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Prada have always focused in innovation and creativity and they have always come out with different ways to promote their brand. They have always adopted an aggressive marketing mix promotional strategy to promote their brands.

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'Spider-Man: No Way Home' Star Tom Holland Is Prada's SS22 Campaign Lead

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https://hypebeast.com/2022/1/tom-holland-spider-man-prada-spring-summer-2022-campaign-raf-simons-miuccia

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https://www.instagram.com/tv/CYt9YfnP2cb/?utm_source=ig_web_copy_link

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View this post on Instagram

A post shared by Prada (@prada)

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Prada: Brand value 2022 | Statista

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Prada announces its presence on Instagram’s new Checkout solution for shopping, a new sales channel by the renown social media platform.

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Prada and Instagram shopping/social media marketing

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Prada and Instagram shopping/social media marketing

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https://www.pradagroup.com/en/news-media/news-section/prada-joins-checkout-for-instagram-shopping.html

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https://www.statista.com/statistics/592263/net-sales-of-prada-by-distribution-channel/

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This statistic depicts the net sales of Prada worldwide in 2022, by distribution channel. In 2022, the net sales generated by Prada's directly operated stores amounted to approximately 3.74 billion euros.

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Net sales of Prada by distribution channel 2022 | Statista

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This statistic depicts the net sales of Prada worldwide in 2022, by distribution channel.

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https://www.statista.com/statistics/592326/net-sales-of-directly-operated-prada-stores-by-geographical-area/

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Prada: net sales share by region worldwide 2022 | Statista

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This statistic depicts the net sales share of Prada in 2022, broken down by geographical area.

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https://www.statista.com/statistics/710575/net-sales-of-prada-by-product-line/

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In 2022, leather goods was the Prada Group's main product line. Leather goods by the Italian luxury brand Prada made up of half of the group's net sales worldwide. In the same year, Prada's footwear product line accounted for 18 percent of the company's total net sales.

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Prada: global net sales share by product line 2022 | Statista

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In 2022, leather goods was the Prada Group's main product line.

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Prada is a leading player in the luxury industry, they have a wide range of high end products including clothing, leather goods, eye wear, fragrances, home products, footwear, watches and clothing for both men and women (Prada, 2023).

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Audience composition can reveal a site's current market share across various audiences. prada.com's audience is 39.88% male and 60.12% female. The largest age group of visitors are 25 - 34 year olds (Desktop). https://www.similarweb.com/website/prada.com/#geography

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"Prada has targeted men, women, and children from upper-class families in urban cities for its premium products." (Bhasin, 2019)
Marketing mix of Prada - 4 P's of Prada marketing mix (marketing91.com)

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Prada is associated with retail and lifestyle industry as it deals in apparel and accessories. It is a public limited company of Italian origins. The highly acclaimed company was founded in the year 1913 by its founder Mario Prada. The brand has gained worldwide fame and recognition because of its qualitative products. It faces competition from the following rival brands

Product in the Marketing mix of Prada

Prada is an iconic brand which deals in contemporary collections. Products of this fashion house are known worldwide for its unique designs and great quality with special emphasis on basic colors, opulent fabrics and clean lines.

The company targets both men and women and offers apparel and accessories for both. It has also launched a clothing line for children and a product line called Miu Miu line for younger generation. In the year 2000 it launched its eyewear collection. Prada offers sports and lifestyle line under its brand Linea Rossi. The company has entered in a partnership deal with LG Electronics and has launched mobile phones namely LG Prada 3.0, LG Prada II and LG Prada. Its product kit includes

