Ch. 12-Services and Nonprofit Organization Marketing

Louis Vuitton is a prominent brand dealing with items related to 
fashion industry. Established in the year 1850, they have carved a name for themselves amongst the peers in the fashion industry by blending craftsmanship that is handmade with necessary but very least mechanization. This has resulted in maximized productivity along with qualitative products. Louis Vuitton has been relentless in their efforts to focus on the quality of all their products. The main competitors of this world famous brand are:
Hermes
Chanel
Gucci
Vertu
Product in the Marketing mix of Louis Vuitton
Louis Vuitton is a brand that deals in the manufacture and sales of specialized products. The main emphasis of the company is on the premium quality of the goods. In order to supply the best imaginable products, the company has always concentrated on the designs that are intricately created and artisanship that is traditional as well as simply exquisite. Instead of using machines to increase their production the company has taken a step backward by hiring specialized and expert workers. This has resulted in unique and original merchandises that closely resemble the aspirations and imaginations of the consumers. In order to tackle the market of counterfeit goods the company has paid a lot of effort in the design itself, & therefore it is not easy to imitate its products.

All the goods and designs are registered to counter fake goods. The portfolio of luxury goods that the company deals in includes items like leather goods that are made from hundred percent original leather and exclusive ready- to-wear clothes line that are designed with utmost care and are hundred percent original. The company is famous for its handbags and beautiful watches. The buyers also cover the glittering jewelry and designer shoes. Louis Vuitton also offers a range of eyeglasses, briefcases, scarves, belts and wallets.  In recent years, the company has hired new, young and talented designers to attract the young generation of buyers.

Place in the marketing mix of Louis Vuitton
Louis Vuitton is very clear in its distribution policies. Its products are highly exclusive and sold with the same mindset of providing exclusive accessibility. To purchase a Louis Vuitton product the customer has to reach its personalized stores. The sale of these items is through limited channels of exclusive distribution. The company is a set and preconceived mindset that allows them to use its own outlets for product distribution.
They do not sell any of their branded products in departmental stores. They feel that they have the best possible options to sell their products in their own stores, as their salespersons are highly professional with a keen mindset to tackle the customers in an intimate and warm environment.  In the long term, this marketing strategy helps in the reduction of intermediary costs that other brands face while selling through long channels of distribution. This also results in direct dealings with the customers that lead to efficient and friendly relations. All its stores are located in a very high profile and prime locations.
Products in these stores are prominently displayed keeping in mind the latest fashions.  Louis Vuitton has opened its outlets in different parts of the globe and they have at least three hundred retail outlets. This includes stores in Los Angeles, Dubai, Las Vegas, New York, Paris, and Tokyo.  Online purchase of Louis Vuitton products is possible only in the United States.

Price in the Marketing mix of Louis Vuitton

Louis Vuitton has made handsome investments to maintain the rich quality of its products. The contemporary designs of the products have helped the company to maintain a premium pricing policy. Louis Vuitton employs a policy of integrity pricing strategy throughout its distribution network.

Promotions in the Marketing mix of Louis Vuitton
Louis Vuitton has employed a promotional strategy for its products with the help of celebrity endorsements. Famous actors like Jennifer Lopez, Kate Moss, Scarlett Johansson and Uma Thurman have been associated with the brand as its ambassadors. They have featured in the high-profile ad campaigns for this brand. Louis Vuitton has also taken an active part in sponsoring mega sporting events like motorsports and yachting.

These events are attended by mostly the elite society and by associating with these events; the company has made a direct link with the target audience.  Advertising is the main tool to create awareness about the product and keeping with its illusion of exclusivity the company has managed to make ads that are really individual and fashionable.

Ch. 11- Developing and Managing Products

Louis Vuitton is always open to new developments, from internal affairs to new products. Their openness allows them to keep up with the times, growing and changing with the demands of the luxury market. From Vuitton's roots as a high-quality luggage maker in 1854, they have been progressive in developed a line of luxury products that remain true to the brand's values. In 1987 they formed LVMH, the world's leading luxury group. In1998, Marc Jacobs joined Vuitton as Artistic Director, bringing new creativity and an exciting new vision of the Vuitton family.

When introducing a new product, Vuitton usually makes a spin-off of a successful product and sells it for a limited time. Having Marc Jacobs on board in addition to the desirable, luxury label that is Vuitton, introducing new products is never a gamble for the brand. With celebrity endorsed advertisements, to celebrities and elite individuals carrying the products, the products are constantly on display. 

