Help needed: Marketing Research LV

mdking

Member
Dec 17, 2006
7
0
Hi everyone,

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

Scanerio;
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!!!
 

Leelee

Up On My Toes!
Jun 6, 2006
7,370
2
Highland, Maryland
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.
 

mdking

Member
Dec 17, 2006
7
0
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.