Gucci represents the best of Made in Italy with its distinctive combination of richness, high artistry and contemporary glamour. Today, the House’s commitment to excellence continues under the vision of Creative Director Friday Gaining, who has enriched its legacy with an exacting offering of handbags, shoes, and critically acclaimed fashion collections, as well as children’s clothing, small leather goods, jewelry, fragrances, and other timeless lifestyle items, As Gucci readies tort the next inner years, the House looks to the next level of corporate responsibility.
From sustainability to philanthropy, Gucci is committed to its role in the global community. It voluntarily obtained ASSAYS certifications that seek to regressively reduce its environmental footprint and is also actively involved in philanthropic initiatives that support both women’s rights and arts preservation. Gucci also collaborates with the Kerning Corporate Foundation to combat violence against women. Market Evaluation Louis Button has captured the high-end market Of fashion industry followed by Hermes and Gucci, according to the 2013 survey.
All these brands are known for their exclusivity but due to the reason that Louis Button never goes on sale thus maintaining its reputation. It is at the top. Hermes has sales but only on ewe small items and Gucci has Wide range Of sales in summer and winter season. Louis Button and Hermes uses similar tactics as Gucci, they have a pretty good pricing strategy, which consists on high markups and limited availability. This causes consumers to buy this product quickly, and it definitely benefits the company.
Other competitors are Memoriam Airman, Hugo Boss, Pravda and Effendi, Dolce and Ghana, Giorgio Airman, Versa. Distinction Louis Button Hermes Gucci Bag. Price of handbags 1 to IEEE KICK to SHOE IEEE to IEEE Quality or material Coated canvas with cowhide leather Lizard, crocodile leather Rubber, high quality leather Sales 9. 21 billion $ 4. 66 billions 3. 1 billion$ Specialize in Luggage Women handbags and belts Bags, shoes and luggage Targeted age 21 -45 21-35 Gucci is highly flexible brand it changes its product according to the consumer needs and changing fashion.
With the spring season Gucci has introduced a floral trend with the flower printed products so it goes on with the seashore It is necessary for the brand to convey a personality that the customer can relate to, or Wishes to aspire to. Gucci rely on the imagery of their products to appeal to the high-end market. The prestigious pricing of their products creates a high laity image and positions the goods in the mind Of the consumer as a Status symbol.
The success of Gucci can be attributed to quality observing, brand image, retail environment, management Structure, yet above all their ability to combine these factors to create an exclusive experience. The trend for AN/ 14/15 would be leather as it has always been in throughout the fashion season. It has its own distinctive quality. It has been one of the main materials used by Gucci in production of products. As Gucci excels in leather products it will be the best suited trend for the A/W 14/15 season, Consumer profiling
The new target of consumers would be middle age high class from 21 – 50 years, stylish, elegant high social status, high income, independent or married that look for goods that will enhance all of these aspects and reinforce their social status through the product that proves to have a strong heritage and offers quality and exclusivity group. Gucci has always shown interest in this sector though it has its exclusivity in children wear as well. Customer relationships: Interests and Lifestyle: Politics, fashion, art, design, sports and travel. Their lifestyle is full of trips, parties and special events.
They generally hue a taste in usury life style and living. Competitive Analysis Alexander Macaque holds a remarkable place in manufacturing a leather product. It produces one of the best quality jacket in the industry thus overtake Gucci in this item. Both brands produces high quality products holds a good position in the market. Brand Product p rice Information Paul smith 999 E 100% lambskin, Trim 66%volt silk least Barberry porous 2,SEE 100% lamb leather Quilted lining Alexander Macaque 2,IEEE Pure leather Ribbed cotton collar, cuffs and hem Airman Collection 1. EYE Pure lamb leather Just Cavil IEEE Silver toned embossed poppers Falstaff 1 , OHIO Notched lapels Canals 2,KICK Deer leather Mash cotton Given 2,IEEE Pure calfskin shoulder panels Pure lambskin Neil Barrett 2,IEEE Elasticized cuff and hem Black leather Knitted high green/red/green collar Competitor positioning grid This is where Gucci could be positioned on a perceptual map. It is almost at center towards the prestige price and mass market.
The price is not as low as guess but at the same point it is not even as high as Hermes. This perpetual map has pointed Gucci where it will best be located and looking around If the prices are kept really low in comparison to other brands it will not have much competitions. Products Leather jacket Specifications Black washed nap leather Bomber lining Price 1 ,SHOES Leather shoes Leather upper Leather sole with a side zip and interlocking g logo IEEE Grey/Wallach G supervene canvas, with black leather trim 1.
In leather jacket adding green/red/green stripes on the shoulders, G embossed on the back and cotton rib cuff would make it more attractive to the middle aged consumers as it seeks more attention, a little increase in price would add to its exclusivity. 2 Changing the chain on the other side in these shoes with the interlocking G logo knitted structure and decrease in price would appeal to ore Customers and gives a decent look to it. 3.
Increasing the size of the bag to a cabin size and adding two more wheels thus making it more comfortable and easier to carry would be a lot accessible to more people and advertising would help in increasing the demand. Steps for a product development 1. Generating Utilizing basic internal and external SOOT analyses, as well as current marketing trends, one can generate a basic idea for the development. 2. Screening The Idea “Prescribing product ideas,” means taking your Top 3 competitors’ new innovations into account, how much market share they’re holding and what infinite end consumers could expect etc.
Example: Aviation industrialists will often compare growth with metals markets 3. Testing the concept The hypothetical idea in mind is tested an approved for the next step. 4. Technicalities or product development The marketing department will make plans to distribute the product. The finance department will provide the finance for introducing the new product. 5. Commercialism At this stage, the new product developments have gone mainstream, consumers are purchasing your good or service, and technical support is consistently monitoring progress.