Vuitton uses their windows in their flagship locations as creative ways to promote their new products. Watch the window display in Paris circa 2009, as the classic Speedy bag, transforms itself to limited edition designs...

Below are some examples of limited edition products that have been available to the public in the last 10 years. 

Louis Vuitton Limited Edition Graduate Monogram Bag. Collaboration with New York artist, Richard Prince.

2008, Paris Hilton and Kim Kardashian carry their matching mirror limited edition Louis Vuitton Alma handbag.  

2009. Marc Jacobs for Louis Vuitton paid homage to his late friend, American Artist, Stephen Sprouse, who passed in 2004

Ch. 8 - Segmenting and Targeting Markets

Louis Vuitton segments to multiple target markets. Many people, both men, and women with different values and all walks of life are fans of Louis Vuitton.Vuitton has multiple avenues of communicating their brand to different target markets. Through high fashion print ads, and their Core Values campaign ads, these ads are segmented to both men and women in the Upper Class, to Upper-Middle, and Middle. 
By gaining the interest of both the wealthy and middle class, they have mastered the art of "less is more", maintaining a sense of mystery, yet they really are an attainable brand. In recent years, Vuitton began streaming their fashion shows, which made the shows, once only available to the fashion crowd and celebrities, now accessible to the world. ( consumer decision making).  With products with price points as low as $45.00, one can walk out of a Vuitton store with a "Travel Guide to Berlin", Paris, New York, Amsterdam etc. They can leave with a bracelet priced at $390.00, or a travel trunk for $4500.00. The bottom line is, anyone can get their hands on Vuitton, yet this notion does not hinder Vuitton's image. Vuitton maintains a high-end clientele and a high-class image and remains the most valuable luxury brand. 

Upon entering a Louis Vuitton boutique, one will notice different counters and sections with different "themes". These counters range from, men's travel bags, unisex travel bags, fashion jewelry, high-end jewelry, small leather goods, scarves, belts, shoes, travel books etc. The store is very organized, one can easily locate what section they are in, helping to navigate through what could be very confusing.


We cannot forget to mention that Marc Jacobs is Louis Vuitton's creative director. Jacobs, like most designers, has a high-end line, and a contemporary one, "Marc Jacobs" and "Marc by Marc Jacobs". With his name affiliated with the brand, teenagers and young adults who are fans for Jacobs, begin to "up the ante" upon discovering Vuitton, creating a new fan who will eventually move into a segmented Target Market.

Ch. 15- Marketing Communications

As I was reading the chapter, I thought there wasn't  much I could write about Louis Vuitton and business marketing, considering that the company is a manufacturer and retailer. 

Louis Vuitton has multiple avenues of communicating their brand to the public. Because Vuitton is so well known, they use word of mouth and person to person advertising as a major tool for advertising. They do however run high fashion print ads and their Core Values campaign as an advertisement.

Like I have mentioned in other posts, their advertisements lack the words "Louis Vuitton". Their monogrammed canvas and logo is so identifiable by the public, they do not need to print the name.

In recent years, Vuitton began streaming their fashion shows, which made the shows, once only available to the fashion crowd and celebrities, now accessible to the world. (See consumer decision making for video) Through mass communication, Vuitton has gained the interest of both the wealthy and middle class. Somehow, they have mastered the art of "less is more" communication to the public, still maintaining a sense of mystery, yet they still appear as an attainable brand.

Through the "pull strategy", consumers that own and carry the brand's merchandise act as walking advertisements. Most of these people are among the wealthy middle-upper class, acting as "role models" to others in society. This idea of consumers advertising creates a demand among other people who like and want to buy the product, thus, bringing people into the store and creating revenue.

Overall, Vuitton is a master at mass communication. Their messages are never clouded by "noise", sending clear and concise messages to their target market. This is why Vuitton is the most valuable luxury brand.

