This brand is very popular for selling high end products to customers. At most times the costumers are very satisfied with the products they buy from this brand; and this is a good thing because, it is most likely that the costumers will keep on coming.

New products are developed at the right times, also they keep their trend on track. Materials that are used to make the products are fantastic and they get them from good suppliers. 

Weaknesses 

Their products are very expensive, so not everyone would be able to afford it.

There are better and higher brands that are very competitive and better in some areas: financially, and the research + development category. 

Opportunities 

Lower shipping prices can bring down the cost of their products. They are receiving new costumers from online platform. Online platforms are easier way to look at different shops and brands and just makes the whole experience much better and comfortable. 

Threats

Counterfeiting could be one of the biggest threats for luxury products, it can bring a bad image upon the brand and many more consequences. Additionally, there a lot of competitors such as: 'Hermes' and Gucci etc; and quite frankly there always going to be competition between them as there are such luxurious brands. 

Also as mentioned before, there should be more advertisement seen from this brand, even showing some of their clothes they sell advertised in the highstreets walls etc could be very helpful. Finally, they are able to work with other popular brands such as: ASOS and that has increased their popularity and costumers. 

As mentioned previously, the prices tend to be a little high because of the detailing added; and they do this usually to most of the clothes they sell. Accessories such as: hats and jewels, are usually on the lower prices, as they aren’t too hard to produce. Additionally, the prices for jeans are not too bad either; they are usually from £30 to £55. Comparable to skirts. Skirts are also on the affordable side; the prices for them are usually between £22- £48.     

River Island stores are usually seen and placed in the centre of Highstreets or a public shopping area. Additionally, they do have an online website that both: ASOS and Nelly.com brands are added on there. Lastly, they have around 350 stores across UK, Ireland, Asia, Europe and Middle east. 

I have seen some type of promotion from River island on social media, they do have their own page where they promote their fashion and so on; It has been stated that they do also work with bloggers too, as it helped them build a wider audience. 

As mentioned before, the prices for these products are very high usually due to the quality, material and design of the product. Their costumers know that the products are very pricey, however they are willing to pay any amount due to knowing how well the products are made. With the help of premium pricing and knowing who their target market is, Louis Vuitton follows those guidelines when it comes to pricing.

It has been stated that they have around 300 stores and more, they have their own online store as well; however, shopping in one of their stores is far better than the website. 
Workers who work at these stores are specially trained to give the best customer care service they could give; they treat their customer with care and give them the maximum attention they need.

 The louis Vuitton brand is very independent, they are not too keen on their products being sold at other ‘departmental stores’.
 
Louis Vuitton products are advertised by big celebrities, usually on social media, as that is becoming popular and it connects people together. The one source that they do not commonly use to advertise products is probably; on ‘tv’ due to the company wanting certain people to see their brand/ products. It has been stated that Louis Vuitton also employs celebrities that are known around the word to help them advertise their products. As we know, their products are very luxurious, and they think the best people they can work with to help their costumer figure go up is by working with celebrities and connecting with them. Also, their advertisement is also seen in well-known magazines that are popularly read and filled with well-known and successful people. 

Also, when there are too many shops at one place, and one particular shop is especially not as exciting or does not sell things that can be appealing to people, many might avoid going to that shop and rather find something much more exciting and that suits them better. 

Another negative occurrence that has taken place in many of these high-street shops is depts., many shops have unfortunately so many debts to pay and it will be difficult for retailers to keep their shops with such a big problem on hand.  

We all know that the Louis Vuitton brand itself is a very popular and well know brand globally, and I think building an hotel represented by them will increase their popularity even more. Louis Vuitton luxe hotel offers an outstanding luxurious experience. From champagne bottles at the entrance to your personal jacuzzi in your suite. After a long day shopping, this is a great place to stay and relax. One of the top reasons why this hotel stands out from other competitors is because there are a lot of amazing discounts offers that will immediately attract you to this hotel e.g.; for first timers we will be offering 50% off the full price for your whole stay and there are many more offers. We know that our brand is not cheap but we want to give back to all our customers and new costumers, we want everyone to enjoy this wonderful experience at least once. 

How are costumers currently interacting with the brand:

Costumers show their support and love for the brand by promoting on social media, for example, the celebrities love to show off the products that they buy from this brand and share it with their fans and supporters. Additionally, they have an online website in where you can contact the costumers service and ask, any additional question you may have. 

`How does the brand promote their products:

Louis Vuitton is already known to sell good quality products and they are confident in that, so they use their value-based pricing in their marketing mix for the products.  Costumers know that the products the brand delivers are high value products and they are all willing to pay the amount because they also believe and have confidence that what is being sold to them are good valuable products. 

What impact do you want costumers to have with the brand?

Louis Vuitton is in the process of making all their products from raw materials and eco-friendly, this is a very important process because they want everyone to feel comfortable and certainly, they do not want to harm the environment. Their aim is to please costumers as much as they can.

