This illustrated strategic fashion marketing plan evaluates Prada’s current positioning and strategy in the luxury fashion market. Based on market trends, brand desirability, and product value research, this work introduces a new mixed-marketing strategy and considers its implementation for Prada.
The objective of this report is to analyze and evaluate the brand’s market segmentation, activities, aims, and results achieved through the restructuring of marketing tools and methodologies.
Prada Business Strategy
Market Positioning
Marketing Plan
​Taking into consideration Prada’s aspiration to be a leading company for its consumers and the growing popularity of millennials and Generation Z, a new strategic marketing plan should be utilized. This should feature the creation of a new category of limited-edition leisure streetwear and black nylon bags, and generate communication strategies related to the use of technology, omnichannel services, art, and social media as the company’s new marketing strategy.
Its successful implementation in an increasingly fragmented market would help Prada regain its position in the world of super luxury brands.
The key concepts of this strategy will concentrate on:
• Building on the brand's established reputation and profile
• Introducing two collections without departure from the brand's identity
• Investing in technology through new retail practices
• Better targeting the tastes of the market segmentation
• Digital transformation and communication
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