Consumer Behaviour Luxury Bags Essay examples
In this article you will get to know about 3 top competitive luxury brands, Louis Vuitton, Chanel and Gucci.
Louis Vuitton positioned itself in the luxurious goods industry, and has successfully embedded consumer’s mind with a sense of prestige and elegance in their branding.
Gucci claimed a unique positioning in innovation and craftsmanship, trendsetting and sophistication.
Chanel brand positioning has been perceived as elegant, exclusivity, and timeless as known to consumer Chanel stands for vintage and classic.
By finding the 3 luxury brands target audience; we used tools such as Market Segmentation such as demographic, psychographics.
Through demographics we are able to group them in age, gender, …show more content…
Market segmentations has help marketers to successfully identify the different target audience that they will need to concentrate on, by using different means of marketing mix, enabling them to fulfill the needs and wants of the targeted consumers.
Demographics describe the profile of a particular market segment. Psychographics are the attitudinal traits people exhibit in their approach to life.
The target audience for Louis Vuitton would be intended for wealthy middle-age women and young fashionable female adults who could afford the prestige luxury brand. This target audience would include women from ages 35 to 54 years old who earn at least salary of $5,000 per month and women from ages 22 to 34 years old who earn a mean salary of $3,000 per month.
Louis Vuitton could also be targeting female celebrities as they are also high fashionable and wealthy, and may be more inclined to purchase this purse and other Louis Vuitton luxury products when they see other celebrities in their ads.
2.3. Price Point
Louis Vuitton is internationally recognized in the fashion world and among world’s most successful brands. For the continuous increase in brand awareness and improvement in brand equity, Louis Vuitton uses celebrities, utilizing the services of famous actresses and models in its marketing campaigns.
The products of Louis Vuitton are luxury goods and fashion accessories made of leather. The