Gucci’s Closest Competitor

CRITICALLY CONTRAST THE KEY divisor OF GUCCIS MARKETING STRATEGY TO ITS CLOSEST COMPETITOR. JUSTIFY WHY YOU vex CHOSEN THIS COMPANY AS GUCCIS CLOSEST COMPETITORS Gucci is one of the about powerful leaders in luxury fashion marketplace. Gucci is founded by Guccio Gucci in 1921 in Florence, Italy. Now, Gucci is the part of Gucci Group and Pinault Printemps Recloute (PPR). The orbiculateization of the fashion environment and encouragement in the western economies transform Gucci from a sm tot on the wholey Italian follow in to large luxury fashion mug in global level.In 1980s, Gucci had lost its appeal and became a tacky tarnish and was besides in deep financial crisis. But Tom Ford increase Gucci from dead and found out the companys leading view and maintains their customer loyalty. He created Guccis flick as sleek, sexy, and daring. And, Frida Giannini the new yeasty director of Gucci after Tom Ford changed the image of Gucci from sexy to sensuality. thither are two sides to a target like Gucci the glamorous, very(prenominal) natty side hardly also with its pedigrees and heritage of 90yrs history and artisans operative for Gucci. (Frida Giannini , The Times, sept 5, 2009)For the Guccis rebirth selling mix plays a vital role. The concept of 4Ps or the marketing mix is to explain the relationship of harvest-festival, price, progression and place with in the brand/business. The marketing mix is set of marketing tools that the firm phthisiss to pursue its marketing objectives in the target market. So, this theory proposes that all brands/business need the in force(p) harvest-tide, sell that product at right price, in the right place, using the most sui plank promotion. Basically brands use this concept to attract their target consumer to match their needs and demands.Out of these 4Ps product is main focuse area of marketing mix because the product is combine of tangible and intangible offer that a brand sells to customer to top money. Pr oduct addresses the need of consumer. The product has to have the right features like it must expect good and work well. When well inclinationed, good-quality product is at the root of the marketing rill it often adds a degree of authenticity and serious-mindedness to the marketing strategy. (Gary Aspden Adidas) For example consumer needs to fit in with the peer aggroup and the problem of how best to do this is solved by wearing busy brands trendy product. Mastering Fashion Marketing, Tim Jackson, 2008). As mentioned anterior that product is the main element of the marketing mix and in that product category footgear is the main focused area. tog are invariably 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 understanding laughingstock choosing this market is that the United Kingdom footwear market, the look on of this market is reached a recor d high of over ? bn in 2008. The UK is one of europiums 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 very common in luxury market all over the humankind.So, through this table get the fundamental idea of the product wise comparison in these four brands. All the four brands have almost interchangeable products but the personality is different. Gucci is much more correspondent to Prada in harm of brand image and product comparison. The brand image of Gucci and Prada is very seductive, powerful, accomplished, sexy and saucy. Where as Chanel and Louis Vuitton have very keen, classic, sophisticated and mature personality. In terms of pri ces Gucci and Prada go hand in hand while Louis Vuitton and Chanel are quite overpriced as compare to Gucci and Prada.While comparing the brand cherish of these brands and the be of Top speed of light 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 sixtieth 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 closest competitor of Gucci. But, here the comparison is found 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 primarily in the product line Prada is the closest competitor of Gucci. Here, the images from Prada and Gucci mens footwear collection of Spring Summer 2010. The design of the product is alik e, manikin of the shoes is also similar, and material they used is also same. The cut full stop 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 assumption piping on the toe hood and gave same glossiness stitching where as Prada gave contrast color stitching detail which is quite noticeable.The colors of these shoes are different Gucci used Bordeaux color in suede material which fountains very moderate 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 green, 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 finished 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 c olor and leather in sole logo.The color of the sole is also similar but detailing is different Gucci gave their make brand logo detailing on the rubber 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 better than Gucci in this comparison. Gucci Prada This announce 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 shiny and glamorous which represents very urban, beautiful, young and chic look. Where as Prada shoes are inspired by Trojan helmet/headdress which gives very stylish and cool look and more focus on product detailing. Gucci ( Guccis interject endanger window is very basic with perfume bottle shape with yellow light and hand saucer shape with pink light and back drop is decorated with Gucci logo. In t he discover Gucci display bags and shoes 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 sensuous, sleek and sexy, but through this window display Gucci back tooth not father its brand image. But, the light effect, ambience and product attendant 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 silvernn mannequins to display their footwear and which gave very trendy look. Even the color of footwear is very nice and eye catchy when it put on those silver mannequins.The placement of the mannequins is also very nice, they displayed 3 mannequins in the right education and rest of 3 mannequins they just flip it so that the product preserve sidle up more. And they used white lights for the di splay. So, through this window display Prada convey their brand image which very trendy, smart, sexy and sensuous. Thus, to conclude we can sound out 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 famous 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 Display 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