burberry having a supply chain that helps them to produce latest trends really quick can help Burberry to be more prevalent within its customers base especially within Accessible segment of Luxury shoppers. Luxury is becoming mass marketing Phenomenon of everyday life rather than the embrace of the kings and queens. Becoming proactive about latest market trends can be one of the suggestions Burberry can benefit a lot from. This strategy will also help Burberry to penetrate the market more effectively and increate market share in the accessible segment. Thirdly, the emergence of new luxury markets is very important to consider. China has emerged as the highest personal luxury industry accounting for 31 percent of world’s total market share. With Economic boom in china, Chinese people are becoming affluent and purchasing luxury items. Noticing this trend, Governments all over the world are attracting Chinese Customers by amending visa policies for them. Therefore, catering to Chinese market becomes important to increase sales. According to Luxury Market Experts, Chinese shoppers emphasizes heavily on Physical appearance and social norms. Understanding these characteristics is crucial for Burberry brand Success. Apart from China, other markets such as India, Brazil and Russia are emerging national economies. India had 13 % personal luxury market share . Burberry needs to consider these nations and their unique characteristics. All these nations have unique needs that needs to be fulfilled to increase Burberry’s market share. Brand perception is very important, and it may be different for all the markets. Understanding these uniqueness among nations and designing strategies that will cater to their needs is important for Burberry’s success....