Table of ContentsBrand HeritageGucci Market ReviewSWOT Analysis of GucciCompetitor Analysis of GucciConclusionWorks CitedBrand HeritageGucci, an Italian fashion brand started its journey from a small boutique in the city of Florence in during the year 1921 by Guccio Gucci. Little did we know that this brand would become a global reference in fashion and build a reputation that would last forever. Over time, Gucci managed to make it a luxury brand with its expensive and exotic products. As a brand, Gucci has continually evolved and developed products to offer to the upper classes. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essayGucci now offers its customers a wide range of products including leather goods, bags, watches, shoes, clothing and many other fashion products. accessories worldwide. When it comes to Gucci, the most valuable sources of its brand equity are its name and logo. Specifically, the two G's in the Gucci logo not only act as an appeal factor but are also part of Gucci's prestigious heritage. The Gucci logo is essentially the initials of its founder Guccio Gucci. There are many other factors that contribute to Gucci brand equity and include all the benefits that Gucci customers enjoy: quality, design, artwork and personalization. Gucci, as a brand, also knows how to add emotional benefits to its customers by giving them a sense of status and confidence in the social approval of themselves that comes with their association with Gucci. Gucci is no longer just a brand, as its history and heritage is something that people associate with more on a personal level, as they sometimes become attached to it on an emotional level, making them loyal customers of Gucci. Other key sources that add to the Gucci brand equity are – Uniqueness – one thing that adds to the uniqueness of Gucci is also the fact that it has a large millennial customer base and is the only brand in the luxury market to have successfully targeted millennials. Additionally, Gucci's customer relationship management is very good, which gives them an edge over its competitors. Its uniqueness lies in its style and luxury which Gucci offers with elegance. Communication – even though Gucci is a brand with a historical heritage, they have still managed to adapt well to the contemporary world and have a strong online presence on many social media platforms and also their own website.Gucci Market ReviewGucci s 'is still positioned as a unique luxury brand. Along with this, Gucci is also famous for its powerful brand image which emphasizes on class, quality and innovation. As a leading brand in the market, Gucci succeeds in adding to the value, 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 the buyers are also of a higher status and wealthy class. All over the world they have many stores accessible to upper middle class and wealthy people. These stores are specially designed keeping in mind the brand identity and theme. Apart from this, Gucci also offers its online sales 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 materialthe fabrics used and the craftsmanship of these products. Since the materials used to make a Gucci product are themselves premium quality, this makes the final product even more expensive. This pricing strategy does not bother Gucci's customers because they view the brand as a status symbol and the high prices act as a sign of their status in society. Gucci, like many other brands, promotes its brand using advertisements, 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 participate in their campaigns, which plays a very important role in showcasing their new products and spreading them to as many people as possible across the world. The Gucci product line has expanded over time and they have come out with many different products. product categories with a wide range of options. All of their products are of premium quality and high prices, making Gucci the wealthy brand that it is. A lot of effort goes into the design and manufacturing of Gucci products and it all shows in the end result. Some of the product lines offered by Gucci include: men's and women's clothing, bags, shoes, sunglasses, etc. SWOT Analysis of GucciGucci has been around for a while now and the fact that it is a heritage brand acts as a strength as people have developed their trust in the brand over the years. The strong brand identity they hold allows it to be easily recognized everywhere by its potential customers. All their products are of high quality and feature premium finishes that appeal to customers. Gucci has more than 500 points of sale worldwide and offers its products worldwide. Gucci is a very expensive brand with the majority of its products starting at an unaffordable price for as many people as possible. This one thing may add to Gucci's weakness, even though the brand is doing well; they don't have a very large customer base because only a small population falls into the category that can afford Gucci. The lack of product range in Gucci's bag can give competitors an advantage to overtake Gucci in the market. Capturing the millennial market is a potential opportunity for Gucci because 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 create more stories in the Asian region, as they currently don't have many stores here, and this would be a good opportunity for the brand to expand and grow further. Gucci is facing counterfeit products produced all over the world and the first examples of which are available for even less than half the price of the original. Many people tend to buy these copies of branded products, which sometimes harms the original brand. Another type of threat for 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 came up with something completely new and innovative. Gucci has always been a heritage brand, but they have still managed to stay contemporary by keeping current fashion in mind. trends. From a consumer perspective, it can be said that Gucci customers associate with the brand on a higher level because they think of luxury, timelessness, innovation and prestige. Gucci truly believes in taking good care of its customers,.-2021-4