Louis Vuitton

Louis Vuitton is a French fashion house founded in 1854. The label is well known for its LV monogram, which is featured on most products, ranging from luxury trunks and leather goods to ready-to-wear, shoes, watches, jewelery, accessories, sunglasses, and books. Louis Vuitton is one of the world's leading international fashion houses.

If there's one thing I wish to own right now, it would definitely be a Louis Vuitton Keepall 45 Monogram Macassar. This ever popular iconic Louis Vuitton design is ideal for the busy style-conscious man. Its roomy size and adjustable shoulder strap are perfect features for work, leisure or travel. It's posh and very classy. It will never go out of style. Plus, did I say it's LV? If I win the lottery I can surely afford to buy my own LV shop. But right now, I'm just a rank & file employee and a student at the same time so obviously I can't even afford to buy an LV keychain, not even an LV hanky. Ok, I'll stop day-dreaming now and will just be happy with my ever reliable jansport backpack. (when will Iever have my very own LV bag?)

Here's a product analysis with the 4 P's for Louis Vuitton:

PLACE: Obviously you'll only see LV Shops in the posh cities around the world and mind you, that includes Manila. Level3, Greenbelt 5, Ayala Center Makati City is the place to be. Its only available in Specialty stores and in Manila there is only 1 LV Specialty store.

PEOPLE: Fashion-forward/conscious/lover/slave rich professionals are the only ones who can afford to buy this high-end brand. Did I say rich? I mean filthy rich. Unfortunately, no ordinary Juan dela Cruz can afford to buy this brand.

PRODUCT: LV has many product lines. For men and women, they have it all. From fashionable posh bags to luxury trunks and leather goods. They also have ready-to-wear clothes, gowns, tuxedos, shoes, watches, jewelery, accessories, sunglasses, and even books. What more can we ask for, LV has it all

PRICE: It's a hybrid between Skimming and Cost Plus Pricing. It's not fully Skimming because no matter what happens, the price of the product will stay the same and will never ever go down (how I wish they'll have a one day sale or just a 5 minute sale, I'm willing to spend all my savings just for my LV Keepall 45 Monogram Macassar). Its partly skimming because the firm charge a high price to begin with (and will always be expensive) which helps to make the product desirable (so desirable). It can also be considered Cost Plus Pricing because it adds up the cost of the raw materials and labor that have gone into making the product (plus the overly expensive brand name) to determine its cost. Then add on an element of profit over and above the cost mark up. A basic monogram bag will cost around Php 45,000-60,000

PROMOTION: for a brand like Louis Vuitton, there's really no need to advertise the product (especially for die-hard wannabe like me). But you'll see their billboard in different posh cosmopolitan cities around the world and their Print Ads on leading major posh magazines like Vogue,V and Elle (I've been using "posh" quite a lot on this blog). Their endorsers include top-notch Hollywood celebrities, singers, supermodels, athletes and even Politicians. They've recently launched their first ever TV commercial which lasted for 90 seconds and was translated into 13 languages. It was directed by renowned French director Bruno Aveillan. The commercial used the theme "Where will life take you?". It was absolutely bloody fantastic. One of the best TV commercial ads I've seen.