What are their main challenges? 

The obvious challenges that this brand is facing are competitors; Louis Vuitton is always trying to stay on top by pleasing costumers and producing good quality products and much more; but of course, there is always going to be another brand trying to take the lead and be better; However, Louis Vuitton are trying to get on the top at most times. 

Additionally, they find it difficult to keep up with multinational business and deals with other countries as they have different price points. 

PROPOSED IDEA DEVELOPED: My extension brand: Louis Vuitton luxe hotel

How will costumers interact with the brand?

For this brand we want to start an Instagram account in which everyone can interact with this brand, I know that it is hard to interact with the Louis Vuitton brand team etc, but we want to make things much easier for the costumers and get has many positive responses from them. We want to answer all the question costumers may have as soon as possible; and the reason we are choosing Instagram is because it has been stated to be one of the most used social media platforms around the world.

How does the brand promote their products?

Again, we want to use social media platforms to promote our brand as much as we can, so we can get people engaged and they can see what we are offering to our customers. Also, a website will be made to book rooms etc and a website will be another way costumer will be able to contact our customer service team. 

What impact do you want costumers to have with the brand?

Like the louis Vuitton brand, we want to give and sell our customers an eco-friendly experience and environment to stay in, most of the bedding are going to be made with raw materials etc. 

What are their main challenges? 

Right now, we are not focusing on the challenges, but something we need to be aware of is making sure we locate the hotel in places where is accessible for everyone; location will definitely be something we need to look into. 

Fashion marketing and consumers:

Brands and companies use a number of different strategies to promote their brand etc e.g.; Digital marketing, is one of the newest best upcoming ways to promote their brand, technology has come a long way, people are interacting with social platforms much more and, companies have taken that as a advantage and it has definitely helped their brand spread globally in a much easier way. Transactional marketing is also another effective strategy that companies use to attract customers, this is when businesses promise costumers and encourage them to buy their products and services by offering discounts, coupons etc. I think that this is a very good way to attract customers because everyone loves a good discount and offers, it saves money!                                                                             Event marketing is also another easy strategy that companies use, this involves face to face or in person interaction events that some companies do, it is effective because ‘it turns customers into active participants in the campaign’, and I think this is a very good strategy because customers will be able to understand the brand better, and companies will be able to sell and persuade participants easily in person.

These are some of the notes I did for my presentation, I made sure to write information that would be beneficial for my boards. This step definitely made it a lot easier for me to see a mock-up of how I wanted my boards to look like. 

My presentation went okay, there were some information I did miss and should I’ve made it clearer and some additional information I was made aware that needed to be added in the research; Additionally, I need to investigate the way that luxury/ premium brands operate and how they maintain their premium values and some more information to support my idea. 

Brands and companies use a number of different strategies to promote their brand etc e.g.; Digital marketing, is one of the newest best upcoming ways to promote their brand, technology has come a long way, people are interacting with social platforms much more and, companies have taken that as a advantage and it has definitely helped their brand spread globally in a much easier way. Transactional marketing is also another effective strategy that companies use to attract customers, this is when businesses promise costumers and encourage them to buy their products and services by offering discounts, coupons etc. I think that this is a very good way to attract customers because everyone loves a good discount and offers, it saves money!                                                                             Event marketing is also another easy strategy that companies use, this involves face to face or in person interaction events that some companies do, it is effective because ‘it turns customers into active participants in the campaign’, and I think this is a very good strategy because customers will be able to understand the brand better, and companies will be able to sell and persuade participants easily in person.

It is possible that some might think doing the 50% off offer might de-value the brand; However, who doesn’t like a good offer like that, even though some might not need it, is still a good option to give costumers. The hotel is still going to be a little bit on the higher price but still affordable for a lot of people. On the other hand, we are considering to present the 50% off including other offers, every term (or seasonal).                                                                                                                                                    What is the difference between Luxury and premium?

Luxury is for the group of people who do not care about price, but mostly care about having the finer things in their life; additionally, it makes them feel superior and proud with what they have. Premium is for the group of people, who can ‘push themselves to pay more than what they might pay for a normal average product.

What is a premium strategy?                             A premium strategy is making a certain price of product higher. 

To maintain premium values, companies make sure to highlight and identify features that are seen as high end and they include those factors in their marketing, the outlook of the store (décor) and finally the dress code of employees. Most Importantly, they explain why it is worth spending extra money to costumers. 

Luxury brands, do not believe on forcing people to buy the products, however, they want the costumers to believe in their brand. Also, the stores are a very important aspect to the brand, so paying attention to where costumers purchase products is very important too. Communication is crucial and some companies invite selected costumers to experience what their brand is all about etc. this is a good tactic. I could also use this tactic, and that might prevent my brand from being de-valued. I could start a club in where selected people can experience the hotel as a retreat or I could think of a different tactic; the most important thing is that I do not want to leave anyone out but want to give everyone the opportunity to stay in this hotel without de-valuing the brand.