Case Study: Prada-New Perspectives on the Prada Group

Paper Type:  Case study
Pages:  5
Wordcount:  1253 Words
Date:  2022-11-07

Introduction

Companies in the contemporary should not only offer quality products and services but also win the minds and hearts of clients. As an example, Prada Group should change people's perceptions beyond fashionable and luxury products. The group should strategize to present itself as committed to social welfare, beauty, and cultural passion of its customers. This strategy will enable its clients to pass the innovative stories about the brand to the future generation. Quintessentially, Prada Group requires a buzz marketing strategy through social media platforms to enable its diverse clientele to spread its product and services to other people across the globe.

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Question 1: An Innovative Marketing Strategy

Prada Group's customers want it to brand its products such that its clients can spread the firm's cultural, market, and architecture to others through storytelling. Prada can ensure that its customers share information about it through buzz marketing as an innovative alternative strategy. It is worthy to understand that this strategy is also popularly known as "word-of-mouth" marketing (Groeger & Buttle, 2014). Noteworthy, it is a marketing strategy that focuses on clients to help pass along information regarding a given product. There are two ways that Prada Group can implement this strategy. The first method is to ensure that the product is new, unique, or better compared with those of competitors. The second way is to make advertising of the product intriguing, memorable, unique, and different (Boone & Kurtz, 2013). Notably, this will make the brand of the Prada Group to stand out as well as give it a cohesive and memorable image as the best product.

Imperatively, I believe that this strategy will create a consistent and personalized message that creates a "buzz" for the product. It is essential to note that by getting clients or customers to talk about the brand, Prada Group will enhance awareness of their products. The customers will then spread the details about the goods and services through on and offline traffic. Kimmel (2015) elucidates that the clients who use the product will spread its uniqueness to other people across local, regional, and global boundaries. The ramification for this is increased sales volume and profitability.

Question2: Appropriate Use of Technology and Social Media

It is indeed true that the integrated marketing campaign does not provide an extensive explanation on which and how mobile and social media technologies will help in achieving the aim of spreading Prada Group's product innovativeness. For this reason, it is important to understand the best social media that suits the target audience in this campaign. Admittedly, the target demographic for Prada comprises of people across ages who highly regard fashion and design. This implies that it entails the youthful population, celebrities, and others who have an attraction for luxurious handbags, accessories, fragrances, and so on. The use of technology will be such that it encourages the audiences of Prada Group to share their views on its brands to other people who have never used these products. By so doing, the technology will be essential in helping clients to tell the story about Prada, which will consequently lead to high sales and profitability.

The best social media to adopt for this campaign is Facebook. It is the most used social media platform in the entire world with over 2.27 active users per month (Duggan & Brenner, 2013). Additionally, people of diverse background use the platform for news, entertainment, or sharing ideas. Other than that, Facebook has a special feature that allows people to not only present their personal stories but also share other individuals' stories through the "share button." It is also vital to elucidate that Facebook offers various options for helping people express themselves. For instance, a person can write their stories on their timelines, post pictures about given events, or post videos that explain their thoughts and views. In this regard, it is not only the best but also the most convenient technology that will enable the campaign that Prada Group to market its product to a large clientele. Furthermore, it will easily enable the products' users to share their experience widely and easily.

Question 3: Maintaining and Building Brand of Prada Group in Future

Maintaining a brand is important for every company as it guarantees local and international dominance in the crowded and competitive corporate market. Therefore, Prada Group should always ensure that their brand remains consistent and stand out henceforth. It is prudent to highlight that Prada Group can achieve this aim through a variety of ways. Firstly, it can maintain its brand through the facilitation of steady brand growth and evolution. Admittedly, the fashion market is dynamic and so is the need to incorporate changes to fit the needs and demands of clients. By so doing, clients will like and use the group's products for generations to come (Miller, 2014).

Secondly, Prada Group should raise the awareness of the company's brand internally to its employees. They should achieve this through the appointment of a competent brand manager who acts as a gatekeeper for Prada's services and products. Furthermore, the brand manager will be helpful in reaching the group's diverse clients on numerous platforms as well as maintaining employee awareness throughout the firm. Also, it can assure internal branding by giving its employees free branded items like business cards, mugs, shirts, and so on.

Thirdly, it would be crucial to document Prada Group's brand to allow for continuity in generations to come. This strategy is achievable through the creation of a digital portal for the group's brand. Subsequently, this will allow for the time-to-time update of the inevitable market changes (Miller, 2014). The fourth strategy is to establish a solid approval process for the group. The approval process ensures that every choice regarding a brand is scrutinized to avoid making mistakes that will negatively impact on people's perception.

Metrics of a Successful Campaign

The metrics for this campaign will be the percentage increase in Prada Group's sales volume. Notably, a successful campaign will entail high percentages as far as purchases of the group's products are concerned. The ramification for this will be an automatic increase in the group's profit margins, which will then make the firm to gain competitive dominance in the corporate market. Another metric for the campaign will be website traffic on Facebook. A successful campaign should generate high Facebook website traffic in which customers, who are Facebook users, share their stories regarding the innovativeness of Prada Group. Lastly, online surveys will also provide a good metric for Prada's campaign since it will help to obtain first-hand feedback from the group's clients.

Conclusion

In general, buzz marketing will serve as an alternative strategy that will help the Prada Group to reach a wide customer base. This strategy entails using customers to pass information about the products of Prada through "word of mouth." Undoubtedly, the group can utilize social media platforms, particularly Facebook to reach a wide clientele. By so doing, it will achieve benefits regarding sales and profitability.

References

Boone, L. E., & Kurtz, D. L. (2013). Contemporary marketing. Cengage Learning.

Duggan, M., & Brenner, J. (2013). The demographics of social media users, 2012 (Vol. 14). Washington, DC: Pew Research Center's Internet & American Life Project.

Groeger, L., & Buttle, F. (2014). Word-of-mouth marketing influence on offline and online communications: Evidence from case study research. Journal of Marketing Communications, 20(1-2), 21-41.

Kimmel, A. J. (2015). Connecting with consumers via live buzz marketing: public perceptions and the role of ethical ideology. Business Ethics: A European Review, 24(2), 205-220.

Miller, D. (2014). Brand-building and the elements of success: Discoveries using historical analyses. Qualitative Market Research: An International Journal, 17(2), 92-111.

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Case Study: Prada-New Perspectives on the Prada Group. (2022, Nov 07). Retrieved from https://proessays.net/essays/case-study-prada-new-perspectives-on-the-prada-group

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