Burberry Creative Advertising Business & Marketing Essay (Essay Sample)

BURBERRY'S CREATIVE ADVERTISING AND PROMOTION
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Introduction
The luxury goods industry rapidly evolves, and companies must act fast to stay ahead of the competition. Promotion and advertising cost remain high, but companies have to launch new products and creativity in their marketing to expand their market share. Burberry has a broad portfolio of brands and products that keeps growing. The company is British Luxury Company with the plans to run a sales promotion July 1, 2019, to June 30 2020. In the year 2018, the company only managed to have 4% of the total market share (Saing, 2019). The company is great with over 10, 000 employees and generating an income of 2,733 in the financial year of 2018 (Saing, 2019).
Moreover, the company operates 495 stores worldwide across the world making it one of the largest luxury brands all over the globe (Saing, 2019). Despite their massive turnover and brand name, the firm only enjoys 4% of the total market share and falls back to its primary competitors Vuitton who have 14% (Bhasin, 2019). Burberry established in 1856 in London had the recognition of distinct designs, innovation and artisanship. The company designs sell manufactures and develop a wide range of products ranging from cosmetics, fragrances, sunglasses and clothes. (Bhasin, 2019)
In 2006, the company had to reinvent itself as a firm that produces luxury products. The company shifted its focus from its traditional form of conducting business to a digital enterprise (Bhasin, 2019). The adopted the use of data analytics and artificial intelligence together with loyalty and reward programs that led to consumer insights, therefore improving clients' engagements with their brand.