Is it possible Bill Lee has it right in his HBR article? Is marketing dead? At least marketing as we have traditionally known it? Well, maybe not dead yet, but it’s certainly being transformed. No more so than at London based Burberry, the luxury goods provider that’s gone from stodgy to spectacular under the leadership of CEO Angela Ahrendts. Burberry is an example of how a company can redesign its business model and make growth happen again by reaching shoppers on their terms.
Burberry has five core strategies but implicitly woven throughout are three driving principles.
If someone can take a 150 year old trench coat brand and make it appealing to Millennials around the world (actually, you can now customize your Burberry trench coat, but only online), it’s likely something more can be done with CPG brands looking to grow their business. Time to reinvent your approach to shopper marketing?
(Larry McManis is President & CEO of ThinkWay Strategies, a business design agency that focuses on helping companies reinvent themselves internally to meet the growing challenges they face externally. He frequently writes for other businesses and organizations including the Shopper Insights in Action Conference sponsored by IIR USA.)