Grade Booster exam workshops for 2024. Join us in to Birmingham, Bristol, Leeds, London, Manchester and Newcastle Book now

In the News

Prada Changes its Marketing Mix

Jim Riley

28th August 2016

A topical example here of a necessary change in the marketing mix to support a new marketing strategy.

The BBC reports that Prada wants to target a younger audience and connect with them online rather than continue with a strategy of open physical stores.

So Prada management have been "reviewing prices, product variety and online marketing to appeal to more customers".

Prada's global sales have stalled at around €3.1bn in each of the last three financial years and most recently have fallen by 15% in the last six months. This has been partly due to a downturn in demand from China and Italy.

Rival luxury brand Burberry has successfully repositioned itself with a lower-priced product range to appeal to new customers.

Can Prada do the same?

Jim Riley

Jim co-founded tutor2u alongside his twin brother Geoff! Jim is a well-known Business writer and presenter as well as being one of the UK's leading educational technology entrepreneurs.

© 2002-2023 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.