Overview of Research on Brand Identity

Brief description of Louis Vuitton

Louis Vuitton is a French fashion house dealing in luxury retail business. Its products include luxury trunks, leather goods like shoes, watches, jewelry, accessories, sunglasses and books etc. This company was founded in year 1854 by the Louis Vuitton. It operated in around 50 countries with more than the 460 stores in all over the world. In Louis Vuitton, there are around 121,289 staff members working. This organization has secured generous market share in limited market in it operated. Its services are for the niche market of the high end consumers. The revenue of this company was €53.7 billion. Want to get Assignment Samples?Talk to our Experts!

Research Aim

To evaluate relationship between brand identity and customer retention: A Case study of Louis Vuitton.

Research Objectives

• To examine strategies adopted by Louis Vuitton for making relationship in between brand identity and customer relationship.
• To understand core aspects related to the concepts of Brand Identity and its relationship with retention of customer.
• To identify challenges being faced by Louis Vuitton in maintaining relationship between retention of customer and brand identity.
• To provide recommendation to Louis Vuitton for gaining competitive advantages in the market place with high customer base.

Research Questions

• Which strategies as adopted by Louis Vuitton will make relationship in between brand identity and customer relationship better?
• What are the core aspects of Brand Identity and how it affects relationship with retention of customer?
• What are the challenges being faced by Louis Vuitton in maintaining relationship between retention of customer and brand identity?
• Any recommendation to Louis Vuitton for gaining competitive advantages in the market place with high customer base?

Rationale of Research

It is very important part of the research because it helps readers to evaluate the reasons due to which researcher has conducted the study. Further, it justifies the significance of the study. The reason of conducting study on analyzing the relationship between customer retention and brand identity is that, it is the current buzzing topic in this business world (Abeysekera and Dawson, 2015).

Industry Rationale- As Louis Vuitton company deals in the fashion industry and it has large number of the competitors such as Fendi, Coach, Michael Kors, Prada and Gucci. The research provides understanding that, a strong brand name of the business helps to create positive image in the mind of clients. It helps to retain loyal customers in the company for a long period. Another reason of choosing this topic is that, researcher has personal interest to gain understanding of the strategies that help business to understand the relationship between customer retention and brand identity. Louis Vuitton is one of the leading luxury product group, revenue of €53.7 billion and 15% organic revenue growth was 10%.

Figure 1: Louis Vuitton is the World's Most Valuable Brand

(Source: Louis Vuitton is the World's Most Valuable Brand)

Personal Rationale- The Researcher wants to enhance the knowledge in respect of the chosen topic. The researcher performs the study on identifying the barriers or challenges that are faced by the organization for maintaining an effective relationship between brand identities and retaining loyal customers in the business. Another major reason behind performing the study is to gain an understanding of the concepts related with brand identity that is design, logo etc. and its relationship with customer retention in the business. One of the major purposes behind performing research on this topic is to provide recommendations and steps that will help company to secure competitive advantage against competitors by developing large customer base. The rationale of research helps in provides the reason behind conducting an investigation. Present report is taken into consideration on the evaluate relationship in between brand identity and customer retention (Li and et. al., 2018). From performing the present investigation, learner can able to get the knowledge regarding brand identity and also customer retention in detailed manner. The brand identity helps in make the image of an organization strong and also retains the consumers at market place. An investigator conducts a study to identify the obstacles or difficulties which the company faces in order to establish an efficient partnership between brand identity and retaining loyal customers in the sector. Other than this, for personal interest learner conducts the investigation because from this it can able to gain the better understanding and enhance knowledge base in a better manner.

Also Read- Research Proposal for New Product Launch

Research Structure

As per the proposal made, following is the structure which has been followed for making research proposal:

Chapter 1 – Introduction

In this chapter, a brief introduction about the relationship in between brand identity as well as retention of customer group strategy in relation to Louis Vuitton will be defined.

Chapter 2 – Literature Review

As per the point of view of different authors, critical analysis will be done for evaluating relationship in between brand identity and customer retention strategy of Louis Vuitton.

