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2 EXECUTIVE SUMMARY

Any company thrives or perishes based on the strength of their brand strategy. Depending on the dynamics of the industry or the innovations in the company the strategies keep changing. While for FMCG companies the changes could be frequent, heavy industries and government organizations usually make strategies for longer durations.

Fashion industry has historically been one of the fastest to change, both in terms of their range and strategies for their brands, justifying the term „fashion being fickle‟. Burberry has been an always been an oasis in this desert of fickleness. In their history of 150 years, there have been only two major shifts in their brand positioning. One from an army trench coat maker to a complete men‟s wear company and more recently in 1998 a shift from a “me too” brand in the luxury segment to a pioneer in newer products and digital promotions.

To understand the brand it was necessary to understand the personality of the brand, which in Burberry‟s case is quite apparent. The change in strategy in the last decade also gave a paradigm shift in their positioning related to their competition and changed them from a preferred choice of the football hooligans to the attire of the affluent. The change in the entire image and perception has been brought about under the leadership of two different CEO‟s and a completely internal design team. The current brand equity could be said to be the result to multi-pronged strategies of newer product, defined pricing, varied channels and a strong promotion through the digital media.

While a company like Burberry would have generally done extensive research on their target market, new market penetration and the product lines, there are certain points which stand out while discussing their brand strategy. Most of these points could be termed as potential threats, but as with any company with a lineage like Burberry it is extremely important to understand both the obvious threats as well as the potential ones. Most of the weaknesses in this report are looked at from the perspective of „service as a drama‟.

Each of the weaknesses identified and are grouped into one of the three parameters of the drama. The stage defining demographic and the digital innovation challenges, the executive turnover as the actors, the loyalty policies are placed in the audience parameter. Corporate Shared Value (CSV) stands out as a long term strategy in not just building the brand but also the merging the socio economic development with the development of the company.

The actual challenge for Burberry is not just to keep their brand strategy distinct from the competition but also to maintain the upward swing of their fortunes in both the revenue and the brand equity.

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TABLE OF CONTENTS

1 FIRST QUESTION ............................................................................................................................ 4

1.1 Introduction ................................................................................................................................. 4

1.2 History of Burberry ...................................................................................................................... 4

1.3 Personality of the Brand ............................................................................................................. 4

1.3.1 Kapferers brand identity prism.......................................................................................................... 5

1.4 Burberry's Positioning expected and real strategy .................................................................... 7

1.4.1 Burberry Target Consumer ............................................................................................................... 7

1.4.2 Description of Competitors ............................................................................................................... 7

1.4.3 Points of Parity ................................................................................................................................. 7

1.4.4 Points-of-difference .......................................................................................................................... 8

1.5 Burberry's Brand Equity.............................................................................................................. 8

1.5.1 Product ............................................................................................................................................. 9

1.5.2 Place ................................................................................................................................................ 9

1.5.1 Employees...................................................................................................................................... 11

1.5.2 Pricing Strategy .............................................................................................................................. 11

1.5.3 Promotion strategy ......................................................................................................................... 11

1.5.4 Burberry's Brand Strategy .............................................................................................................. 14

2 SECOND QUESTION ..................................................................................................................... 16

2.1 Introduction ............................................................................................................................... 16

2.2 Enlarging Audience-Cost .......................................................................................................... 17

2.2.1 Loyalty Plans and Alliances ............................................................................................................ 17

2.3 Enlarging Actors-Employees .................................................................................................... 18

2.3.1 Threat to Brand from Executive Dependency ................................................................................. 18

2.4 Enlarging Stage-Market ............................................................................................................ 19

2.4.1 Digital Innovation Challenges ......................................................................................................... 19

2.4.2 Demographic Risk .......................................................................................................................... 20

2.5 Corporate Shared Value ........................................................................................................... 21

2.6 Conclusion ................................................................................................................................ 22

3 APPENDIX ...................................................................................................................................... 23

3.1 Best Global Luxury Brands....................................................................................................... 23

3.2 Digital IQ Ranking ..................................................................................................................... 23

3.3 Strategic plan ............................................................................................................................ 24

4 Work Cited ..................................................................................................................................... 25

5 Bibliography .................................................................................................................................. 29

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1 FIRST QUESTION

1.1 Introduction

"When I look back I don't think there‟s anything I'd change"(Bolshow, 2011) stated the CEO of Burberry. The quote portrays the comfort in the company‟s current position and faith in the on-going Burberry strategy. The fact that she is considered among the top 50 women executives in the world also confirms the global perception of the company. The study below shows the journey of Burberry and the path taken in reaching the current status, with special focus on the last decade which has seen the biggest changes and the best phase for the company. The report looks at the Personality, Positioning and the Strategy of the brand and the methods used in achieving the same.

1.2 History of Burberry

Few companies have sustained for over 150 years without going through a paradigm shift multiple times. Burberry seems to be defying the odds and continuing with their strategy. During this period they have had their ups and downs like all companies, but the core brand ethos of being British and accessible luxury has prevailed and is still relevant. The company started as supplier of trench coats to the Army, then became a men outdoor clothing designer and finally they transformed into a luxury brand for all market segments.

1.3 Personality of the Brand

Burberrys personality is reflected by the core traits which consumers attribute to the brand (Okonwono, 2007). The brand identity message should clear and consistent with the image the company wishes to portray. This is crucial for brands as consumers not only bond but enter into relationships when feelings are elicited by interacting with the brand.

The purpose of defining the traits of a brand is crucial for a marketer as it can give insight into the consumers‟ minds and therefore their needs and wants (Keller, 2008)

Two models have been applied for the analysis of the personality, Kapferer‟s indentity prism has been utilised for the global brand identity and Aakers personality scale.

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1.3.1 Kapferers brand identity prism

Adapted from Kapferers (2008) Brand identity prism.

Utilising the brand identity prism, (Kapferer, 2008) the brand is decomposed into 6 facets; these they can be classified into tangible and intangible aspects. All facets are interrelated and should be considered in the context of shaping the personality.

1. Physique, this is the most tangible aspect of the brand (Kapferer, 2008), in Burberrys case this would be the “Burberry” check, the Prorsum knight, the logos, font script etc. These items are consistent across stores, the World Wide Web etc.

2. The personality will be further discussed below.

3. Culture, these are the ideals that inspire the brand (Kapferer, 2008). Burberry has carved a British niche firmly in the minds of consumers. The coat born from WWI leverages heritage and tradition.

4. Self image, this is how the consumer visualizes themself (Kapferer, 2008) this facet is vital as consumers maintain their self image through the brands they purchase.

5. Reflection, this is the client type the brand is addressing (Kapferer, 2008)

6. Relationship; the mode of conduct that most identifies the brand (Kapferer, 2008). It is vital to

establish a relationship with the consumer as then trust is built. By creating a strong relationship this further ensures trust, attachment and commitment to the brand. (Didier, 2010)

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Adapted from Aakers personality scale 1997

Aaker (1997) suggests that the personality of a brand could be regarded as the human characteristics associated with it. According to Aaker, the “big” five factors in brand personality are sincerity, excitement, competence, sophistication, ruggedness. These traits can be further decomposed as seen above.

The perception that Burberry wishes to portray is reflected by the following factors and traits;

Sincerity/Original:

Burberrys core product, the trench coat is vital to their success; it is original and a key differentiator of the brand. The personality shown by the original trench coat evokes halcyon days of the 1950‟s where Burberry was worn by the film stars of that era.