Fragrances

In year 2004 Prada launched its perfumes collection that includes

Prada for women

Prada Amber pour Homme

Tendre for women

Infusion d'Homme for men

Infusion d'Iris for women

Benjamin for women

La Femme Prada L'eau for women

La Femme Prada Intense for women

La Femme Prada for women

L'Homme Prada for men

L'Homme Prada Intense for men

Prada Candy for women

Prada Apparel

Prada Feather-embellished silk-twill robe

Prada Feather-trimmed cardigan

Prada Feather-trimmed boyfriend jeans

Prada Feather-trimmed crinkled silk-chiffon straight-leg pants

Prada Cropped feather-trimmed denim jacket

Prada Feather coat

Prada Footwear

Prada Bow-embellished leather and printed canvas slingback pumps

Prada Suede ankle boots

Prada suede mules

Prada Patent-leather platform sandals

Prada Velvet platform sandals

Prada Glossed textured-leather pumps

Prada Bags

Prada Cahier quilted leather shoulder bag

Prada Quilted leather belt bag

Prada Giardiniera printed canvas tote

Prada quilted leather camera bag

Prada Pionniere leather-trimmed velvet shoulder bag

Prada Wallet on a chain textured-leather shoulder bag

Prada Accessories

Prada Suede belt

Prada Feather and bead-trimmed striped wool scarf

Prada bead-embellished leather gloves

Prada Beauty

Prada Large leather-trimmed gingham canvas cosmetics case

Prada Vela textured leather-trimmed shell cosmetics case

Prada Gingham canvas cosmetic case

Place in the Marketing mix of Prada

Prada has spread its presence in most countries of the world and has its headquarters based at Milan in Italy. The original Prada outlet was opened in Milan in the year 1913 and by the year 1983 its expansion plans included boutiques in New York, Tokyo, Paris, London, and Madrid. In the year 2012 Prada had inaugurated its largest boutique at Mall of the Emirates in Dubai. The brand has also opened its stores in Hong Kong, Germany, Austria, Canada, India, Indonesia and Australia.

Prada realizes the importance of expansion plans and deals with its customers via its flagship stores called Prada Epicentres. These outlets have been designed by acclaimed architects to offer a unique Prada experience to its elite customers.

Currently, Prada has six hundred and eighteen outlets situated in megastores, malls and multi-purpose buildings all over the world. Prada realizes the importance of online shopping and caters to its customers via its official e-store.

Price in the Marketing mix of Prada

Prada is a prestigious fashion house that deals in luxurious items. At the end of the financial year 2016, it posted its revenues at 3.91 billion US Dollars. It has positioned itself as an influential fashion brand with a premium status symbol. Prada has targeted men, women, and children from upper-class families in urban cities for its premium products.

Prada has a high brand value and hence has adopted a premium pricing policy for its customers. Its client list includes royals, dignitaries, models, actors, and famous personalities. The brand charges astronomical sums for its products but they are a hit as people are eager to be associated with such a high-profile brand name.

As its clients belong to the elite class to whom money does not matter much the company has been successful with its premium pricing policy. Sometimes it caters to its clients by creating customized goods that are charged at highest premium rates.

Promotions in the Marketing mix of Prada

Prada has a strong brand presence in the worldwide market. It has adopted several advertising methods to create and retain its brand name. Prada has been associated with celebrities and famous personalities some of which have acted in its commercials. Some high profile models include Sasha Pivovarova, Vlada Roslyakova, Ali Stephens, Suvi Koponen, Vanessa Axente, Gemma Ward and Daria Werbowy. For its men's collection, the brand has included actors and models like Norman Reedus, Emile Hirsh, Adrian Brody and Gary Oldman.

It aggressive marketing policy includes ad campaigns launched via newspapers, fashion magazines, hoardings, and television. Ads are displayed in Elle and Vogue, which have a distinctive viewership of its own. Its official website comes in handy to promote its products by launching its campaigns and offering brand and product-related information.

Prada has been the recipient of several awards and recognitions. For its accessories, it was given to the Council of Fashion Designers of America award in the year 1993. In the year 1995, it received the prestigious Designer of the Year award. In the year 2017, under a sponsorship deal, it was declared that Prada would be hosting sponsors at 2021 America's Cup for Challenger Selection Series. The brand acts as a host for seasonal shows at the international arena.

In the year 1988, it participated in its first show for womenswear and in the year 1993 for a menswear collection. As part of its promotional strategy, the brand organized a traveling art-gallery that helped it in connecting with the customers directly. Prada recognizes its social responsibility and took part in a charity event that worked towards Breast cancer prevention.

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Prada is associated with retail and lifestyle industry as it deals in apparel and accessories. It is a public limited company of Italian origins. The highly acclaimed company was founded in the year 1913 by its founder Mario Prada. The brand has gained worldwide fame and recognition because of its qualitative products.

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"It has carefully curated products that cater to the needs of its niche segment of upper-class society...." (Shastry, 2021)
Comprehensive Marketing Mix Of Prada - 2023 Update | IIDE

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Prada is known for its fashion products. As mentioned earlier, it was discovered in Italy since then the company has evolved and became a renowned fashion brand across the globe. Currently the CEO of Prada is Patrizio Bertelli.

The brand gained its popularity in 1985, where it launched a series of black nylon handbags and backpacks with understated labelling labour. From 1913 to the present Prada has over 618 boutiques worldwide.

Being a luxury brand, it is famous amongst the upper class, rich society, and also fashion influencers. Now that we learned some details about the brand, let's dive into its marketing mix.

The marketing mix refers to a combination of all the actions and strategies that are used by a company for promoting and creating awareness about the products in the market. The main terms that are used for marketing are Product, Place, Price, Promotion, People, Process, and Physical Evidence which are referred to as the 7Ps of Marketing Mix.

