Buyer Behavior Assignment - Mk 0385

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Brand familiarity assumes that brand familiarity is context-independent and is affected in a similar way by advertising exposures, purchase behaviour, and product consumption or usage. (Baker, 1986) when looking at information processing and motivations I believe reflects on the level of personal relevance that a consumer sees in our product. Involvement is the motivation to process information, so if consumers don’t have any interest in our brand or motivation towards table ware, it is not going to communicate with the consumer. We aim to tap into emotional involvement of our brand and consumers.

Brand image shows how we want to be perceived to our target market and how we are positioned in terms of our competitors we aim to use emotional components we aim to motivate consumes by the brand personality which will be reflected in our advertising style, symbols, logos, and retail environment. (Hennigs et al., 2012)

Task 3

Context Analysis

We wanted to maintain the essence of Louis Vuitton as a brand when launching our new product range of Table ware, in order to remain relevant and competitive it is essential we keep up with our competitors. Competitors in the Luxury Fashion brands market have launches table ware product ranges such as Hermes, Giorgio Armani and Versace. The development of this new product range will attract new customers to our brand and excite our loyal and existing customers as they are able to try our new products from their trusted brand.

Our target market for this product will be adults ages 25 – 65 as table ware is an essential to everyday life and can be used by any age group our main focuses will be on the customers who can afford to buy the products. The new product line aims to target wealthy people from privileged backgrounds with disposable income but also people who are entering a stage in life where they have disposable income such as working professionals. We will be targeting people who are already familiar with our brand and can afford our existing products but may prefer to spend more on luxury design products made for the home rather than luxury fashion items. The people we will be targeting will have a strong connection with luxury, quality and design and aspires to a luxury lifestyle. As a brand we are considered valuable and have always had a strong link with art and design, in order to remain successful, we need to convey this with our new product range. (the Guardian, 2014) The brand has also maintained in a positive state despite the global recession with Louis Vuitton ranking 14th in Forbes most valuable brands list and reaching 40% profit margins. (Forbes.com, 2016) We are not just selling products we are selling a lifestyle which will be the focus when advertising and releasing our new product.

Positioning strategy

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Figure 1

Shown above is the positioning strategy we will use; the matrix places our main competitors or other luxury fashion brands who are offering similar product ranges to our Louis Vuitton table ware. Our position in the matrix shows slightly higher prices than Versace and medium accessibility showing us that they will be our main competitor with the product range even though the brand represents a completely different style and design and attracts different clientele.

Marketing Communications Strategy & Mix

Communication Goals

We took this on board when deciding Our Proposed campaign objectives for Louis Vuitton luxury tableware of this IMC campaign are to maintain the Louis Vuitton brand image and communicate the following communication objectives: association, perception, and evoking an emotion.

1. Create an association in consumers’ minds between Louis Vuitton’s current status as a leading luxury brand, noted for quality and timelessness, and our new tableware products.

2. Extend the perception that the brand is not only a clothing and accessories provider but also a luxury table and dining wear supplier.

3. Evoke the emotions that consumers already associate with the brand. The imagery, font, and copy must all provide consumers with a sense of belonging, exclusivity, elegance and timelessness that Louis Vuitton is built upon

Communication Objectives

The Fill MCPF frame work clearly shows that all campaigns need corporate, marketing and marketing communications objectives. (Fill, 2000) Here are our 3 objectives.

Increase Louis Vuitton site traffic by 10 percent within the first six months of our launch.

Double the target market’s current perception of how accessible Louis Vuitton is to them after 3 Years of new product release.

Within the first six months, following our release, increase in-store awareness of Louis Vuitton Table ware by 50 percent.

I feel that the most suitable marketing communications for our chosen target consumers and our brand would be celebrity endorsement advertisement, catalogues, direct mail and magazine advertisements and via existing online platforms. We believe this would be the best strategy as we still need to remain competitive we aim to use direct marketing and not mass as this is more effective for our product and brand as a whole. We want our new product to be focused around quality and to maintain the prestige mage of the brand using a high price strategy with no discounts or promotion offers as this may damage the brands image. We will offer personal customisation of the new table ware products as is may boost appeal for the product and many customers enjoy that extra exclusivity.

Creative Strategy

When promotion and advertising these products we will use statement images of the products themselves but also incorporate celebrity endorsement advertisements using our chosen celebrity actress Sarah Jessica parker who is a loyal customer to the Louis Vuitton brand (Elleuk.com, 2012), she is within the age range of our target market, making her relatable and many people aspire to her real life and her character of successful TV show “Sex and the City” who has a passion for luxury fashion and labels. Both in real life Sarah Jessica Parker is a known style icon which is what we want people to associate our new products with luxury style, design and lifestyle. In relation to buyer behaviour it creates a connection