Chapter 3 – Research Methodology

This part of research proposal will define, that what type of research study is conducted along with research approach, philosophy used. Also, it will define about sampling, data collection as well as analysis process. Furthermore, explanation related to ethical consideration and limitations being faced by researcher in completing this research study will be made (Ciunova-Shuleska and et. al., 2017).

Chapter 4 – Time line

In this chapter, explanation related to the minimum time frame within with the whole research study will be completed has been defined.

Research Significance

The term significance plays an important role in the context of research. The present research is very important for the researcher because it helps to improve the knowledge of the researcher in respect of the relationship between customer retention and brand identity. It also helps the researcher in academic career. This research will also be helpful for the company that are operating their business in similar industry to develop the strategies that helps to maintain relationship between brand identity and retaining loyal base of clients in the business. The research will also assist in convincing other people in respect of the problem of the study. Further, it also helps to convince the readers of research the importance of the study and also the competence of researcher (Norris, 2015). Also, this research can be used by the competitors within the same industry as they also have the same working, and they will also benefit from the concepts of brand identity for attracting more and more customers. Major significance of conducting the study on this topic is for other research scholars as this study will help them to perform similar research studies in the future. Moreover, it will help to save time and cost of other researchers. They can use this as a base for conducting own study and can continue with their own research. The study will also help students to prepare projects on similar topics.

CHAPTER 2: LITERATURE REVIEW

Literature review refers to a detailed review of previous work on the subject. This helps in giving theoretical contribution to particular field of study. This research part assists in presenting readers about ideas and the information that has been built on the subject. This part of the study is focused on the secondary data collection system. The sources to collect information from secondary sources are books, articles, journals and others (Madziwa, 2016). It is easy for researcher to collect information from using secondary sources within specific time period.

Strategies adopted by Louis Vuitton for making relationship in between brand identity and customer relationship

As per opinion of organisational branding is explained as practice of promoting brand name of organisational entity as opposed to particular service or products. Activities that go into organisational branding are varied from the service and product branding due to scope of organisational brand is much wider. Corporate Branding is an action of using the company's brand name as part of the overall promotional campaign and contact to stakeholders. It is the intangible attitude and spirit behind the business that gives it a distinctive reputation in the market and in the minds of customers. It is a much wider term compared to the marketing of the company's goods and services.

According to opinion of Natalie Duyne (2020) Brand identity refers to image what an organization wants to project in mind of customer. It is totally control through an organization opposite to the brand reputation which gets formed own its own. This is feature related with particular organization, service and product through which this is expressed to world and differentiates it from the other organizations, services and products in similar area. Brand identity is a unique to be holder of similar and mainly used to communicate with target Market by different branding as well as marketing strategies. On the other hand, customer relationship is development of ongoing connection among an organization and its consumers. Relationship consists Marketing Communication, technical assistance, customer service and sales support for desktop relationship is mainly measured through degree of satisfaction level of customers by purchasing cycle and also following the receipt of services and products. Louis Vuitton focus on developing the better and positive relationship with its customers by providing them high quality of services and products so that their needs can be satisfied and they can sustain for long period of time. The strong brand identity helps in attracting the customers and develops the positive relationship with them.There are different strategies given below which used by Louis Vuitton for making the relationship in among brand identity and the customer relationship:

Promote Engagement by Content Marketing- Although traditional methods of advertising may still be valuable, trying to convince people about product exists, and maybe hitting an emotional chord but content marketing offers and the consumer a different kind of value. When focus on the relationship marketing, content should be helpful for audience to get the more services from Louis Vuitton.

Develop promotional strategy- This helps in develop the social media presence by using appropriate channels to interact directly with target audience on Twitter, Instagram and Facebook. These all things help Louis Vuitton to develop the content marketing which states to company about the content to communicate with the target audience (Venkatesan, 2017). Ask to Research paper help from our professional experts!

Challenges of branding

There are some challenges of branding mention below:

Brand knowledge- Brand become strong and should connect with brand note in mind of consumers. The brand knowledge is a brand node that has been linked to a number of associations. It includes the brand name, the branding feature, other brand advertisements, the product type, evaluation reactions to the brand and advertisement.

Financial challenge- Under this, there is a need to company to arrange the sensible budget to branding and for marketing of product. It is necessary consideration to aware the people about product.

