Ch.11 - Developing and Managing Products

Before Miu Miu develops a new product, they first have to brainstorm how the product will look like, the material, design, etc. They then have to develop the product and test it out to see how people will react or to see if its functional in any way. Before the finished product is sold, a business analysis is made to see what will be the demand and that of the sort.

Ch 8- Segmenting and Targeting Markets

Like many other brands and companies, Miu Miu uses segmentation bases, characteristics of individuals, groups, or organizations, to figure out what strategies they’re going to use to acquire sales. One variable that can be used is age. These variables are important because if a brand caters to the wrong market, they will lose many sales. Geographic segmentation is also important because you have to cater to people based on the climate, for example. If it’s hot in the area, there’s no point in selling clothes that are made for winter, because people don’t need it. 

Ch.15- Marketing Communications

Miu Miu uses advertising and social media as their promotional strategy. When it comes to communicating with their clients, Miu Miu uses mass communication. Mass communication is the exchange of information through mass media. They also use interpersonal communication which is more personal between the brand and its customers. With interpersonal communication, Miu Miu lets their customers sign up for newsletters where they will be the first ones to hear about new products/collections.

Ch.10 - Product Concepts

In marketing, there are different types of consumer products. One of these includes consumer product which is a product bought to satisfy an individual's personal wants. Miu Miu would be an example of a consumer product because their products, like other luxury brands, are bought to satisfy customer's personal wants. Miu Miu are knowing for having brand loyalty. When consumers prefer one brand over another, it shows that certain brand caters more to their preferences. 

Ch.17 - Personal Selling and Sales Management

Consumer sales promotion is targeted to the ultimate consumer market. For Miu Miu, their ultimate consumers are young women to women in their mid thirties. Compared to Miu Miu's sister brand Prada, Miu Miu is more quirky and youthful. Although Miu Miu is targeted more to a younger market, they still combine youthfulness with maturity. Therefore, even though most of their consumers are younger, that does't mean they can't cater to more mature women.

Ch.16 - Advertising, Public Relations and Sales Promotion

Like other brands, Miu Miu uses promotional mix. Promotional mix includes advertising (their biggest strategy). Miu Miu usually promotes their new campaigns through their site and social media such as Instagram and Twitter, and have billboards and ads in magazines. Another big way to advertise is to post photos of celebrities wearing their products. Miu Miu posts these photos online, which influences fans of these celebrities to buy the products/be interested in the brand. 

Ch.14 - Retailing

Retailing is all the activities directly related to the sale of goods and services to the ultimate consumer for personal, non-business use. Miu Miu is a franchise because it's owned and operated by individual(s) but is licensed by a larger supporting organization. Although Miu Miu has their own locations, their products can be found in many department stores like Neiman Marcus and Barney's. There are also many online sites that sells products for discounted prices. 

Ch. 6 - Consumer Decision Making

The consumer decision making process is used by consumers when buying goods/services. It includes 5 steps which are 1) Need recognition, 2) Information search, 3) Evaluation of alternatives, 4) Purchase, 5) Postpurchase behavior. This can be used to study how consumers make decisions. The fact that Miu Miu is different from most brands would make consumers want to purchase their products, but having celebrities wear their products also has an impact on consumer decisions.

Ch.5 - Developing A Global Vision

Is Walmart Good For America?

Cons

• Doesn't provide health insurance for its workers (workers are on medicaid so they have to rely on the government) 
• Hurts retail trade 
• Environmental problems (Brings congestion to communities) 
• Costs people their jobs (Competitive stores go out of business) 

Pros

• Walmart creates a lot of jobs (about 300 to 350 employees employed for every new store)
• Walmart provides cheaper and more accessible services than their competition 

Ch.4 - The Marketing Environment

Miu Miu is one of those brands that can keep up with the changing environment around them. Like other luxury brands, they are never behind when it comes to trends and customers’ needs. With a target market set in mind, it’s easy for Miu Miu to stay on track. Of course, if they didn’t have a target market, it’d be harder for their products to sell and they wouldn’t be successful at all. 

Ch.18 - Social Media and Marketing

Like many luxury brands, Miu Miu's way to promote their products is through social media.

With 5.7 million followers between Facebook, Instagram, and Twitter, Miu Miu utilizes an online platform for their ads and collections. Every season they garner attention for their unique and quirky collections through ads and fashion week clips. Celebrities like Rowan Blanchard, Elle Fanning, and Lily Collins wear the brand in public, so Miu Miu promotes them. As a result of this promotion, sales increase, as fans of these celebrities buy the same products they wore.