Foreign Market Analysis
Company will sell their goods and services at global level to improve their customer base. For above stated aim, it is fundamental for them to examine cost, risk and in addition advantages to enter into foreign marketplace. As a result, they can introduce their products at international market in an adequate manner. Additionally, it will increase market share of firm and they will able to gain foreign currency (Bodie, Kane and Marcus, 2014). It helps them in improvisation of their revenues. By exporting items into other nation, government will enhance their economic growth. This will aid country to enhancement of their GDP. Present assignment is based on Louis Vuitton which is much famous brand and operating their business worldwide. They are producing variety of products for people, such as watches, accessories, bags, jewellery and many more.
Now, association wants to export their bags into China. Therefore, it is necessary for them to analyse market of that nation. For this, they need to evaluate requisite figures of China, for example: population, GDP, GDP per capita and along with median age. To formulate strategies and policies effectually, it is needed for manager to conduct SWOT investigation. It will help to find out opportunities which can be accept by firm because this will provide them growth and development. Apart from this, it is required for superior to evaluate business potential in export market. Organisation will opt another option for export of bags i.e. India, if they are not selling items in China. To accomplish needs of every individual, firm has to segment their market. Finally, an effective strategy need to be created to launch new item at marketplace. This report is going to highlight elements of marketing mix. To make produce more successful some market activities like, promotion, distribution etc. will be used by Louis Vuitton.
1.1 Analysis of export market
Export market means when products as well as services are sell out to other nations. With assistance of this, an organisation will develop their image at international level. This will aid them in improvisation of profits and in addition goodwill.
According to Malhotra, Sivakumar and Zhu, (2011) Export marketing comprises administration of those activities that are associated with marketing of items which are going to introduce in other country. This will assist association in expansion of market and along with, they can capture attention of numerous people. If organisation is doing their business at global level then, they need to follow rules and regulations which are created by government.
Louis Vuitton is a luxury retail enterprise which is founded in near 1855. They are doing their business in various segments, such as shoes, jewellery, watches, bags, books, accessories and so on (Schwens and Kabst, 2011). They are doing their business in approximately 45 nations with more than 450 outlets. Now, they want to enlarge their business in China by export bags over there. They will help them to improve their client base. Along with this, it aids them to increase range of their products and services. For above stated aim, they have to analyse market and situation of China. Henceforth, it is fundamental for them to examine essential figures which are stated as beneath:
- Population: In China, there are more than 1.3 billion people are residing and it is found out as a large population country in world. There is a policy of one child to control the populace. As company is going to introduce their bags into China; therefore, chance is high to improve the customer base. There are various segments of persons are residing but, Louis Vuitton is targeting to young generation. Products of firm are much classy which will attract youngsters towards them because these individuals always follow trends (Chen and Chang, 2011). As a result, firm will easily grow their business in China in an adequate way.
(Source: Miranda, 2015)
- GDP: It stands for gross domestic product, this is monetary examination of value of market related to entire products as well as services which is manufactured in a specific period i.e. yearly or quarterly (Laufs and Schwens, 2014). With assistance of this, economic performance of nation will easily evaluated. In other words, it can also be measured through total cash fagged on investment (I), consumption (C), government spending (G) and in addition exports (Exports (X) – Imports (M)).
Henceforth, it can be calculated by using formula which is mentioned as below:
GDP = C + I + G + (X – M)
As per research report, it has been found out that GDP of China is almost 11 trillion USD which is high as comparison to France (GDP = 2.45 trillion USD). Therefore, this will be easy for company to introduce their goods in China. As gross GDS is very strong; thus, purchasing power of people is high and they are maintaining their living standard effectually. Along with this, economic performance of nations is effective which help an enterprise to survive for long term at marketplace.