A company combines these 7Ps and its products in the market to its target audience and gains an edge amongst its competitors.

Let us now know in detail about the 7Ps of the marketing mix and how Prada uses it to its benefit to promote its products in the market.

1. Product Strategy of Prada

Prada has a vast product portfolio. It has a wide range of collections of fashion products and apparel to offer to its customers. Initially, the brand started by selling animal goods and imported truckers and handbags. As mentioned before, the company started gaining popularity by selling nylon waterproof backpacks. Later, it started selling bags and also clothing, accessories, perfumes, shoes, etc for both men and women. The fashion hub has also launched a clothing and product line called dedicated to younger consumers.

Recently in 2021, Prada collaborated with Adidas to present two new brand colourways of the sneakers which will be available from July 19th, 2021. This can prove to be a massive success for both these brands since it has massive followers all over the world. In June 2021, the company also launched " Prada Outdoor Coast Brodum", inspired by the calm and carefree nature of the beach. Along with this, the company also launched an exclusive collection for men and women concerning its coast theme.

It had an electronic partnership deal with LG Electronics and sells mobile phones named LG Prada, LG Prada II, and so on.

Now let's find the pricing strategy of Prada to know about the brand even better.

2. Pricing Strategy of Prada

Prada is a luxurious and prestigious brand. It has carefully curated products that cater to the needs of its niche segment of upper-class society; it's safe to assume that the price ranges are extremely high. Since the luxury fashion house sells very good quality products and also due to its high branding value, the brand charges premium prices for its products. It has a considerable amount of audience who are willing to pay for the same.

Up until 2019, the annual net sales were around 3 billion euros. However in 2020, due to a pandemic, there was a fall in its revenues and a 40% decline in its sales. But the fashion brand saw a 60% growth in its retail sales in Mainland China in June and 66% in July. On the contrary, in European Markets even after the restrictions eased, it remained negative due to lack of tourists.

The cost of the products starts from $50 and can go up to $3000 and above. At times the organization also sells customized products to its customers at the highest premium price.

Due to its pricing strategy, Prada is known as a high fashion brand with a premium status symbol. Let's have a look at its distribution strategy in the below section.

3. Place and Distribution Strategy of Prada

Prada has been in the fashion business for more than 100 years now. It opened its first store in Milan, Italy in 1913 and had its headquarters situated there. It expanded its business in 1983 by opening its boutiques in Madrid, New York, London, Tokyo, and Paris. Currently, Prada is having 618 boutiques spread globally across malls, megastores, etc. It opened its first largest store in Emirates, Dubai in the year 2012.

For its distribution strategy, the brand has opened flagship stores known as the Prada Epicenters , to give its customers some unique Prada experience. These flagship stores are constructed by some of the best and renowned architectures owing to the brand value. The flagship store opened on Broadway in New York is one the most successful store globally.

Along with this, it also launched its official website of an online store for its customers where they can buy different range products. The company has built a huge online presence as its products are available on various other websites like Darveys, Farfetch, etc in addition to its existent official website.

As mentioned before, in June 2021 Prada launched a project known as "Prada Outdoor Coast Brodum", inspired by the beach. The setting for this store included beach sand dues, ocean-blue tents, and sunglasses. The customer can come chill at the beach by the sunsets and also have a drink on the beach bar's terrace.

This was a great distribution strategy led out by Prada. So now, we will dig deep into the section of promotional strategy of Prada.

4. Promotion Strategy of Prada

Prada has always brought innovation and quality in its products. The brand has adopted various promotional strategies to promote its new launch of products to its target audience. It has conducted a lot of fashion shows and runaways where various company models promote its product which proved to be very persuasive and successful in the fashion industry.

These shows are attended by a lot of famous personalities who wear the brand's product or being a part of its ad campaigns. Of course, being a luxury brand, Prada cast big personalities in its ad campaigns and appoint them as brand ambassadors to create an impact amongst its audience and promote its products. It also features top magazines like Vogue, Elle, etc.

As a part of its promotional strategy, Miuccia Prada conducted an art gallery tour for its brand Mui Mui where it targeted its younger customers and created an awareness about clothing lines amongst them.

To contribute its part towards social work the company also associated in Milan charity event to educate its audience and spread awareness about Breast Cancer. Along with these promotional strategies Prada also does promotional activities through hoardings, billboards, newspapers and giving details about its product or campaigns, launch, etc through its official online website.

These are some of the marketing mix strategies used by Prada to promote its products in the market and to create its presence in the minds of the people.

Other Ps include people, process, and physical evidence that many companies use to promote products. Prada also uses them for its marketing mix strategy. Let us have a look at these 3Ps: people, process, and physical evidence in the upcoming sections.

