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L'Orals Marketing Mix - Assignment Example

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The paper “L'Oréal’s Marketing Mix” will provide the approach for the analysis of L'Oréal’s marketing mix, which will follow the pattern of product, price, place, and promotion.The most of the products go by an English name…
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LOrals Marketing Mix
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"L'Orals Marketing Mix"

Download file to see previous pages The firm’s internationalization process followed an Uppsala model rather than Product Life Cycle or Born Global approaches. L'Oreal enjoys positive Country of Origin Effect and clearly seeks to maximize on global consumer perceptions that French skin care products are of high quality. Part 1: L'Oreal’s Marketing Mix- Standardisation/Adaptation to International Markets The approach for the analysis of L'Oreal’s marketing mix will follow the pattern of product, price, place, and promotion. In terms of L'Oreal’s products, it is noted that most of them go by an English name across the international market, for instance, Maybelline, Softsheen Carson, Matrix, Ralph Lauren, Stella McCartney and Roger and Gallet. The exceptions of English-named products all use French names such as Lanc?me, L'Oreal Professionnel and Kerastase (L' 2011). This is indicative of a standardization approach, which for multinational marketing such as the one undertaking by L'Oreal follows a globalization, adopting the most widely used language for their products. Through taking advantage of the wide use of English, the firm is able to reach wide markets without having to adapt through use of local languages for branding. Another aspect of L'Oreal that is indicative of standardization is its maintenance of the same packaging and design as much as possible, only changing it due to the nature of the product (for example fluidity). In terms of product usage, it is clear that the company aims to establish a range of products that can fit everyone; for instance, through using the same product portfolio for the entire European zone. There are however elements of adaptation in L'Oreal product considerations as evidenced by the company’s operations in the Asian markets. A manifestation of this is conducting surveys and tests to learn about the differences in the nature of Chinese skin in order to develop products best suited for this market. Besides using research laboratories, the company has also previously commissioned a research by Wang, Fang, and Zhu (2008, 57-66) to investigate Chinese skin. Similar efforts have also been made by the firm in the USA (Benard et al. 2005, pp. 278-287). This standardization/adaptation mix strategy is also evident in India, where L'Oreal launched the global brand Garnier (standardization) but then tailored it in formulation and packaging (adaptation) to fit the Indian market as was well reported by Warc News (2010, p. 2). Analysis of the company’s pricing strategy in foreign markets reveals an adaptation approach. On a closely related consideration to the product lines, it is noted that L'Oreal first undertakes research on the target market including the specific section to target before developing the product. Hence, there is a presentation of a heterogeneous range of products from luxurious ones to what can be considered as addressing cosmetics needs with both categories following different pricing. The type of product sold in a particular region is based on the pricing strategy that is deemed most suitable. For instance, Garnier was introduced in India with the aim of attracting the customers based on the low price; $ 5.60, while the same brand goes for $ 6.47-$8.38 in the USA (Wall Street Journal 2007). ...Download file to see next pagesRead More
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gleichnerpeyton added comment 8 months ago
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The topic of "L'Orals Marketing Mix" is quite often seen among the tasks in high school. Still, this text opens a fresh perspective of seeing the problem. I’ll use the idea for my own document.
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