Introduction
Louis Vuitton, a French fashion house concentrates in lavish swimming suit, leather supplies, ready-to-wear, wristwatches, accessories, jewellery, shoes and books and is today a familiar brand name across the world. The brand name itself was a sign of prosperity and status as the business commands maximum recognition in the world’s fashion market for its goods. “According to this year’s Brands Top 100 report, a ranking by respected market analysts Millward Brown Optimor that identifies the world’s most valuable brands measured by their dollar value, French luxury conglomerate Louis Vuitton is still in the top spot”. (Louis vuitton still most powerful luxury brand).
The Blackberry is really a wireless piece of equipment produced by the Canadian business study business Research. This tool holds mobile telephone, net faxing, push email, and net browsing. These two companies together launched a mobile with Louis Vuitton’s brand and design. The Louis Vuitton phone description was aimed at receiving the Blackberry idea to achieve novel status and audiences for its mobile phones. Mobile phones turns out to have a progressive audience as it has grown to be a every day tool. “The Blackberry is actually a wireless handheld device manufactured by the Canadian research company Research in Motion” (Blackberry mobiles in India).
The House of Louis Vuitton Phone is known as Louis Vuitton cell phones. Due to its specialties almost all the luxury minded customers are attracted to this. This particular product offered its consumers a deep feeling for the first time when they saw it.
Cross Cultural Business
Blackberry’s well equipped Software is arranged for minute to average sized industries with avant grade businesses and up to 30 mobile phone staff. A Blackberry result is a total mobile result for the industries of the sizes, cross-cultural Performances have turned to be extensively noticeable in the corporate trade. Cross culture values of Louis Vuitton a French fashion company and Blackberry help synergiese their effect to perform and there by to attract new customers of the mobile phone. Also, these cross culture system provides ability, competence, knowledge, up to date technology and practice to fulfil the luxurious needs of the customer.
Blackberry offers a high-end, high-presentation phone planned to assist people to attain the success they want while being exposed to a complicated and talented picture. Environmental alertness is an essential division of Louis Vuitton’s civilization or culture. This is a modern space of cross cultural and creative outlook as these two companies might help to launch an attractive mobile phone together.
“Cultural differences can and do significantly effect project communications
Often leading to costly mistakes or misunderstandings and ultimately project failure”. (Brown & McDonough).
Regional economic integration
Among the agreement between Blackberry and Louis Vuitton, it helps to decrease and eventually take away, tax and non tariff and any of the other obstacles and helps in the smooth flow of all the resources needed for the efficient functioning of the production of new mobile phones. Regional economic integration also is one way of arrangement in which these two companies concur to manage traffic, economic and monetary plans. Economic integration among the countries comprises such devices as getting rid of tariffs, upward common markets, and generates currencies, which will maintain the marketplace and encourages further industrial strategies.
Regional integration can be defined on the bases of three scopes, such as,
- Geographic range demonstrating the number of states occupied in an agreement between Louis Vuitton and Blackberry.
- The substantive coverage activities like deal, work mobility, macro-policies, division policies, etc. among Louis Vuitton and Blackberry
- The depth of integration to calculate whether the amount of dominion in a state is ready to submit, that is from easy harmonization or assistance to deep combination among Louis Vuitton and Blackberry.
Politics, Law & Business Ethics
Politics, Law for commerce of the new business comprise of a set of necessary norms of behaviour. The core of law is that it gives instructions under danger of penalty or permit. Law and policies of the two countries may be different. In the case of Tax law all it needs is the imbursement of currency to the government and there is no alternative to this. So it is necessary to understand that adequate steps should be taken at the time of considering the amalgamation to produce a new mobile phone.” Integrating applicable laws and community ethical norms into business conduct executive
- To take fuller advantage of opportunities available to their businesses and,
- To manage the risks inherent in pursuing those opportunities.” (Nelson vii).
International trade
The business deal of the various goods or the inventory is called trade; the international trade is the trading of commodities done in a flourished market internationally. The mobile industry has the international recognition and a comparative analysis of the market.
The international trade refers to the merging of the distinct and emerging markets to the national place and making them into a huge market place. The falling market place in the country helps in boosting the international trade and in making the trade a success. Many of the markets are not the country markets that are suitable for the consumer product manufacturing.
According to the new trade theory, the argument was on increasing the returns to the specialization in the industry that may exist. if the international trade specifies the country selling of mobiles and if there are economies of the scale associated with the manufacturing of the mobiles, then as the output of the mobile phones the market expands and the cost per unit of the goods decreases. These are the conditions that the increasing to the return of the specialization and little of the diminished return leading to the high profitability and the increased revenue of the firm.
