Louis Vuitton

  • Nothing speaks panache like a Louis Vuitton bag flaunting a glamorous logo. The brand’s high-end status is nothing but by the virtue of its owner’s marketing strategies which savour both, exclusivity and class. So let’s have a look at the same.
  • In 1854, Louis decided to open his own company. He started advertising his company and it became successful. He was known for great innovations in his work.
  • In 1914, Vuitton opened the biggest luggage store in the world on the Champs-ElysĂ©es.
  • To purchase a Louis Vuitton product a customer has to reach its personalized stores. The sale of these items is through limited channels of exclusive distribution.
  • Their decision to limit its distribution channel is done in order to make consumers feel that Louis Vuitton is such a valuable product as its stores are few in number.
  • They have employed a policy of integrity pricing strategy throughout its distribution network.
  • Louis Vuitton chooses to price itself in terms of value rather than monetarily, which is why they choose to mark its products at a very high level.
  • The company does not advertise on television but follow a policy of high profile advertisement in newspapers and fashion magazines.
  • Advertisements mainly consist of celebrities. This is done in order to target the effective component of consumers’ attitudes by allowing them to feel a certain emotional connection
  • Their marketing strategy helps them in reducing the intermediary costs that other brands face while selling through long channels of distribution.
Source: http://bit.ly/2kxeea3

 

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