Global Luxury Goods
July six, 2003
MASTER OF BUSINESS ADMINISTATION 1
Word depend: 2, 389
Table of contents
DESK OF CONTENTS2
GUCCI'S ADVERTISING FORMULA3
STANDARDIZATION WITH THE MARKETING OF LUXURY GOODS6
GENERALIZATIONS ASSOCIATED WITH THE GLOBAL LUXURIOUS GOODS INDUSTRY7
Gucci is actually a global retailer of extravagance, high quality trend items: totes, small leather goods and luggage, shoes, ties and scarves, RTW, watches and other personal items such as key chains, cash clips, pens, etc .
Gucci makes its products available to the population through some main distribution channels:
·Directly operated stores;
Gucci's Advertising Formula
Gucci has adopted an international web marketing strategy of communicating a consistent image to its customers all over the world. To uphold the uniformity, Gucci offers centralized marketing operations to Florence, which provides all creative material, and controls almost all aspects of promoting.
The main web marketing strategy of Gucci is " designed to preserve a high account and regular visibility". This requires constant marketing of its products and graphic, which keeps the company constantly discernible to clients and the designing world. To achieve this, Gucci has started raising communications costs in the last three years, and is considering continuing the increase of their marketing spending budget.
Gucci's products and marketing methods are not tailored in accordance to countrywide needs or perhaps customs. This aims at achieving the growing global market part of the rich and " newly rich", among which groups a homogenization of taste to get luxury goods has been discovered. This group is a true example of the emergent tendency of the global marketplace, in which needs and perceived rewards are common in the USA to Europe to Japan. This global market segment's value elasticity is usually low, meaning that they are certainly not affected by within prices. They see selling price as a great irrelevant component, and shop for luxurious, good quality brand names. I once examine a report that quoted the CEO of your luxury goods company, as he stated it is simpler to increase prices of luxury goods than to lower them, as this is what consumers expect.
Since Gucci has several rival companies on a global scale, this coordinates it is marketing actions with mindful timing and placement to attain maximal penetration of their core message: the magnificent and fashionable image of all Gucci products.
Advertising and marketing
Gucci promotes in nationwide and worldwide fashion, life-style and organization magazines. Advertisements are timed to appear at the beginning of buying conditions, where consumers will be trying to find fashion what to purchase for the coming period. This is effective use of advertising and marketing, since the advertisements appear at times of the season when customers are accessible to receive these kinds of messages.
Gucci publishes product catalogues besides making them available to existing and potential customers. These kinds of catalogues can be emailed out by means of mail to the companies clients, and be obtainable by potential clients at at the. g. exclusive hair bouchon, etc . Direct mail should also be sent to the wealthier persons in each one of the countries in which Gucci discover business activities, thereby making it convenient for the potential customers to familiarize themselves with Gucci companies even order through the buy sheets supplied in the magazines.
Gucci has set up PR offices inside the fashion capitals of the world. All their job this to make regional and worldwide fashion press deal with Gucci as much as possible. This is also backed by keeping 4 in season fashion shows yearly, where newest Gucci models happen to be unveiled. These types of shows are usually good for you to appear in fashion press and other...
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