LAKME Marketing Strategy – Marketing Strategy of LAKME: Lakme is the Indian Cosmetic brand that is owned by Hindustan Unilever Ltd. established in 1952. The Manufacture brand markets and sells beauty and cosmetics products all over the world and is the most popular selling cosmetics brand in India dia.
The brand has gained fame from the Lakme Salon along with Lakme Fashion Week events in the country. This is helping the brand to increase its share of hearts and share of the mind on the market. Lakme is a beauty company that has succeeded in promoting awareness about color cosmetics, skincare products via Lakme beauty salons spread all over the nation.
LAKME At A Glance – Marketing Strategy of LAKME
Company : Hindustan Unilever inc.
CEO: Pushkaraj Shenai
Founder: Simone Tata | J. R. D. Tata
Year founded: 1952
Headquarters: Mumbai, India
Annual Revenue: 2.3 billion U.S. dollar
Products & Services: Lakmé is a beauty brand built around Indian women and its cosmetic products are at par with International standards.
Competitors: M.A.C | L’Oreal | Maybelline | Covergirl | Himalaya | Colorbar | Revlon | Avon | NYX | Bobbi Brown | Clinique | LA Girl
LAKME Fun Facts: Lakme started as a 100% subsidiary of Tata Oil Mills (Tomco). It was named after the French opera Lakmé, which itself is the French form of devi Lakshmi (the Hindu goddess of wealth) who is renowned for her beauty.
Marketing Strategy of LAKME
LAKME’s Marketing Strategy covers various aspects of the business right from segmentation and targeting to the overall mission and vision of the company and the various parameters which the company executes to become the top brand that it has in the market. So what is the Marketing Strategy of LAKME? Let us discuss.
Segmentation, Targeting, Positioning – LAKME Marketing Strategy
Lakme has worked with groups of customers, such as individual customers as well as professionals in its network salon, and the diverse needs of its customers in the fields of hair care, beauty Cosmetics, Make-up, and skincare form a basis for the segmentation.
It is targeted at younger and upper and middle-class consumers with good savings and is looking to display their attractiveness.
The brand is positioned as India’s biggest and most popular cosmetics and beauty brand reaching every nook and corner of the nation.
LAKME Mission Statement
” Not Found”
LAKME Vision Statement
Lakme ” Reinvent”
Competitive Advantage – LAKME Marketing Strategy
Collaboration with famous brands:
The brand began its journey as a 100%-owned affiliate of Tata Oils Mills (TOMCO) in 1952 (TOMCO owned several famous brands such as Hamam, Moti, and Joy soaps) that was later transferred by the company to Hindustan Unilever Ltd. in 1994.
Lakme Fashion Week:
It is easy to copy products but the key is creating experiences and continuous communication with consumers and, at the same time, making the product available at the appropriate time. Social media engagements on Lakme Fashion week pages have contributed to the brand’s growth by gaining the reach of the brand by 225% of the intended segment, resulting in an increase in sales by 20 percent.
BCG Matrix – LAKME Marketing Strategy
Lakme is a business segment that includes Skincare, Make-up, Lakme Salon, and Lakme’s online shop.
The three business segments collaborate to provide the customer with an entire view of beauty and wellness products. These segments aid the customer and the company in co-creating the products and services within the ecosystem where the brand and the users learn and benefit from each other. All the business segments that are strategic to the company are included within BCG’s matrix. BCG’s matrix.
Distribution Strategy – LAKME Marketing Strategy
The supply chain of the business is based on quality and the customer experience and delivering customer satisfaction and a focus on quality from end-to-end and cost-saving programs for customers and working with suppliers.
Information of Lakme Lever Private Limited (LLPL) The company has 360 salons, 60 of them are managed and owned by LLPL and 300 are franchised salons.
Furthermore, Lakme is a brand Lakme market and sells its products via the existing distribution network distribution Distribution of the main business Unilever and online shopping.
LLP owns manufacturing plants in the world where Lakme products are produced. other brands of Unilever such as Dove are also manufactured at these manufacturing facilities.
Brand equity – LAKME Marketing Strategy
Lakme emphasizes the sensuality of the clients and provides them with the chance to express themselves and help them realize who they are.
Lakme beauty salon as well as Lakme fashion week have assisted the brand to realize its full potential. According to the brand trust report the brand was placed 36 on India’s most trustworthy brands list. The brand is the main patron for LFW, the annual event known as LFW (Lakme Fashion Week) which is a bi-annual fashion show in Mumbai.
Competitive Analysis – LAKME Marketing Strategy
The rise of natural as well as Ayush Ayurvedic products is turning into a major rival to the beauty and Cosmetics company Lakme. Lakme competes based on its strong product line with a wide range of products within the product categories, which offer consumers a variety of options within the brand as well as the simple availability of the items via different retailers, online stores, and wholesalers.
In addition, through Lakme fashion week, the brand has created recognition and acceptance of the brand’s image in the marketplace.
Lakme competes with other companies within the same industry, such as L’Oreal, The Body shop, Himalaya Herbals, Revlon as well as Ponds.
Market Analysis – LAKME Marketing Strategy
The influx of inhabitants from villages is changing the habits of customers to more hygiene-conscious, increased use of physical and social media channels in remote areas The customers are increasingly worried about their appearance and their appearance.
It has also been conducting the market entry by educating customers on how to apply the right type of make-up through its websites and Salons.
Customer Analysis – LAKME Marketing Strategy
The Beauty brand that focuses on colors makeup and care for the skin is expanding its reach, reaching the professional and private salons or salon chains run by companies.
In the retail segment, the target audience is the 35 to 55 years who are in the midst of their careers and would like to look younger, whether by coloring their hair or using beauty and skincare products.
In the business segment, it is primarily serving Lakme Lever Private Limited, which is a wholly-owned part of the company. has franchised and owned outlets as well as company-owned.
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