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LOUIS VUITTON Lecturer: Mr. Justin Kung Group presentation: Nguyen Phuong Anh (Charlotte) Nguyen Thi My Dung (Megan) 13/11/2009
Contents Louis Vuitton Introduction Marketing Issue Target Market Internal & External Influences  Extended Problem Solving (EPS) Summary Marketing Strategy Recommendation
Introduction 1854 The merger of LV with famed French spirit, champagne, and perfume group Moet Hennessy 1987 Louis Vuitton (LV) First product: Monogram Canvas Paris Louis Vuitton Moet Hennessy (LVMH) A portfolio of 50 luxury brands
Introduction Source: www.lvhm.com, Annual Report 2009 (Accessed: 3rd Nov 2009)
“a truly unique concept that allies shopping, luxury, leisure, art, and culture”  Source: http://www.louisvuitton.com/en/flash/index.jsp?direct1=home_entry_gb0 (Accessed: 1st Nov 2009)
Marketing Issue
Ranking BrandGlobal Ranking -  Luxury Product Ranking Source: http://www.interbrand.com/best_global_brands.aspx?year=2009&langid=1000 (Accessed: 2nd Nov 2009)
Revenue Louis Vuitton $21.6m Gucci $8m Hermes $4m Prada $3.5m Quality How can LV handbags still stand in the top of evoked set in the consumer mind?
Target Market
Target segment Demographics: “Who?” Gender: Woman in Singapore Age: 35 - 45 Social class, occupation an income: Woman in upper class ,[object Object]
Major corporate executivePsychographic: “Why?” Self-concept “Who are they in the relative society?” Personality Lifestyle
Internal & External  Influences
Need Recognition Environment Influences ,[object Object]
Social Class
Family
Situation
Personal InfluencesInformation Search Brand Evaluation Individual Differences ,[object Object]
Motivation & Involvement
Knowledge
Attitudes
LifestylePurchase Outcome Source: Blackwell, Miniard and Engel (2001) p.83
Social class Social class is considered at 3 features: Income Occupation  Education attainment. Social stratification : relative standing, power or control in the group.
Pricing Strategy Profits Profits Profits Average Price Costs Costs Costs Costs Based Differentiator Average Player Reference: Porter’s Generic Strategies
Lifestyle Materialism Dandy Suspicious Forgotten Rocker Romantic Prudent Team-mate Business Defensive Settlement Movement Scout Moralist Protester Gentry Pioneer Rigorous Citizen Idealism Source: Michael, M., Bamossey, G., Askegaard, S. and Hogg, M (2006) Consumer Behaviour. European Perspective 3rd edn. Prentice Hall, p568.
Product Strategy in Maturity Stage Style Improvement Source: http://www.louisvuitton.com/en/flash/index.jsp?direct1=home_entry_gb0 (Accessed: 1st Nov 2009)
Motivation and high involvement Psychological perspective –customer’s need  motivation direction by delivery certain benefits
Motivation and high involvement
Involvement What Really Drives Customers purchasing Louis Vuitton’s products?
Figure 2: Emotion Curve—Louis Vuitton Shopping Experience: Mainland China Customers with Purchases in Last Visit Location & Store Exterior Product Payment & Gift-wrap Shopping Environment Exclusive Felling Source: http://www.customerthink.com/article/what_drives_customers_buy_louis_vuitton   (Accessed: 1st Nov 2009)
Place Strategy
Attitude ,[object Object],[object Object]

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Editor's Notes

  1. Bairnararno