Gucci Marketing Mix and Targeting Strategy
INSTRUCTIONS:
Individual Course Project (16%
of final course grade)
Marketing Mix and
Targeting Strategy
Due by 11:59 PM EST
on Thursday May 16th, 2019
Select
a luxury or niche brand whose products/services you are familiar with. Please be sure to email me your brand
selection for approval, prior to starting the project.
Examine
the brand’s marketing mix (product/price/distribution) and how the brand
leverages target marketing to further their brand. Your report must include (but is not limited
to) a critical analysis of its marketing mix and its targeting strategy to
improve its position in the market, and strengthen its relationship/connection
with its customers.
Project Requirements
Your report must include a minimum of eight (8) pages of content, and no more than twelve (12)
pages of content. Not including your cover page,
appendix, or references.
Your report must be broken down into the specific
sections/headings below:
1.
Executive Summary: An executive summary should highlight some key findings
and suggestions to motivate a reader to read the report. [No more than 1
Page]
Tip:
Craft this after you have completed all other sections
2.
Introduction: Introduce the
company, mission statement, product/ services they market, major competitors,
online presence (including social media). [No more than 2 Pages]
3.
SWOT Analysis – Brand: Use Table A2.3 on page A39
(Appendix) of your textbook as an example of how it should be laid out.
4.
Marketing Mix: Provide a summary that
highlights the corresponding strategy for each brand element below.
a.
Product(s)
b.
Price
c.
Distribution
Critical Analysis – Marketing Mix: What are they
doing right, and what are opportunities for improvement? [Minimum of 1 Page]
5.
Targeting Strategy:
Provide
a summary covering each element below
a.
Who are they targeting?
b.
How are they promoting their products/services?
6.
Critical Analysis – Targeting Strategy: What are
they doing right, and what are opportunities for improvement?
7.
Conclusion: Do not just
summarize the key points of your report. Your conclusion should offer the
reader a new way of thinking about what you have said in your report. [No more than 1 page]
8.
Appendix: On a separate
page(s) include any relevant advertisements, media screenshots, etc in this
section. [Does not
count toward the report minimum of 8 pages]
9. References: Cited on a separate page. [Does not count toward the report minimum of 8 pages]
As
an FYI, Appendix 2 in your course textbook offers a sample Marketing plan which
shares some of the items required for this paper.
SOLUTION:
Student:
Professor:
Course:
Date:
Gucci Marketing Mix and Targeting Strategy
Executive
Summary
Gucci
is one of the most dominant entities in the fashion industry that provides high
quality and well-crafted products to high-end customers at premium prices. It
primarily targets consumers from the high-class backgrounds, influential
persons, celebrities and so on due to its provision of expensive goods. The
company offers its end-users a range of luxury
items that include handbags, shoes, dress shirts, wallets, belts, briefcases,
and accessories. The success of the enterprise relies on the effective
marketing strategies that let it compete with its direct rivals such as Chanel,
Christian Dior, Hermes, Balenciaga and so on. The firm uses both digital and
social media platforms to reach its target audience since it acknowledges the
significance of preserving an online presence. In the international, market it relies
on a diversified supply chain that allows it to maintain more than 300 stores. The
widespread distribution increases its dominance in the provision of
Italian-inspired style and lets the top executive gain control of the clothing
industry. The entry into the new emerging market has endorsed Gucci to change
its business model, forcing the entity to provide products that are affordable
to the middle-class and high-end middle-class group. All of these allow it to
become one of the leading fashion houses in the world.
1.1 Introduction
Guccio
Gucci established his first business empire in 1921 by opening an outlet in
Florence, marking the beginning of the traditional luxury fashion house.
Copying his father’s trading model, Guccio changed the Italian leather industry
and offered end-users with better products. He designed most of his merchandise
based on horseracing and highly crafted art leading to popularity in the global
leather industry. The enterprise attracted the interest of various customers,
especially, celebrities who bought the selection of bags, shoes, baggage ties
and so on. After the death of Guccio, Gucci faced economic turbulence as it experienced
family feuds and threats of bankruptcy. Nonetheless, it remained stable, becoming
one of the most reputable global fashion brands. This paper investigates the
company’s marketing mix and marketing strategy.
1.2 Gucci’s Mission Statement
Gucci’s mission is to “control
the international luxury industry.”
As a result, the corporation emphasizes
accountability and responsibility in fulfilling the expectations of the end
–users by offering fashioned-oriented products. The top management correlates
these distinct organizational aspects and takes the needs of its clients as its
obligation. The firm bases its global business approach on the elements of its corporate
social responsibility strategies. Working on the establishment of public
relation efforts, Ward concludes that it operates with an all-inclusive, but
also, a proper attitude. Consequently, the fashion house believes that through
effective expansion strategies it can control the global market.
1.3 Gucci’s Products
Gucci's products include a collection
of luxury items that include handbags, shoes, dress shirts, wallets, belts,
briefcases, and accessories. According to Tokatli, the company provides
outstanding services while maintaining a source of qualitative products. For
decades, the business represented the emblem of undeniable excellence in the
global leather industry. With time it has evolved its trade strategy and promoted
itself as one of the most significant providers of jewelry and clothing
products. The top executive concentrates on custom and strives to maintain its
competitive advantage in the multifaceted industry by offering well-crafted merchandises.
1.4 Gucci’s Major
Competitors
The major competitors of the Gucci include Bulgari, Chanel, Balenciaga, Burberry, Ralph Lauren, Christian Dior, Prada, Armani, and so on. These firms present...