Excitement/Unique/Spirited/Cool/young/trendy and Reliable/successful/confident

These personality traits are consistent with the message of the brand and the usage of their ambassadors. They are well known English startlets.

It could be argued that “young, cool and trendy” are the traits that Burberry aspires to; the clarity of this message is consistent with the strategic goals of the brand. Burberry repositioned to ensure that the brand shifted from their older demographic to take in a wider segmentation of the market.

Sophisticated/Upper class/glamorous/good looking

Any of the “big five” factors may elicit more excitement dependent upon the brand; Burberry fulfils many of these traits. As a luxury fashion brand many of the traits should correspond with this section since this is the niche that Burberry has carved for itself.

Rugged/tough

The fact that the company was born from the advent of gabardine gives the brand an air of toughness. Gabardine was sold as tear proof, waterproof and utilitarian product in the 1880‟s.

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7 It should be noted that the “Aaker” factors when applied to other cultures/nations may elicit different responses. (Keller, 2008)

It should be noted that any divergence from the core brand aspects will result in a divergence of the branding message. If this occurs the consumer will become confused and a gap between the consumers

1.4 Burberry's Positioning expected and real strategy

1.4.1 Burberry Target Consumer

Burberry changed its narrow target market to become one of the global luxury brands. Two main aspects shall be taken into account for this expansion:

The brand is “focused on the younger millennial customer" inspired by the British brand (Bailey, 2011)

Digital marketing has been the catalyser of the current success of the brand.

1.4.2 Description of Competitors

The two major competitors for Burberry are Louis Vuitton and Gucci. The reasons for specifying these competitors are:

Louis Vuitton and Gucci are the two Luxury brands that recorded the most important "brand value" growth during the last 7 years, (Interbrand, 2011). Refer to Appendix 3.1.

Louis Vuitton and Gucci are the ambassadors of their own culture; French for Louis Vuitton and Gucci for Italy. As Burberry embodies the British culture (Anonymous, 2010)

"Both companies are among the most recognizable and wealthy brands in the world today" (Anonymous, 2010).

1.4.3 Points of Parity

The similarities of these three brands are:

1) History and Heritage:

The brands were established over 90 years ago. This increases the level of reliability of the brand, the perception of heritage and how-know.

"Thomas Burberry founded Burberry in 1856" (Moore, 2004)

Louis Vuitton " opened his first store in Paris in 1854" (Anonymous, 2004)

"1921 Gucci opens his first stores in Florence" (Anonymous, 2011)

2) Digital Media:

The strategy of the companies is to develop as much as possible the digital media:

Websites [Official site of the brands, Artofthetrench.com (Burberry), Digital flagships (Gucci)]

Digital Marketing (Presence in blogs, visibility in search engines, Social media (Facebook, Twitter, Youtube)

Mobiles (iPads integrations)

Accordingly, the companies are in the top 10 Digital IQ companies (Galloway, 2010) Refer to Appendix, 3.2 "Digital IQ Ranking".

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8 3) Counterfeiting Threat:

The three companies have been suffering and fighting against the counterfeiting. It has become one of the principal issues that the three companies have decided fight (Wilkinson & Grist, 2006)

1.4.4 Points-of-difference

One of the key branding strategies is to ensure that the customer is able to differentiate Burberry from others within the same category. The comparative differences are:

1) “British”

Throughout its existence Burberry has created an image of a pure British luxury brand. This is reflected in not only their designs and product ranges, but also their marketing and branding strategies. The brand campaigns have also projected the British ethos through the selection of brand ambassadors "Burberry has selected a different young face each season to continue the brand's rejuvenation. “While the face might have changed the story has remained the same. These are all British girls" (Riston, 2011). This has helped Burberry in differentiating themselves from their Latin peers. Moreover, it allows the brand to be accepted and recognised in the emerging markets. For example, in China they aspire to own the quality of the British brand.

2) The "Trench Coat", a Unique Product

As indicated by the CEO Angela Ahrendts in 2011 "We were born from the coat and as you look across all our luxury peers, none of them were". Burberry is the only company with unique and iconic product call the "Trench Coat" (Zeitgeistminds, 2011)

3) The Luxury Brand is an IT Pioneer

Burberry is one of the pioneers in the implementation of Information Technology. As the Burberry CEO, indicated at the World Retail Congress 2010 (Burberry, 2010) "The more connected we are, the greater is the trust, and the greater is the trust, the stronger is the energy and the stronger is the energy, the more we will continue to achieve". The utilisation of technology as a mean to optimise working methods and customer relation is one of the priorities of the brand.

4) Blend of Function and Fashion

One distinction Burberry has created from other luxury brands is that their products are not only fashionable but also functional. Burberrys products are born from gabardine - a practical and waterproof fabric.

5) Luxurious but Accessible

Burberry, because of its founder‟s origins has always positioned itself as a “Democratic luxury brand”. Unlike its continental peers who have positioned themselves as a brand for a “few”.

1.5 Burberry's Brand Equity

It could be argued that Burberry has been building its brand equity since 1856. However, 1998 was the company‟s nadir where the company‟s profits dwindled from £65m to £27m. Finch and May (1998) described it as “an outdated model with a fashion cachet of almost zero.” Furthermore, the perception of the consumer brand awareness was high and the image was low due to the brand “appealing only to the hunting, shooting and fishing set” (Anonymous, 2002) and “the chav” (Bothwell, 2005).

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9 In 1999 a new CEO was appointed and Burberry started repositioning and rebuilding their equity. To complete this transformation the company redeveloped their value proposition, divested the negative awareness, associations and attitudes that were linked with the brand and strengthened the positives.

1.5.1 Product

The steps Burberry took to reposition were drastic but necessary. The product mix was reviewed, 75% of products were removed from sale. Any item below $50 dollars was removed from sale; this included the baseball caps and scarves, the clothing of choice for “chavs.” (Pectu, 2011) The company removed ranges like Thomas Burberry as it cost 25% less than their other products and did not fit the new image being created for Brand. Despite the range being popular and bringing in revenue from countries like Spain, it was discontinued for the overall benefit of the brand. The use of the trademark check was reviewed and although integral to the brand, it was also ubiquitous. This did not fit into the luxury niche the company was fashioning for itself. Rather than divest of the check completely it became more subtle and brand heritage items such as the name “Prorsum” (meaning forward) and the Knight logo originally used in 1901 were returned as the brand identifiers. Burberry London as a range has since been the driving force for the brand and is being used as a platform to position the company in all demography‟s, gender and geography. These factors reversed the decline of the equity and some of the negative connotations associated with the brand. (Anon, 2008)

1.5.2 Place

Burberry has three main channels of sales: retail, wholesale and licensing. Burberrys place strategy is evolving from a wholesale model to a dynamic retail model with a global reach. By increasing the B2C over the B2B, Burberry controls and enlarges the messages aligned with the positioning statements in the store.