Marketing
The marketing of the firm deals with the buying and selling of the goods and the services. Marketing is the process of generating some ideas and making them practical and in the later stage promoting them. Marketers ability can be understood by analyzing the various kind of the demand generated for a company’s products, but this is too limited in views of the tasks marketers perform. As the production and the logistics are considered the organizations are responsible for the supply chain management and the marketers are responsible for the creation of the market according to the demand for the product in the market. The marketing managers in the organization should be responsible for seeking the influence of the demand, level and the timings of the organization with the demand that are in pace with the objectives of the organization.
So this structure offers various methods for making and executing industry’s decision and also due care should be given for all the legal, political and ethical aspects of the business undertakings. Tax and other procedures of the two companies may be different.So it needs for these companies to properly understand the customs and other procedures to manufacture the mobile phone.
A brand name for the new mobile phones
A brand name for the new product i.e., the mobile phone is a most influential tool for branding, advertising and publicity of the product. They started to manufacture a new mobile with Louis Vuitton brand and design. The brand name of the mobile phone is Louis Vuitton cell phone.”
“Cell phone makers have linked with famous fashion brand names to make charming, high end devices for the couture-conscious” (Brand naming: Mobile phones as fashion accessories).
Louis Vuitton has now vaguely experimented with the mobile manufacturing for a moment. Logo for the new Louis Vuitton cell phone is given below,
Logo
Advertising
Advertisement is a form of publicity of the new mobile phone. It contains all the features, characteristics, promotional activities and any of the other benefit associated with the new mobile phones. So the customer becomes aware of the product and started purchasing. Louis Vuitton cell phone is associated with almost all the features on the basis of the current trend. “Advertising is the only way that carriers can afford to add more content to their services, said Tom Burgess, chief executive of Third Screen Media, a company that manages mobile advertising for content providers and carriers”. (Reardon).
An elegant phone that authorizes customers to decide from a selection of choices.
Web page
Louis Vuitton and Blackberry are two well known companies and the synergetic effort helps to produce the most attractive mobile phones with the brand name of Louis Vuitton. The combined idea of Louis Vuitton and Blackberry helps to increase more profit as well as revenue. So we choose these two companies to produce a new variety of mobile phones. Cultural values and beliefs of the Louis Vuitton and Blackberry are different so it is necessary to understand about each country’s culture and advertisement as the mobile should be given on the basis of this. Otherwise it will create negative image in the mind of the customers in the area.
Louis Vuitton and Blackberry take their own effort to build a new technology to produce a product and the main effort is to increase the profit and get rid of competitors in this field. For a long time it was a sign of status and prosperity, the business commands a quantity of the maximum price in the world so that each company realizes their idea to produce a new mobile phone.
Identifying the target customer
A marketer can rarely satisfy everyone in the market, the tastes and the preferences of the people may vary according to certain factors, and therefore the marketers start dividing the markets, the market identification is done by various kinds of market segments. The market segments can be divided as demographic, psychographic and the behavioural differences among the buyers. The marketing persons must arrive to a decisions on the segment which exhibit the prevalent opportunity, for the concrete business.
For the each chosen market, the firm develops the marketing offering. The offers are taken granted by the suppliers and the buyers. The market is the place where the buyers and sellers assemble for various purchase transactions.
Economists portray the market as the compilation of the customers and end users who carry out profitable business in the market. Here, we concentrate on the mobile phones which are being manufactured and branded by the highly reputed firms in the market. As the product is highly technologically innovative, the research has to be conducted and various kinds of factors that are to be identified consist of the nature of the markets, motivation, attitude, preferences and intentions.
The consumer research is the main method to identify the market consisting of the people with money and the inclination to buy. There are three fundamental requirements for buying in the realized market, people’s income and resources. Therefore the possible method in the marketing is dividing of the market logically into potential and realized markets, based on the opportunity and the achievement of the standardized market is a positive symbol in marketing.
Market research
The study entitled as the new opportunities of the product in the commercial market, aims to identify and describe the buying behaviour and the global opportunity for the product. The consumers are the target segment in the fast growing technological market by the purchase behaviour towards the mobile phones in the new era. “Various methods of market research are used to find out information about markets, target markets and their needs, competitors, market trends, customer satisfaction with products and services, etc.” (McNamara).
The target segment in the UK market is predominantly existent as a powerful purchase base to every marketer. The study tries in highlighting the factors that describe the class within the chosen parameters.
