Louis Vuitton is one of the most flashy and prestigious fashion brands in the global market. The brand is a French fashion giant that was founded in 1854 (Whitaker, 2009). The brand focuses on the production and distribution of a wide range of products including luxury trunks, leather goods (bags, shoes, and clothes), and accessories. Considering that Louis Vuitton is a luxury brand, my focus will be on a given group of consumers who will be segmented based on demographic, geographic, and psychographic aspects.
Target customers for my product will be segmented based on the mentioned factors. My brand will primarily target consumers based on psychographic aspects, particularly those with status-related motives. This implies that the brand’s target customers will be those individuals who desire to associate with products that make them feel that they belong to an exclusive group of high-income individuals. The brand will also rely on demographic aspects such as age, gender, education level, income level, family size, and race to segment its customers. The brand will primarily target consumers from any race (White, African American, Hispanic, and others), females and males, individuals aged 16-80 years from high-income households, and various family sizes regardless of the number of kids. The brand will also segment its target consumers based on geographical aspects such as their area of residence. The focus will be on the wealthy individuals who reside within the urban areas across the United States.
Louis Vuitton bag will be a luxury brand exclusively for wealthy individuals. As the brand’s customers, the product’s attributes including high quality, craftsmanship, creativity, and precision will not only give you the satisfaction of owning such an expensive item but will also give you extra-added psychological benefits like prestige and a sense of high class. This marketing message will enable the target customers to understand they belong to an exclusive group of wealthy individuals and that the brand aims to ensure that they maintain high social class status in society.
Reference
Whitaker, M. B. (2009). Louis Vuitton. Oxford Art Online. https://doi.org/10.1093/gao/9781884446054.article.t2080216