Luxury Marketing- Louis Vuitton Marketing Strategy
TAYLOR FERRIS/CHRISTINE PURVIS/RYNE HEENE/AUSTIN TOOGOOD/AIJ BAKITBEK/ANTONINA SZOSTEK
Table of Contents Market Analysis 4 Turnover 4 Brands in presence 5 Top 20 Selling Perfumes 5 Evolution 6 History of Perfume Industry 6 The International Market 6 Strategies 7 Short Term Strategy 7 Long Term Strategy 8 Product Concept 9 The Concept 9 The Bottle 10 Materials and Colors 11 Colors 11 Materials 12 Measurements 13 Logo 13 Targeting and Positioning 15 Understand the potential of scent 17 Product Mix 19 Name 19 Packaging 20 Formulation 21 Range 21 At The Launch 21 Long Term 22 Price Mix 23 Definition and justification of price politic 23 Manufacturing And Quality 23 …show more content…
However, the concept of modern day perfumed gained movement in the 1970’s. As women started to wear perfumes on more frequent occasions, companies started to launch more fragrances into the market. In increasing numbers, designers and brands across the world started to join the perfume revolution. In the 1980’s perfumes took on more pungent and powerful aromas. This trend can be exemplified with the launch of Christian Dior’s Poison, a perfume so intense that is was banned in some restaurants in New York. In the 1990’s perfume trends switched back to softer more relaxed aromas in order to capture the environmental awareness movement.
Between the early 2000’s and the late 2000’s the perfume industry saw an incredible spike in product sales. From 2002 to 2010, the number of perfume brands found in US department stores increase by 153 percent. The market for perfumes has become immensely more saturated since its explosion in the 1970’s. Louis Vuitton must establish a significant presence to prevent from becoming overshadowed.
The International Market
By the year 2015, the global fragrance and perfume industry is expected to reach a worth of over 33 billion US Dollars. The increase is over three times the value of the current market. Experts at PRWeb forecast that the greatest growth will be in Asian countries such as China and Japan. In reflection of the years past, the fragrance and perfume industry showed little response to the