Today, we are going to discuss the marketing mix of Gucci in this article. The marketing mix of Gucci will involve all the P’s that build up Gucci as a brand globally. Gucci has been in the market for a long time now. It has dominated the global fashion market by making a bold fashion statement. It began its manufacturing as small leather goods and Luggage Company in 1921. It was always a premium brand, targeted towards a niche market from the start of its operations. After a few decades, the logo of Gucci became a symbol in the fashion industry as it evolved and started manufacturing other fashion products. It is now available in more than 550 locations.
Product
Gucci has been able to maintain the quality of its products till date. It has been maintaining fashion trends in this fast-paced world and has made numerous style statements for decades. The product line of Gucci has expanded since its establishment and is expected to grow in the future as well. The quality of the products is the reason for a high price and high sales in return as well. The company puts in a lot effort in designing and manufacturing of products which then stand apart from the competitors.
Price
Since the beginning, Gucci has been targeting a niche market which is the elite class. This is the reason their prices are premium. These prices are justified by their high quality products. Moreover, seeing where Gucci stands today as a global brand, the brand name sells for itself and no matter, how high the prices are, people are still willing to buy Gucci. It is also because people want to associate themselves with the brand name of Gucci. So the brand stands as a status symbol for many people now.
Place
Gucci is available worldwide and it is a growing network that has been growing in the past decades and is expected to grow in the future as well. It has been successful in all regions around the world because of its world-class products that are manufactured considering quality as an important aspect and because of its extensive an deficient supply chain. It has franchises around the world which has made it available and known everywhere. As far as the mental placement of the brand in consumer’s minds is concerned, Gucci has built the perception of being a premium brand that gives the customer’s their own exquisite personality. Customers view it as a product that gives them a high status because of its brand name. This speaks volumes about Gucci’s success.
Promotion
Gucci makes sure to make itself noticeable through all mediums of advertising. The brand advertises through billboards, magazines, banners, printouts, and social media. It is seen in all exclusive fashion shows in the world. Moreover, Gucci has its online store and app that can be used by customers around the world. Although the brand has developed and maintained a reputable name in the fashion industry, it still works on developing creative marketing campaigns to compete with the emerging brands of the industry.