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Essay: Marketing plan for baby diapers (Louis Vuitton)

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  • Published: 16 November 2022*
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EXECUTIVE SUMMARY

The purpose of this marketing plan is to take an existing brand and take it into a new category. Louis Vuitton is the existing brand and baby diapers is the category. Analyzing the external environment and the internal environment to determine whether it would be a good idea for them to launch the new product.

Using PESTEL for baby diapers and SWOT analysis for Louis Vuitton, the brand is known for its luxury, quality and for launching different range of products hence it is determined that baby diapers can be launched by louis Vuitton. The target audience is parents of new born who are keen towards luxury brands, the price is determined by the brand value, product is being launched in three styles and the price varies according to the style, marketing ways for launching this product are through launch events and social media.

INTRODUCTION

Louis Vuitton was a French fashion designer and business man. He was the founder of the Louis Vuitton brand which is known for its creation in leather goods and various products such as shoes, luggage, accessories, ready to wear, fragrances, toilet seat, wireless headphones, bags, belts and the list goes on for both men and women. Louis Vuitton is one of the oldest brands created when it comes to the luxury brand market also known for its finest quality delivered. Louis Vuitton commercial success started since 1859(LouisVuitton). It has a strong global collaboration with UNICEF to support children in need.

The new product which is being launched by Louis Vuitton are baby diapers. As mentioned above Louis Vuitton has always been open about launching wide range of products, Hence baby diapers. Competitors for this product are Huggies, Pampers. This product will be launched with three different styles, qualities and benefits of its own and the price will vary accordingly. As of now Louis Vuitton has launched clothes and shoes for babies by launching this product the brand will be taking a deeper step in the industry of baby products as a known fact when it comes to baby products quality is the number 1 priority and louis Vuitton is known for its good quality by the consumers.

ENVIRONMENTAL ANALYSIS

INTERNAL FACTORS are a lot of brain storming will be involved, getting a lot of innovative ideas, strategy applied in creating the product and team work, employee risk, company culture, image of the brand its proven that Louis Vuitton is one among the top luxury brands, finance is the utmost important factor, capital invested and salary/wages.

EXTERNAL FACTORS here recycling plays a major role as it increases economic security, prevents pollution; weather conditions which affect production in outdoors, demands from the customers; affordability hence 3 kinds of diapers are being launched and the law here all the rules, regulations, licenses to be followed must be up to date and surroundings of the work place.

STRENGTHS are quality of the product, customer satisfaction as this is very important for louis Vuitton to maintain, brand value (top luxury brand), suppliers are reliable for the product making process, the brand has a successful track record of developing new products, highly skilled work force as the brand hires highly eligible candidates only.

WEAKNESSES are limited customer base as only a certain category of people would opt for luxury products not all, the retail market is limited.

OPPURTUNITIES are increase in the number of working women, emerging marketing skills can be captured, investing in digital capabilities.

THREATS would be the economic growth slowing down, competition as they sell for a reasonable price and have been in the baby product industry since a long period of time, replica of the products can be launched as LV is a famous brand and there have been replicas launched before.

POLITICAL there’s no significant political affiliation, crackdown can be done on gift giving and corruption.

ECONOMICAL a rapid change can occur in currency movement, lipstick effect here people would still opt for louis Vuitton but for a product which is for a lesser price this will happen in economic downtown.

SOCIAL influenced by people in the society and geographically it could be as a status symbol or as a good quality product, shifting consumers preferences towards experimental spending, here this would be a change for people who are not into luxury products this experimental spending would make them as once they like the quality they wouldn’t opt for a lower quality.

TECHNOLOGICAL style and technology will be merged, luxury digital engagement for the customers.

ENVIRONMETAL consciousness will increase worldwide, people will become aware about environmental conditions all over as the louis Vuitton is known globally and the marketing would be global as well.

LEGAL regulations of the government in power should be followed so that there wouldn’t be any confusion and the company has taken every process in a legal way (SWOT&PESTEL,2018).

SEGMENTATION, TARGETING AND POSITIONING

SEGMENTATION

The process of grouping customers by needs, wants and interests. The identification of target customer groups in which customers are aggregated into two markets homogeneous and heterogeneous markets. Homogeneous market is where all customers have similar requirements, Heterogenous market is where all customers have different requirements. Segmentation can be done by looking at the following variables.

1. Demographic variables

  • a. Age
  • b. Occupation
  • c. Social class
  • d. Income
  • e. Education
  • f. income

2. Geographic variables

  • a. Population
  • b. Urban, suburban
  • c. Region
  • d. Climate
  • e. Market density

3. Psychographic variables

  • a. Personality attributes
  • b. Motives
  • c. Lifestyles

4. Behavioristic variables.

  • a. Volume usage
  • b. End use
  • c. Benefit expectations
  • d. Brand loyalty
  • e. Price sensitivity

When motives are used to segment a market, it is divided on the basis of consumer’s reasons for making a purchase (Dibb, et. al., 2016).

