LVMH stands to serve the taste and preferences of premium brand lovers. And it serves its purpose by catering ‘preferentially’ to these market demands
We at LVMH conduct marketing exercises on the basis
of requirement of the target segments and the brand. We are indeed not made for masses and our target audience is the upper segment of the society. But I also believe that this norm is applicable for all luxury brands in the world, which focus only on a certain segments of the market. In India too, this market is growing phenomenally well. This is also tempting luxury brands from all over the world to come into India. However, the true blue luxury labels are yet to enter the Indian retail mart. We’ll also introduce new brands in 2008 and our focus would be on the elite class. They are our preferred customers and I think that apart from low purchase products, everybody has a certain target audience, where they want their product to do well. For example, the elite watches market is growing at an extensive 40% and for a brand like Tag Heur, we target not only the elite class, but generation next who can afford such price levels. So depending on the product & brand, LVMH preferentially adopts a strategy.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
We at LVMH conduct marketing exercises on the basis
of requirement of the target segments and the brand. We are indeed not made for masses and our target audience is the upper segment of the society. But I also believe that this norm is applicable for all luxury brands in the world, which focus only on a certain segments of the market. In India too, this market is growing phenomenally well. This is also tempting luxury brands from all over the world to come into India. However, the true blue luxury labels are yet to enter the Indian retail mart. We’ll also introduce new brands in 2008 and our focus would be on the elite class. They are our preferred customers and I think that apart from low purchase products, everybody has a certain target audience, where they want their product to do well. For example, the elite watches market is growing at an extensive 40% and for a brand like Tag Heur, we target not only the elite class, but generation next who can afford such price levels. So depending on the product & brand, LVMH preferentially adopts a strategy.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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