- GDP per head: This can be calculate by using following formula:
Gross domestic product / number of people in nation
With assistance of this, any country will compare their economic performance with other. If there is an increment in it then, there is enhancement in production of goods and services. This will states that there is rise in standard of living of individuals. According to research paper, GDP per capita of China is almost 8,120 USD which is less as compare to France i.e. 36,850 USD. Fundamental reason of this difference is population because populace of China is high according to France. Therefore, Louis Vuitton can easily export bags as this will aid to improve their market share.
- Median age: It describes the age which classified people of nation into two equal teams and in this, half is related with old individuals and other youngsters. In China, it is almost 25 to 40 years. As people of this age group are much trendy and attract towards new and unique items. In France, it is almost 40 years; therefore, as organisation is going to export their bags into China then, this will easy for them to capture attention of numerous individuals.
Henceforth, it has been understood that, if firm wants to export their business in China then, it is essential for them to comprehend economic of that nation (Stiebale, 2011). As a result, they can easily provide their goods and services to people who are residing over there and help them to raise their standard of living (Maekelburger, Schwens and Kabst, 2012).
Instead of all this, it is required for Louis Vuitton to conduct SWOT analysis for their enterprise; therefore, they can formulate strategies for their business in an effective and efficient manner.
Strengths: This can be stated as below:
- Strong association to quality: Louis Vuitton is a luxury brand which is famous across the world for their best qualitative items. Similarly, if client is paying high amount then, they are more concern about quality. Certain standards are made by them and employees need to keep it. Thus, it has been understood that they are strong in providing quality goods to people.
- Brand recognition: It is easily recognised by individuals as there logo is print on their bags; so that, people will always remember about it.
- Top celebrity endorsements: Company comes under top brands; thus, this will be easy for them to make an advertisement with famous celebrities. As they are going to export bags in China; so that, they will create ad with support of Angelina Jolie, Scarlett Johansson and many more.
- Wide network: Organisation is operating their business in almost 45 countries with more than 460 outlets. Therefore, they have nearly 1,21,000 staff members who are currently doing their job with them. They are dealing in variety of products and in addition, selling their goods online to people. Which aid them to increase their customer base. Along with, they are taking assistance of many retail stores to sell their items to customers.
- Exclusive merchandise: Enterprise is much popular for their unique designs of bags. There goods will be easily identified by persons in the crowd also (Frenkel and Johnson, 2013).
- Top designers: Product design of Louis Vuitton is creative which aid to attract numerous people towards them. Designers of firm is very popular across the world and they are Stephen Sprouse, Manolo Blahnik, Isaac Mizrahi, Helmaut Lang, Romeo Gigli, Vivienne Westwood and Azzedine Alaia.
Weakness: These are stated as below:
- Excessive centralization: Company is founded by Louis Vuitton which is known as a tough manager. He has a copyright or patent on almost all of their products. He only has the right to take decision regarding business; thus, there is centralization in his powers (Chaboud And et. al., 2014).
- Lack of sensitivity to foreign cultures: Louis Vuitton is a French stylist and company is accepting others designs easily. But there is deficiency in sensitiveness to foreign culture.
- Over reliance on Japanese market: The brand is much popular in across the world. But, there most of items are basically owned by Japanese females. Therefore, it can decrease their abilities to face another marketplaces.
- Exorbitant pricing: Louis Vuitton comes under luxury brands and they are providing their goods and services at high prices to customers. Therefore, if they want to target large market segment then, it is fundamental for them to decide value of their items moderate. They are going to export their products in China; so that, they need to set price of goods low to compete their competitors in an effective way (Kontinen and Ojala, 2011). By maintain quality, they can attract many people towards their merchandises.
Opportunities: By obtaining it, firm will easily enhance their profits as well as market share.
- Growing market potential: As company is doing their business in many nations. Now, they are going to enlarge their market by exporting bags into China. Which aid them to enhance their profits and in addition customer base. As a result, they can easily maintain their reputation at national and along with international level. It is considered as the best opportunity for firm.
