If you have read some of our others posts on Louis Vuitton you know that he himself came from humble beginnings. At a young age he set out alone from his small town on foot leaving his family and everything he knew behind to seek better opportunity and a better way of life. When he realized his passion for box making he thus strived to bring his brand and creations to life, never giving up no matter the setbacks he faced. Now all of these years later the Louis Vuitton brand is not only a well known name throughout the world it is also the top luxury brand that has branched out from just luggage and handbags to an all encompassing line of fashion for both men and women. How did Louis Vuitton set his brand apart from all of the others in such a competitive market? While also making sure his brand and items continuously held their value?
No matter what your brand or business may be the key is how you set yourself apart from the competition, which Louis Vuitton seemed to understand from the get go. Whether you own a garage door company in a big city, a massage business or even an auto detailing company it is crucial to carve out a presence for your business amongst your competitors. How do you go about doing so exactly? It seems a lot easier said than done. Following these guidelines can help you set your business apart from the rest while helping to create the same magnitude of success as Louis Vuitton and his brand!
Establishing Brand Presence in A Competitive Market
- Goals- It is VERY important that you establish both short and long term goals. All business owners have their eye on the prize but in order to get to the bigger goals you must first start with the smaller ones. Think of conquering the small goals as building a strong foundation for your brand
- Study Your Industry- There is no better way to understand your competitors than immersing yourself in your market. Understanding your competitions product, services offered and business processes can go a long way in helping you to no only outshine them but also differentiate yourself. Parker Garage Door owner and operator Leann, solidifies the fact you have to be at least one step ahead of your competition. In the garage door repair industry in a large city consumers have an abundance of options. Why should they come to you? Why should they seek your services? What makes you better and different from the other companies?
- Brand Quality- The quality of your product is very important. You want to provide consumers with a brand that they no will last and retain its value. Louis Vuitton handbags and apparel is pricey but it never really depreciates in value. Same goes for services provided even those of garage door repair. If the job is done well with quality materials customers will see long lasting results and be more apt to use you in the future or recommend you to others in need of the same services.
- Customer Service- Developing strong and courteous customer service is just as important as brand quality. Louis Vuitton established a respectable and trusted relationship with the wealthy. During that era the wealthy was the elite class and gaining credibility with the like was a huge stepping stone adding to his success.
- Perseverance- Setbacks are just that setbacks. In any business you will inevitably experience some at one point or another. The way you handle and deal with these setbacks will indeed set you apart from the others in your industry. Louis Vuitton didn’t give up when his first luggage shop was vandalized and all of his equipment was stolen. Instead he came back bigger and better than ever. If he had given up where would the Louis Vuitton brand be today? Most probably not ranking number one amongst the other luxury brands of the world.
In a nutshell starting and succeeding in business and establishing your brand is not for the weak minded. You must go into business with passion, dedication and a thick skin if you want to grow and succeed. ALWAYS keep your eye on the prize (your end goal) but never become so focused on it that you are not paying attention to the smaller step stones needed to get there.