Analysis, Pages 4 (848 words)
Consumers are stylish, trendy, familiar with designer’s brand names and try to find quality and after sales services. Most of the users are fully grown (25+), female, working population with steady monetary background. There is an increasing variety of young LV users, who are stylish trend-followers. LV users are typically less price-concerned. LV products are regularly used by the rich and famous, celebs, models all over the world.
LV produces series of leather products for the organisation world, consisting of briefcases, organizers, palm-cases … all could be easily found in business meetings and workplaces.
LV travel luggage might be found in Airport all over the world. Personal accessories like bags, wallets, shoes, and clothes by LV are utilized by the stars in style programs, PR occasions, social events … Distinct from Rivals
In the challenging luxury market, LV deals with quite a variety of competitors. Hermes, Chanel, Gucci, Ferragamo and Prada are primary competitors of LV.
Much like LV, all of these global brands have their outlets around the globe.
We are residing in an age of access to an unbelievable quantity of item, consumers are no longer brand devoted to business, and they need to know how the product will benefit them. To satisfy the prospective clients, LV is promoting its image that offers consumers with included benefits on top of the practical use of its products. An individual purchase a piece of the Louis Vuitton luggage, he is not only buying a piece of travel luggage, however prestige and style.
Consumers buy LV luggage not just due to the fact that they need travel luggage, but they want individuals to believe that they are wealthy and elegant since this is the understanding that Louis Vuitton sells with its baggage. It works because LV markets its travel luggage as a special line, not everyone can have it.
To stand apart from its competitors, LV positions itself as the leader for luxurious baggage. This might be seen in the advertising in publications LV utilizes to interact with their consumers.
And in the LV web page, a “Guide for the cosmopolitan traveler” is included, offering useful information to help prepare for international trips. Travelers can check out time differences, currency conversion tables, clothes sizes and measurement conversion charts, as well as useful addresses in the world’s major cities.
LV’s strength is the worldwide known good service to customer, its good quality for value and new designs. LV’s products safety exceed the requirements globally.
A lot of the LV products are illegally replicated, but due to the unique canvas used for production; none of the fakes could achieve the quality and standard of the originals.
After using LV products, consumers are reassured of the good quality and value-for-money as promised by the advertising and promotions.
Experience & Differentiation
Consumers use and experience LV products, feel the difference between LV and other brands, lead to the differentiation of LV from the competitors.
To the Louis Vuitton consumers, a LV handbag isn’t just a handbag, it’s a Louis Vuitton. Consumers will generally pay more for the LV name brand because it signifies some extra quality besides a handbag.
LV products are appealed to people who would like themselves to be stylish, and want others to think that they are fashionable, they want to differentiate their tastes from others and try to do so by purchasing LV products. Consumers were not looking so much to buy the non-brand products as everyone else. Instead, they looked to brands to help make a clear statement about their own identities.
Consumers buy LV products are not just looking for quality and after sales services, they want people to think that they are wealthy because they can afford a pair of luxurious Louis Vuitton shoes.
More Distinctive from the Competition
Louis Vuitton was very successful with consumers. It benefited from strong local in Japan, Europe and the US. This continued demand is due to the new products created by designer Marc Jacobs and the sustained quality of all Louis Vuitton products.
To be more distinctive from the competition, Louis Vuitton may consider concentrating its business model to production of leather goods only. As most of the competitors are doing many business other than only leather goods. If LV could concentrate on leather goods production alone, it could become not just the leader, but the specialist of producing different leather goods.
More Appealing to Consumers
Branding and Lifestyle advertising is becoming increasingly popular because advertisers are trying to revive the idea of brand loyalty.
To make LV more appealing to the consumers, here is also the idea: to make some products of the brand available only in small quantities, by limiting its production of certain products from time to time, or producing special edition of the same handbag in different markets, LV products could become even more premium. This can satisfy the consumers who want to differentiate themselves from other LV users. LV could even create a trend for collection of limited edition LV products by the consumers.
Cite this essay
Louis Vuitton Brand Analysis. (2016, Jun 23). Retrieved from https://studymoose.com/louis-vuitton-brand-analysis-essay