Essay on Chanel Marketing Plan

1155 Words Dec 10th, 2012 5 Pages
Marketing
Interim Report

By
Bilal Rasheed & Hisham Ahmed

Executive Summary
Chanel’s objective is to provide a sense of luxurious, elegant and fashionable bringing up for women introducing timeless style. If Chanel wants to retain the same kind of brand image then it needs to continue with the same strategies which are currently being applied. However, in order to increase market share, emphasis on mass media and e-commerce would be effective which the competitors are already practicing.

Chanel’s vision is’ o be the ultimate house of luxury’. Chanel is an established brand and specializes in haute couture, luxury goods, accessories and ready to wear cloths. With the vast positive change in the global economy,
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In late 1980’s more than 40 boutiques were opened worldwide. This was later followed by other product chains like Shoes, Chanel watches and various other highly priced accessories

Industry Analysis
Industry Participants/Key Players:
The key players in the industry same as Chanel would be; * Louise Vuitton * L’Oreal’s Lancôme * Calvin Klein * Gucci * Burberry * Alberta Ferretti * Bulgari * Canali

Main Competitors/Competitive Analysis:
Chanel’s biggest competitors in the market would be L’Oreal’s Lancôme who are also focusing mainly on luxury cosmetics along with Chanel creating a very tough competition. Not just this but other renowned brands like Gucci and LV are also equally strong competitors specifically for Handbags and other accessories. Perhaps it’s really hard to dominate in such a market where brand image for competitors is also very strong.

Strategy and Implementation Summary
Marketing Strategy:
Chanel is focusing a lot on developing plans to take an impressive lineage into today’s market. During 1999, Chanel took an initiative to target the age group of people under twenty five which was earlier ignored by the company. It was really important to take some new initiatives like this in order to compete with competitive fashion stores like C
Pricing Strategy:
Chanel is known for its luxurious products around the globe. To Maintain this top

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