Prada Marketing

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Prada is one of the world's largest luxury designers, renowned for its fabulous styles and distinct style of clothing, boots, and eyewear. The company makes certain that the items it offers correspond to the tastes and needs of its consumers. The aviator sunglasses are one of Prada's most famous products right now. As a result, Prada's aim in launching the aviator sunglasses was to reach a wider market in order to offer inexpensive and high-quality glasses to people at all income levels. Understanding the target market and the 4Ps tactics were critical to Prada's success in developing the aviator sunglasses brand.

Prada manufactures aviator shades for both men and women. However, the target market includes young adults and people of middle age who still have a sense of free-living. In the twenty-first century, fashion has taken a new turn with designers going an extra mile to be as original as possible. Furthermore, the company aimed at providing its potential consumers with a versatile product towards reducing the cost of buying different sunglasses for various occasions. Therefore, consumers have the option to select from a variety of designs that meet their tastes and preferences and make them feel stylish and comfortable when wearing the spects. The array of sunglasses produced by Prada in recent times demonstrates a new futuristic lookout as opposed to previous designs. In such a case, Prada gets its inspiration from a keen outlook on the world_x0092_s culture and society as a guide to making models that satisfy their customers_x0092_ demands.

Prada_x0092_s Targeting Strategy

Prada focuses on differentiated targeting strategy based on the belief that people have different tastes and preferences. In such a case, both men and women can choose from the variety of styles, colors, and sizes of the aviator sunglasses depending on what they find suitable and worth purchasing. Eventually, no one has an excuse for not finding an appropriate eyewear in the Prada stores.

Segmentation Variables

The four significant bases of consumer segment are geographical, demographic, psychographic, and behavioral variables. Geographic segmentation includes the climate of a region, the size of the areas, population, and regions. Demographic segmentation is divided into smaller segment variables like gender, age, income, social class, occupation, religion, ethnic groups, nationality and even home ownership ( Ramah et al. par 7). Psychographic variables include opinions, values, attitudes, activities, self-image, and interests by social class, lifestyles, and personalities. Behavioral variables comprise brand loyalty, price consciousness, the rate of usage, benefits of the products and commitment to the brand based on consumer knowledge and attitude.

Designs that are masculine and feminine define the collections making it easy for both sexes to relate to the product. The segmentation of Prada wears concentrates on elements such as style, class, and elegance because they play a pivotal role in attracting most of its potential consumers. The most appropriate segmentation variables for the aviator sunglasses include customer resources, specific needs, preferences, and behaviors. Market segmentation is the division of groups of customers in accordance with how they react to promotion, communication, pricing, and other market variables (Ramah et al. par 8). Therefore, the importance of market segmentation is a result of customers not being alike and everyone having an individual need that they are looking for in products. Also, customers_x0092_ ability to purchase products also depends on their disposable income. Therefore, some potential customers may choose to buy a generic product because of its affordability since most designer items appear to be expensive for most middle-income earners. Consequently, since Prada values all its potential customers, the company segments its aviator sunglasses at various prices, specifications, and other needs as a way to provide products that suits all income levels.

Prada utilizes strategies such as subsidization as a platform to make the different aviator glasses affordable to its wide range of customers. Through subsidizing, Prada manages to cut some costs that could make the product expensive but still manages to maintain quality as expected by the consumers. Understanding a company_x0092_s target market is the core of any business and therefore needs a lot of analysis and proper structure because otherwise, the industry will fail. For this reasons, businesses that face challenges in identifying their target market to borrow ideas from Prada since clients have different needs and expectations on any product.

Prada_x0092_s main challenge exists when it comes to catering to individual needs and expectations. Therefore, Prada overcame this trial by understanding its consumers_x0092_ needs and prospects, which aided in the creation of standard products that encompass most if not all demands of its customers. Furthermore, effective segmentation is important towards satisfying the target market as it allows the company to understand its customers, communicate, and distribute products efficiently depending on the different localities needs (Ramah et al. par 10). Moreover, identity has to be part of the segmentation of product so that the differentiating attributes match the clients_x0092_ prospects, which in return increases sales. Also, a sizeable segment plays significant role in serving commercial needs. Since making profits is Prada_x0092_s objective, it can only achieve this goal if it ensures to understand the different segments and utilize the information to come up with differentiated products that offer value. The varieties of sections should also be compatible with the capabilities of the firm and its resources otherwise there will be no profits or satisfaction of both the producers and customers.

