Target Marketing Research Assignment Paper: Gucci

Target Marketing: Gucci
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Target Marketing: Gucci
Gucci was founded by Guccio Gucci in the year 1921, in Florence as a result of the inspiration h got from the high end patrons of Savoy Hotel in London during his employment as a liftboy. He developed a vision was to link craftsmanship of the local Tuskan artisans and the elegance he had observed keenly (guccippr.blogspot, n.d). It is family owned and has control in two important market segments: sports & lifestyle and Luxury. This paper seeks to discuss closely the targeting options of Gucci and the strategic choices they have in the luxury market.
Gucci target market
Gucci’s target market has been the middle and upper-middle class women. Gucci is well known globally for their positioning concept as a leading market player in the high-fashion industry. The most specific target market is for luxury and high-class. The company is able to differentiate its market offer by the use of their distinct GG logo and Horsebit icon. The most outstanding statement that Gucci uses is that one of “Made in Italy”. This gives it the much adored status in the luxury market, especially the three stripes (red and green). Gucci has greatly expanded across the globe at a very steady rate by targeting the wealthy, celebrities, the upper class and the fashionistas. By so doing they consider the finance aspect of the demographic variables in their choice of clientele. The company has utilized the age and sex as demographic factors to segment and target the clientele in the sense that they target both women and men who are in the age bracket of 20-50 years. The most interesting aspect of their market growth is that they have also included the children’s collection. Regarding the race, they are global which means they have factored in the element of multi-cultural influence, for example their expansion to Asia which has a different cultures all together (guccippr.blogspot, n.d).
Evaluation of Gucci’s targeting correctness
For the sake of expanding their market coverage, I concur with Gucci’s strategy. To begin with, they have a major focus on the wealthy and mighty in the society and as such their name has become such a household name that everybody in that segment wants to be associated with the Gucci brand. Secondly, they have expanded to a new segment of the children’s wear. For sure the celebrities have children and as such they would want all their children to be dressed up to that set standard. By so doing, they already have a new market which will definitely make them expand in sales. As for the w...