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Our main aim is to retain our esteemed customers while attracting new loyalties from all over the world. Therefore, we focus on quality advertising and providing accurate information about our products to enhance credibility and trust. While we still use billboards, magazines, television, transportations, and other traditional advertising methods, social media is our most preferred advertising means. Social media has not only enabled us to reach a wide variety of customers across the world, but it has also made it possible for our brand to connect with people, outdoing the traditional marketing methods (Godey et al., 2016). Moreover, the virtual internet connection has given Louis Vuitton a new image of cordiality and accessibility that was absent in the years before social media.
We focus on unique marketing strategies for our quality products by incorporating only the best advertising talents and using various celebrities like Angelina Jolie and Billie Eilish. We work with stars because they attract a large pool of loyal fans who follow them religiously, including their fashion sense. We also incorporate exclusivity in the marketing strategy to lure customers attracted to unique products available for a limited period. In addition to consistency in high-quality products, spectacular and strategic marketing has placed our brand on top. For example, from 2006 to 2012, Louis Vuitton was the most valuable luxury brand globally, and in 2019, it was worth 39.3 billion dollars with 15.5 billion dollars in sales (Oliveira & Fernandes, 2020). During this period, the main customers were the young people whom our social media advertising mainly targeted.
Our ultimate plan for 2021 is to increase our sales and remain on top as the world’s favorite luxury brand. We have also partnered with the National Basketball Association (NBA) to promote our brand in the sports sector and market our products to millions of basketball fans. Our goal is to continue providing high-quality products while broadening our market through strategic advertising. We highly value our customers and reaching out to them through quality advertising is our ultimate goal.
References
Godey, B., Manthiou, A., Pederzoli, D., Rokka, J., Aiello, G., Donvito, R., & Singh, R. (2016). Social media marketing efforts of luxury brands: Influence on brand equity and consumer behavior. Journal of Business Research, 69(12), 5833–5841. Web.
Oliveira, M., & Fernandes, T. (2020). Luxury brands and social media: Drivers and outcomes of consumer engagement on Instagram. Journal of Strategic Marketing, 1–19. Web.
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