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Our main aim is to retain our esteemed customers while attracting new loyalties from all over the world. Therefore, we focus on quality advertising and providing accurate information about our products to enhance credibility and trust. While we still use billboards, magazines, television, transportations, and other traditional advertising methods, social media is our most preferred advertising means. Social media has not only enabled us to reach a wide variety of customers across the world, but it has also made it possible for our brand to connect with people, outdoing the traditional marketing methods (Godey et al., 2016). Moreover, the virtual internet connection has given Louis Vuitton a new image of cordiality and accessibility that was absent in the years before social media.
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We focus on unique marketing strategies for our quality products by incorporating only the best advertising talents and using various celebrities like Angelina Jolie and Billie Eilish. We work with stars because they attract a large pool of loyal fans who follow them religiously, including their fashion sense. We also incorporate exclusivity in the marketing strategy to lure customers attracted to unique products available for a limited period. In addition to consistency in high-quality products, spectacular and strategic marketing has placed our brand on top. For example, from 2006 to 2012, Louis Vuitton was the most valuable luxury brand globally, and in 2019, it was worth 39.3 billion dollars with 15.5 billion dollars in sales (Oliveira & Fernandes, 2020). During this period, the main customers were the young people whom our social media advertising mainly targeted.
Our ultimate plan for 2021 is to increase our sales and remain on top as the world’s favorite luxury brand. We have also partnered with the National Basketball Association (NBA) to promote our brand in the sports sector and market our products to millions of basketball fans. Our goal is to continue providing high-quality products while broadening our market through strategic advertising. We highly value our customers and reaching out to them through quality advertising is our ultimate goal.
References
Godey, B., Manthiou, A., Pederzoli, D., Rokka, J., Aiello, G., Donvito, R., & Singh, R. (2016). Social media marketing efforts of luxury brands: Influence on brand equity and consumer behavior. Journal of Business Research, 69(12), 5833–5841. Web.
Oliveira, M., & Fernandes, T. (2020). Luxury brands and social media: Drivers and outcomes of consumer engagement on Instagram. Journal of Strategic Marketing, 1–19. Web.
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FAQs
The mission of the LVMH group is to represent the most refined qualities of Western "Art de Vivre" around the world. LVMH must continue to be synonymous with both elegance and creativity. Our products, and the cultural values they embody, blend tradition and innovation, and kindle dream and fantasy.
What is Louis Vuitton pricing objectives? ›
Louis Vuitton employs a skimming pricing strategy, setting high initial prices for its products and maintaining them even as competitors enter the market. This approach allows the brand to maintain its luxurious image and appeal to consumers who value exclusivity.
How does Louis Vuitton advertise? ›
Louis Vuitton leverages social media platforms to amplify its digital marketing strategies. The brand showcases personalized items and engraved pieces on platforms like Instagram, creating a sense of aspiration and desire among its followers.
What makes Louis Vuitton stand out? ›
From day one, quality has always been at the core of every single Louis Vuitton product. And this strategy pays off. Louis Vuitton doesn't do marketing; they just create products that are exceptional in their design and craftsmanship. Every bag made by Louis Vuitton is individually handmade with the utmost care.
Who is Louis Vuitton's target audience? ›
In terms of demographic segmentation, Louis Vuitton targets individuals within a specific age and income bracket. Typically, the brand caters to consumers aged between 30 to 50 years - individuals who are established in their careers and have substantial purchasing power.
What is the aim and objective of Gucci? ›
GUCCI's product strategy focuses on offering a wide range of luxury items that cater to the diverse preferences of its target market while staying true to the brand's core values of exclusivity, quality, and craftsmanship.
What is Louis Vuitton's brand strategy? ›
Louis Vuitton believes that providing such customers with satisfaction and having them use its products over a long time period will result in raising brand loyalty. As such, Louis Vuitton has laid out and put into practice its own repair policy.
What are the 4ps of Louis Vuitton? ›
The article adopted the 4P marketing model to identify the successful marketing strategies for LV through price, product, promotion, and place, as well as to provide additional advice on the existing strategies.
What is the unique selling point of Louis Vuitton? ›
Quality: Louis Vuitton is known for using high-quality materials and craftsmanship in its products. The brand's products are designed to be durable and long-lasting, which is a key selling point for luxury consumers.
How much does Louis Vuitton spend on advertising? ›
They spent under $100 million on advertising in digital and print in the last year. They invest in premium ad units and advertised on over 100 different Media Properties in the last year across multiple Media formats. Louis Vuitton last advertised a new product in March, 2023.
Companies Tagline List
| Company Name | Tagline |
|---|
| Louis Vuitton | The Art of Travel |
| Chanel | Inimitable |
| Gucci | Quality is remembered long after price is forgotten |
| Prada | Defying Convention |
45 more rowsApr 14, 2023
The NBA star taps into his inner model for the official debut of Pharrell Williams' Louis Vuitton campaign. LeBron James has been tapped to be the face of the latest Louis Vuitton Spring/Summer 2024 campaign.
What makes Louis Vuitton so successful? ›
Another reason why Louis Vuitton is so iconic is its heritage and legacy. The company has a rich history that is deeply intertwined with the history of fashion. From the very beginning, Louis Vuitton was known for its innovative designs and its commitment to creating products that were both functional and stylish.
What is Louis Vuitton's strategy? ›
In conclusion, Louis Vuitton marketing strategy is a carefully crafted combination of branding, exclusivity, customer experience, and digital marketing. The brand's ability to create a strong brand image, differentiate itself from competitors, and connect with its target audience has been instrumental in its success.
What is Louis Vuitton brand concept? ›
Louis Vuitton's “LV” monogram has become synonymous with luxury, aspiration, and exclusivity, symbolizing power and affluence. Crafted by Georges Vuitton as a tribute to his father and to safeguard the brand's authenticity, the intertwined LV monogram and floral motifs have become a signature element of the brand.