Prada, as a global brand, has identified its consumers through focusing on all the segmentation variables applicable to the market. Fashion that is associated with Prada is sophisticated, classy, and elegant. Additionally, Prada has taken note of the resources available to their clients, which has contributed to the number of stores and the type of aviator sunglasses available in the shops. Identifying the specific geographical areas that will work well with Prada_x0092_s aviator sunglasses aids the company to minimize loss and dead stock. Consequently, aviator sunglasses have become a worldwide phenomenon since the target population is intrigued by its class and fantastic design that embody their personalities and self-outlook.

Product Strategies

Prada aviator sunglasses are the actual definition and expression of the brand. The glasses have broken the barriers of the usual eyewear as they carry a sense of individuality and creativity and at the same time comfort. The spectacular unconventional shapes work fantastic for style and customer expressions but still have full function ability (Cusumano, par 1). Prada eyewear product has a wide range of variety from the sporty wear to the bolder shapes that come in their classic tortoiseshell frames. The aviator glasses work well with customers who have bold personalities and do not have a lot of reservation on how others view them. Individuals who have gravitated to the collections seem to be free-spirited since the product is very forward and calls for attention. Equally, a person wearing the reflecting glasses can see anyone, but their eyes cannot be seen by others as the glasses look like mirrors. The aviator sunglasses work well as a statement for the people wearing them and speak volumes about their individuality and even how they see themselves. When looking at the aviator eyewear, it is easy to picture Prada_x0092_s source of inspiration. Moreover, some clients depict a sense of monotony if they come across generic items that try to resemble the actual aviator eyewear. The creative envelope is being pushed by the aviator collection from Prada forcing people to think and out of the box. Packaging is everything when it comes to selling products especially high-end designer products like the Prada aviator sunglasses. Apparently, the Prada client is someone looking for the best and the highest quality, therefore, the packaging needs to be measured up to the clients_x0092_ needs and expectations. Thus, even the packaging needs to attract the buyer because the user wants to spend money on something worth the value it is being sold for and the service it will render. Prada, therefore, ensures to pack the glasses in a well-designed box that looks nice and classy with a cleaning cloth for the glasses labeled Prada.

The first collection of the Prada aviator sunglasses was at the beginning of the millennium. Since then there have been frequent modifications of the eyewear every year and in addition to the men. The sunglasses began with a very safe design, which was a square shaped glasses that mainly fit a majority of the customers. The following years have seen edgy designs and the use of metals as a frame that gives the glasses a nice look and a lighter feel. The most recent collections have a tortoise shell shape that looks sophisticated and screams fashion. The use of fluorescent colors has become part of the glassware over the years since the colors create an attractive and bold feeling in the eyes. Clients who love Prada aviator sunglasses identify with the edge that the collection oozes with, the exquisiteness that the eyes wear exude when put on making them worth every penny. Prada as a brand has positioned itself in the mind of its clients as a high-end firm that offers nothing but a fantastic quality product. The aviator sunglasses that Prada makes is phenomenally packaged and designed to satisfy the needs and curiosity of the buyers. Clients who want the product to have an already set mind on what they should be expecting from the company, and that is nothing less of perfection.

Pricing Strategies

The distinction in the Prada aviator glasses is not only in its high quality but also the ever-changing styles, or designs. Costs of the Prada aviator sunglasses depend on customers_x0092_ needs, prospects, company_x0092_s reputation, and ability to produce quality, fashion-forward products. The collection represents the new age of technology but still respects the traditions that people uphold. Pricing such a commodity can be a challenge at times considering the amount of skilled labor time and resources put into the commodity. Brands that have already established themselves understand the basics behind price allocation on their products to avoid losing clients because of inflated costs that fail not matching the item sold. Such a company knows its market, which is high end for the young adults and youth. Therefore, all departments work as a unit to evaluate sales and many sunglasses collection to figure out the changes needed that will impact the overall sales the following year. The cost of production matters a lot as the materials used are different and very futuristic. Components like the gradient tinted lenses that start off at a darker color at the top of the lens and gradually lighten at the end of the lenses are one of the factors that may affect the pricing of the sunglasses. Obviously, there are a lot of details and resources involved in the making of the eyewear. A lot of calculations also determine the price of goods for any company from the conditions of the market, the ability to pay the ones involved, margins of trade, and the cost of input not forgetting the competitor_x0092_s actions. In the case of the Prada aviator sunglasses, many other brands have the same sunglasses which make the competition a bit tough regarding pricing, but the quality is the most critical element considered by loyal consumers. The outstanding components of the Prada version are what should determine the pricing and the quality of the competitors. Prada does not compete on price factor solely but majorly on quality and the reputation of the brand which is the most significant expectation of the clients.

