Luxury Marketing- Louis Vuitton Marketing Strategy

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Timeless by LOUIS VUITTON TAYLOR FERRIS/CHRISTINE PURVIS/RYNE HEENE/AUSTIN TOOGOOD/AIJ BAKITBEK/ANTONINA SZOSTEK NOVEMBER 2012 Table of Contents Market Analysis 4 Turnover 4 Brands in presence 5 Top 20 Selling Perfumes 5 Evolution 6 History of Perfume Industry 6 The International Market 6 Strategies 7 Short Term Strategy 7 Long Term Strategy 8 Product Concept 9 The Concept 9 The Bottle 10 Materials and Colors 11 Colors 11 Materials 12 Measurements 13 Logo 13 Targeting and Positioning 15 Understand the potential of scent 17 Product Mix 19 Name 19 Packaging 20 Formulation 21 Range 21 At The Launch 21 Long Term 22 Price Mix 23 Definition and justification of price politic 23 Manufacturing And Quality 23…show more content…
Furthermore, history has shown that the market is extremely polarized and fragmented. This constant change will allow for easy opportunities of entry. Overall, the global climate of the fragrance and perfume market is in an ideal state for Louis Vuitton to enter it. Strategies Short Term Strategy As indicated in the chart below, Dior, Chanel and Thierry Mugler hold the three greatest market shares in France. As a novice in the perfume market, Louis Vuitton cannot expect to immediately attain market shares as high as these. During their first year on the market, Louis Vuitton should aim at obtaining a market share between 0.5 to 1.0 percentage points. Products like J’Adore and N°5 have been on the market for years. Louis Vuitton cannot expect to reach these levels in only their first year. French Perfume Brands | Market Share (In Terms of Sales) | Dior J’Adore | 4.0% | Chanel N°5 | 3.6% | Thierry Mugler Angel | 3.2% | All Other Brands | 89.2% | Furthermore, market share should not be Louis Vuitton’s sole objective for their first year on the market. As a new product, Louis Vuitton’s perfume must establish strong brand recognition and solidify their brand image in the perfume market. Brand promotion and advertisement will hold higher importance than increasing sales volume. Louis Vuitton's short-term objectives will go as follows: * Successfully test their product by launching a total of 10,000 bottles in the fashion and

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