Business Studies Project on Marketing Management

Session 2019-20

Name
Roll No

Index
Introduction

Why I selected this product

My competitions

PRADA

SWOT analysis

Tommy Hilfigier

Swot Analysis

Gucci

Swot Analysis

Louis villion

Swot

MY Product

USP of my product

Features

Branding

Pricing

Distribution channel

Production

Cost effective techniques

Social message
Bibliography

Acknowledgement

I would like to express my thanks of gratitude to my teacher

________ who gave me the golden opportunity to do
this wonderful project on the topic which helped me in doing
a lot of research and gaining knowledge and I really
thankful to my parents and friends who helped me a lot in
completion of this project.
Objective of this Project

Marketing Management is concerned with all those activities which are essential to
determine and satisfy the needs of customers so as to achieve the objectives of
business. Thus, the prime objective of marketing management is to achieve the
objectives of the business.

The major objectives of marketing are as follows:

1. To satisfy the customers: The marketing manager must scientifically study the
demands of customers before offering them any goods or services. Selling the
goods or services is not that important, as the satisfaction of the customer’s needs.

2. To increase profits for the growth of the business: The marketing department is
the only department which generates revenue for the business. Sufficient profits
must be earned as a result of sale of want-satisfying products.

3.To generate customer base for the business: The Marketing manager must attract
more and more customers to buy the firm’s products and services. This will also
result into increased sales.
4. To determine marketing-mix that will satisfy the needs of the customers.
Product, pricing, promotion and physical distribution should be so planned as to
meet the requirements of different kinds of customers.

5. To increase the quality of life of people: Marketing Management attempts to

increase the quality of life of the people by providing them better products at
reasonable prices.

6 To create good image: To build up the public image of firm over a period is
another objective of marketing. The marketing department provides quality
products to customers at reasonable prices and thus creates its impact on the
customers. The marketing manager attempts to increase the goodwill of its
business by initiating image building activities. If a firm enjoys goodwill in a
market, it will increase the morale of its sales-force.

So objective of this project is to study these activities involved in launching a

product.

Introduction
• Marketing management is the organizational discipline
which focuses on the practical application of marketing
orientation, techniques and methods inside enterprises and
organizations and on the management of a firm's marketing
resources and activities.

3. • Marketing refers to performance of business activities

that direct and regulate the flow of goods and services from
the point of production to the consumers. • Market refers to a
place (not necessarily physical boundaries) where the
exchange of goods and services take place for a monetary
value.
Why have I selected this product?

. Today’s handbags come in all shapes, sizes, and forms. And whether it’s to
complete an outfit or to simply hold one’s things, they provide value - functional

and aesthetic - to their wearers. But what if another ability could be added to the

handbag’s value set, an unfulfilled one that solves size problems and enhances
personalization for its wearer?

For most potential Ladies customers, thinking about handbag is like something
they can’t forget to take with them while going out. So, if you want to sell a product
where you don’t need to work hard to convince the customers of its awesomeness,
handbag is the perfect choice. Also, its target customer is clear and no complexity
in choosing the areas where one have to advertise regarding the product.

So considering all these points I think It’s a great product to launch.

My competitions:

1. PRADA
Prada S.p.A. is an Italian luxury fashion house, specializing in leather handbags, travel
accessories, shoes, ready-to-wear, perfumes and other fashion accessories, founded in 1913
by Mario Prada.

Mario Prada did not believe that women should have a role in business, and so he prevented female
family members from entering his company. Ironically, Mario's son harbored no interest in the
business, so it was his daughter Luisa Prada who took the helm of Prada as his successor, and ran
it for almost twenty years. Her own daughter, Miuccia Prada, joined the company in 1970, eventually
taking over for her mother in 1978.

SWOT analysis
Prada is one of the leading brands in the lifestyle and retail sector. The table below also lists the top
Prada competitors and elaborates Prada segmentation, targeting, positioning & USP.
Below is the Strengths, Weaknesses, Opportunities & Threats
(SWOT) Analysis of Prada. Strengths are:
Strengths:

1. Prada is one of the most etablished luxury fashion houses worldwide

2. Prada products are known for its quality and unique designs

3. Has a strong association of luxury and premium attached to it

4. The brand has a strong presence in and around the world

5. Good advertising and branding through print ads, online ads etc
make Prada a very popular brand name

6. More than 12000 people are employed with the organization

7. Strong legacy of the brand Prada since its inception in 1913

8. Prada is actively involved through shows, boutiques and also makes

perfumes, premium watches etc

Weaknesses:
Here are the weaknesses in the Prada SWOT Analysis:

1. The brand has severe competition and hence there is high brand switching

2. Fake imitation of Prada products affects the brand image and its business

Following are the Opportunities in Prada SWOT Analysis:

Opportunities:
1. Entrance in emerging markets can be tapped by Prada
2. Capitalising the digital medium to increase its reach where it is not available

3. Tie-up with fashion houses through partnerships to increase awareness

4. Prada can collaborate with leading hotel chains, elite clubs etc whether rich
people could become customers

Threats:
The threats in the SWOT Analysis of Prada are as mentioned:

1. Intense Competition in luxury fashion can lead to decline in Prada'sbusiness

2. Easily available substitutes can reduce profit margins

3. Change in economy which may reduce the dependence on luxury fashion

4. Being a global brand, its business is subject to recession, economic conditions

etc.

2. Tommy Hilfiger
Tommy Hilfiger, formerly known as Tommy Hilfiger Corporation and
Tommy Hilfiger Inc., is an American premium clothing company,
manufacturing apparel, footwear, accessories, fragrances and home
furnishings. The company was founded in 1985, and today is sold in
department stores and over 1400 free-standing retail stores in 90
countries.

