Theoretical Analysis

Introduction

Louis Vuitton is a name given to the renowned French Fashion designer who started his business pertaining leather items in the year 1854. Having being renowned, the brand name of the goods that were designed by him were as well referred to the same name, Louis Vuitton. These goods became among the best brand after around hundred years and also symbolized high society. It is this progressive growth that has made Louis Vuitton brand to widen in range from quality leather design to fashion, accessories, shoes, and other electronic items based on technological growth in the sector. Generally, the product brand has undergone much transformation historically in regard to culture, technological aspects, and in consumer analysis. This paper seeks to evaluate Louis Vuitton’s history and consumer analysis centering on its changes over time, technological shift, cultural changes, and how consumers have been targeted to better the brand’s sale.

Product History

Product changes over time in relation to the advertising history Louis Vuitton is renowned for fast change due to the fact that Louis Vuitton, the founder was a well business articulated minded person who would continuously strive to better the brand. He started thinking about the brand when he was only 16, where he picked his bag, which triggered the fashion and left for Paris (Pasols, 2012). It is after around 12 years, when Louis Vuitton during Napoleon III came to power selecting him as a maker and packer in his industry which had the same line of products as that which Louis Vuitton thought bout. Due to his commitment in his role, Louis Vuitton became among the most trusted, a factor which stimulated his desire to start establishing his agenda of having a better leather design industry of his own (Pasols, 2012). Therefore, in 1854, he started his leather goods store in Paris which would compete with the Queen’s industry.

After a great desire to expand his stores, Louis Vuitton strove to extent the current stores from Paris to London in the year 1885. At this period, the already existing branch had become common in Paris and due to its quality products, the brand had gone across the national boundaries where everyone could desire to have the same brand at their country (Pasols, 2012). In fact, due to fast growth, the invention of the brand’s exclusive lock happened at around 1890, just after the expansion of the stock to London. Of course Louis Vuitton was striving to have a brand that would catch the attention of the consumers and stay competitively as the competitors started seeking to outdo it globally.

Therefore, in the year 1896, Louis Vuitton’s son George took a shorthand belonging to his father’s name with both initial letters and intertwined them with a design that resembled that of a flower establishing a monogram canvas, a design that was well known. His idea was stimulated by the fact that only the renowned design that is seemingly unique would win consumer’s faith (Pasols, 2012). In fact, the same brand is known till today. In the next decade, in the year 1900, George expanded the classic trunk and established other items including hanging clothes, luggage, and hat boxes.

The same trend that led to the expansion of stores around the world continued and by 1914, the largest store of the world pertaining leather goods was initiated in Champs Elyees, Paris. This store marked the fast expansion of the brand’s stores across the world having been taken as the brand’s flagship (Pasols, 2012). In 1932, the bucket bag established a formal debut that would have product sell formally to the consumers around the world. The colorful expression of the product was realized in 2003 when Louis Vuitton collaborated with the Japanese artist Murakami. There were also cultural changes noted in Louis Vuitton’s brand since its establishment.

Cultural changes

Luxury brands have been known for infiltrating the world over the past centuries. Art and culture are among the key players in stimulating cultural growth among the people. Louis Vuitton has incorporated the contemporary artistic work and made artists to be their key brand through rejuvenation and communication (Vuitton, 2017). In fact, currently, Louis Vuitton is concentrating in establishing a fashionable travel philosophy that would aid in cultural transmission from one society to another.

Louis Vuitton have had challenges inherent to art with its general technique driven by the three-pronged including the general arty torch, LVMH’s extensive sponsorship and imaginative exploration and transmission (Vuitton, 2017). The first one is a fine-tuned whose intention was to promote and aid in consolidation of the aging brand during the era of Marc Jacobs. The sensation of having arty products by Louis Vuitton has changed rapidly due to changes in cultures across the world. The initial brand in 1854 was welcomed in Paris since a consideration was made that leather goods would likely capture their attention after a long time of having woolen goods (Vuitton, 2018.). The same trend proceeded whereby at London in 1885, the same arty product was used with an intention of capturing the country’s attention due to change.

Upon a fast desire to transform culture across the world, another general technique driven by the three-pronged, the imaginative exploration and exploration transmission was initiated after two decades. This technique was initiated through the initiative of curatorial in 1910 (Vuitton, 2018.). The Espace Culture Louis Vuitton culture zone was used to stimulate the workability of this technique in Paris where the flagship of the brand was located. Many buildings that were established free of charge entirely for Louis Vuitton depicted allowed temporary exhibition of cultural artistic work that were placed in an open space (Z, 2018). This move was extended to other countries in the world whereby by the year 2006, an open vacant air space over the flagship building in Paris that was entrusted by Yves Carcelle who was the chair of Louis Vuitton to signify that the industry promoted cultural transformations.

Technological shift

Louis Vuitton is currently embracing new technology to suit the trend of the market across the world. In fact, its technological embracement has reached an extent of having 3D goods printed. The willingness to embrace new technology started in late 19th century when some technological transformations were noticed. However, this trend did not increase until when there was a massive growth in technology in 1990s when even marketing was done better using technological means (Z, 2018). Technological history for Louis Vuitton does is not long since technological embracement is a recent element. The latest technological move by Louis Vuitton is signified by 3D goods which is welcomed due to its convenience over its alternative.

