The cost of the products starts from $50 and can go up to $3000 and above. Will This New Laptop Style Resurrect the Athleisure Look? What remains is the notion that people (and young ones!) In 1997, CEO Pietro Bertelli led the company to revenue of US$674 million. The brand has gained worldwide fame and recognition because of its qualitative products. The Prada brand is one of the worlds most influential fashion houses. Prada adopts the broader blue ocean strategy through different means and frameworks. Prada has a strong brand presence in the worldwide market. Brands like Prada also use digital marketing to reach their target audience. Prada recognizes its social responsibility and took part in a charity event that worked towards Breast cancer prevention. The company targets both men and women and offers apparel and accessories for both. Currently the CEO of Prada is Patrizio Bertelli. What is your salary expectation in USD per month? The company has a loyal customer base and its products have a high level of brand equity. The prices vary accordingly based on the country. Crafting An Effective Answer To A Key Medical School Interview Question, Failing A Step 1 Interview Question: Reasons And Tips For Improvement, Write For Us Business, HR, Business Advice. The Group now manages 147 social accounts across its brands with more than 5,000 posts published from this central platform this year. The perfume sector has ranges namely La Femme Prada, LHomme Prada, Olfactories and Les Infusions under inconic scents, Prada Candy and Prada Amber for women, Prada Luna Rossa for men and Amber Pour Homme all under the Puig brand. s important to maintain a constant renovation in terms of aesthetics. I am a Digital Marketer and an Entrepreneur with 12 Years of experience in Business and Marketing. The fact that their brand has remained relevant over time is a key component of their success. Semantics topics relating to the brand Prada can be found here. In them, we have mentioned the fact that luxury brands dont compete with each other. Your email address will not be published. How to Dress Like an Individual Without Being Cold. Hi, I am an MBA and the CEO of Marketing91. Now that Pradas target audience is broader, this is compounded by technological advances. Later, it started selling bags and also clothing, accessories, perfumes, shoes, etc for both men and women. Prada offers sports and lifestyle line under its brand Linea Rossi. Luxury brands work to offer the greatest possible exclusivity to each of their customers, and the case of Prada is no exception. Required fields are marked *. . document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. In Q3 of this year, Prada added customer care to enable sales agents to provide their customers with the highest-quality, most complete digital sales experience available today. Other Ps include people, process, and physical evidence that many companies use to promote products. The highly acclaimed company was founded in the year 1913 by its founder Mario Prada. Prada ecommerce lifecycle campaigns and user journeys. Dont wait any longer to get the help of the best specialists in digital marketing. Make better business decisions Marketing Global luxury brands go deeply local. This website uses cookies to improve your experience while you navigate through the website. Prada has been associated with celebrities and famous personalities some of which have acted in its commercials. It has a wide range of collections of fashion products and apparel to offer to its customers. The luxury brand is now one of the most prestigious labels on the market, with a global reach. This can prove to be a massive success for both these brands since it has massive followers all over the world. Its long history and high returns on capital help it stand out among its competitors. The company designs, produces, and markets high-end ready-to-wear, leather goods, footwear, eyewear, fragrances, and timepieces. In our previous article, we learnt in detail about the marketing strategy of a fascinating brand, Digital Marketing Courses Across The World, Digital Marketing Courses in Mumbai | Navi Mumbai | Andheri | Mulund | Vashi | Thane | Churchgate | Delhi | Noida | Hyderabad | Gurgaon | Udaipur | Surat | Pune | Patna | Nagpur | Lucknow | Kolkata | Jaipur | Indore | Chandigarh | Ahmedabad | Nigeria | Dubai | Abu Dhabi | Egypt | Nepal | Malaysia | Sri Lanka, 3. Prada is one of the worlds leading luxury fashion brands. PradaPhotography.com. It has a considerable amount of audience who are willing to pay for the same. Today, Prada Group Marketing Director Lorenzo Bertelli explains, We believe the future of our luxury brands will be defined by the experiences we create for our customers. From personalized engagements in stores to humanizing interactive and immersive experiences across our digital and social shop windows, Bertelli says, Each brand within the Prada Group will be unified across in-person and digital channels in order to serve customers when and where they