Burberry Case Study

1499 Words 6 Pages
In conventional economics, prices have been regarded as only cost, the acknowledgment that a price provides information to the consumer about the good. It is basically one of the non-product characteristic of the associations of brand. It can also be regarded as an important association in the configuration of brand perceptions specifically considering to value and popularity and is basically a reason due to which customer frequently section their understanding of a market. Products of high quality wrapped in a fancy packaging with exclusive store locations and high retail margins along with the advertising campaigns, and brand names are all the reasons of the higher prices of luxury goods. Large investments are made by companies on these factors …show more content…
Paucity
Over disclosure and supply of luxury brands can result in dilution of luxury character. Therefore, many of the brands are keen of maintaining the view that the goods are in a very short supply.
A prime example related to this factor is that of Burberry. They diluted their brand image in Britain by over-licensing their brand and therefore plummeting its image as a brand which was used only by the elite class.
Generally, there is natural paucity, the actual scarcity and as well as the technology driven paucity and the tactical led paucity. Natural paucity is activated using some limited ingredients such as diamonds, platinum or those goods which need extra ordinary human proficiency e.g. handcrafted quality which restraints the mass production.
Tactical led paucity is relatively promotional in nature e.g. the limited editions or the exclusive series for generating synthetic demand.
4. Persona
The luxury brand’s persona is mainly a cause of its unique projection added with lucidity of its uses across customer touch points and the brand communication via advertising. The visual identity of brand confines the personality of brand, its charisma and the emotional values associated. The unique and steady orchestration of brand identity plays a key role in establishing the visibility, popularity and common particular brand
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Public figures can distance from movie stars to musicians, from sports persons to royal families and also the designer themselves. But due to celebrity supports are not much longer exclusive to the luxury space and much used across many categories, they take a dissimilar meaning for luxury brand endorsement.
There is a separate difference in the way role of celebrity is designed, executed and used. Further than the customary advertising mainly print media tools of advertising are used such as dressing the celebrities for the walk down on the red carpet, invites to special events etc. This strategy goes for removing the selling appearance and still endorsing the product by making it look like an element of celebrity’s life. This positively affects the consumer’s behavior, brand value and

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