On the other hand, Avinash Chandra (2020) states that Branding is not easier for an organization. According to his opinion that branding is not about giving name or attractive logo, it is more challenging tasks for company. He thought that branding is challenge of cash or dealing with the short term finance. It requires more investment. Other than this, consistency is also a main challenge of branding. There is a need to keep message consistent across all time, media and platforms. This needs keeping brand revenant through searching the new ways in order to articulate massages so that this stays more consistent.

Core Aspects related to the concepts of Brand Identity and its relationship with retention of customer

On the basis of brand identity is authenticity and essence of any brand. It included unique set of the brand associations which organization works to developed in market. Visible components of a brand for an instancename, design, colors, logotype and symbolwhich together determine as well as differentiate brand in consumers' mind.This association portrays what brand is and it related promises to consumers. It is that image which an Organization wants to project in mind of customers. Steam from company that is responsible for developing differentiates products with the unique characteristics. A company communicates its identity through customers by is branding as well as marketing strategies. In the brand identity is bundle of the functional and mental associations with brand. It is total promise that a company makes consumers brand can mainly be perceived as products, set of values of a personality that occupies in mind of customer as it is all that a company wants brand to be considered as.

According to Neil Patel (2019) customer retention is explained as activities as well as actions which an organization takes to minimize number of consumer’s defections. The main goal of customer retention is to help organization to sustain large number of customers and make them loyal towards company. The customer retention helps and organization to enhance its sales as well as productivity. In context to this, the brand identity helps to make image of form better in able to retain the customer for long period of time at market place. On the other hand, customer retention begins with contact a company with its customers and also continues and lifetime of relationship with existing consumers. The measurement of the customer retention should be differentiating between the actual customer behavior and behavioral intentions (Simarmata and et. al., 2017).

Importance of customer retention

On the basis of Josh Chapman (2020) Customer retention concept in marketing is process of influencing existing customers to keep buying goods or services from company. The customer retention helps in enhancing the brand value and the reputation of company. It is helpful in developing the positive relationship with customers. The impact that current customers will have on the sales is one of the key importance of customer retention. If a consumer has used Louis Vuitton services before and has had an excellent customer experience, they are much more likely to come back in future.

As contrary to this, Ian Varley (2019) said that Customer retention is related to profit of business. He stated that 5% enhancement in customer retention generated more than 25% enhance in profit level. That is because consumers purchase more from a business over time and high operating costs over time. Therefore, loyal clients will create recommendations for the company more likely. Improved retention of clients should be a priority for business owner and needs nothing more than outstanding customer service for a well-defined target audience.

Challenges being faced by Louis Vuitton in maintaining relationship between retention of customer and brand identity

The aid of a positive brand image as created by the company's effective brand identity campaign, this makes consumers improve their buying decisions. Brand image also represents the overall value of the company's brand in the eyes of its global customer audience. As Louis Vuitton is a large size organization and it provides goods in all over the world. It has a strong brand identity with loyal customers. This company provides its goods or services at high cost so only the high class people can afford its goods. As Louis Vuitton is successful brand but it does it give the better retail experience that fulfils requirements of customer? The issue that Louis Vuitton faced in maintaining relationship between retention of customer and brand identity are aggressive service that makes customers feel disturbed, poor shopping environment, long waiting time for the process of shopping, incomplete product range and many others. These all issues develop the negative impact on mind of customers and negatively impacted the productivity of company. This also affected the customer’s retention at market place. It is necessary to Louis Vuitton to focus on removing all the issues so that customers make trust on company and also make loyal to it (Mahmoud, Hinson and Adika, 2018). Other than this, with the help of a better brand image as formed through successful brand identity message from the company, it helps customers in changing their purchasing decisions the brand image also reflect the overall performance of the company's brand in the eyes of its customers group across the globe.

Challenges in employee retention

1. High competition and attractive marketing strategies of competitors

2. Low priced market place such as online shopping platform like Amazon etc. (Homburg, Jozić and Kuehnl, 2017).

3. Poor marketing as well as promotional strategies of company.

Factors

• Challenges-Following are some factors which affect brand identity physical appearance, personality culture, self image of consumer, reflection as well as relationship with customer. Such factors define the brand identity as well as limitations within which company is free to change, develop such brand.

