Prada brand (Case study)

Prada brand (Case study)

1. Prada brand (Case study)
Prada is one of the luxury fashion brand located a Millan. The company
was founded by Mario Prada in 1913. It offers luxury clothing, leather
goods, footwear, eyewear and fragrances for men and women.
The company was able to achieve a sales growth of 6% after four years
in 2018.
So Bertelli intends to merge stationary retailing with digital
communication and sales channels in order to expand its e-commerce
activities and to be capable of fulfilling the rapidly changing consumer
needs.
As Prada is going to target younger group, with an age upto 30 years,
the recommended communication strategy could be the verbal
communication, which includes oral and written communication.

2. Non-verbal communication strategies could be inefficient to provide awareness to the
targeted customers, therefore, the company should consider verbal communication
strategies for providing awareness to its customers.
The mediums for oral communication for Prada includes; Ads on Television, Social Media
Websites,radio, etc.
In order to get effective results and target a customer group with growing needs, the
company should considering Advertising through social media websites, internet and
television.
An effective communication strategy is that it is not focused on a single target group. A
diversified communication strategy with an ability to provide awareness to most of the
target groups using a single medium could be the most efficient communication strategy
in providing awareness to the targeted customer groups.
The advertisement through social media websites can only be focused largely on the age
group up to 30 years, as most of the people above the age of 50 years does not use
social media websites.

3. In order to compensate that, the company should go for written verbal
communication channels i.e. Newspaper to target the age group above 50 years.
The advertisement through television should be focused on various different nature
of channels along with a little modification in the content of the ad in order to provide
awareness to both of the targeted age groups.
In this way, the company would be able to implement a single communication
strategy to target both of the age groups.
One way to attract younger target group is to extend the brand by enlarging the
current product portfolio of the company.
In order to extend its brand the company could introduce new product categories to
its product portfolio like introducing luxury accessories for men and women which
could include luxury wrist watches, bands, and other accessories.
Moreover, the company could also introduce new products in its current product
categories in order to attract the younger target group. In this regard, it could
introduce clothing that reflects the traits of the target population.

4. For example, people up to 30 years age mostly prefer to wear informal clothing as
compare to formal dresses. In this sense, If the company wants to attract the younger
target group, it should focus on informal dresses in its clothing segment.
However, in order to achieve its brand digitization objective, it should introduce
products with some technological add up.
In this way, the company would be able to attract the younger target group and
increase its sales, which would ultimately enable the company to achieve a long term
sales growth.