Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2023 International Conference on Management Research and Economic Development
Series Vol. 18 , 13 September 2023
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Access | Article
Analysis of Marketing Strategies of Louis Vuitton Based on The Marketing Theory of 4Ps
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Abstract
Increasing economic development and disposable income are transforming China into a middle-class society. As more and more people are able to meet their basic needs (e.g., leisure and employment), they are more inclined to pursue luxury products to fulfill their material needs. Consequently, luxury brands should use effective marketing strategies to attract as many potential consumers as possible to maximize their chances of tapping into this huge market. Therefore, this essay aims to provide insight into luxury brand marketing strategies in China, using the example of Louis Vuitton. The article adopted the 4P marketing model to identify the successful marketing strategies for LV through price, product, promotion, and place, as well as to provide additional advice on the existing strategies. While the research clearly indicates that these marketing strategies are efficient, LV should also take precautions to avoid diverting its target market from high-end consumers, do more research on their ambassador choices, co-brand with more native Chinese designers, and launch more China-exclusive special edition products.
Keywords
the marketing theory of 4Ps, Louis Vuitton, marketing strategies, digital marketing, China’s luxury market
References
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2. D'Arpizio, Claudia, et al. “From Surging Recovery to Elegant Advance: The Evolving Future of Luxury.” Bain, 23 Jan. 2022, https://www.bain.com/insights/from-surging-recovery-to-elegant-advance-the- evolving-future-of-luxury/. Accessed 3 Dec. 2022.
3. Xu, Anqi, et al. “Analysis of Louis Vuitton’s Marketing Strategies in Chinese Luxury Fashion Market.” Frontiers in Economics and Management, vol. 2, no. 1, 2021, https://doi.org/10.6981/FEM.202101_2(1).0001. Accessed 3 Dec. 2022.
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2023 International Conference on Management Research and Economic Development
- ISBN (Print)
- 978-1-915371-79-9
- ISBN (Online)
- 978-1-915371-80-5
- Published Date
- 13 September 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/18/20230065
- Copyright
- 13 September 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited