As the brand has progressed, it has needed to evolve and reposition itself in order to stay relevant to consumers. Moving forward, Burberry needs to continue to evolve their product line extensions, increase their advertising budget, and maintain their position in-between lifestyle and fashion. Doing this will guarantee the brand long-term sustainability in a quickly shifting industry. Over the last decade, Burberry has progressed its image from an outwear manufacturer into a luxury lifestyle brand.
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In order to continue to grow as a brand and stay relevant, Burberry should extend their product line in order to reach a broader consumer base. For example, the lower-priced label’s like Thomas Burberry, Burberry Blue and Black should be available in a widespread market in order to appeal to “younger, more fashion-conscious customer” (Burberry, 5). This would allow the brand to target a younger consumer base, reach them at an appropriate price range and give them a strong brand association. In the end, this results in a loyal life-long luxury brand consumer.
Although this strategy has the risk of the brand losing some exclusivity, by extending product lines, Burberry has the ability to stay relevant and avoid becoming a stodgy luxury brand targeted at the wrong audience for long-term sustainability. In addition to product extensions, Burberry should continue to show their luxury Prorsum line. This line was designed to “reinforce Burberry’s new positioning in the luxury market” (Burberry, 5). It is important for Burberry to innovate and be seen as a fashion-forward brand that has the ability to adapt and set trends along with other luxury brands.
On the runway is where the brand can showcase their “brand with stature…and get editorial press for collections” (Burberry, 5). Burberry is in a constant effort to balance between a luxury and lifestyle brand. In order to continue to straddle between the two, Burberry must use Prorsum to target their high-end fashion consumers while the other extensions maintain their lifestyle brand image. The brand can maintain their exclusivity and varies their product extension lines in order to reach various consumers on all ends of the spectrums.
Finally, Burberry must expand their advertising budget. In 2002, Burberry only contributed 3% of their sales to their advertising budget, compared to the average of 8% among luxury brands (Burberry, 20). By using a more advertising, the brand can build its awareness and relevance in the mind of consumers. Burberry had success with the 1998/1999 Tenant/Moss campaigns and should use that as a template for successfully communicating a brand image consistent with their strategy.
In order to stay competitive, advertising should be used to create awareness, show a variety of looks targeted at its broad consumer base, and most of all stay consistent with Burberry’s luxury lifestyle brand. Burberry has built a strong foundation in the luxury fashion industry. Now that “everyone is a competitor”, the brand must continuously work to maintain their positioning with product extensions, innovation on the runway and additional advertising for long-term sustainability.