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Burberry was being sold across London but not in Harrods or Selfridges (Moore, 2004). The flagship store concept was rolled out and Burberry moved back to its original site in Haymarket thus again leveraging the brands heritage. The flagship store was crucial for the growth of brand equity as it fulfils the requirements of brand building. The store not only makes a statement of intent by being in a prestigious area but also exerts the brand identity; from entering the doors you are “within a management device that

serves to establish an experience as a context for the wider activities of the brand” (Doyle, 2008). Flagship stores also give a clear, consistent and relevant statement of the brand, projecting its personality on a global stage

The Global presence objective is directly related to the equity of the brand around the world. The brand is building awareness in over 80 countries with clear priorities in terms of the potential of the market. Burberry is focusing to develop the brand in under-penetrated markets. (Burberry, 2010-2011)The message is consistent, since they not only invest in potential markets, but also close operations in countries that are not building image consistent with the brand. They opened four and 50 stores in US and China respectively and conversely closed operations in Spain since the brand became overexposed (Milligan, 2010)

From the most exclusive and inspirational design, to the most simple model of affordable products, stores are defined by the potential of that particular market in terms of sale and brand awareness. Wholesale are strategically used to build awareness in emerging economies, and then sometimes are upgraded if the market responds. This strategy also responds to an increasingly multi-channel customer, who has more interests than before.

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11 1.5.1 Employees

Burberry considers its employees as „internal customers‟ (Burberry, 2010) which fosters an employee engagement with the brand. Burberry uses various in house programmes to ensure excellent customer service and develop the equity in the process.

From the selection of the employees to the assimilation of the human capital in the company culture it is done with the sole purpose of giving the best experience to the customer and building brand in the eyes of the consumer. Christopher Bailey, the creative director, ensures employees are aware of products being launched and to involve them as the main actors of each campaign and thus using the internal customer in building equity for the brand.

1.5.2 Pricing Strategy

Their price strategy has two elements: they focus in value and segmentation of markets. A luxury price strategy needs to be backed up with premium service and aftercare, since customers are service-sensitive buyers. Burberry has segmented products by price in four categories, from the most exclusive and expensive to the more affordable ones.

In segmentation, the highest hierarchy segment should be aspirational to the lower ones, as a magnetic for customer of lower ranked products. However it is complex to establishing frontiers between segments. (Kiley, 2007)

Burberry has also distinguished from competitors by sticking to their price strategy. During the recession, many firms employed panic pricing; however Burberry held prices on core offerings (Burton, 2011).

1.5.3 Promotion strategy

Burberry has a diverse and powerful marketing communication tool to generate a cohesive brand identity.

With the advent of the internet, Burberry has changed the Advertising emphasis from traditional methods to “new” media.

Burberry has used a celebrity endorsement like Emma Watson, to communicate with younger consumers (Riston, 2011). Top management is also involved in advertising campaigns to reinforce the identity of the brand.

This strategy increases the associations that consumers have with the brand.

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12 "Retail Theatre" is a significant source of promotion and sales for the brand. This concept was initaiated by Burberry.

It allows the live streaming of runway shows directly to flagships stores globally. Customers watch the show in real time, they can buy products from the collection on Ipads an they are able to purchase the product several months before the items are available in store, this gives a cachet of exclusivity.

It is modern way of selling the product. The experience is exiting and unique. The customer feels like being part of the life of the brand.

Several events have been designed by the brand to transmit customer's experience as it is one of priorities of the brand "The experience would be that the customer will be total access to Burberry across any device, anywhere and

they would get exactly the same feeling of the brand" (Saleforce, 2011).

ArtofTrench.com

Burberry created its own version of Facebook for its iconic product:

In ArtofTrench.com customers are able to upload their pictures wearing the "Trench Coat".

According to the (Burberry, 2010-2011) "The Group‟s own social media site, artofthetrench.com,

continued to inspire people around the world and across generations to share their experiences of

the iconic trench coat”, the site had received more than 11 million page views since its launch in

November 2009"(Zeitgeistminds, 2011)

ArtofTrench.com allows the social community to interact with the product and contribute to the brand

image. This is an excellent tool for brand promotion without expending significant capital.

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13 Acoustic Campaign

This is a collaborative "Site featuring music and videos from emerging British artists" (Ahrendts,

2011). Groups promote their songs and the image of the brand is associated with art and inspiration.

Burberry acoustic campaign strategy is to sell the brand in a democratic manner and target the "younger millennial customer"(Bailey, 2011)

Feelings

One of the values for Burberry is to communicate feelings to customers. It allows to creates an intimate connection between the brand and the customer's identity. When the brand creates emotions, the customer buys the product to prove his engagement with the brand. For example, Burberry created a specific song untitled "The Feeling" for the promotion of its last fragrance.

(Burberry, 2010-2011)

Ensuring a quality customer relationship management (CRM) service is critical for a brand positioned within the luxury niche. The fact that the Trench coat is virtually indestructible may seem a poor concept of product life cycle application, furthermore, Burberry are still selling buttons and accessories to those who have bought “vintage” coats. However negative this may seem from a financial perspective, supporting these customers has enhanced the brand awareness and built up brand equity. This forward thinking approach has generated new customers, who may be small scale but are now firm advocates of the brand who aspire to purchase full cost items and more importantly will espouse the virtues of this superior customer service and thus the brand as a whole (Lilibeau, 2010)

Burberry has also worked effectively on its After-Sales Service. It has implemented global repair centres and an International Return Policy ensuring a personalised experience at every interaction with the brand.

Burberry re-segmented their target market focusing "on the younger millennial customer" (Bailey, 2011) Jobber states “the focus was to emphasize the new credentials of the brand without casting of its roots”. “Bravo has said that the famous picture of supermodel Kate Moss in a Burberry check bra cut the average age of Burberry's customer by some 30 years.” (Carayol, 2005). By executing this

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14 strategy the salience and imagery of the brand in the context of consumer perception was reinforced and brand equity further strengthened.

The consistency and clarity of the brand is carried out throughout all of the stores and across all products. The DNA of the brand heritage, “Britishness is the key differentiator” (Bailey, 2011) and the Trench coat are entwined through all aspects of Burberry, by trading on these points of difference Burberry have carved a large market share, but also have ensured that their brand commands a price premium and great profitability (Burberry, 2010-2011).

1.5.4 Burberry's Brand Strategy

Following the analysis of Burberrys personality positioning and the methodology with which the company has built the equity, the brand strategy of Burberry can be summarised with the utilisation of Kellers customer based brand equity pyramid.

Burberry built up brand salience by ensuring consumers associate the brand with their specific needs and the product class (Keller, 2009). By utilising conventional media and pioneering social media communications consumers have a depth and breadth of association with Burberry as being British, trendy, accessible high end fashion.

To ensure that the consumers value proposition is met, Burberry have to ensure that not only their products meet customers' demands but more importantly the value added services meet or exceed consumer expectations. Brand performance is a key differentiator and if gaps either in service or product quality appears the value proposition is tarnished and the consumer will be at the least disappointed.

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15 Brand imagery is an intangible property of the brand but a crucial aspect. Ten years ago Burberry had high brand awareness but for all the wrong reasons. Over Burberrys latest evolution to present day they have worked hard to divest their negative associations of “chavs” and the upper class and put all efforts into strengthening the positives and repositioning their customer base.

Keller states that the four most important brand judgements are comprised of quality, credibility, consideration and superiority. Burberry is fulfilling the criteria of credibility as they are market leaders in social media and pioneering the digital revolution. Furthermore, in respect of superiority Burberry has carved many unique associations into consumer‟s awareness with the brand, for example the trench coat and check.

