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Burberry faced a difficult problem when its products were adopted by "chavs" or "a young lower-class person who displays brash or loutish behavior." (Oxford English Dictionary, 2016) They were originally a company that made products for high-class, refined customers who wanted to buy luxury apparel. Once "football hooligans" started buying and wearing their signature plaid design, their image was damaged.
Burberry needed to decide on a business strategy - who were they trying to sell to, and were they going to use a cost leadership strategy, a differentiation strategy, or a focus strategy? If you were the CEO of Burberry, what do you think you would have done?
a. Use a cost leadership strategy - Create products that can be manufactured and sold at a price lower than that of competitor's products. Sell more products to a larger group of customers.
b. Use a differentiation strategy - Reduce the number of item types sold, and mark the prices of individual items up. Convince customers that the value of the items makes them worth an increased price.
c. Use a focus strategy - Target a very particular group of customers, for example football fans between 18 and 25, or professional females who live in London. Create products that will have high value for that group, and sell them accordingly.
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