T

e Name:
Student
Unite Code:

MARKETING, DESIGN AND COMMUNICATIONS

Name of Company: Bottega Veneta
 Executive Summary
This report has focused on developing a marketing strategy for Bottega Veneta, one of the largest luxury
fashion brand retailers in world that is intending to expand their business in Belgium. In order to develop
a strategy, it is important for a company to analyse the market they are going to expand and their
customers. The business environment for Belgium will be very suitable for the company and will be
offering their products to customers seeking luxury products.
 Table of Contents
Introduction......................................................................................................................................2

Analysis ...........................................................................................................................................2

Market Overview .........................................................................................................................2

• SWOT analysis ......................................................................................................................2

• PESTEL and micro trend analysis .........................................................................................2

Competitor Analysis ....................................................................................................................2

• Key competitors .....................................................................................................................2

• Competitor Mapping ..............................................................................................................2

• Target market .........................................................................................................................2

• Price/Product Comparison .....................................................................................................2

Consumer Analysis ......................................................................................................................2

• Market segmentation ..............................................................................................................2

• Desired Primary/Secondary Target market/s .........................................................................2

• Consumer profiling ................................................................................................................2

• Research methodology ...........................................................................................................2

Strategies ......................................................................................................................................2

Product Mix ..............................................................................................................................2

Marketing Mix ..........................................................................................................................2

Communication Channels ........................................................................................................2

Launch Plan/Campaign Ideas.......................................................................................................2

Recommendations............................................................................................................................2

Conclusion .......................................................................................................................................2

References........................................................................................................................................2
Introduction
In the age of globalisation, companies irrespective of their size are required to establish a unique strategy
for boosting their overall success and gaining revenues over a longer period of time. This study will
evaluate the market opportunities provided to Bottega Veneta by expanding in Belgium through carrying
out an in-depth analysis of market and devising effective strategies accordingly.
Analysis
Market Overview
• SWOT analysis

Strengths Weakness
● One of the largest fashion retail ● Decreased performance standards in
companies of world some of their franchises
(Reports.mintel.com, 2021: 1) ● Still has been using traditional
● Strong ability to innovate their manufacturing process
products ● Cutting off from social media
● Strong distribution network (Vogue.com, 2021: 1)

Opportunities Threats
● Launching tailored and effective social ● Increased competition in market
marketing campaigns for attracting ● Strict policies implemented by
customers (Luxurysociety.com, 2021: government
1)
● Using advanced technology for
manufacturing their products
● Incorporating eco-friendly features in
their products

Table 1: SWOT Analysis of Bottega Veneta

(Source: Created by Author)
From the above table, it can be identified that Bottega Veneta has emerged to be one of the largest luxury
fashion retail companies in world due to its strong innovation capability and strong
distribution network. As stated by Sherman and Perlman (2014: 5), in age of digitisation, fashion
companies have been using social media for boosting their business. Using social media for promoting
products will provide huge opportunities for the luxury fashion business to boost their growth. However,
Bottega Veneta cut them off from using social media which is a potential weakness for company and
pose to be a threat in dealing with increased competition.
• PESTEL and micro trend analysis

Factors Description Impact

Political ● Belgium is a constitutional monarchy Positive

(Monarchie.be, 2021:1)
● It is a safe country and does not faces any
hostility from other countries
● Lower corruption

Economic ● In 2019, GDP value of Belgium was $529.61 Positive and

billion which decreased to $495 billion in Negative
2020 (Tradingeconomics.com, 2020: 1)
● The country faced economic shock due to
Covid-19

Social ● Population of 11.6 million Positive

● Greater demand for luxury fashion products in
Belgium (Businessoffashion.com, 2017: 1)

Technological ● Increased innovation opportunities for Positive and

businesses negative
● Skill shortages in country (Europa.eu, 2020:
1)
● Increased availability of technology

Environmental ● Increased air pollution Negative

● Climate change
 Legal ● Strict regulations for new businesses Negative
● Advertising and Marketing 2020
(Practiceguides.chambers.com, 2021)

Table 2: PESTLE Analysis of Belgium

(Created by author)
Bottega Veneta has been intending to expand their business in Belgium owing to opportunities which will
be provided to them in the market. As highlighted by Choi (2012: 7), political factors play a key role in
determining ability of a company to perform in a particular market and any interventions placed by
government. The stable political environment of the country will provide a major opportunity for the
company to perform their operation in a seamless manner without any disruption. Along with that, average
economic and strong social conditions will allow them to establish a successful business (Dhahri and Omri,
2018: 70). However, the lack of adequate skilled labour, strict labour laws and strict government
regulations can be a major threat for the business.
Competitor Analysis
Key competitors
In spite of its smaller size, Belgium has been flooded by creativity with more than 20,000 jobs having been
created from Flemish masters to experimental fashion designers. The country has been rich in top fashion
brands including Christian Wijants, Vier, Magdalena, YNGR, Louis and others. As per the statements of
Collins (2010: 27), increased competition can serve to be a major threat for a company in terms of
expanding their business. Bottega Veneta will be needed to define and develop effective marketing
strategies for providing unique and quality products for their customers and gain success in market.
Competitor Mapping

