Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
Series Vol. 65 , 28 December 2023
Open
Access | Article
Analysis of Marketing Strategy Based on Consumer Psychology - A Case Study of Louis Vuitton
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Abstract
In 2022, Louis Vuitton's sales surpassed the historic €20 billion mark and were well ahead of the sales of other competing luxury brands that year. Moreover, compared to the first half of 2022 results, sales in the first half of 2023 continue to rise. Based on this, by analyzing the marketing strategy of Louis Vuitton, this paper can conclude that cooperation with celebrities, co-branding with other industries and deep localization are the three main marketing methods of the brand. In addition, by combining 4Ps marketing theory, the advantages and disadvantages of the company's marketing strategy are analyzed from different perspectives, so as to better understand LVMH's business model and development direction. This essay aims to discuss how exactly these marketing strategies are used to ensure Louis Vuitton’s success.
Keywords
Louis Vuitton, Consumer Psychology, Marketing Strategy
References
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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 2nd International Conference on Financial Technology and Business Analysis
- ISBN (Print)
- 978-1-83558-239-8
- ISBN (Online)
- 978-1-83558-240-4
- Published Date
- 28 December 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/65/20231620
- Copyright
- 28 December 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