desire the best experience.. Prada has a high brand value and hence has adopted a premium pricing policy for its customers. Get inspired by our semantic related topics associated around the brand prada. If you liked this case study please like, share, and leave a comment. And now I am searching for the marketing mix, which means Product, price, distribution- and communication of Prada. Marketing strategies used by Prada For Prada to be able to achieve effective actions, it has been guided by the following marketing strategies: Put omnichannel into practice When we talk about omnichannel, we mean that Prada focuses on providing a good experience to its customers through its online and offline stores. Today, Prada is one of the most influential fashion houses in the world. With this, we sum up the entire case study. While other traditional luxury brands have incorporated augmented reality into their marketing, Prada is the only one to do so. Pradas target market is the global luxury consumer. Sometimes it caters to its clients by creating customized goods that are charged at highest premium rates. Although accessories are the main source of revenue for many luxury houses, they generate Prada's lowest business share. Prada has spread its presence in most countries of the world and has its headquarters based at Milan in Italy. What is Pradas marketing strategy? Because they dont show off all of their collections, they only display photos of them. The company designs, produces, and markets high-end ready-to-wear, leather goods, footwear, eyewear, fragrances, and timepieces. A marketing strategy is a detailed, structured plan of a company's promotional efforts across a wide range of platforms and channels. These shows are attended by a lot of famous personalities who wear the brands product or being a part of its ad campaigns. According to their 2020 annual report, Prada Group lost around 25% in revenues and in total net sales compared with the previous year. Prada carries gentle dominance [31%] and is perceived very feminine. Want to get in touch? The company has people working in its sales team who are trained. Thanks to the innovative marketing approach that allows the Italian luxury brand to directly communicate with its audience, Prada is improving the customer experience on all its digital platforms. Prada Group's digital strategy ensures the company remains at the center of larger cultural conversations and trends that impact the brand and enables them to provide the holistic customer. The companies are not associated with MBA Skool in any way. She later met Patrizio Bertelli in 1977, married him a few years later and together they kept bringing introducing new chic lines like the ready-to-wear, narrow belts and dropped waistlines categories in the existing brand portfolio but always maintained its quality, sophistication and luxury amongst its customers. In the first half of fiscal year 2020, Prada Group recorded a net loss of 180 million euros due to the implementation of Covid-19, and revenue fell by 40%. Let us now know in detail about the 7Ps of the marketing mix and how Prada uses it to its benefit to promote its products in the market. Any in case you want an AI which creates new content around those ideas, just ask the neuroflash AI to help you.". The brand has also opened its stores in Hong Kong, Germany, Austria, Canada, India, Indonesia and Australia. However, the luxury house wants to improve the perception of its brand by positioning itself in a higher price range in terms of the most frequent price and maximum price. If you are interested in learning more about digital marketing, we at IIDE provide Free Masterclass. The Marketing Team is dedicated to studying business performance and trends in order to guide strategic choices on price, product, positioning, distribution and the development of creative projects to support the visual identity of our brands. Along with these promotional strategies Prada also does promotional activities through hoardings, billboards, newspapers and giving details about its product or campaigns, launch, etc through its official online website. Prada prices are much higher compared to Gucci and Louis Vuitton yet they have maintained high market share. In my course Marketing I have to do a case study of Prada. Below is the pricing strategy in Prada marketing strategy: Prada has a premium pricing in its marketing mix strategy owing to their luxurious line of products. The company has built a huge online presence as its products are available on various other websites like Darveys, Farfetch, etc in addition to its existent official website. In Shanghai, the Prada brand has four retail locations: IAPM Mall, Shanghai Shangjia Center, and Shanghai One ITC Mall. As mentioned earlier, it was discovered in Italy since then the company has evolved and became a renowned fashion brand across the globe. Helmut Lang, Amy Fairclough, Ghee, and Jil Sander were all sold by 2006. Brands like Prada also use digital marketing to reach their