The Marketing Mix of Louis Vuitton tells the 4Ps (Product, Price, Place, and Promotion) of the French luxury fashion house and company – Louis Vuitton!
Louis Vuitton is a well-known luxury fashion brand that offers high-quality products. Its LV monogram represents the exceptional quality that Louis Vuitton products are known for.
Louis Vuitton’s products are made with top-notch materials, exquisite designs, and outstanding craftsmanship. The brand targets a fashion-conscious, exclusive group of individuals who value luxury living and see Louis Vuitton products as a symbol of status.
Louis Vuitton’s marketing mix and strategies focus on affluent women between the ages of 35 and 54 as its primary target customers, with a secondary focus on young women between 18 and 34 who are willing to pay premium prices for branded products.
Let’s start with Louis Vuitton’s Marketing Mix to learn more about their product, price, promotion, and distribution approaches.
Product in the Marketing Mix of Louis Vuitton
Louis Vuitton is a high-end luxury brand that prides itself on using only the finest materials for its products. The company exclusively uses 100% pure leather and ensures that its designs and craftsmanship are unparalleled, making it difficult for imitators to replicate their products.
Louis Vuitton also employs skilled artisans who handcraft each product, making them truly unique. To protect its designs and products from imitation, the company registers them for copyright protection.
The Louis Vuitton product line includes premium bags, distinctive dresses, designer shoes, exquisite watches, as well as other luxury items like wallets, eyewear, jewelry, scarves, briefcases, belts, and more.
Price in the Marketing Mix of Louis Vuitton
Louis Vuitton is a luxury brand that sells expensive products to a select group of consumers who appreciate their items. The brand has a strong market position.
To ensure fair pricing, Louis Vuitton uses different pricing strategies, including an integrity pricing strategy to maintain their exclusive image.
They charge high prices for their products since their customers are affluent and are willing to pay. This pricing strategy has been successful as their products are perceived as having high value.
Louis Vuitton also uses a value-based pricing strategy for some products sold on their website. They maintain premium pricing by not offering discounts or sales. This strategy has helped Louis Vuitton retain its exclusive status among elite customers.
Place in the Marketing Mix of Louis Vuitton
Louis Vuitton maintains an exclusive distribution channel and does not sell its products through any departmental stores. Instead, the company prefers to have its stores. The brand employs highly specialized salespersons who are trained to treat customers with the utmost care, providing personalized attention and a warm experience.
Due to its limited number of stores, customers often visit Louis Vuitton stores directly. This shorter distribution channel helps the company reduce costs.
Additionally, having company-owned stores allows Louis Vuitton to maintain quality control and prevent counterfeit products from entering the distribution network.
Overall, Louis Vuitton’s marketing strategy focuses on maintaining an exclusive and highly specialized distribution channel that ensures quality control and provides customers with a unique and personalized experience.
Promotion in the Marketing Mix of Louis Vuitton
Louis Vuitton recognizes the significance of an effective advertising strategy and has utilized multiple marketing tools to create strong brand awareness and visibility in the market.
Their promotional and marketing strategy involves utilizing fashion magazines and billboards, focusing on print ads shown in these publications, and relying on stars like Andre Agassi and Steffi Graff for print ad promotion.
Additionally, they focus on celebrity endorsements featuring models, actors, musicians, and others such as Angelina Jolie, David Bowie, Keith Richards, Madonna, and Kim Kardashian.
Louis Vuitton’s advertising strategy has been modified to include traditional media such as cinema and television. Their first-ever commercial, “Where Will Life Take You,” directed by French ad director Bruno Aveillan, has been translated into 13 languages.
The company also utilizes social media platforms like YouTube, Instagram, and Facebook to promote content and maintain brand visibility. As part of their marketing strategy, they ensure special collaborations with designers like Takashi Murakami, Kanye West, and Yayoi Kusama.
Lea Seydoux was appointed the house ambassador in 2021, and her Nicolas Ghesquiere customized dress worn to the premiere of James Bond’s No Time to Die in London created a positive brand image.
Unique digital marketing campaigns include “Make A Promise” in collaboration with UNICEF in 2016 to support vulnerable children by selling exclusive bracelets and the Cruise 2017 Show that generated huge traffic and profits by featuring a limited-edition bag collection including The City Steamer and The Twist on their online platform.
I hope you have gathered all the crucial information about the Marketing Mix of Louis Vuitton and the 4 P’s of Louis Vuitton’s. Stay tuned for more Marketing Mix Articles.