Customer perspective
Gucci is a renowned brand of trendy fashion and leather products that is headquartered in Italy. The organization was established by Guccio Gucci in the year of 1921 in Florence and nowadays the brand generates over 4.2 billion US dollars worldwide. The organization is famous for their aristocratic products and the quality and the looks of those goods, especially their leather bags and hand-stitched leather shoes are very popular among fashion scattered throughout the world. Currently Gucci operates almost 300 stores around the world and acquired the title of largest selling organization in Italy (Subramanian 2015). As a luxurious fashion brand Gucci already has earned a reputation in the global market and thus a concept is established in the market that Gucci delivers quality products against right pricing.
It is seen that mostly there are three types of customers of Gucci, and in this section perspective of these three types of customers are to be discussed.
There are some customers of Gucci who are brand conscious not because of the quality of the product or they are satisfied with the products of Gucci, rather they consider products of Gucci worth buying as those goods can become potential status symbol for them. There are many instances which were experienced while interviewing various customers of Gucci where some people particularly have no clue about the products they are buying paying huge sum of money (Parker 2016). They only are interested about the products as they are trending in the global market and some friends or acquaintances of them bought some Gucci products, so they had to buy some products of Gucci to participate in the race for the status.
From the market research it has been proven that there are many genuine customers of Gucci who actually keeps the records of the products made by Gucci. These types of buyers do not care about the market trend or the hype of the market due to word of mouth or any other type of advertisement (Press and Cooper 2017). These types of purchasers do care about the products that they are going to purchase and they do a thorough research regarding the quality and the other aspects of that particular product and then buy those goods. These are the genuine customers Gucci have and Gucci should be proud of them.
Discussing about these types of customers might not provide any particular record or statistics as these types of customer’s research the market for the products they want quite well but in most of the times they cannot afford to buy expensive Gucci products due to its high pricing. This research shows that the organization might try to improve their structure of pricing the products in order to attract more customers for an improved reach towards the greater population. In this matter it can be said that it is quite impossible to maintain the quality of the goods if they intend to reduce the pricing, the managers of the organization should stress on these factors and come up with a greater idea that would serve both the purposes.
Type 1
It is rarely seen that in most cases after receiving the products of Gucci any significant issue regarding the product is raised by the customers. This is because of the quality product they deliver to their buyers. It is a fact that the management of Gucci never compromise with the quality of the goods they deliver and thus there should not be any concerns regarding the quality to the customers. After buying the products in some cases the customers might think that they could have gone for any other brand for the product considering the pricing is too high, but that is not something that occurs frequently (Wang and Wu 2012). Apart from that, in some particular cases, it is seen that the purchasers have received defective products who ordered those via website or mobile apps.
In this phase of the report, 6 customers of GucIe interviewed and they stated their requirements and expectations from the organization in a very reasonable way. Most of them actually said that initially they bought products of Gucci considering the huge brand value and some of them even thought that a Gucci product can be used as a status symbol. Many people admitted that after using some products of Gucci, they have become huge advocator of the organization and they encourage other individuals to buy the products of Gucci.
In the next phase, a thorough market survey was done and that proved that Gucci as a brand has gathered a huge customer base in the global market and it can surely be said that their products are in general of high quality and not many brands are there to compete with Gucci’s popularity and the quality of their products (Press and Cooper 2017).
After a thorough market survey and after the interview process was done, it was seen that at least 80 percent customers of Gucci who are using Gucci’s products for a long time are in general satisfied with the products they are receiving, but they have showed some concerns regarding the pricing of those goods (Cooper 2012). Some young adult customers who does not have ample time to visit the stores and in most cases purchase products online, has shown some grievances regarding the poor quality of packaging along with that, highlighted cases where they received defective products. For this resolving issue Gucci must have a sit down with the management of the shopping portals whom they are linked with and make sure that these things does not happen in the future as it could potentially harm the reputation of the brand.
Type 2
Gucci’s contemporary rival organizations are big shot companies like Armani, Versace and many more. But from the market survey and the interviews of the customers of these brands it can be said that these companies do not face situations where the customers are not satisfied with the pricing against the quality of their products and they do not have any kinds of grudges regarding the online availability of the products and regarding the packaging and the quality of the products sold online (Atwal and Williams 2017). These are the areas where the management of Gucci needs to work on immediately to sustain in the market where the market needs are changing rapidly and due to strategic advertising any company can come forward and substitute the other organization.
After analyzing all the data collected from the interviews and the market survey, it is seen that currently Gucci is getting a bit of lagged behind due to excellent online product delivery system of the rival organizations (Nagasawa and Fukunaga 2012). Currently the pricing structure of Armani and Versace is satisfying their global customers and there are no worries regarding the quality of the products they are providing to the customers. It is a matter of fact that Gucci nowadays has become a status symbol and people are buying products of Gucci, Prada, and Armani less for the quality and more to show off their expensive possession of those goods.
Thus to conclude, it can be said that Gucci is a global brand that is known for the quality of their goods and the unique design of their goods. But in recent times due to fierce rivalry in the market of luxury brands, they are lagging behind for various reasons. It is expected that with time the management of Gucci would surely find a way to climb of the ladder of success and again they would prove that they are the most popular luxury brand among the young adults in the global market.
References
Atwal, G. and Williams, A., 2017. Luxury brand marketing–the experience is everything!. In Advances in Luxury Brand Management (pp. 43-57). Palgrave Macmillan, Cham.
Cooper, N., 2012. Emerging luxury strategies: Insights from BrandZ. Hermès, 19, p.61.
Kejmar, P. and Stefansson, J., 2017. Is Electronic Customer Relationship Management for Luxury Brands?: Case study of the fashion luxury industry.
Nagasawa, S. and Fukunaga, T., 2012. Strategic Management and Brand Management on the Luxury Brand GUCCI. Bulletin of WBS Research Center, (43), pp.97-108.
Parker, C.J., 2016. An Appraisal Of Fashion M-Commerce Apps By Market Level: A technical report.
Press, M. and Cooper, R., 2017. The design experience: the role of design and designers in the twenty-first century. Routledge.
Shukla, P., Banerjee, M. and Singh, J., 2016. Customer commitment to luxury brands: Antecedents and consequences. Journal of Business Research, 69(1), pp.323-331.
Subramanian, K.R., 2015. Need of the hour: A customer centric format for organized retailing. International Journal of Technical Research & Application, 3(1), pp.58-63.
Wang, N. and Wu, Y., 2012. Market Feasibility of Burberry and Gucci in Zhang Jiagang City, PR China: Case: Introduce a New Luxury Brand into Kelly Mall.
ya Nagasawa, S. and Fukunaga, T., 2015. Strategic Brand Management of the Luxury Brand GUCCI.
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