- Increase in number of working women: It is necessary for organisation to appoint more females as a staff members at workplace. As they can understand customers appropriately and sale them products easily (SWOT analysis, 2017). It has been noticed that women can easily convince individuals to buy an item. Enterprise is going to export bags in China and there main targets is young girls.
- Rise per capita income: If it is high then, people can spent much amount to purchase goods and services. Therefore, firm will increase demand of luxurious products which aid to improve living standard of people.
- Tie up with fashion house: Louis Vuitton can take assistance of many famous fashion house as this will help them to increase their market share. As a result, they can improve their customer base effectively and efficiently (Navarro and et. al., 2011).
Threats: It will consist:
- Counterfeiting: It is considered as a biggest danger which is facing by Louis Vuitton. Thus, if there is presence of fictitiousness then this will affect image of company in an adverse manner and in addition cut market share.
- Managing multinational customisation: Enterprise is developing best and unique goods for people and provide them a facility of customisation. Hence, they will face various sort of issues or challenges in front of them.
- Increase in competitors: As Louis Vuitton is going to export their merchandise in China. There are many companies who are manufacturing qualitative and unique bags for people at affordable prices. Therefore, if they want to take benefits from them then, it is must for them to formulate effective strategy (Grant, 2016). Additionally, it is required for them to set value of items moderate and produce attractive merchandise which will capture attention of numerous individuals. There are many rivals of Louis Vuitton, such as Prada, Gucci, Versace, Zara, Burberry and many more.
- Government policies: Firm is going to expand their market into China by exporting goods and services over there. Therefore, it is must for them to follow those policies which are formulated by regulatory body. This will assist them to conduct business operations in an adequate manner.
1.2 Evaluation of business potential for product in export market
Louis Vuitton is a luxury brand which is famous for their quality goods and services. They are operating their business in more than 45 nations; therefore, customer base is high. Now, they are going to start exporting of merchandise into China; so that, it is mandatory for them to conduct research. This will assist firm to know about people and market of that country. There are various reason behind selection of China to export bags over there. There population is much high which aid enterprise to increase their market share (Dervis, De Melo and Robinson, 2015). Along with this, political stability of firm is much high as comparison to other country; thus, there is maximum circumstances of growth and success of company.
People of China is maintaining their living standard in an effective manner. It is required for manager of firm to determine purchasing power of persons who are residing in China. This will aid them to decide price of goods and services (Marsh, 2011). Rather than this, they have to examine their competitor's strategies which are following by them. It will help Louis Vuittion to take benefits from their contenders. Market of China is entirely differ from France in various aspects, such as size, population, GPD and so on. Organisation is going to export their items into China; therefore, they need to examine environment of that nation. By doing this, enterprise will adopt opportunities which are accessible for them at marketplace. This will assist them to improve their market share.
Before export, it is necessary for company to take license from government because without it they are not able to sell their merchandise across the world. They will provide training to their staff members; thus, they can easily accept responsibilities which are given to them by superiors. To maintain goodwill, Louis Vuitton can cater after sales services to buyers which assist in their retention.
Instead of this, it is needed for organisation to examine demand of their goods at market of China. This will assist to accomplish needs and wants of every segment of individuals (Jones, Coviello and Tang, 2011). By fulfil requirement of customers within limited period of time, firm will take benefits from their contenders. For above stated aim, there are many tools and techniques which can be utilized by firm, for example social sites, survey and so on. If company is providing qualitative items to people at a moderate price then, they can easily enhance demand of it. Rather than this, manager of Louis Vuitton will take pre orders of bags which they want to export into market of China and after that, they will start shipping.
Superior of firm will take assistance of game theory because it can help to determine preference of clients. It aids to found out that how much amount a clients can pay for any goods and services. Individuals of China want trendy products to accomplish their needs and wants and in addition keep up their living standard.
