who would you say LV target markets are?
- Thread starter IWearHeels
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Actually, I side with COSMOS (but don't necessarily totally agree with her). Just because "everyone" buys LV, doesn't mean it was targeted to "everyone."
The "target market" is the main demographic that LV wants. That target is probably something more like $75,000+ income, female, 24-45, metropolitan (or "cosmopolitan") city.*
The way they achieve reaching to the target is with their brand image of the chic jetsetter.
Now, the people who don't fall under the "target" is not necessarily an unwelcome market (LV, as a corporation, loves money), but they are not the target. The people who fall under the $75,000 (or whatever it really is, maybe higher or maybe lower than that) income bracket or doesn't met the chic, upper class/upper middle class image of the "target" falls under the trickle-down-theory. ie, for the most part these luxury companies use LE or clothing and an image to lure customers in, target or non-target, figuring that the lower income people who want to buy into that sort of lifestyle will buy the lower priced items. (This isn't 100% the model, as the Neverfull and the Pochette have both been in ads BUT the overwhelming majority of ads for LV are higher priced items.)
*Please note that my description of the "target" is not accurate, that is just a rough outline of what I think it is.
Also, please not that just because someone isn't in the "target," it does NOT mean they are an unwelcome market, or even a secondary market that LV is hoping to attract.
In addition, any marketing strategy will attract non-"targets" -- it does NOT mean it is a bad marketing strategy.
This strategy is just to help focus the branding of the company. If LV really did "target" "everyone," their ads, promotions, parties, etc. would not be as consistent, and therefore, would not be as strong as it is.
This thread was also started in the General Discussion, and I originally responded there, but I'll add here as well.
I hope I can contribute a little since I have worked in ad agencies for over 15 years on many large clients with multi million dollar budgets. I don't currently work on an LV campaign, but I hope I can shed some light on this topic.
A target audience is not the same thing as an advertising strategy. To answer the original question posed by the OP, one of the targets might be women, 25-54, HS graduate or higher, $75K+ annual HHI. This of course would be to selling more of the "mainstream" bags, such as the Speedy 25 or 30 or other bags such as the Neverfull which are in that price range.
The advertising strategy, seen in many photos on this thread, is geared toward depicting a feeling or emotion, to entice the person to buy. In many cases, ads are created (especially in fashion) to invoke fantasy. Strategy is created to make the buyer feel like they are making the right decision in buying the product. These images in advertising may have nothing to do with the consumer's actual lifestyle -- they are selling a fantasy, not reality. However, if that fantasy registers with the consumer and they buy the product -- the ad strategy is successful.
I caveat that knowing that not all products are marketed the same way as luxury brands -- obviously selling Ajax or Windex will require a different advertising strategy.
Thanks for reading!
I hope I can contribute a little since I have worked in ad agencies for over 15 years on many large clients with multi million dollar budgets. I don't currently work on an LV campaign, but I hope I can shed some light on this topic.
A target audience is not the same thing as an advertising strategy. To answer the original question posed by the OP, one of the targets might be women, 25-54, HS graduate or higher, $75K+ annual HHI. This of course would be to selling more of the "mainstream" bags, such as the Speedy 25 or 30 or other bags such as the Neverfull which are in that price range.
The advertising strategy, seen in many photos on this thread, is geared toward depicting a feeling or emotion, to entice the person to buy. In many cases, ads are created (especially in fashion) to invoke fantasy. Strategy is created to make the buyer feel like they are making the right decision in buying the product. These images in advertising may have nothing to do with the consumer's actual lifestyle -- they are selling a fantasy, not reality. However, if that fantasy registers with the consumer and they buy the product -- the ad strategy is successful.
I caveat that knowing that not all products are marketed the same way as luxury brands -- obviously selling Ajax or Windex will require a different advertising strategy.
Thanks for reading!
LV is for everybody!
I dont think it is in any way marketed twords any certain type of person!
It just makes me mad that people would think that.
There are all types of people in the LV forum!
Rich folks, and the people living from pay-check to pay-check!
Young people, middle aged, and older folks.
Louis vuitton is made for who ever has the money and wants to buy it.
Just because their marketing adds have certain people and certain set-ups doesnt mean its geared twords that type of person.
Hell, I'm 16, I have no job, I'm a middle class american. I have to rely on birthdays and christmas for my LV. But I think it just makes me cherish them more.
Again, Louis Vuitton is not for just one type of person.
Thats why they have so many different styles. To suit everybodys needs.
UGG!
I dont think it is in any way marketed twords any certain type of person!
It just makes me mad that people would think that.
There are all types of people in the LV forum!
Rich folks, and the people living from pay-check to pay-check!
Young people, middle aged, and older folks.
Louis vuitton is made for who ever has the money and wants to buy it.
Just because their marketing adds have certain people and certain set-ups doesnt mean its geared twords that type of person.
Hell, I'm 16, I have no job, I'm a middle class american. I have to rely on birthdays and christmas for my LV. But I think it just makes me cherish them more.
Again, Louis Vuitton is not for just one type of person.
Thats why they have so many different styles. To suit everybodys needs.
UGG!
I realise what the Neverfull is a tribute to, however I don't think it's targeted at the "jet-setters". I don't think LV are exclusively targeting the jet-setters, because that's a very small market and this would not correlate with its growth strategy nor would it sustain the company's impressive sales records. However, I definitely agree that there is a difference between those that buy LV and those that are targeted.
LV has always been about luxurious lifestyle.
Just because you can afford to buy something, doesn't mean you are the target market. I doubt Marketing is sitting in a room thinking of ways to get people that have to save up to buy their items in their stores. Business is about supply and demand. The more you make in the shortest amount of time is what it is about. Go into a LV and I bet you 80% of the people in there have money and didn't have to save to buy their items. This isn't saying that it is bad to save up, but I really don't see that as being their target market.
Just because you can afford to buy something, doesn't mean you are the target market. I doubt Marketing is sitting in a room thinking of ways to get people that have to save up to buy their items in their stores. Business is about supply and demand. The more you make in the shortest amount of time is what it is about. Go into a LV and I bet you 80% of the people in there have money and didn't have to save to buy their items. This isn't saying that it is bad to save up, but I really don't see that as being their target market.
Then that means they can't afford it, if they are going into debt over a bag.
The savviest LV people are the young 15-25 year old. Test: I have a new damier azur speedy 25. At work, only my young colleagues noticed it, same for the stares I get on the street, all young girls. My mother in law or/and middle aged women cannot identify the bag as being LV.