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Research on the Problems Existing and Marketing Strategy Optimization of Maison Goyard
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Abstract
Every luxury business’s 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 Goyard’s current difficulties and optimization objectives, which have contributed to the brand’s promotion and will continue to do so in the future.
Keywords
problems, marketing strategy optimization, Maison Goyard, luxury industry
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Cite this article
Li,D. (2023). Research on the Problems Existing and Marketing Strategy Optimization of Maison Goyard. Advances in Economics, Management and Political Sciences,8,234-239.
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