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Branding and Marketing at LVMH (Louis Vuitton Moet Hennessy)

Extracts from this document...

Introduction

Acknowledgement A successful project can never be prepared by the single effort or the person to whom project is assigned, but it also demand the help and guardianship of some conversant person who helps in the undersigned actively or passively in the completion of successful project. With great pleasure I express my gratitude to our project guide without their help this would not have been completed. They have given their precious suggestions and constructive guidance has been indispensable in the completion of this project work. Last but not the least I would also like to thank my friends and all the responded. Who directly and indirectly supported to me during my project work, without the help of whom this project would not have been possible. INDEX Sr. No. CONTENT Page No. Chapter 1 BRAND Definition Luxury branding Chapter 2 AIMS AND OBJECTIVES Primary and Secondary Chapter 3 LVMM Introduction to Louis Vuitton History Key people Chapter 4 THE BRAND STRATEGY Branding for the board Massive problems: Common language: Image is nothing, management is everything Comment Chapter 5 THE LOUIS VUITTON PRODUCTS Mission Statement: Target Market: Selling Point: Chapter 6 MARKETING MIX Set of Principles for PRODUCT Set of Principles for PRICE Set of Principles for PLACE Set of Principles for PROMOTION Chapter 7 SWOT ANALYSIS OF LOUIS VUITTON The Brand Exploratory TVC Advertising Chapter 8 LOUIS VUITTON IN INDIA Rent A Louis Vuitton Saris And Louis Vuitton Chapter 9 WHY ONLY LOUIS VUITTON? LVMH AND THE ENVIRONMENT Chapter 10 FUTURE EXPANSION Chapter 11 CONCLUSION Chapter 12 BIBLIOGRAPHY CHAPTER 1. BRAND Introduction: A name used to identify the maker or distributor of a good. A brand was originally a mark burned on the hide of an animal to identify its owner, or on the person of a convicted criminal to warn the public of their character. In some cases a brand name is that of the original maker, which a new owner has retained after the originator ceased to be an independent firm. ...read more.

Middle

This is a tried and true tactic for luxury brands, with LV's global flagship store strategy serving as an excellent example of this. LV is preparing a number of strategic moves and setups against this backdrop. PLACE 5: Principle of Flagship Store Setup. What constitutes the importance of the role o f flagship stores like the one in Omotesando is their element as bases for transmitting the image in order to elevate the brand's added value. The growth of the brand stores to enormous proportions has powerful implications for the image policy more so than it does for the sales. This is because it is t he greatest point in term s of whether or not the transmission of t he brand identity calls out to customers. The significance of and effects from t he L V Omotesando st ore, which continues t o convey information with the mission of thoroughly ensuring the image strategy, are returned to the LV brand unchanged. PLACE 6: Principle of Flawless Repairs. LV's repair service is famously renowned as a ser vice which wins over the trust o f customers an d provides a sense of stability to the brand strength. LV knows full well that the more a person favors LV products and is a repeat customer, the more exacting are their demands when it comes to repairs. LV 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, LV has laid out and put into practice its own repair policy. PLACE 7: Principle of Store Concept Individualization. 1379 Both the Nagoya Sakae store and Matsuya Ginza store have taken up the challenge of distinctive design, and the Omotesando store is a symbol of the strategy o f rebuilding in major capital cities all over the world. The Kobe store utilized the group strength to become the first composite store, and the Kochi store serves as a pilot shop for regional hub cities by abiding by the LV method. ...read more.

Conclusion

I go there two or three times a year, most recently in Dalian, where we've just opened in a new mall. There are so many people who are getting to the stage where they want to consume, who want to be part of a club." Over the next five years, Arnault expects China to account for 20 percent of LVMH's sales. "China is feeling the effects of the crisis, but less than the U.S. And when you consider that Chinese tourists are now buying as much as Japanese tourists, when there were virtually none just 10 years ago, I'm not so worried." "Designers are closer to artists than to engineers," Arnault says. "They're not like normal managers, and you have to balance their creativity and rationality. John, Karl, Marc, they're genius. You can't put them into a rational environment. They're sometimes late, and you have to accept that if you work with them, you have to be understanding with them." CHAPTER 11 CONCLUSION Louis Vuitton has high amounts of brand knowledge due to the strength of favorable and unique associations in its brand awareness and image components. Moreover, LV entered India early and therefore, enjoys the first mover advantage. Thus it can be concluded that it is a very equitable brand. Work needs to be done however to increase the awareness among the masses also, because they are the customers of tomorrow. Also, moreassortment and variety of products should be brought in India instead of restricting more towards bags. LVMH is in 'an excellent position' to once again strengthen its leadership in 2010. "Taking into account the uncertainty of the strength of the economic recovery, LVMH will continue in 2010 to rigorously manage all of its businesses. It will be focused on further, increasing its competitive advantages, the group will continue its strong dynamic innovation and expansion in the most attractive markets. "Strengthened by the flexibility of its organization and the good balance of its business lines and geographic exposure, LVMH enters 2011 with confidence and has set itself the objective of increasing, once again, its leadership of the global luxury goods industry. ...read more.

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