A company must differentiate itself from others during the product life cycle by creating an image that demands attention and fosters unique brand awareness. Louis Vuitton is a company that continuously rejuvenates itself and has maintained a highly coveted brand for 150 years. A $1,000 monogrammed Louis Vuitton handbag is in such demand that it has spawned a multi-million dollar market of counterfeit products, most commonly referred to as “knock-offs.” The demand is so high for these knock-off products that LVMH Moet Hennessy, owner of the brand, has a special team that works with international police organizations. Last year there were 6,000 raids by police, resulting in the arrest of nearly 1,000 counterfeiters (LV, 2005). The LV logo has become an icon in the designer luggage, handbags and accessories market. The words Louis Vuitton are the code for describing an internationally recognized and exclusive fashion empire.
LVMH Moet Hennessys target market is aimed at women aged between 18-35 who have a love of fine design, and the taste for tradition and luxury. Louis Vuitton has maintained its lead in fashion through clever advertising in magazines like “Vogue” with print ads that focus on LV logo products as chic. In recent years the company has expanded is product line into ready-to-wear, shoes, watches and jewelry. Since 1998, Marc Jacobs has provided the artistic direction to develop and market these new collections. Tapping actress/singer Jennifer Lopez as a model was another key move in skewing younger and getting some zest in print ads. Clearly LVMH Moet Hennessys market strategy is its high-quality and high-priced image which is promoted via elaborate packaging, exclusive distribution, and status symbol advertising. This ability to differentiate themselves from the crowded designer marketing place is why they continue to be highly successful and have significantly extended the product life cycle.
Our text discusses the product life cycle and how companies must position and differentiate their market offerings throughout the cycle. Youngme Moon points out “theres nothing inevitable about the product life cycle. Marketers are disrupting it by redefining the boundaries between product types. In the process, theyre rejuvenating categories and creating whole new markets (Moon, 2005).” A great example of this is Louis Vuitton, a trunk-maker in Paris since 1854, who became a legend in the art of travel by creating luggage, bags and accessories as innovative as they were elegant and practical. A century and a half later, the LV logo lives on. Strengthened by its international renown, Louis Vuittion is personified by the Monogram canvas product line, which has enjoyed great success since 1896 and played a key role in the development of modern luxury. Innovation shapes the story of Louis Vuitton and how they have reinvented themselves time and again.
Why are designer brands like Louis Vuitton so coveted? Designer branding is deeply anchored in psycho-sociology; it takes into account both tangible and intangible attributes, e.g., functional and emotional benefits. Therefore, those attributes compose the beliefs that the brands customers recall when they think about the brand in its context. Image psychology plays an important role in Louis Vuittons Vogue magazine advertisements. For example, a recent two page ad shows a blonde woman very smartly and immaculately dressed and carrying luggage. She appears to be boarding a train at a deserted train station with a mountainous background. The woman covers most of the right page, which also features the brand name Louis Vuitton, whereas the left page shows the rest of the train station platform and reference that the products the women is wearing is sold exclusively in Louis Vuitton stores. In short, the ad is intended to point out that by using and wearing Louis Vuitton leather goods, shoes and accessories, the woman is making a statement, one which connotes a classy and chic lifestyle. In addition, that the woman is successful, mature and sophisticated (Vogue, 2003).
LVMH Moet Hennessy has also used events and sponsorships to build its brand image. The main ones are the Louis Vuitton Classic, which is an annual automobile collectors event, with cars from all over the world. Another is the Louis Vuitton Cup, which decides the challenger for the Americas Cup, the most prestigious trophy in international yachting. Both of these events focus on high quality with an international theme, which clearly
Designer brands like Louis Vuitton are highly coveted due to their deep-rooted understanding of psycho-sociology and their ability to create a brand image that resonates with consumers. These brands consider both tangible and intangible attributes, such as functional and emotional benefits, to compose the beliefs that customers associate with the brand.
In the case of Louis Vuitton, image psychology plays a significant role in their advertising campaigns, as exemplified by a recent Vogue magazine advertisement. The ad features a blonde woman who is impeccably dressed and carrying Louis Vuitton luggage. She is depicted boarding a train at a deserted station with a mountainous background. The woman dominates the right page of the ad, with the brand name Louis Vuitton prominently displayed, while the left page shows the rest of the train station platform and references the exclusivity of the products she is wearing, available only in Louis Vuitton stores.
This advertisement aims to convey that by using and wearing Louis Vuitton leather goods, shoes, and accessories, the woman is making a statement that signifies a classy and chic lifestyle. It suggests that the woman is successful, mature, and sophisticated. The strategic placement of the brand name and the visual elements create a powerful association between the brand and the desired lifestyle, appealing to consumers who aspire to embody these attributes.
In addition to advertising, LVMH Moet Hennessy has also leveraged events and sponsorships to build the brand image of Louis Vuitton. Notable examples include the Louis Vuitton Classic, an annual automobile collectors event that showcases cars from around the world, and the Louis Vuitton Cup, which determines the challenger for the Americas Cup, the most prestigious trophy in international yachting. Both of these events focus on high quality and have an international theme, aligning with the values and aspirations associated with the Louis Vuitton brand.
By associating with these events and sponsorships, Louis Vuitton reinforces its commitment to excellence, craftsmanship, and global appeal. This further enhances the brand’s desirability and solidifies its position as a luxury fashion brand that represents exclusivity and sophistication.
In conclusion, the coveted status of designer brands like Louis Vuitton is a result of their meticulous understanding of psycho-sociology and their ability to create a brand image that resonates with consumers. Through strategic advertising campaigns and partnerships with prestigious events, these brands successfully communicate the desired lifestyle and values associated with their products, making them highly sought after by consumers.
Louis Vuitton’s association with events and sponsorships serves as a strategic move to reinforce the brand’s commitment to excellence, craftsmanship, and global appeal. By aligning themselves with these high-profile occasions, Louis Vuitton not only enhances its desirability but also solidifies its position as a luxury fashion brand that represents exclusivity and sophistication.
One key aspect of Louis Vuitton’s success lies in its meticulous understanding of psycho-sociology. The brand recognizes the psychological and sociological factors that influence consumer behavior and uses this knowledge to create a brand image that resonates with its target audience. Through careful market research and analysis, Louis Vuitton is able to identify the desires, aspirations, and values of its consumers, allowing them to craft a brand identity that aligns with these factors.
Strategic advertising campaigns play a crucial role in Louis Vuitton’s ability to communicate the desired lifestyle and values associated with its products. By carefully curating advertisements that showcase the brand’s craftsmanship, attention to detail, and luxurious aesthetic, Louis Vuitton effectively appeals to the aspirations of its target market. These campaigns often feature iconic celebrities or influencers who embody the brand’s image, further enhancing its desirability and aspirational appeal.
In addition to advertising, Louis Vuitton’s partnerships with prestigious events reinforce its brand image and values. By associating with events such as fashion weeks, art exhibitions, and cultural festivals, Louis Vuitton aligns itself with the world of luxury, creativity, and refinement. This association not only enhances the brand’s prestige but also allows it to reach a wider audience and tap into the cultural zeitgeist.
The success of designer brands like Louis Vuitton can be attributed to their ability to create a strong emotional connection with consumers. By understanding the desires and aspirations of their target market, these brands are able to communicate a lifestyle and set of values that resonate with consumers on a deeper level. Through strategic advertising campaigns and partnerships with prestigious events, Louis Vuitton effectively communicates its brand story, making it highly sought after by consumers who seek exclusivity, sophistication, and a sense of belonging to a luxurious world.