Chanel Marketing Plan

Marketing Interim Report By Bilal Rasheed & Hisham Ahmed Executive Summary Chanels objective is to provide a disposition of luxurious, elegant and fashionable bringing up for women introducing successionless style. If Chanel wants to go for the akin kind of brand im shape up then it needs to continue with the identical strategies which are currently existence applied. However, in fix up to increase market share, emphasis on mass media and e-commerce would be effective which the competitors are already practicing. Chanels vision is o be the ultimate house of opulence.Chanel is an established brand and specializes in haute c bring outure, luxury goods, accessories and ready to wear cloths. With the broad positive change in the global economy, the tr intercepts are changing with time handle demand for luxury products is on its boom. Company Summary Chanel started stomach in 1909 and it is operating mainly in europe,asia and most parts of linked states. The house of chanel is kn give for its fashion stores all over the globe. In this juvenile milinoum Chanel stepped up its purchsess in luxury sectors.Chanel offers and is known for fashion apparel ,watches ,eye products and mixed other fasion able accessories for women. Products and services Product description Chanel specializes in coarse range of products. Famous Perfumes by Chanel include Allure, Chance Eau Tendre and N5, which used to be global perfume leader and is still one the best perfumes in the world. The familiarity offers trendy handbags as well. These emply different leather and locks in order to be ad unslopedable to individuals One of the famous unisex wristwatches line by Chanel is J12.Chanel similarly has a clothing line for women. Competitive Comparison Brands like Louis Vuitton, Gucci are brawny competitors for Chanel as they have a very strong mental shoot for a line amongst the people. Technological needs Chanel, a luxury goods brand with a long tradition, has evolved into what it is now by constantly adding rising innovations to its tradition. Instead of resting on the business fields where it has proven successful, the company has brought forth new ideas. engineering science management refers to business management conducted around sophisticated technological proficiency.Although Chanel was a latecomer to the watch business, Chanels commitment to technology is noticeable in the psychiatric hospital of its own workshop. Chanels commitment to technology will be considered through and through the example of the J12,, Chanels first mechanical watch. Market Analysis conduct market Target Market Segment scheme Chanel customers are women who wants to get word 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 launch of chance perfume, Chanel is targeting women between the age separate 18-39. Market T rends Trends change every now and then and it is primal for a business to cargo hold a track of changing trends peculiarly in the target audience. In Chanels case changing trends could be more than like e. g. in accessories, size of pendants or shapes of earrings move on changing with time however, style remains the same and Chanels market image is such(prenominal) that what they bring into the market is labeled as fashion. Market ingatheringChanels success started from the sale of their famous, world leading perfumes, N5. Later on in 1920s and 1930s they decided to launch new perfumes amongst the unexclusive to gain more market. Soir De Paris was another fragrance launched after N5. To keep flourishing in the market and to make the business grow, cloths were also being sold under Chanels name. In late 1980s more than 40 boutiques were opened worldwide. This was later followed by other product gyves like Shoes, Chanel watches and various other highly priced accessories Ind ustry AnalysisIndustry Participants/Key Players The key players in the industry 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 also focusing mainly on luxury cosmetics along with Chanel creating a very tough competition. Not just this but other renowned brands like Gucci and LV are also equally strong competitors specifically for Handbags and other accessories.Perhaps its in reality thorny to dominate in such a market where brand image for competitors is also very strong. Strategy and Implementation Summary Marketing Strategy Chanel is focusing a lot on developing plans to take an gallant lineage into todays market. During 1999, Chanel took an initiative to target the age group of people under twenty five which was earlier ignored by the company. It was really important to take some ne w initiatives like this in order to compete with competitive fashion stores like C determine Strategy Chanel is known for its luxurious products around the globe.To Maintain this top lumber image products, high prices are being charged for its products. For similar reasons, their products are usually not discounted as it wont be really consistent for their image at all. Prices for their product are decided and selected just 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 up experienced frequently providing information for all the up to date promotions and also 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 reach 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 satisfy 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 selling their perfumes aswell. Basically chanel uses a comparatively terse channel for distribution.Chanel has mostly signed with local distributors in different state of matter along with their own boutiques. This is just to diversify and make the most out of sales. SWOT Analysis Strengths * Very strong brand image * high-octane management with intense training * High quality products Weakness * lamentable 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 gain more market * Keep up with technology Threats * Highly priced and counterfiet productsWeb Plan Summary Website Marketing Strategy To grow sales and gain a foothold in competitive markets, h aving so many an(prenominal) tough competitors, products were sold online directly through their website making it easier for all the customers to get the product. This would definitely enhance their total amount of sales at the end of the day. Development Requirements * Invest in the emerging markets, open more stores * sum up emphasis on new media technology * Pay more direction to the counterfeit and possible invest in technology to prevent it.