Brand Feelings are the emotional response which is engendered when consumers think of the brand. Again this is a crucial aspect as if the feelings are negative, the brand equity is eroded.

At the peak of the pyramid is the pinnacle of brand equity, the resonance. The previous items are all required to reach this. If any are missing the pyramid fails. The resonance is the amount that consumers are in tune with the brand, the way they connect to it; if they are connected then they will advocate the virtues of the brand. The benefit for this is that the customers will return and generate income for the brand on a repeat basis.

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2 SECOND QUESTION

2.1 Introduction

Previously it was concluded that Burberry brand is positioned well with excellent performance and a strong marketing strategy. However, they are in a dynamic market with strong competitors, evolving customers which increases the complexity of any branding decisions made for the future. Furthermore, price elasticity in the luxury brand industry is very low (Stephen S. Tax, 2006). Burberrys consumers are seeking not only for the highest quality product, but also for the highest, differentiated or even customized service. (Berry, 2006) Accordingly, Burberry should concentrate on service marketing.

This section will analyse and clarify the potential weaknesses of Burberrys current brand strategy and propose solutions from the „service as a drama‟ model (Grove and Fisk 1983). In this model, there are three important components: a stage, actors and an audience. In terms of Burberry service marketing strategy, these components mean a place, the company and their consumers. Furthermore, by extending and developing of each component of the model, Burberry can better position themselves to ensure future profitability and sustainable competitive advantage (Lesh, 1991).

Lastly, by utilizing the principles of creating shared value (Porter, 2011), another method of implementing their long-term business sustainability and profitability can be utilised.

According to Grove and Fisk services are by their nature intangible, heterogeneous, inseparable and perishable, they create unique strategic challenges.

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2.2 Enlarging Audience-Cost

2.2.1 Loyalty Plans and Alliances

The “audience” refers to customers and they are evolving rapidly; they want to pay more for luxury goods because of the association to life quality. However, consumers have also modified their approach to shopping; therefore brands need to evolve with the same dynamic. Conversely, competitors already understand this changing behaviour in the consumer and therefore focus for differentiation from its competition is to create loyal customers. “If people are treated well, they should not want to go anywhere else.” (West, Ford and Ibrahim, 2010)

Recommendations

The emotional connection between brand and consumers is important; there are many players, many of them focusing in the same market. However, each Brand satisfies different needs and has generated their own unique differentiators. An possible solution improving service profitability involves strategic partnering between different service providers. “Alliances can effectively be used to strengthen brands and cut costs.” (West, Ford and Ibrahim, 2010)

In order to use these alliances to strengthen relationships with customers, the suggestion is to promote a loyalty plan that stands apart from the rest of loyalty plans in the market. The way of doing this is focusing in the most relevant emotions that their target consumers seek. Through buying products customers can gain points that they can exchange for attractive items.

Experience of Shopping (1 day $10 K) - One day of shopping in Burberry‟s stores with one designer.

Breakfast at Tiffany‟s Experience (Breakfast-SPA-Hotel) - Women‟s experience, where they can have a luxury day as in the movie.

James Bond Experience (Dinner-Car-Hotel) - Men‟s experience, for an intrepid, memorable and elegant day.

These are some examples of brands that have similar brand images to Burberry.

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18 The partners should have the same Brand equity and image as Burberry as anything less will diminish Burberrys brand. Furthermore, alliances can effectively be used to strengthen brands and cut costs. (West, Ford and Ibrahim, 2010)

2.3 Enlarging Actors-Employees

2.3.1 Threat to Brand from Executive Dependency

A Wall Street Journal survey completed in 30 companies in the S&P 500-stock index which looked at the performance of the companies with a change in CEOs between Jan 2005 and Jun 2007 states that both the companies‟ shares and their brand image has declined invariably in many instances (Journal, 2008). A study conducted among financial advisors and high-net-worth investors by business and financial communications consultancy FD found that a company can lose in excess of 30 percent of its share value as a result of a highly publicized crisis. ( FD Consultancy, 2008)

Burberry had a decline in its fortunes and its image during the phase preceding Rose Marie Bravo becoming the CEO. With the two changes in the leadership, first with Bravo and now Angela Ahrendts, the brand has seen a marked rise in the image. Burberry‟s

image is not only dependent on its CEO but also on its Chief design officer (CDO), Christopher

Bailey. The current positioning through its designs and the products are due to Christopher‟s influence and the company has for the last decade kept its designer strategies completely within house

2.3.1.1 Recommendations

The 34th Annual Board of Directors study by Korn/Ferry International states that 84% of boards of directors believe in the importance of a succession plan for the CEO but less than half of them actually had such a plan in process (Institute, 2008).

For Burberry the natural process would be to have a succession plan not only for its current CEO, but also for its (CDO). Some of the recommendations for the same are:

Follow the example of TATA group of companies, which has been training three of its internal leaders for the last 10 years with the possibility of replacing their iconic leader. Burberry needs to identify a set of internal people ready to take up the top job since an internal person can carry forward the current successful strategies for the brand. In the year 2008, nearly 76% of the new CEOs were internally hired. (Booz and Co. 2009) Also identify the emerging leaders in the industry and monitor them as a large 24% of the CEOs hired also seem to be from outside. But the biggest challenge seems to be the involuntary exits of senior management when an outside CEOs takes over, being extremely high at an average of 26%. (Kevin et al 2007)

With the spread of the brand it would also become increasingly important to have international designers in its talent pool. While they need to continue with the core ethos of being “British” they will have to expand their creativity to suit other cultures. The best way to tackle the over dependence on a single person would be to create a multi polar team with international sensitivities managed by an individual. This will ensure that one person leaving will not directly impact the brand internationally.

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19 2.4 Enlarging Stage-Market

2.4.1 Digital Innovation Challenges

Burberry believes in the new mantra „innovate or die‟ its CEO makes this evident by saying “Burberry is a design-driven organization; Innovation is in its DNA, it‟s inevitable”. (Thinkvoices, 2011) In 2009 Burberry launched its own social networking site Artofthetrench.com and Bespoke.

The bolstering in its digital approach had a marked effect on its sales (24% global increase) which strengthens the fact that Burberry needs to showcase itself more in the digital space (Burberry, 2010-2011).

There are strong chances of a brand becoming overexposed as a result of trading on the Internet and subsequently becoming devalued. It happens if the luxury brand „fails to design and implement its Web proposition correctly and falls short of consumer expectations with regard to content and presentation.” (Cocoran, 2007) This would result in a huge loss of brand image.

2.4.1.1 Recommendations

Keeping these viewpoints in mind, Burberry should focus on its wide emergence in the digital space and constant involvement of consumers with the brand. The lack of online buying experience should not delineate the customers from the brand. The digital platform should be such that the customers can feel the comfort and “luxury” of the online purchase. Online change rooms, review from experts, easy purchase and smooth cash transactions should be its key elements.

The use of Avatars should be adopted as then customers can create their own self digital image and replace the models with themselves. This gives a concept of „personal touch‟ to the customer by the brand.

Once the selection is complete, the user interacts with the leading designers and shares it for reviews.

Burberry can extend its social networking site Artofthetrench.com so that the user can share their selections to their friends for more personal reviews.

All these suggestions would develop the „emotional connect‟ between the consumer and the brand since the purchasing experience gives a feel of grandeur and opulence. After all, he gets his silk-lined stylish trench-coat at his doorstep by some clicks.

