Gucci’s Closest Competitor

CRITICALLY CONTRAST THE pigment ELEMENT OF GUCCIS MARKETING STRATEGY TO ITS CLOSEST COMPETITOR. JUSTIFY WHY YOU HAVE CHOSEN THIS guild AS GUCCIS CLOSEST COMPETITORS Gucci is one of the most powerful leaders in luxury manner market. Gucci is founded by Guccio Gucci in 1921 in Florence, Italy. Now, Gucci is the part of Gucci Group and Pinault Printemps Recl break through and throughe (PPR). The globalization of the behavior environment and boost in the western economies transform Gucci from a sm each Italian company in to large luxury fashion home run in global level.In 1980s, Gucci had lost its appeal and became a tacky commemorate and was in like manner in deep financial crisis. But Tom cut through raised Gucci from dead and found out the companys leading status and maintains their customer loyalty. He created Guccis two-baser as sleek, sexy, and daring. And, Frida Giannini the parvenu creative director of Gucci after Tom Ford changed the image of Gucci from sexy to sensual ity. There atomic number 18 dickens sides to a brand like Gucci the glamorous, real fashionable side only when as well as with its roots and heritage of 90yrs history and artisans working for Gucci. (Frida Giannini , The Times, sept 5, 2009)For the Guccis rebirth trade mix plays a vital role. The concept of 4Ps or the merchandise mix is to explain the relationship of crossroad, price, promotion and place with in the brand/business. The marketing mix is set of marketing tools that the firm uses to pursue its marketing objectives in the target market. So, this theory proposes that all brands/business need the proficient product, sell that product at right price, in the right place, utilise the most suitable promotion. Basically brands use this concept to attract their target consumer to match their needs and demands. let out of these 4Ps product is main focused bea of marketing mix because the product is combination of tangible and intangible offer that a brand sells to c ustomer to make money. Product addresses the need of consumer. The product has to shoot the right features like it must look good and work well. When well designed, good-quality product is at the root of the marketing campaign it often adds a degree of authenticity and sincerity to the marketing strategy. (Gary Aspden Adidas) For example consumer needs to sum up in with the peer group and the problem of how best to do this is solved by wearing feature brands trendy product. Mastering Fashion Marketing, Tim Jackson, 2008). As mentioned earlier that product is the main divisor of the marketing mix and in that product category footwear is the main focused area. Shoes are always the most important thing because they are who you are. They change the way you walk, the way you move. Tom Ford The market for the footwear category is United Kingdom. The causal agency behind choosing this market is that the United Kingdom footwear market, the value of this market is reached a record high of over ? bn in 2008. The UK is one of Europes leading footwear markets, accounting for nearly 19% of the European footwear sales. PRODUCTSGUCCIPRADACHANELLouis Vuitton Womens wear mens wear Shoes Hand Bags Jewellery Fragrance Watches Eye wear Beauty products X Hats Tie Scarves Based on the above mentioned table Guccis competitors are Prada, Chanel and Louis Vuitton. The reasons behind taking only these brands are these four brands are real popular in luxury market all over the world.So, through this table get the basic idea of the product wise comparison in these four brands. solely the four brands have almost similar products but the personality is different. Gucci is much more similar to Prada in footing of brand image and product comparison. The brand image of Gucci and Prada is actually seductive, powerful, accomplished, sexy and chic. Where as Chanel and Louis Vuitton have very smart, classic, sophisticated and mature personality. In terms of prices Gucci and Prada g o hand in hand art object Louis Vuitton and Chanel are quite a expensive as compare to Gucci and Prada.While analyze the brand value of these brands and the crop of Top 100 Brands Louis Vuitton stands on 17th rank with the brand value of $21,120millions, Gucci stands on 45th rank with the brand value of $3530 millions, Chanel stands on 60th rank with the brand value of $6040 millions and Prada stands on 91th rank with the brand value of $3530 millions. So, as comparing the brand value and rank of top 100 brands Chanel will be the circumferent competitor of Gucci. But, here the comparison is based on the product so, Prada will the Guccis closest competitor because as per the product line and brand image Prada is Guccis closest competitor.GucciPrada