SWOT Analysis
Tommy Hilfiger is one of the leading brands in the lifestyle and retail sector. The table below also
lists the top Tommy Hilfiger competitors and elaborates Tommy Hilfiger segmentation, targeting,
positioning & USP.

Tommy Hilfiger SWOT Analysis

Below is the Strengths, Weaknesses, Opportunities & Threats
(SWOT) Analysis of Tommy Hilfiger.
Strengths :

1. Strong Recognition being a Global Brand

2. Strong distribution Network globally

3. Presence in more than 90 countries and more than 1000 retail stores in North
America, Europe, Central and South America and Asia Pacific.

4. Cool, American Style designs by reputed designer Tommy Hilfiger

5. Associations and promotion from popular celebrities

6. Advertising and brand visibility is very popular

Weaknesses
Here are the weaknesses in the Tommy Hilfiger SWOT Analysis:

1.Segment has huge competition from established brands hence brand switching
is high

2.Brand Protection and Maintenance Costs are high

Opportunities
Following are the Opportunities in Tommy Hilfiger SWOT Analysis:
1.Innovation in apparels

2.Expansion of product line and Services

3.Increasing amount of disposable income in emerging economies

Threats
The threats in the SWOT Analysis of Tommy Hilfiger are as mentioned:

1.Intense Competition from international brands

2.Economic slowdown which will cause reduction in demand for premium priced
products

3. Constantly changing fashion trends means inventory issues.

3. Gucci
Gucci is an Italian luxury brand of fashion and leather goods. Gucci was founded
by Guccio Gucci in Florence, Tuscany, in 1921. Gucci generated about €4.2 billion
in revenue worldwide in 2008 according to BusinessWeek and climbed to 41st
position in the magazine's annual 2009 "Top Global 100 Brands" chart created by
Interbrand; Gucci is also the highest-selling Italian brand. Gucci operates about
278 directly operated stores worldwide as of September 2009, and it wholesales
its products through franchisees and upscale department stores.

Gucci SWOT Analysis

Strengths

Strengths are:

1. Gucci has a strong Brand Image and brand equity

2. Gucci controls its distribution Channels effectively

3. Strong chain value with suppliers and retailers

4. There are more than 250 directly operated stores of Gucci

5. Has a huge product portfolio like apparel, clothing, wallets, watches etc

6. Gucci has partnered with UNICEF as a part of CSR initiative

7. Associations with automobile companies like Ford, General Motors, Fiat added brand value

8. Excellent advertising and marketing has made Gucci a top of the mind fashion brand

Weaknesses
Here are the weaknesses in the Gucci SWOT Analysis:

1.Has to invest huge money in order to protect and maintain its brand image

2.Gucci has to face losses because of cheap fake imitations of the brand worldwide

Opportunities
Following are the Opportunities in Gucci SWOT Analysis:

1. Gucci can tap emerging luxury markets in emerging economies like India and China

2. Creating competitive advantage in different business segments can be an opportunity for Gucci

3. To target the youth segment which stylish designs

Threats
The threats in the SWOT Analysis of Gucci are as mentioned:

1. Extremely competitive segment means limited market share growth for Gucci

2. Product substitution is easily available

3. Being a global brand, it is vulnerable to global price fluctuations, recession etc

4.Louis Vuitton
Louis Vuitton Malletier, commonly referred to as Louis Vuitton or shortened
to LV, is a French fashion house and luxury retail company founded in 1854
by Louis Vuitton. The label's LV monogram appears on most of its products,
ranging from luxury trunks and leather goods to ready-to-wear, shoes, watches,
jewelry, accessories, sunglasses and books. The 2013 valuation of the brand
was US$28.4 billion with revenue of US$9.4 billion.The company operates in 50
countries with more than 460 stores worldwide.

Louis Vuitton SWOT Analysis

Louis Vuitton. Strengths are:

1. Louis Vuitton is one of the oldest fashion houses with more than 150 years of
history

2. Louis Vuitton brand is easily recognizable because of its logo and monogram
canvas on most of its products

3. The brand has its presence in most of the large shopping hubs and multi-retail
brands of the world

4. The brand is available exclusively in more than 450 stores in 50+ countries

5. Louis Vuitton also makes custom tailored products for its few elite customers

6. The brand has a clientele including international celebrities

7. Extremely high brand recall and global presence

8. Advertising and marketing using celebrities like sports stars, film stars are
effective

Weaknesses
Here are the weaknesses in the Louis Vuitton SWOT Analysis:
1. Immense competition in the segment makes market share growth for Louis
Vuitton slow

2. Fake imitations affects brand reputation and hurt sales

Opportunities

1.The company needs to adopt the current fashion trends to stay in business

2. Louis Vuitton can engage customers online and increase business through
ecommerce platforms

3. Expansion of the brand into emerging economies targeting rich people with
affluent lifestyles

4. Tie-ups with leading hotel chains, fashion houses, lifestyle events etc can boost
business for Louis Vuitton

Threats
The threats in the SWOT Analysis of Louis Vuitton are as mentioned:

1. Fake products all around the world affects the business

2. Economic crisis and recession can adversely affect Louis Vuitton's business

3. Government policies on international trade can slowdown operations

4. Increasing competitor activity can lead to decline of sales for Louis Vuitton
Permission and license to make the product:

-Business license

-Tax identification number.

-Retail license

Our Products ,Its features and USP

Selling Price of competitors’ Product:
Social Message:
Cost Effective methods of promotion:

-We will go for conventional form of promotion print media and others
i.e.Newspapers, Television, Direct mail, Radio .

This will provide a direct promotion of the product in the desired demographic.

-Another cost effective and very powerful method we will use is promotion
through Internet.

Internet is very much needed advertisement media and it is economical too.

We can directly track the reach of our promotion campaign through internet and
hence it is goal and sale oriented.