Research on Louis Vuitton's Marketing Based on 4P Theory

Research Article
Open access

Research on Louis Vuitton's Marketing Based on 4P Theory

Xianzhen He 1*
  • 1 The Ohio State University, Columbus, Ohio, the United State, 43210    
  • *corresponding author m18518223268@163.com
Published on 27 April 2023 | https://doi.org/10.54254/2754-1169/6/20220178
AEMPS Vol.6
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-915371-23-2
ISBN (Online): 978-1-915371-24-9

Abstract

The luxury goods market has matured in developed countries, but is only beginning to emerge in developing countries. Developing countries are rich in emerging markets. However, in Africa, South Asia, and other countries, due to factors such as political instability and the COVID-19, the development prospects of emerging markets are still unclear. In contrast, China's luxury emerging markets are relatively stable. With its increasing population and per capita disposable income, China has become the second largest market for luxury consumption after the United States. While China is having a huge impact on the luxury market, local luxury goods are also gradually developing. This paper will research Louis Vuitton's marketing strategy based on the 4P theory, and make suggestions for Chinese local luxury goods companies. Louis Vuitton in China has excellent product quality, clear consumer target groups and pricing, a far-sighted geographical location and effective promotion methods. Louis Vuitton used product strategy, price strategy, positioning strategy and promotion strategy respectively. Local luxury goods producers should copy their marketing methods and improve their areas of expertise and price strategies to gain initial development in the market.

Keywords:

Chinese, 4p Theory, Louis Vuitton, Luxury Good, Market

He,X. (2023). Research on Louis Vuitton's Marketing Based on 4P Theory. Advances in Economics, Management and Political Sciences,6,162-166.
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References

[1]. Statista, 2022, Luxury Goods - Worldwide, https://www.statista.com/outlook/cmo/luxury-goods/worldwide#revenue

[2]. Travel France Online, Louis Vuitton store Champs-Elysees – Flagship store, https://www.travelfranceonline.com/louis-vuitton-store-champs-elysees-basic-facts/

[3]. avada, 2022, Louis Vuitton Advertising Strategy: Why is Louis Vuitton so popular?, https://blog.avada.io/resources/louis-vuitton-advertising.html

[4]. Harsh Mishra, 2021, Distribution channels of Louis Vuitton: norms and regulations, https://blog.ipleaders.in/distribution-channels-louis-vuitton-norms-regulations/

[5]. Zarqoon Amin, 2022, Louis Vuitton’s 15 Marketing & Business Strategies To Learn From, https://squeezegrowth.com/louis-vuitton-marketing-and-business-strategies/

[6]. LVMH, 2022, Growth continues at the same pace, https://www.lvmh.com/news-documents/press-releases/excellent-first-half-for-lvmh-26072022-2/

Cite this article

He,X. (2023). Research on Louis Vuitton's Marketing Based on 4P Theory. Advances in Economics, Management and Political Sciences,6,162-166.

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The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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About volume

Volume title: Proceedings of the 2022 International Conference on Financial Technology and Business Analysis (ICFTBA 2022), Part 2

ISBN：978-1-915371-23-2(Print) / 978-1-915371-24-9(Online)
Editor：Javier Cifuentes-Faura, Canh Thien Dang
Conference website: http://www.icftba.org
Conference date: 16 December 2022
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.6
ISSN：2754-1169(Print) / 2754-1177(Online)

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References

[1]. Statista, 2022, Luxury Goods - Worldwide, https://www.statista.com/outlook/cmo/luxury-goods/worldwide#revenue

[2]. Travel France Online, Louis Vuitton store Champs-Elysees – Flagship store, https://www.travelfranceonline.com/louis-vuitton-store-champs-elysees-basic-facts/

[3]. avada, 2022, Louis Vuitton Advertising Strategy: Why is Louis Vuitton so popular?, https://blog.avada.io/resources/louis-vuitton-advertising.html

[4]. Harsh Mishra, 2021, Distribution channels of Louis Vuitton: norms and regulations, https://blog.ipleaders.in/distribution-channels-louis-vuitton-norms-regulations/

[5]. Zarqoon Amin, 2022, Louis Vuitton’s 15 Marketing & Business Strategies To Learn From, https://squeezegrowth.com/louis-vuitton-marketing-and-business-strategies/

[6]. LVMH, 2022, Growth continues at the same pace, https://www.lvmh.com/news-documents/press-releases/excellent-first-half-for-lvmh-26072022-2/

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