Research on the Problems Existing and Marketing Strategy Optimization of Maison Goyard

Abstract

Every luxury businesss future growth relies heavily on marketing strategies and product optimization for high-end goods. Understanding the causes and mechanisms behind how the symbolic worth of luxury brands is formed is crucial for customers who want to maintain composure and create a rational consumption mindset, as well as for society as a whole. This paper uses case study and comparative analysis methods to analyze the Current Situation in the Luxury Industry. This paper finds the characteristics of Goyard Target Customers are rich/wealthy and crave exclusiveness/ secretiveness. In addition, this paper proposes the current problem identified by Maison Goyard. Based on the analysis, this paper proposes that the marketing strategy optimization of Maison Goyard includes: Implementing more advertising and more exposure to the market; Celebrity endorsements (such as Instagram/ Facebook) to attract new customers; Collaborations with other luxury brands/ New Limited Editions to increase popularity in the mass market; Start on E-commerce to face the new generations/ millennials. This article explores Maison Goyards current difficulties and optimization objectives, which have contributed to the brands promotion and will continue to do so in the future.