Prada Marketing Mix: Prada has a connection to the retail and lifestyle business since it is a clothing and accessories retailer. It is a publicly traded firm with Italian origins. The highly acclaimed brand was established in 1913 by the founder Mario Prada. Its label has gained international fame and recognition for its quality items.
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Marketing Mix Of Prada
Marketing Mix Of Prada is brand-based. In Marketing Mix Of Prada, We will Learn About the four key elements of Marketing Mix: products, place, price, and Promotions. By paying attention to the following four components of the marketing mix, a business can maximize its chances of a product being recognized and bought by customers. We will be discussing Prada Marketing Mix. Below is the detailed Marketing Mix Of Prada.
Let’s talk about Prada Marketing Mix.
Prada Main Competitors
- Zara
- Gucci
- Ralph Lauren
- Christian Dior
- Burberry
- Chanel
- Versace
- Hugo Boss
- Valentino S. P. A.
- Hermes International
- Louis Vuitton
Prada’s official website: www.prada.com
Product in the Prada Marketing Mix:
Prada is a well-known brand that offers modern collections. Prada’s fashions are famous worldwide due to their distinctive designs and high quality, with a particular focus on primary colors, luxurious fabrics, and simple lines.
The company is geared towards both women and men and has clothing and accessories for both. It also has created a line of clothing specifically for children and a product collection known as the Miu Miu line for the younger generation. In the year 2000, Prada unveiled its eyewear collection. Prada provides a lifestyle and sports collection under the brand Linea Rossi. The company has signed an agreement of partnership with LG Electronics, which has launched mobile phones such as LG Prada 3.0, LG Prada II, and LG Prada. Its kit of products includes
Fragrances
In 2004, Prada began its fragrances collection, which includes
- Prada for women
- Prada Amber pour Homme
- Tendre for women
- Infusion d’Homme for men
- Infusion D’Iris for women
- Benjamin for women
- La Femme Prada L’eau for women
- La Femme Prada Intense for women
- La Femme Prada for women
- L’Homme Prada for men
- Men’s L’Homme Prada Intense for Men
- Prada Candy for women
Prada Apparel
- Prada Feather-embellished Silk-Twill Robe
- Prada Feather-trimmed cardigan
- The Prada Feather-trimmed denim with a boyfriend cut
- Prada Feather-trimmed crinkled silk-chiffon straight-leg pants
- Denim Jacket Prada, trimmed with feathers
- Prada Feather coat
Prada Footwear
- Prada Bow-embellished leather and canvas slingback pumps
- Prada Suede ankle boots
- Prada suede mules
- Prada Patent leather platform sandals
- Prada Velvet platform sandals
- Prada Glossy textured-leather pumps
Prada Bags
- Prada Cahier Leather shoulder bag with quilted pattern
- Prada Belt Bag in leather with a quilted design
- Prada Giardiniera printed canvas tote
- Prada quilted leather camera bag
- Prada Pionniere’s leather-trimmed, velvet shoulder bag
- Prada Withallet with a chain with a textured leather shoulder bag
Prada Accessories
- Prada Suede belt
- Beads-trimmed wool scarf
- Prada leather gloves beaded with embellishments
Prada Beauty
- Prada Large gingham-covered leather case cosmetics case
- Prada Vela textured leather-trimmed shell cosmetics case
- Prada Gingham canvas cosmetic case
Place in the Prada Marketing Mix:
Prada has established itself worldwide and is headquartered in Milan, located in Italy. The initial Prada boutique was established in Milan in 1913. By 1983, its growth plans comprised boutiques in New York, Tokyo, Paris, London, and Madrid. In 2012, Prada opened its most prominent boutique in the mall of Emirates situated in Dubai. The brand also has opened boutiques across Hong Kong, Germany, Austria, Canada, India, Indonesia, and Australia.
Prada recognizes the importance of expansion plans and communicates with customers through its flagship stores, {Prada Epicentres. Famous architects have created the stores to give a distinctive Prada experience to its most discerning customers.
Prada has six hundred and eighteen outlets located in malls, megastores, and multi-purpose structures across the globe. Prada recognizes the significance of shopping online and provides its customers through its online store.
Price in the Marketing Mix Of Prada:
Prada is a well-known fashion house that sells expensive products. In the fiscal year 2016, the company recorded earnings of 3.91 billion US dollars. Prada has established itself as a renowned fashion label with a high-status emblem. Prada has focused on women, men, and children of upper-class urban families for its top-quality merchandise.
Prada is a brand with solid value and has established a premium pricing approach for clients. The client list includes royalty models, dignitaries, celebrities, and actors. The brand is known for charging astronomical prices for its products; however, they’re a massive hit because consumers are keen to have a connection with such a prominent brand.
Because its customers belong to the elite class for which money is not a factor, the company has achieved success by implementing its price-based prices policy. Sometimes, it caters to its customers by creating custom items priced at the highest prices.
Promotions in the Prada Marketing Mix:
Prada is a prominent brand presence in the global marketplace. It has implemented various advertising strategies to build and maintain the brand’s name. Prada was associated with celebrities and notable personalities, many of whom have appeared in commercials. The models featured in the ads comprise Sasha Pivovarova, Vlada Roslyakova, Ali Stephens, Suvi Koponen, Vanessa Axente, Gemma Ward, and Daria Werbowy. The collection for men is more masculine. The brand has included models and actors such as Norman Reedus, Emile Hirsh, Adrian Brody, and Gary Oldman.
The aggressive advertising strategy involves ad campaigns launched in magazines, newspaper hoardings, television, and other media. Advertisements are featured on the pages of Elle and Vogue and are viewed by a different audience. The company’s official website comes in handy for promoting its products, launching campaigns, and providing brand and related information.
Prada has received numerous distinctions and awards. In the case of its fashion accessories, Prada was awarded an award from its Council of Fashion Designers of America award in 1993. In 1995, the company was awarded the highly coveted designer of the Year award. In 2017, as part of an agreement with sponsors, it was announced that Prada would be hosting sponsors in the 2021 America’s Cup for Challenger Selection Series. Prada is an event host for the season in the arena of international repute.
In 1988, the brand participated in its first fashion show for women, and later in 1993, it introduced a menswear collection. As part of its promotion strategy, Prada held an art gallery that traveled the world, which helped in establishing relationships with customers directly. Prada is aware of its social responsibilities and participated in a charitable event aimed at Breast cancer prevention.
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