Place Strategies

A distribution path is a channel that a product uses to reach a consumer from the producer. The path may be straightforward from the producer to consumer or at times there may be an intermediary or a middleman. The channels vary from wholesalers, distributors, retailers and even the internet which has become such a great marketing tool in today_x0092_s world. For The eyewear, there are more than one distribution channels that can efficiently work with the wholesalers to the internet. Given the nature of the product, it is effortless to distribute it to all the channels since it is portable and a commodity that flies off the shelf. People already know what they want when looking for the Prada aviator sunglasses which makes it easy for wholesalers where there is no display needed. Distributors may have a secure job with the eyewear since the quality has already been established and the client_x0092_s expectations are transparent.

Retailers have an easy job selling the product especially in the right geographic region where the customer base is ready for the product and internet is just a bonus for advertising and selling at the same time. The level of distribution for the Prada aviator is quite high especially in the marked regions that have many clients ready for the product. The quality of the Prada aviator creates a high demand, but the price may make the product scarce since the available stock flies off the shelves with every client wanting to have one before the stock runs out. The most appropriate retailing establishment is at the Prada stores, boutiques, and accessory shops. Boutiques and accessory stores work well because most people that look for accessories and clothes are most likely to buy sunglasses from which many high-end outlets carry Prada. The characteristics of the retail establishments have a great impact on the consumer's perception of the product. High-end outlets that have a reputable name are more likely to be believable and have quality while others that are not so well known may seem to have fake items. Designer items have a lot of limitations on the streets, and if a person does not buy the item from the designer shop or reputable stores, then it might as well be a fake. Brands like Prada have a specific distribution network that ensures that their products do not become dead stock by being sold by just anyone. The clients know where to find their products and the locations to visit for quality. Therefore, Prada understands the necessity of having reliable retailers for the sake of the client and the growth of the company.

Promotion Strategies

The advertising strategy for Prada aviator sunglasses starts with the product which speaks volumes, being well known for luxury products that are sophisticated. The placement of the products acts as a phenomenal advertising tool with high-end stores and designers retailing the products with prices that are exclusive to a particular customer base. Prada has always focused on creativity and coming up with new ideas and designs to promote their eyewear. They have one of the most aggressive marketing mixes and ensure that their message is heard loud and clear. The Prada website showcases their eyewear and ensures that all their customers have the full information on their product, prices, and even the specific locations where they can be found. Prada conducts very successful fashion shows and the fact that they have various products it is easy to incorporate the eyewear alongside the clothes (Cusumano, par 19). The public relations strategy that Prada has is very effective on its consumers where actors and models that are on their runways also appear in the campaign's advertisements making the impact quite strong (Cusumano, Par 19). Well, known magazines, like Elle and Vogue, do advertisements for them, and that ensures that the customer base of the rich people is also captured in the process. The Prada team also took part in initiatives to safeguard the environment and create breast cancer awareness in Milan creating a soft spot for the brand in the client's eyes which is an excellent strategy for promotion. Personal sales for Prada eyewear usually take place in the retail stores and the fashion shows. Prada is known to offer a few sample sales to its elite customers as a consumer sale promotion. Through such noble causes, they can advertise their latest collections. Offering price cut-offs for the clients is also one of the regular consumer sales methods they use for their eyewear, and it works well as many look forward to the discounts.

Conclusion

The Prada brand has made a mark on its target market through strategically placing their products and marketing them well. The incorporation of tradition and technology has been a trade mark on the brand and has classified their clients as unique and outstanding. The Prada aviator sunglasses have a lot of competition considering other brands also carry the design, but they have been able to make their mark and outline a niche in the market that is specific to them.

_x000c_Works Cited

Cusumano, Katherine. The '70s Are Alive and Well at Prada's Fall 2017 Collection. https://www.wmagazine.com/gallery/prada-fall-2017-milan/all.Accessed 15 Nov 2017.

Rhaman, Amina. Seghal, Ashley. Salim, Hamza. Ali, Madeeha. Goyal, Pulkit. Omar, Shah & Agarwal, Shainal. Strategic Marketing Segmentation Report. 2017, https://www.scribd.com/doc/30282164/market-segmentation. Accessed 15 Nov. 2017.

November 09, 2022
Category:

Life Literature

Subcategory:

Lifestyle Architecture

Subject area:

Fashion Design Understanding

Number of pages

11

Number of words

2833

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