Assignment Sample on Enhancing Customer Engagement For Louis Vuitton
Introduction
Part 1: Defining a research problem
Business development and performance has been depending on customer engagement. In the case of Louis Vuitton, it has been identified that the sales of about 75% are related to Marketing strategic implementation (Statista, 2023b). In 1854 Louis Vuitton has been started the journey from Paris (Econsultancy, 2023). This company has been globally recognized and known for its luxury products. The premium quality of products with handmade goods and sophisticated designs with traditional artisanship are the most valuable features of creating a market sensation. According to the report of Vogue (2023), it has been identified that the revenue of Louis Vuitton has almost about 38.648m in 2022. However, this acceleration of revenue has been developed from 30896 in 2021 to a higher jump due to an omnichannel marketing strategy (Louisvuitton, 2023).
Figure 1: Louis Vuitton sales rate in 2022
(Source: Statista, 2023a)
The business performance and external factors are equivalently important to sustain customer engagement. As stated by De Giovanni (2022), globalization has induced luxury brands’ value with higher market demand, and the product cycle is significantly different than other brands. In addition, Lewis Vuitton has delivered continuous growth and global expansion in the last two decades. In the report of Business of Fashion (2018), it has been stated that 25% of sales growth has been incorporated by a new marketing strategy of social media content development and omnichannel Marketing strategy implementation.
Figure 2: Global Revenue of Louis Vuitton
(Source: Statista, 2023b)
The most important aspect of customer engagement with respect to Louis Vuitton’s business performance is the aim to deliver maximum profit and product sales in the market. As identified by Amatulli, et al., (2021), the leading competitors of Louis Vuitton are Christian DIOR Couter and Fendi. However, Louis Vuitton have been managing to continue the sales above this to competitors, therefore, it has been a significant threat to be suppressed in the future by other competitors as well (Mishra et al., 2021). Moreover, globally Louis Vuitton has 460 stores presently and the high-tech innovations and implementation of AI are significant strategic management applied by this luxury brand (Louisvuitton, 2023).
The existing competitors changing the behaviour of buyers and economic pressure on Louis Vuitton have created high force stress to define new strategic innovation. According to Naclerio and De Giovanni (2022), the major problem that has been faced by Louis Vuitton is the developing rate of competitors in the global market and changing behaviour of customers, Therefore, these issues are affecting on organization’s production market and distribution. Similarly, the brand has experienced a major fall in sales of particular products in the last two years (Lim et al., 2022). In addition, these issues greatly affected the core management and strategic planning of Louis Vuitton for customer engagement development. With this note, it is important to identify the existing strategy and their impact on the market. The omnichannel marketing strategy has been identified with major strategic change in case of a source of Louis Vuitton to provide AI-based in-store services.
The theory of Maslow’s hierarchy of needs has been used by De Giovanni (2022), in the study to identify psychological needs and marketing strategies alignment. However, this theory has been reviewed with luxury brands’ marketing domain as well as customer response. This proposed study will be able to analyse the stated problem and define the theoretical underlines along with the customer engagement line.
Research question
RQ: What is the impact of omnichannel marketing on the customer engagement aspect of Louis Vuitton?
Part 2: Comparing possible methods
This proposed research topic will be required the appropriate use of diversified approaches of research methods. As mentioned by Saunders et al (2019), the research framework is the primary foundation of successful research. Thus, the adequate selection of research approach design and strategy will be the based protocol and principles of a viable completion of the study. With this note, this study will analyse the research question with measures to the research design of quantitative and qualitative research. In respect to this, the primary and secondary research strategies are the main classified domain of the research framework along with that quantitative and qualitative research design has been used. This study will follow, one of these research designs with the appropriate justification for the study, and comparative evaluation is going to be stated with other existing
Quantitative research design: rationale and what is this research design
Quantitative
The quantitative research design is one of the most popular research designs that has been used to analyze and collect numerical data. According to the study by Collins (2017), it has been stated that quantitative research is useful to identify specific patterns and predicting average variable responses. Similarly, the study by Naclerio and De Giovanni (2022), has been identify market analysis for luxury brands presented in the UK. The quantitative tool has been to analyse the existing competitors and their business performance with profit and sales analysis. As stated by Chadha and Ahuja (2020), the quantitative research design is used with different strategies for data collection. The major aim of this study design is based on collecting numerical data or statistical information. The quantitative research design is occupied with survey questionnaire development. Therefore, the effectiveness of quantitative research has mainly relied on statistical interference or quantitative analysis measures. Moreover, the factual data analysis of existing facts and previous events is significantly important.
