Today we had two presentations of student teams:
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French Car Companies
Renault
Renault has more than 120 years of history and is France's leading automobile company. it was established in 1899. in 1999, The Renault-Nissan Alliance was formed. Based on the partnership, in 2011, the Renault-Nissan Alliance became the world's third largest automotive group. in Korea, Renault is more known as Renault-Samsung than as Renault. Renault-Samsung is actually a subsidiary of Renault. Renault-Samsung has over 200 branches and service centers nationwide, including the Yong-in Research Center, Busan production plant, and Seoul office. Renault is characterized by its high stability. also, Renault focuses on the development of electric vehicles. Renault’s another feature is that Renault maintains its pride as the only French car brand currently participating in the f-1 competition. as Renault’s flagship model, Renault Espace is the world's first Multiple Purpose Vehicle (MPV), which appeared in 1984. and secondly, renault clio is a compact car, which has been produced since 1990.
Bugatti
Bugatti is a luxury handmade car brand founded in 1909 by Etoré Bugatti. In fact, As company produces only a small amount, with a huge cost, and sells it to a small number of people, Bugatti is basically in a bad financial position. one common characteristic to all Bugatti is its unique horseshoe front grille. also, the purchase of Bugatti requires strict seven screening processes. bugatti’s flagship models are bougatti veyron, Bugatti's iconic super car, and Bugatti Chiron, the next series of the Bugatti Veyron.
Peugeot
Jean-Pierre Peugeot built a steel factory in 1810 during Napoleon's reign. Armange Peugeot built a car called Serpollet Peugeot which is type 1. Peugeot 604 was first released in Korea in 1979. In 1990, Peugeot returned with 306, 405, 406, 605, and 806. In 2003, Peugeot returned with 206 cc. Peugeot has a design lab called Peugeot Design Lab. E-208 - Peugeot's first electric car. 5008 - Official state car for French President Emmanuel Macron.
Citroen
It was founded in 1919 by Andre Citroen. Citroen, along with Peugeot, belongs to the PSA Group. The first car in 1919 was the 400cc Type A. At that time, the popularity was considerable, and the humor which is "The first words a baby learns when he is born are mother, father, and Citroen." It is a low-profile brand in Korea. Therefore, the first start in Korea was not good. DS Automobiles has been launched as an independent brand since 2015. There is a reason why these cars, which have many advantages, are difficult to see on our roads. t is because of insurance and maintenance fees, and as you can see, the difference in insurance premiums is nearly double, and the more German cars like the Benz bmw Audi. Maintenance fees are two to three times more expensive for korean cars, assuming that the same door is fixed.
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orphanage. She learned sewing to help her livelihood there. She also worked as a
singer. She had a nickname Coco, which was taken from the title of a song she sang.
One day, She meets Arthur Capel who changes her life. Chanel made hats and they
were sold well. So, in 1910, with his capital, Chanel's first store called Chanel Mod was
opened. In addition, Capel helps Chanel to open a clothes shop in Deauville. She also
meets Ernest Beau who made perfume. With his assistance, she could make Chanel's
number 5 perfume. Later in 1924, Ernest Beau, Gabrielle Chanel and Pierre Bertimer
founded the company. Unfortunately, Chanel's boyfriend was a Nazi German diplomat,
so she was expelled from Paris. Chanel was forgotten.
After 14 years, Chanel prepared for her return. Chanel held a fashion show in Paris.
Unlike Europe, America was enthusiastic about Chanel. The United States brought Chanel
back to life, and this moved Europe again. Chanel is back. Now, Chanel is the world's
leading luxury brand.
Chanel has a wide range of products such as bags, clothes, jewelries, watches and
cosmetics. Chanel's the most famous product in Korea is a bag. Chanel's bags have
been produced since 1929 and it was inspired by the military bag and the equestrian
rider's attire. Classic bag, Boy bag, Chanel 19 are representative Chanel bags. Another
famous product of Chanel is perfume. Chanel No.5 perfume is sold every 30 seconds.
The advantage of Chanel is that it’s one of the representative luxury brands. Chanel's
value doesn't change over time. And Chanel's classic bags increase in price as time
passes.
The disadvantage of Chanel is that it’s difficult to purchase the desired product and it
takes a long time to enter the store. The price of chanel bag increases every year, not
because materials or subsidiary materials have been upgraded, but to increase the value.
As the number of people in possession of Chanel bags increases, Chanel raises the
price regardless of sales to add scarcity to their products. Lastly, the price is too
expensive than the quality of the product.
The 4P MIX strategy consists of price, place, product, promotion. First, production
Strategy focuses on small-variety production, high-sensitivity images for highlights the
scarcity of the product. Second price Strategy uses high price strategy. Third place
strategy, Chanel only allows luxury department stores to maintain its brand's high-end
image. Fourth, promotion strategy uses advertisement, fashion show, investment
advertisement.
The sales volume going up even though the price goes up it can explain Veblen effect
and Panoplie effect. First, Veblen effect. Because upper class consumers have the desire
that they want to stand out more than others, upper class consumers buy it despite the
high price, Second, Panoplie effect, customers who have fantasies to upper-class people
consume a expensive product by so doing they consider to themselves like upper-class
people. Chanel's sales in Korea in 2020 are about 930 billion won. It ranks second in
Korean luxury consumption.