Consumer Analysis

Demographics

Louis Vuitton brand is suitable to many people cutting across. The usage of their design is never selective though its arty formation may render it inapplicable to some people. In order to analyze the demographics in regard to this brand, the following groups are considered:

Race refers to people’s color that is defined by their origin. Louis Vuitton is suitable to people across all races as it promotes culture and innovation. This marks the reason why the brand has stores in many countries of the world ("Luxury strategies: Vuitton Analysis," 2017). However, the use of this brand is different to different races. Some races use it for luxurious purposes while others use for consumable purposes.

The second consideration given to Louis Vuitton‘s brand is gender which refers to people’s sex. This brand is not selective to gender. However, due to natural difference between genders, female have been proven to have higher preference of the brand compared to their men counterparts ("Luxury strategies: Vuitton Analysis," 2017). The reason associated to this consumer behavior is that female are prone to arty products more than how men do. Therefore, marketing of the product targets them mostly though there is no much indication of difference in marketing strategy noted from the brand’s marketing mix, product, place, people, and price. On the other hand, Louis Vuitton is not selective to consumers of a given age. However, people’s preference define difference in ages. The brand is known to be preferred to the people aged 30 and above due to their cultural alienation. However, its marketing strategies targets people of all ages ("Luxury strategies: Vuitton Analysis," 2017). On the other hand, education defines consumer’s understanding of cultural differences and innovation. Therefore, the brand is more preferred by the educated than their counterparts.

Income and class is another demographic feature that is considered. Louis Vuitton brand is meant for luxury. Therefore, only the financially rich and people with high class can opt to use the brand.

Psychographics

Louis Vuitton is a brand worth notable life style since it is meant for affluence. Its values and preferences are as well dominant to people who like well-off lifestyle as determined by their income, and class. The quality and status seekers for the product are many, again, due to their economic class. On the other hand, the self-indulgers take the highest proportion among the three seekers since many consumers use the product for self-worth.

Change of consumer profile over time

Since the inception of the company in about 150 years ago the consumer behavior has changed. At this period of this point of time many product have produced by the company to meet the consumer demand (Z, 2018). The fact the products are mainly luxurious determine their prices which are usually high but are proportional to the quality of the products.

The brands of the company have continued to improve in quality and appearance over time hence enhancing the consumer profile. The company has come with a process known as the “Consumer Behavior Process” which outline the stages through the consumer goes through when looking for their brands (Z, 2018). First in the outline is the problem recognition which enables the consumers to identify the product that they are in need of.

Secondly is the information search. This comes after the problem recognition where the consumer ide notifies the products that he or she wants. The information that the consumers are primarily looking for at this stage are those that help them to solve their problem. The information mostly searched about the product include the model, price and also other people’s opinions on the products.

Thirdly, the consumer needs to evaluate and selecting alternatives. There are plenty of the products that the consumer needs to choose from. A lot of consideration here needs to be made in order for the consumers select the brand that they need (Z, 2018). Among the consideration include the price, color and whom the celebrities are being concern about carrying the product.

Lastly is the Post-purchase Processes which arises from the consumer concerns after purchase decision. Some consumers may not feel satisfied by the product that they have purchased which may lead them wanting another brand. The company offers the opportunity for the customers to choose other alternative after the purchase with slight cost.

Conclusion

Louis Vuitton is among the oldest fashion industry with over 150 years. Its brand is easily recognized since is logo and monogram canvas is likeable and renowned to the consumers. Also, this brand is present in almost all the shopping hubs across the world, thus, stimulating its marketing. In fact, from this analysis, there are over 450 stores with Louis Vuitton in over 50 countries across the world. Another feature that adds its value is the custom tailored products designed for few elite customers to enhance their fate. Despite of many strengths possessed by the industry, immense competition in the industry slows the market share of the product. Regarding the consumer analysis for Louis Vuitton, the product is marketed to people of different ages, race, gender, and class despite of some factors which affect the trend in marketability for these demographics.

References

Pasols, P. (2012). Louis Vuitton: the birth of modern luxury. New York: Abrams.

Vaugier Antoine, M1 Luxury Management Follow. (2017, February 22). Luxury strategies: Vuitton Analysis. Retrieved February 15, 2018, from https://www.slideshare.net/VaugierAntoine/luxury-strategies-vuitton-analysis

Z. (2018.). Louis Vuitton Marketing Mix (4Ps) Strategy. Retrieved February 15, 2018, from https://www.mbaskool.com/marketing-mix/products/16755-louis-vuitton.html

Vuitton, L. (2018.). LOUIS VUITTON Official USA Website - Explore the World of Louis Vuitton, read our latest News, discover our Womens and Mens Collections and locate our Stores. Retrieved February 15, 2018, from https://us.louisvuitton.com/eng-us/homepage?campaign=sem_GG-US-ENG-EC-BRAN-BROT&gclid=EAIaIQobChMIoLShrfKo2QIVHrjACh2X6AdBEAAYASAAEgL_RvD_BwE

Vuitton, L. (2017). Louis vuitton - a passion for creation: new art, fashion, and architecture. Rizzoli International Publicat.