Louis Vuitton has established itself as one of the most high-end brands in the fashion industry. Its product is similar to other high-end fashion brands such as Prada, Gucci, Celine, Fendi, and Hemes. Its success and ability to remain in the market is because of its effective marketing mix.

• Product: Louis Vuitton has successfully established its own unique identity in the market place where people know the “LV” brand as opposed to just simply another high-end brand. In his article “Marketing Principles of Louis Vutitton,” Shin’ya Nagasawa (2008) mentions that Louis Vuitton is known for its “adequate product quality”. “Adequate product quality” refers to having “fitness for use” and “conformance to requirement”, which means that the handbags are very easy to carry. Louis Vuitton has established itself as a handbag that has a unique quality that makes customers choose between Louis Vuitton or nothing when shopping for handbags.
• Price: Shin’ya Nagasawa (2008) states that general consumers demand goods that have lower prices. However, Louis Vuitton chooses to price itself in terms of value rather than price, which is why they choose to mark its products at a very high level. Value refers to the benefit consumers receive for what they give. Louis Vuitton offers customers high-value products through its quality and brand. Its high-price makes consumers feel that they are part of an exclusive society when they carry a Louis Vuitton bag. It is relates to conspicuous consumption.
• Place: Louis Vuitton chooses not to sell their products in department stores, and instead establishes individual high-end Louis Vuitton stores. Their decision to limit its distribution channel is done in order to make consumers feel that Louis Vuitton is such a valuable product as its stores few in number
• Promotion: Louis Vuitton advertisements mainly consist of celebrities. This is done in order to target the affective component of consumers’ attitudes by allowing them to feel a certain emotional connection. It gives consumers a social reference group that they are part of a group of celebrities.

References:

Nagasawa, S. (2008). Marketing Principles of Louis Vuitton. Waseda Business & Economic Studies 2008 No.4, 44, 41-54. Retrieved October 19, 2012, from http://dspace.wul.waseda.ac.jp/dspace/bitsStream/2065/33711/1/WasedaBusiness%26EconomicStudies_44_Nagasawa2.pdf