Almost everybody in the world knows the brand Louis Vuitton and can recognize the famous logo and patterns they use on bags. Louis Vuitton is the most valuable luxury fashion design brands in the world, followed by Hermes and Rolex. Over the years famous people and rich people who have excessive amounts of money on their bank accounts, have bought their products.
“If the average person on the street would have to describe a stereotype of the Louis Vuitton owner the description would probably be in this direction; the owner would wear designer clothes, big sunglasses and the Louis Vuitton bag over their shoulder with a Chihuahua in it.”
Louis Vuitton is a global brand that has a lot of strengths, which makes it crucial for the competitors to cope up with the competition in the market share. Is known with its elegant and luxurious Brand name in the fashion industry which helped Louis Vuitton maintain a unique position in the market. The strong brand name is one of the main points of strengths that any successful company should maintain, and most of the promotions, advertising, market strategies and public relations efforts are for the sake of gaining a strong unique and recognizable brand name in the minds of consumers.
Louis Vuitton has a distinctive and effective marketing strategy that it uses in order to appeal to its target customers, so most of their profit is predictable rather than being just a coincidence as a result of their unique and strong marketing strategy. Louis Vuitton uses the principle of the special order which gives the consumer the opportunity to order a product tailored exactly for him and his own preferences, the special order principal is used in most of the brands with higher customer loyalty and high brand names for a distinctive amount of target customer.
Louis Vuitton maintains also effective pricing strategies, as they make sales and special offers at the end of the season in order to attract and encourage customers to hurry up and not miss the special offers and discounts, which improves the short-run sales and increases the total sales revenue for the organization. Louis Vuitton is also famous with using the product bundling strategy, which aims to sell more than one product in combination form.
One of the most famous strategies of Louis Vuitton that makes it distinctive from most other fashion design brands is that uses the flawless repairs strategy which gives consumers the right to get their products repaired when damaged which can rarely be found in any other brand.
Finally, it is very nice to see that Louis Vuitton also thinks about this environmental aspect. You cannot say that they do everything perfectly, but I like to see that they are aware of the environment and that they took some dispositions over the past years. It would be revolutionary to see Louis Vuitton creating a 100% eco-friendly recyclable bag, but I don’t think it would be realistic nor their biggest success.
Making sense of art and design industries 