2. COMPARATIVE CHOICE
After conduct market analysis of China, if manager of Louis Vuitton wants to change it then, they will choose India to export their goods and services (Baek and Qian, 2011). There are various reasons behind it, which are stated as beneath:
- Population: India comes on second number on this basis. At present more than 1.3 billion persons are residing over there (Yang and Lin, 2012). Thus, company will easily capture attention of numerous individuals which assist them to increase their client base in an adequate manner. Median age of India is near 25 years; therefore, they can target youngsters of that nations because people of this age is basically want trendy items to maintain their standard in front of society.
- Buying power: GDP of India is more than 2.2 trillion USD; hence, purchasing capacity of persons is moderate. Price of product is affordable which can be easily purchased by individuals. As indicated by a research paper, it has been identified that India comes at third number in the buying power.
- Economic growth: This is much effective as income of people is increasing continuously. As a result, they are able to purchase more luxury items as it aids to maintain their standard of living (Schmid, S. and Kotulla, T., 2011).
- Flexibility of duties and legislation: An organisation can easily export their goods and services in India because rules and acts related to it is much easy. Therefore, it is not difficult for Louis Vuitton to export items over there.
- Political stability: Government of India is going to stable for another ten years; therefore, chances for alterations of rules and regulations is much less. If company wants to sell their items over there then, they can do it and this will help them into their long term survival.
3. DETERMINE TARGET
Company is going to export their goods and services in China as population and GDP is high as compare to other nations. Organisation is expecting 50 million USD sales in China; so that, they can maintain their profits. This will aid them to survive at marketplace for longer period of time. As a result, they can increase goodwill of firm at global level. If sales are increasing then, this will be easy for them to expand their business in other places.
It is required for association to accomplish needs and wants of every kind of people; thus, they will fulfil their requirements within limited period of time (Goudarzi and Ramanarayanan, 2011). For above stated aim, they can classify market into various parts, such as behavioural, geographical, demographical and in addition Psychographical. Henceforth, manager of enterprise segment their market as per the basis of demography. According to this, they can divide marketplace as per age, gender, income, occupation and so on (Raff, Ryan and Stähler, 2012). There main target is those people who comes under the age of 25 to 40 years. Main reason for this, there spending power is high as comparison to individuals of other group. They want to purchase unique and attractive items which help them to maintain their standard in front of society. Louis Vuitton is manufacturing bags for women only as they always carry stylish bags with them. Organisation is producing unique design which aid them to attract people towards them.
4.1 Strategy implement to launch the product in country
It is more important for every organization to use effective strategy to launch the product in market which leads in getting positive response form customers. It is more important to informed market strategy because it directly assist in determining company vision, mission and all the business goals. It directly affect the entire business so that it is necessary to plan and develop effectively. Basically marketing strategy is an appropriate planning tool to successfully launch product in market (Ramamurti, 2012). In this company find a new market in which they easily expand their business and also launch their products to achieving favourable results which leads in enhancing the overall performance in new market in most effective manner. In this context, Louis Vuitton is a fashion and luxury retail company in French, which provide various products to their customers in order to get their better satisfaction. They operate their business in various countries and location in which they easily generate larger revenue in effective manner. In current time they wants to expand and well as introduce their bag services in China. Because the main aim of selected company is to generate more profits by offering their quality products in over the world. For successfully launch their bags Louis Vuitton use new market development strategy. But before expanding as well as launching products they have to effectively plan for identifying needs of the customers in market place. Better planning and implementation of growth helps in developing new market in which company launch their bags. It define various aspects which assist in evaluating the better results are as follows:
- It is important for company to describe business and products and service also to set their position at market (Verdolini and Galeotti, 2011).
- After that determine their position and role of the products.
- Explanation about customers profile and competition at market.
- Identify the marketing tactics which will bes used in their expanding their business activities (Johanson and Mattsson, 2015).
- After determining all these aspect it helps in making effective marketing plan to evaluate their overall performance in market place.
