Louis Vuitton
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Louis Vuitton is indeed one of the worlds most legendary brands and is synonymous with the images of luxury, wealth and fashion. The company has indeed been a trendsetter and thus known for its iconic handbags, shoes, watches, jewelry, accessories and is the highest ranked luxury brand in the world.
To grow and stay fresh the company adopts the following marketing strategy to craft its brand positioning:
>>LV have brought younger designer to attract youth Customer.Apart from using high-profile celebrities and supermodels it now also focuses on non traditional celebrities to feature core values.
>>To promote their products LV also launched its television commercial to target a larger audience.
>>LV continue to introduce new products in their portfolio.
>>Now focus on their market in Japan, china, India.
>>Recognition of LV Brand are Worldwide and continuously growing.
In most general cases marketers consider counterfeiting as a negative thing for the growth of the company and as a door to cynical mindset among the loyal and core customers as they might start to lose value and regard for the particulate brand. But on an optimistic note, its not imperative that it leads to bleak effect as there can be some positive aspects to it which might not have been looked upon. It will definitely help in increasing the share of heart and mind of the consumers ( particularly that segment who desire it but cant afford it.) This will be helpful in creating more and more demand for the product and increase its brand value to a whole new extent. It will also be helpful when the company lowers the price for some of its products or try to target the middle-class segment, because for them the brand already has a great value.