[The Impact of Social Media on Britain's Fashion Industry: The case of Burberry's]

by

Acknowledgement

I would take this opportunity to thank my research supervisor, family and friends for their support and guidance without which this research would not have been possible.

DECLARATION

I, [type your full first names and surname here], declare that the contents of this dissertation represent my own unaided work, and that the dissertation has not previously been submitted for academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University.

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Abstract

This paper is based on the topic of “The Impact of Social Media on Britain's Fashion Industry: The case of Burberry's”. The first chapter introduces the topic, while the second chapter deals with the literature review. Chapter three covers the methodology section and the fourth chapter presents the discussion on the results and findings. The fifth chapter concludes the dissertation.

The importance of fashion in our daily lives is a given. For individuals who work in the fashion industry, it is a profession in itself as well as a personal interest. For those outside the industry, fashion still plays a very important role. The use of social media with sites like Facebook, orkut and Twitter is impacting people`s fashion choices. It used to be that you watched department store commercials on television or saw your favourite actor or actress in a movie wearing the latest fashions. These images often made the biggest impact on fashion choices and the impetus to run out to buy the latest trends in shoes, handbags, clothing and jewellery. Now, you are likely to be impacted by the images and comments made via social media. The influence of those who are closest to you is bound to be very powerful. For teenagers, especially, knowing what peers are wearing is a strong motivator behind specific fashion choices for people. When a teenager sees his friends posting pictures of themselves in their new expensive sneakers, the drive to purchase the same can be very strong in them too.



Table of Contents

CHAPTER 1: INTRODUCTION6

Background6

Purpose of Study6

Problem Statement6

Significance of the Study7

CHAPTER 2: LITERATURE REVIEW8

Internet Marketing8

Social Media8

Social media landscapeError! Bookmark not defined.

Social media marketingError! Bookmark not defined.

Social media trading v.s customary marketingError! Bookmark not defined.

Passive Word of MouthError! Bookmark not defined.

CHAPTER 3: METHODOLOGY12

Theoretical framework12

UK Fashion Industry Overview12

Case examine of Burberry's Experience with Social Media14

Data Collection14

CHAPTER 4: DISCUSSION & ANALYSIS16

Asset specificity16

Brand equity16

Financial capability17

International experience17

Country risk17

Cultural distance18

Government restrictions18

Market potential19

Case Study AnalysisError! Bookmark not defined.

CHAPTER 5: CONCLUSION22

CHAPTER 6: RECOMMENDATIONS24

REFERENCES26

Chapter 1: Introduction

Background

In the past couple of decades, worldwide achievement has become an essential dimension for the growth of fashion retailers, any person who have been aggressively broadening to foreign markets (Wrigley and Moore, 2007). When fashion retailers offer to install a presence in a foreign market, they face a serious judgment in picking the bulk appropriate spare-time activity in social media, which is the institutional arrangements that a firm grows for transferring its goods, mechanical supplies, employees, and other resources to a foreign countryside (Hill et ...