Ch. 10 - Product Concepts

 The company started in France and is recognized worldwide for creating specialty products. Louis Vuitton, has been a part of the fashion industry for approximately 157 years dating back to the 19th century.  Each product is carefully crafted using the finest materials. Originally Louis Vuitton created luggage in the mid-1800’s. The company expanded the product offering to handbags in the early 1890’s. 
A couple of weeks ago it was announced that Karl Lagerfeld had created a Louis Vuitton punching bag that retails for $175,000. The Chanel and Fendi designer, and a few other high-level creatives were invited to celebrate the LV monogram logo by reinterpreting the intertwining letters on a selection of fashion and lifestyle goods. How many, if any, of the 25 boxing bags the French luxury brand expect to sell is unknown. But this kind of extraordinary marketing exercises (the true identity of the punching bag and other such costly one-offs) is in line with Louis Vuitton’s position in the contemporary luxury market. The French bag maker, founded in 1854, holds a very special place at the top of the fashion pyramid; Louis Vuitton is seen as a bellwether for the rest of the industry.

In 1997, Marc Jacobs was hired by the Louis Vuitton Company to be the label’s artistic director . 
That year he introduced the company’s first ready-to-wear line of clothing. This was the first time that the Louis Vuitton Company ventured to a new product offering other than luggage and handbags. Today Louis Vuitton product offerings also include cosmetic and vanity cases, sunglasses, shoes, scarves and accessories, belts, timepieces, and fine jewelry. The service offerings of Louis Vuitton are the impeccable quality and make of the luxury products. The company built its foundation on the handwork that goes into each of its custom made products. 

Since the company first began, all products have been concentrated on by the art of craftsmanship . The Louis Vuitton Company does not use machinery to mass produce their handbags. Just a few years ago 20-30 craftsmen were needed to assemble the Louis Vuitton “Reade” tote bag in approximately an eight-day period.

The original pattern of Louis Vuitton's trunks was a striped canvas. However, as the label became more and more popular, it was copied more and more. So, in 1889, Louis and Georges Vuitton decided to change their signature pattern to a brown draught board pattern on a beige background.This new pattern was the very first registered trademark (Marque L. Vuitton despise'). The new pattern was referred to as the Damier canvas. After Louis Vuitton died, his son Georges became the mastermind behind running the company. Georges had true international ambitions, with plans to expand into the United States. By this time, competitors had also copied the Damier canvas. It was time to come up with a new signature pattern that was much more difficult to copy. Georges created the new motif, which was comprised of a beige circle containing a four-petal flower, a curved beige lozenge containing a four-pointed curved star, a star with a point in the center, and the initials LV in memory of his father. Finally, the monogram canvas that is so well known today was born. One main thing to remember, Louis Vuitton, is always about perfection, and would never put out anything less than that. At Louis Vuitton Malletier, 85% of the corrugated packaging used to transport products is totally composed of recycled fibers. The labeling is purely informative. In its labels, Louis Vuitton describes the material used for the products, where these products are made and the bar code. 

Ch. 17 - Personal Selling and Sales Management

Louis Vuitton is a company that lacks sales promotion. Their items

are never on sale, they never offer deals, and they certainly never give away samples. The brand that is Louis Vuitton is so coveted that it is unnecessary to offer deals. In fact, offering any type of discount would hurt the brand. The primary target market views themselves as elite, and use Vuitton to differentiate themselves; these people do not need to shop during times of sale prices.  Lack of promotion is something that draws them to Vuitton.

Vuitton's producers insist that the product is of high quality, therefore any type of outlet to discount prices is unnecessary because their products are highly warranted. Furthermore, sales can promote a mentality that the discounted product is outdated, undesired, and/or overpriced. The perception of the products to the consumer can become tainted. I certainly have had this happen to me when shopping- my thought process is something like this: "Why would I buy from this particular store when there isn't a sale when I know I can get it for cheaper, and they are still making a profit!" If Vuitton offered discounts they would lose their power of prestige.  

Instead, Vuitton focuses on engaging customers in memorable experiences. Their employees work to emphasize the unique products and ensure a distinguished retail experience. The sales associates develop relationships with customers and create a comfortable, organized environment where the customer feels relaxed- not rushed. 

Something that adds the overall experience is the option to custom make a bag.  On Vuitton's website, they offer "Custom Made"... "Whether it is designed to fulfill a practical purpose or is an expression of individual creativity, custom-made leather goods is both functional and exceptional. All our special orders are hand made in our historical workshop in Asnieres near Paris. founded by Louis Vuitton himself." Here you are given the option to chose your design, leather, and lining. 

Vuitton is a sponsor of the elite sporting event of yachting. The "America's Cup" trophy awards the winner of America's Cup match races between two yachts. This reaches the audience and target market of those who attend events such as yacht racing, these people most likely sport (pun intended) Louis Vuitton during their day-to-day lives. 

