Published by MBA Skool Team, Last Updated: October 05, 2017
Marketing Strategy of Valentino analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Valentino marketing mix, help the brand succeed in the market.
Valentino marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Valentino Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Valentino marketing strategy can be explained as follows:
Valentino, a premium luxury company, is an aspirational brand offering clothing line, cosmetics and much more. Valentino offers a wide product range across a number of product lines mainly for women but has also started introducing new products for men also. Valentino offers many products in its marketing mix under the categories of Apparel, bags, shoes, accessories, and fragrances. The accessories include small leather goods, jewelry, straps& charms and other soft accessories such as scarfs, shawls etc. It has introduced products lines such as Haute Couture which offers variety of collections which are uniquely and individually handcrafted luxury products, Pret a Porter are sophisticated and exclusive lines for men and women, Valentino Garavani are Valentino accessories label offerings and REDValentino which is more contemporary and more affordable line of luxury clothing.
Valentino Price/Pricing Strategy:
Below is the pricing strategy in Valentino marketing strategy:
Valentino is a premium priced brand catering to the affluent class.
The Haute couture is the luxury product line which is offered at pricing comparable to its competitors such as Dior, Prada, Chanel for customers who are not very price conscious and want a brand which is highly exclusive to the elites in the society. While on the other hand the Pret a Porter product line is offered at a price range of 315 euros to 5205 euros. The Valentino Garavani product line is offered in the price range of 115 euros to 2555 euros and the most affordable product line which is RED Valentino ranges from 30 euros to 1465 euros for the customers who are business professionals and the new elites in the society.
Valentino Place & Distribution Strategy:
Following is the distribution strategy in the Valentino marketing mix:
Valentino brand, through exclusive stores and ecommerce platforms, has a strong reach. The Haute couture products offers exclusivity to its elite customers and offered through the boutiques maintained by the company itself which offers personalization based on their styling needs. It has several retail stores in multiple countries located across the globe and usually sell through direct marketing. The brand has also established its website which sells several product lines through it and enables Valentino to collect information about the customers buying habits.
This differentiation in selling is done to keep the customer segments separate and maintain its exclusivity.
Valentino Promotion & Advertising Strategy:
The promotional and advertising strategy in the Valentino marketing strategy is as follows:
Valentino brand undertakes different marketing communication for different product lines. For the Haute Couture, the main communication happens through Catwalks in fashion shows, promotional videos, public relations and social media. While for the other product lines, the Valentino brand communicates through PR, catwalks, print advertising, Promotional videos, concept videos, online website and social media to promote its product lines to a wider market. It also published Ads through specific channels such as Vogue magazine which caters to its target segment. It takes customer relationship management very seriously sends them latest news regarding new products through emails and post. Further, it offers sponsorship to various charity events, fundraising funds, and musical events to gain visibility. Further, it also focuses on celebrity endorsements as well. The brand does not undertake any sales promotion activities. Hence this concludes the Valentino marketing mix.
Valentino is a Milan based luxury clothing company founded in 1960 by Italian fashion designer Valentino Garavani. It is currently owned by Valentino fashion group along with fashion brand Hugo Boss which is sustained by a private group of investors from Qatar. The brand established itself as a ‘Haute couture’ and designing innovative collections staying close to the core principals of femininity, elegance and distinct design.
Valentino started as a luxury brand but now has moved away from its traditional target market and has moved to a more affordable luxury segment to gain new set of customers for its products. The core customers of the brand are 25-40-year-old woman maintaining its original market with socialites and celebrities but has also started appealing to modern day young and well-traveled upper-class woman.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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