The Louis Vuitton marketing mix framework has helped the successful luxury fashion brand in creating a fine balance between its marketing strategies and its brand image in the fashion industry. Efficient and friendly relations are a must with the target audience and this is what the luxury brand focuses on.
The marketing strategy and marketing mix of Louis Vuitton analyzes the company and covers the different elements of the 4Ps like high-quality fashion products, distribution strategy, integrity pricing strategy and advertising strategy.
Louis Vuitton’s success can be attributed without a doubt to its desire to meet customer demands and maintain its position successfully in the target market.
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About Louis Vuitton
- Origin Country: France
- Founder: Louis Vuitton
- Founded: 1854
- Headquarters: Paris, France
- Louis Vuitton Employs: 150,000 employees
- Annual Revenue in 2023: 75.973 billion USD
- Annual Net Income in 2023: 14.24 billion USD
- Brand Value in 2023: 23.4 billion USD
- Market Cap in 2023: 431.33 billion USD
A successful luxury fashion brand needs no introduction. Louis Vuitton is a fashion house of luxury goods. The LV monogram appears on Louis Vuitton products and depicts premium quality that is unparallel in the fashion industry.
The world-famous brand deals in high-quality fashion products like leather goods, shoes, luxury bags, ready-to-wear, perfumes, jewellery, watches, books, sunglasses and accessories etc. From 2006 – 2012, the luxury fashion house Louis Vuitton was named the “Most Valuable Luxury Brand in the World”.
Target Market: Louis Vuitton’s Marketing Mix
The world-famous brand Louis Vuitton stands for specialized products with premium quality materials, high-end designs and superb craftsmanship. The target audience is the fashion-conscious exclusive group of individuals who lead a luxury lifestyle and considers Louis Vuitton products as a style statement that will elevate their position in their social circle.
The Louis Vuitton marketing mix and marketing strategies focus on the upper class and rich women between the age group of 35 – 54 years as its primary target customers. The target market of Louis Vuitton includes the exclusive group of young females between 18 – 34 years who do not mind spending exorbitant prices for branded products.
Marketing Strategy and Marketing Mix of Louis Vuitton
The Louis Vuitton marketing mix and marketing strategy have proved an important tool to promote glamorous luxury products to the target customers in the fashion industry. Louis Vuitton applies marketing strategies to boost the brand image, improve brand visibility and develop efficient and friendly relations between the brand and the customers.
When you mention Louis Vuitton it automatically brings the picture of a luxury brand in the mind. There is a direct link between the marketing strategy of one of the most valuable luxury brands and the components of the Louis Vuitton marketing mix.
The focus of the luxury brand is on how to encourage customers to buy Louis Vuitton items irrespective of exorbitant prices, ensure the distribution network is spot on, keep the cost price down to increase profits and increase celebrity endorsements in the advertising strategy to remain in limelight.
Product Strategy: Marketing Mix of Louis Vuitton
Louis Vuitton stands for the luxury lifestyle, premium quality products and high brand visibility. The most valuable luxury brand is a French multinational Corporation. Specialized and experienced workers have worked day and night to create ultimate handmade quality luxury goods that are revered by customers all over the world.
When you mention Louis Vuitton, it means exclusive products for a selective audience. The company does not cater for the common masses like some of the other brands instead ensures all its merchandise is original and exceptional.
The marketing strategy and marketing mix of Louis Vuitton is focused on contemporary style, unique designs, innovative craftsmanship and ultimate handmade quality material that other brands are unable to match up with.
The luxury fashion brand Louis Vuitton’s success is no doubt because of its superior product offerings. It designs, manufactures and sells luxury goods that are in high demand in the market.
Louis Vuitton Products (Product Mix): Louis Vuitton Marketing Strategy
Louis Vuitton’s policy is to offer the best possible products. It uses Monogram Canvas material and brown Damier on every Louis Vuitton item since the 19th century. Louis Vuitton applies the LV initials on all the products to make them instantly recognizable.
