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.