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Integrated Marketing Communication Plan for Prada Essay Example

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Integrated Marketing Communication Plan for Prada

Prada designs high fashion clothes, handbags and accessories. The company’s designs are displayed in major fashion shows and runways across the globe. Thus, the target market for Prada’s designs includes professionals, business men and women, and celebrities. This target market can afford to buy Prada’s products.Demographic segmentation involves categorising the target market based on the demographic characteristics of consumers such as their social status, age, family size, occupation, level of income, education, nationality, religion and gender among others (Botha, Strydom, & Brink, 2005, p. Prada can segment its target market on gender and develop different marketing messages for men and women. Most of its designs are for women and thus, most of Prada’s marketing resources should be geared towards women. Prada’s customers can also be categorised based on their social status. Marketing messages should target individuals with high social status because they can afford Prada’s fashion designs. The company’s marketing communication plan targets customers from all nationalities. This is because the company has stores in different cities and countries and part of the communication will be online. Prada will target individuals between 20-50 years.Psychographic segmentation involves dividing customers based on the lifestyles habits, interests, activities, opinions towards an organisation and its products and daily activities among others (Lamb, Hair, McDaniel, 2008, p. Prada will focus its marketing messages to impulse buyers, celebrities, and successful individuals. These categories of consumers are likely to purchase Prada’s designs for their elegance and social status associated with the designs.Behavioural segmentation involves dividing the target market based on the consumption behaviour of consumers and their attitude towards a product (Ferrell & Hartline, 2010, p. Prada’s marketing communication plan will target impulse buyers and the consumer that frequent Prada’s boutiques and runway shows. The communication plan will also target the consumers that frequent Prada’s online storesBenefit segmentation involves identifying the target audience for a marketing plan based on the kind of benefits that different categories of consumers look for in a product (Lamb, Hair, McDaniel, 2008, p. Most of Prada’s potential and existing customers look for the celebrity status and high

References

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Ferrell, O. C. & Hartline, M. (2010). Marketing Strategy. Connecticut: Cengage Learning.

Hutzler, K. (2011). Burberry, Gucci maintain Digital Domination: L2 Think Tank IQ Index. Retrieved 12 May 2012 at http://www.luxurydaily.com/burberry-gucci-dolce-gabbana-top-digital-innovators-of-2011-l2-digital-iq-index/

Lamb, C. W., Hair, J. F. & McDaniel, C. (2008). Marketing. Connecticut: Cengage Learning Botha.

Marketline (2012). Prada Case Study: Fro Family-Owned Business to Global luxury goods Powerhouse. Business Source Premier. Retrieved 12 May 2012 at http://web.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=666f70df-a509-49d8-8093-ec7931af37ed%40sessionmgr12&vid=1&hid=9

Moore, C. M. & Doyle, S. A. (2010). The evolution of a luxury brand: the case of Prada. International Journal of Retail & Distribution Management, 38, 11/12, pp.915 – 927.

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Prada Group (2009). Consolidated Financial Statements. Retrieved 12 May 2012 at http://www.pradagroup.com/documents/reports/GruppoPRADA_Bilancio%202009.ing.web.pdf

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preview essay on Integrated Marketing Communication Plan for Prada
  • Pages: 8 (2000 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Undergraduate
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