IndexBrand EquityGucci Market ReviewGucci SWOT AnalysisGucci Competitor AnalysisConclusionWorks CitedBrand EquityGucci, an Italian fashion brand started its journey from a small shop in the city of Florence in the year 1921 by Guccio Gucci. Little did anyone know that this brand would prove to be a fashion powerhouse across the globe and build a reputation that will last forever. Over time, Gucci managed to turn it into a luxury brand with its expensive and exotic products. As a brand, Gucci has continuously evolved and come up with products to offer to the upper class people. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get Original EssayGucci, now offers its customers a wide range of products which include leather goods, bags, watches, shoes, clothing and many other fashion accessories items across the world. As for Gucci, the most valuable sources of brand value are the brand name and logo. More specifically, the two Gs in the Gucci logo not only serve as an attraction factor, but are also part of Gucci's prestigious heritage. The Gucci logo is basically the initials of its founder Guccio Gucci. There are many other factors that contribute to the value of the Gucci brand and they consist of all the benefits that Gucci customers enjoy; quality, design, graphics and customization. Gucci as a brand is also good at adding emotional benefits to its customers by giving them a sense of status and confidence in the social approval of themselves that comes from their association with Gucci. Gucci is no longer just a brand as its history and heritage is something that people associate more on a personal level as they sometimes become attached to it on an emotional level, which makes them loyal customers of Gucci. Other key sources that add to the value of the Gucci brand are –Uniqueness – one thing that also adds to the uniqueness of Gucci is the fact that it has a large millennial customer base and is the only brand in the luxury market that has had success in targeting millennials. Furthermore, Gucci's customer relationship management is very good, which gives them an edge over the competition. Its uniqueness lies in the style and luxury that Gucci offers with elegance. Communication: Even though Gucci is a historic brand, it has still managed to cope with the contemporary world and has a strong online presence on many social media platforms and even its own website. Gucci Market ReviewGucci has always positioned itself as a luxury brand unique. Apart from that, Gucci is also famous for its powerful brand image that focuses on class, quality and innovation. As a brand that leads the market, Gucci is good and successful in increasing the self-esteem, prestige and status of its customers. Gucci products are available in many markets, but are more likely to be found in a higher class of markets where buyers are also of higher status and wealthy class. All over the world they have many stores that are accessible to upper-middle class and wealthy people. These stores are specifically designed keeping in mind the brand identity and theme. Apart from this, Gucci also has online sales available on its website which provides customers with an additional platform to purchase Gucci products. Gucci follows a premium pricing policy and has kept all of its products priced higher than many other brands. These prices mainly depend on the material of the fabrics used and the craftsmanship of these products. Since the materials used to make a Gucci product are themselves high quality, they make the final product even more expensive.This pricing strategy does not bother Gucci's customers as they consider the brand as a status symbol and high prices serve as a sign of their status in society. Gucci, like many other brands, goes out to promote their brand using advertising, magazines, social media and other promotional campaigns. All this helps the brand gain publicity and attract potential customers to buy their products. They use famous celebrities to be a part of their campaigns which play a very important role in showcasing their new products and making them reach to maximum number of people across the world. The Gucci product line has expanded over time and they have come up with many different product categories with a wide range of options. All of their products are high quality and have high prices, which makes Gucci the affluent brand that it is. A lot of effort goes into the design and production of Gucci products and this is reflected in the final result. Some of the product ranges offered by Gucci include; clothing for men and women, bags, shoes, sunglasses etc. SWOT Analysis of Gucci Gucci has been around for a while now and the fact that it is a heritage brand serves as a selling point because people have developed trust in the brand over the years. The strong brand identity they possess helps it to be easily recognized everywhere by its potential customers. All their products are of high quality and come with premium finishes that attract customers. Gucci has over 500 stores worldwide and makes its products available worldwide. Gucci is a very expensive brand with most of its products starting at a price that is unaffordable for a maximum number of people. This aspect could accentuate Gucci's weakness, given that the brand is doing well; they do not have a very large customer base because only a small population belongs to the category that can afford Gucci. The lack of product range in the Gucci bag can give competitors an edge to overtake Gucci in the market. Capturing the Millennial market is a potential opportunity for Gucci as many Millennials have started purchasing luxury brands online and this change can be used by Gucci in a positive way. Another opportunity for Gucci is to come up with more stories in the Asian region as they currently don't have many stores here, and it would be a good opportunity for the brand to expand and grow more. The faces of Gucci are those of counterfeit products manufactured all over the world and their first copies available even at less than half the price of the original. Many people tend to buy these copies of branded products which sometimes cause damage to the original brand. Another type of threat to Gucci comes from its competitors which are mainly Chanel, Prada, Burberry and Louis Vuitton to name a few. The lack of innovation could end up being a threat to Gucci as it has been a while since Gucci invented something completely new and innovative. Gucci has always been a historic brand, but has still been able to remain contemporary while keeping current fashion in mind. trends. From consumer perception, it can be said that Gucci customers associate with the brand on a higher level as they think of luxury, timelessness, innovation and prestigious. Gucci truly believes in taking care of its customers, which makes them feel happy to be associated with the brand. Gucci customizes its products with the aim of matching them to the customer's taste, which helps the brand make exactly what the customer needs. Competitor Analysis of Gucci The main competition that Gucci faces in the Italian market mainly comes from others-2021-4