Using the company that you chose in Week 4, complete the following tasks: Review the feedback from the week 6, 7 and 8 assignments and make the necessary improvements and re-submit as part of the Sign

PRODUCT MARKET PROFILE 0

Bruna Spera Martins

Southern States University

BU534 – International Marketing

Instructor: Dr. Peggy Bilbruck

Men's Gucci Tennis 1977 Sneaker The company and product that I have chosen is Gucci and its Men's Gucci Tennis 1977 sneaker. Gucci is an international Italian luxury fashion and leather goods brand which was founded in 1921 by one Guccio Gucci in the city of Florence, Tuscany. The brand is currently one of the oldest Italian fashion brands operating today. The current CEO of the company is Marco Bizzari. Furthermore, by September 2009, Gucci had approximately 278 directly operated stores globally, with its products wholesale done via franchises and upscale department stores. The company has developed over the years as a symbol of abundance that not only represent a luxury fashion house, but also slang for great success. Thus, its consistent inspiration for many hip-hop and rap artists is drawn from its rich history of opulence and boldness. The French luxury group, Kering is the current owner of Gucci. The former and its proprietor Francois Pinault also own notable brands like Alexander McQueen, Balenciaga, and Yves Saint Laurent. Gucci trades in products for virtually every purpose and gender. Amongst them is them is the Gucci Tennis 1977 Sneaker. The latest low-top sneaker by the brand draws its design inspiration from tennis-shoe. The sneaker is a reinterpretation of another sneaker found on the brand’s archive, and combines both a modern spirit and original (classic) details, under which the Gucci creative director Alessandro Michele describes as ‘‘a neoclassical philosophy - the act of intentionally imitating an antique example” (GQ Staff, 2020). As a re-imagination of the 70s tennis shoes which arguably both have figuratively and literally stood the test of time, the Gucci Tennis 1977 Sneaker is both durable and easy to wear (Gucci International, 2020). It has a texturized rubber sole and a low-top made of canvas. The sneakers can be worn with a diverse range of outfits, including suits, corduroy flares, denim jeans, shorts, etc. Furthermore, the product comes in Gucci’s signature plain colors, distinctive prints, neat finish and touch, etc. In addition, the product comes in seven different styles in ranges, which are all unisex.

1. Who buys the product?

Men of all ages

2. Who does not buy the product?

Women

3. What need or function does the product serve?

The sneaker is footwear.

4. Is there a market need that is not being met by current product/brand offerings?

Yes. Though there are several sneakers out there from different brands, the Gucci’s Tennis 1977 Men’s Sneakers have a unique offering in that they feature a luxurious modern design and a classic feature. The luxurious touch makes it wearable in any context and with every outfit.

5. What problem does the product solve?

The main problem that the product solves is the need for luxurious, durable, and easy-to-wear sneaker-shoes.

6. What are customers buying to satisfy the need for which the product is targeted?

There are other sneaker varieties, from Gucci or otherwise, that customers are currently buying.

7. What price are they paying?

Between $ 630.00 and $ 690.00

8. When is the product purchased?

Since the product is currently in the market, it can be purchased at any time.

9. Where is the product purchased?

The product can be purchased directly from the approximately 278 directly operated stores globally, with its products wholesale done via franchises and upscale department stores. Apart from Gucci houses and branches, there are other retailers (both brick-and-mortar and online) that also sells the product.

References

GQ Staff. (2020, February 10). Gucci’s New 1977 Tennis Sneakers Are The Same-Same But Different. Retrieved May 7, 2020, from GQ - GQ Middleeast: https://www.gqmiddleeast.com/style/guccis-new-1977-tennis-sneakers-are-the-same -same-but-different

Gucci International. (2020). Men's Gucci Tennis 1977 sneaker. Retrieved May 7, 2020, from Gucci International: https://www.gucci.com/int/en/pr/men/shoes-for-men/sneakers-for -men/low-top-sneakers-for-men/mens-gucci-tennis-1977-sneaker-p-606111GZO309361

Using the company that you chose in Week 4, complete the following tasks: Review the feedback from the week 6, 7 and 8 assignments and make the necessary improvements and re-submit as part of the Sign 1