FSH316 Ricardo Sison
Louis Vuitton In India
Louis Vuitton was the inventor of the flat-topped trunk with a canvas cover. They have made an impression on the world. On top of that, they carried a wide range of products.
The target customers of Louis Vuitton are all around the world. In worldwide, consumers fell into 3 categories, which are when one bought a luxury product for its practicality and good quality. They were older and wealthier customers and willing to pay a great amount of money to get a enduring value products. They bought product with a pre-purchase research and logical rather than compulsive.
The second category, costumers bought product as a reward for their achievement and also to make a presence. They are highly driven and motivated to be successful. Moreover they are not keen to be appearing lavish and wanted to make a “smart” decision buying a product, not to open to any social criticism.
The last category is consisted with younger crowds and also the smallest category, they make purchases as a mean of self-indulgence and to have a good-feel factor when buying product. On top of that they were emotional when it comes to buy goods.
However in India, consumer has a belief to demonstrate that “I’ve made it. “, they are fall into the second category. They bought products to show their successes and not open to any critique. These people are mainly start-up owners of new myriad new businesses in technology, professional CEOs in their thirties and forties or a small and medium retailers.
India is the second most populated country in the world. Apart from that, India was recorded the world’s second fastest growth in the number of HNW (High-Net-Worth) individuals, 19.3% in 2005. India has people who are still under the change of the income levels and changing habits, which are called the “cocooners”. These people had a potential taste of luxury and become its loyal customers. They are part of the...