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20 2.4.2 Demographic Risk

One of the primary threats to Burberry could be its own positioning as „functional luxury‟ which leads in alienating the age band of 18 to 25, and gives a lower value to the functional positioning than to the basic positioning of “fashionable” by Gucci and Louis Vuitton. This is more relevant as Burberry carries a baggage of being known as a brand for the middle aged. The changing power of purchase is clearly shown in this study by McKinsey in China (Atsmon, 2009) which shows a stark difference in the demography of emerging markets as compared to the mature ones. 80% of the wealthy population in China is in the age band between 18- 44 years which is nearly three times and more than 4 times of US and Japan, respectively.

While the shift and focus on the digital media and the inclusion of youth icons like Emma Watson in the print campaigns is a positive step towards changing this image it might not be enough as the entire industry has been following this.

2.4.2.1 Recommendations

Some initiatives to attract and hold the attention of the „Y‟ generation are:

Create a range especially for the age group between 16 and 24 years. As this is the fastest growing new customers in luxury segment especially in the emerging markets, it will be crucial to target them separately. Currently the clothing range is segmented only in kids and adults. In the apparel range there too needs to be a focus on this generation with trendier and modern designs. Burberry is quite robust in its digital marketing but it needs to have a separate interactive and trendy platform for the „Y‟ generation age group. This could be done using their Facebook account, but will make a bigger impact if the same is done through their home site. Integrating this platform in the mobile devices would give more access to this generation.

Create associations with the student community through sponsorship of events both in the universities and outside. While it could be debated that this is not the target segment, the idea here being the change in brand positioning with the objective of increasing the „Top of the Mind‟ and creating an aspiration value within the younger generation.

It‟s been noticed increasingly that the presentation of the product makes a huge impact on the customers, particularly in the aforementioned age segment. A clear positioning and display of the new range for youth between 18 and 24 would be essential to position the brand. The power of presentation study done by McKinsey (Atsmon Y, 2009) in China gives a clear idea about the impact of presentation in the „top of the mind‟ of the target segment, as shown in the chart. Burberry was ranked lowest in both visual presentation as well as the overall merchandise appeal.

Marketing Assignment Page 21

21

2.5 Corporate Shared Value

As a representative brand of the UK, Burberry group has contributed to society in various ways. In order to build ethical supply chain, they set up a Group‟s Ethical Trading Policy which focused on animal welfare guidelines and the exotic skins supply chain. Consequently, the release of a common Animal Welfare Policy by the Group was communicated to Burberry suppliers, detailing its high expectations in respect of welfare standards. Furthermore, the group has established Burberry Foundation in 2008 (UK registered charity number 1123102) to create strategic philanthropy platform (Burberry, 2010-2011).

Through CSR, Burberry can make itself more reliable and trustworthy. However, CSR is only a short-term process. As a long-term strategy, Burberry needs to create a shared value to ensure its sustainability and stability.

Recommendations

Health care coverage

Burberry employs 6,681 people (Burberry, 2010-2011). It could minimize the health care cost by helping employees stop smoking and supplying food for lunch. Johnson & Johnson Company has saved $250 million on health care costs by helping employees stop smoking. Furthermore, Johnson and Johnson also benefited from higher employee productivity (Porter, 2011).This strategy can help to create social value, in terms of creating hygienic environment, and also to create business value, in terms of cost savings.

Establish schools in Emerging country

In September 2011, Burberry acquired 50 retail stores in China (Burberry, 2010-2011). In order to succeed, it needs to train the local people and hire them. Keeping in mind the lack of skilled manpower and the inferior quality of education system in China, Burberry should initiate and seek to establish schools for the under-privileged children in local society. This contributes in creating a social value and strengthens the relationship with local people. Furthermore, the company can also provide higher education in design, marketing and retail business for outstanding students. Thus Burberry can secure a high quality human resource recruiting local talents who can help the company to understand their market culture and customer‟s needs. This strategy helps in creating social value and creates long term business value.

Marketing Assignment Page 22

22

2.6 Conclusion

As previously stated, these are potential weaknesses and not something threatening Burberrys existence. Considering the changes and dynamics in the fashion industry it is important that Burberry keeps reinventing itself

The focus on their demography and their interaction through innovative digital media will clearly help them in the ever changing customer base. By having a clear succession plan for their executives will ensure that they do not have a crisis because of executive turnover but also keep the company culture moving forward. The importance of shared value becomes all the more important to Burberry as they shift to newer markets and the opportunity to contribute back to the society greatly increases. This will mean that as we speak about the company‟s legacy in the field of fashion for the last 150 years, future generations remember Burberry for their values as well as their products.

Marketing Assignment Page 23

23

3 APPENDIX

3.1 Best Global Luxury Brands

3.2 Digital IQ Ranking

Marketing Assignment Page 24

24

3.3 Strategic plan

Marketing Assignment Page 25

25

4 WORK CITED

Ahrendts, A. (2011) 'Chief executive officer‟s letter', in PLC, B.G. (ed.) Annual Report.

Anon (2008) The luxury brand with a chequered past, Burberry's shaken off its chav image to become the fashionistas' favourite once more, 2 Jun, [Online], Available: www.dailymail.co.uk/femail/article-1023460/Burberrys-shaken-chav-ima [20 Nov 2011].

Anonymous (2002) GREAT BRITISH BRANDS: Burberry - Fashionable from the 1920s through to the 1960s, Burberry declined with deferential society but is now reborn, 1 Aug,

[Online], Available: http://www.marketingmagazine.co.uk/news/154758/ [15 Nov 2011].

Anonymous (2004) 'Louis Vuitton Kicks off Its 150th Anniversary by Opening Its Largest Store, on New York's Fifth Avenue', Business Wire, Feb , p. 1.

Anonymous (2010) Difference between Gucci and Louis Vuitton, [Online], Available:

http://recomparison.com/comparisons/101459/gucci-vs-louis-vuitton/ [9 Nov 2011].

Anonymous (2011) 'China's VIPStore Expands Luxury Brand Portfolio', PR Newswire, Aug,

p. 1.

Anonymous (2011) 'History Lesson', WWD, vol. 201, no. 38, Feb , p. 2.

Atsmon Y, D.J.D.V.M.I. (2009) 'The Coming Age, China's new class of wealth consumer', Insight China by McKinsey&Company, May, p. 32, Available: http://www.mckinsey.com/locations/greaterchina/mckonchina/reports/mcKinsey_wealthy_consumer_report.pdf [17 Nov 2011].

Ayling, J. (2011) What next for Burberry?, 27 May, [Online], Available: http://www.just-

style.com/the-just-style-blog/what-next-for-burberry_id1976.aspx [19 Nov 2011].

Bailey, C. (2011) 'Women at the top'.

Berry, L.L. (2006) 'On Great Service, A Framework for Action', New York: Free Press, vol. 1,

no. 2006, Mar, pp. 87-90.

Bockstette, V. and Stamp, M. (2011) Creating Shared Value: A How-to Guide for the New Corporate (R)evolution, 16 September, [Online].

Bolshow, L. (2011) 'Women at the top', Financial Times, Nov, p. 19.

Booz and Co. (2009) 'CEO Succession 2008- stability in the storm', Reputation Rx, Apr, p. 1.