Ch. 16 - Advertising, Public Relations and Sales Promotion

 Louis Vuitton commonly uses print ads in magazines and billboards in cosmopolitan cities. It previously relied on selected press for its advertising campaigns (frequently involving prestigious stars like Steffi Graf, Andre Agassi, Gisele Bündchen and Catherine Deneuve) shot by Annie Leibovitz. However, Antoine Arnault, director of the communication department, has recently decided to enter the world of television and cinema: The commercial (90 seconds) is exploring the theme "Where will life take you?" and is translated into 13 different languages. We can clearly see diversity in their advertisements. 
This is A quest for freedom and adventure, introducing the new Spirit of Travel Campaign from Louis Vuitton starring Michelle Williams and Alicia Vikander

French leather goods maker Louis Vuitton is Luxury Daily’s 2014 Luxury Marketer of the Year for its seamless transition to new creative director Nicolas Ghesquiere’s vision.

Louis Vuitton won over first runner-up Hermès and second runners-up Dior for keeping a consistent visibility across channels. Throughout this year, all three brands showed a strong ability to keep their presence known through efforts spanning print and online, maintaining key placement in important fashion publications and speaking directly to their audience through social media. Louis Vuitton has also entered the publishing game itself. Starting in October Louis Vuitton began publishing “The Book,” a biannual, in-house glossy magazine. The branded print publication will be translated into 11 languages and mailed only to select Louis Vuitton clients. 
Louis Vuitton populated its Fall 2011 runway with supermodels like Kate Moss, Amber Valletta, Carolyn Murphy, and Naomi Campbell, but you wouldn't guess it based on the collection's campaign. Instead of its usual top model or actress seasonal face, the brand went with very young, in some cases: 16-year-old Zuzanna Bijoch, 15-year-old Daphne Groeneveld, 20-year-old Gertrud Hegelund, 16-year-old Nyasha Matonhodze, 20-year-old Anais Pouliot, and Fei Fei Sun, who was born in 1989.
The Louis Vuitton company seeks to cultivate a celebrity following and has used famous models, musicians, and actors such as Keith Richards, Madonna, Sean Connery, Michelle Williams, Matthias Schoenaerts, Jennifer Connelly, Hayden Christensen, Angelina Jolie, Gisele Bündchen and most recently David Bowie in its marketing campaigns. On 2 August 2007, the company announced that the former USSR leader Mikhail Gorbachev[29] would appear in an ad campaign along with Steffi Graf and Catherine Deneuve. Many rappers, most notably Kanye West, Juicy J and Wiz Khalifa have mentioned the company in certain songs.

Ch. 14 - Marketing Channels and Retailing

Louis Vuitton store Macy's Herald Square
Macy's, 151 West 34th Street, 1st Floor, New York, NY 10001

I recently visited the Louis Vuitton store in Macy's herald square 1st floor. The store itself is very elegant, it’s not one of the biggest stores in New York but is one of the busiest. The largest store in the US is on Fifth Avenue New York and is absolutely breath-taking.

The luxury store offers a truly unique shopping experience with its leather goods, classic men's and women's ready-to-wear, modern timepieces and jewelry, and uptown-chic footwear. Past the towering wooden grids that showcase the famed handbags lie the relaxed suits and ultra-feminine knee-length skirts that typify Vuitton's polished look, punctuated by bright colors and soft accents for a swank mix of tradition and modernity; this familiar style is echoed throughout Vuitton's designs, from the monogrammed canvas belts to the red ostrich-leather wrist watches. The displays are elegantly furnished; every item seems to scream buy me. The customers service is also excellent, the sales associates wear black suits with the tag of their name and they're not pushy, but well informed about the products and very professional. The atmosphere is without any doubt welcoming and is really hard to get out without buying anything. Louis Vuitton uses e-tailing as well, its website is very elegant, informative and easy to navigate, the background music makes the shopping online even more pleasant. The website offers all services that you can find in the store, there are different ways you can contact a professional if you need any help, such as chat option, phone or call back option. The website offers personalized service as well. Louis Vuitton's use of personalized e-commerce shows marketers how luxury brands can preserve their exclusive shopping experience and aspirational brand image online. Louis Vuitton is able to offer its traditional personalized service to its community of Facebook users via its Mon Monogram app. Users discuss purchase to a much greater extent than for other post topics, suggesting the app can act as a call to action while maintaining Louis Vuitton’s luxurious brand image. Alongside its posts about culture and travel, Louis Vuitton's Facebook page features the Mon Monogram app.  which allows members to fully customize their bag with hand-painted personal initials and stripes on the color and direction of their choice. They are then prompted to visit the Louis Vuitton store to purchase their customized bag. Users of the app can also send “virtual” gifts to each other, adding a social dimension to the experience.

