Understand the LVMH business
- what is its history? (briefly)
- what kind of business is it?
- what products does it sell?
- how many brands does it have? – what are they?
- how many countries does it operate in? – which ones?
- how successful is it?
- how long has it been successful for?
- is it successful across countries and brands?
- what is the evidence for success? Marketing homework help
Understand the Chinese market
- How big is the Chinese market for luxury goods?
- Is this market growing or shrinking? How quickly and by how much?
- How does the size and growth of the Chinese market compare with other countries?
- What factors affect the Chinese market for luxury goods? (Political, Economic, Social, Technological, Environmental)
- Is this market stable or volatile?
- How much competition is there for LVMH in this market?
- What market share does LVMH have of the Chinese luxury market? Is this different for different products/brands? Is market share growing or shrinking/
Understand consumer preferences in the Chinese luxury goods market
- What kinds of Chinese consumers buy luxury goods? (think about age, gender, income, geography)
- What kinds of luxury goods are most popular with Chinese consumers?
- Where do Chinese consumers buy luxury goods?
- What are Chinese consumers’ reasons for buying luxury goods?
- Where do Chinese consumers like to get information from about luxury goods?
- How price sensitive are Chinese consumers when buying luxury goods?
- How do Chinese consumers of luxury goods differ from consumers from other countries?
Understand the LVMH strategy and business model in China
- Use your own words to describe the ‘six pillars’ of LVMH’s business model. Marketing homework help