CONTEMPORARY BRAND MANAGEMENT REPORT Case Study

CONTEMPORARY BRAND MANAGEMENT REPORT - Case Study Example The company took full advantage of the many synergies generated within the group while retaining its own identity and remaining faithful to its distinctive difference (Louis Vuitton.com). Louis Vuitton, the founder of the famous French luxury goods brand, began manufacturing trunks in Paris in 1854, and the company he started went on to become one of the world's most famous makers of luxury goods, known especially for its designer luggage pattern: a beige-on-chestnut monogram, "LV." Vuitton's high-quality travelling trunks were such a hit that he had to expand his factory within a few years, relocating to Asnires in 1860. As the years went by the Vuitton line gained international recognition, thanks in part to a bronze medal at the 1867 World's Fair and a gold medal at the 1889 World's Fair, both held in Paris. After Louis died in 1892, his son, Georges, took the company to new heights, developing what is recognized as the first "designer label" on a product. Widespread copying of Vuitton patterns pushed Georges to design the distinctive "LV" monogram. Vuitton's luggage company has since become a world leader in luxury consumer goods, with products that include trave l books, perfume, distilled spirits and designer clothing (Answers.com). Louis Vuitton is a truly global brand associated with lux... he stylish LV Monogram canvas that was carried on in the year 1896 and the soft Steamer Bag that was introduced in the year 1901 prefigured the opening of the Louis Vuitton building on the Champs-Elyses in Paris, the largest travel goods store in the world. The famous Keepall Bag, often seen as a forerunner of the duffel bag, was launched in 1924 and was followed by similar products. In the last quarter of the 20th century Louis Vuitton developed as a truly global brand: the first LV stores opened in Tokyo and Osaka in Japan in 1978, in South Korea in 1984, in China in 1992, in Marrakesh in the year 2000, in Moscow during 2003, and in New Delhi during 2003 (Answers.com). 3. Brand Analysis Consumers identify a brand's distinctive capabilities based on their perceptions that have themselves been created by the marketers over a period of time. A genuine brand is "the internalized sum of all the impressions received by the customers and consumers resulting in a distinctive position in their mind's eye based on perceived emotional and functional benefits" (Knapp). A brand, in general, conveys certain aspects like attributes, benefits, values, culture, personality and user each one of which are discussed below. Attributes: Attributes are things that usually speak about the product. A brand usually conveys attributes of the product in order to inform existing customers and at the same time attract new potential customers. If this aspect is compared with Louis Vuitton, the brand that is being discussed in this paper, the attributes of Louis Vuitton products' are stylish, fashionable and modern and are made of high quality premium leather. Benefits: In order for a brand to be successful in the market, it is necessary that the product attributes eventually transform into