The most popular Louis Vuitton item is the LV Trunk which is one of its kind in the market and considered truly iconic. Other popular products are the Neverfull bags, Speedy bags and the limited edition bags that are available only through larger Louis Vuitton stores.
Louis Vuitton is a French multinational corporation. Specialized products of the luxury brand Louis Vuitton includes the following product categories-
The Louis Vuitton item in the leather category includes belts, designer shoes, leather jackets, phone cases and bags etc.
- CAPUCINES COMPACT WALLET
- ZIPPY COIN PURSE PADLOCK
Designer shoes are available for men and women and include sneakers, loafers, ballerinas, pumps, platform shoes, boots, sandals, slides and buckles shoes etc.
- LV BEAUBOURG ANKLE BOOT
- VENDOME FLEX DERBY
For women, the ready-to-wear includes coats, tops, jackets, dresses, swimwear, shorts, skirts, pants and knitwear and for men, the Louis Vuitton product offerings include coats, outerwear, jackets, blazers, shirts, pants, sweatshirts, polos, knitwear and blazers.
- OVERSIZED BRAIDED BUTTON DRESS
- STRIPE ACCENT MONOGRAM PAJAMA PANTS
Fragrances include feminine, masculine, cologne, travel and oriental perfumes
- CITY OF STARS
- TAMBOUR TWENTY
- TAMBOUR SLIM VIVIENNE JUMPING HOURS
Accessories include sunglasses, scarves, gloves, hats, ties, scarves, shawls, tech accessories, stoles, bag charms, key holders, hair accessories, pocket squares and belts etc.
- CYCLONE GRAY MARBLE SUNGLASSES
- MONOGRAM CLASSIC SHAWL
Jewellery includes earrings, rings, wedding bands, pendants and bracelets. The brand also offers High Jewellery and High Jewellery Collections.
- EMPREINTE HOOP, PINK GOLD
- LOUIS VUITTON SPIRIT – HIGH JEWELLERY COLLECTION
Handbags include mini bags, clutches, chain bags, totes, cross-body and shoulder bags, leather bags and monogram bags.
- MINI DAUPHINE
- TWIST LOCK XL
Place Strategy: Marketing Mix of Louis Vuitton
The place and distribution strategy in the marketing mix of Louis Vuitton ensures global expansion of the brand and the spread of its product presence to most parts of the world like China, India, Singapore and London.
LVMH has 75 top brands and 60 subsidiaries like Louis Vuitton, Christian Dior, Marc Jacobs, Kenzo, TAG Heuer and Fendi etc. at its disposal that sell and promote glamorous luxury products in prime locations to the target audience. The subsidiaries of LVMH work independently under six branches Wines and Spirits, Fashion Group, Selective Distribution, Watches and Jewelry, Perfumes and Cosmetics and Other Activities.
Louis Vuitton employs an efficient workforce that uses Monogram canvas material to create luxury goods of the finest quality. The luxury brand Louis Vuitton employs nearly 150,000+ employees to deal with the target customers efficiently and maintain a fine balance between the products and pricing strategies.
The place and distribution strategy in the marketing mix of Louis Vuitton puts the focus on product placement, the distribution channel and Louis Vuitton stores. There is a direct link between distribution strategy, distribution network and the distribution channel because if all three are not up to the mark then it will not be possible to send any Louis Vuitton product to the end customer efficiently.
Place and Distribution Strategy: Louis Vuitton Marketing Strategy
The marketing strategy and marketing mix of Louis Vuitton has ensured a vast distribution network and effective distribution channel so that the products can be transferred from the manufacturing plants to the end customers easily. The distribution channel of the company includes Louis Vuitton Stores at prime locations, lease department stores situated in high-end departmental stores, standalone boutiques and the e-commerce segment of the company website.
The distribution channel in the marketing strategy of Louis Vuitton –
Louis Vuitton’s policy is to market the Louis Vuitton product through its own stores as this move will help to control the product’s quality and cost price. Louis Vuitton stores can prevent counterfeit products from entering the distribution network through this move.
The own stores are company owned and operated and the employees try to create a direct link between the brand and the customers.
