Market control in the Louis Vuitton Company's products.

 

 The main problem affecting the Louis Vuitton Company is the issue of counterfeits. Despite this, the products concertation in the market was as high as it was being sold to numerous department stores. This causes an overpopulation of LV products in the market, making the product lose its prestigious and luxury value in the market. Their failure to control the distribution market and the sales of their product was also one of the company's problems. Cases of overexposure of the product in the market were the key to reducing the products' value in the market and leeway for the product being copied. 

   The development of counterfeit products has affected the quality of their product and their price on the commodity. Similarly, the availability of counterfeits in the market has affected its income and revenue as it infestation the company's market and distribution channels.  The effects are felt more through loss of sales, thus affecting the profit margin by reducing the profit. This cause affects the production as the company tries to outdo the counterfeit in the market. This leads to over-production of products reducing the quality of the product.

The effects on the brand are more felt in reducing the brand perception of the brand image in the face of customers. Counterfeits affect the products' market as the customers feel that they are being deceived despite the original product (Marticotte, & Arcand, 2017). The effect to the Louis Vuitton Company was more pronounced as the customers failed to differentiate between the actual product and the counterfeits. This degrades the customer perception about the product, thus affecting the quality of the quality. Despite the high quality and durable product, the counterfeit involves creating negativity when exposed to the counterfeits.  The difference in the quality of the product between the original and the counterfeit causes the customer to lose faith in the luxury brand, thus affecting the market of Louis Vuitton. Despite the negative effect on the brand, the counterfeit, if outdone by the original brand, can help the business create product awareness.

To counter the effects of the counterfeit in the market, Louis Vuitton Company imposed various policies on their product to reduce the impact of the counterfeit on the brand. First, the company increased the product's price to help the customer understand that the brand is luxurious thus should be obtained at a higher cost than the counterfeit (Kasztalska, A. M. (2018). The price increase was an indication of the quality of the product allowing the customers to differentiate between the counterfeits and the original product in the market. The company took control of the distribution channels as the product from Louis Vuitton Company are sold in stores controlled by their employees and managers.

The increases in the price of the company's bags and other commodities were a means of outdoing the counterfeits and a strategy to make the brand luxurious. The low prices of the commodity had diluted the market, making the products from Louis Vuitton a standard product in the market. To maintain the top quality of the product and make rare to the customer the increases in price and the control of the market and distribution channel was the key to making the brand a luxury. It also helps in reducing the population of LV products in the market, making the product rare and thus hard to copy.

 In the attempt to reduce the brand's overexposure that creates the chance for the counterfeits to get the details about the product, the company had to control the market and price of the products. LV company has ensured that celebrities and supermodels' marketing is done (Keerakittiwat, 2020). This helps them prevent overexposure while also helping keep the brand prestigious on the face of the customer. It also helps in branding the products as luxury products, thus explaining they are rare and making their high price justifiable The rare nature of the product allows it to stay fresh in the market for a long time as most people cannot access it readily, thus remain at the top of the market.

The primary strategy of controlling the LV Company's product problems is through monitoring and controlling the market of their products. This can be ensured by maintaining the product's sales in the market by owning the department stores where the products are being sold, thus making it rare (Heikkinen, 2020). This will help reduce the cases of customers buying counterfeit products from the company's stores. Controlling the market ensures the product quality is not diluted by the counterfeits in the market, thus ensuring the brand name and image in the customer's mind is a commodity of a high-quality product. The increase in the price also helps in making the commodity rare and prestigious.

Recommendations.

The high commodity price has brought about the product perception as high quality and thus luxurious but has also reduced the sales of the product in the market. In determining the commodity price, the company should make sure that despite making the product rare, the current price is affordable to the people in the middle class to increase their sales. To ensure that the product does not face the same problem of being a counterfeit, the primary measure is controlling the distribution and the product market instead of raising the product's price. The rise in price makes it affordable to the high class only.

To ensure that the product exposure to viable customers is attained, the company should ensure that the product is available in the global market. The company should open up the market in other countries and states worldwide to allow the company to increase the sales and profit margin of LV products. The introduction of pricing as an advertisement is the key to ensuring the brand image in the market (Thomas, 2021). Using the supermodels in the advertising creates prestige and ensures the ads do not go beyond the company site. This will help in reducing the spread of the commodity to the counterfeits as they have limited information.

Justification.

The control of the market as done by the company has proven to be the best way to ensure that the company controls the market. The managers and employees in control of the department store ensure the customers do not buy the counterfeits from their stores. Market monitoring offers the company market analysis through the sales made in a specific duration of time. Similarly, it helps reduce the intermediaries that create the chance of mixing the original product with the counterfeits, ensuring the safety of the quality of the product. 

The marketing strategy through pricing helps ensure that LV company products' quality, prestige, and luxurious value is maintained. To ensure that the information provided to the customer is from the company, the advertisement means are limited to the company marketing through models, ads done by the company. The pricing makes the commodity rare, thus making the brand image perceived highly by the customer.

 

 

 

 

 

References.

Thomas, (2021). Louis Vuitton Advertising Strategy: Why is Louis Vuitton so popular? Retrieved from, https://avada.io/resources/louis-vuitton-advertising.html

Heikkinen, E. Product IPR Analysis of LV Archlight Trainer by Louis Vuitton.

Keerakittiwat, K. Advertising design for Zap Hollywood Smile.

Marticotte, F., & Arcand, M. (2017). Schadenfreude, attitude and the purchase intentions of a counterfeit luxury brand. Journal of Business Research, 77, 175-183.

Kasztalska, A. M. (2018, September). Louis Vuitton As An Example Of The Old And Modern In The Same Time Luxury Brand In The Eyes Of Its Clientele. In CBU International Conference Proceedings (Vol. 6, pp. 226-230).