Keeping the above in mind the product is open for upper class.

TARGETING

Once segments have been identified, decision about how many customer groups to target can be made.

Target market is a group of people for whom a company creates and maintains a marketing mix that specially fits the preferences and needs of a group. While choosing the target the main norms is to see how the company sales, costs and profits get affected by entering them. Marketing managers may define a target market as a vast number of people or as a relatively small group. There are times products and organizations failed as the marketers do not identify the appropriate customer groups at which they aim effort. The identification and analysis of a target market provides a foundation on which a marketing mix can be developed. Target market strategy is the choice for which market segments an organization which decides to develop marketing programs.

There by for louis Vuitton diapers the appropriate target audiences are parents of new born who are keen on luxury products and fashion

(Dibb, et. al., 2016).

POSITIONING

To parents of new born our product is the new Louis Vuitton diapers that provides Skin friendly, Essence, Comfort, Durability, and Fashionable diapers because “nous savons que votre bébé est précieux” {we know your baby is precious in French}.

The process of creating an image for a product in the minds of target customers. Positioning is not what is done to the product it is what image is created in the minds of the targeted consumers or business customers. An example is given of an image and that’s how the product is positioned in the minds of these customers. Another definition suggests that the positioning of a product is the sum of those aspects normally recognized to it by the consumers: its upright, its quality, the type of people who uses it, it’s strengths, it’s weakness, any other unusual or striking physiognomies it may keep, its price and the value it represents. Positioning is based on the perceptions of the customers and is only partly within the marketer’s control. Product’s positioning has been described as the psychological place occupied in a particular market, as professed by the customer segment at which the product is targeted (Dibb, et. al., 2016).

MARKETING MIX

The tactical ‘tool kit’ of the marketing program

  • Product
  • Place
  • Price
  • Promotion

These variables can control in order to appeal to the market and facilitate satisfying exchange. Marketing’s core focus is certainly the understanding and ongoing satisfaction of targeted customers, but marketers must provide much more organization (sally Dibb, Lyndon Simkin, William.M Pride and O.C Ferrell 2016).

The marketing mix is the group of activities undertaken by marketers to create and embolden with customers and consumers. The McCarthy model, consisting the four Ps, is the best-known concept in marketing (Jim Blythe, 2009).

PRODUCT this is the bundle of benefits that the seller offers and the customer receives (Jim Blythe, 2009). Here the product is Louis Vuitton baby diapers, products come with great quality as Louis Vuitton is known for its quality since years, different designs and colors these diapers look like shorts with Louis Vuitton symbols and monograms the customers can chose the design, even though the diapers get full a good essence will overtake it, durability of these products are 24 hours so this means one diaper a day and reusable as they are washable, the main criteria is skin care as this is a baby product it is skin friendly and rash free for all skin kinds. Launching 3 styles of diapers to satisfy the customer needs, the benefits and styles are mentioned below:

  • I. Style 1- These diapers are the basic ones which are reversible with a flap, these diapers are onetime use. If the side one is full the diaper can be reversed and lock the bottom [filled side] with the flap so that it remains neat. Skin care and good essence.
  • II. Style 2- Diapers here come with benefits such as washable, reversible, skincare and good essence. Here the diaper are made out of a very good quality material with all quality checks done.
  • III. Style 3- Diapers in this style comes with the same benefits as style 2 but the add on here is they look like shorts with a diapers inside which are detachable, reversible, different designs, skin care and good essence.

They all come in a pack of 5 except the style 3 has one short and 5 diapers.

PLACE is the location where the exchange takes place (Jim Blythe, 2009). This product will be launched in the United Kingdom and Europe as louis Vuitton the brand was born in Paris, France. Every product is launched first in these two countries.

PRICE this is the total cost to the customer of adopting the product. Price is not narrowed to the cash payment made to the supplier: it also includes costs attached to learning to use the products, to bringing it to home, to the peripheral costs and the costs of disposing of its predecessor (Jim Blythe, 2009). Here there are 3 kinds of diapers and they are priced accordingly keeping in mind the brand value and benefits.

  • Style 1 is for £100.
  • Style 2 is for £180.
  • Style 3 is for £250.

PROMOTION is the market communication package used to make the offer known to potential customers and convince them to study it further. This is a large part of marketing that is often mistaken for the whole of marketing. Promotion itself is broken down into promotional mix, originally compromising four elements (Jim Blythe, 2009).

i. Advertising

ii. Public relation

iii. Sales promotion

iv. Personal selling

Here the promotion of these diapers will happen through louis Vuitton Instagram handle and other social media platforms, launching events.

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