The Study About Marketing Strategy Of Louis Vuitton Nanjing Store

During the 21st century, consumption patterns have changed dramatically and the modern market has become fiercely competitive and more complex due to the rapid change of the new information and communication technologies. That is why it is particularly important for any company to adopt the right marketing strategy to build, to consolidate and to expand its activity. With the prosperity of the China’s economy and the rising purchasing power of Chinese consumers, a growing number of luxury brands are accelerating the pace of entering the Chinese market. As a leader of the luxury industry, Louis Vuitton has entered the Chinese market since 1992 and will count 50 stores opened in Mainland China within early 2015.Therefore this paper is based on three main elements as the theory of Marketing Strategy, the characteristics of both the luxury goods and the luxury market and also the case study of Louis Vuitton Nanjing store in order to analyze the Chinese luxury goods market. To achieve that goal, we start with an overview of the development of Louis Vuitton Company. By using survey and analyzing methods, we also describe the luxury consumption situation in China and worldwide. Then we evaluate and analyze the marketing environment of Louis Vuitton Nanjing store including four criteria:population, economy, politics and law. Afterwards we describe the target market and we classify four types of Chinese luxury customer profiles using the database of Louis Vuitton Nanjing store. As a final step, we set out the marketing strategy of Louis Vuitton Nanjing store in terms of product, price, channel and integrated communication. Thanks to these different elements above, it enables us to establish the implementation of the present Louis Vuitton Nanjing marketing strategy and to discover what are the actual inadequacies. In the end, this study could provide not only some suggestions for Louis Vuitton Nanjing but also a relevant reference on which marketing strategy to adopt for other luxury brands based in Nanjing.