The importance of research design has been distinguished to promote a research foundation based on directional identification of data collection procedure data analysis and interpretation. The primary research process is regarded as the first-hand data set used by the researcher, whereas, the secondary research specifically indicate the second-hand datasets used for research purpose (Lopes, 2020). Both types of research are relevant to adopt a quantitative research design. The primary and secondary research along with quantitative design has been used for numerical information collection and analysis of new medical data sets to provide a conclusion.
Qualitative research design
The qualitative research design is one of the best research designs to analyse the in-depth evaluation of phenomenon facts. Qualitative data are descriptive in form and basically regarded as opinions, experiences, and conceptions of others. The study by Zeng (2023), has used qualitative research design to collect the data through the interview process and analysed with the content analysis process. The research aim was to identify the impact of external factors on consumer behaviour change. Therefore, qualitative research has been used by secondary and primary research irrespectively. Qualitative research has diversified formats of analysis such as content analysis, thematic analysis, case study analysis, and ethnographic analysis (Amatulli et al., 2021). These all are viable processes for collecting data for qualitative research. Henceforth, primary data for the qualitative study has significantly used the interview process with structured interviews and semi-structured interviews, and case studies of groups or individuals (Aiolfi and Sabbadin, 2019). The participation of primary respondents has been identified in the case of the primary qualitative study while the secondary qualitative study is focused on existing written reports such as news, articles, different journals, and books.
The qualitative research design and quantitative research design both are relevant for research data collection process data analysis and presentation of data. In this proposed study it is important to identify the most effective research design. Moreover, these two methods of research have been used by different authors to complete their research with primary and secondary research strategies. In addition, the research design has link with other aspects of research such as philosophy, approach, strategy, choice, analysis, and time horizon.
Critically discussion on the methods:
Quantitative research design
This proposed research has stated the research question of identifying customer engagement and omnichannel marketing strategy implementation at Louis Vuitton. Analysing this research question study will require an effective data collection procedure. According to Patton (2002), the quantitative research design will be sufficient to provide market-related reports of the company and strategic outcomes with respect to customer engagement. Quantitative data is important to identify average results and identification of relevant patterns that exist among customers and the market. In addition, the quantitative research design has a major impact on factual data analysis reliability test of variables, and the development of significant statistical interference. In the case of analysing customer engagement in Louis Vuitton, it is important to use quantitative data regarding business reports of the brand, and annual sales reports.
Qualitative research design
The qualitative research design for this proposed study and Research question will justify it by collecting descriptive opinions from customers and employees of Louis Vuitton. As this study will focus on the omnichannel Marketing strategy of Louis Vuitton and the customer engagement aspect related to this strategic implementation could be possible by identifying experience-based opinions. As stated by Chadha and Ahuja (2020), customer buying behaviour has been influenced by external factors such as technology, social-cultural dimension, and geographic association. Thus the interpretation of outcomes and impact will be effective to use qualitative research design.
Critically analyse other studies which use similar designs and identify the key strengths and weaknesses
Quantitative research design
Strength
From the identification of different existing studies that have used quantitative Research Design the majority of statements that this research design is effective to recognize the clarity and accuracy of data. As the study of Naclerio and De Giovanni (2022), highlighted the average number of customers’ buying habits is depending on traditional in-store services. On the other hand, effect of social media marketing on consumer behaviour has been analysed with descriptive statistics and stated mean distribution of changing buying behaviour among customers (Giovanni, 2022). The most significant strength of quantitative analysis is identifying it reliability of data. The statistical data and analysis are significantly transparent in the form of presentation and representation of raw data. With quantitative data analysis in research larger number of responses have been analysed to formulate a conclusion and generalized outcome. This research design is mainly focused on objectivity rather than subjectivity. In addition, the benefit of focusing on objective reality compared to subjective reality. This has been postulated as the accurate recognition of the movement of variables in a distribution.