• Types of customers

Customers plays a necessary role in business. For understanding the behavior of customers and allocate the better resource to various consumers, this is important to determine and segment the various kinds of consumers. There are different kinds of customers given below:

Price buyers- These kinds of consumers wants to purchase the services and goods on low cost. They are nor more concerned regarding relationships and values.

Need based customers- A specific need determine requirements for customers. In other words, these kinds of customers quickly enter the shop, buy required items and leave. Such consumers buy and are hard to up sell for a particular need or event. It is important to remember that consumers based on preferences will easily be attracted to other firms.

Relationship buyers- These customers are committed to trust and to maintain good relationships with their providers.

For making high profits in the market place as well as for acquiring large share, it is very much important for Louis Vuitton to target its audience and customer in market place (Bilgihan, Kandampully and Zhang, 2016). By delivering quality products to its customers across the globe, Louis has been able to make large profit as well as customer base. Its customers mainly include women, girls across world.

Recommendation to Louis Vuitton for gaining competitive advantages in the market place with high customer base

According toJared Lewis(2020) Competitive advantage refers to condition that puts an organization in favorable business position. It is gained through providing the consumers Great Value through means through means of less cost for giving high benefits which can satisfy the needs of customers. In order to gain the competitive advantage at market place there is a need to company to provide the better value to customers. Competitive advantage is quality that makes it possible for a firm to outperform its rivals. This helps a firm to reach superior margins relative to its competition and creates value to the business and its shareholders. There are some ways given below by which Louis Vuitton can get the competitive benefit with the high customer base:

• Company should use the cost leadership strategy and this is mainly achieved by the large scale production where Louis Vuitton can exploit the economies of scale.
• Louis Vuitton can use the defensive strategy because this allows business to distance itself from competition and also maintaining the competitive benefit.

Critical review

As per the view point of Kahn, Inman and Verhoef, (2018), for a company to capture large market share it is very much essential to formulate sound business plans as well as strategies. By adopting and designing an appropriate as well as effective brand identity message, Louis Vuitton can attract large number of customers. Also, this adds to creation of positive brand image among the mindset of its targeted market audience and other customer group across the globe. For maintaining the relationship in between the brand image of the company and customer loyalty base, it is very much essential for the company to deliver proper message so as to enhance its customer loyalty level on the actual basis. Furthermore, the brand image of the company reflects the performance of company or brand identity from the point of view of customers which is considered as the key issue to make judgment about the performance of brand identity (Arora and Kaur, 2018).

However on the critical note, Magatef and Tomalieh, (2015) stated that for maintaining brand image every business organization is required to incur some cost expenses. Also, it has been evaluated that there are no specific theory which are concern with the relationship as existing in between brand identity and customer loyalty base of the Louis VuittonCompany. For maintaining such relationship it is very much important on the part of the company to formulate an effective strategy as well as plan related to the subject matter. Also, it has been identified that if the company is having a desirable image, then it will lead to high level of customer satisfaction and preference but on the flip side with an undesirable image it can result into dissatisfaction which means there is positive relationship in between the brand image of company and customer satisfaction.

CHAPTER 3 - RESEARCH METHODOLOGY

The term research methodology is defined as a systematic plan with the help of which the researcher undertakes its research study in an effective as well as successful manner. It states the manner in which data will be gathered and its analysis process, sample size chosen etc. The research methodology is helpful in providing the better tools and techniques for collection along with analyzing the data in a significant manner (Muhonen, Hirvonen and Laukkanen, 2017).

Research Source

The research sources are those which help in collecting the data and information for completing an investigation. For completing this research study, the researcher has beenmaking use of both the primary as well as secondary sources of data collection process. With the help of primary method, researcher has been able to gather information from different sources such as telephonic interview, questionnaire, survey etc. It is pure and in its original form as collected by the researcher itself and such research study is based on raw data (Kumar, 2019). On the other hand, in case of secondary method, researcher makes use of information which has been already analyzed as well as interpreted. The secondary data basically includes books, articles, journals, newspaper, annual reports etc.