Along with this, effective marketing strategies helps in providing better direction in which company easily attaining their marketing goals and take competitive place. With the help of this firm set their product position a and also reach their target customers in which they easily offer their services in most effective manner. Furthermore it is also important for Louis Vuitton to identify their business goals before implementing the product in China which helps in setting all the marketing goals that attain by the company to enhance their growth level. In this new market development strategy is one of the effective for the company to launch their begs in China in order to generate more revenue by offering their target customers. Basically it is a growth strategy which determine the new market segment for launching the products.
By implementing this strategy Louis Vuitton focus on non- buying customers to expand their sales. In this new user or new uses helps in increasing the product demand so that company easily offer their services as per their taste and need (Luo, Huang and Wang, 2012). New users shows new geographic, demographic, new psycho graphic segments which leads in increasing the overall sale of the company. On the other hand new uses for the product is also an effective way to enhance the sale. By this Louis Vuitton easily take place in China market because the population of this country is high as compare to France so that they offer their services in this location to to improve their profitability by selling their their bags for customers. In their they also tries to produce quality services at affordable price which leads in attaining large number of customers. It directly aid in increasing brand image of the company at market place. Basically China market produce various products at cheap rates so that it is important for the Louis Vuitton company to introduce their bags with high quality and affordable price which easily helps in maintaining their sustainability of the profit at market place. In this context, it is also important for the company to use this strategy as a opportunities which helps in reach at their target (Mancini, Ranaldo and Wrampelmeyer, 2013). For executing market development strategy is more systematic manner than there are some appropriate consideration which help company to effectively launch their bags at China market which are as follows:
- To evaluate as well as understand that is the market is attractive for the company? For this company undertake effective market research to define the actual market position for the products (Antonietti and Cainelli, 2011).
- After that it is also significant that evaluate all the time and resources which helps in reaching the new market and its new uses.
- For better understand the business and market nature it is important for the company to ensure that business adopt new market effectively, if not than they stopped launching their bags in market.
- Before launching products in new market, company have to ensure that they maintain their current competitive advantage in new market. If they easily maintain than they attain higher profitability from their customers by offering quality services.
Along with this, new market development strategy is also include effective aspects in which company evaluate that how they grow their business in China. All these consideration are as follows:
- Increase present customers rate of use: It is also important for Louis Vuitton to maintain their customers rate of use by increasing purchasing size and it is possible by attaining large number of customers (Wei and et. al., 2014). Along with this, for increasing customers base company have to find out the new uses of products in which they should be promote their products features in market place and tries to give attractive information which helps in influencing the customers to buy company products. With the help of this Louis Vuitton easily increase their customers using rate.
- Attracting your competitors customers: For attaining positive response by customers towards the products in new market, it is important for Louis Vuitton to make quality products and offer at lowest price as compare to its competitors. By this firm easily attract competitors customers within their products which positively affect overall brand image at market place. Due to high population of China it is big opportunity for Louis Vuitton to easily launch their bags in this country to generate revenue (Pal, Rao and Manimaran, 2014).
- Attract non buying user to buy your products: It is also effective process for the company in which they offer trial products to customers and also adjusting the prise according to users (Hessels and Parker, 2013). On the other side they also promote another uses of their products to invite more and more customers towards the goods which leads ion enhancing the profitability level at market place and also capture large market share for its rivals.
- Expanding Geographically: At the time of expanding as well as launching product in new market, firstly identify the location where company wants to introduce their products. In this various options are there for the company such as another regions, nationally and internationally. Geographical expansion is more effective for company in which they easily cover all the location and offer their services to its customers and get their better satisfaction level.
