Marketing Process and Planning: Luxury Product and Nutrisip Analysis

This report delves into the marketing processes and planning strategies applicable to luxury products and a new food product. It begins with an analysis of the luxury market, including background information and statistics, with case studies of Nike, Gucci, and Louis Vuitton. The report examines the extended marketing mix for these brands and derives lessons learned. It then moves on to a marketing plan for a new product, Nutrisip, a multivitamin fruit juice, focusing on product specifications, consumer behavior, market segmentation, and positioning within the Indian market. The report includes recommendations for a supermarket considering entering the luxury product market, a detailed marketing strategy, and a marketing budget. Finally, it sets SMART goals for the product launch.

Tomas
Unit 2 Marketing Process and
Planning

Contents
Presentation ..................................................................................................................................... 2
Introduction ...................................................................................................................................... 7
Background and Statistics on The luxury Products .......................................................................... 7
Extended Marketing Mix ................................................................................................................ 10
Lessons Learned from Nike ........................................................................................................... 10
Extended Marketing Mix for Gucci and Loui Vuitton ...................................................................... 11
Recommendations for Supermarket .............................................................................................. 11
Introduction and Background ......................................................................................................... 12
Product Specification ..................................................................................................................... 12
Consumer Behavior and Segment ................................................................................................. 13
Marketing Strategy ......................................................................................................................... 13
Consumer Segmentation and Target ............................................................................................. 14
Positioning ..................................................................................................................................... 15
Nutrislip Market Positioning............................................................................................................ 19
Marketing Budget ........................................................................................................................... 21
SMART Goals ................................................................................................................................ 24
....................................................................................................................................................... 25
Recommendations for Supermarket .............................................................................................. 25
References ..................................................................................................................................... 26

Task 1
Presentation

Task Two
Introduction
Consumers' perceptions and preferences always change with new products or product lines as the
market trend changes with new substitute products that dominate the market in the economy class
product agenda or market domain. However, Luxury Products hold certain sentimental values and
royalty of brand that signifies superiority, quality, dignity and luxury that often customers value and
this makes them stick to the brand which makes the luxury product domain more vivid, complex
chain of the market segment.
In this paper, a benchmarking analysis is conducted on potential luxury non-food products/ product
lines for the organization that is a supermarket in coordination with the marketing such that the
supermarket can expand its consumer base into the luxury items domain. This paper discusses two
specific luxury products helped by marketing tools for the senior management to make profitable
business decisions for the supermarket company.
Background and Statistics on The luxury Products
The UK as measured by Hofstede’s dimensions is an individualistic demographical region of the
world where people are more centred towards individual persona of power, luxury and fashion. They
are attracted to any such items that can represent their style, power index, dignity and increase their
social status and recognition value (Soares, et al., 2007).

Considering the facts and inclined factors present by Hofstede’s cultural dimensions, the two luxury
product considered to expand the business of the supermarket is luxury shoes and designer
handbags. While one is valid for men and women but the other is more dominant towards the women
demographics considering the statistics presented as follows.
Shoes, Trainers and Footwear is a luxury product line that People in the UK cherish with style. Both
men and women consider footwear as a style statement and a sign of dignity and luxury. Various
brands are preferred in the UK like men prefer, Nike and Adidas while women prefer Balenciaga,
Gucci, etc. Nike’s Air Jordans are popular in the UK for Both men and the UK for their Luxurious
designs, comfort and style. As of 2021 Footwear market segment has seen customers expenditure
of approximately 9.77 million GBP in the year 2020-2021 (Tighe, 2022).
Figure 1 Luxury Products Segment in the UK (Tighe, 2022)
Of all brands, Nike predominantly has more dominance in the market of the UK specifically by its
Product line Air Jordan’s which has encountered 11.5 US million Dollars in 2021 in Europe
calculated on an approximate average in Europe (Tighe, 2022).
Figure 2 Nike's revenue 2021 (Tighe, 2022)
The second product line is Luxurious handbags which is a style statement for women of the UK
symbolizing Style Dignity, social status and recognition in the UK society. Various brands such as
Gucci, Ted Baker, Cartier, Prada, etc. Considering the market size of Apparel accessories

specifically women's luxurious handbags, the market segment is an exquisite segment which the
supermarket can focus on entering to expand its operations and customer base. The handbag
market segment in Europe is expected to grow at a CAGR rate of 5.3 % by 2028 in the statistics
below (Smith, 2022).
Figure 3 Handbag market in Europe (Fortune Business Insights, 2020)
Figure 4 factors of Handbags Product Segment market (Millioon Insights, 2021)

