Burberry Consumer Profile Report Essays

Burberry Consumer Profile Report Essays Burberry Consumer Profile Report Paper Burberry Consumer Profile Report Paper We look at these characteristics as they are the elements of a potential customers life that can influence customers behavior before, during and after making a purchase. The target market for Barberrys womens wear is typically a young professional female, aged between 25 and 30 with a high level of disposable income. The MRS. Social grade States that young professionals who fall into social grades A and B earn a salary of thirty thousand pounds or more per annum (see figure 1 allowing them to have a high level of expenditure, which is supported by the graph shown in appendix A. Having an income this high would suggest that these nouns professionals have completed their higher education to a degree level, or even to the level of a masters or PhD (appendix B). The professionalism of Barberrys target market is expressed through the garments they sell, with a large collection of tailored pieces on offer to cater to the consumers needs (appendix C). 2. 2 Geographic Characteristics The geographic characteristics of a consumer do not just focus on where the consumer lives, but also the type of house they live in and their neighborhood, as well as where they shop. Having this information about he consumer will allow a further insight into the kind of lifestyle an individual has. Statistics show that the the social grade and income of an individual effects the size of the house they live in, and typically the higher social grades and incomes will have a larger property (appendices D and E). The young professionals that Barberry targets tend to own one or two bed properties (appendices D and E), suggesting that they live alone, and are therefore single, or share with somebody with whom they split the cost of rent, allowing them to have a higher level of expenditure. According to Acorn, the young professionals that Barberry target Generally own flats in major towns and cities that Have been built recently and are more usually found in urban locations, particularly London (Acorn, 2014: online). Living in these areas would suggest that there is easy access to a variety of different shops and facilities allowing them to fit their shopping in around work and other commitments without it being an inconvenience. 2. 3 Personality and Lifestyle Characteristics This category contains characteristics that are much more personal than hose mentioned in sections 2. And 2. 2, such as music tastes, type/number of cars and stage in lifestyle. Companies Will look at these characteristics to help them gain an even better idea of their target consumers lifestyle, and therefore be able to market and advertise their products more effectively. Using the information stated in section 2. 1 we can tell that because they live in major towns and cities, those in Buyers t arget market do not tend to own a car (appendix F), again allowing them to have extra money to spend on Barberry products, as they do not have to spend it on car insurance, tax and petrol. Living alone in a city without a car suggests that the consumer could be considered as being in the bachelor/peacock or early nester stage of their lifestyle, meaning that they are single or have just begun living with a partner and do not have any children, again giving them a higher level of disposable income. Buyers official website has a weeping titled acoustic, where customers can go to listen to the music of nouns British bands that Barberry believes in. (A, Politicking. 2010: online). This type of music is slow and relaxed, similar to that of the music played throughout Barberry stores. There is a huge focus on music throughout the brand; this is because chief creative officer, Christopher Bailey, feels that music Sets the directional mood for what were working on. (The Guardian, online: 2013). 2. 4 Attitudes, Interests and Opinions Characteristics Much like the characteristics of section 2. , the attitudes, interests and opinions can vary dramatically from consumer to consumer and looks at an individuals views, style, celebrity influences and clothing types. 3. 0 The Brand This section of this report refers to the different elements of the marketing mix to show and discuss how Barberry successfully utilize their knowledge of their target consumer and their resources to fit in with the overall target consumer environment. 3. 1 Product 3. 2 Price As Barberry is a premium designer brand the pricing of their products will reflect this. Barberry knows that their target consumer will be willing to pay high prices for their products as the high price of Buyers products suggests high quality, which is what their target consumer is after and therefore increases desirability of a product. Although all product prices are premium, Buyers price range will vary depending on which diffusion label you are purchasing from, as Barberry Proms is more expensive than Barberry London, which is more expensive than Barberry Bruit. Barberry use competitive pricing, putting the prices of their products similar to those of its competitors. Normally in an in store environment, Barberry will use the middle market approach to pricing, or a non-competitive price approach, meaning that product prices are not obviously displayed and are hidden away on labels inside the products, or not stated at all so that customers have to ask a sales assistant for a price. 