Read the case “The Louis Vuitton $2900 Smartwatch—High Tech or High Fashion? It’s All in the Eye of the Beholder” in Chapter 5. Incorporate the following topics into an essay in the order depicted...

The Louis Vuitton Smartwatch—High Tech or High Fashion
The Louis Vuitton Smartwatch—High Tech or High Fashion
Introduction
By the virtue of this report, I have performed extensive analysis on the branding strategy of Louis Vuitton, the rationale behind their super expensive pricing of their products as well as what makes a brand luxury. Furthermore, I have broken down the report taking into the consideration Tambour Horizon, highly expensive Loui Vuitton smartwatch. I have explained the success of Loui Vuitton products especially smartwatch using the framework of Maslow's Hierarchy of Needs as well as leveraging the concepts of self-esteem and self-consciousness. Furthermore, in the report you will also find the brand archetype and personality of Loui Vuitton products especially the Smartwatch. I have dived deeper with the comparison of Louis Vuitton Smartwatch to that of Apple watch.
Louis Vuitton, popularly referred as LV, is one of the most valuable brands in the world. This French house is home to some of the most luxury goods and known for its high-priced products. It was founded by Louis Vuitton in 1854 in Paris. One of the clear indications that it’s a LV product is its classic monogram that appears on all its products that ranges from hand bags, watches, leather goods and luxury trunks. It is one of the world's leading international fashion housed that sells products only through LV exclusive showrooms, standalone boutiques, lease departments at high-end locality as well as e-commerce section of the website.
Maslow’s Hierarchy of Needs into which the Tambour Horizon best Fits in the Pyramid
I strongly believe the best way to comprehend the massive success of Loui Vuitton Products is by leveraging Maslow's Need Hierarchy framework. Primary focus of any marketer is to engage with people which essentially urges the innate need to comprehend the human nature. Since customers are humans hence it becomes all the more important to understand what are their needs, reactions, perceptions, desires and priorities (Cherry, 2015). This requirement can be best explained by Maslow's Hierarchy of Needs and reason why marketer refer to the framework before developing any marketing strategy. Maslow's Hierarchy of Needs provides tremendous insights to the consumer buying behaviour and how needs can influence the marketing strategies utilised by the brand.
Maslow's hierarchy of needs basically explains what motivates the human behaviour and well-known theories used in several organisation to motivate their employees. As per the psychologist, Abraham Maslow, actions of people are always driven to achieve certain needs. These needs are arranged in the form of pyramid where the need at the bottom represents the basic physical requirements that encompasses food, sleep, water and warmth. Once these needs are fulfilled, people will move to the next level of needs that comprises safety and security (Goebel & Brown, 1981). Essentially, as we move above in the pyramid, needs that people have becomes extremely psychological as well as social in nature. Therefore, the need for friendship, love and intimacy becomes highly critical. The spectrum of smartwatch...