Who is Versace target market?
| Versace Overview | |
|---|---|
| USP | Versace offers products with a perfect blend of glamour, style and high end couture |
| Versace STP | |
| Segmentation | Urban people with extremely high taste and an appeal for the most innovative and luxury products |
| Target Market | Urban upper class individuals |
Therefore, Gucci's target market has primarily included celebrities, the wealthy, fashionistas, and the upper class. the target market has now been expanded to include the middle and upper middle class to make it more affordable for the middle-class women.
Versace will now be taking a 360 marketing approach, first with its fashion shows and campaigns, while pushing towards product placements and in-store executions by the end of 2019. This will see a new organisational approach to marketing, in a bid to align customer touch-points for brand moments and product pushes.
A target market is a group of customers with shared demographics who have been identified as the most likely buyers of a company's product or service. Identifying the target market is important in the development and implementation of a successful marketing plan for any new product.
Highly dominated by women with a high disposable income. It is famous for its celebrity appeal. With stores located in largely populated, wealthy and tourist attractive cities.
As implied by Gucci's segmentation, its target market is the high-status, high-income, and middle-aged employed consumers. Their customers have prestigious lifestyles and belong in high social classes, including celebrities, politicians, and other representatives of high-paying professions.
In the first half of 2018, Gucci's sales nearly doubled. And 55% of those sales were made to consumers under 35. Considering how 18- to 35-year-olds contributed to an 85% growth in the luxury-goods market in 2017, this is a big deal. Jessica Tyler: Millennials definitely matter in the luxury market.
Founded in 1978 in Milan,Gianni Versace S.r.l is one of the leading international fashion design houses and a symbol of Italian luxury world-wide.
Versace is an Italian fashion house founded in 1978 by Gianni Versace. Today it's one of the world's leading luxury brands. Like any brand, it uses a marketing strategy to stay connected with Versace's target audience.
A WINNING FORMULA FOR A MODERN GENERATION, THE VERSACE VALUES PROCLAIM VICTORY, CONSCIOUSNESS, UNITY, POSITIVITY, DIVERSITY, ADVENTURE AND INTEGRITY - IDEALS AT THE HEART OF VERSACE.
Who are your target market customer?
Your target customer is the person you've identified as most likely to purchase your products, according to Entrepreneur.com. This is a much more segmented portion of your target market, as you've identified certain aspects of this individual.
- Analyze your offerings. Ask yourself what problems your products and services solve, and, in turn, to whom they appeal. ...
- Conduct market research. ...
- Create customer profiles and market segments. ...
- Assess the competition.
There are four key types of market segmentation that you should be aware of, which include demographic, geographic, psychographic, and behavioral segmentations. It's important to understand what these four segmentations are if you want your company to garner lasting success.
It uses various channels to make the products available to the end customers. It distributes its products through company-owned stores, e-commerce sites, wholesalers, distributors and retailers.
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Global revenue share of Gucci in 2021, by region.
| Characteristic | Revenue share |
|---|---|
| Western Europe | 17% |
| North America | 27% |
| Asia-Pacific | 44% |