Ch. 6 - Consumer Decision Making

In a world filled with different social classes and values, Louis Vuitton does a brilliant job targeting all of these groups. Like mentioned in the mission statement  section, Vuitton's products notoriously represent wealth and luxury. The wealthy want Vuitton in order to differentiate themselves from the lower classes, while the less wealthy want Vuitton to feel like they have achieved what the wealthy has. When purchasing a Louis Vuitton product, consumers are driven by social factors, cultural factors, psychological factors and individual factors. The external stimulus of the consumers comes from a wide range of factors such as the continuous innovation of the products. Louis Vuitton has added ready to wear line, fine jewelry, watches and shoes to its collections. Along with the innovation of the products the company has adopted the new technology. The Mon Monogram application allows the consumers to customize their products. Louis Vuitton advertises its products

through multiple channels, from print advertising to commercials, billboards, magazines and social media. The nonmarketing-controlled information source comes from hundreds of blogs, and review websites where people talk about the brand, lifestyle-related posts help associate Louis Vuitton with elite culture are successful in driving purchase discussion. When considering of purchasing a LV's bag the consumer is affected by conscious motives such as the high quality of the product that performs well, friends, colleagues or acquaintances

that already have a LV's bag, and limited edition make it more fashionable. 
I would say that the majority of Louis Vuitton's consumers are those that feel Vuitton will enhance their ideal self- image. Although there is a small percentage that buys Vuitton products like luggage and clothing  that lack monograms and extensive design because they are of the utmost quality. To them, the products are a smart investment that will serve to assist in their travels and wardrobes.
Overall I feel the decision-making process for Vuitton mostly entails want. Price is secondary to the initial desire for the product. Most consumers will find a way to save and purchase if the yearning for a higher self- image is present.

Ch. 5 - Developing a Global Vision

France’s Louis Vuitton is ranked as the world’s most valuable luxury brand for the eleventh year running, according to the 2016 “BrandZ Top 10 Luxury Brands” report.Louis Vuitton started to expand since 1885. In that year the company opened the first store in London followed by other two stores in the next two years. In 1904 Louis Vuitton participated in World's Trade fair in U.S. trying to get the brand recognized by the Americans. In 1987 The brand established its presence in Japan, getting a share in the Asian market, and also prepared the strategy to expand in China, and other Asian countries. With a well-established presence in Europe and U.S. and Japan, and more than 1500 stores around the world and its e-commerce site, Louis Vuitton is a multinational corporation. Louis Vuitton uses the same quality of its products everywhere in the world. A bag sold in China or in India is the same quality of one sold in France. The company takes into consideration the cultural background and how people would understand better the concept of luxury. In Japan, the company promotes its products through innovation and the involvement in the art and architecture scene associating its products with the art. 
Louis Vuitton's products have the same price all over the world. The company adopted the dumping practice for the Japanese market as a strategy to have the greatest market share. In fact, about 90% of Japanese own a Louis Vuitton product. 

Ch. 4 - The Marketing Environment

Not only is Louis Vuitton one of the most well-known fashion boutiques in the world with one of the richest history, it is also one of, if not the most legendary of fashion houses in the world.

Largest luxury brand with exclusivity
The high prices commanded by Louis Vuitton products is justified not only by its superior quality but also by the high degree of scarcity and exclusivity, evident in their “no discounts or promotions” as well as “immediate disposal of defective products” policies.Louis Vuitton is historically known to serve the powerful and the wealthy. Its target market is both men and women from 22 to 65 years of age. In its marketing strategy, all the key factors play a very important role and are fully executed.