Demography-Universe
The target segments are chosen as 15 in number, further subdivides as students and the working class. They are the respondents of the study, and referred as the consumers or the customers or the buyers. They are mostly from the middle class and the upper class irrespective of the caste and creed.
Objectives of the study
- To identify and describe the behaviour in the market place towards the mobile phones those enhance the buying behaviour
- To elicit the preferences in technology
- To identify the purchase habit, attitudes and cognition
- To observe and analyze the reaction towards price, quality and innovation
- To list the source of influence through the media ,with main concentration to advertisements
- To find the awareness of the existence of the technology in the current arena
- To probe into the motivation of buying.
Questionnaire design
“Questionnaires are the most common marketing research method. They are used for structured interviews, written surveys, and email and internet surveys”. (Survey and Questionnaire Design). Based on the concept from the theory and the objectives of the study, an exhaustive structured questionnaire was designed. It consists of both open and close ended questions so as to gather more suggestions as well as to get responses of the respondents into ordered categories. Appropriate techniques of sealing have also been incorporated in the questionnaire. (NOTE: Questionnaire in annexure)
Data collection
Mode of data collection was through the personal interviews, this method was chosen because of the researcher’s ability in meeting the respondents and clearing the doubts and in obtaining the specific data. The personal interview methods score above all the other methods because of the ease in handling. Objections or refusals for answering would result in the loss of reliability and validity of the data.
Analysis
Once the information was collected they are prepared for tabulations. This is done by the assigning of codes for the responses and observations. The raw data was classified and tabulated; the percentages were tabulated and calculated across the depended variable. Some of the qualified information is communicated through the graphical and pictorial representation.
Risk associated
“In business and government one faces having to make decisions all the time where the outcome is uncertain, uncertainty helps in better decision making.” (Vose 1). The certain risk associated with the projects are regarding the personal interviews were some persons had the reasons of giving proper information on the topic. The anxiety that the information and the data will be having publicity causes concern among the respondents.
Findings
The findings from the study shows that the rating of the product by the employees mainly depend on the branding and the awareness of the product, the main reason to be aware of the branding is the wide impact created by the advertisement media and the pricing is just the third factor found out in the buying behaviour. The age factor had played an important role in the selection of the brands and the features of the product. “The inclusion of a human face may unconsciously connect viewers with the brands being presented.” (Carlon, Ryan & Weledniger 11).
Conclusion
By the analysis of the new product development and the marketing of the same it can be claimed that in a fast growing cosmopolitan city, poised for growth, the strong impact of the media and efficient marketing could still make a head way to capture the target segment and this could eventually result in the success of the product in the market.
Annexure
Questionnaire section
Section 1:
- What is your name? ________________
- Your age? ___________
- Gender?
- Male
- Female
- What’s your job/title? _______________________
- Residential address? _______________________
Section 2:
- Are you aware of brands?
- yes
- No
- What kind of brands you prefer?.
- reputed
- middle
- Neutral
- Your mobile presently used are.
- less than one year
- more than one year
- New
- don’t know
- What do you first notice in an advertisement?
- design
- features
- celebrity
- messages
- what are factors prompting you to get a mobile
- brand
- essentiality
- Neutral
- as all others have
- Are you happy with your mobile, if so why?
- quality
- features
- design
- durability
- Why you want to go for branded mobiles?
- durability
- accessibility
- features
- design
- Which factor you notice during a mobile purchase?
- cost
- brand
- design
- durability
- How the advertisement has influenced in buying mobile? _______________________________
- Any other comments _____________________________
Works Cited
Blackberry mobiles in India. Infibeam. 2010. Web.
Brand naming: Mobile phones as fashion accessories. Strategic Name Development. 2006. Web.
Brown, Susie & McDonough, Michele. Cross cultural project communications. Bright Hub. 2009. Web.
Carlon, Michale, Ryan Marc, Weledniger Risa. The Five Golden Rules of Online Branding. Dynamic Logic. 2010. Web.
Louis Vuitton Wallpaper. Zedge. 2010. Web.
Louis vuitton still most powerful luxury brand. The Independent. 2010. Web.
McNamara, Carter. Market Research. Free Management Library. 2010. Web.
Nelson, Brian L. Law and Ethics in Global Business: How to Integrate Law and Ethics into Corporate Governance around the Wold. Taylor & Francis. 2006. Web.
Reardon, Marguerite. Advertising seeps into the cell phone. CNET News. 2006. Web.
Survey and Questionnaire Design. StatPac Inc. 2010. Web.
Vose, David. Risk Analysis: A Quantitative Guide. John Wiley & Sons. 2008. Web.