Retailers have different methods of marketing; it is all down to their social class. Premium retailers market their products very differently to high street retailers. Although in some ways the marketing is similar.
Louis Vuitton is a great example of a premium retailer. It is very important to market products professionally and in a high class, elegant way. Louis Vuitton have fashion shows once every season to express their collection for the season. Famous people and rich people go to these fashion shows; it is really expensive to attend because only limited people can go. This makes Louis Vuitton desirable and unreachable to the public. Louis Vuitton do not sell any of their branded products in department stores. They feel that they have the best possible options to sell their products in their own stores, as their salespersons are highly professional with a keen mindset to tackle the customers in an intimate, warm and welcoming environment. Doing this gives Louis Vuitton more attention- this is a good marketing strategy. this marketing strategy helps in the reduction of intermediary costs that other brands face
while selling through long channels of distribution.A Louis Vuitton product is a style statement and the customer is more than happy to pay the exorbitant prices. The perceived value of Louis Vuitton is very high, so in the case of Louis Vuitton products the consumers feel that they are receiving the value even though the price paid is extremely high. Louis Vuitton has employed a promotional strategy for its products with help of celebrity endorsements. Famous actors like Kate Moss, Scarlett Johansson and Uma Thurman have been associated with the brand as its ambassadors to market their products. Some people admire these celebrities and using these talented actors as their ambassadors will encourage fans of these actors to buy the products too.
Ways Different Retailers connect with their target audiences.
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