target audience. Pradas target market is the global luxury consumer. It has adopted several advertising methods to create and retain its brand name. To grab customers' attention and make a secure place in the competitive market there is no other option rather than marketing . It has been reviewed & published by the MBA Skool Team. When the global COVID-19 pandemic began and digital channels became, in many cases, the only way to engage with consumers, Prada recognized the need to enhance and scale its digital-first strategy. Get insights on Prada's marketing strategy to help you build and optimize your email sequences and user journeys. According to a statement released by the company, it is a new approach to the very definition of creative direction for a brand. These stores were designed to give customers a unique Prada experience. Some high profile models include Sasha Pivovarova, Vlada Roslyakova, Ali Stephens, Suvi Koponen, Vanessa Axente, Gemma Ward and Daria Werbowy. Powered by - Designed with theHueman theme, Marketing Strategy and SWOT Analysis of Porsche, Marketing Strategy and SWOT Analysis of SpaceX, Marketing Strategy and SWOT Analysis of Starbucks, Marketing Strategy and SWOT Analysis of Horlicks. It is a high-end design house that offers a wide range of items, including travel equipment, purses, shoes, fragrances, apparel, fashion accessories, and watches. In the year 1988, it participated in its first show for womenswear and in the year 1993 for a menswear collection. | Save 20% extra on our annual plans with coupon: Magic20, ChatGPT Copyright: Everything you need to know, Are You Mr. The company has a reputation for quality and craftsmanship. https://blucactus.blue/wp-content/uploads/2021/11/Blucactus-What-is-Prada_s-marketing-strategy-cover-page.jpg, http://blucactus.blue/wp-content/uploads/2018/02/blucactus-logotipo-eng.png. While Prada also actively pursues the red ocean strategy, it is also an avid follower of the blue ocean strategy. Succesful brand communication often utilizes what people already like about a brand to drive positive perception. Hint: These content ideas were generated by neuroflash's AI and are unique. These pictures match the association of "Prada". BluCactus international marketing agency serves clients all over the world. It opened its first largest store in Emirates, Dubai in the year 2012. For its online store, the company has a computer system that records the orders received online and then based on these orders the product is shipped from their inventory to the delivery site. Clothing makes up the second-highest percentage of business share second only to leather goods, which are part of Pradas rich design heritage. Prada is one of the worlds leading luxury fashion brands. The companys target market is well-defined, and its distribution network is extensive. Due to its pricing strategy, Prada is known as a high fashion brand with a premium status symbol. Prada was founded by Mario Prada in 1913 in Milan, Italy as a luxury fashion house located at Galleria Vittorio Emanuele II. All rights reserved. A marketing strategy will: Align your team to specific goals. - But Only With This Type of Slim-Fit Trousers. Prada has a long history of providing luxury fashion products to its customers. Prada has a vast product portfolio. It is a public limited company of Italian origins. To promote their brands, they have always gone to great lengths to employ an aggressive marketing mix. They have a wide range of high end ready to wear clothes, leather goods, eye wear, fragrances, home products, footwear, watches and clothing for both men and women, which for the marketing mix product strategy. Check on the right - it's so easy! Furthermore, Prada recognizes that good SEO actions must carry a significant amount of weight in order to rank high in search engines. Similarly, through online stores, you can see all the details of the product, so making an online purchase and receiving the order at home is also an option that they have available. The brand is also present on several multi-brand ecommerce platforms, allowing users to shop online. Color indicates mood. Marketing strategies used by Prada For Prada to be able to achieve effective actions, it has been guided by the following marketing strategies: Put omnichannel into practice When we talk about omnichannel, we mean that Prada focuses on providing a good experience to its customers through its online and offline stores. More green means more positive, more red means more negative. However it all depends of the attributes that the leaders of those organizations have in order to create a good marketing strategy that will be beneficial for the organization. So Prada management have been "reviewing prices, product variety and . Prada has been the recipient of several awards and recognitions. More green indicates more positive results, while less red indicates less positive results. The companys reputation and high returns on capital provide it with a competitive advantage. Along with