Definition

• Research method – The term research method is defined as a strategy which can be used by the researcher for successful implementation of the research plan made. The method to be chosen for completing research study depends on the aims and objectives as framed (Willis, 2019). Many scholars as well as researchers makes use of different types of research methods such as observation, survey, interviews, analysis of secondary data etc.

• Research design – It is a plan or structure which has been used by the researcher in conducting of research study in successful manner. With the help of research design, it assists the researcher in answering all the research questions appropriately so as to obtain a meaningful conclusion. There is descriptive, explanatory and experimental research design. In the present investigation, descriptive research design has been used because this provides the detailed explanation regarding the subject area (Chahal and Bala, 2017).

Research Theories

Primary research - Is known a first handed information which is pure and in its original form which is collected by the researcher itself. The main aim of gathering primary data is to receive its authenticity as well as reliability features of data as it has not under gone any statistical means before. Example of primary data includes: Questionnaire prepared, survey, telephonic and personal investigation (Marttila, 2017).

Merits

It assists researcher in assessing to original data form as required for its conducting such study (Bresler and Stake, 2017). There are different methods of conducting primary research such as questionnaire, survey, interview etc.

Demerits

The process of primary research is considered as one of the most time - consuming process in relation to data gathering. Another demerit is related with the large amount of cost expenses incurred for carrying on such research.

Secondary research – Are those data which are collected by the researcher with the help of published sources or which has been already published somewhere in the article, book etc. It can be used by the researcher in conducting its research successfully as it is already analyzed with the help of statistical tools and methods (Rahi, 2016). The secondary data includes books, articles, journals, newspaper, annual reports etc.

Research methodology

• Research type: Research is a process of making in depth examination or survey of a particular phenomenon so as to make a conclusion. The research study basically includes two types viz. Qualitative and Quantitative. The researcher has been used Qualitative method as is related with gathering of non numerical data and considers characteristics, symbols as well as description of research topic.

• Research philosophy: It depicts about ideas, thoughts related to the subject matter of research topic and areas where such research to be conducted to get more valid research. It includes two types of methods such as Positivism and Interpretivism (So and et. al., 2017). In this research study, researcher has been made use of Interpretivism method so as to interpret data and get more accurate results. Also, it will integrate human interest related to the study and provides a base for decision making process.
  • Research approach: It is related with making of proper plans and defining of procedure for conducting research study properly (Silverman, 2016). It mainly includes two types such as Inductive as well as deductive method. Inductive method has been used as it provides deep analysis, examines and helps in gathering of information from internal sources.
  • Sampling: For a researcher, it is very much difficult to gather data from large population as a result of which sample has to be selected out of it. This process is known as sampling. Here, researcher has been made use of random sampling method so as to collect relevant sample information from random people. This has beenprovided a base to identify review or thoughts related to the subject matter of research topic. Researcher has been select 60 customers of Louis Vuitton for the purpose of sampling as well as for gathering of relevant data to collect data from using questionnaire (Rather, 2018).
  • Data collection: For gathering more appropriate as well as relevant data related to the research topic it basically includes two methods viz. primary and secondary. The primary method is related to gathering of information from original sources while secondary method will be used for gathering information from already available sources. In case of qualitative research study, the researcher has been applied both the methods so as to conduct the research study in more effective as well as meaningful manner. Also, it has been ensuring that collected data is of relevant and reliable nature which is not collected by any other authors yet in their research study completion. There has been questionnaire developed for collection of data (Carrizo-Moreira and et. al., 2017).

• Data analysis: This is a process by which knowledge obtained using an analytical or statistical approach can be evaluated more efficiently and effectively to make better business decision-making. Data and information has been gathered through primary sources in the sense of current research and analyzed by thematic analysis and interpretation of themes.

Ethical Consideration

Ethics consists of rules, values and principles that contribute significantly to the operation of the company. It is an investigator's duty, as a matter of course, to collect information from the primary and secondary data. Confidentiality, honesty, objectivity, transparency, privacy etc. are the ethical principles which should be followed through an investigator while conducting an investigation.