As, mentioned earlier in the product line Prada is the closest competitor of Gucci. Here, the images from Prada and Gucci mens footwear collection of Spring spend 2010. The design of the product is similar, shape of the garment is also similar, and material they used is also same. The cut token of the outside counter of the shoes is also similar. From the top view both the shoes look very similar The stitching detail is similar but Gucci gave dark color piping on the toenail cap and gave same color stitching where as Prada gave contrast color stitching detailing which is quite noticeable.The colors of these shoes are different Gucci used Bordeaux color in suede material which contains very dull look while Prada used same material in Red color which gives very bright and smart look. Prada also gave a logo on side of the shoe whereas Gucci gave super C, red and green color web stripe. The detailing on the tongue of the shoes is also different Gucci gave zig zig look on the edge which gave a rough look though its complete where Prada gave very finished look stitching which give very sophisticated look. The lining of the both the shoes are also similar in terms of color and leather in sole logo.The color of the sole is also similar but detailing is different Gucci gave their own brand logo detailing on the no-count sole where as Prada used nice detailing on drive sole. The price of Guccis shoes is $530 where as Prada shoes cost around $557. Good design and color and with affordable price Prada is rectify than Gucci in this comparison. Gucci Prada This advertize campaign is for Autumn Winter 2009/10 for Prada and Gucci for the footwear collection. In both the advertising campaign both the brand focused only on the product.Guccis products are very glassy and glamorous which represents very urban, beautiful, young and chic look. Where as Prada shoes are inspired by Trojan helmet/headgear which gives very stylish and cool look and more focus on product detailing. Gucci ( Guccis throw in give away window is very basic with perfume bottle shape with yellow dismount and hand bag shape with pink light and back drop is decorated with Gucci logo. In the display Gucci display bags and sh oes together. The ambience and the light effect give very rich look to Guccis display window.In the display window Gucci only displayed their basic and classic bag and shoes. Whereas Guccis image is very esthetical, sleek and sexy, but through this window display Gucci can not commence its brand image. But, the light effect, ambience and product complement each other. But this display does not Whereas Pradas window display is totally opposite to Guccis window display. Prada give more focus on their product in the display window. Prada used six silver mannequins to display their footwear and which gave very trendy look. unconstipated the color of footwear is very nice and eye catchy when it put on those silver mannequins.The attitude of the mannequins is also very nice, they displayed 3 mannequins in the right direction and rest of 3 mannequins they just overturn it so that the product can highlight more. And they used white lights for the display. So, through this window displa y Prada convey their brand image which very trendy, smart, sexy and sensuous. Thus, to conclude we can say that Prada is Guccis closest competitors. The reason behind this is Prada offer almost all the product which Gucci offers and the brand image of Gucci and Prada is same which is very sexy, sleek, sensuous and smart.In product line in the same season Gucci and Prada offers almost similar shoes but Pradas shoes are very smart and trendy where as Guccis shoes give very dull look. So, from that comparison Gucci is not able to maintain their brand image where as Pradas shoes are simple but Prada maintain their brand image which is very smart. While comparing the advertising campaign and the store display window, Prada and Gucci go hand in hand in terms of convey the message through advertising campaign and also highlight their image through store ambience. But Gucci has 278 stores all around the world where as Prada have 128 stores around the world.So, globally Gucci is more notewo rthy than Prada. The brand value of Gucci is more than Prada. Reference Websites http//bwnt. businessweek. com/interactive_reports/best_global_brands_2009/index. asp? sortCol=rankid=1=2=50 http//www. stanforddaily. com/2009/03/06/milan-fashion-week-sexes-out/ http//www. researchandmarkets. com/research/34a553/footwear_market_re Books Journals Images Prada vaunt http//williamyan. com/blog/2009/7/24/retail-prada-window-display-in-soho. html) Gucci display http//www. bobbintalk. com/2009/11/window-shopping-gucci. html