this, the company also launched an exclusive collection for men and women concerning its coast theme. For this reason, luxury fashion couldnt fall behind. It has a wide range of collections of fashion products and apparel to offer to its customers. All this is in exchange for paying a high price for a garment or an accessory, that is, elegance and exclusivity. Besides, Instagram is also a platform widely used by this firm. But for Prada, this category doesn't perform so well. Your email address will not be published. While it is true luxury brands do not compete with each other, on the contrary, the competition is individual. Prada has a diverse portfolio of products in addition to eyewear and fragrance. It has also launched a clothing line for children and a product line called Miu Miu line for younger generation. On our bootcamp page, you'll find a number of helpful tutorial videos. In fact, they dont mind paying whatever the price is as long as they can satisfy their fashion needs. For its distribution strategy, the brand has opened flagship stores known as the. However in 2020, due to a pandemic, there was a fall in its revenues and a 40% decline in its sales. In addition, Prada Symbols, a limited-time store, opened in Beijing SKP. Pop-up stores based on various themes have been established, such as Hyper Leaves and Prada Escape. Discover our magic quill anew every week. Prada SpA (OTCPK:PRDSY) Q4 2020 Earnings Conference Call March 10, 2021 8:30 AM ETCompany ParticipantsAlessandra Cozzani - CFO, IR Director & Executive DirectorPatrizio Bertelli - CEO. How To Do Attract New Customers To Your Business? Prada was founded in Milan in 1913 as a leather goods store, primarily making handbags and suitcases. The Prada marketing team can consider implementing a more robust security strategy for its online stores and platforms to mitigate these risks. Now that we learned some details about the brand, lets dive into its marketing mix. Pradas New Year advertisements highlight the companys commitment to young consumers, using well-known fashion models and actresses. Your email address will not be published. Its products are sold in over 70 countries. The Poor Kid Who Invented Prada: A Story of Struggle. Ten Ways to Reduce Stress on the Job. Currently, Prada has six hundred and eighteen outlets situated in megastores, malls and multi-purpose buildings all over the world. Exactly how they accomplished that, however, has transformed tremendously over the last few years to meet the needs of todays digital world. For its distribution strategy, the brand has opened flagship stores known as the Prada Epicenters, to give its customers some unique Prada experience. It is considered to be a luxury fashion brand not only in India but also worldwide. 2. Marketing strategies are being used in all businesses that want to gain greater visibility and increase sales. It is really hard to find some information. The four Ps are product, price, place, and promotion. In this article, we will critically analyze the Marketing Strategy of PRADA in UK. With this, we sum up the entire case study. Prada being a brand has to live up to peoples expectations towards the brand and therefore, it has a lot of people working under it in different departments. Of course, in other blogs, you can also find useful information related to marketing using haute couture. In 1913, Mario Prada and his brother Martino opened Milans first leather goods store. The app is located at http . The first strategy in Pradas China success is to optimize its ecommerce platforms. They opened the largest boutique at Mall of the Emirates, Dubai. Pradas products are not mass-produced, but are instead handmade by skilled artisans. Thats why they have been using marketing strategies within their action plan to maintain the standards of exclusivity and keep their profits high. As mentioned before, in June 2021 Prada launched a project known as Prada Outdoor Coast Brodum, inspired by the beach. Prada's products are not mass-produced, but are instead handmade by skilled artisans. Scarves? No credit card required. Our specialty? The weakness column reveals the loophole in each business strategy. The companys Take Prada to the People initiative was a multi-platform effort that included everything from traditional print and television ads to a social media push and even a pop-up shop in New York City. In 1979, there was also a womens footwear line that quickly became a sensation. It has been publicly traded on the New York Stock Exchange since 1987. The major fashion capital is home to the oldest Italian shopping gallery, the Galleria Vittorio Emanuele II, where Mario Prada opened his first boutique of the eponymous fashion house in 1913. They are an example of a "marketing mix," or the combined tools and methodologies used by marketers to achieve their marketing objectives. As mentioned before, the company started gaining popularity by selling nylon waterproof backpacks. Communication & Marketing: Prada Digital Junior Copywriter. Pradas marketing