Download - Louis vuitton mini case
HOW IT ALL BEGAN
When he was only sixteen years old, Louis Vuitton made a decision that would not only change his own life but the lives of his sons and future generations: he would become a trunk maker.
In 1854, Louis Vuitton opened his first store in Paris, and sold handmade, high quality trunks and luggage. He introduced his signature Damier and monogram canvas materials, featuring the famous designs still used in all products.
In 1987, Louis Vuitton merged with Moet et Chandon and Hennessy, leading manufacturers of Champagne and created LVMH, a luxury good conglomerate.
Demographic Targeting
Their target market comprise of both men and women of age 16-80 years (young adults to senior citizens)
Their target market are high income level consumers who are wealthy and their income is $5500 or above per month.
Psychographic segmentation
Parameters such as ifestyle and motives are used to identify another part of target market of the brand.
People who need to show their social status, their success by purchasing luxury goods are targeted. Indeed, the brand don't sell only an up range product, but also the psychological benefits like the prestige and the feeling of belonging to an exclusive group.
Product Line of Louis Vuitton
Luggage, Handbags and shoes
Timepieces, Sunglasses and Jewelry
Belts, scarves and accessories
A Louis Vuitton Store
PLACES
Flagship Stores- Direct Channels
Department Stores- Free standing Stores
Exclusive Distribution/ Online stores
Competitive frame of reference and Competitors
Louis Vuitton competes with brands like Gucci, Prada, Fendi, Hermes and these brands are the focus of competitive analysis
These brands target/have targeted the same segment in the past (or plan to do it in future) or consumers in that segment may already look to certain products or brands in their purchase decisions.
Points Of Difference between Louis Vuitton and its competitors
Louis Vuitton monogramCollaboration with prominent artists
Focus on creativityFocus on heritage
Prestigious brand image
High quality material and fine craftsmanship
Exclusive Distribution Channels
Bespoke Services
The Brand Mantra of Louis Vuitton
Innovative, Prestige, Desirable, Stylish and Dream would be for me the essence of Louis Vuitton.
Indeed, since its debut, the brand has succeeded to maintain its
prestige over the years thanks to its Know How, and its ability to
sell dreams to people. Louis Vuitton has also succeed to remain
trendy thanks to its creativity ,innovation, and partnerships (with
celebrities for instance).
Louis Vuitton still spends upto 60 hours making one piece of luggage by hand- the same way it did 150 years ago.
It carefully crafts each of its product with precision and utmost care. This gives the brand an edge over other competitive brands and is thoughly loved by its consumers who are extremely loyal to the brand.
Louis vuitton’s commercials focus on luxury travelling rather than fashion
Louis Vuitton. LV’s brand ambassadors have classically been Bono, Angelina Jolie and Sean Connery. This was essentially “Core Values” campaign about how “a single journey can change your life”. The idea was to create aspiration for the youth and create a pull for both the young and the not-so-young.
COMMERCIALS
Louis Vuitton has been the biggest and most profitable brand in the luxury rankings. LVMH (Moet Hennessy Louis Vuitton SA is their formal financial title) jumped in value to $25.9 billion
WHILE Forbes's list of the world's 100 most valuable brands was dominated by technology companies (Apple, Microsoft, Google et al) this year, there was only one fashion brand that joined the usual suspects in the top 20: step forward: Louis Vuitton at number 14
LEADERS
Summary-
History of BrandTargeting and consumer segmentationProduct LinesStores and channelsCompetitive frame of referencePoints of Difference and Points Of parityBrand Mantra and positioningCommercialsThreat- counterfeiting