FORMATIVE ASSESSMENT $2[100$ MARKS$]$

TASK:

Globalization, new technologies, financial crises, shifting consumer cultures, and other forces require luxury brand

marketers to be skillful and adept at brand stewardship to succeed.

Key principles of luxury brand management:

$$ All marketing decisions associated with luxury brands$$product$,$ service, pricing, sales incentives,

communication, and distribution$$must be aligned to ensure that purchase and consumption experiences are

consistent with the image of the brand.

$$ Luxury branding typically includes the creation of a premium, aspirational image.

$$ Luxury brands frequently span categories, and as a result, their competitors are often defined broadly. Luxury

brands must protect their identity and aggressively combat trademark infringement and counterfeits.

$$ All attributes of luxury brands must be aligned with the image of the brand. This includes brand identifiers such

as names, logos$,$ symbols, and packaging, as well as brand associations such as personalities, events, countries,

and other entities $($Kotler et al$.2019).$

In lieu of the above, compile a marketing plan for a luxury brand; Louis Vitton, using the following sub$-$headings:

i$.$ Title page

ii$.$ Table of contents

$1.$ Executive Summary $(5$ marks$)$

$2.$ Identifying Market Segments and Target Customers $(5$ marks$)$

$3.$ Crafting a Customer Value Proposition and Positioning $(5$ marks$)$

$4.$ Conducting Marketing Research $(5$ marks$)$

$5.$ Designing and Managing the Product or Service $(5$ marks$)$

$6.$ Building a Strong Brand $(5$ marks$)$

$7.$ Managing Pricing and Sales Promotions $(5$ marks$)$

$8.$ Managing Marketing Communications $(5$ marks$)$

$9.$ Designing an Integrated Marketing Campaign in the Digital Age $(15$ marks$)$

$10.$ Distribution Channels $(5$ marks$)$

$11.$ Managing Retailing $(5$ marks$)$

$12.$ Driving Growth in Competitive Markets $(5$ marks$)$

$13.$ Developing New Market Offerings $(5$ marks$)$

$14.$ Building Customer Loyalty $(5$ marks$)$

$15.$ Tapping into Global Markets $(5$ marks$)$

$16.$ Socially Responsible Marketing $(5$ marks$)$

$17.$ Conclusion $(5$ marks$)$

iii. Referencing and Presentation $(5$ marks$)$