Help needed: Marketing Research LV

  1. Hi everyone,

    I am a student doing my Bachelors Program and I need some help. I am conducting a marketing research for the uni.

    As a marketing manager for LV company you have been asked to create a marketing plan and a management presentation for an international market of your choice.

    Basically, I am the marketing manager for LV in Paris and we are launching a new product line (Prestige Handbags) in the UK Market. The Handbags will be launched in Edinburgh and London. I am asked to write about the following and being a male, I haven's got the slightest clue about handbags. Therefore I really need some female perspectives on this!!

    I am required to write about:

    1) Market Demographics/Target Market
    2) Market Needs/Trends
    3) SWOT Analysis
    4) Product Offering
    5) Competition

    I would really appreciate if anyone could help me with this!!!
  2. I'm not sure exactly what your questions to us are, but I'll give it a try with what I think they might be.

    1. Market Demographics/Target Market - I'm 50 years old, college-degree, interested in ballet and music. Not employed, but my husband owns his own business. Live in suburban DC/Baltimore area. Comfortable houselhold income, interested in classic style and quality.

    2. Market Needs/Trends - Quality materials and workmanship.

    3. SWOT Analysis - I have no idea what this is.

    4. Product offering - availablity is important to me. Nothing is more frustrating than having money to spend and a hard time trying to spend it. What I mean is, not running out of merchandise. Also, as weird as this sounds, I don't like my handbags to go on sale. It makes them less exclusive IMO, and when I'm buying LV I like knowing that down the road anyone else buying an LV is paying the same price.

    5. Competition -- I guess the main LV competition would be Marc Jacobs b/c his bags are timeless and current at the same time. Maybe Balenciaga.

    Hopefully some other ladies will have more insightful comments to help you.
  3. Thank you very much Leelee. Your comment was extermly helpful.

    Basically I would like to know what do you think about the following:

    1) Who do you think are the people, LV should target and which demographics they should focus on?? for example from what I see, young girls aged 13-17 are now becoming more fashion aware about handbags and they constitute a significant number. Older women 25+ are still the market drivers they have the income to buy as many handbags as they can...etc.

    2) Market needs/Trends?? why are you buying handbags what needs do they satisfy??? is it the features or something else like bragging or matching with clothes and such...

    3) I guess i will do the SWOT on my own (SWOT = Strengths, weaknesses, opportunities, threats- that LV might face in The UK) (example one of the strengths is the BRand name - people know about it) (weakness might be - no suppliers for example)

    4) Product offering - what the handbags that you buy should offer?? for example after sales guarantee or various features - maybe the style or the color...etc!!!

    5) Who do you think are the main competitors of LV in the UK and why?? for example Gucci b/c they offer classy handbags....etc

    Here, I hope now the questions should be a little clearer than before and I really hope to see some more comments

    And Again, thank you very much (Leelee) for you valuable input.