Bothwell, C. (2005) Burberry versus The Chavs, 28 Oct, [Online], Available:

http://news.bbc.co.uk/1/hi/business/4381140.stm [15 Nov 2011].

Burberry (2010) Angela Ahrendts on Burberry Results, 26 May 2010 , 25 May, [Online],

Available: http://youtu.be/yk8crJJzk7A [15 Nov 2011].

Burberry (2010) Angela Ahrendts, Burberry CEO, at World Retail Congress 2010, 3 Nov,

[Online], Available: http://www.youtube.com/watch?v=UbEj0hNW4Eg&feature=youtu.be [9 Nov 2011].

Marketing Assignment Page 26

26 Burberry (2010) Burberry Store Opening Event in Beirut, Lebanon, 4 Jun, [Online],

Available: http://youtu.be/GyaY6iKW-e4 [14 Nov 2011].

Burberry (2010) SHOPPING AT BURBERRY 4 BAGS, CLOTHES (Spycam), 9 Jun, [Online],

Available: http://youtu.be/qzDYamQlPsc [18 Nov 2011].

Burberry, G. (2010-2011) 'Burberry Annual Report', Jun, p. 148, Available: http://201011.annualreport.burberry.com/ [10 Nov 2011].

Burberry, G. (2010-2011) 'LEVERAGING THE FRANCH ISE', in Burberry, G. Burberry Annual Report.

Burberry (2011) The Feeling - Behind the Recording of Rosé (Unplugged at Abbey Road for Burberry Body), 11 Oct, [Online], Available: http://youtu.be/MFfg_nk2COk [15 Nov 2011].

Carayol, R. (2005) The Observer, 6 February, [Online], Available:

http://www.guardian.co.uk/business/2005/feb/06/theobserver.observerbusiness13 [20 Novemeber 2011].

Castelli, C.a.B.A. (2010) 'Alignment of retail channels in the fashion supply chain An empirical study of Italian fashion retailers', International Journal of Retail & Distribution Management, vol. 38, pp. 24-44.

Cocoran, I. (2007) 'The Luxury Media', in Allworth (ed.) The Art of Digital Branding, 1st

edition, London: Allworth.

Consultancy, F. (2008) 'Reputation in crisis', FD Consultancy report, Oct.

Datamonitor (2011) Premium consumer goods: the trend continues to gather momentum but challenges remain, 4 Oct, [Online], Available:

http://www.datamonitor.com/store/News/premium_consumer_goods_the_trend_continues_to_gather_momentum_but_challenges_remain?productid=E3E24076-3519-4DCF-963E-60610F931A98 [19 Nov 2011].

Didier, L.C. (2010) 'impact of brand personality on three major relational cosequenses (trust, attachment and committment to the brand)', Journal of product and mangement, vol. 19, no.

2, pp. 114 -130.

Doyle, S.M.C.D.A.H.M. (2008) 'Brand context and control: the role of the flagship store in B&B Italia', International Journal of Retail & Distribution Management, vol. 36, no. 7, pp. 551-563.

Edelman, D.C. (2010) 'Branding in the digital age', Harvard Business Review, pp. 61-69.

Ennis, S. (2010) Marketing Management, Strathclyde business school.

Ernie, S. (2009) Burberry Launches Social Media Site, [Online], Available:

http://directcommercesystems.blogspot.com/2009/11/burberry-launches-social-media-site.html [10 Nov 2011].

Fournier, J.A.J. (2011) 'The uninvited brand', Business Horizons , no. 54, pp. 193-207.

Galloway, S. (2010) Digital IQ Index: Luxury, [Online], Available:

http://l2thinktank.com/research/travel-2011/ [15 Nov 2011].

Marketing Assignment Page 27

27 Grove, S.J..F.R.P. (1983) 'The Dramaturgy of Services Exchange: An Analytical

Framework for Services Marketing', Emerging Perspectives on Services Marketing, vol. 1,

no. 1983, Feb, pp. 45-49.

Institute, K. (2008) 'Korn/Ferry International's 34th Annual Board of Directors Study', The Korn Institute, Dec, p. 48.

Interbrand (2011) Best Global Brands 2011.

journal, T.w.S. (2008) '99 Tips to Safekeeping Reputation', The wall Street journal, Jun, p. 1.

Journal, T.W.S. (2008) 'CEO TURNOVER', The Wall Street Journal.

Keller, K.L. (2008) Strategic Brand Management, 3rd edition, New Jersey: Pearson Prentice

Hall.

Keller, K.L. (2009) 'Building strong brands in a modern marketing communications environment', Marketing Communications, pp. 15:2-3, 139-15.

Kevin, P., J, C., Edward, J. and Sr, C. (2007) 'Surviving your new CEO', Harvard Business Review, May.

Kiley, D. (2007) How five names in this year's rankings staged their turnarounds, 6 Aug,

[Online], Available: http://www.businessweek.com/magazine/content/07_32/b4045401.htm [15 Nov 2011].

Kotler, P.K.K. (2009) Marketing Management, 13th edition, New Jersey.

L. Aaker, J. (1997) 'Dimensions of Brand Peronality', J.M.R. Journal of Marketing Research,

vol. XXXIV, Aug.

Lesh, A.C.J.a.A.D. (1991) 'Financial service', AMA of Handbook of Marketing for the Service Industries, vol. 1, no. 1991, Dec, pp. 469-477.

Lilibeau (2010) Burberry customer service, 31 Mar, [Online], Available:

http://forum.purseblog.com/burberry/burberry-customer-service-574180.html [14 Nov 2011].

Martin, S. (2010) News Release: Burberry, Louis Vuitton Lead Luxury Firms For In-Store Customer Experience, 11 Mar, [Online], Available: http://blog.luxuryinstitute.com/?tag=mystery-shopper [14 Nov 2011 ].

Mees, A.&.B.J. (2006) Corporate social responsibility belongs with HR, 11 Dec, [Online],

Available: http://www.business.curtin.edu.au/files/GSB_Working_Paper_No._62_Corp_Social_Resp_A_definition_Thomas___Nowak.pdf [20 Nov 2011].

Merrison, E. (2010) Burberry Success Down To Friends In iPlaces, 21 Sep, [Online],

Available: http://news.sky.com/home/business/article/15738724 [17 Nov 2011].

Miceal, D.F.L.a.T..S. (2010) Marketing communications; A Brand Narrative approach, 1st

edition, Manhattan: John Willey & Sons.

Milligan, L. (2010) Spanish Withdrawal, 18 Feb, [Online], Available:

http://www.vogue.co.uk/news/2010/02/18/burberry-closes-its-spanish-operation [18 Nov 2011].

Marketing Assignment Page 28

28 Moore, C.M..F.J.a.B.S. (2000) 'Brands without boundaries: the internationalisation of the

designer retailer‟s brand', European Journal of Marketing, vol. 34, no. 8, pp. 919-37.

Moore, C..&.B.G. (2004) The Burberry business model: creating an international luxury fashion brand.

Moore, C.M.a.B.G. (2004) 'The nature of parenting advantage in luxury fashion retailing – the case of Gucci Group NV', International Journal of Retail & Distribution Management, no. 4, 256-270, p. 33.

Moore, C.D.A.D.S. (2010) 'Flagship stores as a market entry', European Journal of Marketing, vol. 44, no. 1/2, pp. 139-161.

