LV - Doing some research

  1. Hi girls,

    Please spare me a moment of your precious time!!!

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

    Scanerio;
    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!!

    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 self-image or matching with clothes and such...

    3) SWOT Analysis (SWOT = Strengths, weaknesses, opportunities, threats- that LV might face in The UK) (one example of the strengths is the BRAND name - people know about it) (weakness might be - not good in advertising for example)

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

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



    I would really really really appreciate if anyone could help me with this!!! seeing that you all are experts in the field of the phenomenon that is LV Handbags



    Oh one last thing!! can someone give me other options for product name (other than prestige)

     
  2. 1) Who do you think are the people, LV should target and which demographics they should focus on??

    Women 25-35 years of age. Gay men, cause they´re fabulous and get away with flashier styles.

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

    I buy the beauty and tradition in them. Knowing that Lv has been around for years and will be for more is a definite selling point.

    3) SWOT Analysis (SWOT = Strengths, weaknesses, opportunities, threats- that LV might face in The UK) (one example of the strengths is the BRAND name - people know about it) (weakness might be - not good in advertising for example)


    Strength: as said above, tradition. Also, I love the fact that LV dares to take risks. Weakness: Rude customer service we´ve been hearing about oh so much.

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

    Excellent quality, I expect nothing less.

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

    Marc Jacobs´s own brand.



    Oh one last thing!! can someone give me other options for product name (other than prestige)


    I´ve always loved the name Grace.

     
  3. Where is the 18-24 group? What am I, chop liver? LOL.
     
  4. SWOT. id love to hear that in a british accent!
     
  5. Older women ???? 25+ ???? :confused1: Are you not missing some more age brackets ?
    First, considering that more and more women study until they're 30.....and then start their career on a pretty low income.
     
  6. thank you very much Nola for the extermly helpful comments. Also thank you michelle, bvbirdygirl and mellecyn for your replies.

    Nola: thanks again. At the moment am focusing on selling to females only and I really liked the name (Grace). I will surely use this one isntead of prestige unless someone comes with a better one :p

    Michelle: Shocking!!!! I really did miss that age group, I guess i was writing too fast!!!

    Bvbirdygirl: I would like to hear that too!

    mellecyn: Thanks, and you are right! I told you I haven't got any idea, that's why I needed your input to correct my information and share your knowledge with me.
     
  7. :roflmfao: :roflmfao: :roflmfao:
     

  8. No, you aren't chopped liver, but you are an anomaly in your age category. Most young adults in that age category are single and struggling to make ends meet (rent, car payments, student loans, etc.); therefore, they don't have high disposable incomes. Post 24 is when we start making the bucks.:yes:
     
  9. Oh no:shame: I excluded you out even though you´re one of the greatest collectors here:shrugs: Heck, I even excluded myself out, since I´m 24!:roflmfao:
     
  10. 1) Who do you think are the people, LV should target and which demographics they should focus on??

    Target the young ones (you determine what 'young' is, I don't wanna get into an age related argument, which has already happened...) cuz they'll have more years to live and buy more LV than.....someone 'old' lol

    2) Market needs/Trends - why are you buying handbags? what needs do they satisfy???

    I buy LV cuz of it's HISTORY, NO-SALES policy, and fun vibe (eg. Multicolore line). Also, cuz...well...in a way, *I think* that Asian girls are more influenced by brands/image (eg. Japan, China)

    3) SWOT Analysis (SWOT = Strengths, weaknesses, opportunities, threats- that LV might face in The UK)

    Strength: History; intro of new LE bags every season to appeal to more customers; No sales
    Weakness: some snobby SAs; intimidating environment for shy customers (eg. if you want a specific bag (which might often NOT be on display), then you need to ask the SA for it, not very customer-friendly); no prices on LV's national sites (eg. USA)
    Opportunities: ummm....get Kate Moss to advertise for them? lol
    Threats: ummm...Burberry? but i guess not, since Burberry isn't even pure british anymore since they're considering to move to China......

