Marketing Principles of Louis Vuitton

All the activities and strategies involved in getting the desired clothing and fashion industry marketing messages to the intended target markets are possible through communications. The global clothing industry has been handling a tough consumer market following the presence of established and competitive fashion rivalry (Smith and Taylor 2004, p. 7). Harvey Nichols has tried to cope with the changing consumer tides through introducing efficient marketing strategies to draw the attention of its consumers.

For years, Louis Vuitton enjoyed high profit margins from the luxury market in Japan until other competitors such as Prada and Gucci entered the market. Counterfeiting also became a threat to the firm’s brand by satisfying consumer demand at lower prices. Other external global environmental problems included highly priced products, limited availability in stores only, and a heavy dependency on the Japanese market (Pearce & Robinson, 2013, p. 14-18). Moreover, “the after-shocks of the global recession were a threat to Louis Vuitton’s luxury business in Japan”, and Japanese women became less interested in the brand’s products (Pearce & Robinson, 2013, p. 14-18). Alternatively, Louis Vuitton could “reinvent itself and regain what used to be its well-attested

In my opinion, the first P i.e. ‘Product’ is the most important component of the marketing mix. It is an instrument using which value is delivered to the customer. It is a ‘bundle of benefits’ that can be offered to and appreciated by a particular set of consumers. Products or services lie at the heart of a marketing strategy; they serve as means of differentiation for the company or a brand representative of a firm. If a customer purchases a product and it does not meet her expectations, then she

The second principle is Building Loyalty. This principle ensures that marketers put their product where it is not overshadowed by the alternatives and the influences of fashion trends are reduced. The third principle is Parameters Not Formulas. This principle ensures that every product is unique and is targeted to a specific audience. The fourth principle, Meeting the Genuine need, focuses on the customer to ensure his or her

The following case analysis will assess Coach Inc. and its strategy in the accessible luxury brand goods market. The coach strategy focuses on its luxury rivals in matching key quality styles while offering it at a cheaper price. The company offers most products at a 50% off discount price less than other brands which gives them a competitive advantage pertaining to its customer base. Coach marketed its products to middle –income consumers desiring taste of luxury, but also affluent and wealthy consumers with means to spend considerably more on a handbag (Gamble, 2012. P.C-73) .The Company also has several other strategies such as to increase global distribution, improve same store sales productivity and continue its multi-channel business model which includes indirect whole sales to third party retailers but also focuses on direct consumer sales. Coach has done well in the luxury goods industry but the companies profit margin is still below the levels achieved prior to the onset of a slowing economy in 2007 ( Gamble, 2012. P.C-73.The Company had experienced a decline in sales as they are unsure if the company recent growth could remain constant and maintain their competitive advantage with other successful luxury lines Michael Kors, Salvatore Ferragamo, Prada and Dolce & Gabbana.

It is hard to imagine that after the financial crisis swept across Europe, many great transitional enterprises had to face collapse and bankrupt while the luxury goods industry become more prosperous. Recently, the French luxury goods group LVMH announced their recent business condition. The volume of the first week in October had incredibly increased by 12% the previous week. The Hermes Corporation also said that in order to meet the increasing number of market demand, it would open 15 branch stores in the latter half of the year. These aroused some fierce debates, the public held a skeptical opinion towards the questions: How can the luxury companies maintain their positions? Why didn’t they strike down by financial crisis?

The four P’s of marketing are product, price, place and promotion. Product is a good or a service that is intended for the consumers based upon their wants or needs. Price is the set price on the product. The price will depend on the targeted consumer, the economy, and the location. Place is merely the location in which the company decides to distribute the product. Promotion is the way the company decides to advertise their product to the public. (Griffin, & Ebert, 2003).

No two-brand identities are the same and it is crucial to consider what type of clothing the company will supply to its customers. There is a large difference in the way luxury and fast fashion brands operate which translates to how they create and maintain a brand identity. Some of the major differences are that luxury brands do not respond to rising demand because they want their product to be difficult to buy. The role advertising has for luxury brands is not to sell but to create status. Luxury brands do not use the Internet even though the importance of online coordination was just discussed. Finally, luxury brands do not look for cost reductions (Nieto). They still create an identity by creating a personality or an idea that represents the brand,

Burberry represents nowadays one of the most successful fashion brands across the world. Founded in 1856, the company’s expansion and growth was the result of an accurate management planning and a recent winner marketing strategy that will be explored below in this article. The focus on this case study is based on the challenge of repositioning in the market the brand Burberry, which by the middle of the 90’s was losing distinctiveness due to the lack of consistency and cohesive vision that it takes to be positioned as a luxury goods retailer. When Rose Marie Bravo entered as chief executive in 1997, Burberry was then facing

5) The four P’s is a way to target possible customers with diverse basic needs. Products are a type of marketing mix of goods and services which are relatively available to the consumer. Also, it contains the basic qualifications such as product branding and benefits. Place is ensuring the correct

When it comes to marketing strategies, most people spontaneously think about the 4P (Product, Price, Place, Promotion) – maybe extended by three more Ps for marketing services (People, Processes, Physical Evidence).

Louis Vuitton was a French box-producer and packer who established the extravagance brand of the same name in excess of 150 years back. From humble beginnings in the French field, Vuitton 's aptitude, development and determination rapidly saw his mark trunks desired by the world 's tip top. Presently, with Marc Jacobs in charge as innovative chief since 1997, the house has extended its putting forth to incorporate packs, apparel, shoes, frill and adornments, making it a standout amongst the most profitable extravagance marks on the planet.

Product: The organization makes item is of recognized quality and pays consideration on moment points of interest. Since its establishment in the eighteenth century, produce 0f Louis Vuitton merchandise has dependably strived for flawlessness. The idea of supreme quality is put on a fundamental level of Louis Vuitton's promoting procedure. With this procedure, it limits the buyers to purchase Louis Vuitton or nothing. Going past the nature of an extravagance item, Louis Vuitton likewise accentuates unequivocally on tradition and innovation at the same

Luxury product sales boost in the emerging marketing like China, which has extraordinary growth and strong potential consumers for the development of luxury goods in the China market. With gradually lower and lower increase of revenue in the European countries, Louis Vuitton (abridged as LV in the following sections) commits itself to set up more stores in China. However, LV is faced with the problems of declining profits in China, which urges it to adjust its entry strategy into the China market. In this case, this report will focus on distinguishing the factors that influence LV’s development in China and

* To cover the 4 p’s of marketing such as product development, branding, pricing, promotion, and distribution.