Louis Vuitton position in the Japanese market Case Study - 1

Louis Vuitton range in the Japanese market - Case Study ExampleIn light of the market trends, Louis Vuitton has strategically adapted new market approaches to the Japanese market. Following the global economic recession of 2008-2009, Japanese sumptuosity goods consumers have become more price conscious. Vis a vis, Louis Vuitton has been forced to re-evaluate its primary marketing strategy of aid brands in the case of the Japanese economy. The company lacks a comprehensive Japanese culture-oriented marketing strategy that would tag between the dynamics of the western market and the Japanese market. Employment of the Louis Vuitton global strategy fails to incorporate the pagan aspects of Japanese consumers in terms of price, quality and value addition. The companys success in the Japanese market has been driven principally by the group- culture that strongly promotes possession of luxury goods by consumers (Paul and Feroul, 2010). However, the market has been characterized by con sumers increased value for their money, thereby avoiding premium-priced luxury goods. Louis Vuitton position in the Japanese market has upgrade been weakened by new marketing strategies by relate brands who have lowered their prices to attract price-sensitive consumers. To verify its customer base, Louis Vuitton has been forced to also reevaluate its pricing strategies. To cushion themselves from harsh trends in the luxury goods market, rival firms have diversified their services and product portfolio to include non-traditional products. Chocolatier Godiva had announced plans to open up cafes in capital of Japan while Vertu a mobile phone company had plans to open up shops in Ginza. Therefore, Louis Vuitton runs the endangerment of solely depending on luxury goods market. The Japanese market has been identified to be cyclical, characterized by periods of extensive consumer spending, which are followed with reduce consumer expenditure.