    4) Product offering - what the handbags that you buy should offer??

    More compartments/pockets in the in bags; all leather lining on all bags; special LV CANVAS/LEATHER CLEANERS-->especially for dirty vachetta handles

    5) Who do you think are the main competitors of LV in the UK and why??

    Chanel and Hermes; all others stand NO CHANCE! lol

     
  11. 1) Who do you think are the people, LV should target and which demographics they should focus on??
    I would say both, why can't they focus on all age brackets. The younger generation are fashion savy and are willing to save for these kinds of bags. Now the older generation grew up with these bags as "highend", and they have the money for it. Wouldn't it be awesome to see a mom and her daughter sporting LV's on their advertisement.

    2) Market needs/Trends -
    We all know that we carry these bags because they are beautiful. But it's also because of stature, why else wouldn't we get a bag that cost $5 and start forums for them. LV and all the other highend brands understand that and use that tool.

    3) SWOT Analysis (SWOT = Strengths, weaknesses, opportunities, threats- that LV might face in The UK)
    Threats...THE FAKES!!! I think the fakes drag the name down a bit. And after reading some of the ladies threads on here about other women trying to say their bags are fake, I thought was just plain old mean.

    4) Product offering - what the handbags that you buy should offer??
    Stores should definitely offer free repairs (as they do) for the price we are paying for them. Style I think is in the eye of the beholder.

    5) Who do you think are the main competitors of LV in the UK and why??
    Gucci, because there status is about equal and price is good too.
    Chanel, because I noticed that when women start buying Chanel they don't really go back to buying other brands.
    I mean really all the highend designer brands are competition...I think.

    I hope this helps and doesn't offend anyone :smile:.
     
  12. Handbag Luvr & CEC.LV4eva: Your comments were incredibly helpful and very insightful. Thank you very very much for this. I truly appreciate it.
     
  13. 1) Older women 25+ are the target for LV: in Italy 14/20 are for Gucci;
    2) what needs do they satisfy???
    They reponse to psychologial needs: to take your world with you; to me, also my bag is my linus rug. Buyng LV you buy an idea of reassuring good quality

    3) SWOT Analysis
    Strengths, maintain high levels of quality
    weaknesses to much eccentric (mirroir line, animalier... for haute couture, not everyday's life and too baroque).

    Opportunities- I'm Italian I did not understand the part of the question
    Threats- aldo not understood

    4) Product offering - bags more peaty (not rigid): I mean I prefer the comfort of the denim instead the hard of the vernis.

    5) main competitors of LV in the UK : Mulberry, Chloe.
     
  14. 1) Who do you think are the people, LV should target and which demographics they should focus on??

    I don't think it's about age so much. Look around here we are from all different ages. I think there is a difference beetween (for instance) England and China. English people are more about being classic maybe a little boring even while people in China love everything designer and flashy. This is just in general and my opion.

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

    For me it's because Louis is classic and doesn't go on sale. Also the whole feeling that brings it is very important to me. Selling a feeling is far more important than the product. If hey sold bags that lasted 50 years at wallmart for 600 dollar i don't think many people will buy them


    3) SWOT Analysis (SWOT = Strengths, weaknesses, opportunities, threats- that LV might face in The UK) (one example of the strengths is the BRAND name - people know about it) (weakness might be - not good in advertising for example)

    The strenght is the herritage of the brand thats important to english customers. Brand name, doesn't go on sale.

    Weaknesses, costumer service, and the brand becomming less exclusive do to mass production and opening new stores.

    Opportunities, i think they need to make special orders easier to people and less exspencive. It will attrack costumers and make the bags more exclusive to the owners.

    Threats, other luxury brands, since lv is becoming so exspensive

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

    don't understand the question.

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

    Hermes, Chanel, Longchamp, Tod's These are all quite classic.
     
  15. I'm 37 and just got into LV......... :rolleyes: