This work aims at describing the managerial flaws of Blackberry, which led to huge changes in both the company and the mobile industry. Through a thorough analysis we would like to depict the company’s growth and decline, while outlining the positive and negative reactions to the swift changes of the enormous tech industry. History Blackberry is a company that played a huge role in the advancement of the mobile industry. They were the first to launch a phone on which people could check their e-mails. The company’s initial name was RIM, or Research in Motion Limited.
Blackberry damaged its brand due to lack of proper communication with its consumers. Branding is extremely important to major success in the smartphone industry. With Blackberry’s market majority, young teens and adults dictating trends, it is evident as to why we are losing market share. Ask any young person about Blackberry and most likely they will respond negatively. Blackberry did not change as the market changed.
However it has served people worldwide. Blackberry belongs to the secondary and tertiary sector. The reason for that is because they manufacture the phones and then sell them. It is a public limited company because it sells its shares to the general public. Blackberry’s mission statement: “BlackBerry is a leading designer, manufacturer and marketer of innovative wireless solutions for the worldwide mobile communications market.
With exclusive distribution and prestige pricing, Burberry prosum aimed to compete with Prada in the high-end market, as they also have minimalist design runway and couture style products. Burberry Brit also a line under Burberry provides casual wear. With wide distribution and accessible pricing, Burberry Brit competed with Polo Ralph Lauren in teenage market, as they also target younger customers. Burberry uses premium pricing strategy to sell its products. To keep the image of a luxury brand, Burberry does not compete directly on price in its marketing mix with its competitors but product design, durability and perception.
The following factors may be considered in this regard (Wetfeet, 2008): Political: (Kluyver, 2010) The company operates in different places which include raw, new markets. These countries have high chances of change in regulations and legal formalities, including accounting benchmarks, levy, (expense rates, charge laws) and laws in residential or outside wards. Burberry faces serious rivalry from emerging market nations because of shabby duplicates of his brand where no copyright laws are implemented. -Political conditions like common distress, governments with past records have been unsteady and subject to unsteadiness limiting the capacity to use capital outside boundaries. The company has a strong brand name, which is appreciated many demographics.
Burberry has widened its scope with variety of products. The Bravo team was very successful in elevating the overall status of the Burberry brand. This was a very challenging task. Bravo’s goal when she took over was to transform Burberry into a “luxury lifestyle brand that was aspirational, stylish, and innovative.” Some quick changes made to Burberry to assist in accomplishing this and elevate the overall status were cosmetic. This consist of introducing a contemporary new logo and packaging changing the company’s name from Burberry’s to Burberry.
Introduction Executive Summary: This report on Burberry is based on the examination made on their current condition through primary, secondary, the marketing environment and competitor analysis. All these factors have been taken into consideration while proposing the strategies made in this report. Therefore, to summarize the key factors would include an in depth study of the target consumer that they should cater to and apply the marketing mix in an effective way. “The very name Burberry may reek of tradition and those timeless standards of quality that the British do best, but the company has, since its founding, been a real force for innovation—as the motto Prorsum (Latin for “forward”), on its knight-and-horse logo, bears witness.” (Stage.static.vogue.com, 2014) The company was founded in the year 1856 by Thomas Burberry in
A well informed entrepreneur gets better chances of identifying the upcoming opportunities. Idea Generation is ; The process of creating, developing, and communicating ideas which are abstract, concrete, or visual. The process includes the process of constructing through the idea, innovating the concept, developing the process, and bringing the concept to reality. Source: http://www.businessdictionary.com/definition/idea-generation.html#ixzz3REb6Uvtq
Market Innovation Introduction “Whatever made you successful in the past won’t in the future.” – Tom Peters. In a world of rapidly changing market dynamics, any business that is serious about staying ahead of its competitors must make things happen – through constant innovation. A stagnant business risks being stuck in a rut and being overtaken by its competitors. Although some may regard imitation as the sincerest form of flattery, from a strategic marketing perspective, differentiating your products from competitors is essential in creating value for your clients. This particularly applies in growth industries (e.g.