- 期刊
Analysis of Louis Vuitton's Marketing Strategies in Chinese Luxury Fashion Market
摘要
With the rapid development of economy, China has become one of the world's largest luxury goods markets. At the same time, since China entered the new economic normal in 2014, economic growth has gradually slowed down, and luxury consumers have become more rational. Therefore, how to get a share of the Chinese luxury goods market is a concern for many luxury brands in the world. Louis Vuitton is a well-known brand that belongs to LVMH’s fashion and leather goods sector. In the background mentioned above, this paper analyzes and studies the marketing strategy of Louis Vuitton brand in China based on the classic 4P theory of marketing. Louis Vuitton's marketing strategy in the Chinese market, including product strategy, price strategy, promotion strategy, place strategy, has its own unique model and characteristics. At the product level, Louis Vuitton has not only created a unique brand style on the basis of great devotion to product quality, but also formed an ingenious diamond model for different levels of Chinese consumers. At the price level, Louis Vuitton uses a never-discounted price strategy to make consumers further trust this luxury brand. At the place level, Louis Vuitton is cautiously expanding offline stores and actively expanding sales channels online to develop China's luxury e-commerce market. At the promotion level, Louis Vuitton itself not only has a travel-themed brand story as its foundation, but also actively integrates into Chinese local social media and conducts brand marketing through celebrities and KOLs. This paper also puts forward suggestions for the optimization of Louis Vuitton's marketing strategy in China, such as in the Chinese market, increase the promotion of the quality-centric brand concept, flexibly adjust the prices of different products, improve online sales channels, etc. In the transforming Chinese luxury goods market, the research on how companies adjust brand marketing is a topic worthy of discussion. This paper studies the marketing strategy of Louis Vuitton, which not only has certain reference value for itself, but also has certain enlightenment for other local luxury brands in China.