Weakness
The weakness associated with quantitative research design is initially related to the researcher site. According to Jensen (2002), the quantitative research design needs relevant experience in handling and analyzing a quantitative data set. Apart from this quantitative data analysis has been required for statistical tool used and other different analytical use of tools. Therefore, the training of researchers in particular domains has been needed. Similarly, the weakness of quantitative analysis is suggested objective base interpretation rather than subjective analysis. Their food the cost associated with quantitative analysis is comparatively high and research with limited findings is a great obstacle to completing the study.
Qualitative research design
Strength
Qualitative research design has been identified with subjective analysis of responses and data sets from primary or secondary research. As stated by Creswell (2009), the strength of qualitative research is significantly recognized with a description analysis process with an in-depth investigation of phenomena. The strength of the qualitative analysis is relied on identifying Complex issues and factors. On the other hand, this process of research design is relatively more cost-effective than quantitative research design.
Weakness
The weakness of qualitative research design has been identified with longer time consumption. According to Collins (2017), the qualitative analysis is mainly focused on descriptive responses from a participant in the case of primary research and descriptive content collection in the case of secondary research strategy. Henceforth, qualitative research with interviews, case studies, and ethnographic analysis has been difficult for initial researchers without proper experience. Apart from this, the weakness of quality research has relied on the development and identification of the most relevant information in the content. However, the majority of times misinterpretation and unlimited interference are responsible for falsified justification of outcomes.
Part 3: Justification
From the overall evaluation and description of qualitative and quantitative research design, it has been identified that a secondary qualitative research design will be effective for this proposed study to meet the research question. As the study by Zeng et al (2023), has been designed to address the significant impact of customer engagement through omnichannel marketing strategy on Louis Vuitton, therefore, the description evaluation of the existing marketing strategy and its impact on the company as well as on customer segment. Qualitative research mainly focuses on in-depth analysis of complex issues. In the present day, it has been reported that Louis Vuitton has a significant grab on the market with different customer segments. Thus, the luxury brand’s reputation in the market is the same to be directed by external as well as internal factors (Lim et al., 2022). Besides this, the qualitative analysis has major strength to identify subjective impact and outcomes related to the phenomenon of importance.
Identification of customer satisfaction and loyalty for Louis Vuitton will be sufficiently investigated by collecting secondary existing news reports and articles. However, the existing market reports on Louis Vuitton and customers’ purchase behaviour are majorly investigated with experience best and opinion best reflection. With this note it has been objective that the strength of qualitative analysis is regulated with vast narrative Investigation on Fact and processes
The justification of selecting secondary research is mainly identified with covering diversified data from a longer time period specifically at least the recent 5 years where the primary research will be not sufficient enough to provide long-term data with a cross-sectional horizon. Thus, as stated by Lopes (2020), secondary qualitative data are relevant to be analysed with the thematic tool of analysis or content analysis tool. Moreover, this study will adopt secondary qualitative data analysis with a thematic analysis tool however different articles and news reports will be included in the study father more several quotes will be developed to support different themes. Generally, thematic analysis in qualitative research design has been an effective process to evaluate theme-specific descriptions and evaluation of the phenomenon. In addition, as the theme of customer engagement to Louis Vuitton
Ethical consideration
Ethical consideration in research is significantly important to complete any study. In the case of secondary research, the ethical consideration will be followed by stating actual references of the appropriate source. The study will follow one of the most important ethical considerations of the representation of true data with generalized interpretation. The research should be focused on providing authentic data from secondary sources and limit to false representation (Mishra et al., 2021). The study should be restricted with no harm to the community and individuals. Along with these, this study will initially be required to get approval from the university and supervisor to conduct this study. The protection of data and interpretation will be required to supported with physical evidence of existing publications of authentic data. However, these all ethics will be followed by this study to complete data collection, analysis, and representation.
