Marketing Mix of Louis Vuitton Assignment Example | Topics and Well Written Essays - 1000 words

Marketing Mix of Louis Vuitton - Assignment Example The service period which he spent with the emperor introduced him to the styles of elite and the royal clientele who enjoyed his services even after his death. The Louis Vuitton Malletier (LVM) was established in 1854 in Paris, which is now considered the world-renowned lifestyle brand dealing in luxury leather (Louis Vuitton, 2013). The success story of the brand clearly reflects that it was not a coincidence rather Louis Vuitton achieved this peak position in the business world through the use of perfect marketing strategies (Peter Finocchiaro, 2010). LVM has always been very creative in introducing new products, since the start it has been catering to the needs the customers with the supreme quality services. LVM has been successfully using the marketing mix which led the company to acquire the second place in the Luxury Marketer Awards of 2010. The brand has utilized the multichannel strategies which have bridged the gap between history and status of French Fashion (Peter Finocch iaro, 2010) as per the BBC News LVM has increased its sales in the first three months of 2011 by 17%. Researchers have given the credit of successful operations of LVM to its Marketing Mix (Catarina Duque, 2012). After the selection of the target market the prime concern of the management is to set the principles for marketing mix which is a combination of product strategies, pricing strategies, placing strategies and promotion strategies. These all are formulated on the basis of the preferences of target market.