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PRADA

International Marketing. PRADA. Morgan Baker, Stasia Bevard, Amy Gosalia, Jessica Lichty. Company Goals. To be a leading fashion label and sell high end products worldwide. To make PRADA products not only a brand but a piece of art.

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PRADA

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  1. International Marketing PRADA Morgan Baker, Stasia Bevard, Amy Gosalia, Jessica Lichty

  2. Company Goals • To be a leading fashion label and sell high end products worldwide. • To make PRADA products not only a brand but a piece of art. • To provide exceptional customer service and cutting edge technology.

  3. Corporate Values • A family company • “I love fashion, but I think it should stay in it’s place, not rule your life. It’s a very nice part of your life, but I think it should be fun.” -Miuccia Prada

  4. Positioning • The PRADA brand exhibits: • Elegance • Chic • Consumers buy PRADA when: • New fashion trends • Change of season • PRADA consumers expect: • High Quality • Class and wealth • Luxury • Prestige • Social Rank

  5. Marketing Mix PRODUCT • The PRADA line produces high-end ready to wear clothes and accessories for men and women in addition to a range of children’s clothes, fragrances, cosmetics and home products. • PRADA also has the Miu Miu line of products that are lower in price and targeted towards a younger demographic. • Linea Rossa is PRADA’S sports collection that features tennis shoes. • The PRADA brand is in the life cycle stage of maturity.

  6. PLACE Marketing Mix • 250 PRADA stores in 65 countries • Flagship stores in New York, Beverly Hills, and Tokyo • Headquarters in Milan • PRADA also sold in: • Online stores • Bergdorf Goodman • Neiman Marus • Saks • Halls • And many other stores around the world

  7. PLACE Marketing Mix • New York PRADA Store • Hired Dutch architect Rem Koolhaas to design the 40 million dollar store • The store was designed to reinvent the retail experience and reinvigorate the PRADA brand • “This store is an amazing piece of architecture and definitely has one of the most unique interiors of any store I’ve ever seen. But the layout suffers from it’s architectural innovation.” • Customer Review

  8. PLACE Marketing Mix • New York PRADA Store • Hired Dutch architect Rem Koolhaas to design the 40 million dollar store • The store was designed to reinvent the retail experience and reinvigorate the PRADA brand • “This store is an amazing piece of architecture and definitely has one of the most unique interiors of any store I’ve ever seen. But the layout suffers from it’s architectural innovation.” • Customer Review

  9. PRADA store in New York

  10. Marketing Mix PROMOTION • Fashion Shows • Fashion show production has become one of the most persuasive marketing tools used by the fashion industry today. • Magazines Ads • PRADA Ads are featured in many fashion magazines worldwide including Vogue and Elle. • Traveling Art Gallery • Miuccia Prada organized a traveling art gallery entitled “Waist Down” to display many of the PRADA skirts she designed.

  11. Marketing Mix PRICE • PRADA has many products with varying price levels • Purses: $400- $3,000 • Shoes: $300- $600 • Apparel: $200- $1000 • Sunglasses: $200- $300 • Fragrance: $50- $150 • Skin Care: $50- $150

  12. Approach to Innovation • Technology in the store • TI-RFID smart labels set up through out the store to identify merchandise, staff, customers and devices and link individual shoppers with information about their selections before they make a purchase. • The smart labels also help sales representatives stay current on the stores inventory and customers previous purchases. • The smart labels inside the dressing rooms provide information on the garment through a interactive video touch screen display.

  13. Approach to Innovation • PRADA cell phone • LG and PRADA merged to create a highly sophisticated cell phone that utilizes an extra wide LCD touch screen display. • Macromedia Flash • Document Viewer • Also Features • Music Player • Music Multitasking • Video Player

  14. Smart Label technology in dressing room PRADA Phone

  15. SWOT • Strengths • High prices • Brand loyalty • High quality products • Weakness • High price • Availability of products • Opportunities • To expand the product line by acquiring other labels • Threats • Competition from other fashion houses

  16. Questions? • What makes PRADA so appealing compared to other brands? • Do you think the high price of PRADA products is a strength or a weakness? • Why does PRADA make the flagship stores so unique and is this a strength or a weakness?

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