Louis Vuitton is one of the valuable luxury brands that want to bring customers to its high-end stores. The marketing strategy of Louis Vuitton includes selling the products through department stores. The brand also prefers to lease prime properties in high-end departmental stores.
LouisVuitton.com is the company-owned official website through which customers can view products, get detailed information and place orders for original products.
Price: Louis Vuitton Marketing Mix
Louis Vuitton is one of the most valuable luxury brands in the world that sells branded products at exorbitant prices to an exclusive group of people who love to buy Louis Vuitton items. It is a renowned brand with a strong product positioning in the market.
The marketing strategy and marketing mix of Louis Vuitton ensures that the pricing policies of the company are in sync with the value of the product. The brand does not compromise on quality hence the actual cost price is high.
Pricing Strategies: Marketing Mix of Louis Vuitton
The marketing strategy of Louis Vuitton has ensured that the brand uses an integrity pricing strategy so that its products can maintain the exclusive tag without compromising on the prices. The company has adopted both a premium pricing policy and a value-based pricing strategy to sell its products in the market.
Premium Pricing Policy
Louis Vuitton is a premium brand that sells quality products in the market. The marketing strategy ensures a premium pricing policy for its products because its customers are the upper-middle and elite class who do not have to worry about product prices. As the perceived value of the brand products is very high this pricing policy has been a success for the company.
Value-Based Pricing Strategy
Louis Vuitton’s marketing strategy has adopted a value-based pricing strategy for some of the offerings that are sold through the company website. The brand does not offer discounts or have any sale periods. This ensures that the product prices are absolutely up to the mark. The value-based pricing strategy has helped the brand to maintain its exclusivity amongst elite customers.
Promotion: Louis Vuitton Marketing Strategies
The promotional and marketing strategy includes the following
Fashion Magazines and Billboards
Fashion magazines are quite popular amongst elite and upper-class individuals. The advertising strategy of Louis Vuitton is highly focused on the print ads that are shown in these fashion magazines and billboards. The brand has relied on stars like Andre Agassi and Steffi Graff etc. for print ad promotion.
Louis Vuitton Celebrity Endorsements
The advertising strategy of the brand is focused on celebrity advertisements to gain maximum spotlight in the world. Some of the featured models, actors and musicians etc. are Angelina Jolie, David Bowie, Keith Richards, Madonna and Kim Kardashian etc.
Louis Vuitton’s advertising strategy has been modified to some extent in recent years as the company has decided to enter the world of cinema and television with a commercial “Where Will Life Take You”. This ad campaign directed by Bruno Aveillan, the French ad director has been translated into 13 languages and is the first-ever commercial from the company.
Social Media Platforms
Louis Vuitton’s marketing strategy ensures special collaborations as part of its advertising strategy. With Takashi Murakami, the brand launched the “Monogramouflage Collection”, with Kanye West a limited run of shoes and with Yayoi Kusama the “Infinitely Kusama”.
Lea Seydoux was appointed the house ambassador of the company in 2021. She wore a Nicolas Ghesquiere customized dress to the premiere of James Bond’s No Time to Die in London and created quite a stir that resulted in a positive brand image.
Louis Vuitton Campaigns – Notable Digital Marketing Louis Vuitton Campaigns
Make A Promise
In 2016, Louis Vuitton in collaboration with UNICEF started the campaign “Make A Promise” to support vulnerable children. Exclusive bracelets were created and sold so that the revenue could help these children all over the world
Cruise 2017 Show
Louis Vuitton featured a limited-edition bag collection that included The City Steamer and The Twist for its online platform. This show helped the company to generate huge traffic and ultimately profits.
key Takeaways from the Louis Vuitton Marketing Mix (4Ps)
Louis Vuitton is no longer a brand name but much more as the initials LV are considered a status symbol. The key takeaways from the Louis Vuitton marketing mix and marketing strategy are-
- Ensure the brand gets maximum visibility
- Maintain the link with the customers
- Focus on quality products
- Make sure the advertising strategy reflects the brand name in a positive light
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