Research Limitations

For conducting this research study in successful as well as effective manner, the researcher has to face number of limitations. By making appropriate plans and strategies, the researcher is having a chance of overcoming its limitations factors. There are number of factors which have been limiting researcher ability to successfully complete this research study which includes factors such as lack of financial resources, time constraints, unavailability of appropriate as well as accurate data and information (Han and Hyun, 2015). All these factors are hindering the working of a researcher for which researcher is required to take appropriate measures. In case of lack of funds, by making use of already available articles, journals as well as research projects it will assist researcher in completing their study related to the subject matter of the research topic. Also, by making use of such sources of data, it will save time factor of researcher as well. Ask for assignment help from our experts!

Timeline

With the help of time line, researcher can easily assess the minimum time frame within with the whole research study will be completed. It thus assist researcher in making plans as well as strategies related to measures to be undertaken if required for completing the whole research study in successful as well as effective manner (de Paula and Chaves, 2017).

CHAPTER 4: DATA PRESENTATION AND ANALYSIS

Frequency table

THEME 1: Connected with the brand according to its brand identity

Interpretation: There are some reasons behind sustaining the Employees for long period of time at marketplace. 25 respondents said due to the cost of Louis VuittonsCompany they are sustain in this company. On the basis of their opinion that cost of this company is better and it is according to the quality of goods which company offered. 20 respondents said that it provides the high quality of services so they can satisfy their needs and requirement. Quality is one of the main components that each and every customer wants to satisfy the needs and preferences. As per their opinion that if the quality of product will be better then they will buy the products and services from company. On the other hand, there are 15 remaining respondents according to them this company is most trustworthy and better at providing the better customer services. Trust is main factor that customers want from company. The main focus of Louis Vuitton is on providing the services and products according to customers need as well as requirements. Along with this, company provides the better customer services to consumers which face any kind of difficulties and complexities in its products.

THEME 3: Factor you consider within a brand while purchasing its products and services

Interpretation: There are some main factors which need to consider through customers with brand while buying its services and products. There are 30 respondents which said that brand value between the customers is a main factor for if the value of brand will be better then customers will be attracted towards it. As per opinion of 20 respondents that goodwill of company is more important because if the reputation of an organization will be better than large number of people will be attracted towards its product and services. 10 respondents areagreeing with providing high quality of services so that large number of customers can be attracted towards it.

THEME 4: Benefits you get with the brand identity of Louis Vuitton

Interpretation: There are some main benefits which customers get with brand identity of the Louis Vuitton. On the basis of 20 respondents that social status is important for them and it can get through brand identity of a Louis Vuitton. There are 20 respondents and according to their opinion that self satisfaction is more important than social status because if they are satisfied from the services of company then there will be the regular customers of company and this will help in enhance sales.20 remaining respondents and theysaid that high quality is a main factor and this satisfy the needs and wants of customer so it is major benefit that customers can get with brand identity of Louis Vuitton.

THEME 5: Brand identify of Louis Vuitton attract you to purchasing its products and services

Interpretation: On the basis of 40 respondents which said that brand identity of the LouisVuitton attract customers to purchasing its products and services. This provides high quality of services and products to customers so that they can attract easily towards it. The quality of this company is higher and provides the waterproof and fireproofbagsto its customers false true that there are 20 remaining lessons which are disagree with this statement with the cost of this company is higher and they are unable to find its services and product.

THEME 6: Louis Vuitton offers discounts or coupons on their products and services

Interpretation: On the basis of 45 respondents that Louis Vuitton provides the Louis Vuitton provides the coupons and discounts on its products and services. It provides discounts so that people can easily avail its services in products without getting any cost issue. The offers and the discounts are helping the company to attract the people and they will purchase the services and products in large quantity. There are 15 respondents which said that it does not offer more discount so that they can able to buy its services.

THEME 7: Perception towards brand of Louis Vuitton

Interpretation: The perception of different people about Louis Vuittons brand is different from the each other. There are 20 respondents and according to them which company provides high quality of products that they can able to satisfy their services and needs. Louis Vuitton is mainly known for providing the high quality of products and services. For this company, quality has always at core of its single products. In context to quality, bags of this company are durable and water proof. Louis Vuitton organization does not do the marketing as it develops the goods which are exception in their craftsmanship and design. On the other hand, there are 20 respondents which said that company needs to change its high price

Read more - Business Strategy and SWOT Analysis

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