Positing is how you give your product or service brand identification (Boaze . S). Legendary marketing authors Ai Rise and Jack Trout said that, “A product or service that tries to appeal to everyone winds up appealing to no one”. In their book, ”Positioning: The Battle for your”, Mind, AI Rises and Jack Trout think that positioning is used as a communication tool to reach target customers in a crowed marketplace. Therefore, clearly we can see that positioning is one of the important parts of the whole marketing strategy. So after we knew that positioning is very important of a company, then we should started to understand what positioning its actually doing.
• Price of the products/services.
➢ You could monitor the market to adjust the price of your products
• What kind of products you provide
➢ You could provide more different products than the competition, or you could offer fewer products in order to specialize your company in certain types of consulting.
• Geographic location
➢ Set up your company towards your target customers or the anywhere you choose to offer your products/services.
• Quality of the products/services
➢ What credentials and experience do you provide to the customers
• What kind of customers you are targeting
➢ Define target market for your products/services
All these five steps were very useful while setting your positioning strategies. Especially for a large world known company. Therefore how to complete these five steps were a big task for them. As a world known luxury brand, Louis Vuitton have put a lot of efforts in setting up their marketing positioning strategy and therefore they have really done a very great job in completing these five tasks.
1. Price of the products/services Generally customers would more likely to buy a "lower prices product". And actually companies can only achieve that by reducing costs and off-shoring production to developing countries and. However, Louis Vuitton are much different with the general, on the other hand, are priced high. Actually there are two main reasons for them to do that. First, they wanted to keep their products “luxury” in order to maintain their brand image. Second, It states that Louis Vuitton bags have a high trade-in price, and are equivalent to money. They keep setting the priced their products sky-high because they wanted to show that the prices of their goods will not collapse even when they are being recycle. If Louis Vuitton did not priced their products sky-high, then customers may easily slip it away to other stores. And it would appear as if some customers first size up the product at an officially sanctioned store and trade-in price at a recycle shop.
2. What kind of products you provide As a worldwide luxury brand, Louis Vuitton provides famous luxury goods. High quality travel trunks, leather accessories, handbags, high fashion, travel books, perfumes, distilled spirits and designer shoes, clothing etc. They provided many different kinds of products, however, there are one practically issue that does not change. On every single product of them, designer luggage pattern, a beige monogram, LV must appear on them so people will easily know that the products are designed from them.
3. Geographic location
In order to become a worldwide company, creating a" broad distribution channels", not only selling their products through limited distribution channels is the only way to achieve that. Therefore, Louis Vuitton trying to open many stores over the world and even selling through Internet. Actually Louis Vuitton had opened their sores in more than 20 different locations, beside they also set up many flagship stores as well. Beside you