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INTRODUCTION
Gucci is one of the most powerful leaders in the fashion market. Dating back in the early 1920s when it was first launched, the Gucci brand has come a long way by establishing an individual and easily identifiable label, which dominates the worldwide market. In fact, the globalisation of the fashion environment and the boost in Western economies has assisted in transforming Gucci from a small Italian enterprise into a large conglomerate operating in a global level. ... Tom Ford, the current designer for Gucci has managed to further ascertain the company’s leading status and maintain customer loyalty. The following essay will make an attempt to explore the marketing strategy employed by this particular brand, to discuss the ways in which the brand relates to the target customer, and to identify the threats which are potentially being faced.
GUCCI MARKETING STRATEGY
As cultural and social circumstances influence fashion to a great extent, the fashion industry is a very demanding field, which requires careful planning in its marketing strategy, as trends tend to change every season. Easey (1995, p209) defines marketing strategy as “a specification of those markets that the firm wishes to target with marketing activities and how competitive advantages are to be created and achieved”. Additionally, (ibid, p201), he suggests that the Ansoff matrix can be a useful tool in the development of marketing strategy (Appendix 1). The application of this model to the Gucci Company demonstrates that, since the resources are extremely high and market consolidation has already been achieved, new market penetration and diversification are relatively undemanding. Gucci has successfully entered the fragrance and eyewear market, with impressive results. All fashion brands have specific marketing strategies such as glamorous fashion shows, or advertising, especially in the print media. ...
To increase market share
To increase expenditure by existing customers
To increase store traffic
To increase sales of specific products
To create brand awareness
To reassure customers
To launch a new product
To generate enthusiasm from channel members
To encourage customers to trade up from one garment or service to a more expensive one
To reinforce the corporate identity
Gucci also adheres to such conventional methods, which have proven to be particularly effective, in order to achieve all the above objectives. The advertising campaigns with a Gucci signature employ attractive models promoting its merchandise and are usually revolutionary in their concept. The Gucci fashion shows are always carefully planned, ultimately turning out to be fascinating and memorable events. ... The fact that top celebrity models feature in these shows in combination with the Gucci name, the shows always receive large media coverage, by being commented in either print or electronic media.
Approximate Word count = 2132
Approximate Pages = 8.5
(250 words per page double spaced)
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