References
Amatulli, C., De Angelis, M., Sestino, A. and Guido, G., 2021. Omnichannel shopping experiences for fast fashion and luxury brands: An exploratory study. In Developing successful global strategies for marketing luxury brands (pp. 22-43). IGI Global.
Chadha, K. and Ahuja, Y., 2020. Luxury fashion brands embracing the digital: An exploratory study to unfold the success strategy. MANTHAN: Journal of Commerce and Management, 7(1), pp.60-75.
Collins, H., 2017. Creative research: the theory and practice of research for the creative industries. New York: Bloomsbury Publishing.
Creswell, J.W 2009. Research designs: Qualitative, quantitative, and mixed methods approaches. California: Sage.
De Giovanni, P., 2022. Leveraging the circular economy with a closed-loop supply chain and a reverse omnichannel using blockchain technology and incentives. International Journal of Operations & Production Management, (ahead-of-print).
Jensen, K.B 2002. A handbook of media and communications research: qualitative and quantitative methodologies. London: Routledge.
Lim, X.J., Cheah, J.H., Dwivedi, Y.K. and Richard, J.E., 2022. Does retail type matter? Consumer responses to channel integration in omni-channel retailing. Journal of Retailing and Consumer Services, 67, p.102992.
Lopes, A.C.H., 2020. Shaping customer engagement, repurchase intention and positive word-of-month in omnichannel retailing context (Doctoral dissertation, ISCTE-Instituto Universitario de Lisboa (Portugal)).
Mishra, S., Malhotra, G., Chatterjee, R. and Shukla, Y., 2021. Consumer retention through phygital experience in omnichannel retailing: role of consumer empowerment and satisfaction. Journal of Strategic Marketing, pp.1-18.
Naclerio, A.G. and De Giovanni, P., 2022. Blockchain, logistics and omnichannel for last mile and performance. The International Journal of Logistics Management.
Patton, M.Q 2002. Qualitative research and evaluation methods. London: Sage.
Proctor, T 2000. Essentials of Marketing Research. London: Pearson.
Saunders, M., Lewis, P. and Thornhill, A., 2019. Research methods for business students – eighth edition. Harlow:Pearson Education.
Zeng, N., Jiang, L., Vignali, G. and Ryding, D., 2023. Customer Interactive Experience in Luxury Retailing: The Application of AI-Enabled Chatbots in the Interactive Marketing. In The Palgrave Handbook of Interactive Marketing (pp. 785-805). Cham: Springer International Publishing.
Websites
Businessoffashion, (2018). Chart of the Week | LVMH Cash Cow Nears $12 Billion in Sales.Available at: https://www.businessoffashion.com/articles/luxury/chart-of-the-week-louis-vuitton-lvmhs-12-billion-heavyweight/[Accessed on 8th May, 2023]
Econsultancy, (2023). Five brands winning over consumers with new omnichannel experiences. Available at:
https://econsultancy.com/five-brands-winning-over-consumers-with-new-omnichannel-experiences/[Accessed on 8th May, 2023]
Louisvuitton, (2023). Louis Vuitton . Available at:https://eu.louisvuitton.com/eng-e1/homepage[Accessed on 8th May, 2023]
Statista, (2023a). Brand value of Louis Vuitton worldwide from 2016 to 2022.Available at: https://www.statista.com/statistics/980552/louis-vuitton-brand-value-worldwide/ [Accessed on 8th May, 2023]
Statista, (2023b).Global revenue of LVMH Group’s fashion and leather goods segment from 2008 to 2022. Available at:https://www.statista.com/statistics/306624/global-revenue-of-lvmh-group-s-fashion-and-leather-goods-segment/[Acessed on 8th May, 2023]
Vogue, (2023). Louis Vuitton. Available at: https://www.vogue.com/fashion-shows/designer/louis-vuitton [Accessed on 8th May, 2023]
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