Chanel Marketing Plan

merchandiseing Interim Report By Bilal Rasheed & Hisham Ahmed Executive compendious Chanels mark is to provide a sense of august, graceful and fashionable causeing up for women introducing perpetual style. If Chanel wants to guard the same kind of shuffling trope then it necessitate to treat with the same strategies which atomic number 18 currently be applied. However, in come out to increase market sh atomic number 18, emphasis on mass media and e-commerce would be effective which the competitors atomic number 18 already practicing. Chanels vision is o be the last house of opulence.Chanel is an established marking and specializes in haute couture, high life goods, accessories and ready to get out cloths. With the vast positive change in the global economy, the trends are changing with term ilk demand for luxury products is on its boom. Company abridgment Chanel started back in 1909 and it is operating mainly in europe,asia and intimately parts of united sta tes. The house of chanel is cognise for its fashion stores all over the globe. In this tonic milinoum Chanel stepped up its purchsess in luxury sectors.Chanel offers and is k at one epochn for fashion apparel ,watches ,eye products and versatile another(prenominal) fasion able accessories for women. harvests and services Product description Chanel specializes in wide die rough of products. Famous Perfumes by Chanel include Allure, notice Eau Tendre and N5, which used to be global odourise leader and is still one the surmount perfumes in the world. The community offers trendy handbags as well. These emply different leather and locks in order to be ad vindicatoryable to individuals One of the noteworthy unisex wristwatches line by Chanel is J12.Chanel alike has a clothing line for women. belligerent Comparison Brands like Louis Vuitton, Gucci are salubrious competitors for Chanel as they have a in truth strong get word amongst the people. Technological require Chanel , a luxury goods brand with a long tradition, has evolved into what it is now by continuously adding new-fashioned innovations to its tradition. Instead of resting on the blood fields where it has proven successful, the company has brought onwards new ideas. Technology management refers to subscriber line management conducted around sophisticated technical proficiency.Although Chanel was a latecomer to the watch business, Chanels load to engineering is noticeable in the ecesis of its own workshop. Chanels commitment to applied science will be considered through the prototype of the J12,, Chanels first mechanical watch. grocery store psychoanalysis hind end market Target Market Segment outline Chanel customers are women who wants to identify what Chanel represents which is elegance, simplicity, modern and class. Chanels cosmetics are targeted to younger consumers but they still retain the classic market which is their strong suit.With the preceding of chance perfume, Chanel is targeting women between the age root word 18-39. Market Trends Trends change e truly now and then and it is important for a business to keep a track of changing trends especially in the target audience. In Chanels case changing trends could be more than like e. g. in accessories, surface of pendants or shapes of earrings keep changing with time however, style remains the same and Chanels market image is such that what they bring into the market is labeled as fashion. Market GrowthChanels success started from the exchange of their famous, world leading perfumes, N5. Later on in 1920s and 1930s they dogged to launch new perfumes amongst the public to earnings more market. Soir De Paris was another aroma launched after N5. To keep flourishing in the market and to instal the business grow, cloths were as well beingness change under Chanels name. In late 1980s more than 40 boutiques were opened worldwide. This was later followed by other product chains like Shoes, C hanel watches and various other highly priced accessories manufacturing analysisIndustry Participants/Key Players The key players in the sedulousness same as Chanel would be * Louise Vuitton * LOreals Lancome * Calvin Klein * Gucci * Burberry * Alberta Ferretti * Bulgari * Canali Main Competitors/Competitive Analysis Chanels biggest competitors in the market would be LOreals Lancome who are in any case focusing mainly on luxury cosmetics on with Chanel creating a very oaf competition. Not just this but other renowned brands like Gucci and LV are as well as equally strong competitors specifically for Handbags and other accessories.Perhaps its real hard to dominate in such a market where brand image for competitors is besides very strong. Strategy and Implementation Summary Marketing Strategy Chanel is focusing a lot on developing plans to entertain an impressive lineage into todays market. During 1999, Chanel took an initiative to target the age assemblage of people under twenty quint which was earlier ignored by the company. It was really important to take some new initiatives like this in order to contest with competitive fashion stores like C Pricing Strategy Chanel is known for its luxurious products around the globe.To Maintain this top bore image products, high prices are being charged for its products. For similar reasons, their products are normally not discounted as it wont be really consistent for their image at all. Prices for their product are persistent and selected entirely by Chanel, France. Promotion Strategy To grow their market, Chanel focuses more on promoting their new products instead of older ones. For this, their website is updated frequently providing schooling for all the up to date promotions and too about their new upcoming products, if any.Not just this but to keep up with customers, very clear and easy information is provided for the customers to partake the company and contact them. This would help the company get their feedback and work on it in order to main the relations with customers and fit them. Distribution Patterns Products by Chanel such as their perfumes are not only sold in their own boutiques but also by other distributers. E. g in Canada, Distributors such as The bay, Luwinna etc are exchange their perfumes aswell. Basically chanel uses a comparatively scam channel for distribution.Chanel has mostly signed with local anesthetic distributors in different country along with their own boutiques. This is just to diversify and make the most out of sales. SWOT Analysis Strengths * Very strong brand image * Efficient management with intense training * High quality products Weakness * poor people geographical coverage * Work needs to be done on website as it does not specifies the prices for products Oppertunities * Can look forward to expand more, specifically In asia irorder to agnize more market * Keep up with engineering science Threats * Highly priced and counterfiet produc tsWeb Plan Summary Website Marketing Strategy To grow sales and gain a foothold in competitive markets, having so many punk rocker competitors, products were sold online directly through their website do it easier for all the customers to get the product. This would definitely levy their total amount of sales at the end of the day. Development Requirements * Invest in the emerging markets, open more stores * profit emphasis on new media technology * Pay more attention to the mold and possible invest in technology to prevent it.