5. People Strategy of Prada

Prada being a brand has to live up to people's expectations towards the brand and therefore, it has a lot of people working under it in different departments.

The company has people working in its sales team who are trained. The firm has been taught to respect its customers. People are working in the customer service department wherein case a customer has any issue related to a product they can approach them and through their guidances get their issue resolved.

People working with the suppliers obtain the raw materials and make sure that the high quality of the final product is maintained. People working in the retail stores answer customer queries and help them make choices while buying by suggesting them a product that's best suited to their taste.

Now we got the basic idea of the people strategy used by Prada. So, let's gander over the process strategy of the company.

6. Process Strategy of Prada

The retail stores of Prada have a lot of systems involved. The people working over there have to make sure that the products are available to its customers all time. If a particular inventory level is low they need to notify and restock them.

For its online store, the company has a computer system that records the orders received online and then based on these orders the product is shipped from their inventory to the delivery site. It also conducts market research to know more about its customer needs and ask their feedback about its experience with Prada.

This helps the brand to improve and cater to its customer needs. So now, let's tear it down and finish the case study with the last marketing mix of Prada - Physical Evidence Strategy below.

7. Physical Evidence of Prada

The corporation has a distinct colour and packing of its products so that it is easier for its customers to identify the product placed on retail shelves. It also has a distinct design on its retail shelves making it more identifiable amongst the rest of the shelves.

The online website is also user-friendly which provides images of the products clicked in high quality and from every angle so that a customer does not face any difficulties while shopping online.

Thus, this concludes the case study of the marketing mix of Prada. Let's wrap it up shortly.

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Comprehensive Marketing Mix Of Prada - 2024 Update | IIDE

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Looking for a marketing mix of Prada? This blog covers the 7Ps Marketing Mix Strategy of Prada. Read to know more.

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Prada ensures its brand presence through in store design.
The original Prada shop in Galleria Vittorio Emanuele II has kept its historic value Located in Milan (Prada, 2023). The Prada Group distributes in more than 70 countries through a network of 635 stores as well as e-commerce channels (Prada Group, 2023).
An example of this is their showcase of Prada Maria which is a permananent artistic installation located in the middle of the Chihuahua desert, 37 miles from Marfa.
The iconic project – defined by its creator as a ‘pop architectural land art project’, reveals the relationship between Prada and the artists. The structure was not commissioned by the brand, yet, Miuccia Prada has appreciated the concept, allowing the artists to use the brand and has donated a selection of pieces from the Prada Fall / Winter 2005 collection that complement the desert tones of the surrounding environment.

Between pure art installation, museum setup and symbol for fashion enthusiasts, Prada Marfa has become overtime a tourist attraction advertised by the many photos posted on social networks by international celebrities like Beyoncé and the iconic street sign indicating the distance to the installation.

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"When the global COVID-19 pandemic began and digital channels became, in many cases, the only way to engage with consumers, Prada recognized the need to enhance and scale its digital-first strategy. This was critical both to support exponential growth in online sales, but also to enable the company to reach and engage its customers and social communities." (Lang, 2022)

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Lang, K. (n.d.). Sprinklr BrandVoice: The Prada Story: Ensuring The Brand’s Future By Creating Unified Customer Experiences. [online] Forbes. Available at: https://www.forbes.com/sites/sprinklr/2022/01/21/the-prada-story-ensuring-the-brands-future-by-creating-unified-customer-experiences/.

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Stainless steel insulated water bottle, 350 ml

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Free shipping in 2-3 business days from order confirmation. Shipping status can be verified at any time by using the tracking number provided via e-mail. You can also access this information within MyAccount. You may return the products purchased within 14 days of delivery free of charge using the return label provided with your order.

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Prada Group (2018). Group Profile. [online] PradaGroup. Available at: https://www.pradagroup.com/en/group/group-profile.html.

Prada. (2019). Prada. [online] Available at: https://www.prada.com/gb/en.html?utm_campaign=GoogleSearch_UK&utm_medium=CPC&utm_source=Google&utm_content=Pure_Brand_Exact&s_kwcid=AL.

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https://www.voguebusiness.com/technology/snapchat-boosts-ar-try-on-tools-farfetch-prada-dive-in

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Prada: Brand value 2022 | Statista

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Bhasin, 2019, Marketing mix of Prada - 4 P's of Prada marketing mix (marketing91.com)

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Shastry, 2021, Comprehensive Marketing Mix Of Prada - 2023 Update | IIDE

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Prices are from Prada official website, 2023, Prada UK Official Website | Thinking fashion since 1913 | PRADA

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Visit PRADA's official website and browse online our collection of designer clothing, shoes and accessories for men and women. Shop now in the UK.