strategy is to target a select group of high-end consumers who are willing to pay a premium price for the companys luxury goods. Prada also knows that today, SEO actions carry a lot of weight to obtain a good positioning in search engines. The mission for Prada is to be the favorite brand of the customers. Suburbia isn't far off Localised marketing enables luxury brands such as Balenciaga, Prada and Longchamp to connect more meaningfully with their customers. The online website is also user-friendly which provides images of the products clicked in high quality and from every angle so that a customer does not face any difficulties while shopping online. For this firm, it is of great importance to online advertising, which is why Facebook ads arevery effective since they have a high level of market segmentation. Our Helpcenter provides articles for help and training. This goes from the creation of the branding of your business to the creation of content. Pradas target market is the global luxury consumer. Here is how Prada leverages the medium to interact with their digital audience. And they not only care, but they want to debate them on TikTok. While many luxury brand websites are performing poorly when compared to other websites, this is not a direct result of the websites design. Over the past 18 months, the Prada Group has worked to unify additional customer-facing functions on this same platform. Millennial Fashion Report - Who the Hell are Millenials? Prada Made-to-order collection Market nicher strategies Quality-price specialist Product line specialist Managing Brand Equity Brand reinforcement through new and innovative collections. 1. Assessing A Candidates Understanding Of The Software Development Lifecycle Through Interview Questions, Confronting Unexpected Questions In An Interview: How To Respond To The Most Embarrassing Moment Question, Showcase Your Critical Thinking Skills In An Interview: Tips And Strategies, Why Are You Here? People working with the suppliers obtain the raw materials and make sure that the high quality of the final product is maintained. Recently in 2021, Prada collaborated with Adidas to present two new brand colourways of the LUNA ROSSA sneakers which will be available from July 19th, 2021. You can find more information. A virtual influencer has not been used before by the luxury fashion brand. It also conducts market research to know more about its customer needs and ask their feedback about its experience with Prada. Is It Weird to Wear Dirty Sneakers with a Suit? Prada has an annual revenue which exceeds more than $4 billion. Your email address will not be published. Prada has targeted men, women, and children from upper-class families in urban cities for its premium products. Miuccia Prada and Simons both opinionated, style-shaping designers created their first womens collection, called Dialogues,which will debut in September 2021. In this blog, we shall learn about the marketing mix of Prada including its 7Ps, but before diving into it, lets learn more about the company first. Comparing 2020 and 2021, even if the most frequent price remains unchanged over this time, a notable increase in the minimum price of 68% can be observed. The companys products are priced at the high-end of the luxury market and its customer base includes wealthy individuals and celebrities. Every season, the collections are presented not only at fashion shows, but also in campaigns that are witty and entertaining. to increase your audience and sales today! Pradas marketing campaign is one of the most memorable and effective in recent years. In the year 2012 Prada had inaugurated its largest boutique at Mall of the Emirates in Dubai. Women denim jeans 2021: what's the trend? Being a luxury brand, it is famous amongst the upper class, rich society, and also fashion influencers. As its clients belong to the elite class to whom money does not matter much the company has been successful with its premium pricing policy. Hence, this concludes Prada marketing strategy & marketing mix. Currently, Prada is having 618 boutiques spread globally across malls, megastores, etc. The flagship store opened on Broadway in New York is one the most successful store globally. The addition of Raf Simons creativity confirms that the pioneering fashion houses contemporary vision is sufficiently agile to respond to societal changes and its customer bases evolving tastes. E-commerce grew by 100% or more compared with last year. When thinking about fashion, the city of Milan inevitably comes to mind. At the end of the financial year 2016, it posted its revenues at 3.91 billion US Dollars. In February 2018, the company announced that it would relocate its Milan headquarters to Borsa Italiana. Marketing Strategy of Prada analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). The goal of the campaign was to make Prada more accessible to a wider audience, and it succeeded in doing just that. This flower graph shows the positive and negative brand attributes of prada. Prada was