Porter, M.&.K.M. (2011) 'Creating Social Value, Harvard Business Review.', Harvard Business Review, Jan-Feb, p. 17.

Riston, M. (2011) Burberry offers a lesson in consistency, 1 Jun, [Online], Available:

http://www.marketingweek.co.uk/opinion/burberry-offers-a-lesson-in-consistency/3026964.article [9 Nov 2011].

Rosie, B. (2010) Burberry appoints chief marketing officer, 19 Oct, [Online], Available:

http://www.marketingweek.co.uk/sectors/retail/news/burberry-appoints-chief-marketing-officer/3019481.article [10 Nov 2011].

Rosie, B. (2011) Burberry dedicates 60% of marketing spend to digital, 1 Sept, [Online],

Available: http://www.marketingweek.co.uk/sectors/retail/burberry-dedicates-60-of-marketing-spend-to-digital/3029739.article [10 Nov 2011].

Saleforce (2011) Burberry uses salesforce.com to create the ultimate Social Enterprise, 30

Aug, [Online], Available: http://youtu.be/tpjMWNF9JqY [15 Nov 2011].

Sherman, L. (2010) The World‟s 10 Most Powerful Luxury Brands, 28 Apr, [Online],

Available: http://fashionista.com/2010/04/the-worlds-most-powerful-luxury-brands/ [9 Nov 2011].

Stelzner, M.A. (2011) How Marketers Are Using Social Media to Grow Their Businesses,

April, [Online], Available: http://www.socialmediaexaminer.com/SocialMediaMarketingReport2011.pdf.

Stephen S. Tax, M.C.a.D.B. (2006) 'How to Prevent Your Customers form Failing', MIT Sloan Management Review, vol. 7, no. 2006, Mar, pp. 30-38.

Thinkvoices (2011) Innovate to Survive - Angela Ahrendts, Burberry, 21 Jun, [Online],

Available: http://youtu.be/9R4HKyyu1As [18 Nov 2011].

West, Ford and Ibrahim (2010) 'Strategic Marketing 2e', Oxford University Press, p. Chapter 9.

Wilkinson & Grist, B. (2006) 'Good news in the fight against counterfeiting', Managing Intellectual Property, Jun, p. 1.

Zeitgeistminds (2011) Brand Relevance - Angela Ahrendts & Evan Davis at European Zeitgeist 2011 , 16 May, [Online], Available: http://www.youtube.com/watch?v=nfQY6EMNQoI [12 Nov 2011].

Marketing Assignment Page 29

29

5 BIBLIOGRAPHY

Ahrendts, A. (2011) 'Chief executive officer‟s letter', in PLC, B.G. (ed.) Annual Report.

Anon (2008) The luxury brand with a chequered past, Burberry's shaken off its chav image to become the fashionistas' favourite once more, 2 Jun, [Online], Available: www.dailymail.co.uk/femail/article-1023460/Burberrys-shaken-chav-ima [20 Nov 2011].

Anonymous (2002) GREAT BRITISH BRANDS: Burberry - Fashionable from the 1920s through to the 1960s, Burberry declined with deferential society but is now reborn, 1 Aug,

[Online], Available: http://www.marketingmagazine.co.uk/news/154758/ [15 Nov 2011].

Anonymous (2004) 'Louis Vuitton Kicks off Its 150th Anniversary by Opening Its Largest Store, on New York's Fifth Avenue', Business Wire, Feb , p. 1.

Anonymous (2010) Difference between Gucci and Louis Vuitton, [Online], Available:

http://recomparison.com/comparisons/101459/gucci-vs-louis-vuitton/ [9 Nov 2011].

Anonymous (2011) 'China's VIPStore Expands Luxury Brand Portfolio', PR Newswire, Aug,

p. 1.

Anonymous (2011) 'History Lesson', WWD, vol. 201, no. 38, Feb , p. 2.

Atsmon Y, D.J.D.V.M.I. (2009) 'The Coming Age, China's new class of wealth consumer', Insight China by McKinsey&Company, May, p. 32, Available:

http://www.mckinsey.com/locations/greaterchina/mckonchina/reports/mcKinsey_wealthy_consumer_report.pdf [17 Nov 2011].

Ayling, J. (2011) What next for Burberry?, 27 May, [Online], Available: http://www.just-

style.com/the-just-style-blog/what-next-for-burberry_id1976.aspx [19 Nov 2011].

Bailey, C. (2011) 'Women at the top'.

Berry, L.L. (2006) 'On Great Service, A Framework for Action', New York: Free Press, vol. 1,

no. 2006, Mar, pp. 87-90.

Bockstette, V. and Stamp, M. (2011) Creating Shared Value: A How-to Guide for the New Corporate (R)evolution, 16 September, [Online].

Bolshow, L. (2011) 'Women at the top', Financial Times, Nov, p. 19.

Booz and Co. (2009) 'CEO Succession 2008- stability in the storm', Reputation Rx, Apr, p. 1.

Bothwell, C. (2005) Burberry versus The Chavs, 28 Oct, [Online], Available:

http://news.bbc.co.uk/1/hi/business/4381140.stm [15 Nov 2011].

Burberry (2010) Angela Ahrendts on Burberry Results, 26 May 2010 , 25 May, [Online],

Available: http://youtu.be/yk8crJJzk7A [15 Nov 2011].

Burberry (2010) Angela Ahrendts, Burberry CEO, at World Retail Congress 2010, 3 Nov,

[Online], Available: http://www.youtube.com/watch?v=UbEj0hNW4Eg&feature=youtu.be [9 Nov 2011].

Marketing Assignment Page 30

30 Burberry (2010) Burberry Store Opening Event in Beirut, Lebanon, 4 Jun, [Online],

Available: http://youtu.be/GyaY6iKW-e4 [14 Nov 2011].

Burberry (2010) SHOPPING AT BURBERRY 4 BAGS, CLOTHES (Spycam), 9 Jun, [Online],

Available: http://youtu.be/qzDYamQlPsc [18 Nov 2011].

Burberry, G. (2010-2011) 'Burberry Annual Report', Jun, p. 148, Available: http://201011.annualreport.burberry.com/ [10 Nov 2011].

Burberry, G. (2010-2011) 'LEVERAGING THE FRANCH ISE', in Burberry, G. Burberry Annual Report.

Burberry (2011) The Feeling - Behind the Recording of Rosé (Unplugged at Abbey Road for Burberry Body), 11 Oct, [Online], Available: http://youtu.be/MFfg_nk2COk [15 Nov 2011].

Carayol, R. (2005) The Observer, 6 February, [Online], Available:

http://www.guardian.co.uk/business/2005/feb/06/theobserver.observerbusiness13 [20 Novemeber 2011].

Castelli, C.a.B.A. (2010) 'Alignment of retail channels in the fashion supply chain An empirical study of Italian fashion retailers', International Journal of Retail & Distribution Management, vol. 38, pp. 24-44.

Cocoran, I. (2007) 'The Luxury Media', in Allworth (ed.) The Art of Digital Branding, 1st

edition, London: Allworth.

Consultancy, F. (2008) 'Reputation in crisis', FD Consultancy report, Oct.

Datamonitor (2011) Premium consumer goods: the trend continues to gather momentum but challenges remain, 4 Oct, [Online], Available:

http://www.datamonitor.com/store/News/premium_consumer_goods_the_trend_continues_to_gather_momentum_but_challenges_remain?productid=E3E24076-3519-4DCF-963E-60610F931A98 [19 Nov 2011].

