Marketing strategy 4Ps of luxury brands and mass-market brands Essay

Marketing strategy 4Ps of luxury brands and mass-market brands - Essay Example Hence, we saw businesses catering to a specific group of people sharing similar characteristics than catering to the needs and wants for the general heterogeneous and diverse people. This way their strategies and focus would only be on a specific group, which would consequently lead to effective strategies and results. For instance, Burberry moved up-market and focused only on the first class society. Whereas, Abercrombie & Fitch targeted the middle class people and teenagers. Not only this, but we saw many businesses expanding their size of operations by going across the borders. An appropriate example of this would be Abercrombie & Fitch opening their first shop in Hong Kong in 2012, and extending their operations to the Asian market as well. Now, we are going to go to the next slide which will explicitly compare and contrast the marketing mix of the four companies named: Burberry, Coach, Next, and A&F. As you can see, the first row shows the price comparisons of these companies. The price strategy for Burberry and Coach is to provide the luxurious goods at high prices i.e. expensive and grandiose image. On the other hand, A&F and Nexts price strategy ranges from high to medium prices respectively. The second row deals with the product strategy for each business. We are going to discuss each one by one. First is Burberry. Burberrys product strategy is to provide high quality designer garments, and to diverse in its product portfolio which contains shoes, bags, and fragrances apart from the garments. It is most famous for its trench coats. Second is Coach. Coachs product strategy is similar to the Burberrys except for the fact that it focuses on leather goods such as handbags, wallets, briefcases and luggage. High quality and diversification is the product strategy. Next we have "Next". Its product strategy differs from the first two. It does not aim for high quality "pricy" luxurious goods. Instead,