On the other side, expanding the product line is also important for Louis Vuitton to maintain their competitive place in China market. Because number of companies offer their products in this country easily and also attract huge customers so that it is important for selected company to develop their products by offering better services to the users. For this they considered potential manufacturing, marketing and distribution to improve their product line (Petrou and Thanos, 2014). By this Louis Vuitton effectively distribute their services with affordable price which leads in enhancing the used of bags in China market and also attain higher profitability. After that Louis Vuitton also evaluate that their product meet new market needs. For this they define some consideration which helps in getting better customers satisfaction and also get success in launching products in China market. Which are as follows:
- Add new and innovative features within their existing products by adding attractive packaging, and features to attract large number of customers base. With the help of this Louis Vuitton offer their quality bags to China customers and attain their positive response.
- Develop additional model in their current bags in which company can make sling bags which largely required by collage going girls and boys.
- For capturing all age of customers Louis Vuitton produce various types of bags as per customers taste and preference. It also helps in making their brand image strong in China market and also enhance their profitability level as compare to its competitors (Kalinic and Forza, 2012). Mainly they focus on median age customers because the rate of this segment is very high so that company easily generate their profitability from this segment.
All these consideration aid in maintaining their competitive place which leads in evaluating better brand image at market place. All these helps in developing company products in market which invite more and more customers towards its products and services.
Along with this it is also significant for Louis Vuitton to create customers value by using marketing mix. It is an effective tool which helps in increasing consumers base within the company. Basically it is an fundamental model which is used by the company to increase customers awareness towards the products and services. With the help of this marketing tool firm easily capture market share form its rivals. It is a significant part of marketing plan which include various elements that directly aid in enhancing the overall performance of the company at market place (Hudson, 2013). Louis Vuitton also use this marketing tool to launch their products in China market in which they have to analysis trends and customers preference to set their product position successfully. By using this they easily invite more and more customers and also attain entire target in most effective manner. It help to company to take better marketing decision. It define appropriate combination of elements such as product, price, place and promotion. All these play significant role in launching the product in new market like China. All are as follows:
- Product: Louis Vuitton sell premium luxury products which makes by 100% pure leather which helps in attracting large number of customers easily. The main reason behind this they include as well as make only handmade products and also avoid machine made goods in which they hire best craftsmen to produce unique products. By this they easily launch their products in China market and invite more consumers. This company also include another rage of products like briefcase, wallets, watches and so on for China customers in order to maintain their sustainability within the market.
- Price: One of the important think is Louis Vuitton uses value based pricing for its products but due to high rate of the goods customers willing to pay the cost. Company focus on its design and quality so that they set their product high. For launching their product in China market, it become more important to set their price is cheap because customers already get bags in lower rate (Razin and Sadka, 2012). If Louis Vuitton offer their quality customers at lower cost as compare to another company so that they easily take strong position and enhance their profitability level at that market. Mainly selected company use premium pricing policy in France.
- Place: Louis Vuitton are not sell their products in departmental store because they believes in having their specific and own stores in which they offer their products to the customers (Papadopoulos and Martín Martín, 2011). In this they set trained and skilled person for handle their customers with high warmth and also give them attentions. Due to limited stores distributional cost is very less because they set their limited shops in which customers easily walks up and buy its products. At the time of launching their bags in China market they have to set their outlets those place where they easily reach at their target customers. By this they effectively serve their services at various location in order to get positive response.
- Promotion: Louis Vuitton invite various as well as famous actors and models in which they easily make string emotional connection with the customers. One of the prime source of promotion of this company is print media in which they use magazines, billboards and various cities to promote their products and company information. They also give their adds in fashion magazines which reads by elite class customers because they offer luxury products in market (Annushkina and Trinca Colonel, 2013). In China market they have to maintain their brand image by promoting their information in front of large number of customers. In this they should be consider all the median class people who easily afford its products and price so that they easily maintain their sustainability in market and also retain their customers for long time period.
All these marketing mix elements helps in creating customers base within the company which helps in attaining higher profitability. By this Louis Vuitton easily capture larger market share at take strong place in China market.