Figure 1: Competitor Profiling

(Created by author)
 • Target market
Target market of the company will be the individuals that prefer premium,
luxurious and quality products. It has been pointed out by Posner (2015: 2) that
selecting a target market will depend primarily on the products they are
offering or intending to offer according to preferences of customers. It will be
viable for Bogetta Veneta to offer their products to customers within the age
group of 18-24 that prefers luxury fashion products. These millennial
customers tend to purchase products from companies based on their extensive
research and reviews (Theopilus et al., 2021: 35). Bottega Veneta being one of
the largest fashion products offering companies in world will be able to acquire
trust of their customers through efficient marketing practices and offering
quality products.
• Price/Product Comparison
Price comparison refers to a process in which customers tend to compare
prices offered by a company with a similar product offered by another
company in market. As highlighted by Rath et al., (2012: 10), it is important
for a company to set prices of their products in accordance with products they
are offering and prices set by its competitors for similar products. It will be
viable for Bottega Veneta to engage in following practice and establish a
competitive pricing strategy. The consumers will be offered with unique and
quality based products at prices similar to their competitors. This will attract
people of country to purchase their product with respect to others.
Consumer Analysis
• Market segmentation
Market segmentation is a process which is applied by a company to segment a
group of people that share similar behaviours and attitudes (Varley et al.,
2018). As discussed above, Bottega Veneta has been intending to offer quality,
premium and luxury based products to its customers in Belgium. It means that
segmentation of products is being done on basis of price and can be subdivided
into three categories including supreme luxury, accessible luxury and lifestyle
Image Source: luxury. In first category, fashion products made with unique pieces will be
Vogue.com (2021). offered while in lifestyle luxury, a series of limited edition products will be
offered to customers (Galli et al., 2019: 26). On the other hand, in third
segmentation, customers will be offered with products with high fashion
content with good quality/price ratio.
• Desired Primary/Secondary Target market/s
Demographics: Customers belonging in age group of 18-24 staying in Brussels and its proximity areas will
be targeted by Bottega Veneta
Psychographics: Millennial customers that prefer high quality and premium products irrespective of their
prices will be suitable target customers for the company (Chi et al., 2021: 7496).
• Consumer profiling
The main motivation of customers opting for luxury products is uniqueness and individuals are willing to
pay any price for a product that is different from others (Muthu, 2019: 47). It will be a massive opportunity
for Bottega Veneta to offer quality, unique and premium products to their potential millennial customers in
Belgium. It will be viable for them to demonstrate unique features and aspects of their products in front of
people.
• Research methodology
In order to gain significant information regarding their customers, it will be viable for a company to make
use of primary and secondary methods of data collection (Burns et al., 2016). In primary method, the
company will survey their potential customers of Belgium for understanding their needs and expectations
from a luxury fashion product. On the other hand, a number of websites and online articles can also be
assessed by Bottega Veneta for understanding current market trends and identifying potential opportunities
and threats.
Strategies
Product Mix

Category Description

Length The company will offer luxury fashion products to its

customers which are designed and manufactured by them.

Breadth Bottega Veneta will offer luxury fashion products to their

customers in Belgium which ranges from clothing,
jewellery and accessories.

Depth Each of their product categories will offer a wide range of

options for their customers (Pham et al., 2018: 156) . It
will include varied shaped and designed jewelleries and
different kind of clothing
 Consistency Each of products offered by company is grouped under
fashion products.

Table 3: Product mix

(Created by author)
Marketing Mix

Elements Description

Product Luxurious and unique fashion products are offered by Bottega

Veneta

Price The fashion products will be priced at premium range

Place Customers can purchase their products on online and offline

stores. It provides them with flexible purchasing options (Hult
et al., 2019: 16).

Promotion Social media marketing will be utilised by Bottega Veneta to

reach their customers

Table 4: Marketing mix

(Created by author)
Communication Channels
Communication is one of the key elements of a business as interacting with customers allows a company to
understand their perceptions, needs and demands, thereby can make data driven decisions regarding
development of product (Solomon, 2010: 25). Bottega Veneta will need to communicate with their
customers on their website, through social media channels along with email. In this manner, customers will
feel valued and purchase their products from company.
Launch Plan/Campaign Ideas
 ● Launch their business by offering discounts on selected range of products
● Introduce a reward system for customers based on purchases made (Bijmolt, T.H. and Verhoef,
2017: 155)
● Communicate with customers through various channels and make them aware of their launch
Recommendations
● Bottega Veneta will need to maintain a constant interaction with their customers for understanding
their changing needs and align their strategies accordingly
● The company will need to engage in continuous innovation (Jakimowicz and Rzeczkowski, 2019:
645).
Conclusion
The above study concludes that Bottega Veneta needs to have a unique strategy in place keeping in mind
the needs and expectations of Belgian people as well as existing strategies operating in market. They will
offer their products to millennials seeking unique and luxurious products.
 ● Launch their business by offering discounts on selected range of products
● Introduce a reward system for customers based on purchases made (Bijmolt, T.H. and Verhoef,
2017: 155)
● Communicate with customers through various channels and make them aware of their launch
Recommendations
● Bottega Veneta will need to maintain a constant interaction with their customers for
understanding their changing needs and align their strategies accordingly
● The company will need to engage in continuous innovation (Jakimowicz and Rzeczkowski, 2019:
645).
Conclusion
The above study concludes that Bottega Veneta needs to have a unique strategy in place keeping in mind
the needs and expectations of Belgian people as well as existing strategies operating in market. They will
offer their products to millennials seeking unique and luxurious products.
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