Extended Marketing Mix
Taking the Example of Nike 7P’s of Marketing of Extended Marketing Mix analysis is conducted as
follows
Product:- Nike sells a wide variety of items, including footwear, clothing, equipment, and
accessories. Produces and sells men's, women's, boys', and girls' clothing. We also select footwear,
providing several choices and designs to fit various sports. Nike, for example, sells sneakers for
basketball, soccer, jogging, the gym, and even casual wear (Cerrato, 2007).
Sportswear such as technical fleece and athletic wind runners, shorts, t-shirts, and trousers are also
available.
Place:- Nike offers their items through both online and offline channels to people all over the world.
These items are accessible in the brand's shops and distribution hubs worldwide. Products are sold
to wholesalers in the United States and across the world. In-store and factory retail shops, and
online sales via websites, are examples of direct consumer channels. Nike's global distribution
system is organised into global brand divisions as well.
Promotion:- The Nike logo and tagline distinguish your brand and offer it a distinct identity among
many other brands. This distinguishes the brand. Brands also employ a variety of techniques to
advertise their products and brands. Nike is a well-known corporation that receives a lot of attention
in the media. Brands advertise themselves using a mix of classic and new advertising tactics. Our
items are promoted both online and offline. Nike also promotes its products through sponsoring
athletic events and athletes.
People:- Human resource management has grown in importance in the twenty-first century. To
remain competitive, businesses must prioritise strategic human capital management. This is
because workers constitute a significant source of competitive advantage upon which the company's
other significant competitive advantages are built. The skills, expertise, and productivity of a
company's personnel are critical to its success. The corporation will have 75,400 workers by 2020.
Nike invests in its employees to help them grow and develop more quickly. Nike's Corporate Social
Responsibility programme includes them, training and premium career management tools.
Lessons Learned from Nike
• Create a unique product.
• To maintain progress, combine multiple
pricing techniques.
• Make your service accessible from any
location.
• Promote your items and provide a
unique message.
• Have personnel that will reflect your
company.
• Be Conscious
• Create a logo appropriate for your tale.

Extended Marketing Mix for Gucci and Loui Vuitton
Product Strategy:-
Prada is well-known for its sophisticated, luxurious items, which are accessible for both men and
women in all target demographics. They have a large selection of high-end ready-to-wear apparel,
leather goods, eyewear, perfumes, home items, footwear, watches, and garments for both men and
women, which are part of their marketing mix product strategy. Prada has a women's jewellery,
cosmetics, and handbags industry. They even offer a children's apparel brand and a Miu Miu goods
line for the younger market. Under the Linea Rossi brand, Prada offers a sports and leisure range.
Prada is also contemplating a mobile phone deal with LG Electronics. The Puig brand La Femme
Prada, L'Homme Prada, Olfactories and Les Infusions, Prada Candy, and Prada Amber are all part
of the fragrance sector.
Place and Distribution Strategy
Prada guarantees that the brand's existence is compatible with the brand's essence. Prada
commissioned globally renowned architects Rem Koolhaas and Herzog & de Meuron to build "Prada
Epicentres" in several locales. The store provides customers with a one-of-a-kind Prada experience.
The original epicentre debuted on Broadway in New York and is the world's most successful
contemporary shop. We also have flagship shops in Australia, Indonesia, India, Canada, Austria,
the United Kingdom, Germany, Hong Kong, Southeast Asia, Russia, Europe, the United Arab
Emirates, and the United States. Their items may be found all around the world in shopping malls,
huge stores, and a range of boutiques in multi-purpose buildings.
Promotion and Advertising Strategy
Prada has always prioritised innovation and creativity to find new ways to advertise its brand. To
promote their brand, they have always utilised aggressive marketing methods. Prada has its website
where all items are listed with comprehensive data, allowing purchasers to receive essential
information about a certain product. Prada has presented fashion shows that have proven to be
effective and persuasive, particularly in the fashion business. They held multiple runway events in
which prominent French artists and other Prada models and actors recorded songs, and they later
featured in advertising campaigns to have a stronger influence on their customers. They also created
adverts for magazines like Vogue and Elle. Miuccia Prada founded a travelling art gallery.
Recommendations for Supermarket
A Strategic partnership is proposed for the supermarket company to agree on with Nike and Prada
to enter the luxury products line segment because Prada and Nike are already market Dominators