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PRADAMarketing Fundamentals
K A T H E R I N E L A M B | M A R K E T I N G F U N A M E N T A L S P R A D A 2 0 2 1PRADA REPORTIntroductionto Prada01Marketingsegmentation03#PradaOnIcecampaign05Onlinemarketing07Marketing Mix02SWOTAnalysis04#FeelsLikePrada Campaign06Off-linemarketing08PradaExtendsLondon Event09Prada's KPI's10Retentionstrategies 11Globalmarket place12Evaluation13Appendix14
PAGE 1(Appendix P1)
PAGE 2PriceProductPlacePromotionPAGE 2
PAGE 3Age17-27 28-38 39-49 59-69 70+MaleFemaleCustomer profile(Appendix P2)
StrengthsWeaknessesOpportunityThreatsPAGE 2(Appendix P3)(Appendix P3)PAGE 4
PAGE 5Prada On Ice(Appendix P5)
Feels Like PradaPAGE 6(Appendix P6)
PAGE 7(Appendix P7)Social Media Direct emails
PAGE 8Billboards
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Prada's KPI'STo measure the effectiveness of Prada's marketing method, the brand uses KPImetrics to help assess whether or not their campaigns are meeting theirpredetermined objectives and to what degree. Prada's social media platforms play a huge role in the brands marketingtechniques. To measure the success of each channel, the brand monthly reviewsthe performance of their social media platforms via the number of likes andcomments generated as well as their overall engagement rate. 02. Social Media03. WebsitePAGE 10To measure the traffic generated on Prada's online store, Prada uses Cookieswhich isa file that saves to a device and stores the website's name, and unique IDthat represents you as a user. This allows Prada to see their website traffic andany returning customers as when customers return back to Prada's online store,the website knows they'e already been there before.01. Pop-up Stores For each seasonal collection, Prada frequently set up pop-up stores including theirmost recent one in Selfridges. To measure the success of this campaign, Pradawould analyse the number of sales generated from the pop-up. The higher thesales within the pop-up, the more successful the marketing strategy.
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PAGE 2Global Market PlaceDue to Prada being a worldwide brand which is present in 70 countries, there aremany factors they have to consider in order to market the brand successfully indifferent regions: the language barrier, cultural differences and currencyexchange differences.In order to market Prada to different regions via social media, Pradaprovides a 'translate' button under each of their posts to resolve thelanguage barrier between each of their markets.02. Social Media03. WebsiteWhen customers first access Prada's site, it asks them to select whichcountry they are from to suit the e-store to their location. Once customersset the website to their location, it alters the delivery, language, currencyand product availability to suit their region.01. CampaignsPrada carries across the same campaign for each collection in different regionsadjusting them to fit the location and customers. For example, The feels like Pradacampaign was campaigned different in New York, USA to Shanghai as they havemany cultural differences. PAGE 12
PAGE 13Overall, it is shown that one of Prada's biggeststrengths is their ability to market the brandsuccessfully across the 70 different regions in whichare present in. As a technology advanced company,we can see that they adjust their online marketingplatforms such as their social media and onlinestore to fit any consumer which allows Prada toreach a wider market worldwide. It is also shownthat Prada is extremely creative through differentmarketing campaigns which makes them highlystand out. Unlike competitors, it's seen that Pradacarries out the same campaign differently acrosseach region to attract consumers globally. Onewould also think that Prada is extremely strategicwhen marketing by effectively basing theiradvertisement on products they know would initiallyattract customers. For example, advertising Prada'scheapest product on billboards to gain morecustomers,However, in comparison tocompetitors, it is seen that Prada isextremely weak in some areas ofmarketing: the use of celebrityendorsement and brandcollaborations. Each of thesemarketing strategies would allowPrada to gain more brand recognitionand gain more customers which issomething Prada needs to consider.
AppendixPAGE 14
Appendix:About Prada
Appendix:MarketingSegmentationStrengthsOpportunities
Appendix:PESTLE AnalysisPoliticalEconomicalTechnologicalLegalEnvironmental
Appendix:#FeelsLikePrada
Appendix :Onlinemarketing
Bibliography