4.2 Marketing activities will implement to launch successfully the products in China
Marketing is an effective activity of creating customers base within the organization. Basically it is a process of communicating and delivering values for the customers to get their satisfaction level. One of the main advantage of using marketing concept is to increase public awareness towards the products and company also. Every organization use marketing activities to sell and buy products and services (Bourguignon, Branson and De Melo, 2015). It consider advertising, delivering and selling goods to the consumers (Menkhoff and Schlumberger, 2013). The aim purpose of using this activities is to make the public aware about the company and its products which leads in increasing the overall profitability of the company in most effective manner. Louis Vuitton also include effective marketing activities to enhance selling activity of the company at China market. It is important for the company to effectively analysis the market trends of Chine before implementing to launching their products which leads in increasing the chances to getting better success. In this context there are some effective marketing activities which s used nu the Louis Vuitton to launch their products in China market to attain better growth and also develop their brand image. Which are as follows:
- Distribution: It is one of the important marketing activity for Louis Vuitton to sell their products in market. Basically it is relate with the place where company service their services for the customers. It is an effective process of making final products which available for the customers as per their needs and requirements. For attain better success it is important for the Louis Vuitton to use effective distribution channel to serve their quality bags to China customers. In this should include good transport system to introduce services in various geographical areas, use effective tracking system which helps in providing quality products at right time (McGuinness and Sloane, 2011). With the help of this they easily cover all the China market area in most effective manner.
- Pricing: By using this marketing activity, Louis Vuitton set their price as per customer and its competitors because in China market all most products are available at cheapest rate so that every people easily buy and satisfy their needs. For take strong place in China market, it is important for Louis Vuitton to offer their quality product at lower cost which helps in increasing the sale as well as profitability of the company at market place.
- Marketing information management: It is also an effective activity which is implement by Louis Vuitton in launching the products in China market. Basically it is an management system which aid in taking best marketing decision in which all the marketing data and information are gather by the company to determine the actual demand. One of the main advantage of using this activity is to effectively understand about the actual needs of the customers (Murray and Gao, 2012). With the help of this company monitor buying behaviour of the users which leads in enhancing the overall performance level of the company at China market.
- Promotion: It is more significant marketing activity which used by Louis Vuitton to enhance overall sale of the company at market place. It increase public awareness towards the products and services. With the help of this company easily attain customers base by promoting their services through online, TV, print media and many more.
- Product service management: It is an also effective activity of marketing which include various marketing functions like developing, obtaining and involving products (Samarakoon, 2011). With the help of this Louis Vuitton easily expand their business at China market by introducing their quality products to customers in order to get positive response by them which directly aid in enhancing their production at market place.
All these marketing activities helps in inviting large number of customers by launching their products in China market. These plays significant role in enhancing the brand image at market and also increase customers base in most effective manner.
From the above mentioned report is can be concluded that expanding the business is one of the biggest opportunity for the business to attain higher success at market place. In this company export their business products in one country to another for the purpose of activities better growth. For this analysis of export market is also important for the Louis Vuitton in which they consider all the economic figures such as population, GDP, GDP per head and Median age of China which helps in assessing the actual growth of the business at China market. In this context GDP per capita is less as compare to France due to their variation of the population. In this they easily expand their market and also launch products as per China customers. Due to high population Louis Vuitton get more opportunities to attain success and also develop their growth in this market. Basically company focus on demographic aspects to evaluate the potential demand of the products and services of consumers. Along with this, SWOT analysis of Louis Vuitton is also summarized in this reports which define various opportunities and strength to improve their business activities at new market and also enhance their product growth in most effective manner. Along with this report also evaluate the export market in which political stability is effective which helps in improving their overall performance level in target market. Furthermore firm is also select India country because the population is also high so that they easily launch their product in that country successfully. In the last phase of report, marketing pan is also play important role in which company use new market development strategy to launch quality products in China. In this marketing mix also helps in creating the customers value to attain their success. Louis Vuitton also include 5 marketing activities within their expanding business to launch successfully the product in China market which leads in generating more revenue in most effective manner.
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