Louis Vuitton Case Study Question One
Luxury retailers must focus on providing a rounded customer experience. Providing intimate one-on-one experiences and offering brand-wide scale for off-the-shelf goods are two perks that lure consumers into their stores. Louis Vuitton’s success also comes from their profound marketing strategy of providing their customers with the most luxurious products and services while broadening their market globally. In 1992 they made the decision to open stores in countries such as India, Japan and China. Before the end of 2007, Chinese were Louis Vuitton’s third largest customer segment in the world. Technology has also affected luxury brands such as Louis Vuitton. Today’s world is solely based on technology gadgets such as smartphones and tablets. Therefore, they had to find a humanistic method to connect and engage with their social media customers by investing in creating mobile apps that provide a luxury experience at a distance. Other luxury brands such as Gucci, Saks Fifth Avenue, and Gilt Groupe have also used this innovative way to retain their customer fan base by adapting to the forever changing retail market. This method of advertisement has been very successful to the fact that 93% of the wealthy smartphone users that had experienced the apps have reported of having a good shopping experience. 71% also felt better using the mobile apps and would prefer that more luxury companies will jump on the bandwagon and offer apps as well. With that being said, Louis Vuitton has no limits as to how much they would invest in pleasing their customers. They have also proven that adapting to technology advances will also assist in retaining the current customers too.
Louis Vuitton Case Study Question Two
The production and sale of counterfeit goods is a global, multi-billion dollar problem and one that has serious economic and health...