perceived differently from other similar brands and was more desirable thanks to the connection with the royal family. Globally, known for selling its products related to fashion right from clothing to leather handbags to accessories, shoes, perfumes, etc. Prada has understood the importance of this tool and has taken advantage of it. Will the personalized customer strategy allow Prada to accelerate and strengthen its clients engagement? Your Country ---Afghanistanland IslandsAlbaniaAlgeriaAmerican SamoaAndorraAngolaAnguillaAntarcticaAntigua and BarbudaArgentinaArmeniaArubaAustraliaAustriaAzerbaijanBahamasBahrainBangladeshBarbadosBelarusBelgiumBelauBelizeBeninBermudaBhutanBoliviaBonaire, Saint Eustatius and SabaBosnia and HerzegovinaBotswanaBouvet IslandBrazilBritish Indian Ocean TerritoryBruneiBulgariaBurkina FasoBurundiCambodiaCameroonCanadaCape VerdeCayman IslandsCentral African RepublicChadChileChinaChristmas IslandCocos (Keeling) IslandsColombiaComorosCongo (Brazzaville)Congo (Kinshasa)Cook IslandsCosta RicaCroatiaCubaCuraaoCyprusCzech RepublicDenmarkDjiboutiDominicaDominican RepublicEcuadorEgyptEl SalvadorEquatorial GuineaEritreaEstoniaEthiopiaFalkland IslandsFaroe IslandsFijiFinlandFranceFrench GuianaFrench PolynesiaFrench Southern TerritoriesGabonGambiaGeorgiaGermanyGhanaGibraltarGreeceGreenlandGrenadaGuadeloupeGuamGuatemalaGuernseyGuineaGuinea-BissauGuyanaHaitiHeard Island and McDonald IslandsHondurasHong KongHungaryIcelandIndiaIndonesiaIranIraqIrelandIsle of ManIsraelItalyIvory CoastJamaicaJapanJerseyJordanKazakhstanKenyaKiribatiKuwaitKyrgyzstanLaosLatviaLebanonLesothoLiberiaLibyaLiechtensteinLithuaniaLuxembourgMacao S.A.R., ChinaMacedoniaMadagascarMalawiMalaysiaMaldivesMaliMaltaMarshall IslandsMartiniqueMauritaniaMauritiusMayotteMexicoMicronesiaMoldovaMonacoMongoliaMontenegroMontserratMoroccoMozambiqueMyanmarNamibiaNauruNepalNetherlandsNew CaledoniaNew ZealandNicaraguaNigerNigeriaNiueNorfolk IslandNorthern Mariana IslandsNorth KoreaNorwayOmanPakistanPalestinian TerritoryPanamaPapua New GuineaParaguayPeruPhilippinesPitcairnPolandPortugalPuerto RicoQatarReunionRomaniaRussiaRwandaSaint BarthlemySaint HelenaSaint Kitts and NevisSaint LuciaSaint Martin (French part)Saint Martin (Dutch part)Saint Pierre and MiquelonSaint Vincent and the GrenadinesSan MarinoSo Tom and PrncipeSaudi ArabiaSenegalSerbiaSeychellesSierra LeoneSingaporeSlovakiaSloveniaSolomon IslandsSomaliaSouth AfricaSouth Georgia/Sandwich IslandsSouth KoreaSouth SudanSpainSri LankaSudanSurinameSvalbard and Jan MayenSwazilandSwedenSwitzerlandSyriaTaiwanTajikistanTanzaniaThailandTimor-LesteTogoTokelauTongaTrinidad and TobagoTunisiaTurkeyTurkmenistanTurks and Caicos IslandsTuvaluUgandaUkraineUnited Arab EmiratesUnited Kingdom (UK)United States (US)United States (US) Minor Outlying IslandsUruguayUzbekistanVanuatuVaticanVenezuelaVietnamVirgin Islands (British)Virgin Islands (US)Wallis and FutunaWestern SaharaSamoaYemenZambiaZimbabwe. Known for being one of the most influential fashion houses in the world, Pradas success is due largely to its close study of changes in contemporary society and its commitment to freedom of creative expression. This brand carries out online campaigns since it is a good strategy to take its consumers to its physical stores. The success of Miuccia Prada is attributed in part to its unique selling strategy and ability to stay ahead of the competition. Ads are displayed in Elle and Vogue, which have a distinctive viewership of its own. It was founded in 1913 by Mario Prada and has been owned by the Italian fashion house Miuccia Prada since 1978. The corporation has a distinct colour and packing of its products so that it is easier for its customers to identify the product placed on retail shelves. With this, we come to the end of our Marketing Mix Strategy Of Prada using the 4Ps. In fact, many luxury brands have already understood that both should go hand in hand, but in this post, we are referring to the Prada brand. In the year 2017, under a sponsorship deal, it was declared that Prada would be hosting sponsors at 2021 Americas Cup for Challenger Selection Series. Now we got the basic idea of the people strategy used by Prada. Sub-topics for the topic cluster feminism are sexism, masculinity, inclusivity, and fetishism. Lets dive into Retviews data to discover more about what makes Prada resilient. Miuccia Prada organized a travelling art gallery to connect with the younger generation that she targeted through her Miu Miu brand. They have always adopted an aggressive marketing mix promotional strategy to promote their brands. For this reason, luxury fashion couldn't fall behind. This allows the company to charge a higher price point for its products. Did you know that AI can help you create content 10x faster? Let us start the Prada Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies: The product strategy and mix in Prada marketing strategy can be explained as follows: Prada is known for its sophisticated, luxury products available for men and women in all target segments.