Economic Factors

One of the biggest factors that affects sales of LV goods in India is the tariff. The higher the taxes are for its goods, the smaller the incentive is to buy those goods because demand isn’t going to be as high if prices have to increase in order to make up for the tax. In order for luxury goods too. LV targets the richest people in the country. But on the other hand, most of the population is very poor and wouldn’t be able to purchase such goods, even if they saved up for it. However, there is a select group of rich people who would make setting up luxury stores in India profitable because there are very few stores in India for them to go to. The market is currently set up for an oligopoly because the demand for goods at a luxury store would be inelastic for anyone interested in a luxury item and there are so few stores

Technology factors
Various companies advertise online has tremendously increased due to the growing popularity of the social networking site. LV also gathers various information, opinions and attitude of friends, families reviews from the internet etc through various forums, blogs, chat groups, and websites. There is also growing trend of online shopping facilities and growing E-tailing trend facilities in the UK market. New technologies also have allergic perfumes for those who have allergic problems. Modern technology boosts new sampling innovations. it will increase competition among the market  with anti-ageing skincare formulations have advanced.

Political and legal factors:

Due to LV’s image, it has become one of the most counterfeited fashion brands in the world. Owing to its high price, generally, people cannot afford to buy it. In the recent years, no doubt there are numerous products bearing LV initials in the streets all over the world, but only a small percentage of the products are genuine. Lately, there has been a rise in counterfeiting luxury products because numerous manufacturing has been shifted to countries with poor intellectual property rights and with the opportunity provided to those countries by technology. Although LV has taken various actions to fight against counterfeit but there are still numerous fake LVs out there. Therefore the company has setup a team of people responsible fully on anti-counterfeiting with the help of special investigation agencies and lawyers.

Extravagant parties used for promotion:

As part of Louis Vuitton’s promotional strategy, Louis Vuitton holds extravagant parties. The  parties are thrown in a spectacular manner the extravagance itself and a large number of famous celebrities become topics of conversation which are rapidly picked up on by the mass media. Even though Louis Vuitton must pay if it is to hold these, the advertising results attained far surpass those that would be achieved through the same amount of direct advertising costs.

Ch. 18- Social Media and Marketing

 Louis Vuitton is a luxury brand that is known to millions of people across the world. But in the highly competitive luxury industry, is the brand able to maintain attention towards its products? With a great number of luxury shoppers using social media to find product recommendations and discover new brands, it is essential to understand what drives your audience, as well as the way they use each social media platform.
 Understanding public sentiment towards your brand is pivotal for companies in all industries. Talkwalker? social media monitoring tool can help you to visualize global online sentiment quickly and easily. The map below shows positive and negative sentiment worldwide for Louis Vuitton.

The brand emphasizes the personal selling, values the “fullness of information” exchanged between a customer and a Louis Vuitton salesperson; LV trains salespeople to tell the stories behind the products and inform customers regarding the rich details of latest pieces, how to care for the bags, and updates on key fashion designers. Yearly, Louis Vuitton supplements stores with catalogs that consumers can buy.  Louis Vuitton has many websites they mostly use all of their social media websites. And daily update them.

Ch. 2 - Strategic Planning for Competitive Advantage

You know the bag.

The chocolate-brown leather canvas emblazoned with quatrefoils and the LV monogram is immediately recognizable as the international symbol of globetrotting luxury. 
We all know that Louis Vuitton is known for its elegance and class. It's mission statement states to represent the most refined quality of western "Art de Vivre"(The Art of Living) around the world. Louis Vuitton product is a symbol of  creativity and elegance.
They need to maintain this reputation around the world.

Their main objectives are:-

1. Be creative and innovative
2. Aim for excellence
3. Portray  the image of the brand with passion 
4. Do the best in what they do.

SWOT ANALYSIS 

strengths
1. The brand is one of the oldest fashion houses  with more than 150 years of history
2.The brand is easily recognizable because of its logo and monogram canvas on most of its products
3. The brand has its presence in most of the large shopping hubs of the world
4.The brand is available exclusively in its own stores.
5.The brand also makes custom Tailored products for its few elite customers
6. The brand has a clientele including international celebrities
7. Extremely high brand recall and global presence.

weakness
1.The brand is available only in its exclusive stores making it difficult for people all around the world.
2. Fake imitations affect brand and sales.

Opportunities 
1.The company needs to adopt the current fashion trends to stay in business.
2. The company can offer once in a year discounts for its custom.

Threats
1. The brand is counterfeited all around the world
2. An Economic crisis can hurt the brand sales in a negative way.

Competitors

1. Prada  
2. Gucci 
3. Coach
4.  Chanel

OBJECTIVES
Louis Vuitton has established itself as one of the most high-end brands in the fashion industry. Its product is similar to other high-end fashion brands such as Prada, Gucci, Celine, Fendi, and Hemes. Its success and ability to remain in the market is because of its effective marketing mix.