Didier, L.C. (2010) 'impact of brand personality on three major relational cosequenses (trust, attachment and committment to the brand)', Journal of product and mangement, vol. 19, no.

2, pp. 114 -130.

Doyle, S.M.C.D.A.H.M. (2008) 'Brand context and control: the role of the flagship store in B&B Italia', International Journal of Retail & Distribution Management, vol. 36, no. 7, pp. 551-563.

Edelman, D.C. (2010) 'Branding in the digital age', Harvard Business Review, pp. 61-69.

Ennis, S. (2010) Marketing Management, Strathclyde business school.

Ernie, S. (2009) Burberry Launches Social Media Site, [Online], Available:

http://directcommercesystems.blogspot.com/2009/11/burberry-launches-social-media-site.html [10 Nov 2011].

Fournier, J.A.J. (2011) 'The uninvited brand', Business Horizons , no. 54, pp. 193-207.

Galloway, S. (2010) Digital IQ Index: Luxury, [Online], Available:

http://l2thinktank.com/research/travel-2011/ [15 Nov 2011].

Marketing Assignment Page 31

31 Grove, S.J..F.R.P. (1983) 'The Dramaturgy of Services Exchange: An Analytical

Framework for Services Marketing', Emerging Perspectives on Services Marketing, vol. 1,

no. 1983, Feb, pp. 45-49.

Institute, K. (2008) 'Korn/Ferry International's 34th Annual Board of Directors Study', The Korn Institute, Dec, p. 48.

Interbrand (2011) Best Global Brands 2011.

journal, T.w.S. (2008) '99 Tips to Safekeeping Reputation', The wall Street journal, Jun, p. 1.

Journal, T.W.S. (2008) 'CEO TURNOVER', The Wall Street Journal.

Keller, K.L. (2008) Strategic Brand Management, 3rd edition, New Jersey: Pearson Prentice

Hall.

Keller, K.L. (2009) 'Building strong brands in a modern marketing communications environment', Marketing Communications, pp. 15:2-3, 139-15.

Kevin, P., J, C., Edward, J. and Sr, C. (2007) 'Surviving your new CEO', Harvard Business Review, May.

Kiley, D. (2007) How five names in this year's rankings staged their turnarounds, 6 Aug,

[Online], Available: http://www.businessweek.com/magazine/content/07_32/b4045401.htm [15 Nov 2011].

Kotler, P.K.K. (2009) Marketing Management, 13th edition, New Jersey.

L. Aaker, J. (1997) 'Dimensions of Brand Peronality', J.M.R. Journal of Marketing Research,

vol. XXXIV, Aug.

Lesh, A.C.J.a.A.D. (1991) 'Financial service', AMA of Handbook of Marketing for the Service Industries, vol. 1, no. 1991, Dec, pp. 469-477.

Lilibeau (2010) Burberry customer service, 31 Mar, [Online], Available:

http://forum.purseblog.com/burberry/burberry-customer-service-574180.html [14 Nov 2011].

Martin, S. (2010) News Release: Burberry, Louis Vuitton Lead Luxury Firms For In-Store Customer Experience, 11 Mar, [Online], Available: http://blog.luxuryinstitute.com/?tag=mystery-shopper [14 Nov 2011 ].

Mees, A.&.B.J. (2006) Corporate social responsibility belongs with HR, 11 Dec, [Online],

Available: http://www.business.curtin.edu.au/files/GSB_Working_Paper_No._62_Corp_Social_Resp_A_definition_Thomas___Nowak.pdf [20 Nov 2011].

Merrison, E. (2010) Burberry Success Down To Friends In iPlaces, 21 Sep, [Online],

Available: http://news.sky.com/home/business/article/15738724 [17 Nov 2011].

Miceal, D.F.L.a.T..S. (2010) Marketing communications; A Brand Narrative approach, 1st

edition, Manhattan: John Willey & Sons.

Milligan, L. (2010) Spanish Withdrawal, 18 Feb, [Online], Available:

http://www.vogue.co.uk/news/2010/02/18/burberry-closes-its-spanish-operation [18 Nov 2011].

Marketing Assignment Page 32

32 Moore, C.M..F.J.a.B.S. (2000) 'Brands without boundaries: the internationalisation of the

designer retailer‟s brand', European Journal of Marketing, vol. 34, no. 8, pp. 919-37.

Moore, C..&.B.G. (2004) The Burberry business model: creating an international luxury fashion brand.

Moore, C.M.a.B.G. (2004) 'The nature of parenting advantage in luxury fashion retailing – the case of Gucci Group NV', International Journal of Retail & Distribution Management, no. 4, 256-270, p. 33.

Moore, C.D.A.D.S. (2010) 'Flagship stores as a market entry', European Journal of Marketing, vol. 44, no. 1/2, pp. 139-161.

Porter, M.&.K.M. (2011) 'Creating Social Value, Harvard Business Review.', Harvard Business Review, Jan-Feb, p. 17.

Riston, M. (2011) Burberry offers a lesson in consistency, 1 Jun, [Online], Available:

http://www.marketingweek.co.uk/opinion/burberry-offers-a-lesson-in-consistency/3026964.article [9 Nov 2011].

Rosie, B. (2010) Burberry appoints chief marketing officer, 19 Oct, [Online], Available:

http://www.marketingweek.co.uk/sectors/retail/news/burberry-appoints-chief-marketing-officer/3019481.article [10 Nov 2011].

Rosie, B. (2011) Burberry dedicates 60% of marketing spend to digital, 1 Sept, [Online],

Available: http://www.marketingweek.co.uk/sectors/retail/burberry-dedicates-60-of-marketing-spend-to-digital/3029739.article [10 Nov 2011].

Saleforce (2011) Burberry uses salesforce.com to create the ultimate Social Enterprise, 30

Aug, [Online], Available: http://youtu.be/tpjMWNF9JqY [15 Nov 2011].

Sherman, L. (2010) The World‟s 10 Most Powerful Luxury Brands, 28 Apr, [Online],

Available: http://fashionista.com/2010/04/the-worlds-most-powerful-luxury-brands/ [9 Nov 2011].

Stelzner, M.A. (2011) How Marketers Are Using Social Media to Grow Their Businesses,

April, [Online], Available: http://www.socialmediaexaminer.com/SocialMediaMarketingReport2011.pdf.

Stephen S. Tax, M.C.a.D.B. (2006) 'How to Prevent Your Customers form Failing', MIT Sloan Management Review, vol. 7, no. 2006, Mar, pp. 30-38.

Thinkvoices (2011) Innovate to Survive - Angela Ahrendts, Burberry, 21 Jun, [Online],

Available: http://youtu.be/9R4HKyyu1As [18 Nov 2011].

West, Ford and Ibrahim (2010) 'Strategic Marketing 2e', Oxford University Press, p. Chapter 9.

Wilkinson & Grist, B. (2006) 'Good news in the fight against counterfeiting', Managing Intellectual Property, Jun, p. 1.

Zeitgeistminds (2011) Brand Relevance - Angela Ahrendts & Evan Davis at European Zeitgeist 2011 , 16 May, [Online], Available: http://www.youtube.com/watch?v=nfQY6EMNQoI [12 Nov 2011].