3. Place Barberry sells its products to the consumer through physical retail channels, including mainline stores, concessions in prestige department stores, outlets and Barberry franchises, as well as through their own transactional website and the websites of stores such as Harrows, Selfridges, Harvey Nichols and other department stores in which they have concessions. As of March 31, 01 3, the company had 206 mainline stores, 214 concessions, 49 outlets, and 65 franchise stores to be found all over the world. (Yahoo, online: no date). The fact that Barberry mainl y sell through concessions have both advantages and disadvantages. Concessions are a less expensive way for a company to sell their brand in a new area and they give the customer an idea of what kind of brand you are, for example, concessions in Selfridges would give the impression of a high-end brand. On the other hand, concessions do not allow you to have your own brand identity, it is easier for customers to compare our products with other brands and they have less stock and therefore less choice. A large majority of Barberry stores are situated in greatly populated cities and areas where they will gain most customer contact. For instance, there are eleven Barberry stores and three concessions in London alone (see appendix G). Within these cities, Barberry stores are generally placed in large shopping Centers, busy high Streets and town centers. Placing their stores in these locations means that the infrastructure around them will typically be good with decent parking facilities, public transport links and a variety of laces to purchase food and drink, making the stores easily accessible, more pleasurable and less stressful to visit, increasing the chances of customers visiting again. Another benefit of having their stores in these locations is the high footfall of potential customers, the prime locations mean that even consumers who had not planned to visit the store may decide to go in and have a browse whilst passing by. It is extremely uncommon for Barberry stores to be found in a location where the stores surrounding it are not other designer brands that would be considered Barberrys competitors. Usually, the stores that neighbor and are close by Barberry will belong to brands such as Ralph Lauren, Gucci and YES, which not only helps attract a consumer that is more likely to make a purchase but also helps to keep the brands sense of exclusivity and expense. This is because these brands all have the same target consumer and attract the same customer. It would be less likely for a Barberry store to do well and generate sufficient income if it were surrounded by high street shops like Primary, HM and Tops as they have very different target markets. 4. Promotional Methods Promotion is widely known as the fourth p within the marketing mix and is the management process responsible for communicating with customers in order to inform and satisfy their needs and wants (Easy 2002:168). This section of the report focuses on the different promotional techniques used by Barberry to increase their brand awareness and to promote their products to their target consumer successfully in such a heavily saturated market. 4. 1 Advertising Barberry uses its advertisements to reinforce its luxury, classically British image. The ads feature iconic British backdrops, British icons, typically British weather and music from British bands that can be found on Barberry acoustic, mentioned in section 2. 3. As mentioned in section 2. 1 at the beginning of the report, the target consumer for Buyers womens wear is females aged 25-30 and by using celebrities and icons who would typically appeal to women of that age bracket in their advertisements, they are able increase the interest in the brand by a great amount. For example, visuals of model Car Delivering and actor Eddie Redeemed were released at the eight of Delusiveness career and just before the release of the 201 2 film production of Less Miserable, in which Redeemed has a leading role (figure 2). Barberry is known to have their visual advertisements in a variety of high-end fashion magazines including Vogue, Ell and Harpers Bazaar, all magazines that would appeal to their target consumer, as they advertise and display brands and products of the same nature to Barberry itself. As well as in magazine, Barberry has advertised their brand through other platforms, such as on billboards in cities like London and through television adverts, also tarring a selection Of famous faces with Romeo Beckman being a more recent addition to Buyers advertising campaigns. 4. 2 Public Relations Barberrys use of celebrity endorsement is by far one of their most successful forms of PR. In the past, the brand has secured great press coverage for their products by having them photographed on celebrities that are current and popular with their target market, and by ensuring that celebrities with whom their target audience can relate to are seen in Barberry products, Barberry can gain great exposure with minimal cost. For example, when One Directions Harry Styles was pictured on the front row at Buyers London Fashion Week show this summer, the show received over 21 , 000 mentions on social media, a figure that was considerably higher than other brands. In September 201 3, Barberry gained a lot of media attention when Harry Styles, Victoria Beckman and Ell Fanning were all photographed wearing the same Barberry Proms shirt. Following the release of the photos, a number of widely read fashion magazine and websites published who wore it best articles, which not only pushed Barberry into the public eye, but increased interest in the brand as fans wanted to know more about the shirt and even purchase it themselves.