Abstract
China, as an emerging market in the global luxury industry, has drawn a lot of attention from luxury brands. However, many traditional luxury brands have not achieved the desired benefits in this broad market of China. This study adopts a qualitative research approach of case study, analyzes the strengths and weaknesses of Louis Vuitton's marketing mix strategy and brand marketing strategy in recent years. The study shows that Louis Vuitton's marketing efforts in China have been effective in recent years. However, its marketing strategies could be improved in terms of choosing celebrity endorsements, expanding marketing channels, increasing exposure, and balancing tradition with innovation. This article hopes to provide some marketing ideas for luxury brands that want to develop better in the Chinese market.
Highlights
With the continued steady and healthy development of China's economy, the country is rapidly moving into middle-class society
The marketing suggestions suitable for the Chinese market could be offered to other luxury brands who are eager to make their mark in the Chinese consumer market
Louis Vuitton's flexibility in using various marketing strategies and its focused omni-channel expansion approach is worth learning from all luxury brands that value the Chinese luxury consumer market
Summary
With the continued steady and healthy development of China's economy, the country is rapidly moving into middle-class society. The huge high-growth Chinese consumer market has unlimited market potential. In the environment where the economy of many countries has not fully recovered from the epidemic of New Coronavirus, China's consumer market is a strategic place that cannot be missed. With the process of globalization, luxury goods, which once belonged to only a few affluent people, have gradually connected with the mass consumption market. Market segmentation was introduced in the 1950s to divide different groups of consumers into sub-markets according to their objective differences in needs. The second question is what do our main target groups want and how should the brand meet their needs? As a leading luxury brand in China, how does Louis Vuitton meet the needs of different age groups and different consumption levels? The marketing suggestions suitable for the Chinese market could be offered to other luxury brands who are eager to make their mark in the Chinese consumer market
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