Product
Louis Vuitton has established its own identity in this fashion industry. Nowadays people call it as LV. Louis Vuitton has established itself as a handbag that has a unique quality that makes customers choose between Louis Vuitton or nothing when shopping for handbags. 
Louis Vuitton does not  only offer to its customers' unique designs and high controlled quality products but also inducts  them  to form attachments by giving to each product a name instead of a serial number. 

Price 
Louis Vuitton chooses to price itself in terms of value rather than price, which is why they choose to mark its products at a very high level. Value refers to the benefit consumers receive for what they give. Its high-price makes consumers feel that they are part of an exclusive society when they carry a Louis Vuitton bag.

Place
Louis Vuitton chooses not to sell their products in department stores and instead establishes individual high-end Louis Vuitton stores. It distributes its products through its own stores located throughout the world, which allows it to control product quality and pricing. 

Promotion
Louis Vuitton advertisements mainly consist of celebrities. This is done in order to target the effective component of consumers’ attitudes by allowing them to feel a certain emotional connection. It gives consumers a social reference group that they are part of a group of celebrities. 

Effective strategic planning 
Louis Vuitton, the world's biggest luxury brand in terms of sales, is planning to dampen its expansion worldwide and focus on high-end products to preserve its exclusive image, said Bernard Arnault, chief executive of parent LVMH. Louis Vuitton, which is known for its LV-embossed handbags, has started offering customers made-to-order bags in exotic skins and created invitation-only spaces in its shops.Instead of opening new boutiques, he said, Louis Vuitton will expand existing ones, as well as offer customers a more personal relationship. 

Chapter 1. History and Mission Statement

Louis Vuitton Malletier famously known as Louis Vuitton or LV is one of the world's leading fashion houses of today's fashion industry. For six years consecutively (2006 to 2012) Louis Vuitton was named world's most valuable luxury brand. This brand is about 150 years old and was founded by a French box-maker Louis Vuitton in Paris, France in 1854. When Louis was only sixteen years old, he was determined to change his life and wanted to become a trunk maker. Vuitton introduced his flat-bottom trunks with Trianon canvas, making them airtight and light weight. Before Louis's trunks were introduced trunks with round bottoms were used.  In 1867 the company participated in a universal exhibition held in Paris. To protect his designs from being copied he changed Trianon design to a beige and brown strips in 1876. The company opened their first store by 1885 in London on oxford street. Due to replication of his look in 1888, Vuitton Created Damier Canvas pattern which bore a logo that said " marque L. Vuitton déposée ". After the death of Louis Vuitton in 1892 his son George Vuitton took the hold of the company and started the campaigns  to build this company in a world corporation.
In 1913 they opened Louis Vuitton building which was the largest travel good store at that time. After that, they opened various stores in New York, Washington, Bombay, London etc. After the death of George Vuitton in 1936 his son Gaston-Louis Vuitton took the company in his hands. In 1987 Louis Vuitton company Merged with Möet-Hennessy, the leading manufacturers of champagne and cognac, to form the world largest luxury goods conglomerate LVMH. Which gave them profit and 130 new stores were opened around the world. LVMH is a brand that consists of 60 different luxury good brands like  Dom Pérignon, Moët & Chandon, Veuve Clicquot, Hennessy, Krug and Glenmorangie Whiskey, while the perfumes and cosmetics division distributes brands such as Christian Dior, Guerlain, Bliss, Fresh, and Benefit. Fashion and leather goods include Louis Vuitton,Givenchy, Donna Karan,Fendi , Kenzo, Marc Jacobs, Ce'line. Watches and jewelry: TAG Heuer, Zenith, Ebel, Chaumet, and Bulgari. LVMH also owns selective retailers including Sephora cosmetics stores, Le Bon Marché   Paris department stores.In 1997 Louis Vuitton named Marc Jacobs their artistic director. The following year he introduced a new clothing line for men and women " prêt-à-porter". 
Louis Vuitton mission statement is to"embody unique savior-faire, a carefully preserved heritage and dynamic engagement with modernity and to represent the most refined qualities of Western “Art de Vivre” (The Art of Living) around the world; to be synonymous with both elegance and creativity; to blend tradition and innovation, and kindle dream and fantasy",to be creative and aim for excellence.